Wavefront global Diversified investment fund
English
Fund Strategy
The Fund seeks long-term absolute, risk-adjusted returns with low correlation to global equity and fixed-income market returns.
Investment Process
In partnership with the University of Waterloo, the Fund’s manager has developed a systematic investment process to identify opportunities across all markets and manage risk. Using computer-driven systems to analyze market behaviour, they identify trends and position the portfolio to profit for as long as the trend persists, whether down market or up market trends. The Fund invests in a broad range of sectors including commodities, equity indices, currencies and fixed income instruments using futures contracts and determining positions based on expected profit potential. The Fund’s fixed downside risk budget is equally allocated across all markets on a risk-adjusted basis.
Investor Profile
- Investors seeking to stabilize overall portfolio capital
- Investors looking to own an investment uncorrelated to traditional asset classes
- Investors who wish to access returns from wide markets outside of traditional stocks and bonds alone
Fund Overview
Fund Performance
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 1.67 | 5.69 | 3.56 | 1.33 | -2.77 | -0.97 | -1.15 | -3.92 | 3.12 | ||||
| 2023 | -1.92 | 0.62 | -5.14 | 5.51 | 0.91 | 1.10 | -0.49 | -3.36 | 1.79 | -1.09 | -2.50 | 1.23 | -3.73 |
| 2022 | 2.24 | 5.53 | 9.29 | 8.57 | -2.14 | 0.59 | -3.52 | 0.06 | 7.79 | -1.96 | -3.73 | -2.45 | 20.75 |
| 2021 | 1.57 | 8.65 | -1.36 | 4.31 | 2.28 | -1.55 | -0.29 | -0.37 | 2.34 | 3.71 | -5.04 | -0.48 | 13.93 |
| 2020 | 2.31 | 1.89 | 21.38 | -0.17 | -3.89 | -2.53 | 2.18 | 2.43 | -6.03 | 0.00 | 5.04 | 12.02 | 36.94 |
| 2019 | -5.31 | 3.89 | 0.46 | 1.96 | -0.56 | -1.59 | -1.94 | 4.68 | -6.92 | -3.27 | 0.12 | 1.12 | -7.75 |
| 2018 | 6.71 | -10.81 | -2.34 | 0.03 | -2.98 | -0.86 | 0.31 | -0.19 | 1.79 | -6.99 | 0.08 | 3.64 | -12.06 |
| 2017 | -1.69 | -1.99 | -3.33 | -0.90 | -3.14 | -1.66 | 1.80 | 1.40 | -3.45 | -0.45 | -0.51 | 1.02 | -12.33 |
| 2016 | 3.24 | 1.46 | -3.33 | -3.32 | -4.84 | 5.08 | -0.39 | -6.01 | -3.25 | -5.02 | -5.78 | -0.28 | -20.87 |
| 2015 | 11.57 | -1.17 | 0.58 | -4.16 | 0.58 | -2.12 | 4.62 | 0.88 | 0.26 | -3.61 | 2.70 | -1.31 | 8.19 |
| 2014 | -2.95 | 1.16 | -3.75 | 0.06 | 0.09 | 0.15 | 5.19 | 3.36 | 2.76 | -0.42 | 7.55 | 3.26 | 17.11 |
| 2013 | 3.13 | -0.56 | 0.65 | 4.00 | -0.12 | 0.32 | -2.92 | -3.80 | 1.02 | 2.12 | 3.34 | 2.20 | 9.46 |
| 2012 | -2.78 | -2.80 | -1.53 | 3.15 | 6.95 | -5.98 | 1.18 | -1.47 | -4.54 | -4.80 | -1.53 | 0.61 | -13.37 |
| 2011 | -0.22 | 3.83 | -1.53 | 3.67 | -2.98 | -2.21 | 2.77 | 1.01 | -3.93 | -4.21 | 0.70 | 1.36 | -2.17 |
| 2010 | -3.27 | 2.32 | 3.34 | 0.25 | -3.26 | -0.14 | -3.76 | 9.20 | 1.77 | 5.48 | -1.88 | 2.98 | 12.90 |
| 2009 | 0.72 | 0.63 | 4.36 | 2.83 | -3.64 | 8.08 | -3.50 | 9.32 |
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 1.58 | 6.20 | 3.53 | 1.27 | -2.88 | -0.69 | -2.01 | -4.49 | 2.10 | ||||
| 2023 | -2.01 | 0.59 | -5.27 | 5.48 | 0.85 | 1.19 | -0.77 | -3.52 | 1.73 | -1.21 | -2.59 | 1.15 | -4.71 |
| 2022 | 2.70 | 7.00 | 9.91 | 8.54 | -2.22 | 0.53 | -3.66 | -0.02 | 7.82 | -2.03 | -3.81 | -2.63 | 22.80 |
| 2021 | 1.49 | 8.52 | -1.48 | 4.83 | 2.79 | -2.83 | -0.40 | -0.47 | 2.84 | 5.30 | -7.20 | -0.55 | 12.56 |
| 2020 | 2.21 | 1.80 | 21.26 | -0.33 | -3.95 | -2.61 | 2.08 | 2.33 | -6.08 | -0.08 | 4.93 | 11.76 | 35.22 |
| 2019 | -5.40 | 3.80 | 0.38 | 1.89 | -0.66 | -1.69 | -2.03 | 4.60 | -7.02 | -3.36 | 0.03 | 1.02 | -8.75 |
| 2018 | 6.60 | -10.88 | -2.42 | -0.06 | -3.06 | -0.94 | 0.22 | -0.28 | 1.74 | -7.11 | -0.01 | 3.55 | -13.01 |
| 2017 | -1.79 | -2.07 | -3.41 | -0.97 | -3.23 | -1.74 | 1.71 | 1.32 | -3.53 | -0.54 | -0.60 | 0.94 | -13.23 |
| 2016 | 3.12 | 1.39 | -3.32 | -3.40 | -4.92 | 5.02 | -0.45 | -6.13 | -3.32 | -5.10 | -5.86 | -0.36 | -21.59 |
| 2015 | 11.52 | -1.33 | 0.53 | -4.12 | 0.55 | -2.17 | 4.56 | 0.80 | 0.19 | -3.74 | 2.68 | -1.45 | 7.33 |
| 2014 | -3.04 | 1.08 | -3.84 | -0.02 | 0.01 | 0.05 | 5.10 | 3.28 | 2.67 | -0.51 | 8.50 | 3.19 | 17.02 |
| 2013 | 3.03 | -0.64 | 0.56 | 3.90 | -0.21 | 0.24 | -3.01 | -3.89 | 0.93 | 2.02 | 3.25 | 2.11 | 8.26 |
| 2012 | -2.86 | -2.88 | -1.61 | 3.06 | 6.99 | -6.18 | 1.09 | -1.56 | -4.62 | -4.89 | -1.61 | 0.52 | -14.28 |
| 2011 | -0.31 | 3.79 | -1.63 | 3.61 | -3.06 | -2.40 | 2.76 | 0.93 | -4.14 | -4.31 | 0.61 | 1.27 | -3.29 |
| 2010 | -3.37 | 2.24 | 3.29 | 0.18 | -3.46 | -0.23 | -3.85 | 9.27 | 1.70 | 5.42 | -1.97 | 2.92 | 11.91 |
| 2009 | 0.63 | 0.52 | 4.27 | 2.88 | -4.00 | 8.07 | -3.58 | 8.55 |
growth of $1,000
Risk Rating
Low
Medium
High
Portfolio Details
Fund Codes
Series A: AHP 4100
Series F: AHP 4110
Minimum Investment
$1,000
Management Fee
Series A: 2.00%
Series F: 1.00%
Portfolio Advisor
Arrow Capital Management Inc.
Performance Fee
20%
Hurdle Rate
6%
High Water Mark
Perpetual, based on the highest calendar year-end adjusted NAV
Liquidity
Daily
Short term redemption charge
2% of NAV within the first 90 days
Investment Sub-Advisor
WaveFront Global Asset Management Corp
Registered Plan Eligibility
Eligible
Administrator
RBC Investor Services Trust
Auditor
PricewaterhouseCoopers
Custodian
CIBC World Markets
Valuation Agent
CIBC Mellon Trust Company
Manager & Promoter
Arrow Capital Management Inc.
Fund Documents
Sub-advisor
Roland Austrup
Chairman & Managing Principal, WaveFront Global Asset Management
Roland Austrup
Chairman & Managing Principal, WaveFront Global Asset Management
Mr. Austrup brings over 25 years of experience in the investment industry to his roles as Chairman & Managing Principal of WaveFront Global Asset Management. Responsible for strategic planning, development and enhancement of the trading programs, Mr. Austrup is registered with the Commodity Futures Trading Commission in the United States and with the OSC. Mr. Austrup is an Associate Member of the National Futures Association and a member of the Managed Funds Association. He is Director of the Master of Quantitative Finance program at the University of Waterloo. Mr. Austrup graduated with honours with a BA from the University of Western Ontario.
Robert Koloshuk, CIM
Chief Investment Officer & Managing Principal, WaveFront Global Asset Management
Robert Koloshuk, CIM
Chief Investment Officer & Managing Principal, WaveFront Global Asset Management
Mr. Koloshuk is the Chief Investment Officer & Managing Principal at WaveFront, responsible for oversight of the firm’s research and trading. Mr. Koloshuk joined WaveFront in 2003 and was Senior Strategist and Director of Trading before becoming a Managing Principal in 2019. Mr. Koloshuk is registered with the Commodity Futures Trading Commission in the United States, and with the OSC. Prior to joining WaveFront, Mr. Koloshuk was assistant to the head of the Social Sciences department at Appleby College in Oakville, Ontario, where he taught classes in philosophy and history. Mr. Koloshuk received a B.A. (Honours in Philosophy) from the University of Guelph, with a focus on epistemology and logic.
How to Invest
Effective June 25, 2024, WaveFront Global Diversified Investment Class was merged into WaveFront Global Diversified Fund as part of the corporate class fund merger. Effective June 18, 2019, the fund was renamed WaveFront Global Diversified Investment Class (formerly Exemplar Diversified Portfolio).
Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns net of fees and expenses payable by the fund (except for figures of one year or less, which are simple total returns) including changes in security value and reinvestment of all dividends/distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.
The rates of return are used only to illustrate the effects of the compound growth rate and are not intended to reflect future values or returns on investment in an investment fund.
The “Growth of $1,000” chart shows the final value of a hypothetical $1,000 investment in securities in this class/series of the fund as at the end of the investment period indicated and is not intended to reflect future values or returns on investment in such securities.
The risk level of a fund has been determined in accordance with a standardized risk classification methodology in National Instrument 81-102, that is based on the fund’s historical volatility as measured by the 10-year standard deviation of the fund’s returns. Where a fund has offered securities to the public for less than 10 years, the standardized methodology requires that the standard deviation of a reference mutual fund or index that reasonably approximates the fund’s standard deviation be used to determine the fund’s risk rating. Please note that historical performance may not be indicative of future returns and a fund’s historical volatility may not be indicative of future volatility.
This information on this document is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or an offer or a solicitation to buy or sell securities. Every effort has been made to ensure that the material contained herein is accurate at the time of publication. Market conditions may change which may impact the information contained in this document.
For major events that may affect the performance of a fund in the last 10 years, including its participation in an amalgamation or merger with another fund or a change in its investment objectives or portfolio advisor, please refer to the “History of the Fund” section in the fund’s most recently-filed Annual Information Form.