CS Managed Futures Strategy Fund Share Class I
We stand at the forefront of hedge fund index and replication strategy development, with over a decade of in-depth experience in the field. The Credit Suisse Managed Futures Strategy Fund is the only 40 Act fund targeting the returns of the Credit Suisse Managed Futures Liquid Index, which seeks to track the asset-weighted Credit Suisse Managed Futures Hedge Fund Index. The Fund may invest in a range of instruments, including but not limited to futures. The Fund does not invest in hedge funds.
We stand at the forefront of hedge fund index and replication strategy development, with over a decade of in-depth experience in the field. The Credit Suisse Managed Futures Strategy Fund is the only 40 Act fund targeting the returns of the Credit Suisse Managed Futures Liquid Index, which seeks to track the asset-weighted Credit Suisse Managed Futures Hedge Fund Index. The Fund may invest in a range of instruments, including but not limited to futures. The Fund does not invest in hedge funds.
Legal Documents
Further Information
Fund Details
Credit Suisse Managed Futures Strategy Fund
| Advisor | UBS Asset Management (Americas) LLC |
| Custodian | State Street Bank & Trust Company |
| Inception Date | 09-28-2012 |
| Fund Domicile | United States |
| Fund Structure | Open Ended Investment Company |
| Fund Strategy | Managed Futures |
Share Class
Credit Suisse Managed Futures Strategy Fund Share Class I
| Ticker | CSAIX | |
| CUSIP | 22540S711 | |
| Currency | USD | |
| Gross Expense Ratio¹ | 1.34 % | |
| Net Expense Ratio¹ | 1.34 % | |
| Max initial sales charge² | 0.00 % | |
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¹) Credit Suisse Opportunity Funds (the “Trust”) and UBS Asset Management (Americas) LLC (“UBS”) have entered into a written contract
limiting operating expenses to 1.55% of the fund’s average daily net assets for Class A shares, 2.30% of the fund’s average daily net assets for
Class C shares and 1.30% of the fund’s average daily net assets for Class I shares at least through February 28, 2024. This limit excludes
certain expenses, including interest charges on fund borrowings, taxes, brokerage commissions, dealer spreads and other transaction charges,
expenditures that are capitalized in accordance with generally accepted accounting principles, acquired fund fees and expenses, short sale
dividends, and extraordinary expenses (e.g., litigation and indemnification and any other costs and expenses that may be approved by the Board
of Trustees). The Trust is authorized to reimburse UBS for management fees previously limited and/or for expenses previously paid by
UBS, provided, however, that any reimbursements must be paid at a date not more than thirty-six months following the applicable month
during which such fees were limited or expenses were reimbursed by UBS and the reimbursements do not cause the Fund to exceed the
applicable expense limitation in the contract at the time the fees are recouped. This contract may not be terminated before February 28, 2024.
²) The current maximum initial sales charge for Class A shares is 5.25%. The initial sales charge is reduced for larger purchases. Purchases over $1,000,000 or more are not subject to an initial sales charge but may be subject to a 1.00% CDSC on redemptions made within 12 months of purchase. The current maximum CDSC for Class C shares is 1.00% during the first year.
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Daily Prices
| NAV | 8.69 |
| Net Assets | $ 177,156,432 |
| Outstanding Shares | 20,381,321 |
| Previous NAV | 8.69 |
| NAV change | 0.00 |
| NAV change in % | 2.21% |
| Last Update: | 11-22-2024 |
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost; and that current performance may be lower or higher than the performance data quoted. 1 year, 3 years, 5 years, 10 years and since inception performance is annualized.
Monthly Performance Update as of 10-31-2024 No Load
| Period (show all share classes) |
CSAAX Class A |
CSACX Class C |
CSAIX Class I |
|---|---|---|---|
| YTD | (7.12)% | (7.75)% | (6.90)% |
| 1-Month | (5.04)% | (5.19)% | (5.05)% |
| 3-Months | (6.81)% | (7.09)% | (6.80)% |
| 6-Months | (9.01)% | (9.34)% | (8.96)% |
| 1-Year | (9.06)% | (9.76)% | (8.87)% |
| 3-Years | 0.31% | (0.46)% | 0.53% |
| 5-Years | 2.56% | 1.81% | 2.82% |
| 10-Years | 1.98% | 1.21% | 2.23% |
| Since-Inception 09-28-2012 | 2.52% | 1.75% | 2.77% |
| Last Update: 10-31-2024 | |||
Quarterly Performance Update as of 09-30-2024 No Load
| Period (show all share classes) |
CSAAX Class A |
CSACX Class C |
CSAIX Class I |
|---|---|---|---|
| 1-Year | (3.41)% | (4.05)% | (3.21)% |
| 3-Years | 2.49% | 1.72% | 2.72% |
| 5-Years | 3.03% | 2.27% | 3.28% |
| 10-Years | 2.59% | 1.83% | 2.84% |
| Since-Inception 09-28-2012 | 2.98% | 2.21% | 3.23% |
| Last Update: 09-30-2024 | |||
Risk Considerations
All investments involve some level of risk. Simply defined, risk is the possibility that you will lose money or not make money. Before you invest, please make sure you understand the risks that apply to the fund. As with any mutual fund, you could lose money over any period of time. Investments in the fund are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Principal risk factors for the fund include:
INTEREST RATE RISK:
Changes in interest rates may cause a decline in the market value of an investment. With bonds and other fixed income securities, a rise in interest rates typically causes a fall in values, while a fall in interest rates typically causes a rise in values.
LEVERAGING RISK:
The Fund may invest in certain derivatives that provide leveraged exposure. The Fund's investment in these instruments generally requires a small investment relative to the amount of investment exposure assumed. As a result, such investments may cause the Fund to lose more than the amount it invested in those instruments. The net asset value of the fund when employing leverage will be more volatile and sensitive to market movements. Leverage may involve the creation of a liability that requires the portfolio to pay interest.
MARKET RISK:
The market value of a security may fluctuate, sometimes rapidly and unpredictably. These fluctuations, which are often referred to as "volatility," may cause a security to be worth less than it was worth at an earlier time. Market risk may affect a single issuer, industry, commodity, sector of the economy, or the market as a whole. Market risk is common to most investments – including stocks, bonds and commodities, and the mutual funds that invest in them. Bonds and other fixed income securities generally involve less market risk than stocks and commodities. The risk of bonds can vary significantly depending upon factors such as issuer and maturity. The bonds of some companies may be riskier than the stocks of others.
MANAGER/MODEL RISK:
If the fund’s portfolio managers make poor investment decisions, it will negatively affect the fund’s performance.
MONEY MARKET FUNDS RISK:
Investing in money market funds subjects the fund to a pro rata portion of the money market fund’s fees and expenses.
NON-DIVERSIFIED STATUS:
The fund is considered a non-diversified investment company under the Investment Company Act of 1940, as amended (the "1940 Act"), and is permitted to invest a greater proportion of its assets in the securities of a smaller number of issuers. As a result, the fund may be subject to greater volatility with respect to its portfolio securities than a fund that is diversified.
PORTFOLIO TURNOVER RISK:
Active and frequent trading may lead to the realization and distribution to shareholders of higher short-term capital gains, which would increase their tax liability. Frequent trading also increases transaction costs, which could detract from the fund's performance.
REPURCHASE AGREEMENTS RISK:
Repurchase agreements could involve certain risks in the event of default or insolvency of the seller, including losses and possible delays or restrictions upon the fund’s ability to dispose of the underlying securities.
SHORT POSITION RISK:
The fund may enter into a short position through a futures contract or swap agreement.
SPECULATIVE EXPOSURE RISK:
Gains or losses from speculative positions in a derivative may be much greater than the derivative's original cost. For example, potential losses from commodity-linked swap agreements and from writing uncovered call options are unlimited.
STRUCTURED NOTE RISK:
The value of a structured note will be influenced by time to maturity, level of supply and demand for the type of note, interest rate and market volatility, changes in the issuer’s credit rating, and economic, legal, political, or geographic events that affect the reference asset.
SUBSIDIARY RISK:
By investing in the Subsidiary, the fund is exposed indirectly to the risks associated with the Subsidiary’s investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the fund and are subject to the same risks that apply to similar investments if held directly by the fund. There can be no assurance that the investment objective of the Subsidiary will be achieved. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the fund and/or the Subsidiary to continue to operate as it does currently and could adversely affect the fund.
SWAP AGREEMENTS RISK:
Swap agreements involve the risk that the party with whom the fund has entered into the swap will default on its obligation to pay the fund and the risk that the fund will not be able to meet its obligations to pay the other party to the agreement.
TAX RISK:
In order to qualify as a Regulated Investment Company (a “RIC”) under the Internal Revenue Code of 1986, as amended, the fund must meet certain requirements regarding the source of its income, the diversification of its assets and the distribution of its income. If the fund fails to qualify as a RIC, the fund will be subject to federal income tax on its net income at regular corporate rates (without reduction for distributions to shareholders). When distributed, that income also would be taxable to shareholders as an ordinary dividend to the extent attributable to the fund’s earnings and profits. If the fund were to fail to qualify as a RIC and became subject to federal income tax, shareholders of the fund would be subject to diminished returns.
U.S. GOVERNMENT SECURITIES RISK:
Obligations of U.S. government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. government.
VALUATION RISK:
The lack of an active trading market may make it difficult to obtain an accurate price for a portfolio security. Many derivative instruments are not actively traded.
The fund seeks to achieve investment results that correspond generally to the risk and return patterns of managed futures funds.
In seeking to achieve its investment objective, the fund generally seeks to obtain exposure to both up and down price trends in four broad asset classes – equities, fixed income, commodities and currencies. The fund may take long and/or short positions in these asset classes, and dynamically adjusts its exposure to individual asset classes based on a trend-following approach. The fund may also aim to obtain exposure to other strategies commonly used by managed futures funds.