CS Multialternative Strategy Fund Share Class I
The fund seeks positive absolute returns. It pursues its investment objective by utilizing a macro aware investment process to allocate capital across a range of investment strategies. The fund primarily, but not exclusively, allocates to directional and/or relative value strategies that take long and/or short positions in instruments across all major asset groups.
The fund seeks positive absolute returns. It pursues its investment objective by utilizing a macro aware investment process to allocate capital across a range of investment strategies. The fund primarily, but not exclusively, allocates to directional and/or relative value strategies that take long and/or short positions in instruments across all major asset groups.
Legal Documents
- Form N-CSR files - Annual *
- Form N-CSR files - Semi-Annual *
- Form N-PX
- SAI
- Statutory Prospectus
- Summary Prospectus
- Tailored Shareholder Reports - Annual
- Tailored Shareholder Reports - Semi-Annual
Further Information
- Item 7- Financial Statements and Financial Highlights for Open-End Management Investment Companies.
- Item 8- Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
- Item 9- Proxy Disclosures for Open-End Management Investment Companies
- Item 10- Remuneration Paid to Board members, officers and others.
- Item 11- Statement Regarding Basis for Approval of Investment Advisory Contract.
Fund Details
Credit Suisse Multialternative Strategy Fund
| Advisor | UBS Asset Management (Americas) LLC |
| Custodian | State Street Bank & Trust Company |
| Inception Date | 03-30-2012 |
| Fund Domicile | United States |
| Fund Structure | Open Ended Investment Company |
| Fund Strategy | Multialternative |
Share Class
Credit Suisse Multialternative Strategy Fund Share Class I
| Ticker | CSQIX | |
| CUSIP | 22540S778 | |
| Currency | USD | |
| Gross Expense Ratio¹ | 1.49 % | |
| Net Expense Ratio¹ | 0.91 % | |
| Max initial sales charge² | 0.00 % | |
|
¹) Credit Suisse Opportunity Funds (the “Trust”) and UBS Asset Management (Americas) LLC (“UBS”) have entered into a written contract limiting operating expenses to 1.10% of the fund’s average daily net assets for Class A shares and 0.85% 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.
|
||
Daily Prices
| NAV | 9.21 |
| Net Assets | $ 223,720,052 |
| Outstanding Shares | 24,288,704 |
| Previous NAV | 9.21 |
| NAV change | 0.00 |
| NAV change in % | 4.09% |
| 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 No Load
| Period |
|---|
| YTD |
| 1-Month |
| 3-Months |
| 6-Months |
| 1-Year |
| 3-Years |
| 5-Years |
| 10-Years |
| Since-Inception |
| Last Update: |
Quarterly Performance Update as of 09-30-2024 No Load
| Period (show all share classes) |
CSQAX Class A |
CSQIX Class I |
|---|---|---|
| 1-Year | 3.44% | 3.76% |
| 3-Years | 2.89% | 3.18% |
| 5-Years | 4.65% | 4.93% |
| 10-Years | 2.86% | 3.13% |
| Since-Inception 03-30-2012 | 2.84% | 3.11% |
| 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:
CFTC REGULATION: Due to recent Commodity Futures Trading Commission ("CFTC") rule amendments, the disclosures and operations of the fund will need to comply with applicable regulations governing commodity pools, which will increase the fund's regulatory compliance costs. Other potentially adverse regulatory initiatives could develop.
COMMODITY EXPOSURE RISKS: Exposure to the commodities markets may subject the fund to greater volatility than investments in traditional securities.
CREDIT RISK: The issuer of a security or the counterparty to a contract, including derivatives contracts, may default or otherwise become unable to honor a financial obligation.
DERIVATIVES RISK: The fund's use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Derivatives are subject to a number of risks such as commodity exposure risks, interest rate risk, market risk and credit risk.
EXCHANGE-TRADED FUNDS RISK: An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange-traded) that has the same investment objectives, strategies and policies. In addition, an ETF may fail to accurately track the market segment or index that underlies its investment objective. The price of an
ETF can fluctuate, and the fund could lose money investing in an ETF.
EXCHANGE-TRADED NOTES RISK: ETNs do not make periodic coupon payments and provide no principal protection. The value of an ETN may be influenced by time to maturity, level of supply and demand for the ETN, volatility and lack of liquidity in underlying commodities markets, changes in the applicable interest rates, changes in the issuer's credit rating and economic, legal, political or geographic events that affect the referenced commodity. The value of the ETN may drop due to a downgrade in the issuer's credit rating, despite the underlying index remaining unchanged. The timing and character of income and gains derived from ETNs is under consideration by the U.S. Treasury and Internal Revenue Service and also may be affected by future legislation.
FOREIGN SECURITIES RISK: A fund that invests outside the U.S. carries additional risks that include:
Currency Risk Fluctuations in exchange rates between the U.S. dollar and foreign currencies may negatively affect an investment. Adverse changes in exchange rates may erode or reverse any
gains produced by foreign-currency-denominated investments and may widen any losses.
Information Risk Key information about an issuer, security or market may be inaccurate or unavailable.
Political Risk Foreign governments may expropriate assets, impose capital or currency controls, impose punitive taxes, or nationalize a company or industry. Any of these actions could have a
severe effect on security prices and impair the fund's ability to bring its capital or income back to the U.S. Other political risks include economic policy changes, social and political instability,
military action and war.
FORWARDS RISK: Forwards are not exchange-traded and therefore no clearinghouse or exchange stands ready to meet the obligations of the contracts. Thus, the fund faces the risk that its counterparties may not perform their obligations. Forward contracts also are not regulated by the CFTC and therefore the fund will not receive any benefit of CFTC regulation when trading forwards.
FUTURES CONTRACTS RISK: The risks associated with the fund's use of futures contracts include the risk that: (i) changes in the price of a futures contract may not always track the changes in market value of the underlying reference asset; (ii) trading restrictions or limitations may be imposed by an exchange, and government regulations may restrict trading in futures contracts; and (iii) if the fund has insufficient cash to meet margin requirements, the fund may need to sell other investments, including at disadvantageous times.
INDEX/TRACKING ERROR RISK: The fund's portfolio composition and performance may not match, and may vary substantially from, that of the Index for any period of time. Unlike the fund, the returns of the Index are not reduced by investment and other operating expenses. In addition, there can be no assurance that the fund will be able to duplicate the exact composition of the Index, or that the Index will track the performance of the DJCS Hedge Fund Index.
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.
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.
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.
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 "Code"), 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.
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. For a detailed discussion of these and other risks, please refer to the fund’s Prospectus, which should be read carefully before you invest.
The fund seeks to achieve total return consistent with the return and risk patterns of a diversified universe of hedge funds.
For investors seeking to enhance the efficiency of their portfolios, the Credit Suisse Multialternative Strategy Fund may potentially provide a liquid, transparent and broadly diversified alternative for accessing the risk and return characteristics of hedge funds.
Academic research has demonstrated that common market components are by far the largest driver of aggregate hedge fund returns, and that it is possible to gain exposure to these components through liquid securities. The Fund’s managers believe that exposure to these liquid components may allow investors to create a portfolio with risk/return characteristics comparable to an index of hedge funds.