Changing Parameters Fund (CPMPX)

Overview

This fund is designed to fulfill its investment goals by taking an active approach, focusing on both long and short positions across a broad spectrum of financial instruments. It leverages a diversified portfolio strategy that spans across equity and fixed-income securities. The blend encompasses common stocks, corporate bonds, floating rate loans, and municipal securities, among others. Additionally, the fund employs investment techniques involving futures contracts, options on futures contracts, and exposure to U.S. Treasury instruments. A distinctive aspect of its investment strategy is the flexibility to invest in U.S. Treasuries across any duration, including futures on such U.S. Treasuries, allowing the fund to navigate different market conditions effectively.

Products and Services

• Equity Securities:

  Involves investments in common stocks, allowing investors to gain exposure to the performance of publicly traded companies.

• Fixed-Income Securities:

  Includes corporate bonds, floating rate loans, and municipal securities, aiming to provide investors with a steady income stream while mitigating risk.

• Preferred Stocks:

  Investment in preferred stocks offers potential dividends higher than common stocks and a higher claim on assets in the event of a liquidation.

• Investment Companies and ETFs:

  The fund invests in shares of open-end and closed-end investment companies and exchange-traded funds, diversifying exposure across various assets.

• Futures Contracts and Options:

  These financial derivatives are used strategically to hedge against market volatility or to speculate on future price movements of underlying assets.

• U.S. Treasury Instruments:

  Investments in U.S. Treasuries, including instruments of any duration or futures on such U.S. Treasuries, offer a secure, government-backed investment option.