WOA All Asset I Cl I (WOAIX)

Overview

The fund described operates under a "fund of funds" model, primarily focusing on investments in exchange-traded funds (ETFs), exchange-traded notes (ETNs), and other mutual funds, both open-end and closed-end. Its strategy emphasizes diversification across a broad array of assets including global equity securities, global fixed income securities, commodities, currencies, and cash. The fund is designed to give investors exposure to a wide range of markets, including international and emerging markets, through its investments in underlying funds that are either directly investing in these assets or are linked to indices that track these asset classes. Additionally, the fund may engage directly in purchasing individual securities and futures within these categories to achieve its investment objectives.

Products and Services

• Exchange-Traded Funds (ETFs)

  ETFs are investment funds traded on stock exchanges, much like stocks. They hold assets such as stocks, commodities, or bonds and generally operate with an arbitrage mechanism designed to keep it trading close to its net asset value, though deviations can occasionally occur. The fund invests in ETFs to gain exposure to a broad range of assets, markets, and sectors.

• Exchange-Traded Notes (ETNs)

  ETNs are unsecured debt securities issued by an underwriting bank. They have a maturity date and are backed only by the credit of the issuer, not by an asset. ETNs are designed to provide investors access to the returns of various market benchmarks. The fund's investment in ETNs allows it to engage in strategies targeting specific indices or sectors without directly purchasing the underlying assets.

• Open-End Mutual Funds and Closed-End Funds

  These funds are collective investment schemes that pool money from investors to purchase securities. While open-end funds can issue and redeem shares at any time, closed-end funds have a fixed number of shares outstanding, traded among investors on an exchange. Investing in these funds enables diversified access to different strategies, asset classes, and markets, including specialized areas not easily accessible to individual investors.

• Global Equity and Fixed Income Securities

  Equity securities represent ownership interest held by shareholders in entities (equities), while fixed income securities are debt instruments that entities issue to investors (bonds). By investing in global equities and bonds, the fund aims to leverage growth in international markets and diversify its interest rate and credit risk.

• Commodities and Currencies

  Investments in commodities and currencies aim to hedge against inflation and currency devaluation, respectively. Commodities include physical goods like gold, oil, and agricultural products, while currency investments may involve exchange rate movements among different currencies. These assets can provide non-correlated returns to traditional equity and fixed income investments.

• Futures

  Futures contracts are legal agreements to buy or sell a particular commodity asset, or security at a predetermined price at a specified time in the future. The fund's investment in futures is a way to gain exposure to various asset classes without the need to directly own the underlying assets. This can be used for hedging purposes or to speculate on future price movements of securities, indices, or commodities.