Tactical Defensive Fund
The investment objective of the North Square Tactical Defensive Fund is to seek capital appreciation.
The Tactical Defensive Fund is a trend based strategy seeking capital appreciation while reducing the probability of meaningful loss.
Being Tactically Defensive Can Help
North Square Tactical Defensive Fund can become 100% defensive.
The Tactical Defensive Fund brings together two complementary components to diversify equity allocations and attempt to reduce volatility over changing market cycles. The Fund is designed to react to changing market conditions, not predict them.
Component 1: Cyclical Trends
Objective: Designed to be fully invested during longer term growth cycles while becoming defensive during periods of decline
• Technical analysis focused on intermediate and long-term measures
• Construct portfolio of 3 – 6 holdings
• Adjust allocation consistent with market cycle. Can hold defensive ETFs when market conditions change
Component 2: Shorter-Term Trends
Objective: Seeks short-term equity appreciation with a secondary emphasis on capital preservation during shorter term pullbacks
• Daily, technical measures determine equity risk levels
• Construct portfolio of 4 – 7 ETFs
• Portfolio level dynamic sell criteria
• Unconstrained, can hold all cash
Availability
| Class | Ticker | Net Expense* | Gross Expense |
|---|---|---|---|
| A | ETFRX | 2.05% | 2.07% |
| C | ETFZX | 2.80% | 2.85% |
| I | ETFWX | 1.80% | 1.87% |
*North Square Investments, LLC, the Fund’s investment adviser, has contractually agreed to waive its fees and/or pay for or reimburse operating expenses of the Fund to ensure that total annual fund operating expenses (excluding any taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, any acquired fund fees and expenses, expenses incurred in connection with any merger or reorganization, extraordinary expenses such as litigation expenses, and payments, if any, under a Rule 12b-1 Distribution Plan) do not exceed 1.70%, 1.70% and 1.70% of the average daily net assets of the Fund’s Class A, Class C and Class I shares, respectively. This agreement is in effect until September 30, 2026, and it may be terminated before that date only by the Board of Trustees.
