Trilogy Alternative Return Fund
The investment objective of the North Square Trilogy Alternative Return Fund is total return, with an emphasis on lower risk and volatility than the U.S. equity markets.
Multiple strategies are blended to reduce risk in changing market conditions.
Three Distinct and Complementary Non-leveraged Strategies
1. Acquire dividend payers and protect with collar
• Buy high quality, dividend paying securities.
• Utilize long dated S&P collar to reduce volatility and seek to protect against equity losses.
2. Acquire fixed income and seek premium income
• High quality, low duration fixed income used as collateral
• Sell options, seeking to capitalize on equity volatility
• Buy protection on the full notional amount of sold options to limit potential losses
3. Employ options to seek to benefit from market moves up or down
• Seek to profit from long term fundamental market moves
• May contribute in both up and down markets
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*North Square Investments, 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 1.38%, 1.38% and 1.38% of the average daily net assets of the Fund’s Class A, Class C and Class I shares, respectively (“Expense Limitation Agreement”). The Expense Limitation Agreement is in effect until September 30, 2024, and it may be terminated before that date only by the Board of Trustees.