Van Eck Global - Since 1955

Multi-Manager Alternatives FundVMAAX

  • Daily Price   as of 09/17/2014

    NAV DAILY CHANGE
    $9.27  $0.02 / +0.2%
  • Class A Details: VMAAX

    INCEPTION DATE GROSS/NET EXPENSES1
    06/05/09 3.51%/3.23%
  • Fund Allocations (%) as of 08/31/14

    STRATEGY % OF NET ASSETS
    Event Driven
    19.09
    Long/Short Fixed Income
    6.92
    Long/Short Equity
    29.22
    Multi-Strategy
    15.67
    Tactical Overlay
    23.24
    Cash/Equivalents
    5.86

    For definitions on these hedge-style strategies please visit the Commentary tab.

  • Fund Details 
    as of 08/31/14

    • Net Assets (All Classes)
      $28.5M
    • Number of Holdings
      382
    • Turnover Rate (2013)
      249%
    • Benchmark Indices2
      HFRX Global Hedge Fund Index

    *Price-to-Earnings (P/E) ratio is the price of a stock divided by its earnings per share. Price-to-Book (P/B) ratio is the ratio of a stock's price to its book value.

  • Fund Allocations (%)
    as of 08/31/14

    Event Driven --
    Sub-Adviser: Tiburon 19.09
    Sub-Total 19.09
    Global Macro --
    AQR Managed Futures Fund --
    Sub-Total --
    Long/Short Equity --
    Sub-Adviser: RiverPark 14.39
    Sub-Adviser: Coe 14.83
    Sub-Total 24.26
    Long/Short Fixed Income --
    Sub-Adviser: SW 6.92
    Sub-Total 6.92
    Multi-Strategy --
    Sub-Adviser: Horizon 15.67
    Sub-Total 15.67
    Tactical Overlay Internally Managed 23.24
    Cash/Equivalents -- 5.86
    Total -- 100.00
  • Market Exposures (%) as of 08/31/14

    Equity Fixed Income Futures/ Other
    Long Positions 70.73 10.02 20.48
    Short Positions 33.08 0.63 0.00
    Net Exposure 37.65 9.39 20.48
  • Three-Year Maximum Drawdown (%) 
    as of 08/31/14

    Van Eck Multi-Manager Alternatives A -3.22
    HFRX Global Hedge Fund Index -3.45
    S&P 500 TR USD -7.03
    Source: Van Eck Global, Morningstar.
    Maximum drawdown is the largest negative change in Fund value over a given period of time.
  • Manager Selection Process

    Manager Selection Process 
  • Industry Benchmarks: Know Your Indices

    • The HFRX Global Hedge Fund Index is designed to be representative of the overall composition of the hedge fund universe. It is comprised of eight strategies: convertible arbitrage, distressed securities, equity hedge, equity market neutral, event driven, macro, merger arbitrage, and relative value arbitrage. The strategies are asset weighted based on the distribution of assets in the hedge fund industry.

            

    • The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sectors.

      All indices listed are unmanaged and are not securities in which investments can be made.

    • Important Disclosure 

      Unless otherwise stated, portfolio facts and statistics are shown for Class A shares; other classes may have different characteristics. 

      NAV: Unless you are eligible for a waiver, the public offering price you pay when you buy Class A shares of the Fund is the Net Asset Value (NAV) of the shares plus an initial sales charge. The initial sales charge varies depending upon the size of your purchase.  No sales charge is imposed where Class A shares are issued to you pursuant to the automatic investment of income dividends or capital gains distributions. It is the responsibility of the financial intermediary to ensure that the investor obtains the proper “breakpoint” discount. Class C, Class I and Class Y do not have an initial sales charge; however, Class C does charge a contingent deferred redemption charge.   See the prospectus and summary prospectus for more information.

      1Van Eck Absolute Return Advisers Corporation (the “Adviser”) has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, trading expenses, dividends and interest payments on securities sold short, taxes and extraordinary expenses) from exceeding 2.40% for Class A, 3.15% for Class C, 1.95% for Class I, and 2.00% for Class Y of the Fund’s average daily net assets per year until May 1, 2015. During such time, the expense limitation is expected to continue until the Board of Trustees acts to discontinue all or a portion of such expense limitation.

      2The HFRX Global Hedge Fund Index is designed to be representative of the overall composition of the hedge fund universe, and includes convertible arbitrage, distressed securities, equity hedge, equity market neutral, event driven, macro, merger arbitrage, and relative value arbitrage strategies. The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sectors. All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

      The views and opinions expressed are those of Van Eck Global. Fund manager commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Any discussion of specific securities mentioned in the commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary.

      You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program rather than a complete program. Because the Fund implements a fund-of-funds strategy, an investor in the Fund will bear the operating expenses of the “Underlying Funds” in which the Fund invests. The total expenses borne by an investor in the Fund will be higher than if the investor invested directly in the Underlying Funds, and the returns may therefore be lower. The Fund, the Sub-Advisers and the Underlying Funds may use aggressive investment strategies, including absolute return strategies, which are riskier than those used by typical mutual funds. If the Fund and Sub-Advisers are unsuccessful in applying these investment strategies, the Fund and you may lose more money than if you had invested in another fund that did not invest aggressively. The Fund is subject to risks associated with the Sub-Advisers making trading decisions independently, investing in other investment companies, using a particular style or set of styles, basing investment decisions on historical relationships and correlations, trading frequently, using leverage, making short sales, being non-diversified and investing in securities with low correlation to the market. The use of leverage may magnify losses. The Fund is also subject to risks associated with investments in foreign markets, emerging market securities, small cap companies, debt securities, derivatives, commodity-linked instruments, illiquid securities, asset-backed securities and CMOs. Please see the prospectus and summary prospectus for information on these as well as other risk considerations.

      Investing involves risk, including possible loss of principal. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information.  Please read them carefully before investing. 

      Not FDIC Insured — No Bank Guarantee — May Lose Value 

      Van Eck Securities Corporation, Distributor
      335 Madison Avenue, 19th Floor
      New York, NY 10017
      800.826.2333