Orinda Alternative Mutual Fund Platform

Vivaldi Multi-Strategy Fund

Fund Facts

A Share
Ticker:   OMOAX
Cusip:    46141T 687
I Share
Ticker:   OMOIX
Cusip:    46141T 679

Reasons to Invest

  • Low correlation to traditional equity and fixed income benchmarks
  • Highly diversified across strategies, sectors, capitalization and style
  • Potential for lower volatility through multi-strategy approach

Portfolio Managers

Investment Advisor – Vivaldi Asset Management

Michael Peck – President, Co-CIO, Portfolio Manager
Scott Hergott – Director of Research, Co-CIO, Portfolio Manager
Jeff O’Brien – Portfolio Manager
Kyle Mowery – Portfolio Manager
Brian Murphy – Portfolio Manager

RiverNorth Capital Management

Patrick Galley – Portfolio Manager
Stephen O’Neill – Portfolio Manager

Angel Oak Capital Advisors

Brad Friedlander – Portfolio Manager
Sam Dunlap – Portfolio Manager
Berkin Kologlu – Portfolio Manager
Sreeniwas Prabhu – Portfolio Manager
Kin Lee – Portfolio Manager
Colin McBurnette – Portfolio Manager

Fund Objective

The Fund seeks to achieve long-term capital appreciation by pursuing positive absolute returns across market cycles. In pursuing its objective, the Fund seeks to generate attractive long-term returns with low sensitivity to traditional equity and fixed-income indices.

Investment Strategy

The Fund allocates its assets among a carefully chosen group of alternative investment strategies operated by portfolio managers with deep backgrounds in their respective disciplines. This mix of strategies seeks to generate an uncorrelated return stream, derived from fundamentally-driven approaches.

Performance – Average Annualized Returns*

As of 6/30/2020QTDYTD1-YR3-YR5-YRSince
Performance at NAV Net Asset Value does not include sales charges
A share (OMOAX)9.15%-6.81%-2.58%1.15%2.35%2.03%
I share (OMOIX)9.23%-6.64%-2.29%1.46%2.66%2.34%
BoA Merrill Lynch
3-month Treasury Bill Index
Performance at MOP Maximum Offering price includes maximum sales charge of
5% for Class A Shares
A share (OMOAX)-3.68%-11.46%-7.47%-0.56%1.31%1.39%
Expense Ratio in annual report dated 2/1/19: I share 1.68%; A share 1.98%. Expense Ratio in prospectus dated 2/1/19: I share 3.01%; A share 3.31%.
*QTD, YTD, 1-YR are not annualized.

The expense ratio as disclosed in the Fund’s annual report dated 2/1/2019 is 1.68% (OMOIX) and 1.98% (OMOAX), which only includes the direct expenses paid by shareholders from their investment. The expense ratio as disclosed in the Fund’s prospectus dated 2/1/2019 is 3.01% (OMOIX) and 3.31% (OMOAX), which is required to include the indirect expenses of investing in underlying funds and dividend and interest expenses on short sales.

Vivaldi Asset Management, LLC has contractually agreed to waive its fees and/or pay for 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, acquired fund fees and expenses) do not exceed 1.85% and 1.55% of the average daily net assets of Class A and Class I shares of the Fund, respectively, until January 31, 2021.

Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here.

The performance history is net of all current fund fees and reflects the impact of the Contractual Waiver Agreement. If the Contractual Waiver Agreement were not in place, the Fund’s performance would be reduced. Performance data current to the most recent month-end is available at (877) 779-1999.

Click for the Statutory or Summary prospectus of the Vivaldi Multi-Strategy Fund. Please read and consider the prospectus carefully before investing.

Mutual fund investing involves risk. Principal loss is possible. The fund can make short sales of securities, which involves the risk that losses in securities may exceed the original amount invested. The fund may use leverage which may exaggerate the effect of any increase or decrease in the value of portfolio securities or the net asset value of the fund, and money borrowed will be subject to interest costs. Investments in smaller and medium companies involve greater risks such as limited liquidity and greater volatility. Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for emerging markets. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher rated securities. The fund may use certain types of investment derivatives such as futures, forwards, and swaps. Derivatives involve risks different from, and in certain cases, greater than the risks presented by more traditional investments. Diversification does not assure a profit or protect against a loss in a declining market. Investments in absolute return strategies are not intended to outperform stocks and bonds during strong market rallies. Investments in mortgage backed securities include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Multi-investment management styles may lead to higher transaction expenses compared to single investment management styles. Outcomes depend on the skill of the sub-advisers and adviser and the allocation of assets amongst them. The fund may invest in exchange traded funds (ETFs), which may trade at a discount to the aggregate value of the underlying securities and although expense ratios for ETFss are generally low, frequent trading of ETFs by the fund can generate brokerage expense. For a complete description of risks please read the prospectus.

On December 16th, 2016 the Vivaldi Orinda Macro Opportunities Fund (the “fund”) reorganized into the Vivaldi Multi-Strategy Fund, a series of Investment Managers Series Trust II (the “acquiring fund”), which is designed to be substantially similar from an investment perspective to the current fund. Effective December 19th, 2016 Vivaldi Asset Management, LLC (“Vivaldi”) was appointed as the investment adviser and approved the appointment of RiverNorth Capital Management, LLC (“RiverNorth”) as a sub-adviser to the acquiring fund. In addition, shareholders approved the acquiring fund’s use of “manager of managers” exemptive relief, which has subsequently been granted by the U.S. Securities and Exchange Commission (the “SEC”) and allows Vivaldi and the board of trustees to replace sub-advisers to the acquiring fund in the future without the cost and time associated with a shareholder meeting. In reliance upon the exemptive order, the board of trustees of Investment Managers Series Trust II approved the appointment of Angel Oak Capital Advisors, LLC as a sub-adviser to the fund on October 17, 2017.

One cannot invest directly in an index. S&P 500 Index – the S&P 500 Index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. The BoA Merrill Lynch 3-month U.S. Treasury Bill Index is an unmanaged index that is comprised of a single U.S. Treasury issue with approximately three months to final maturity, purchased at the beginning of each month and held for one full month.

Vivaldi Asset Management, LLC is the advisor to the Vivaldi Multi-Strategy Fund which is distributed by IMST Distributors, LLC.
Quasar and IMST are not affiliated.