Dec 31, 2022
Primary Benchmark Index
ICE BofA Merrill Lynch 3-mo T-bill Index
Open to New Investors
Crabel Capital Management was founded in 1987 by Toby Crabel. Using decades of experience in research, technology, and quantitative trading, Crabel has developed several unique absolute return programs that serve as liquid, transparent, and diversified investment options for institutional clients.
With a vision to define quantitative finance, Crabel combines award-winning experience with data science and leading-edge technology to provide systematic trading programs in line with four core philosophies.
Research and Alpha Discovery
Crabel seeks to identify persistent, explainable market anomalies across a wide range of instruments and employs a testing methodology for each trading idea. Their short-term trading concepts are designed to exploit behavioral inefficiencies across a variety of different market environments.
Trading and Execution
Crabel makes significant investments in low latency execution infrastructure, measures trade execution speed in microseconds, and minimizes costs to reduce alpha erosion as trade implementation is of equal important to the trade concept itself.
Crabel focuses on capital preservation through automated comprehensive risk limitations in every portfolio, as each has an annual volatility target and multiple layers of risk controls at the position and position levels
Crabel seeks constant innovation and continuous improvement to avoid alpha decay, collaborating across teams to elevate strategy research, algorithm execution development, and technological integration.
As of most recent prospectus
Historically uncorrelated component strategies combine to target all-weather participation.
No level of diversification or non-correlation can ensure profits or guarantee against losses.
Statement of Additional Information (SAI)
Application: Simple IRA
IRA Transfer of Assets
IRA Custodial Agreement/Disclosure Statement
Roth IRA Custodial Agreement/Disclosure Statement
CAREFULLY CONSIDER THE FUND'S INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES AS DETAILED IN ITS PROSPECTUS AND SUMMARY PROSPECTUS, WHICH CAN BE OBTAINED BY CALLING (888) 524-9441. READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.
Funds are distributed by Northern Lights Distributors, LLC Member FINRA/SIPC. Altegris Advisors and Northern Lights Distributors, LLC are not affiliated.
THE FUND MAY NOT BE SUITABLE FOR ALL INVESTORS
Investing involves risk, including possible loss of principal. You may have a gain or loss when you sell shares. There can be no assurance that the Fund will achieve its investment objectives. The Fund’s investments in commodity futures markets are volatile, as commodity futures prices are influenced by unfavorable weather, geologic and environmental factors, regulatory changes and restrictions. Trading and investing on non-US exchanges and in non-US markets poses additional risks as compared to trading and investing in the U.S., due to currency fluctuation, adverse political or economic conditions, and differing audit and legal standards (risks that are magnified for investments in emerging markets). The Fund will invest in futures, swaps, structured notes, options and other derivative instruments, which are leveraged and can be more volatile. less liquid, and subject to the Fund to increased costs, as compared to traditional investments. Derivatives may also be subject to increased tracking risk, risk of counterparty default, adverse tax treatment. The Fund will leverage investments to the extent permitted by its investment policies and applicable law, and the managed futures programs it accesses will be traded with additional notional funding – all of which will magnify the impact of increases or decreases in the value of Fund investments and cause the Fund to incur additional expenses. Futures contracts are generally liquid, but under certain market conditions there may not always be a liquid secondary market. The Fund’s use of short selling and taking short positions in derivatives involves increased risks and costs, as the Fund may pay more for an investment than it receives in a short sale, with potentially significant and possibly unlimited losses. The Fund’s investment in ETFs or other investment funds will subject it to the risks and expenses affecting those funds. The Fund invests in fixed income securities, including preferred stock, and their values typically fall when interest rates rise. Fixed income securities are subject to the issuer’s credit risk, risk of default and prepayment risk in the case of mortgage-backed and similar securities. Below investment grade and lower quality high yield or junk bonds present heightened credit risk, liquidity risk, and potential for default. Investing in defaulted or distressed securities is considered speculative. REITs are subject to market, sector and interest rate risk. The Fund is non-diversified and can invest a greater portion of its assets in securities of the same issuers than a diversified fund, and therefore a change in the value of a single security could cause greater fluctuation in the Fund’s share price than would occur if it were diversified. The Fund trades actively, which can increase volatility and costs due to high turnover.
The Fund is a new mutual fund (Dec 31, 2022) and has a limited history of operations for investors to evaluate. Investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategies, may be unable to implement certain of its investment strategies or may fail to attract sufficient assets, any of which could result in the Fund being liquidated and terminated at any time without shareholder approval and at a time that may not be favorable for all shareholders. Such a liquidation could have negative tax consequences for shareholders and will cause shareholders to incur expenses of liquidation. Mutual funds and their advisers are subject to restrictions and limitations imposed by the Investment Company Act of 1940, an amended and the Internal Revenue Code that do not apply to the Adviser’s management of individual and institutional accounts. As a result, the Adviser may not achieve its intended result in managing the Fund.
Altegris Advisors LLC is a CFTC-registered commodity pool operator, NFA member, and SEC-registered investment adviser that sponsors and/or manages a platform of alternative investment products.
The referenced indices are shown for general market comparisons and are not meant to represent any particular Fund. An index is unmanaged and not available for direct investment.
ICE BofA Merrill Lynch 3-month T-Bill Index. An unmanaged index that measures returns of three-month Treasury Bills.
Alpha. A measure of performance, indicating when a strategy’s performance exceeds a market index or benchmark that is considered to represent the market’s movement as a whole.
S&P 500 Futures. A type of futures contract that provides buyers with an investment price based on the expectation of the S&P 500 Index's future value. A futures contract is a legal agreement to buy or sell a particular asset or security at a predetermined price at a specified time in the future.
Investment grade. A credit rating that is in one of the top categories by Standard & Poor’s (BBB- or higher) or Moody’s (Baa3 or higher). Typically believed to have adequate to exceptional ability to pay interest and repay principal.
Long. Buying an asset/security that gives partial ownership to the buyer of the position. Long positions profit from an increase in price.
Short. Selling an asset/security that may have been borrowed from a third party with the intention of buying back at a later date. Short positions profit from a decline in price. If a short position increases in price, the potential loss of an uncovered short is unlimited.