What is CSH?

CSH is actively managed to provide exposure to US-listed pre-combination special purpose acquisition companies (SPACs) through the use of common stock, warrants and rights. Positions will generally be in small- and mid-cap companies.

PERFORMANCE [as of 11/25/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
CSH 2.35% 0.89% -- -- -- -- --
CSH (NAV) 0.51% 0.91% -- -- -- -- --
No Underlying Index -- -- -- -- -- -- --
MSCI USA SMID Cap Index 6.25% -3.29% -14.05% -15.07% 9.02% 8.60% 11.92%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

CSH Factset Analytics Insight

CSH relies on the sub-advisor to target “pre-combination” SPAC opportunities, harvest the returns on deals once consummated, monetize resulting derivatives, and manage the resulting portfolio. Pre-combination SPACs are those that are either seeking a merger, acquisition, reorganization, or a similar business combination with one or more operating companies. These companies typically have two years to consummate a combination, or the SPAC will liquidate. The sub-advisor considers factors such as, the SPAC’s history and relationships, area of focus, and its management team’s ability to raise outside capital. SPACs typically pay the offering costs, underwriting fees, and provide working capital in exchange for common stock, warrants or rights of the post combination. The fund can use leverage, typically in the form of bank loans to purchase SPACs trading in the secondary market. The fund is non-diversified, which means the fund may be invested significantly in single issuers.

CSH Summary Data

02/01/22
1.25%
$8.19M
No Underlying Index
MSCI USA SMID Cap Index
Open-Ended Fund

Peers

MSCI USA SMID Cap Index

Fund Flows

-$0.00B 5 Days
-$0.00B 30 Days
-$0.00B 90 Days

CSH Portfolio Data

$474.19M
92.98
1.32
--
N/A
185

CSH Index Data

No Underlying Index
Proprietary
Proprietary
MSCI USA SMID Cap Index

CSH Portfolio Management

1.25%
--
--
--

CSH Tax Exposures

20.00% / 39.60%
--
Qualified dividends
No

CSH Fund Structure

Open-Ended Fund
No
No
-- / --
N/A
N/A
High
Daily

Factset Analytics Block Liquidity

As of 11/28/22

This measurement shows how easy it is to trade a $1 million USD block of CSH. CSH is rated a N/A out of 5.

CSH Tradability

2,503
$61.74K
266
$6.51K
1.28%
$0.32
-0.37%
1.61% / -3.87%
None
100.00%
--
--
--
--
0
$25.20
N/A

CSH Sector/Industry Breakdown

CSH Segment
Benchmark
91.03% --
8.51% --
0.40% --
0.04% --
0.02% --

CSH Top 10 Holdings

8.51%
5.84%
5.68%
2.38%
2.34%
2.26%
2.10%
1.99%
1.87%
1.77%
34.73%

CSH Performance Statistics

0.02
0.01
0.01
0.01
1.69%
MSCI USA SMID Cap Index

CSH Countries

CSH Segment
Benchmark
100.00% 100.00%

CSH Regions

CSH Segment
Benchmark
100.00% 100.00%

CSH Economic Development

CSH Segment
Benchmark
100.00% 100.00%
0.00% 0.00%

CSH Benchmark Comparison Holdings

185
2291
0
0.00%

CSH Benchmark Comparison Summary

CSH Segment
Benchmark
185 2291
$474.19M $11.57B
92.98 17.13
1.32 2.25
0.00% 1.58%
Medium Low

CSH Benchmark Comparison Market Cap Size

CSH Segment
Benchmark
0.00% 37.91%
0.00% 46.57%
25.94% 14.09%
64.40% 1.31%

Options Strategies for Outcome Investing

A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.