Eventide Healthcare & Life Sciences Fund named Wall Street Journal Category King
BOSTON, MA (Marketwire November 3, 2015) – The Eventide Healthcare & Life Sciences Fund (NASDAQ: ETNHX, ETAHX, ETCHX, and ETIHX) was named “Category King” by the Wall Street Journal for the Health & Biotech Category for the one-year period ending September 30, 2015. The award recognizes the top 10 mutual funds in each investment category, ranked by total return. With a one-year total return of 20.62%, the Eventide Healthcare & Life Sciences Fund Class A shares ranked #2 out of 87 Health & Biotech funds, as tracked by the Wall Street Journal.
The following table shows the performance of the Fund since inception:
|As of 9/30/2015||YTD return||1 year return||Since inception (12/27/2012)
|Eventide Healthcare & Life Sciences Fund*||-2.19%||20.71%||29.76%|
|Healthcare Blended Index||6.61%||19.11%||26.25%|
|S&P 500 Total Return Index||-5.29%||-0.61%||13.95%|
The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. Please review the Funds’ prospectus for more information regarding the funds’ fees and expenses. Eventide Healthcare & Life Sciences Fund performance shown is for No-load Class shares (please see a prospectus for information about other share classes). For performance information current to the most recent month-end, please call toll-free 877-771-EVEN (3836).
Eventide Healthcare & Life Sciences Fund expenses: Total Expenses 1.52%.
The Eventide Healthcare & Life Sciences Fund is a non-diversified mutual fund investing in healthcare and life sciences companies. Distinctives of the Fund include its concentration of investments in the drug related industries, which include pharmaceutical, biotech and similar companies, its low median market capitalization of investment, and its values-based approach to finding companies meeting important human needs. The Fund is managed by Eventide Funds’ CIO Finny Kuruvilla, who holds an MD and a PhD from Harvard University, and has a background as a physician, scientist, and health care venture capitalist.
Dr. Kuruvilla says investors should be aware of the risks of investing: “Investors should appreciate the risks of healthcare investing. Investments in biotech in particular are highly dependent upon company- specific events like clinical trials and regulatory approvals, often with pronounced price movements around these events. Additionally, sometimes excitement in biotech brings large flows of speculative dollars seeking fast returns, and these dollars often have sensitivity to news headlines. Successful investing in biotech requires seeking truly innovative therapies being developed by strong management teams, and the patience to endure idiosyncratic risk sell-offs, like we have experienced in the third quarter of 2015. We believe that over the long-term, the healthcare sector has many favorable trends. In particular, recent advances in the science pipeline feeding into healthcare we believe present attractive opportunities in the space for long-term investors.”
The Fund is managed by Eventide Asset Management, LLC, a Boston-based registered investment advisor practicing values-based investing. Along with the Eventide Healthcare & Life Sciences Fund, Eventide manages the Eventide Gilead Fund (ETGLX) and Eventide Multi-Asset Income Fund (ETNMX). As of September 30, 2015, the Eventide Healthcare & Life Sciences Fund had $301MM in net assets. Eventide Funds as a whole manages more than $2B in net assets.
Wall Street Journal rankings are not intended to constitute investment advice. Rather, you should use the rankings for informational purposes only.
The S&P 500 is an index created by Standard & Poor’s Corp considered to represent the performance of the stock market generally. The Healthcare Blended Index is composed of equal parts of the S&P 400 Healthcare Index and the S&P 600 Healthcare Index. Investors cannot directly invest in an index; unmanaged index returns do not reflect any fees, expenses or sales charges.
Mutual Funds involve risk including the possible loss of principal. The Eventide Funds can invest in smaller-sized companies which may experience higher failure rates than larger companies and they normally have a lower trading volume than larger companies. The Funds’ ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. The Funds can have risk associated with the biotechnology and pharmaceutical industry in which these companies may be heavily dependent on clinical trials with uncertain outcomes and decisions made by the U.S. Food and Drug Administration. The funds can have risk related to option investing. There are special risks associated with investments in foreign companies including exposure to currency fluctuations, less efficient trading markets, political instability and differing auditing and legal standards. The Funds can have risk associated with a higher portfolio turnover, which could result in higher transactional costs. The recent growth rate in the stock market has helped to produce short-term returns that are not typical and may not continue in the future. Because of ongoing market volatility, Fund performance may be subject to substantial short-term changes.
An investor should consider the Funds’ investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about Eventide Funds can be found in the Funds’ prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus please call the fund, toll free at 877-771- EVEN (3836) or visit www.eventidefunds.com. Eventide Funds are distributed by Northern Lights Distributors, LLC, member FINRA, which is not affiliated with Eventide Asset Management, LLC.
Jason Myhre, Director of Advisory Services
877-771-EVEN (3836), x56