Eventide Launches the Eventide Multi-Asset Income Fund
BOSTON, MA (Marketwire July 15, 2015) – Eventide is pleased to announce the launch of their third mutual fund, the Eventide Multi-Asset Income Fund. The Multi-Asset Income Fund seeks current income while maintaining the potential for capital appreciation. The Multi-Asset Income fund will follow a flexible and diversified approach to achieve its objective, focused on selecting the most attractive opportunities from a wide universe of possible investments. The portfolio can employ a variety of asset classes to achieve its objectives, including but not limited to, corporate bonds, mortgage-backed bonds, preferred stocks, dividend paying stocks, REITs, MLPs, Yieldco’s, and option writing. The fund is available in four share classes: class A (ETAMX), class C (ETCMX), class N (ETNMX), and class I (ETIMX).
The Multi-Asset Income Fund joins two award-winning funds from Eventide: the Eventide Gilead Fund and the Eventide Healthcare & Life Sciences Fund. The Eventide Funds are managed by Eventide Asset Management, LLC, a Boston-based investment advisor that practices values-based investing. For Eventide, values-based investing is a form of investing that seeks to align investors with their convictions by investing in companies that create real value for their customers, employees, and other key stakeholders.
“We believe that investors can earn attractive returns without sacrificing their values. We strongly believe that value creation is the key indicator of business vitality and a positive leading indicator of financial performance. I am focused on investing in companies that are attractive investments and that our investors can feel good about owning,” said Portfolio Manager, Martin Wildy, CFA. Mr. Wildy joined Eventide’s portfolio management team in January 2015 to focus on the development and launch of the Multi-Asset Income Fund. “In an environment with relatively low interest rates, investors have a tendency to reach for yield, often taking underappreciated risks. The Multi-Asset Income Fund is designed as a solution for income seeking investors by investing in a broad and diverse array of income opportunities.”
Prior to joining Eventide, Mr. Wildy was with Aris Wealth Services for over 8 years where he was a Senior Portfolio Manager and member of an investment committee responsible for overseeing the firm’s $1.8 billion in client assets. His responsibilities at Aris included development and oversight of diversified income, socially responsible and faith-based investment strategies. Mr. Wildy is a CFA Charterholder with over 15 years of investment experience which has spanned both equity and fixed-income portfolio management as well as equity research responsibilities. The Multi-Asset Income Fund will be managed by Mr. Wildy with input from Eventide’s other portfolio managers. Dr. Finny Kuruvilla, Eventide’s Chief Investment Officer, serves in an oversight capacity for all of the firm’s investment strategies while David Barksdale provides quantitative analysis and tools which will assist in the management of the fund.
The Fund will target both a monthly distribution and an annual distribution to its shareholders. The Fund expects that its distributions will consist of capital gains, interest, and dividend income. The Fund may make interest, dividend income, and short-term capital gain distributions monthly, and distributions of its net realized long-term capital gains annually.
“We are excited to have Martin on board and to be launching the Eventide Multi-Asset Income Fund. Since our inception in 2008, we have launched strategies in which we have had high levels of conviction. Our existing two mutual funds have performed well and have generated $2.3 billion in net assets under management. We are launching the Multi-Asset Income Fund to give our investors a mutual fund in their portfolios that complement our existing two funds, which have tended to focus on the growth-style of investing,” said Eventide’s CEO, Robin John.
“We will be managing the fund tactically based on the environment and will not chase yields at the risk of capital loss. Over the past decade, we have seen even high income bond yields come down dramatically and have seen similar patterns with government bonds. Our goal is to generate consistent and steady yield from a wide set of income sources while managing risk for our investors.”
Mutual Funds involve risk including the possible loss of principal. In general, the price of a fixed income security falls when interest rates rise. Hedging strategies may not perform as anticipated by the adviser and the Fund could suffer losses by hedging with underlying money market funds if stock prices do not decline. If money market funds are utilized, such Underlying Funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, your cost of investing in the Fund will be higher than the cost of investing directly in Underlying Funds and may be higher than other mutual funds that do not invest in Underlying Funds.
The Fund may invest, directly or indirectly, in “junk bonds.” Such securities are speculative investments that carry greater risks than higher quality debt securities. As with any investment, there are risks associated with REITs. Risks include declines from deteriorating economic conditions, changes in the value of the underlying property, and defaults by borrowers. Investments in foreign securities could subject the Fund to greater risks including, currency fluctuation, economic conditions, and different governmental and accounting standards. There are risks associated with the sale and purchase of call and put options. The Fund is a new mutual fund and has a limited history of operations for investors to evaluate.
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).
Eventide Funds are distributed by Northern Lights Distributors, LLC, member FINRA, which is not affiliated with Eventide Asset Management, LLC.