*as of September 30, 2019
|Average Annual Total Returns|
|CLASS/INDEX||Quarter||Year to Date||1 Year||3 Year||5 Year||Since Inception|
|AC ONE China||-4.85%||4.93%||-5.17%||4.60%||3.26%||6.82%|
|MSCI China Index||-4.73%||7.62%||-3.93%||7.72%||6.04%||7.43%|
|Hang Seng Index||-8.58%||.95%||-6.10%||3.85%||2.61%||4.31%|
|CLASS/INDEX||Fund||Hang Seng Index||MSCI China Index|
Past performance does not guarantee future results. Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced. The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. The Fund has a 2.00% redemption fee for shares which are withdrawn within 60 days of purchase, which is also not reflected in the performance data. If reflected, the load and/or fee would reduce the performance quoted. The Fund’s gross expense ratio as of June 30, 2019 was 2.55%. Performance data to the most recent month end may be obtained by calling 1-888-964-0788.
The MSCI China Index is a free float-adjusted market capitalization—weighted index of Chinese equities that includes China-affiliated corporations and H shares listed on the Hong Kong Exchange, and B shares listed on the Shanghai and Shenzhen exchanges. The Hang Seng Index is a market-capitalization-weighted stock-market index in Hong Kong. It is used to record and monitor daily changes of the largest companies of the Hong Kong stock market and is the main indicator of the overall market performance in Hong Kong. Indexes assume the reinvestment of all dividends. Indexes are unmanaged statistical composites of stock market performance. Investing in an index is not possible.
AC ONE Asset Management does not give tax or accounting advice to clients. You should consult with your own advisor on the tax and accounting implications of any investment strategy.
Information is obtained from publicly available sources which AC ONE Asset Management believes to be reliable. AC ONE Asset Management makes no warranties or representations as to the accuracy or completeness of the information contained in this commentary and shall not be liable for any errors or inaccuracies herein. Likewise, information contained on third party websites that AC ONE Asset Management may link to is not reviewed in its entirety for accuracy and AC ONE Asset Management assumes no liability for the information contained on these websites.