Market Neutral

Market neutral portfolios seek income while maintaining low correlation to fluctuations in market conditions. Market neutral portfolios typically hold 50% of net assets in long positions and 50% of net assets in short positions in order to deliver positive returns regardless of the direction of the market. This category is only used in Morningstar's custom fund and separate account databases. Morningstar®

Calamos Market Neutral Income (CVSIX)

Performance (1-yr.): 4.93% Expenses: 1.14%
Performance (1-mo.): 1.32% Total Assets: $3.55B
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Causeway Global Absolute Return Fund (CGAIX)

Performance (1-yr.): 14.79% Expenses: 1.96%
Performance (1-mo.): 0.93% Total Assets: $118.67M
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Cognios Market Neutral Large Cap Fund (COGIX)

Performance (1-yr.): 5.42% Expenses: 2.00%
Performance (1-mo.): 0.51% Total Assets: $11.81M
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Driehaus Event Driven Fund (DEVDX)

Performance (1-yr.): Expenses: 2.00%
Performance (1-mo.): 1.37% Total Assets: $73.19M
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DWS Diversified Market Neutral Fund (DDMAX)

Performance (1-yr.): 1.08% Expenses: 1.81%
Performance (1-mo.): 0.35% Total Assets: $313.32M
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Federated Absolute Return Fund (FMAAX)

Performance (1-yr.): 7.55% Expenses: 1.34%
Performance (1-mo.): 1.88% Total Assets: $226.33M
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GMO Alpha Only Fund (GGHEX)

Performance (1-yr.): 0.94% Expenses: 0.66%
Performance (1-mo.): 0.08% Total Assets: $3.54B
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Gotham Neutral Fund (GONIX)

Performance (1-yr.): Expenses: 2.25%
Performance (1-mo.): 1.24% Total Assets: $115.62M
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HAGIN Keystone Market Neutral Fund (HKMNX)

Performance (1-yr.): 1.93% Expenses: 2.21%
Performance (1-mo.): 0.63% Total Assets: $504,727
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Invesco All Cap Market Neutral Fund (CPNAX)

Performance (1-yr.): Expenses: 1.62%
Performance (1-mo.): 1.51% Total Assets: $10.05M
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Top Performing Market Neutral Funds As of 03.05.2014

Visium Event Driven Fund (VIDVX)

Total Return: 3.20%

Turner Market Neutral Fund (TMNCX)

Total Return: 2.81%

Whitebox Market Neutral Equity Fund (WBLFX)

Total Return: 2.11%

BlackRock Global Long/Short Equity Fund (BDMAX)

Total Return: 15.00%

Whitebox Market Neutral Equity Fund (WBLFX)

Total Return: 14.86%

Causeway Global Absolute Return Fund (CGAIX)

Total Return: 14.79%

Whitebox Market Neutral Equity Fund (WBLFX)

Total Return: 6.86%

Causeway Global Absolute Return Fund (CGAIX)

Total Return: 6.06%

Vanguard Market Neutral Fund (VMNIX)

Total Return: 4.70%

* Annualized