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®

BPV Wealth Preservation Fund (BPVPX)

Performance (1-yr.): 3.59% Expenses: 1.09%
Performance (1-mo.): 0.58% Total Assets: $71.58M
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Calamos Market Neutral Income (CVSIX)

Performance (1-yr.): 6.09% Expenses: 1.14%
Performance (1-mo.): 0.41% Total Assets: $3.98B
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Catalyst Event Arbitrage Fund (CEAAX)

Performance (1-yr.): 3.82% Expenses: 1.82%
Performance (1-mo.): 1.74% Total Assets: $17.1M
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Causeway Global Absolute Return Fund (CGAIX)

Performance (1-yr.): 4.96% Expenses: 1.96%
Performance (1-mo.): 2.11% Total Assets: $141.68M
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Cognios Market Neutral Large Cap Fund (COGIX)

Performance (1-yr.): 5.72% Expenses: 2.00%
Performance (1-mo.): 1.47% Total Assets: $12.51M
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Driehaus Event Driven Fund (DEVDX)

Performance (1-yr.): Expenses: 1.56%
Performance (1-mo.): 1.84% Total Assets: $270.74M
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DWS Diversified Market Neutral Fund (DDMAX)

Performance (1-yr.): 0.92% Expenses: 1.81%
Performance (1-mo.): 0.35% Total Assets: $256.16M
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Federated Absolute Return Fund (FMAAX)

Performance (1-yr.): 10.90% Expenses: 1.34%
Performance (1-mo.): 1.83% Total Assets: $214.6M
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GMO Alpha Only Fund (GGHEX)

Performance (1-yr.): 0.90% Expenses: 0.66%
Performance (1-mo.): 0.46% Total Assets: $5.07B
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Gotham Neutral Fund (GONIX)

Performance (1-yr.): Expenses: 2.25%
Performance (1-mo.): 2.38% Total Assets: $363.57M
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Top Performing Market Neutral Funds As of 07.03.2014

Visium Event Driven Fund (VIDVX)

Total Return: 4.07%

Driehaus Event Driven Fund (DEVDX)

Total Return: 1.84%

Federated Absolute Return Fund (FMAAX)

Total Return: 1.83%

Turner Medical Sciences Long/Short Fund (TMSCX)

Total Return: 19.58%

Visium Event Driven Fund (VIDVX)

Total Return: 12.53%

Federated Absolute Return Fund (FMAAX)

Total Return: 10.90%

Whitebox Market Neutral Equity Fund (WBLFX)

Total Return: 6.11%

Turner Medical Sciences Long/Short Fund (TMSCX)

Total Return: 5.15%

Calamos Market Neutral Income (CVSIX)

Total Return: 4.59%

* Annualized