Van Eck Global - Since 1955

Multi-Manager Alternatives FundVMAIX

  • Daily Price   as of 04/22/2014

    NAV DAILY CHANGE
    $9.39  $0.04 / +0.4%
  • Class I Details: VMAIX

    INCEPTION DATE GROSS/NET EXPENSES1
    06/05/09 3.46%/3.25%
  • Fund Allocations (%) as of 03/31/14

    STRATEGY % OF NET ASSETS
    Event Driven 25.60
    Fixed Income 17.12
    Global Macro 10.41
    Long/Short Equity 23.26
    Tactical Overlay 14.78
    Cash/Equivalents 8.83
    Total 100.00

    For definitions on these hedge-style strategies please visit the Commentary tab.

  • Fund Details 
    as of 03/31/14

    • Number of Approved
      Sub-Advisers
      9
    • Net Assets (All Classes)
      $35.9M
    • Number of Holdings
      437
    • Turnover Rate (2013)
      249%
    • Benchmark Indices2
      HFRX Global Hedge Fund Index

    *Price-to-Earnings (P/E) ratio is the price of a stock divided by its earnings per share. Price-to-Book (P/B) ratio is the ratio of a stock's price to its book value.

  • Fund Allocations (%) as of 03/31/14

    Event Driven
    Capital Structure Sub-Adviser: Tiburon 14.18
    U.S. Equity Sub-Adviser: Coe 11.42
    Volatility Arbitrage Structured Note
    Sub-Total 25.60
    Fixed Income
    Global Credit Opportunity Sub-Adviser: SW 5.09
    Opportunistic High Yield Sub-Adviser: Horizon 12.03
    Sub-Total 17.12
    Global Macro
    Managed Futures AQR Managed Futures Fund 10.41
    Sub-Total 10.41
    Long/Short Equity
    U.S. Equity Sub-Adviser: Millrace 11.91
    U.S. Equity Sub-Adviser: RiverPark 11.35
    Sub-Total 23.26
    Tactical Overlay Internally Managed 14.78
    Cash/Equivalents 8.83
    Total 100.00
  • Market Exposures (%) as of 03/31/14

    Equity Fixed Income Futures/ Other
    Long Positions 54.43 8.08 10.41
    Short Positions 20.53 0.40 0.00
    Net Exposure 33.91 7.63 10.41
  • Three-Year Maximum Drawdown (%) 
    as of 03/31/14

    The Fund -5.58
    HFRXGL Index2 -10.03
    S&P® 500 Index2 -16.26
    Source: Van Eck Global, Morningstar.
    Maximum drawdown is the largest negative change in Fund value over a given period of time.
  • Approved Sub-Advisers by Investment Strategy 
    as of 03/31/14

    Approved Sub-Adviser Investment Strategy Firm Founded
    Acorn Derivatives Management Corp Volatility Arbitrage 1993
    Coe Capital Management, LLC Event Driven 1999
    Dix Hills Partners, LLC Discretionary Macro 2003
    Horizon Asset Management, LLC Opportunistic High Yield 1994
    Martingale Asset Management L.P. Long/Short Equity 1987
    Millrace Asset Group, Inc. Long/Short Equity 2001
    RiverPark Advisors, LLC Long/Short Equity 2006
    SW Asset Management, LLC Long/Short Fixed Income 2009
    Tiburon Capital Management, LLC Event Driven 2009

  • Manager Selection Process

    Manager Selection Process 
  • Industry Benchmarks: Know Your Indices

    • The HFRX Global Hedge Fund Index is designed to be representative of the overall composition of the hedge fund universe. It is comprised of eight strategies: convertible arbitrage, distressed securities, equity hedge, equity market neutral, event driven, macro, merger arbitrage, and relative value arbitrage. The strategies are asset weighted based on the distribution of assets in the hedge fund industry.

            

    • The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sectors.

      All indices listed are unmanaged and are not securities in which investments can be made.

    • Important Disclosure 

      Unless otherwise stated, portfolio facts and statistics are shown for Class A shares; other classes may have different characteristics. 

      NAV: Unless you are eligible for a waiver, the public offering price you pay when you buy Class A shares of the Fund is the Net Asset Value (NAV) of the shares plus an initial sales charge. The initial sales charge varies depending upon the size of your purchase.  No sales charge is imposed where Class A shares are issued to you pursuant to the automatic investment of income dividends or capital gains distributions. It is the responsibility of the financial intermediary to ensure that the investor obtains the proper “breakpoint” discount. Class C, Class I and Class Y do not have an initial sales charge; however, Class C does charge a contingent deferred redemption charge.   See the prospectus and summary prospectus for more information.

      1Expenses are calculated for the 12-month period ending 12/31/13: Class A: Gross 3.60% and Net 3.60%; Class C: Gross 43.64% and Net 4.29%; Class I: Gross 3.46% and Net 3.25%; and Class Y: Gross 3.74% and Net 3.27%. Expenses are capped contractually through 05/01/14 at 2.40% for Class A; 3.15% for Class C; 1.95% for Class I; and 2.00% for Class Y. Caps exclude certain expenses such as acquired fund fees and expenses, interest expense, trading expenses, dividends and interest payments on securities sold short, taxes and extraordinary expenses.

      2The HFRX Global Hedge Fund Index is designed to be representative of the overall composition of the hedge fund universe, and includes convertible arbitrage, distressed securities, equity hedge, equity market neutral, event driven, macro, merger arbitrage, and relative value arbitrage strategies. The S&P® 500 Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sectors. All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

      The views and opinions expressed are those of Van Eck Global. Fund manager commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Any discussion of specific securities mentioned in the commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary.

      You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program rather than a complete program. Because the Fund implements a fund-of-funds strategy, an investor in the Fund will bear the operating expenses of the “Underlying Funds” in which the Fund invests. The total expenses borne by an investor in the Fund will be higher than if the investor invested directly in the Underlying Funds, and the returns may therefore be lower. The Fund, the Sub-Advisers and the Underlying Funds may use aggressive investment strategies, including absolute return strategies, which are riskier than those used by typical mutual funds. If the Fund and Sub-Advisers are unsuccessful in applying these investment strategies, the Fund and you may lose more money than if you had invested in another fund that did not invest aggressively. The Fund is subject to risks associated with the Sub-Advisers making trading decisions independently, investing in other investment companies, using a particular style or set of styles, basing investment decisions on historical relationships and correlations, trading frequently, using leverage, making short sales, being non-diversified and investing in securities with low correlation to the market. The use of leverage may magnify losses. The Fund is also subject to risks associated with investments in foreign markets, emerging market securities, small cap companies, debt securities, derivatives, commodity-linked instruments, illiquid securities, asset-backed securities and CMOs. Please see the prospectus and summary prospectus for information on these as well as other risk considerations.

      Investing involves risk, including possible loss of principal. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information.  Please read them carefully before investing. 

      Not FDIC Insured — No Bank Guarantee — May Lose Value 

      Van Eck Securities Corporation, Distributor
      335 Madison Avenue, 19th Floor
      New York, NY 10017
      800.826.2333