Overview

Relative to peers, the Fund has had lower volatility, higher risk-adjusted returns and better drawdown protection.3

3-year period ended 12/31/14

  • A Shares at NAV
  • Lipper Flexible Portfolio Funds Classification Average

Average Annual Returns (%) as of Dec 31, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
02/28/2015
Fund at NAV 2.95 1.21 2.21 3.28 7.67 9.13
Fund w/Max Sales Charge -3.00 -4.61 -3.65 -2.63 5.56 7.26
40% MSCI All Country World Index / 60% Barclays U.S. Aggregate Bond Index 1.66 1.58 2.31 6.13 6.36 7.12 8.18
Barclays U.S. Aggregate Bond Index4 -0.94 1.23 1.14 5.05 2.76 4.29 3.01
MSCI All Country World Index5 5.57 1.91 3.92 7.55 11.57 10.70 15.88
12/31/2014
Fund at NAV -0.98 0.73 3.08 3.08 7.96 8.87
Fund w/Max Sales Charge -6.68 -5.09 -2.86 -2.86 5.85 6.91
40% MSCI All Country World Index / 60% Barclays U.S. Aggregate Bond Index -0.72 1.23 5.31 5.31 7.25 6.61 7.86
Barclays U.S. Aggregate Bond Index4 0.09 1.79 5.97 5.97 2.66 4.45 2.80
MSCI All Country World Index5 -1.93 0.41 4.16 4.16 14.09 9.16 15.36
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than one year is cumulative. Max Sales Charge: 5.75%.

Fund Facts as of Jan 31, 2015

Class A Inception 09/30/2011
Investment Objective Total return
Total Net Assets $461.1M
Minimum Investment $1000
Expense Ratio6 1.40%
CUSIP 277902490


Portfolio Management

Richard Bernstein Managed Fund since inception

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. In emerging countries, these risks may be more significant. Investing in an exchange-traded fund (ETF) exposes the Fund to all of the risks of that ETF and, in general, subjects the Fund to a pro rata portion of the Fund's fees and expenses. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Average Annual Returns (%) as of Dec 31, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
01/31/2015
Fund at NAV -0.71 -0.77 -0.71 3.93 7.03 8.41
Fund w/Max Sales Charge -6.41 -6.46 -6.41 -2.07 4.94 6.50
40% MSCI All Country World Index / 60% Barclays U.S. Aggregate Bond Index 0.64 1.00 0.64 6.74 6.47 6.92 7.86
Barclays U.S. Aggregate Bond Index4 2.10 2.92 2.10 6.61 3.07 4.56 3.37
MSCI All Country World Index5 -1.56 -1.85 -1.56 6.80 11.37 9.79 14.40
12/31/2014
Fund at NAV -0.98 0.73 3.08 3.08 7.96 8.87
Fund w/Max Sales Charge -6.68 -5.09 -2.86 -2.86 5.85 6.91
40% MSCI All Country World Index / 60% Barclays U.S. Aggregate Bond Index -0.72 1.23 5.31 5.31 7.25 6.61 7.86
Barclays U.S. Aggregate Bond Index4 0.09 1.79 5.97 5.97 2.66 4.45 2.80
MSCI All Country World Index5 -1.93 0.41 4.16 4.16 14.09 9.16 15.36
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than one year is cumulative. Max Sales Charge: 5.75%.

Calendar Year Returns (%)

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Fund at NAV 7.59 13.50 3.08
40% MSCI All Country World Index / 60% Barclays U.S. Aggregate Bond Index 5.83 10.79 8.96 -16.34 17.28 9.55 1.92 9.10 7.38 5.31
Barclays U.S. Aggregate Bond Index4 2.43 4.33 6.97 5.24 5.93 6.54 7.84 4.21 -2.02 5.97
MSCI All Country World Index5 10.84 20.95 11.66 -42.19 34.63 12.67 -7.35 16.13 22.80 4.16

Fund Facts

Expense Ratio6 1.40%
Class A Inception 09/30/2011
Distribution Frequency Annually


Morningstar™ Ratings as of Jan 31, 2015

Time Period Rating Rating (Load Waived) Funds in
Conservative Allocation
Category
Overall ** *** 575
3 Years ** *** 575
Based on Risk-Adjusted Returns.

The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics.

© 2014 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers is responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on how a fund ranks on a Morningstar Risk-Adjusted Return measure against other funds in the same category. This measure takes into account variations in a fund's monthly performance after adjusting for sales loads (except for load-waived A shares) redemption fees, and the risk-free rate, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. Load-waived A share star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms (e.g., plan participants of a defined contribution plan). Not all A share mutual funds for which Morningstar calculates a load-waived A share star rating may actually waive their front-end sales load. Therefore, Morningstar strongly encourages investors to contact their investment professional to determine whether they are eligible to purchase the A share without paying the front load. The Morningstar Rating may differ among share classes of a mutual fund as a result of different sales loads and/or expense structure.

NAV History

Date NAV NAV Change
Mar 03, 2015 $12.89 $-0.06
Mar 02, 2015 $12.95 $0.02
Feb 27, 2015 $12.93 $-0.01
Feb 26, 2015 $12.94 $0.00
Feb 25, 2015 $12.94 $0.00
Feb 24, 2015 $12.94 $0.06
Feb 23, 2015 $12.88 $0.01
Feb 20, 2015 $12.87 $0.06
Feb 19, 2015 $12.81 $-0.01
Feb 18, 2015 $12.82 $0.03

Distribution History7

Ex-Date Distribution Reinvest NAV
Dec 23, 2014 $0.05380 $12.72
Dec 23, 2013 $0.04710 $12.31
Dec 20, 2012 $0.10720 $11.12
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus

Capital Gain History7

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 23, 2014 $0.03810 $0.08170 $12.72
Dec 23, 2013 $0.01950 $0.06820 $12.31
Dec 20, 2012 $0.03970 $0.00600 $11.12
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. In emerging countries, these risks may be more significant. Investing in an exchange-traded fund (ETF) exposes the Fund to all of the risks of that ETF and, in general, subjects the Fund to a pro rata portion of the Fund's fees and expenses. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Portfolio

Asset Mix (%)8,9,10 as of Dec 31, 2014

Equity 61.4
U.S. Equity 40.0
Non-U.S. Equity 21.4
Fixed Income 27.8
U.S. Treasuries 12.8
Short (0-3 Yrs.) 3.4
Intermediate (3-10 Yrs.) 9.4
Long (10+ Yrs.) 0.0
High Yield Corporates 0.0
Investment Grade Corporates 0.0
Non-U.S. Sovereign 0.0
Munis 14.9
Cash 10.8

Portfolio Statistics as of Dec 31, 2014

Median Market Cap $21.17B
Price/Earnings Ratio 16.79
Number of Equity Holdings 343
Price/Book Ratio 2.13
Number of Holdings 397
Average Maturity 12.02 yrs.
Effective Duration 6.12 yrs.


GICS Sector Breakdown (%)9,10,11 as of Dec 31, 2014

Sector Fund MSCI
ACWI5
Consumer Discretionary 10.97 12.10
Consumer Staples 11.02 9.54
Energy 5.31 7.99
Financials 13.46 21.81
Health Care 10.30 11.63
Industrials 11.25 10.52
Information Technology 14.91 13.89
Materials 3.32 5.38
Telecom Services 3.88 3.76
Utilities 4.76 3.39
Cash 10.82 0.00

Assets by Country (%)8,9 as of Dec 31, 2014

United States 67.76
Japan 6.29
France 1.68
United Kingdom 1.58
Switzerland 1.36
Germany 1.45
Spain 1.11
China 1.18
Korea 0.80
View All


Fund Holdings (%)8,12 as of Jan 31, 2015

Holding % of Net Assets
EV Cash Reserves Fund 15.33%
Market Vectors High Yield Municipal Index ETF 8.86%
S&P500 EMINI FUT Mar15 8.41%
SPDR Nuveen S&P High Yield Municipal Bond ETF 6.79%
mini MSCI Emg Mkt Mar15 5.57%
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund 2.39%
United States Treasury Note/Bond 1.69%
United States Treasury Note/Bond 1.43%
United States Treasury Note/Bond 1.24%
United States Treasury Note/Bond 1.16%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. In emerging countries, these risks may be more significant. Investing in an exchange-traded fund (ETF) exposes the Fund to all of the risks of that ETF and, in general, subjects the Fund to a pro rata portion of the Fund's fees and expenses. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Insights & Analysis

Quarterly Commentary

A Word On The Markets  as of Dec 31, 2014

U.S. stocks led the way in the fourth quarter of 2014, while international equity markets delivered mixed performance. Trading was volatile during the three-month period, as concerns about global economic growth alternated with optimism regarding the U.S. economy.

In the U.S., equities fell sharply early in the period amid investor worries about slowing overseas growth and falling oil prices. However, U.S. stocks subsequently rallied following positive economic data and a vote of confidence from the U.S. Federal Reserve (Fed), which ended its bond-buying stimulus program. Continued job market gains and an uptick in manufacturing orders helped major U.S. stock indexes reach multiple record highs in November.

In December, the collapse of Russia’s currency and mounting concerns over the steep decline in oil prices sent stocks sharply lower. But U.S. equities rebounded near period-end after the Fed pledged to be “patient” in raising interest rates and revised third-quarter data showed accelerating U.S. economic growth amid increased consumer spending. Globally, China’s stock market staged a strong rally despite the country’s continued economic sluggishness. Weak economic data weighed on equity markets in Japan, Europe and Russia.

Reflecting divergent economic outlooks for the U.S. and other global regions, major stock market indexes delivered mixed results for the fourth quarter. The Dow Jones Industrial Average13 advanced 5.20%, hitting multiple all-time closing highs during the quarter. The broader S&P 500 Index14 also attained new highs, finishing the period with a 4.93% gain. Globally, the MSCI World Index15 returned 0.66%. The MSCI EAFE Index16 of developed-market international equities lost 3.57%, while the MSCI Emerging Markets17 Index dropped 4.50%.

Performance Summary 

Eaton Vance Richard Bernstein All Asset Strategy Fund (the Fund) underperformed its benchmark, the Barclays U.S. Aggregate Bond Index (the Index),4 for the quarter ended December 31, 2014, returning 0.73% for Class A shares at net asset value versus the Index’s 1.79% return.

  • The primary driver of the Fund’s underperformance was its significant allocation to cash and shorter-duration Treasurys.
  • On the positive side, the Fund’s market selection within the fixed-income asset class contributed positively to the Fund’s performance.

Average Annual Returns (%) as of Dec 31, 2014

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
Fund at NAV -0.98 0.73 3.08 3.08 7.96 8.87
Fund w/Max Sales Charge -6.68 -5.09 -2.86 -2.86 5.85 6.91
40% MSCI All Country World Index / 60% Barclays U.S. Aggregate Bond Index -0.72 1.23 5.31 5.31 7.25 6.61 7.86
Barclays U.S. Aggregate Bond Index4 0.09 1.79 5.97 5.97 2.66 4.45 2.80
MSCI All Country World Index5 -1.93 0.41 4.16 4.16 14.09 9.16 15.36
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than one year is cumulative. Max Sales Charge: 5.75%.

Fund Facts as of Dec 31, 2014

Class A Inception 09/30/2011
Expense Ratio6 1.40%


Contributors 

Factors contributing to the Fund’s relative performance compared to the Index during the quarter:

  • The Fund’s high-yield municipal bond exposure had the highest return among asset classes held by the Fund. This segment of the fixed-income market performed well for the fourth quarter of 2014.
  • The Fund’s equity portfolio outperformed the MSCI All Country World Index, the equity portion of the Fund’s secondary blended benchmark. This outperformance was driven by the Fund’s underweight in Europe, its overweight in the U.S., its underweight in the energy sector, its underweight in large-cap names and its holdings of cheap U.S. large-cap, high-beta stocks.

Detractors 

Factors detracting from the Fund’s relative performance compared to the Index during the quarter:

  • The mix of U.S. Treasurys, both short- and intermediate-duration, held by the Fund underperformed the Index and had a negative impact on the Fund’s relative performance.
  • The Fund’s modest cash balance also contributed negatively to relative performance.

Investment Outlook And Fund Positioning 

Our annual outlook highlights several key viewpoints embedded within the Fund. Namely, the ECB seems to be hampering European growth, Japan is attempting to grow its market share, Treasurys continue to offer diversification, high-yield municipals remain attractive and cheap high-beta stocks look undervalued. It appears that the marketplace has conflicting views of the environment. Our own stance is based on an improving economy (evident in initial jobless claims), declining energy and gasoline prices, a strong U.S. dollar, falling interest rates and potentially underestimated continued growth in profits. Thus, we continue to believe that the current cycle may be an elongated one still offering opportunities, and that the Fund is well-positioned to benefit from one of the strongest equity bull markets of our careers.

The views expressed in this report are those of portfolio manager(s) and are current only through the date stated at the top of this page. These views are subject to change at any time based upon market or other conditions, and Eaton Vance disclaims any responsibility to update such views. These views may not be relied upon as investment advice and, because investment decisions are based on many factors, may not be relied upon as an indication of trading intent on behalf of any Eaton Vance fund. This commentary may contain statements that are not historical facts, referred to as "forward looking statements". The Fund's actual future results may differ significantly from those stated in any forward-looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of Fund shares, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in the Fund's filings with the Securities and Exchange Commission.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. In emerging countries, these risks may be more significant. Investing in an exchange-traded fund (ETF) exposes the Fund to all of the risks of that ETF and, in general, subjects the Fund to a pro rata portion of the Fund's fees and expenses. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Attribution

Attribution available in Fund Literature tab.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. In emerging countries, these risks may be more significant. Investing in an exchange-traded fund (ETF) exposes the Fund to all of the risks of that ETF and, in general, subjects the Fund to a pro rata portion of the Fund's fees and expenses. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. An imbalance in supply and demand in the income market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, established companies. Derivative instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Biography
Richard Bernstein

Richard Bernstein

Founder, CEO and Chief Investment Officer
Richard Bernstein Advisors LLC

Richard Bernstein is the chief executive officer/chief investment officer of Richard Bernstein Advisors LLC.

Mr. Bernstein founded Richard Bernstein Advisors LLC (RBA) in 2009. The firm utilizes a unique top-down approach to investing, focusing on macro trends rather than individual stock selection. RBA manages several accounts in partnership with several leading financial institutions. Mr. Bernstein has over 30 years’ experience on Wall Street, most recently as the chief investment strategist at Merrill Lynch & Co. Prior to joining Merrill Lynch in 1988, he held positions at E.F. Hutton and Chase Econometrics/IDC.

A much-noted expert on equity, style and asset allocation, Mr. Bernstein was voted to Institutional Investor magazine’s annual “All-America Research Team” 18 times, and is one of only 49 analysts inducted into the Institutional Investor “Hall of Fame.” He was also twice named to both Fortune magazine’s “All-Star Analysts” and to Smart Money magazine’s “Power 30”, and was a member of Registered Rep’s “Ten to watch” for 2012. His book “Style Investing: Unique Insight into Equity Management” is widely viewed as the seminal book on style-oriented investment strategies. He donates the profits from that and his other book, “Navigate the Noise: Investing in the New Age of Media and Hype,” to charity.

Mr. Bernstein is co-chair of the Alfred P. Sloan Foundation endowment’s Investment Committee (~$1.8 billion) and sits on the Hamilton College endowment’s Investment Committee (~$700 million); he is a trustee of both institutions. He is also an Adjunct Professor of Finance at the NYU/Stern Graduate School of business, and is a member of the Journal of Portfolio Management’s Advisory Committee. Rich holds an MBA in finance, with Beta Gamma Sigma distinction, from New York University, and a BA in economics from Hamilton College. He has lectured on finance and economics at numerous colleges, universities and professional forums.

Education
  • B.A. Hamilton College
  • M.B.A. Stern School of Business, New York University
Experience
  • Managed Fund since inception

Fund Literature

Fund Literature

Annual Report

Attribution

Income, Volatility and Taxes Guide

Commentary

Fact Sheet

Volatility: Managing risk while seeking to grow client portfolios

Full Prospectus

Holdings-1st or 3rd fiscal quarters-www.sec.gov

Are you managing volatility or is it managing you?

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