Covered Call / Cash Secured Put Liquid Alternatives
Global Secured Options Portfolio
|Equities||Ticker||As of 05/26/23||As of 3/31/23||Inception Date||Gross Expense Ratio||Net Expense Ratio|
|Nav||YTD||1 Year||3 Year||5 Year||10 Year||Since Inception|
|Global Secured Options||NOVIX||4.90||9.13%||N/A||N/A||N/A||N/A||N/A||09/28/12||1.30%||1.08%|
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value will change so that an investor’s shares when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance of periods less than one year are cumulative and not annualized. Returns assume the deduction of fund expenses. Performance data current to the most Month- end can be obtained by calling 1-800-442-8299.
Year to Date (YTD) returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested.
The Glenmede Global Secured Options Strategy utilizes active options selection across a basket of global broad based ETFs as it seeks to:
- Dampen volatility
- Generate option premium income
- Balance upside participation with a downside cushion
- Provide additional diversification to asset allocation with Volatility Risk Premium (VRP)*
We believe the combination of these characteristics has the potential to outperform the MSCI ACWI over the long term on a risk adjusted basis.
Active management approach Team seeks to identify and select the “better option”
Active Options Selection Focus on options, not stock selection
Adaptable Process Incorporate market conditions into strategy investment decisions versus systematic rules
Asset class expertise Extensive experience navigating various market environments
Portfolio Managers average 23 years of Options investment experience
Size matters Designed to minimize the impact to alpha sources through all market cycles
Sean E. Heron, CFA
Portfolio Manager, Derivatives
Chief Investment Officer, Portfolio Manager
Before you invest in the Glenmede Funds please refer to the equity prospectus and/or bond prospectus and/or equity institutional class prospectus for important information about the investment company, including investment objectives, risks, charges and expenses. You may also obtain a hard copy of the prospectus by calling 1-800-442-8299. The prospectus should be read carefully before you invest or send money. Related Literature and Disclosures
*The Global Secured Options Portfolio has a contractual management fee/expense waivers that continue through February 29, 2024. To the extent a Fund’s expenses were reduced by waivers, the Fund’s total returns were increased. In these cases, the Fund’s total returns would have been lower had there been no waivers. This is only applicable to the tabs with the Funds with the fee waiver.
The MSCI ACWI Ex-U.S. is a market-capitalization-weighted index maintained by Morgan Stanley Capital International (MSCI) and designed to provide a broad measure of stock performance throughout the world, with the exception of U.S.-based companies. The MSCI All Country World Index Ex-U.S. includes both developed and emerging markets. The MSCI EAFE Index is a group of unmanaged securities widely regarded by investors to be representative of the stock markets of Europe, Australia, and the Far East. The Index is a total return index net of foreign withholding taxes on dividends. MSCI EAFE Index is an equity index which captures large and mid-cap representation across Developed Markets countries* around the world, excluding the US and Canada. *Developed Markets countries in the MSCI EAFE Index include: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the UK. One cannot invest directly in an index. Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.
The Glenmede Funds are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this website should be considered a solicitation to buy or an offer to sell shares of any Glenmede Fund in any jurisdiction where the offer of solicitation would be unlawful under the securities laws of such jurisdiction.
Beta: systematic risk of a portfolio; represents sensitivity to the benchmark. Put: an option contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying asset at a set price within a specified time. Strike: price at which one would have the right to buy or sell the stock. Covered Call: an options strategy whereby an investor holds a long position in asset and writes (sells) call options on that same asset in an attempt to generate increased income from the asset.
Mutual fund investing involves risk. Principal loss is possible.
The Fund invests in options which have risks of unlimited losses of the underlying holdings due to unanticipated market movements and failure to correctly predict the direction of the securities prices, interest rates and currency exchange rates. This investment may not be suitable for all investors. Investing in Non-U.S. securities may entail risk due to foreign economic and political developments, and may be subject to currency risks and differences in accounting methods. These risks are greater in emerging markets. ETFs are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a discount to its net asset value, an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund’s ability to sell its shares.
The Glenmede Funds are distributed by Quasar Distributors, LLC.