Collins Long/Short Credit Fund

The Collins Long/Short Credit Fund is an opportunistic alternative mutual fund which targets compelling, non-correlated1 risk-adjusted returns by investing both long and short in credit instruments and dynamically adjusting portfolio exposures in an effort to capitalize on different market environments.

Since 2004, Pinebank has executed a flexible long/short investment style that captures opportunities throughout a credit cycle leveraging Portfolio Manager Oren Cohen's 25 years of experience in the industry.

Collins Capital has a long-standing relationship with Pinebank and finds the manager's key differentiator is his understanding of the credit cycle and moving the portfolio's exposures accordingly.

1Correlation is the extent to which the values of different types of investments move in tandem with one another in response to changing economic and market conditions.

  • Aim to capitalize on opportunities across all phases of credit cycle, irrespective of market direction
  • Maintain an unbiased, disciplined approach to investing with a flexible trading orientation
  • Combine top-down and bottom-up fundamental research process
  • Disciplined investing across capital structure focused on asset coverage, free cash flow2, and identifiable catalysts
  • Integrate risk management at both the individual investment and portfolio levels - utilizing both industry diversification and active position monitoring

2Free cash flow is a measure of financial performance calculated as operating cash flow minus capital expenditures.

  • True long/short approach with the goals of generating positive returns independent of market direction and successfully navigating tough credit markets
  • Ability to be materially net long when economic and credit market conditions warrant and materially short when they do not
  • Flexible investment style within the credit universe allows adaptation to the constantly changing investment environment
  • Very focused on maintaining a liquid portfolio even in periods of credit dislocation
  • We believe the Fund may be a compelling bond alternative for investors that want credit exposure that is not dependent on market direction
  • Ability to go long and short provides alternative return stream versus core long-only bond holdings
  • Credit-driven exposures that can add diversification to traditional interest rate-sensitive bond portfolios
  • Given that bonds appear to have reached a ceiling, we believe that the traditional diversification benefit in a typical equity/bond portfolio has been reduced going forward
  • As the credit markets were supported for the past several years, investors were forced to take on much more risk for much less yield – a dynamic which subsequently caused significant selling in recent months as global macroeconomic uncertainty arose
  • In a volatile environment, credit selection is key and a nimble, long/short approach to high yield investing can be very additive
  • Significant dispersion in the performance of individual credits will create compelling long and short opportunities
Share Class: Class I
Ticker: CCLIX
Cusip Number: 89834E310
Morningstar Style Box: Nontraditional Bond
Fund Structure: Collins Long/Short Credit Fund is a SEC Registered open-end mutual fund that deploys a flexible long/short approach to credit investing, offering daily pricing and liquidity.
The SEC does not endorse, indemnify, approve, nor disapprove of any security.
Fund Advisor: Collins Capital Investments, LLC
Minimum Investment: $0 for certain institutional investors as decribed under "Minimum Initial Investments" on page 24 of the Prospectus; $1,000,000 for all other investors
Additional Investment: $1,000
Liquidity: Daily
Contributions: Daily
Lock Up: None
Inception Date: February 27, 2015
Gross Expense Ratio: 5.67%
Net, Including Investment-Related: 1.61%
Net, Excluding Investment-Related: 1.45%
Expense Cap: 1.45%
  The Advisor has contractually agreed to waive certain fees through February 27, 2018.
  Where indicated, the Net Expense Ratio includes/excludes investment-related expenses such as dividend, interest expense on short positions as well as acquired fund fees and expenses and a fee recoupment.
Share Class: Class A
Ticker: CLCAX
Cusip Number: 89834E294
Morningstar Style Box: Nontraditional Bond
Fund Structure: Collins Long/Short Credit Fund is a SEC Registered open-end mutual fund that deploys a flexible long/short approach to credit investing, offering daily pricing and liquidity.
The SEC does not endorse, indemnify, approve, nor disapprove of any security.
Fund Advisor: Collins Capital Investments, LLC
Minimum Investment: $2,500
Additional Investment: $100
Liquidity: Daily
Contributions: Daily
Lock Up: None
Inception Date: February 27, 2015
Gross Expense Ratio: 5.65%
Net, Including Investment-Related: 1.84%
Net, Excluding Investment-Related: 1.70%
Expense Cap: 1.70%
Maximum Sales Charge: 5.00%
12b1 Fee: 0.25%
  The Advisor has contractually agreed to waive certain fees through February 27, 2018.
  Where indicated, the Net Expense Ratio includes/excludes investment-related expenses such as dividend, interest expense on short positions as well as acquired fund fees and expenses and a fee recoupment.