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First Trust Capital Management L.P. is the Investment Manager for this fund. For more information visit www.firsttrustcapital.com.
Investment Objective/Strategy -
The Fund seeks long-term capital appreciation by strategic allocations to a selected group of hedge funds that employ a
variety of alternative investment strategies.
There can be no assurance that the Fund's investment objectives will be achieved. The Fund may not be appropriate for all investors.
Ticker |
HFLEX |
Fund Type |
Closed-End Interval Fund |
Share Class |
Class I |
Inception Date |
7/1/2023 |
Predecessor Fund Inception Date |
7/1/2017 |
Minimum Investment |
$25,000 |
Gross Expense Ratio* |
6.93% |
Net Expense Ratio* |
6.85% |
*As of 3/31/2024 |
The Investment Adviser has agreed to waive fees that it would otherwise have been paid, and/or to assume expenses of the Fund (a "Waiver"), in the amount necessary to ensure that
Total Annual Expenses of the Fund (excluding any taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-2), expenses incurred
in connection with any merger or reorganization, and extraordinary expenses, such as litigation expenses) do not exceed 1.70% of the average daily net assets of Class I Shares for an initial term ending 7/1/2024.
• Daily, Continuous Offering |
• Quarterly Redemptions (5% of Outstanding Shares)* |
• 1099 (Consolidated at Custodian) |
• Accredited Investors Only |
• Paperwork Not Required |
*Subject to limitations. A limited number of shares are eligible for quarterly repurchase. Each quarter, the Fund will offer to repurchase between 5% and 25% of its outstanding shares at net asset value. An
investment in the Fund should be considered illiquid.
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Percent |
Arbitrage/Relative Value |
7.30% |
Credit |
27.10% |
Event Driven |
13.00% |
Long/Short Equity |
30.20% |
Multi-Strategy |
22.40% |
Holdings are subject to change. The weights are intended as guidelines and may vary based
on market conditions and other factors. Portfolio allocations should not be relied upon as
an indicator of future results or used as the basis for investment decisions.
HFRI Fund Weighted Composite Index - The Index is a global, equal-weighted
index of single-manager funds that report to HFR Database. Constituent funds
report monthly net of all fees performance in US Dollar and have a minimum
of $50 Million under management or $10 Million under management and a
twelve (12) month track record of active performance. The HFRI Fund Weighted
Composite Index does not include Funds of Hedge Funds.
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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