as of 12/11/2017
TickerNAV$ Change
OTTRX$11.44$-0.04
OTCRX$11.34$-0.04

PORTFOLIO CONSTRUCTION

Target Position Level Parameters

PARAMETER LONGS SHORTS
Typical Number of Positions 30 to 35 30 to 35
Typical Size 2% to 5% 1% to 3%
Maximum Size (at cost) 5% 5%
Typical Holding Period 2-3 years 6-24 months

Target Portfolio Level Parameters

PARAMETER TYPICAL RANGE OR LIMIT
Typical Gross Exposure 125% to 175%
Typical Net Exposure -10% to 50%
Geographic Exposure U.S. listed including ADRs
Net Sector Exposure 25% maximum
Market Cap Range There are no cap restrictions

*Please note that these are target position levels and are not intended to be actual limits to trading.