Important Disclosure Information
Chesapeake Capital Corporation (“Chesapeake”) is an SEC registered investment adviser. information on this website is intended exclusively for use by person and entities that are “qualified eligible persons” as that term is defined by CFC Regulation 4.7 and that are “qualified clients” as that term is defined in SEC Rule 205-3(d)(1) under the Investment Adviser Act. Chesapeake’s website is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of Chesapeake’s website on the Internet should not be construed by any one as Chesapeake’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet For information pertaining to the registration status of Chesapeake and its Form ADV, please see here Investment Advisor Firm Summary.
Past performance is not necessarily indicative of future results, and all investment is subject to loss. Chesapeake seeks to achieve capital appreciation for its clients primarily through trading financial instruments, including commodity futures and options, spot and forward currencies and other derivatives, as well as securities, virtual currencies and related derivatives. Such trading is speculative, involves a high degree of risk and may not be suitable to all investors. Please carefully review the disclosure documents for Chesapeake’s associated investment programs for a full description of all risk associated with investment.
Before investing you should carefully consider the Fund's investment objectives, risks, and charges and expenses. This and other information is in the prospectus. Please read the prospectus carefully before you invest.
Credit Risk: Credit risk refers to the possibility that the issuer of a security will not be able to make principal and interest payments when due.
Derivatives Risk: Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, commodities, currencies, funds (including ETFs), interest rates, or indexes.
Fixed Income Risk: The prices of fixed income securities respond to economic developments, particularly interest rate changes, as well as to changes in an issuer’s credit rating or market perceptions about the creditworthiness of an issuer.
Foreign Securities Risk: The fund may invest in foreign securities. Such investments involve certain risks not involved in domestic investments and may experience more rapid and extreme changes in value than investments in securities of U.S. companies.
High Portfolio Turnover Risk. The fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the fund’s expenses.
High Yield Securities (Junk Bonds) Risk: High-yield bonds are considered speculative investments and are issued by entities that may be undergoing restructuring, are smaller or less creditworthy, or are more heavily indebted than other issuers.
Interest Rate Risk: Interest rate risk is the risk that prices of fixed income securities generally increase when interest rates decline and decrease when interest rates increase.
Leverage Risk: The derivative instruments in which the fund may invest provide the economic effect of financial leverage by creating additional investment exposure to the underlying instrument, as well as the potential for greater loss. If the fund uses leverage through purchasing derivative instruments, the fund has the risk that losses may exceed the net assets of the fund.
New Fund Risk: The fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a trackrecord or history on which to base their investment decisions.
Non-Diversification Risk: Because the fund is "non-diversified," it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.
Distributed by Foreside Fund Services, LLC.
Alpha: A risk-adjusted measure of a portfolio's annual return in excess of the market return. It is a measure of a portfolio manager's contribution to performance due to security selection. A positive alpha indicates the portfolio outperformed the market on a risk-adjusted basis, and a negative alpha indicates the portfolio performed worse than the market.
Beta: A measure of the sensitivity of a portfolio's rates of return against those of the market. A beta less than 1 indicates volatility less than that of the market.
Standard Deviation: A measure of volatility of returns. It is calculated by determining the square root of the average squared deviation of the returns from the mean value of the return.
Maximum Drawdown: The peak-to-trough decline during a specific record period of an investment, fund, or commodity. A drawdown is usually quoted as the percentage between the peak and the trough.
Sharpe Ratio: Measures the relationship of reward to risk in an investment strategy. It is calculated by subtracting the risk-free return from a portfolio’s average return, then dividing the result by the standard deviation of the portfolio’s return.
Sortino Ratio: A variation of the Sharpe ratio that differentiates harmful volatility from total overall volatility by using the asset's standard deviation of negative portfolio returns — downside deviation — instead of the total standard deviation of portfolio returns. The Sortino ratio takes an asset or portfolio's return and subtracts the risk-free rate, and then divides that amount by the asset's downside deviation.
Information Ratio: Measures the consistency with which a manager beats a benchmark. It is calculated by dividing the annualized excess return of the managed portfolio by the annualized standard deviation of the excess return.