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Wednesday, April 26, 2023

Sierra Debuts Its 7th Fund

Reported by Neil Anderson, Managing Editor

The team at a $9-billion-AUMA, 36-year-old group of companies is rolling out their seventh mutual fund.

Albert George "Skip" Schweiss III
Sierra Group of Companies
Earlier this month, James St. Aubin, chief investment officer for the Sierra Group of Companies' Sierra Mutual Funds [profile], unveiled the launch of the Sierra Tactical Risk Spectrum 70 Fund. The new fund's inception date was March 31.

Like with Sierra's other mutual funds, the new fund is advised by Sierra's own Wright Fund Management, LLC and is a series of the Northern Lights Fund Trust. The launch also completes the Sierra Tactical Risk Spectrum Series. The new fund is designed to target an average exposure (over three years) of between 50 and 70 percent, while the other funds in the series target lower equity exposures.

"The Fund allows for up to 70% equity exposure during uptrends to increase upside capture, while utilizing a trailing-stop discipline when any holding enters a downtrend, limiting risk," St. Aubin states. "The result is a uniquely flexible fund that provides a greater range of equity exposure, while adhering to the type of risk management for which Sierra Mutual Funds is known."

The new fund comes in four flavors: A shares (SRSBX) with up to 375 basis points in upfront load, up to 100 bps in deferred load, and an expense ratio of 199 basis points; C shares (SRSKX) with an expense ratio of 274 bps; Investor shares (SRSNX) with an expense ratio of 214 bps; and Institutional shares (SRSJX) with an expense ratio of 174 bps. All four share classes' expense ratios bake in an eight-bps fee waiver, promised through January 31, 2025.

The Sierra Tactical Risk Spectrum 70 Fund's PM team includes: Ryan Harder, chief investment strategist; Douglas Loeffler, executive vice president; Marshall Quan, lead portfolio analyst; and Kenneth Sleeper, managing director.

The new fund's other service providers include: BBD, LLP as independent accounting firm; Northern Lights Distributors, LLC as distributor; Thompson Hine LLP as counsel; U.S. Bank, N.A. as custodian; and Ultimus Fund Solutions, LLC as transfer agent. 

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