CARK

CARK provides exposure to the large-cap spectrum of the global fixed income space with emphasis on growth firms. It begins its selection process by identifying its investable universe of 1,000 companies based on market-cap and quantitative evaluations such as including a company's margins, return on assets, return on equity, return on invested capital and free cash flow generation. Large-cap companies are defined as those with a market-cap of more than $10 billion. A bottom-up fundamental analysis is then utilized, which involves analyzation of the companies' industry dynamics, competition, customer base, and supply chain, to screen for growth companies and also identify potential risks. A portfolio of approximately 20-40 issuers is constructed based on each company's potential free cash flow and earnings growth in the top 20% of the investable universe. Since the fund is actively managed, investment decisions are at the discretion of the adviser including purchasing and selling securities.