Absolute Funds Absolute Advisers Contact ABSOLUTE Funds Absolute Convertible Arbitrage Fund [ARBIX] Fund Overview Sub Advisor Fund Literature Portfolio Commentary Fund Distributions Investing in the Fund The Absolute Convertible Arbitrage Fund – ARBIX, ARBOX The Absolute Convertible Arbitrage Fund seeks to achieve positive absolute returns over the long-term with low volatility when compared to traditional market indices. To achieve this, the Fund takes advantage of the relationship between a company’s convertible bonds and its common stock in order to pursue value across credit, income and volatility factors. The Fund is designed to complement either the alternatives or fixed income sleeve of a diversified portfolio and may be attractive to investors seeking moderate return with relatively low volatility. In August 2017, the Absolute Convertible Arbitrage Fund was converted from a hedge fund managed by Mohican Financial Management since 2002 to the current mutual fund. In September 2021 Mohican was acquired by Absolute Investment Advisers LLC. ARBIX: Institutional Share Class ARBOX: Investor Share Class, No transaction fee (NTF) (See the prospectus for details and fee information) Best Fund, Alternative Equity Market Neutral Funds, over 3 Years REFINITIV LIPPER FUND AWARDS: Ranked #1 of 19 funds for the 3-year award period in the Alternative Equity Market Neutral Funds Classification for the United States, 2021 (as of March 11, 2021) The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Refinitiv Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Refinitiv Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. For more information, see www.lipperfundawards.com. Although Refinitiv makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv. © 2021 Refinitiv. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited). Best Convertible Arbitrage Fund, 2018 Hedgeweek USA HEDGEWEEK USA AWARD: Nominated by institutional and high net worth investors as well as managers and other industry professionals at fund administrators, prime brokers, custodians and advisers – as ‘best in class’ in a series of categories. The firms with the most votes are subject to a final review by Hedgeweek’s Senior Editorial team. * The Fund has not received this award since 2018 Portfolio Management The portfolio management team has its roots in Cooperstown, NY and is currently located in Wilton, CT. Brothers Eric and Dan Hage founded Mohican Financial Management in 2002 after working on the convertible bond desks at various Wall Street firms. Their experience encompasses all aspects of the convertibles market – research, sales, proprietary trading and fund management. In September 2021 Mohican was acquired by Absolute Investment Advisers LLC where they continue their singular focus on the Absolute Convertible Arbitrage Fund. Eric Hage - Absolute Investment Advisers LLC - 2021-Present - Managing Director & Portfolio Manager, Absolute Convertible Arbitrage Fund Daniel Hage - Absolute Investment Advisers LLC - 2021-Present - Managing Director & Portfolio Manager, Absolute Convertible Arbitrage Fund RIA Channel Portfolio Manager Q&A, November 2021 Dakota Portfolio Manager Interview, March 2021 10 minute Q&A with Eric Hage, Portfolio Manager of the Absolute Convertible Arbitrage Fund (FULL SCREEN) 33 Minute discussion with Eric Hage, Portfolio Manager of the Absolute Convertible Arbitrage Fund (FULL SCREEN) Fund Literature  Fact Sheet i Intro Presentation i Prospectus i Statement of Additional Information (SAI) Additional Resources: i Convertible Arbitrage & ARBIX Explained Convertible Arbitrage 101: Take-aways from convertible bonds, convertible arbitrage and ARBIX i Convertible Arbitrage: Where does it Fit? Explanation of how convertible arbitrage may fit in to fixed income or alternative portfolios. (data updated quarterly) i Core Strength of Convertible Arbitrage Explanation of the “return to fair value in a set time frame” benefit of convertible arbitrage (data updated quarterly) ~ ARBIX Monthly Returns Monthly Returns since 2002 (inception) are available for financial professionals upon request. Recent Posts:  Press Release: Nov 1, 2021 Apex supports Absolute Investment Advisers. Absolute Investment Advisers LLC , a long-term client of the Apex Group, announced the closing of its acquisition of Mohican Financial Management, LLC on September 1, 2021 (open full press release)  ARBIX Performance & Risk Data - Q321 Portfolio & Risk Statistics including: 3-Year rolling returns, performance in rising rate environments and comparable beta, volatility and draw-down data ~ Webinar: Convert Arb a Distinct Credit Strategy & Different Source of Return (email request – financial professional use only) This 50 minute presentation from May 2021 explains why convertible arbitrage is a credit strategy and why its’ bond characteristics may be attractive. Shareholder Reports Portfolio Commentary Portfolio Commentary for the Absolute Convertible Arbitrage Fund is provided on a regular basis and can be found below along with other “discussion” articles that are relevant to the Fund. Additional information can be found within the shareholder letters in the Annual and Semi-Annual Reports. If you are a financial adviser and would like to be added to our e-mail distribution list, use the form at the bottom of the page or contact us by email. Please note that this commentary provides a very detailed analysis of the Fund’s strategy. Some of this analysis may too technical for the average investor to fully understand. It is presented here for those who may have an interest in such a discussion and as always, we encourage investors to discuss questions with their financial adviser. 2021 2020 2019 2018 2017 Q321 Portfolio Commentary “…“..High yield credit spreads, interest rates and underlying realized equity volatility for small/mid cap stocks were all very close to unchanged over the 3Q 2021 which made profiting from market changes challenging. Returns for the quarter were mainly driven by holding/addingto higher conviction positions as convertibles gradually tightened from cheap to closer to fair value.” [read all] Q221 Commentary Q121 Commentary Fund Distribution Information The Fund distributes income semi-annually in June and December and distributes long and short-term capital gains in December. This page will be updated with distribution amounts when the data becomes available. If you are a financial adviser and would like to be added to our e-mail distribution list contact us by e-mail. 2021 Distributions December – Income & Capital Gains Distributions per share. (Please note, these are only estimates. Final distribution amounts will be posted when available) Class Income Long-Term Capital Gains Short-Term Capital Gains ARBIX TBD $0.35232 (est) $0.00552 (est) Ex Date 12/14/21 12/14/21 Record Date 12/13/21 12/13/21 . June – Income Distributions per share. Class Income ARBIX $0.00 Ex Date 6/30/21 Record Date 6/29/21 2020 Distributions 2019 Distributions 2018 Distributions 2017 Distributions We invite you to spend some time on our web site to learn about us and our funds. If there is something you need that you cannot find, please let us know. Subscribe If you are a financial professional and would like to receive information on an on-going basis, please fill out this form to join our mailing list. SUBMIT This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Funds Absolute Convertible Arbitrage Fund – ARBIX Absolute Capital Opportunities Fund – CAPOX Absolute Strategies Fund – ASFIX Absolute Core Strategy ETF – ABEQ Links Resource Center Absolute Funds Absolute Advisers Contact 4 North Street Hingham, Ma. 02043 781.740.1904 For questions about our funds, email us at: info@absoluteadvisers.com For manager inquires, email us at: research@absoluteadvisers.com Absolute Advisers. © 2021 This website is not a solicitation for the Absolute Fund outside of the United States. For more complete information about the Funds, including investment objectives, risks, fees and expenses, download a Prospectus and read it carefully before you invest. Additional Fund information can be found throughout this site. Foreside Fund Services, LLC, distributor. (www.foreside.com). *Alpha is the excess return on an investment after adjusting for market-related volatility. It is often considered to represent the value that a portfolio manager adds to or subtracts from a fund’s return. Before investing you should carefully consider each Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus and summary prospectus, a copy of which may be obtained by calling 888-99-ABSOLUTE or by visiting each Fund’s Literature tab on this website. Please read the prospectus carefully before investing.