Easterly Asset Management (“Easterly”), home to investment teams providing investors with a portfolio of solutions across alternatives, active equity, and active fixed income, today recognized the tenth anniversary of the Easterly Hedged Equity Fund (Class I) (the “Fund”), celebrating a decade of consistent performance and disciplined risk management.

The Easterly Hedged Equity Fund, recognized with a 5-Star Overall Morningstar Rating™ as of July 31, 2025, is a low volatility equity strategy that employs a dynamic hedging approach with the primary objective of capital appreciation. By combining a highly liquid long equity portfolio with a risk-aware options overlay, the Fund seeks to participate in equity market upside while mitigating downside risk. With its highly active approach to trading, the fund is designed to address the often-overlooked risks of elevated volatility and rising market correlations, aiming to help generate positive carry across all market environments.

“The Hedged Equity Fund’s 10-year track record reflects the investment team’s discipline, resilience, and commitment to helping clients navigate evolving markets,” said Darrell Crate, Founder and Managing Principal of Easterly Asset Management. “Demand continues to grow for solutions that manage risk without sacrificing the potential to opportunistically capture upside and benefit from volatility. We are proud of the confidence investors have placed in this strategy and believe it remains well-positioned to continue to deliver value for investors in any market environment.”

The Easterly Hedged Equity Fund (Class I) earned 5 stars overall (out of 134 funds), 5 stars for its 3-year (out of 134 funds), 5 stars for its 5-year (out of 101 funds), and 4 stars for its 10-year (out of 57 funds) in Morningstar’s Equity Hedged category based on risk-adjusted returns as of the period ending July 31, 2025.

Easterly Hedged Equity Fund (Class I)

Morningstar Rating as of July 31, 2025

Category: Equity Hedged

Rating Information:

Inception date Class I: 07/31/2015

“This 10-year milestone, along with the Morningstar rating, helps to reinforce the Fund’s role as a reliable, risk-sensitive solution for our clients,” said Jim Ryan, Founding Partner and President of Easterly EAB. “As markets remain dynamic, our focus has not wavered from delivering consistent performance and helping investors navigate uncertainty with confidence.”

ABOUT EASTERLY

Easterly Asset Management and its Strategic Partners provide private wealth and institutional investors with a portfolio of solutions across alternatives, active equity and active fixed income. Founded in 2019, Easterly’s goal is to bring curated solutions to clients that make their portfolios better by partnering with trusted investment teams who have an established track record of delivering value to investors. Easterly enables high-performing managers to operate at scale by delivering best-in-class resources, risk management, operational support, infrastructure, and an institutional and wealth distribution team. As of December 31, 2024, Easterly and its Strategic Partners manage $60B of client assets. For more information, visit easterlyam.com.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other important information about the Fund is contained in the prospectus which should be read carefully before investing, and can be obtained by visiting funds.easterlyam.com or by calling 888-814-8180.

Easterly Investment Partners LLC is the investment adviser to the Easterly mutual funds. EAB Investment Group, LLC is the subadvisor for the fund. Both Easterly and EAB are SEC registered investment advisers; see Form ADV at www.sec.gov. Registration does not imply and should not be interpreted to imply any particular level of skill or expertise. The Easterly funds are distributed by Easterly Securities LLC, member FINRA/SIPC. Easterly Investment Partners is an affiliate of Easterly Securities LLC. Orange Investment Advisers, LLC and EAB Investment Group, LLC are not affiliated with Easterly Securities LLC.

Not FDIC Insured–No Bank Guarantee–May Lose Value

© 2025 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

The Morningstar Rating™ for funds or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics.

Morningstar Rating is for the I share class only; other classes may have different performance characteristics.

IMPORTANT FUND RISK

There is no assurance that the Fund will achieve its investment objective. The Fund share price will fluctuate with changes in the market value of its Fund investments. Mutual Funds involve risk including possible loss of principal. Leveraging investments, by purchasing securities with borrowed money, is a speculative technique that increases investment risk while increasing investment opportunity. Derivatives may be volatile and some derivatives have the potential for loss that is greater than the Fund’s initial investment. If the Fund sells a put option, there is risk that the Fund may be required to buy the underlying investment at a disadvantageous price. If the Fund sells a call option, there is risk that the Fund may be required to sell the underlying investment at a disadvantageous price. Shares of ETF share many of the same risks as direct investments in common stocks or bonds. Because a large percentage of the Fund’s assets may be invested in a limited number of issuers, a change in the value of one or a few issuers’ securities will affect the value of the Fund more than would occur in a diversified fund.

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