Risk-Managed Equities

Equity participation with a tactical approach to crisis risk

Designed to stay invested—and respond when risk changes

TCM Risk-Managed Equities strategies seek to participate in equity-market growth while responding tactically when volatility signals indicate greater crisis risk.

Rather than maintaining costly defensive exposure in every market environment, the strategies generally emphasize equity participation during calmer periods. When conditions deteriorate, they may add long volatility exposure through VIX-linked instruments seeking to reduce the impact of severe market declines.

We believe this risk-responsive approach may offer a more balanced tradeoff between upside participation, downside mitigation, and the ongoing cost of protection than static hedging.

Available on S&P 500®, NASDAQ 100®, MSCI® Emerging Markets indexes or a custom portfolio.

seeking A BETTER Hedged Equity Tradeoff

Growth of $1000 Since Inception

Tactical Beta net of 1% fee. "Hedged Equity Peers" is an equally-weighted composite of JP Morgan Hedged Equity (JHEQX), Swan Defined Risk (SDRIX) and Gateway Fund A (GATEX), rebalanced monthly

TCM Risk-Managed Equities returns are available on the Morningstar Direct database