Fund Information

Income Distributions: Quarterly

Capital Gains Distributions: Annual

Fund Assets: $49.2 Million as of 3/31/2019


Matisse Discounted Closed-End Fund Strategy Institutional CL

  • NASDAQ Symbol: MDCEX
  • CUSIP Number: 85520V434
  • Load Type: No Sales Load
  • Inception Date: 10/31/2012
  • Minimum Initial Investment: $1,000
  • Minimum IRA Initial Investment: $1,000
  • Redemption Fee: None
  • Advisor Management Fee: 0.99%*
  • Total Annual Fund Operating Expenses: 2.69%**

*The Advisor receives a monthly management fee equal to an annual rate of 0.99% of the Fund’s net assets. The Advisor has entered into an Expense Limitation Agreement with the Trust, pursuant to which the Advisor has agreed to waive or limit its fees and to assume other expenses so that the total annual operating expenses of the Fund (exclusive of acquired fund fees and expenses, interest, taxes, brokerage fees and commissions, and extraordinary expenses) is limited to 1.25%. The Expense Limitation Agreement runs through July 31, 2019 and may be terminated by the Board at any time.

**The Total Annual Fund Operating Expense for the Fund as disclosed in the prospectus dated August 1, 2018 is required to include expenses incurred indirectly by the Fund through its investments in closed-end funds and other investment companies.

The Net Expense Ratio for the Fund as disclosed in the annual report is 1.25% dated March 31, 2018 and only includes the direct expenses paid by shareholders from their investment.

The Advisor has entered into an Expense Limitation Agreement with the Fund under which it has agreed to waive or reduce its fees in an amount that limits the Fund’s annual operating expenses (exclusive of acquired fund fees and expenses, interest, taxes, brokerage fees and commissions, and extraordinary expenses) to not more than 1.25% of the average daily net assets of the Fund through July 31, 2019. The Expense Limitation Agreement may be terminated by the Board at any time. The Advisor cannot recoup from the Fund any amounts paid by the Advisor under the Expense Limitation Agreement. Further, net annual operating expenses for the Fund may exceed those contemplated by the waiver due to acquired fund fees and other expenses that are not waived under the Expense Limitation Agreement.