Nasdaq - Delayed Quote USD

VELA Large Cap Plus I (VELIX)

16.60 +0.17 (+1.03%)
At close: May 31 at 8:00 PM EDT

Fund Summary

The fund, under normal market conditions, invests at least 80% of its net assets in long and short positions in U.S. equity securities with large market capitalizations. Equity securities consist of common and preferred stocks. Under normal market conditions, the adviser intends to maintain its net exposure in the range of 80% - 100% (long market value minus short market value). However, the long and short positions held by the fund will vary in size as market opportunities change.

VELA Large Cap Plus I

SUITE 208
220 MARKET STREET
614-653-2178

Fund Overview

Category Large Blend
Fund Family VELA Funds
Net Assets 64.52M
YTD Return 4.52%
Yield 0.04%
Morningstar Rating
Inception Date Sep 30, 2020

Fund Operations

Last Dividend 0.01
Last Cap Gain 9.00
Holdings Turnover 44.00%
Average for Category --

Fees & Expenses

Expense VELIX Category Average
Annual Report Expense Ratio (net) 1.38% 0.78%
Prospectus Net Expense Ratio 1.38% --
Prospectus Gross Expense Ratio 1.38% --
Max 12b1 Fee -- --
Max Front End Sales Load -- --
Max Deferred Sales Load -- --
3 Yr Expense Projection 0 --
5 Yr Expense Projection 0 --
10 Yr Expense Projection 0 --

Management Information

Ric H. Dillon, Lead Manager since September 30, 2020
Mr. Dillon is one of the founders of VELA Investment Management, LLC and has served as CEO, CIO & Co-Portfolio Manager of the firm since November 2019. Early in his career, Mr. Dillon was a Portfolio Manager at Loomis, Sayles & Company. In the 1990s, Mr. Dillon founded Dillon Capital Management, where he served as President and Chief Investment Officer until the company was acquired by Loomis, Sayles & Company, where he returned to work as a Portfolio Manager until 2000. In May 2000, Mr. Dillon founded Diamond Hill Capital Management, where he served as CEO and Portfolio Manager on their Small Cap and Long-Short Strategies. Mr. Dillon retired from Diamond Hill Capital Management in 2018. Mr. Dillon holds the Chartered Financial Analyst (CFA) designation. He received an MBA from the University of Dayton, as well as a M.A. in Finance and a B.S. in Business Administration from The Ohio State University.

Morningstar Style Box

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Morningstar Category

While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk, and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. When necessary, we may change a category assignment based on recent changes to the portfolio.

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