The fund is a portfolio employing the long/short equity investment style, and was developed from The Providence Journal's "Impact 50:" a list of 50 publicly traded companies that have headquarters in, or whose operations have a significant financial impact on Rhode Island, southeastern Massachusetts, and Connecticut.
- The fund may take long or short positions in equity of any of the Impact 50 companies.
- The fund may buy and write equity options on any of the Impact 50 stocks.
- The fund may buy and write index futures for hedging purposes.
The basic strategy of the fund is to use fundamental analysis to determine long/short positions in each of the Impact 50 companies, to seek out high probability in-the-money option spreads for income enhancement, to employ index futures for systemic risk hedging, and to execute basic delta hedging with equity options on highly volatile positions, when necessary.
Keith Elflein - FEC VP & Fund Administrator
Dr. Gordon Dash - Fund Advisor
Initial Fund Value: $500,000.00
Final Fund Value: $592,393.54
2006 Portfolio Return: 12.37%
Jan'06 Contract Return: 154.30%
Apr'06 Contract Return: 21.54%
Fund Total Return: 18.48%
S&P-500 Return 7.44%
Annualized Total Return: 40.64%
College of Business Administration