Vision Funds Comparison (As of August 31, 2015)
The Vision Funds have received considerable industry recognition for their leading risk-adjusted total return performance. Please click here for more details.
Notes: (1): Net Asset Value and Return on Investment data are as provided by Vision Opportunity Funds’ independent administrator, SGGG Fund Services Inc., and are net of fees and expenses. (2): The Standard deviation and Sharpe ratio are provided by SGGG Fund Services Inc. The Sharpe ratio measures the return in excess of the risk-free rate relative to the volatility of the return. The higher the fund’s Sharpe ratio, the better returns the fund has yielded in relation to its risk. (3): The Sortino ratio is a variation of the Sharpe ratio which differentiates harmful volatility from volatility in general by replacing standard deviation with downside deviation in the denominator. Thus the Sortino Ratio is calculated by subtracting the risk free rate from the return of the portfolio and then dividing by the downside deviation. The downside deviation is defined as the volatility of returns below the risk free rate. The Sortino ratio measures the return to “bad” volatility or a measurement of return per unit of risk on the downside. This ratio allows investors to assess risk in a better manner than simply looking at excess returns to total volatility, since such a measure does not consider how often the price of the security rises as opposed to how often it falls. A large Sortino Ratio indicates a low risk of large losses occurring. (4): Up-Market and Down-Market Capture Ratios are statistical measures of an investment manager’s overall performance in up and down markets. The up or down market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen or fallen. A negative down market capture ratio indicates that the fund increased on average during the months when the index decreased (Data compares to the S&P/TSX Composite Total Return Index). (5): All performance and risk metric references to the Vision Opportunity Fund LP herein refer to Series 1 of the Class A Units of the Vision Opportunity Fund LP. The inception of the Vision Opportunity Fund Limited Partnership was July 2, 2008. On February 28th, 2013, unitholders approved the extension of the Fund and the creation of two classes of Units: Class A and Class B units. On May 23rd, 2014, the Class A units outstanding at that time were renamed Class Z units. Other than short term variations in performance, as a result of series accounting for units issued within the calendar year there are no material differences in performance in Class A and Class Z units. (6): All performance and risk metric references to the Vision Opportunity Fund Trust herein refer to Series 1 of the Class A Units of the Vision Opportunity Fund Trust. (7): Canadian RRSPs / RRIFs / TFSAs / LIRAs / RESPs (8): The Vision Opportunity Funds are only available by way of offering memorandum to accredited investors. (9): Past performance is not necessarily indicative of future performance.