NAA Opportunity Institutional

Frequently Asked Questions About SAOIX

What does SAOIX invest in?

Under normal market conditions, the fund pursues its objective by investing in long and short positions of domestic equity and equity-related securities. The fund will ordinarily hold simultaneous long and short positions in equity securities or securities markets that provide exposure up to a level equal to 150% of the fund’s net assets for both the long and short positions.

What is the expense ratio of SAOIX?

NAA Opportunity Institutional (SAOIX) charges an expense ratio of 1.49%. This is the annual fee deducted from fund assets to cover management and operations.

How big is SAOIX?

NAA Opportunity Institutional (SAOIX) is one share class of a fund that manages $41.8M across all of its share classes (SAOAX, SAOCX report the same total). Our data does not carry the assets of this share class alone. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is SAOIX actively managed or an index fund?

SAOIX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (SAOIX's is 1.49%) in exchange for the discretion to over- or under-weight positions.

When was SAOIX launched?

NAA Opportunity Institutional (SAOIX) launched in November 2008 and is managed by the fund issuer.

How has SAOIX performed?

SAOIX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.