The Changebridge Capital Long/Short Equity Strategy is a U.S. small-cap focused, liquid alternative strategy that takes both a quantitative and fundamental approach to security selection, identifying both long and short investments that are expected to outperform and underperform, respectively.
OBJECTIVE
The Changebridge Capital Long/Short Equity Strategy (the "Strategy") seeks to generate positive alpha via both the long and short portfolios over the course of an entire investment cycle. The Strategy has the potential to enhance an investors return profile while reducing risk.
INVESTMENT STRATEGY
The Strategy is a U.S. focused, liquid alternative strategy that takes both a quantitative and fundamental approach to security selection, identifying both long and short investments that are expected to outperform and underperform, respectively. The Strategy is centered around the belief that within the broad market, ample opportunities for mispricing exist, especially among smaller cap companies. The Strategy targets long positions trading at a discount to current and future cash flows, that generate returns on invested capital in excess of their cost of capital. We look for short positions that erode shareholder value over time.
The Changebridge strategy is designed to identify both long and short investments that are likely to outperform and underperform, respectively.
Each position is expected to generate positive risk-adjusted alpha by its own merit.
The goal of a hedged portfolio is to generate positive returns through the investment cycle and protect capital when negative macro shocks occur.
Quant + Fundamental
Idea generation begins with internally designed screening tools and a multivariate factor-based coding system. Our quant system is designed to actively identify inefficiencies - opportunities for fundamental analysts to add meaningful value. Quant elements are intended to reduce the impact of behavioral bias in our portfolio.
Short Diligence
Extensive background identifying and executing short opportunities in equity markets. Shorts are generally required to have a near term catalyst to drive shares lower.
Active Alpha
Because the only method of outperforming an index is to be different from it, the strategy focuses on a portfolio of generally small and mid cap securities. The strategy selects equity securities that it believes are misunderstood and/or overlooked by the market.
Sustainable Investing
Investing according to environmental, social, and governance (ESG) criteria doesn’t need to occur at the expense of returns. We believe that a company’s understanding of ESG principles demonstrates the qualities of innovation and leadership that create a distinct competitive advantage and build long term value.
Changebridge Capital, LLC (“Changebridge” ) is an SEC-registered investment adviser with its principal place of business in Boston, Massachusetts.
This website is for informational purposes and is not intended to be, nor should it be construed or used as an offer to purchase, sell, recommend, acquire or dispose of any security, commodity, investment or to engage in any other transaction. Additionally, the information herein is not intended to provide, and should not be relied upon for tax advice, legal advice or investment recommendations. Nothing on this website should be construed as constituting advice or recommendations as to the suitability of any particular investments, securities, products or services.
You should make an independent investigation of the matters described herein, including consulting your own advisor(s) on the matters discussed herein. In addition, certain information on this website has been obtained from published and non-published sources prepared by other parties, which in certain cases may have not been updated through the date hereof. While such information is believed to be reliable for the purpose used in this website, such information has not been independently verified by Changebridge Capital, LLC and Changebridge Capital, LLC does not assume any responsibility with respect to the accuracy and completeness of such information.
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180 Canal Street, Suite 600
Boston, MA 02114
An investment in the Fund is subject to investment risks, including the possible loss of some or the entire principal amount invested. There can be no assurance that the Fund will be successful in meeting its investment objective. Investment in the Fund is also subject to the following risks: Equity Securities Risk, Short Selling Risk, Value Risk, Sector Risk, ESG Investment Strategy Risk, Small and Mid-Cap Securities Risk, Illiquid investments Risk, ADR Risk, Large Capitalization Risk, COVID-19 Risk, Risk of Investing in the U.S., Preferred Securities risk, Quantitative Model Risk, Authorized Participant Risk, ETF Structure Risks, Early Close/Trading Halt Risk, Asset Class Risk, Cyber Security Risk, Management Risk, Market Risk, New Advisor Risk, New Fund Risk, and Non-Diversification Risk. While the shares of the Fund are tradable on secondary markets, they may not trade in all market conditions and may trade at significant discounts in periods of market stress. ETFs trade like stocks, are subject to investment risks, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns. More information about these risks can be found in the Fund’s prospectus.
An investor should consider the investment objectives, risks, and charges and expenses of the Fund before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available at www.changebridgecapital.com or by calling Shareholder Services at 800-773-3863. The prospectus should be read carefully before investing. Current and future holdings are subject to change and risk.
Changebridge Capital, LLC is distributed by Capital Investment Group, Inc., Member FINRA/SIPC, 100 E. Six Forks Road, Suite 200, Raleigh, North Carolina 27609. There is no affiliation between Changebridge Capital, LLC, including their principals, and Capital Investment Group, Inc.
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