Panoramic Mutual Funds

NEWS

January 1, 2024 – JP Morgan Investment Management Brings Evidence-Based Fixed-Income Investing to Two Symmetry Panoramic Fixed Income Funds

Effective December 29, 2023, JP Morgan Investment Management (JPMIM) became the sole sub-advisor to two Symmetry Panoramic fixed-income funds.

The two funds have been renamed to reflect the unique systematic nature of JP Morgan’s fixed-income investment process. Specifically:

  • SPUBX, formerly the Symmetry Panoramic US Fixed Income Fund, has been renamed the Symmetry Panoramic Systematic US Fixed Income Fund
  • SPGBX, formerly the Symmetry Panoramic Global Fixed Income Fund, has been renamed the Symmetry Panoramic Systematic Global Fixed Income Fund

Additionally, the benchmark of the U.S. fund has been changed to the Bloomberg US Aggregate Index, which is designed to measure the performance of the investment-grade fixed-income universe in the United States. The benchmark of the Global fund remains the Bloomberg Global. Aggregate USD Hedged Index.

JPMIM’s Global Fixed Income, Commodities, and Currency Group is managing both funds for Symmetry.

Highlights of Systematic US Fixed Income Fund (SPUBX)

Broad Exposure: Provides broad exposure to the U.S. investment-grade universe as represented by the Bloomberg US Aggregate Index.

Multi-Factor Corporates: May overweight attractively valued corporate fixed-income securities with positive momentum characteristics and of companies with stable business operations and practices.

BB High Yield: May invest in short-maturity, high-yield, fixed-income securities rated BB
(or the unrated equivalent) at the time of purchase.

Short-Maturity Anomaly: May implement a credit steepener strategy using cash bonds (i.e., overweighting shorter maturity bonds while simultaneously underweighting longer maturity bonds) and credit default swaps (i.e., selling protection and buying protection) to pursue potential opportunities.

Systematic Process: JPMIM determines the weight of each security using a combination of the liquidity of the security, JPMIM’s assessment of the attractiveness of the security based on the factors described above, or additional criteria that form part of JPMIM’s systematic security selection process. JPMIM utilizes portfolio optimization techniques, which incorporate anticipated transaction costs and turnover to determine portfolio composition and trading activity.

Highlights of Systematic Global Fixed Income Fund (SPGBX)

Broad Exposure: Provides broad exposure to the global investment-grade universe as represented by the Bloomberg Global Aggregate USD Hedged Index.

Multi-Factor Corporates: May overweight attractively valued corporate fixed-income securities with positive momentum characteristics and of companies with stable business operations and practices.

BB High Yield: May invest in short-maturity, high-yield, fixed-income securities rated BB (or the unrated equivalent) at the time of purchase.

Short-Maturity Anomaly: May implement a credit steepener strategy using cash bonds (i.e., overweighting shorter maturity bonds while simultaneously underweighting longer maturity bonds) and credit default swaps (i.e., selling protection and buying protection) to pursue potential opportunities.

Global Rates Strategy: May employ a long-short global rates overlay that employs a combined signal of expected carry return and yields in excess of expected inflation.

Systematic Process: JPMIM determines the weight of each security using a combination of the liquidity of the security, JPMIM’s assessment of the attractiveness of the security based on the factors described above, or using additional criteria that form part of JPMIM’s systematic security selection process. JPMIM utilizes portfolio optimization techniques, which incorporate anticipated transaction costs and turnover, to determine portfolio composition and trading activity.

Important Disclosure

Symmetry Partners, LLC is an investment advisory firm registered with the Securities and Exchange Commission. The firm only transacts business in states where it is properly registered, or exempted or excluded from registration requirements. Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Symmetry provides this communication as a matter of general information.

Please note the funds are distributed by SEI Investment Distribution Company (SIDCO). SIDCO is not affiliated with Symmetry Partners, LLC or J.P. Morgan Investment Management.

There are risks involved in investing, including loss of principal. Asset allocation may not protect against market risk. Investment in the fund(s) is subject to the risks of the underlying funds. Diversification seeks to reduce volatility by spreading your investment dollars into various asset classes to add balance to your portfolio. Using this methodology, however, does not guarantee a profit or protection from loss in a declining market. Rebalancing assets can have tax consequences. If you sell assets in a taxable account you may have to pay tax on any gain resulting from the sale. Please consult your tax advisor.

CONSIDER THE FUNDS’ INVESTMENT OBJECTIVE, RISK, AND CHARGES AND EXPENSES. THIS AND OTHER INFORMATION CAN BE FOUND IN THE FUNDS’ PROSPECTUS AND SUMMARY PROSPECTUS WHICH CAN BE OBTAINED BY VISITING WWW.PANORAMICFUNDS.COM OR BY CALLING 1-844-SYM-FUND (844-796-3863). PLEASE READ THE PROSPECTUS CAREFULLY BEFORE INVESTING

Symmetry Partners, LLC is not affiliated with SIDCO or JP Morgan.

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