Long-term capital appreciation
The Magnus 60/40 Beta Plus Fund has a target allocation of 60% of capital to three CUIT funds invested in return-seeking asset classes and 40% of capital to three CUIT funds invested in risk-reducing asset classes. A full 45% of the target allocation of fund capital is to equity index funds. Among the actively managed funds, three of the four employ multiple managers as sub-advisers. CBIS allocates a separate strategic share of investment capital to each manager with the objective of improving the risk-adjusted returns for each of the CUIT funds and in turn, the Magnus 60/40 Beta Plus Fund.
|Fund Inception Date||July 2, 2018|
|Mimimum Investment||Class A: No minimum and Class B: $25 million|
|Expense Ratio||Class A: 0.54%; Class B: 0.37%|
CBIS has voluntarily agreed to waive its fees and/or reimburse expenses as necessary to prevent the total expense ratio of each of the Funds from exceeding the Total Expense Ratio (as defined in the footnote below) for each Fund, respectively. This information is presented in this manner, as compared to the CUIT Fund Series Offering Memorandum, because each Fund is a “fund-of-funds” with a single Total Expense Ratio (as defined in the footnote below). Each Fund, as a “fund-of-funds,” bears a proportionate share of the expenses incurred by the Underlying Funds in which it invests; this proportionate share is included in the Total Expense Ratio (as defined in the footnote below) disclosed above.
Total Expense Ratio, which is borne by the Funds and all the classes thereof, includes: the management fee paid to CBIS pursuant to the management contract between CUIT and CBIS; costs associated with the holding of Board meetings; expenses relating to the issuance, registration, and qualification of Shares of the Funds in the appropriate states (so-called blue sky registrations); fees and expenses of the custodian; auditing fees; fees and expenses of legal counsel; license fees paid to providers of investment indices; expenses related to transfer agency, shareholder servicing and fund accounting; broker’s commissions and issue and transfer taxes charged in connection with securities transactions of the Funds; the proportionate shares of the expenses incurred by the Underlying Funds in which the Funds invest; and fees associated with the benchmark indices and performance analytics software used to assess Fund performance.