Investment Objective
The Envoy Fund will seek long-term capital appreciation.
Investment Approach
The fund will invest in futures contracts that provide exposure to the S&P 500, gold, the U.S. dollar and long-dated U.S. Treasuries. The fund will also maintain a constant exposure to US T-Bills.
The proportion that will be allocated to each asset class is guided by a momentum strategy. Essentially, the fund will seek to invest in assets that are increasing in value and either avoid or sell assets that are decreasing in value. The intent is to achieve an overall portfolio that is resilient across a wide range of market conditions. The fund will take long positions only and, accordingly, it may have limited or no exposure to one or more of the asset classes at any given time.
There will be periods when the assets in the fund’s portfolio are subject to a decline in market prices. Momentum strategies can perform poorly and produce significant losses in markets that lack a sustained trend or that reverse direction sharply. For a more complete discussion of the risks associated with investing in the fund, please refer to the fund’s prospectus, which you can find in the fund literature tab.
| Ticker Symbol | EVFIX |
|---|---|
| CUSIP | 46152N587 |
| Target Inception Date | December 31, 2026 |
| Investment Advisor | Embassy Asset Management LP |
| Structure | Open-end mutual fund (1940 Act) |
| Minimum Initial Investment | None |
| Minimum Subsequent Investment | None |
| Gross Expense Ratio | 1.30% |
| Net Expense Ratio | 0.80% |
| Net Assets | N/A |
Portfolio Manager
Rick Campagna is the Portfolio Manager of the Diplomat Fund. He has 35 years of capital markets and asset management experience, including investment banking at Morgan Stanley (London, Tokyo, NY), CIO / CEO of an institutional asset manager, and portfolio manager and principal of a Commodity Pool Operator. Mr. Campagna has managed a variety of quantitative equities and global macro strategies. He has a B.Sc. in Biology from Duke University, an MBA from Harvard University and he is a CFA charterholder.
Figures shown are for the Institutional Class (EVFIX). The Fund also offers Class S (EVFSX), which bears a Rule 12b-1 distribution and service fee of 0.25% of average daily net assets; Class S gross expense ratio is 1.55% and its net expense ratio is 1.05%. Expense ratios are as stated in the Fund’s prospectus dated 09/23/26. The Advisor has contractually agreed to waive fees and reimburse expenses so that operating expenses, excluding the Class S 12b-1 fee, certain other fund fees and interest expense, do not exceed 0.80% of average daily net assets through [ ], 2027, terminable before then only by the Board of Trustees. The minimum initial investment is calculated across all accounts held with Embassy and may be waived; intermediaries may impose their own minimums and fees.
INFORMATION CONTAINED HEREIN IS SUBJECT TO COMPLETION OR AMENDMENT. A REGISTRATION STATEMENT RELATING TO THESE SECURITIES HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION BUT HAS NOT YET BECOME EFFECTIVE. THESE SECURITIES MAY NOT BE SOLD NOR MAY OFFERS TO BUY BE ACCEPTED PRIOR TO THE TIME THE REGISTRATION STATEMENT BECOMES EFFECTIVE. THIS COMMUNICATION SHALL NOT CONSTITUTE AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER SECURITIES LAWS OF ANY SUCH STATE.
AN INDICATION OF INTEREST IN RESPONSE TO THIS ADVERTISEMENT WILL INVOLVE NO OBLIGATION OR COMMITMENT OF ANY KIND.
Prior employers are named for biographical purposes only. Named firms are not affiliated with Embassy and have not endorsed the Fund.