The Leland Family of Funds Provides Performance Update on Currency Strategy

Aug 19, 2015, 09:00 ET from The Leland Family of Funds

CHICAGO, Aug. 19, 2015 /PRNewswire/ -- The Leland Family of Funds, a provider of innovative investment solutions that complement traditional portfolio allocations, has published a performance update on its Currency Strategy Fund (GHCAX, GHCCX, and GHCIX). Launched in May 2014, the fund is sub-advised by noted currency strategy manager FDO Partners.

Since inception (May 30, 2014), the Fund has generated net-of-fee performance of 17.75% (A share), 11.50% (load A share), 17.48% (C share), and 17.75% (I share) as of June 30, 2015. The MSCI EAFE Currency Index is -12.33% over the same time period.  For the first six months of 2015, through June, the Fund has generated net-of-fee performance of 7.47% (A share), 1.27% (load A share), 7.20% (C share), and 7.47% (I share).  Through Q2/2015 the MSCI EAFE Currency Index is -2.85%.

Fund Performance (As of June 30, 2015)




Since Inception (5/30/14)






GHCAX w/ load















The performance data quoted here represents past performance. For more current information, please call toll-free 877-270-2848 or visit our website, Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Past performance is no guarantee of future results. The maximum sales charge (load) for Class A is 5.75%. The Fund's investment adviser has contractually agreed to reduce its fees and/or absorb expenses until at least January 31, 2016, to ensure that net annual, operating expenses of the Class A, C and I Shares will not exceed 1.75%, 2.50%, and 1.50% respectively, subject to possible recoupment from the Fund in future years. Without these waivers, the Class A, C and I Shares total annual operating expenses would be 1.99%, 2.74%, and 1.74%.Please review the Fund's prospectus for more detail on the expense waiver. Results shown reflect the waiver, without which the results could have been lower.

"Investors have become more aware of the recent volatility of the global currency markets," said Kenneth A. Froot, founding partner of FDO Partners. "The Leland Currency Strategy Fund may be positioned to help investors manage currency exposure in their portfolios. Focusing on developed-market foreign currency forwards and short-duration fixed income securities, the fund seeks to generate returns with low correlation to major asset classes."

Paul O'Connell, president and partner of FDO, added: "International currency markets trade about $5.3 trillion every day. These deep, liquid markets offer investors an opportunity to generate uncorrelated returns and improve the management of currency risk."

Paul Ingersoll, chief executive officer of Cedar Capital, said: "Leland has developed a unique currency strategy that builds on the management team's distinguished backgrounds as academics and practitioners focused on global foreign exchange markets. We are excited to bring this strategy to market." The Leland Family of Funds is offered by an affiliate of Cedar Capital, LLC. 

Kenneth A. Froot, Ph.D., was the Andre R. Jakurski Professor of Business Administration at Harvard University's Graduate School of Business Administration. He taught courses in Capital Markets, International Finance, and Risk Management. Previously, he served as Director of Research, and held the Industrial Bank of Japan Professorship in Finance and the Thomas Henry Carroll-Ford Foundation Visitor's Chair at Harvard. At MIT, he held the Ford International Development Chair. His research on a wide range of topics in finance, risk management, and international markets has been published in many journals and books. Professor Froot is a founding partner of FDO Partners, LLC and State Street Associates.

Paul O'Connell, Ph.D., has 17 years of experience in the research and practice of international finance and capital allocation. He has written and published articles on a wide variety of related topics including exchange rate behavior, international capital flows and labor migration. From 1994 to 1997, he served as an international economics Teaching Fellow at Harvard University. He has also served as a member of the Editorial Board of the Emerging Markets Review, a member of the Review Board for the Research Foundation of the CFA Institute, and a referee to a number of academic journals. Dr. O'Connell serves as the president and partner of FDO partners.

About the Leland Family of Funds

The Leland Fund Family offers innovative investment solutions that complement traditional portfolio allocations. Through its partnerships, Leland Funds include strategies which provide investors with opportunities beyond existing investment alternatives. Leland Funds are offered by Good Harbor Financial, LLC, a wholly-owned subsidiary of Cedar Capital, LLC.  Good Harbor Financial, LLC is the investment adviser to The Leland Currency Strategy Fund. Additional information and a Prospectus are available at

About FDO Partners

FDO Partners, LLC is a global investment manager dedicated to providing world-class investment advisory services. FDO's risk-focused investment approach is quantitatively rigorous and aims to transform data relationships into tradable systems. The firm's proprietary models develop forecasts by combining fundamental, technical, financial, and behavioral data from multiple sources, across multiple asset classes.  In the development of its powerful suite of products, FDO has drawn on years of global markets investing experience, original academic research, and innovative business and research endeavors. FDO has been managing quantitative currency strategies since its inception in 1997 and enjoys one of the longest running track records in foreign exchange management.  Additional information is available at

Investors should carefully consider the investment objectives, risks, charges and expenses of the Leland Funds prior to investing. This and other important information about the Funds is contained in the prospectus, which can be obtained by calling 877-270-2848. The prospectus should be read carefully before investing. The Leland Funds are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. Good Harbor Financial, LLC is the investment adviser to the Leland Funds. Good Harbor Financial, LLC and FDO Partners are not affiliated with Northern Lights Distributors, LLC.

Effective July 2, 2015 The Good Harbor Tactical Currency Strategy Fund was renamed to Leland Currency Strategy Fund. The Leland Currency Strategy Fund (formally Good Harbor Tactical Currency Strategy Fund) Class A, C and I shares commenced operations on May 30, 2014.

Mutual Funds involve risks including the possible loss of principal. ETFs, ETNs and mutual funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. ETFs, ETNs and mutual funds are subject to issuer, fixed-income and risks specific to the fund.

Foreign currency forward contracts are a type of derivative contract whereby the Fund may agree to buy or sell a country's or region's currency at a specific price on a specific date in the future. Foreign currency forward contracts are individually negotiated and privately traded such that they are dependent upon the creditworthiness of the counterparty and subject to counterparty risk. The Fund's use of forward contracts may amplify losses such that the loss on leveraged transactions may substantially exceed the initial investment. Forward contracts may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations.

Investments in foreign currencies are subject to political and economic risks, civil conflicts and war and greater volatility.  Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates, imposition of currency controls and economic or political developments in the U.S. or abroad. The Fund may be particularly susceptible to economic, political, regulatory or other events or conditions affecting countries within the specific geographic regions in which the Fund invests.

As a non-diversified fund, the Fund may invest more than 5% of its total assets in the securities of one or more issuers. The Fund may invest in fixed income securities, including US Government Securities and sovereign bonds which are subject to changing financial conditions. Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates. The Fund allocates its investments between currencies and fixed income securities and among different asset classes within each category. Market conditions could cause these securities to fall in tandem, creating correlation risk. Issuers may not make interest or principal payments on securities, resulting in losses to the Fund. Overall fixed income and currency market risk, including volatility, may affect the value of individual instruments in which the Fund invests.

The Adviser's reliance on its strategy and its judgments about the value and potential appreciation securities in which the Fund invests may prove to be incorrect, including the Adviser's tactical allocation of the Fund's portfolio among its investments. The ability of the Fund to meet its investment objective is directly related to the Adviser's proprietary investment process.

MSCI EAFE Currency Index is an index designed to measure the total return of currencies of the MSCI EAFE Index constituents, weighted by their country weights.


Lev Janashvili 
(646) 922-7762

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SOURCE The Leland Family of Funds