Altegris Futures Evolution Strategy Fd Cl N
EVONX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- Northern Lights Fund Tr(Altegris)
- IPO Date
- Oct 31, 2011
- CIK
- 0001314414
- Similar Companies
- Business
- Altegris Futures Evolution Strategy Fund Class N (EVONX) is a mutual fund that seeks long-term capital appreciation by allocating assets between a managed futures strategy and a fixed income strategy. The managed futures strategy, typically representing 100% to 125% exposure using notional funding, provides access to trend following and systematic trend managers such as Winton Trend, ISAM Systematic Trend, and Winton Diversified Macro through an option facility or direct investments; these managers trade in futures, options, forwards, and spot contracts across commodities (including softs, livestock, grains, base metals, precious metals, and energies), financial indices, foreign currencies, and equity indices, employing long and short positions for potential returns in rising and falling markets. The fixed income strategy, typically 60%-80% of net assets or 70%-100% exposure, invests in mutual funds managed by DoubleLine Capital LP, focusing on low duration, core fixed income, and opportunistic high yield securities such as U.S. and foreign government bonds, corporate debt, mortgage-backed securities, asset-backed securities, bank loans, emerging market debt, and junk bonds; the Fund may also use derivatives including swaps, structured notes, and credit default swaps for hedging, leverage, or exposure, with total fund exposure ranging from 170% to 200%. The Fund offers four share classes—Class A (EVOAX), Class C (EVOCX), Class I (EVOIX), and Class N (EVONX)—distributed by Northern Lights Distributors, LLC, with minimum initial investments ranging from $2,500 to $1,000,000 and a 1% redemption fee on shares sold within 30 days; it pays monthly distributions and operates without geographic restrictions, targeting global markets across stocks, bonds, currencies, and commodities for institutional and retail investors seeking diversification and low correlation to traditional assets. Launched on October 31, 2011, the Fund is advised by Altegris Advisors LLC, a CFTC- and NFA-registered commodity pool operator and SEC-registered investment adviser based in Solana Beach, California, with recent reports as of June 30, 2025, indicating total net assets around $140 million. In July 2021, the Fund shifted its fixed income implementation from DoubleLine serving as direct sub-adviser to investing in one or more DoubleLine-managed mutual funds, allowing flexible allocations of 70%-100% to low duration/core fixed income and 0%-30% to opportunistic strategies based on market conditions; the Adviser's fee waiver agreement was extended through at least October 31, 2025, capping net expense ratios (including acquired fund fees) at 1.59% for Class A and N, 2.34% for Class C, and 1.34% for Class I.