1290 SmartBeta Equity Fund Class I
TNBIX
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- 1290 SmartBeta Equity Fund Class I (TNBIX) is an open-end mutual fund that seeks long-term capital appreciation by investing at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of U.S. companies and foreign companies in developed markets. The fund employs a proprietary SmartBeta quantitative strategy, utilizing computer-aided analysis to filter a universe of global developed-market equities for risk factors such as lower earnings quality, higher price volatility, speculation, and distress, followed by a diversification methodology that reduces concentration risk particularly among the largest market capitalization securities; it targets large-, mid-, and small-cap companies across industries, with top holdings including Apple Inc., NVIDIA Corp., Microsoft Corp., Alphabet Inc., and Amazon.com Inc., and sector allocations led by technology (22.31%), financial services (16.36%), and industrials (15.51%). Class I shares (ticker: TNBIX, CUSIP: US68246A8687), available to certain institutions and individuals with a $1 million minimum investment, carry a net expense ratio of 0.85%; other share classes include Class A (TNBAX) and Class R (TNBRX). The fund, domiciled in the United States and launched on November 12, 2014, is advised by Equitable Investment Management, LLC (EIM LLC), an indirect wholly-owned subsidiary of Equitable Holdings, Inc., with a team of portfolio managers including Kenneth Kozlowski and Alwi Chan (since inception), Cameron Gray (since 2014), Ram Rasaratnam (since March 2021), and Jonathan White (since March 2023). It benchmarks performance against the MSCI World (Net) Index and maintains broad geographic exposure, with approximately 72.84% in U.S. stocks, 25.74% in non-U.S. stocks (including Eurozone at 8.12%, Canada at 5.42%, Europe ex-Euro at 5.11%, and Japan at 3.74%), and minor allocations to cash and U.S. bonds; as of the latest data, total net assets stand at $213.69 million, with Class I shares comprising $204.23 million. In recent developments, the fund continues to operate under its established quantitative SmartBeta framework with no reported acquisitions, partnerships, funding rounds, or major strategic shifts specific to TNBIX in the last 1-2 years; however, portfolio management saw the addition of Jonathan White in March 2023, and the adviser maintains an expense limitation arrangement through April 30, 2026, capping annual operating expenses at 0.85% (exclusive of certain fees).