BOSTON, May 09, 2017 (GLOBE NEWSWIRE) -- The Eventide Healthcare & Life Sciences Fund (NASDAQ:ETAHX)(NASDAQ:ETCHX)(NASDAQ:ETIHX) (NASDAQ:ETNHX) was named as a Wall Street Journal “Category King” for the Health & Biotech Category for the one-year period ending March 31, 2017. The Fund ranked #7 in the Category out of 91 Funds. The Category King award recognizes the top 10 Funds in each equity category for the period based on total return.
The Eventide Healthcare & Life Sciences Fund is a diversified equity mutual fund that seeks to provide long-term capital appreciation. It invests at least 80% of its net assets in the health and life sciences sectors, and concentrates investments in the drug-related industries.
The Fund is managed by lead portfolio manager and Eventide CIO Finny Kuruvilla, MD PhD. Dr. Kuruvilla offered the following comments and outlook for the Fund:
“After a volatile and negative 2016, biotech began 2017 with strong performance during the first quarter. Last year it was political uncertainty that plagued the industry as politicians often attacked the high prices of drugs. While a political overhang remains, investors have begun to reexamine the fundamentals. We have argued that healthcare and biotech are among the market’s most attractive sectors and industries, respectively, in regards to valuation and outlook. Moreover, we continue to believe that the space will be highly acquisitive, making the mid-cap space particularly exciting.”
The following table summarizes the Fund’s performance since inception:
| Fund Returns | 31 Mar 2017 | |||||||
| Eventide Healthcare & Life Sciences Fund | 3 month | 1 Year | 3 Years | Since Inception | ||||
| Class N | 12.93 | % | 24.12 | % | 8.83 | % | 21.38 | % |
| Class A without load | 12.86 | % | 24.02 | % | 8.77 | % | 21.28 | % |
| Class A with 5.75% load | 6.40 | % | 16.92 | % | 6.64 | % | 19.60 | % |
| Class C | 12.68 | % | 23.13 | % | 7.98 | % | 20.40 | % |
| Class I | 12.93 | % | 24.30 | % | 9.04 | % | 21.59 | % |
| Benchmarks | ||||||||
| S&P 500 Total Return Index | 6.07 | % | 17.17 | % | 10.37 | % | 15.14 | % |
| Healthcare Blended Index | 9.56 | % | 20.77 | % | 15.77 | % | 22.46 | % |
Performance is historical and does not guarantee future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the data quoted. Investors cannot directly invest in an index and unmanaged index returns do not reflect any fees, expenses or sales charges. To obtain the most recent month-end performance information and a current Eventide Healthcare & Life Sciences Fund prospectus please call the fund, toll free at 1-877-771-EVEN (3836).
Eventide Healthcare & Life Sciences Fund expenses: Class A, Total Expenses 1.60%; Class C, Total Expenses 2.35%; Class I, Total Expenses 1.35%; Class N, Total Expenses 1.55%.
The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Because of ongoing market volatility, Fund performance may be subject to substantial short-term changes.
The S&P 500 is an index created by Standard & Poor's of American stocks with the largest market capitalization. The Healthcare Blended Index is composed of equal parts of the S&P 400 Healthcare Index and the S&P 600 Healthcare Index from Fund inception on 27 December, 2012. Neither are investment products available for purchase. The volatility of the indices may be materially different than that of the Fund, and investors should not expect the Fund to achieve the same results as the indices listed.
Performance figures for periods greater than 1 year are annualized. Annualized since inception returns assume an inception date of 27 December 2012.
The Fund is managed by Eventide Asset Management, a Boston-based registered investment adviser. Eventide serves as the Adviser to the Eventide Healthcare & Life Sciences Fund, the Eventide Gilead Fund, and the Eventide Multi-Asset Income Fund, and manages more than $1.7B in net assets as of March 31, 2017.
Wall Street Journal rankings are not intended to constitute investment advice. Rather, you should use the rankings for informational purposes only.
Registration of an investment adviser does not imply any level of skill or training.
Mutual Funds involve risk including the possible loss of principal. Past performance does not guarantee future results. The Fund can invest in smaller-sized companies which may experience higher failure rates than larger companies and normally have a lower trading volume than larger companies. The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. The Fund can have risk associated with the biotechnology and pharmaceutical industry in which these companies may be heavily dependent on clinical trials with uncertain outcomes and decisions made by the U.S. Food and Drug Administration. The Fund can have risk related to option investing. There are special risks associated with investments in foreign companies including exposure to currency fluctuations, less efficient trading markets, political instability and differing auditing and legal standards. The Fund can invest in private companies. Private investments include various risks including but not limited to lack of liquidity, capital commitment risk, and valuation risk. Private companies may not be financially profitable and have uncertain futures, subjecting them to additional risks. Because of ongoing market volatility, Fund performance may be subject to substantial short-term changes.
Investors should consider the Fund's objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the Eventide Healthcare & Life Sciences Fund can be found in the Fund's prospectus, which can be obtained at www.eventidefunds.com or by calling 877-771-EVEN (3836). Please read the prospectus carefully before investing. The Fund is distributed by Northern Lights Distributors, Member FINRA/SIPC, which is not affiliated with Eventide Asset Management, LLC.