Investment Philosophy / Process

  • The strategy seeks to avoid full participation in speculative bubbles and exhibit less extreme downturns during market shocks
  • Filter: seek to reduce uncompensated exposure to equity market risks such as earnings sustainability, high volatility, speculation, distress risk
  • Diversify: seek to reduce exposure to concentration risk
  • Implement: benefit from investment experience while managing costs

Fund Details

  Class A Class I Class R
Ticker TNBAX TNBIX TNBRX
CUSIP 68246A 884 68246A 868 68246A 850
ISIN US68246A8844 US68246A8687 US68246A8505
Investment Minimum* $1,000 for all accounts
except:
• $500 for certain fee-
based programs
• $500, if establishing
an Automatic Bank
Draft Plan
• $250 minimum for purchases
by accounts through eligible
financial intermediary platforms
that have entered into
selling or service agreements
with the Distributor and
that are eligible to purchase
Class A shares without
a sales charge
• No minimum for
certain employer-sponsored
retirement plans and
certain wrap fee based programs
$1,000,000 for certain
institutions and individuals
• $1,000 for certain
employees (or their
immediate family
members) of AXA
Financial or its
subsidiaries
• Class I Shares are
available to clients of
registered investment
advisers who have
$250,000 invested in
the Fund
• No minimum investment
for a wrap account client
of an eligible broker-dealer
or a client of a fee-based
planner that is unaffiliated
with a broker-dealer
No minimum
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*Read the Prospectus for more information.

How the Fund invests

Under normal market conditions, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities. The Fund invests primarily in equity securities of U.S. companies and foreign companies in developed markets. The Fund may invest in large, mid and small capitalization companies and will be broadly diversified across companies and industries.

Fund Objective

Seeks to achieve long-term capital appreciation.

A SmartBeta strategy designed to complement traditional indexing

Where does 1290 SmartBeta Equity fit relative to other index approaches?

graph
  • Pure lower risk approaches (such as minimum volatility) focus solely on lowering volatility, and may suffer from weaker returns
  • Pure fundamental approach (based on factors such as cash flow, dividend) seeks higher return but can suffer from the effects of higher volatility
  • SmartBeta equity approach seeks to combine attributes of lower risk-focused and fundamental approaches, while aiming to avoid the limitations of index tracking

Portfolio Managers

AXA logo

Will Jump, CFA®

Americas Chief Investment Officer, Rosenberg Equities

Will has been with Rosenberg Equities since 1990 when he first joined the firm as a trader and portfolio engineer. During his tenure with Rosenberg Equities, Will has held a number of positions including Director of Market Neutral Strategies, Director of Global Product Strategy, Chief Technology Officer, and Europe Chief Executive officer. Prior to his current role, he was a senior research director at Rosenberg Equities. Before coming to Rosenberg Equities, will was a research coordinator at Hull Trading Co. in Chicago and an options market maker and software developer for HZN Options Partners in Chicago.

Will obtained a BA from Swarthmore College in 1977, and an MBA from the Wharton School at the University of Pennsylvania in 1983. He is a holder of the Chartered Financial Analyst designation.

Gideon Smith, CFA®

Europe Chief Investment Officer, Rosenberg Equities

Gideon joined Rosenberg Equities in 1998 and is currently the Europe chief investment officer based in the firm's London office. He previously held a number of positions at the firm, including Europe deputy chief investment officer, director of client services and head of strategy engineering for Europe. Prior to joining Rosenberg Equities, Gideon was a chartered accountant at Arthur Andersen working in their Financial Markets Division in London.

Gideon obtained his BSc from Manchester University in 1992 and received his MBA from London Business School in 2000. He is a holder of the Chartered Financial Analyst designation.

Kevin Chen, CFA®

Pan Asia Chief Investment Officer, Rosenberg Equities

Kevin joined Rosenberg Equities in 1999 and was appointed Pan Asia chief investment officer in 2010. Before his current role, Kevin served as portfolio engineer, America's deputy chief investment officer, and Asia Pacific chief investment officer. Prior to joining the firm, he was a summer associate with AON Corporation in Chicago; a research assistant for the Catholic University of America in Washington DC; and a journalist, director, and producer in Haikou, China.

Kevin obtained a BS from Zhejiang University in China and an MS from the Catholic University of America. He earned an MBA from the University of Chicago Graduate School of Business and is a holder of the Chartered Financial Analyst designation.

CFA is a registered trademark of the CFA Institute.

The success of the Fund’s investment strategy depends largely on the effectiveness of the Sub-Adviser’s quantitative model for screening securities for investment. Securities selected using quantitative analysis can react differently to issuer, political, market, and economic developments than the market as a whole or securities selected using only fundamental analysis, which could adversely affect value. The factors used in quantitative analysis and the weight placed on those factors may not be predictive of a security’s value. In addition, factors that affect a security’s value can change over time and these changes may not be reflected in the quantitative model.

Investments in foreign securities, including depositary receipts, involve risks not associated with investing in U.S. securities. Foreign markets, particularly emerging markets, may be less liquid, more volatile and subject to less government supervision than domestic markets. Security values also may be negatively affected by changes in the exchange rates between the U.S. dollar and foreign currencies. Differences between U.S. and foreign legal, political and economic systems, regulatory regimes and market practices also may impact security values and it may take more time to clear and settle trades involving foreign securities.

Top 15 Holdings as of 06/30/2018 subject to change

Security Weight %
Procter & Gamble Co. (The)1.12%
Johnson & Johnson1.09%
PepsiCo, Inc.1.04%
Visa, Inc., Class A1.03%
UnitedHealth Group, Inc.1.02%
Exxon Mobil Corp.0.99%
Coca-Cola Co. (The)0.97%
TJX Cos., Inc. (The)0.91%
Toronto-Dominion Bank (The)0.90%
Home Depot, Inc. (The)0.81%
Accenture plc, Class A0.78%
Costco Wholesale Corp.0.75%
SAP SE0.74%
Northrop Grumman Corp.0.73%
Adobe Systems, Inc.0.73%

Monthly Performance as of 08/31/2018

Total Returns
Fund1 month3 monthYTD1 yr3 yrSI1
Class A (NAV)1.51%4.68%3.75%11.19%11.35%8.16%
Class A with sales charges (MOP)2-4.07%-1.09%-1.92%5.04%9.25%6.57%
Class I (NAV)1.51%4.76%3.91%11.42%11.60%8.42%
Class R (NAV)1.44%4.52%3.50%10.85%11.02%7.87%
MSCI World (Net) Index31.24%4.35%4.85%13.10%11.92%8.55%
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Quarterly Performance as of 06/30/2018

Total Returns
Fund1 month3 monthYTD1 yr3 yrSI1
Class A (NAV)0.00%0.83%-0.90%8.52%8.41%7.20%
Class A with sales charges (MOP)2-5.51%-4.70%-6.31%2.56%6.37%5.54%
Class I (NAV)0.08%0.91%-0.73%8.84%8.66%7.47%
Class R (NAV)-0.08%0.75%-1.06%8.18%8.12%6.92%
MSCI World (Net) Index3-0.05%1.73%0.43%11.09%8.48%7.68%
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Morningstar Rating: U.S. Funds World Large Stock Category
as of 08/31/2018

1290 SmartBeta Equity I (TNBIX) Rank Percentile Overall 3 Year
Rating
# of Funds 727 727

Overall Morningstar Rating as of 08/31/2018 based on risk-adjusted returns (I share).

Morningstar U.S. Funds World Large Stock Category Ranking
as of 08/31/2018

1290 SmartBeta Equity I (TNBIX) Rank Percentile Morningstar RatingTM Out of # of Funds
1 Year 47 - 880
3 Year 41 727

^ As of 8/31/18, for class I shares (TNBIX). Other share classes may have different ratings. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10- year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. The Morningstar percentile ranking is based on the fund’s total-return percentile rank relative to all managed products that have the same category for the same time period. The highest (or most favorable) percentile rank is 1%, and the lowest (or least favorable) percentile rank is 100%. Morningstar total return includes both income and capital gains or losses and is not adjusted for sales charges.

Expense Ratios as of 03/01/2018

Fund Gross Expense Ratio Net Expense Ratio4
Class A Shares2.77%1.15%
Class I Shares2.49%0.90%
Class R Shares2.98%1.40%

Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance data may be higher or lower than actual data quoted. For the most current month-end performance data please call (888) 310-0416.

One cannot invest directly in an index.

Returns for periods of less than one year are not annualized.

1Fund inception date of November 12, 2014.

2Maximum Offering Price (MOP) for Class A shares includes the Fund's maximum sales charge of 5.50%. Performance shown at NAV does not include these sales charges and would have been lower had it been taken into account.

3MSCI World (Net) Index: An unmanaged index considered representative of stock markets of developed countries.

4Pursuant to a contract, 1290 Asset Managers has agreed to make payments or waive its management, administrative and other fees to limit the expenses of the Fund through April 30, 2019 (unless the Board of Trustees consents to an earlier revision or termination of this arrangement) ("Expense Limitation Arrangement") so that the annual operating expenses of the Fund (exclusive of taxes, interest, brokerage commissions, capitalized expenses (other than offering costs), fees and expenses of other investment companies in which the Fund invests, 12b-1 fees, and extraordinary expenses) do not exceed an annual rate of average daily net assets of 0.90% for Class A shares, Class I shares and Class R Shares of the Fund. The Expense Limitation Arrangement may be terminated by 1290 Asset Managers at any time after April 30, 2019.

Distributions

Class A

Record DateEx-DatePayable DateOrdinary IncomeShort-Term Capital GainLong-Term Capital Gain
12/13/201712/14/201712/14/2017$0.1480$0.0640$0.1310
12/15/201612/16/201612/16/2016$0.1100--
12/30/201512/31/201512/31/2015$0.1467--
12/30/201412/31/201412/31/2014$0.0297--
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Class I

Record DateEx-DatePayable DateOrdinary IncomeShort-Term Capital GainLong-Term Capital Gain
12/13/201712/14/201712/14/2017$0.1750$0.0640$0.1310
12/15/201612/16/201612/16/2016$0.1370--
12/30/201512/31/201512/31/2015$0.1726--
12/30/201412/31/201412/31/2014$0.0331--
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Class R

Record DateEx-DatePayable DateOrdinary IncomeShort-Term Capital GainLong-Term Capital Gain
12/13/201712/14/201712/14/2017$0.1180$0.0640$0.1310
12/15/201612/16/201612/16/2016$0.0830--
12/30/201512/31/201512/31/2015$0.1209--
12/30/201412/31/201412/31/2014$0.0262--
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