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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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"The 1290 SmartBeta Equity Fund's quantitative approach focusing on low-volatility, high-quality stocks faced headwinds in 3Q25 despite strong global markets."
The 1290 SmartBeta Equity Fund delivered performance during a strong third quarter 2025 as global markets set multiple new records. The fund benefited from positive stock selection by avoiding underperforming positions in Philip Morris, Intuitive Surgical, and Netflix, while sector allocation contributed positively through underweight exposure to Healthcare and Real Estate. However, performance was hindered by the fund's core factor exposure to low-volatility, high-quality stocks, which underperformed during the quarter. Stock selection within Financials and Information Technology sectors detracted, as did the lack of exposure to Tesla. Sector allocation was negatively impacted by overweight positions in Consumer Staples and underweight exposure to Information Technology. The fund maintains its quantitative investment approach focused on achieving long-term capital appreciation through systematic factor-based investing, though this strategy may face headwinds when quality and low-volatility factors fall out of favor in risk-on market environments.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
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