0001435109-19-000087.txt : 20190301 0001435109-19-000087.hdr.sgml : 20190301 20190301153313 ACCESSION NUMBER: 0001435109-19-000087 CONFORMED SUBMISSION TYPE: N-CSRS PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20181231 FILED AS OF DATE: 20190301 DATE AS OF CHANGE: 20190301 EFFECTIVENESS DATE: 20190301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORUM FUNDS II CENTRAL INDEX KEY: 0001576367 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CSRS SEC ACT: 1940 Act SEC FILE NUMBER: 811-22842 FILM NUMBER: 19648886 BUSINESS ADDRESS: STREET 1: THREE CANAL PLAZA, SUITE 600 CITY: PORTLAND STATE: ME ZIP: 04101 BUSINESS PHONE: 207-347-2000 MAIL ADDRESS: STREET 1: THREE CANAL PLAZA, SUITE 600 CITY: PORTLAND STATE: ME ZIP: 04101 0001576367 S000045889 Acuitas International Small Cap Fund C000142988 Institutional Shares AISCX C000142989 Investor Shares 0001576367 S000045890 Acuitas US Microcap Fund C000142990 Institutional Shares AFMCX C000142991 Investor Shares N-CSRS 1 fp0040096_ncsrs.htm
As filed with the Securities and Exchange Commission on March 1, 2019

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

Investment Company Act file number 811-22842

FORUM FUNDS II
Three Canal Plaza, Suite 600
Portland, Maine 04101


Jessica Chase, Principal Executive Officer
Three Canal Plaza, Suite 600
Portland, Maine 04101
207-347-2000


Date of fiscal year end: June 30

Date of reporting period: July 1, 2018 – December 31, 2018

ITEM 1. REPORT TO STOCKHOLDERS.

 





 

ACUITAS INTERNATIONAL SMALL CAP FUND

 

ACUITAS US MICROCAP FUND

 

SEMI-ANNUAL REPORT

 

December 31, 2018

 

(Unaudited)

 

Beginning on January 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from the Fund or from your financial intermediary, such as a broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

 

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from the Fund or your financial intermediary electronically by contacting the Fund at (844) 805-5628, acuitas.ta@atlanticfundservices.com, or by contacting your financial intermediary directly.

 

You may elect to receive all future reports in paper free of charge. You can inform the Fund or your financial intermediary that you wish to continue receiving paper copies of your shareholder reports by contacting the Fund at (844) 805-5628, acuitas.ta@atlanticfundservices.com, or by contacting your financial intermediary directly. Your election to receive reports in paper will apply to all funds held with Acuitas Funds.


 

 

TABLE OF CONTENTS

 

 

 

Acuitas International Small Cap Fund  
Schedule of Investments 1
Statement of Assets and Liabilities 5
Statement of Operations 6
Statements of Changes in Net Assets 7
Financial Highlights 8
Acuitas US Microcap Fund  
Schedule of Investments 9
Statement of Assets and Liabilities 12
Statement of Operations 13
Statements of Changes in Net Assets 14
Financial Highlights 15
Notes to Financial Statements 16
Additional Information 21

 

ACUITAS INTERNATIONAL SMALL CAP FUND

SCHEDULE OF INVESTMENTS

DECEMBER 31, 2018

 

 

Shares     Security Description   Value  
Equity Securities - 97.3%        
Common Stock - 97.0%        
Australia - 4.9%        
  13,069     ARB Corp., Ltd.   $ 138,077  
  100,000     Duxton Water, Ltd.     106,357  
  74,000     Greencross, Ltd.     283,543  
  105,339     IDP Education, Ltd.     732,310  
  20,600     SmartGroup Corp., Ltd.     128,845  
  66,590     The Star Entertainment Group, Ltd.     213,876  
  91,660     Western Areas, Ltd.     129,122  
              1,732,130  
Austria - 2.3%        
  13,814     FACC AG (a)     209,555  
  15,641     Palfinger AG     397,839  
  3,000     Schoeller-Bleckmann Oilfield Equipment AG     197,126  
              804,520  
Belgium - 1.0%        
  4,600     Akka Technologies     232,954  
  2,935     D'ieteren SA/NV     110,702  
              343,656  
Brazil - 1.7%        
  52,480     Duratex SA     160,185  
  45,922     Estacio Participacoes SA     281,522  
  33,016     Tupy SA     171,650  
              613,357  
Canada - 2.5%        
  9,630     CI Financial Corp.     121,892  
  80,000     Horizon North Logistics, Inc.     105,479  
  14,200     Intertape Polymer Group, Inc.     175,992  
  24,100     Martinrea International, Inc.     191,712  
  2,360     The North West Co., Inc.     54,315  
  60,780     TORC Oil & Gas, Ltd.     194,556  
  167,300     Trevali Mining Corp. (a)     50,857  
              894,803  
China - 2.6%        
  490,040     China BlueChemical, Ltd., Class H     153,949  
  604,000     China Communications Services Corp., Ltd.     499,830  
  606,000     Goodbaby International Holdings, Ltd.     190,379  
  22,380     Minth Group, Ltd.     72,166  
              916,324  
Cyprus - 0.6%        
  74,500     Atalaya Mining PLC (a)     198,936  
                 
Denmark - 1.9%        
  18,345     GN Store Nord A/S     684,929  
                 
Finland - 0.2%        
  9,000     Ferratum OYJ     82,494  
                 
France - 2.9%        
  6,411     Albioma SA     138,828  
  11,950     Elis SA (a)     199,214  
  15,000     FIGEAC-AERO (a)     189,049  
  6,061     Kaufman & Broad SA     231,942  
  3,200     LNA Sante SA     159,672  
  6,029     Maisons du Monde SA (a)(b)     115,428  
              1,034,133  
Germany - 6.0%        
  14,938     ADVA Optical Networking SE (a)     107,056  
  3,870     CANCOM SE     127,080  
  16,963     Deutz AG     99,995  
  12,400     FinTech Group AG (a)     240,956  
  4,050     Gerresheimer AG     265,656  
  12,362     Hamburger Hafen und Logistik AG     245,458  

  

Shares     Security Description   Value  
Germany - 6.0% (continued)        
  4,505     Jenoptik AG   $ 117,581  
  3,347     Nemetschek SE     367,184  
  6,994     Siltronic AG     578,566  
              2,149,532  
Guernsey - 0.6%        
  74,807     SafeCharge International Group, Ltd.     224,070  
                 
Hong Kong - 3.4%        
  20,030     ASM Pacific Technology, Ltd.     192,997  
  198,600     SJM Holdings, Ltd.     185,145  
  112,500     SmarTone Telecommunications Holdings, Ltd.     124,705  
  1,185,770     Tongda Group Holdings, Ltd.     118,115  
  181,000     Towngas China Co., Ltd. (a)     134,297  
  120,000     Vitasoy International Holdings, Ltd.     457,442  
              1,212,701  
Indonesia - 0.6%        
  1,156,010     Ciputra Development Tbk PT     81,194  
  177,900     Semen Indonesia Persero Tbk PT     142,271  
              223,465  
Ireland - 1.3%        
  86,670     C&C Group PLC     270,598  
  141,000     Hibernia REIT PLC     202,262  
              472,860  
Israel - 0.3%        
  857     Delek Group, Ltd.     122,848  
                 
Italy - 1.3%        
  75,200     Cairo Communication SpA     295,099  
  15,770     Zignago Vetro SpA     153,582  
              448,681  
Japan - 29.8%        
  33,200     Aeon Mall Co., Ltd.     529,782  
  13,450     Alps Alpine Co., Ltd.     261,993  
  11,220     Credit Saison Co., Ltd.     132,157  
  1,000     Dainichiseika Color & Chemicals Manufacturing Co., Ltd.     24,862  
  6,640     DIC Corp.     204,159  
  3,400     Digital Arts, Inc.     189,225  
  7,110     Dip Corp.     116,830  
  7,040     FCC Co., Ltd.     165,522  
  4,900     F-Tech, Inc.     40,995  
  11,555     Fumakilla, Ltd.     121,659  
  8,100     Glory, Ltd.     182,833  
  18,100     Gurunavi, Inc.     112,294  
  3,700     Hirata Corp.     165,581  
  12,900     Infomart Corp.     118,284  
  15,500     Internet Initiative Japan, Inc.     351,704  
  8,400     Lasertec Corp.     214,742  
  13,818     Makino Milling Machine Co., Ltd.     490,416  
  14,600     Marui Group Co., Ltd.     284,128  
  2,000     Maruzen Showa Unyu Co., Ltd.     50,180  
  15,400     Matsumotokiyoshi Holdings Co., Ltd.     472,798  
  16,400     Meidensha Corp.     206,936  
  7,000     Milbon Co., Ltd.     285,480  
  7,800     Nagase & Co., Ltd.     107,814  
  28,820     Nakano Corp.     131,209  
  7,900     Nihon Chouzai Co., Ltd.     229,205  
  10,900     Nippon Ceramic Co., Ltd.     234,101  
  48,400     Nippon Suisan Kaisha, Ltd.     271,134  
  12,800     NS Solutions Corp.     308,307  
  4,700     Onoken Co., Ltd.     69,082  
  13,900     Optex Group Co., Ltd.     216,353  
  22,400     Poletowin Pitcrew Holdings, Inc.     189,451  

 

See Notes to Financial Statements.

1

 

ACUITAS INTERNATIONAL SMALL CAP FUND

SCHEDULE OF INVESTMENTS

DECEMBER 31, 2018

 

 

Shares     Security Description   Value  
Japan - 29.8% (continued)        
  21,600     Rohto Pharmaceutical Co., Ltd.   $ 591,214  
  11,810     Sanwa Holdings Corp.     134,580  
  1,510     SCSK Corp.     53,591  
  26,300     Seikitokyu Kogyo Co., Ltd.     145,651  
  1,500     Shinagawa Refractories Co., Ltd.     51,457  
  15,230     Shinnihon Corp.     144,790  
  1,900     Studio Alice Co., Ltd.     39,714  
  43,700     Sumitomo Forestry Co., Ltd.     574,134  
  26,400     Sun Frontier Fudousan Co., Ltd.     256,280  
  4,000     Sun-Wa Technos Corp.     37,553  
  6,100     Taiyo Holdings Co., Ltd.     172,250  
  7,700     Takaoka Toko Co., Ltd.     96,527  
  7,600     Take and Give Needs Co., Ltd.     119,889  
  2,900     Tamron Co., Ltd.     41,540  
  35,320     The Chiba Bank, Ltd.     197,860  
  2,000     The Miyazaki Bank, Ltd.     53,100  
  21,100     Toyo Construction Co., Ltd.     72,769  
  5,700     United Arrows, Ltd.     182,797  
  1,600     V Technology Co., Ltd.     181,598  
  16,100     Yamazen Corp.     151,592  
  31,800     Yonex Co., Ltd.     172,919  
  5,000     Yorozu Corp.     63,090  
  6,300     Yuasa Trading Co., Ltd.     180,772  
  45,000     Yumeshin Holdings Co., Ltd.     325,168  
  14,300     Zojirushi Corp.     125,902  
              10,645,953  
Luxembourg - 0.4%        
  5,746     Ternium SA, ADR     155,717  
Malaysia - 0.3%        
  135,760     Genting Malaysia Bhd     99,212  
Mexico - 2.5%        
  131,279     Grupo Aeroportuario del Centro Norte SAB de CV     626,543  
  760     Grupo Aeroportuario del Sureste SAB de CV, ADR     114,456  
  20,900     Grupo Comercial Chedraui SA de CV     41,998  
  100,740     PLA Administradora Industrial S de RL de CV REIT     119,852  
              902,849  
Netherlands - 2.2%        
  14,137     Intertrust NV (b)     237,941  
  20,085     Philips Lighting NV (b)     471,063  
  10,000     Wessanen     91,488  
              800,492  
New Zealand - 0.7%        
  104,158     Vista Group International, Ltd.     262,166  
Norway - 0.9%        
  24,500     Hoegh LNG Holdings, Ltd.     108,098  
  10,071     Norway Royal Salmon ASA     208,490  
  625     TGS NOPEC Geophysical Co. ASA     15,093  
              331,681  
Philippines - 0.8%        
  3,920,500     Filinvest Land, Inc.     105,123  
  104,410     Metropolitan Bank & Trust Co.     160,730  
              265,853  
Portugal - 0.8%        
  19,417     Altri SGPS SA     129,033  
  25,920     NOS SGPS SA     157,250  
              286,283  

 

Shares     Security Description   Value  
South Africa - 0.7%        
  80,000     Life Healthcare Group Holdings, Ltd.   $ 146,794  
  18,260     Truworths International, Ltd.     111,813  
              258,607  
South Korea - 1.3%        
  1,386     Cosmax, Inc. (a)     161,481  
  23,660     DGB Financial Group, Inc. (a)     176,209  
  930     SK Materials Co., Ltd. (a)     125,856  
              463,546  
Spain - 0.4%        
  5,064     Cia de Distribucion Integral Logista Holdings SA     126,833  
Sweden - 6.5%        
  47,531     Betsson AB (a)     391,491  
  7,619     BioGaia AB     272,938  
  8,680     Bulten AB     86,379  
  7,242     Evolution Gaming Group AB (b)     416,317  
  30,000     Humana AB     203,093  
  27,660     Husqvarna AB     205,040  
  3,208     Lifco AB, Class B     118,541  
  22,540     Nobina AB (b)     152,336  
  3,354     Nolato AB, Class B     138,694  
  217,480     Opus Group AB     117,292  
  10,449     Tethys Oil AB     76,361  
  5,000     Troax Group AB     143,575  
              2,322,057  
Switzerland - 1.4%        
  1,531     Kardex AG (a)     176,636  
  2,820     Valiant Holding AG     309,858  
  13     Vetropack Holding AG     26,585  
              513,079  
Taiwan - 1.7%        
  32,020     Advantech Co., Ltd.     219,286  
  66,280     FLEXium Interconnect, Inc.     160,649  
  238,320     King's Town Bank Co., Ltd.     223,689  
              603,624  
United Kingdom - 12.5%        
  5,800     accesso Technology Group PLC (a)     107,194  
  78,000     Biffa PLC (b)     194,662  
  320,823     boohoo.com plc (a)     660,407  
  32,000     Clipper Logistics PLC     91,771  
  11,700     CVS Group PLC     98,648  
  24,826     Dialog Semiconductor PLC (a)     641,136  
  3,818     EMIS Group PLC     44,430  
  14,232     Greggs PLC     229,654  
  96,705     Gulf Keystone Petroleum, Ltd. (a)     223,101  
  43,540     Halfords Group PLC     141,515  
  43,590     Howden Joinery Group PLC     242,019  
  10,725     JD Sports Fashion PLC     47,681  
  21,310     John Wood Group PLC     137,493  
  79,760     McCarthy & Stone PLC (b)     141,005  
  55,850     Merlin Entertainments PLC (b)     226,017  
  30,000     Polypipe Group plc     125,191  
  114,347     QinetiQ Group PLC     417,419  
  37,219     Redde PLC     80,647  
  32,352     Safestore Holdings PLC REIT     208,860  
  3,000     Stallergenes Greer PLC (a)     97,274  
  37,058     Tyman PLC     111,000  
  53,000     Urban & Civic PLC     176,991  
              4,444,115  
Total Common Stock (Cost $40,128,319)     34,641,506  

 

See Notes to Financial Statements.

2

 

ACUITAS INTERNATIONAL SMALL CAP FUND

SCHEDULE OF INVESTMENTS

DECEMBER 31, 2018

 

 

Shares     Security Description   Rate     Value  
Preferred Stock - 0.3%        
Brazil - 0.3%        
  20,184     Alpargatas SA (Cost $83,834)     0.07 %   $ 88,636  
Total Equity Securities (Cost $40,212,153)             34,730,142  

 

Shares     Security Description       Value  
Money Market Fund - 1.6%                
  581,948     BlackRock Liquidity Funds FedFund Portfolio, Institutional Shares, 2.27% (c) (Cost $581,948)             581,948  
Investments, at value - 98.9% (Cost $40,794,101)           $ 35,312,090  
Other Assets & Liabilities, Net - 1.1%             384,489  
Net Assets - 100.0%           $ 35,696,579  

 

ADR American Depositary Receipt
PLC Public Limited Company

REIT Real Estate Investment Trust

(a) Non-income producing security.

(b) Security exempt from registration under Rule 144A under the Securities Act of 1933. At the period end, the value of these securities amounted to $1,954,769 or 5.5% of net assets.
(c) Dividend yield changes daily to reflect current market conditions. Rate was the quoted yield as of December 31, 2018.

 

The following is a summary of the inputs used to value the Fund's investments as of December 31, 2018.

 

The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in Note 2 of the accompanying Notes to Financial Statements. 

 

    Level 1     Level 2     Level 3     Total  
Investments at Value                
Common Stock                                
Australia   $ 1,732,130     $     $     $ 1,732,130  
Austria     804,520                   804,520  
Belgium     343,656                   343,656  
Brazil     613,357                   613,357  
Canada     894,803                   894,803  
China     916,324                   916,324  
Cyprus     198,936                   198,936  
Denmark     684,929                   684,929  
Finland     82,494                   82,494  
France     1,034,133                   1,034,133  
Germany     2,149,532                   2,149,532  
Guernsey     224,070                   224,070  
Hong Kong     1,212,701                   1,212,701  
Indonesia     223,465                   223,465  
Ireland     472,860                   472,860  
Israel     122,848                   122,848  
Italy     448,681                   448,681  
Japan     10,645,953                   10,645,953  
Luxembourg     155,717                   155,717  
Malaysia     99,212                   99,212  
Mexico     902,849                   902,849  
Netherlands     800,492                   800,492  
New Zealand     262,166                   262,166  
Norway     331,681                   331,681  
Philippines     265,853                   265,853  
Portugal     286,283                   286,283  
South Africa     258,607                   258,607  
South Korea     463,546                   463,546  
Spain     126,833                   126,833  
Sweden     2,322,057                   2,322,057  
Switzerland     513,079                   513,079  
Taiwan     603,624                   603,624  
United Kingdom     4,444,115                   4,444,115  
Preferred Stock                                
Brazil     88,636                   88,636  
Money Market Fund           581,948             581,948  
Investments at Value   $ 34,730,142     $ 581,948     $     $ 35,312,090  

 

See Notes to Financial Statements.

3

 

ACUITAS INTERNATIONAL SMALL CAP FUND

SCHEDULE OF INVESTMENTS

DECEMBER 31, 2018

 

 

PORTFOLIO HOLDINGS        
% of Total Investments        
Australia     4.9 %
Austria     2.3 %
Belgium     1.0 %
Brazil     1.7 %
Canada     2.5 %
China     2.6 %
Cyprus     0.6 %
Denmark     1.9 %
Finland     0.2 %
France     2.9 %
Germany     6.1 %
Guernsey     0.6 %
Hong Kong     3.4 %
Indonesia     0.6 %
Ireland     1.3 %
Israel     0.4 %
Italy     1.3 %
Japan     30.2 %
Luxembourg     0.4 %
Malaysia     0.3 %
Mexico     2.6 %
Netherlands     2.3 %
New Zealand     0.7 %
Norway     0.9 %
Philippines     0.8 %
Portugal     0.8 %
South Africa     0.7 %
South Korea     1.3 %
Spain     0.4 %
Sweden     6.6 %
Switzerland     1.5 %
Taiwan     1.7 %
United Kingdom     12.6 %
Preferred Stock     0.3 %
Money Market Fund     1.6 %
      100.0 %

 

See Notes to Financial Statements.

4

 

ACUITAS INTERNATIONAL SMALL CAP FUND

STATEMENT OF ASSETS AND LIABILITIES 

DECEMBER 31, 2018

 

 

ASSETS    
Investments, at value (Cost $40,794,101)   $ 35,312,090  
Foreign currency (Cost $343,805)     350,080  
Receivables:        
Fund shares sold     8,037  
Investment securities sold     177,843  
Dividends     80,060  
Prepaid expenses     11,139  
Total Assets     35,939,249  
LIABILITIES        
Payables:        
Investment securities purchased     79,119  
Fund shares redeemed     120,782  
Accrued Liabilities:        
Investment adviser fees     5,401  
Fund services fees     8,739  
Other expenses     28,629  
Total Liabilities     242,670  
NET ASSETS   $ 35,696,579  
COMPONENTS OF NET ASSETS        
Paid-in capital   $ 44,900,392  
Distributable earnings     (9,203,813 )
NET ASSETS   $ 35,696,579  
SHARES OF BENEFICIAL INTEREST AT NO PAR VALUE (UNLIMITED SHARES AUTHORIZED)        
Institutional Shares     4,537,143  
NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE*        
Institutional Shares (based on net assets of $35,696,579)   $ 7.87  

 

* Shares redeemed or exchanged within 60 days of purchase are charged a 1.00% redemption fee.

 

See Notes to Financial Statements.

5

 

ACUITAS INTERNATIONAL SMALL CAP FUND

STATEMENT OF OPERATIONS

SIX MONTHS ENDED DECEMBER 31, 2018

 

 

INVESTMENT INCOME    
Dividend income (Net of foreign withholding taxes of $44,525)   $ 316,891  
Total Investment Income     316,891  
EXPENSES        
Investment adviser fees     265,460  
Fund services fees     72,053  
Custodian fees     27,563  
Registration fees     9,679  
Professional fees     30,522  
Trustees' fees and expenses     2,170  
Other expenses     47,288  
Total Expenses     454,735  
Fees waived     (122,910 )
Net Expenses     331,825  
NET INVESTMENT LOSS     (14,934 )
NET REALIZED AND UNREALIZED GAIN (LOSS)        
Net realized loss on:        
Investments     (2,626,228 )
Foreign currency transactions     (38,738 )
Net realized loss     (2,664,966 )
Net change in unrealized appreciation (depreciation) on:        
Investments     (7,550,903 )
Foreign currency translations     21,658  
Net change in unrealized appreciation (depreciation)     (7,529,245 )
NET REALIZED AND UNREALIZED LOSS     (10,194,211 )
DECREASE IN NET ASSETS RESULTING FROM OPERATIONS   $ (10,209,145 )

 

See Notes to Financial Statements. 

6

 

ACUITAS INTERNATIONAL SMALL CAP FUND

STATEMENTS OF CHANGES IN NET ASSETS

 

 

 

OPERATIONS     For the Six Months Ended December 31, 2018       For the Year Ended June 30, 2018  
Net investment income (loss)   $ (14,934 )   $ 380,066  
Net realized gain (loss)     (2,664,966 )     4,676,716  
Net change in unrealized appreciation (depreciation)     (7,529,245 )     (2,320,959 )
Increase (Decrease) in Net Assets Resulting from Operations     (10,209,145 )     2,735,823  
                 
DISTRIBUTIONS TO SHAREHOLDERS                
Institutional Shares     (532,942 )     (2,541,258 )*
Total Distributions to Shareholders     (532,942 )     (2,541,258 )
                 
CAPITAL SHARE TRANSACTIONS                
Sale of shares:                
Institutional Shares     2,841,200       4,867,589  
Reinvestment of distributions:                
Institutional Shares     532,942       2,541,258  
Redemption of shares:                
Institutional Shares     (4,934,501 )     (5,944,619 )
Redemption fees:                
Institutional Shares     11       43  
Increase (Decrease) in Net Assets from Capital Share Transactions     (1,560,348 )     1,464,271  
Increase (Decrease) in Net Assets     (12,302,435 )     1,658,836  
                 
NET ASSETS                
Beginning of Period     47,999,014       46,340,178  
End of Period   $ 35,696,579     $ 47,999,014 **
SHARE TRANSACTIONS                
Sale of shares:                
Institutional Shares     307,625       459,848  
Reinvestment of distributions:                
Institutional Shares     68,151       242,950  
Redemption of shares:                
Institutional Shares     (559,839 )     (566,179 )
Increase (Decrease) in Shares     (184,063 )     136,619  

 

* Distribution was the result of net investment income as of June 30, 2018.

** Includes distributions in excess of net investment income of $(15,461) at June 30, 2018. The requirement to disclose the corresponding amount as of December 31, 2018 was eliminated.

 

See Notes to Financial Statements. 

7

 

ACUITAS INTERNATIONAL SMALL CAP FUND

FINANCIAL HIGHLIGHTS

 

 

 

These financial highlights reflect selected data for a share outstanding throughout each period.

 

    For the Six Months Ended December 31,     For the Years Ended June 30,     July 18, 2014 (a) Through June 30,  
    2018     2018     2017     2016     2015  
INSTITUTIONAL SHARES                              
NET ASSET VALUE, Beginning of Period   $ 10.17     $ 10.11     $ 8.78     $ 9.79     $ 10.00  
INVESTMENT OPERATIONS                                        
Net investment income (loss) (b)     (0.00 )(c)     0.08       0.09       0.12       0.08  
Net realized and unrealized gain (loss)     (2.18 )     0.54       1.43       (0.85 )     (0.27 )
Total from Investment Operations     (2.18 )     0.62       1.52       (0.73 )     (0.19 )
DISTRIBUTIONS TO SHAREHOLDERS FROM                                        
Net investment income     (0.12 )     (0.56 )     (0.19 )     (0.28 )     (0.02 )
Total Distributions to Shareholders     (0.12 )     (0.56 )     (0.19 )     (0.28 )     (0.02 )
REDEMPTION FEES(b)     0.00 (c)     0.00 (c)     0.00 (c)     0.00 (c)     0.00 (c)
NET ASSET VALUE, End of Period   $ 7.87     $ 10.17     $ 10.11     $ 8.78     $ 9.79  
TOTAL RETURN     (21.44 )%(d)     5.94 %     17.57 %     (7.57 )%     (1.91 )%(d)
                                         
RATIOS/SUPPLEMENTARY DATA                                        
Net Assets at End of Period (000s omitted)   $ 35,697     $ 47,999     $ 46,340     $ 42,674     $ 46,653  
Ratios to Average Net Assets:                                        
Net investment income (loss)     (0.07 )%(e)     0.77 %     0.91 %     1.35 %     0.91 %(e)
Net expenses     1.50 %(e)     1.50 %     1.50 %     1.50 %     1.50 %(e)
Gross expenses (f)     2.06 %(e)     1.99 %     2.04 %     2.15 %     2.40 %(e)
PORTFOLIO TURNOVER RATE     56 %(d)     144 %     105 %     104 %     112 %(d)

 

 

(a) Commencement of operations.
(b) Calculated based on average shares outstanding during each period.
(c) Less than $0.01 per share.
(d) Not annualized.
(e) Annualized.
(f) Reflects the expense ratio excluding any waivers and/or reimbursements.

 

See Notes to Financial Statements.

8

 

ACUITAS US MICROCAP FUND

SCHEDULE OF INVESTMENTS

DECEMBER 31, 2018

 

 

Shares     Security Description   Value  
Common Stock - 99.0%        
Consumer Discretionary - 9.9%        
  4,500     America's Car-Mart, Inc. (a)   $ 326,025  
  50,110     Aspen Group, Inc. (a)     274,603  
  5,100     BJ's Restaurants, Inc.     257,907  
  17,800     Care.com, Inc. (a)     343,718  
  20,567     Carriage Services, Inc.     318,789  
  15,199     Chuy's Holdings, Inc. (a)     269,630  
  13,104     Conn's, Inc. (a)     247,141  
  17,694     CRA International, Inc.     752,880  
  15,400     Crocs, Inc. (a)     400,092  
  5,700     Genesco, Inc. (a)     252,510  
  26,200     J. Jill, Inc. (a)     139,646  
  14,700     K12, Inc. (a)     364,413  
  7,100     Monarch Casino & Resort, Inc. (a)     270,794  
  14,600     Points International, Ltd. (a)     145,416  
  16,394     QuinStreet, Inc. (a)     266,075  
  102,040     TravelCenters of America, LLC (a)     383,670  
  14,900     Vera Bradley, Inc. (a)     127,693  
  8,832     Winmark Corp.     1,404,288  
  5,800     Winnebago Industries, Inc.     140,418  
  10,000     Zumiez, Inc. (a)     191,700  
              6,877,408  
Consumer Staples - 0.8%        
  20,913     Craft Brew Alliance, Inc. (a)     299,265  
  700     Medifast, Inc.     87,514  
  5,000     Seneca Foods Corp., Class A (a)     141,100  
            527,879  
Energy - 6.3%        
  85,300     Abraxas Petroleum Corp. (a)     92,977  
  5,738     CONSOL Energy, Inc. (a)     181,952  
  120,667     Midstates Petroleum Co., Inc. (a)     906,209  
  49,597     Natural Gas Services Group, Inc. (a)     815,375  
  18,800     North American Construction Group, Ltd.     167,320  
  59,700     Northern Oil and Gas, Inc. (a)     134,922  
  63,060     Par Pacific Holdings, Inc. (a)     894,191  
  4,900     Renewable Energy Group, Inc. (a)     125,930  
  168,898     Rosehill Resources, Inc. (a)     376,642  
  24,700     SunCoke Energy, Inc. (a)     211,185  
  19,443     Unit Corp. (a)     277,646  
  50,900     W&T Offshore, Inc. (a)     209,708  
              4,394,057  
Financial Services - 19.9%        
  25,800     Arbor Realty Trust, Inc. REIT     259,806  
  49,990     B. Riley Financial, Inc.     709,858  
  15,926     Braemar Hotels & Resorts, Inc. REIT     142,219  
  26,340     Bryn Mawr Bank Corp.     906,096  
  14,900     CatchMark Timber Trust, Inc., Class A REIT     105,790  
  10,900     Central Valley Community Bancorp     205,683  
  18,600     Crawford & Co., Class B     167,400  
  2,392     Diamond Hill Investment Group, Inc. (a)     357,484  
  63,690     Donnelley Financial Solutions, Inc. (a)     893,571  
  11,100     Enterprise Financial Services Corp.     417,693  
  16,800     EZCORP, Inc., Class A (a)     129,864  
  5,900     Federal Agricultural Mortgage Corp., Class C     356,596  
  16,814     FedNat Holding Co.     334,935  
  11,600     Financial Institutions, Inc.     298,120  
  17,300     First Defiance Financial Corp.     424,023  
  10,300     First Internet Bancorp     210,532  
  10,900     Flushing Financial Corp.     234,677  
  39,427     Fortress Transportation & Infrastructure Investors, LLC     565,383  

  

Shares     Security Description   Value  
Financial Services - 19.9% (continued)        
  6,400     FS Bancorp, Inc.   $ 274,432  
  30,278     Global Self Storage, Inc. REIT     118,690  
  64,136     Great Elm Capital Corp.     503,468  
  10,879     Health Insurance Innovations, Inc.,Class A (a)     290,796  
  18,850     Horizon Bancorp     297,453  
  15,600     Independent Bank Corp.     327,912  
  8,300     Methode Electronics, Inc.     193,307  
  14,806     Midland States Bancorp, Inc.     330,766  
  20,552     NMI Holdings, Inc., Class A (a)     366,853  
  34,840     Northrim BanCorp, Inc.     1,145,191  
  28,000     OFG Bancorp     460,880  
  7,900     Old Line Bancshares, Inc.     207,928  
  28,900     On Deck Capital, Inc. (a)     170,510  
  12,087     Premier Financial Bancorp, Inc.     180,217  
  46,504     Pzena Investment Management, Inc., Class A     402,260  
  15,454     Ready Capital Corp. REIT     213,729  
  61,900     Syncora Holdings, Ltd. (a)     242,648  
  51,699     Tier REIT, Inc.     1,066,550  
  13,616     TriState Capital Holdings, Inc. (a)     264,967  
              13,778,287  
Health Care - 20.4%        
  3,000     Addus HomeCare Corp. (a)     203,640  
  16,527     Aldeyra Therapeutics, Inc. (a)     137,174  
  9,100     AMAG Pharmaceuticals, Inc. (a)     138,229  
  9,400     AngioDynamics, Inc. (a)     189,222  
  88,291     Antares Pharma, Inc. (a)     240,152  
  44,090     Apollo Endosurgery, Inc. (a)     152,110  
  25,300     Ardelyx, Inc. (a)     45,287  
  15,200     Arrowhead Pharmaceuticals, Inc. (a)     188,784  
  26,978     AtriCure, Inc. (a)     825,527  
  118,882     Avid Bioservices, Inc. (a)     487,416  
  25,900     BioCryst Pharmaceuticals, Inc. (a)     209,013  
  28,900     BioScrip, Inc. (a)     103,173  
  3,100     BioSpecifics Technologies Corp. (a)     187,860  
  17,542     BioTelemetry, Inc. (a)     1,047,608  
  17,200     Calithera Biosciences, Inc. (a)     68,972  
  13,275     Cardiovascular Systems, Inc. (a)     378,205  
  40,942     Castlight Health, Inc., Class B (a)     88,844  
  13,200     Champions Oncology, Inc. (a)     103,092  
  16,000     ChemoCentryx, Inc. (a)     174,560  
  9,900     Concert Pharmaceuticals, Inc. (a)     124,245  
  23,865     Cutera, Inc. (a)     406,182  
  21,448     Dynavax Technologies Corp. (a)     196,249  
  23,184     Electromed, Inc. (a)     118,007  
  51,900     Harvard Bioscience, Inc. (a)     165,042  
  3,300     IntriCon Corp. (a)     87,054  
  47,800     MEI Pharma, Inc. (a)     126,192  
  38,446     NeoGenomics, Inc. (a)     484,804  
  31,811     Nuvectra Corp. (a)     519,792  
  10,050     PetIQ, Inc. (a)     235,874  
  55,352     Pfenex, Inc. (a)     176,573  
  13,820     Psychemedics Corp.     219,323  
  87,676     Quotient, Ltd. (a)     536,577  
  6,700     Ra Pharmaceuticals, Inc. (a)     121,940  
  31,100     RadNet, Inc. (a)     316,287  
  4,682     Repligen Corp. (a)     246,929  
  11,233     Retrophin, Inc. (a)     254,203  
  40,965     SeaSpine Holdings Corp. (a)     747,202  
  30,092     Sientra, Inc. (a)     382,469  
  210,600     SIGA Technologies, Inc. (a)     1,663,740  
  10,785     STAAR Surgical Co. (a)     344,149  

 

See Notes to Financial Statements.

9

 

ACUITAS US MICROCAP FUND

SCHEDULE OF INVESTMENTS

DECEMBER 31, 2018

 

 

Shares     Security Description   Value  
Health Care -20.4% (continued)        
  3,374     Supernus Pharmaceuticals, Inc. (a)   $ 112,084  
  5,500     Surmodics, Inc. (a)     259,930  
  2,400     The Providence Service Corp. (a)     144,048  
  62,208     Veracyte, Inc. (a)     782,577  
  27,919     ViewRay, Inc. (a)     169,468  
  22,895     Viking Therapeutics, Inc. (a)     175,147  
  7,451     XOMA Corp. (a)     94,255  
              14,179,210  
Materials & Processing - 4.9%        
  16,900     American Vanguard Corp.     256,711  
  86,393     Aspen Aerogels, Inc. (a)     184,017  
  81,969     Landec Corp. (a)     970,513  
  10,667     Northern Technologies International Corp.     315,636  
  33,964     Northwest Pipe Co. (a)     791,022  
  7,000     Patrick Industries, Inc. (a)     207,270  
  22,800     PGT Innovations, Inc. (a)     361,380  
  15,200     Verso Corp. (a)     340,480  
              3,427,029  
Producer Durables - 22.4%        
  19,517     Allied Motion Technologies, Inc.     872,215  
  20,700     American Outdoor Brands Corp. (a)     266,202  
  8,100     ArcBest Corp.     277,506  
  25,410     Argan, Inc.     961,514  
  10,400     Atkore International Group, Inc. (a)     206,336  
  6,400     Canadian Solar, Inc. (a)     91,776  
  9,100     Columbus McKinnon Corp.     274,274  
  24,000     Commercial Vehicle Group, Inc. (a)     136,800  
  9,900     Covenant Transportation Group, Inc., Class A (a)     190,080  
  52,188     Energy Recovery, Inc. (a)     351,225  
  13,388     Gaming Partners International Corp. (a)     174,044  
  8,700     Global Brass & Copper Holdings, Inc.     218,805  
  13,020     GP Strategies Corp. (a)     164,182  
  4,897     Graham Corp.     111,847  
  64,822     Great Lakes Dredge & Dock Corp. (a)     429,122  
  31,834     Hamilton Beach Brands Holding Co., Class A     746,826  
  2,153     ICF International, Inc.     139,471  
  68,474     IES Holdings, Inc. (a)     1,064,771  
  60,174     Kornit Digital, Ltd. (a)     1,126,457  
  54,185     Limbach Holdings, Inc. (a)(b)     199,401  
  6,900     Movado Group, Inc.     218,178  
  18,185     Patriot Transportation Holding, Inc. (a)     354,426  
  28,165     Perceptron, Inc. (a)     227,010  
  70,530     Rosetta Stone, Inc. (a)     1,156,692  
  102,957     Sharps Compliance Corp. (a)     337,699  
  7,400     SP Plus Corp. (a)     218,596  
  139,812     Sportsman's Warehouse Holdings, Inc. (a)     612,376  
  19,900     Star Bulk Carriers Corp. (a)     181,886  
  8,800     The Gorman-Rupp Co.     285,208  
  11,411     The Hackett Group, Inc.     182,690  
  18,100     Titan Machinery, Inc. (a)     238,015  
  17,396     Transcat, Inc. (a)     330,872  
  16,304     Tutor Perini Corp. (a)     260,375  
  46,042     UFP Technologies, Inc. (a)     1,383,102  
  9,700     Vectrus, Inc. (a)     209,326  
  12,756     Vishay Precision Group, Inc. (a)     385,614  
  3,500     VSE Corp.     104,685  
  221,205     Yatra Online, Inc. (a)     889,244  
              15,578,848  

  

Shares     Security Description   Value  
Technology - 13.5%        
  46,810     Adesto Technologies Corp. (a)   $ 205,964  
  11,300     Agilysys, Inc. (a)     162,042  
  30,204     Aquantia Corp. (a)     264,889  
  12,222     AstroNova, Inc.     229,163  
  9,100     Attunity, Ltd. (a)     179,088  
  23,920     CalAmp Corp. (a)     311,199  
  11,021     Carbonite, Inc. (a)     278,390  
  42,800     Ceragon Networks, Ltd. (a)     161,784  
  6,562     Electro Scientific Industries, Inc. (a)     196,598  
  12,359     Five9, Inc. (a)     540,336  
  37,786     Ichor Holdings, Ltd. (a)     615,912  
  37,600     Inseego Corp. (a)     156,040  
  17,100     Kimball Electronics, Inc. (a)     264,879  
  59,083     Leaf Group, Ltd. (a)     404,719  
  70,850     Limelight Networks, Inc. (a)     165,789  
  44,971     MiX Telematics, Ltd., ADR     703,796  
  20,700     Net 1 UEPS Technologies, Inc. (a)     97,083  
  29,036     Perficient, Inc. (a)     646,341  
  72,324     Photronics, Inc. (a)     700,096  
  27,786     PlayAGS, Inc. (a)     639,078  
  85,063     Quantenna Communications, Inc. (a)     1,220,654  
  13,000     Rudolph Technologies, Inc. (a)     266,110  
  6,200     ScanSource, Inc. (a)     213,156  
  92,859     Telaria, Inc. (a)     253,505  
  30,600     The Rubicon Project, Inc. (a)     114,138  
  15,500     Unisys Corp. (a)     180,265  
  36,600     Zix Corp. (a)     209,718  
              9,380,732  
Utilities - 0.9%        
  72,500     Atlantic Power Corp. (a)     157,325  
  20,748     Boingo Wireless, Inc. (a)     426,786  
              584,111  
Total Common Stock (Cost $72,801,581)     68,727,561  
                 
Money Market Fund - 0.0%        
  10,134     BlackRock Liquidity Funds FedFund Portfolio, Institutional Shares, 2.27% (c) (Cost $10,134)     10,134  
Investments, at value - 99.0% (Cost $72,811,715)   $ 68,737,695  
Other Assets & Liabilities, Net - 1.0%     717,048  
Net Assets - 100.0%   $ 69,454,743  

 

ADR American Depositary Receipt
LLC Limited Liability Company
REIT Real Estate Investment Trust
(a) Non-income producing security.
(b) Illiquid Security.
(c) Dividend yield changes daily to reflect current market conditions. Rate was the quoted yield as of December 31, 2018.

 

The following is a summary of the inputs used to value the Fund's investments as of December 31, 2018.

 

The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in Note 2 of the accompanying Notes to Financial Statements. 

 

See Notes to Financial Statements.

10

 

ACUITAS US MICROCAP FUND

SCHEDULE OF INVESTMENTS

DECEMBER 31, 2018

 

 

Valuation Inputs   Investments in Securities  
Level 1 - Quoted Prices   $ 68,727,561  
Level 2 - Other Significant Observable Inputs     10,134  
Level 3 - Significant Unobservable Inputs      
Total   $ 68,737,695  

 

The Level 1 value displayed in this table is Common Stock. The Level 2 value displayed in this table is a Money Market Fund. Refer to this Schedule of Investments for a further breakout of each security by industry.

 

PORTFOLIO HOLDINGS      
% of Total Investments      
Consumer Discretionary     10.0 %
Consumer Staples     0.8 %
Energy     6.4 %
Financial Services     20.0 %
Health Care     20.6 %
Materials & Processing     5.0 %
Producer Durables     22.7 %
Technology     13.6 %
Utilities     0.9 %
Money Market Fund     0.0 %
      100.0 %

 

See Notes to Financial Statements.  

11

 

ACUITAS US MICROCAP FUND

STATEMENT OF ASSETS AND LIABILITIES

DECEMBER 31, 2018

 

 

ASSETS      
Investments, at value (Cost $72,811,715)   $ 68,737,695  
Receivables:        
Fund shares sold     70,547  
Investment securities sold     1,669,159  
Dividends     46,247  
Prepaid expenses     11,578  
Total Assets     70,535,226  
LIABILITIES        
Payables:        
Investment securities purchased     111,870  
Fund shares redeemed     355  
Due to custodian     858,012  
Accrued Liabilities:        
Investment adviser fees     74,116  
Trustees’ fees and expenses     35  
Fund services fees     15,509  
Other expenses     20,586  
Total Liabilities     1,080,483  
NET ASSETS   $ 69,454,743  
COMPONENTS OF NET ASSETS        
Paid-in capital   $ 77,705,909  
Distributable earnings     (8,251,166 )
NET ASSETS   $ 69,454,743  
SHARES OF BENEFICIAL INTEREST AT NO PAR VALUE (UNLIMITED SHARES AUTHORIZED)        
Institutional Shares     7,672,906  
NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE*        
Institutional Shares (based on net assets of $69,454,743)   $ 9.05  

 

* Shares redeemed or exchanged within 60 days of purchase are charged a 1.00% redemption fee.

 

See Notes to Financial Statements.

12

 

ACUITAS US MICROCAP FUND

STATEMENT OF OPERATIONS

SIX MONTHS ENDED DECEMBER 31, 2018

 

 

INVESTMENT INCOME      
Dividend income (Net of foreign withholding taxes of $1,540)   $ 460,169  
Total Investment Income     460,169  
EXPENSES        
Investment adviser fees     723,781  
Fund services fees     103,282  
Shareholder service fees     52,661  
Custodian fees     9,502  
Registration fees     9,624  
Professional fees     21,546  
Trustees' fees and expenses     2,371  
Other expenses     18,184  
Total Expenses     940,951  
Fees waived     (62,073 )
Net Expenses     878,878  
NET INVESTMENT LOSS     (418,709 )
NET REALIZED AND UNREALIZED GAIN (LOSS)        
Net realized gain on investments     5,606,322  
Net change in unrealized appreciation (depreciation) on:        
Investments     (24,613,512 )
Foreign currency translations     (9 )
Net change in unrealized appreciation (depreciation)     (24,613,521 )
NET REALIZED AND UNREALIZED LOSS     (19,007,199 )
DECREASE IN NET ASSETS RESULTING FROM OPERATIONS   $ (19,425,908 )

 

See Notes to Financial Statements.

13

 

ACUITAS US MICROCAP FUND

STATEMENTS OF CHANGES IN NET ASSETS

 

 

    For the Six Months Ended December 31, 2018     For the Year Ended June 30, 2018  
OPERATIONS                
Net investment loss   $ (418,709 )   $ (888,475 )
Net realized gain     5,606,322       10,834,970  
Net change in unrealized appreciation (depreciation)     (24,613,521 )     5,420,770  
Increase (Decrease) in Net Assets Resulting from Operations     (19,425,908 )     15,367,265  
                 
DISTRIBUTIONS TO SHAREHOLDERS                
Institutional Shares     (16,940,075 )     (3,399,933 )*
Total Distributions to Shareholders     (16,940,075 )     (3,399,933 )
                 
CAPITAL SHARE TRANSACTIONS                
Sale of shares:                
Institutional Shares     4,773,932       14,489,617  
Reinvestment of distributions:                
Institutional Shares     16,893,918       3,399,574  
Redemption of shares:                
Institutional Shares     (24,187,633 )     (9,207,906 )
Redemption fees:                
Institutional Shares     1,344       219  
Increase (Decrease) in Net Assets from Capital Share Transactions     (2,518,439 )     8,681,504  
Increase (Decrease) in Net Assets     (38,884,422 )     20,648,836  
                 
NET ASSETS                
Beginning of Period     108,339,165       87,690,329  
End of Period   $ 69,454,743     $ 108,339,165 **
                 
SHARE TRANSACTIONS                
Sale of shares:                
Institutional Shares     365,996       1,094,290  
Reinvestment of distributions:                
Institutional Shares     1,799,139       257,543  
Redemption of shares:                
Institutional Shares     (2,135,713 )     (686,187 )
Increase in Shares     29,422       665,646  

 

* Distribution was the result of net realized gains at June 30, 2018.
** Includes accumulated net investment loss of $(47,511) at June 30, 2018. The requirement to disclose the corresponding amount as of December 31, 2018 was eliminated.

 

See Notes to Financial Statements.

14

 

ACUITAS US MICROCAP FUND

FINANCIAL HIGHLIGHTS

 

 

These financial highlights reflect selected data for a share outstanding throughout each period.

 

    For the Six Months Ended December 31,     For the Years Ended June 30,     July 18, 2014 (a) Through June 30,  
    2018     2018     2017     2016     2015  
INSTITUTIONAL SHARES                                        
NET ASSET VALUE, Beginning of Period   $ 14.17     $ 12.57     $ 10.38     $ 11.27     $ 10.00  
INVESTMENT OPERATIONS                                        
Net investment loss (b)     (0.05 )     (0.12 )     (0.09 )     (0.08 )     (0.07 )
Net realized and unrealized gain (loss)     (2.50 )     2.19       2.39       (0.41 )     1.34  
Total from Investment Operations     (2.55 )     2.07       2.30       (0.49 )     1.27  
                                         
DISTRIBUTIONS TO SHAREHOLDERS FROM                                        
Net realized gain     (2.57 )     (0.47 )     (0.11 )     (0.40 )      
Total Distributions to Shareholders     (2.57 )     (0.47 )     (0.11 )     (0.40 )      
                                         
REDEMPTION FEES(b)     0.00 (c)     0.00 (c)     0.00 (c)     0.00 (c)     0.00 (c)
NET ASSET VALUE, End of Period   $ 9.05     $ 14.17     $ 12.57     $ 10.38     $ 11.27  
TOTAL RETURN     (18.67 )%(d)     16.77 %     22.21 %     (4.27 )%     12.70 %(d)
                                         
RATIOS/SUPPLEMENTARY DATA                                        
Net Assets at End of Period (000s omitted)   $ 69,455     $ 108,339     $ 87,690     $ 66,156     $ 37,823  
Ratios to Average Net Assets:                                        
Net investment loss     (0.81 )%(e)     (0.91 )%     (0.78 )%     (0.80 )%     (0.74 )%(e)
Net expenses     1.70 %(e)     1.70 %     1.70 %     1.70 %     1.70 %(e)
Gross expenses (f)     1.82 %(e)     1.80 %     1.86 %     2.04 %     2.37 %(e)
PORTFOLIO TURNOVER RATE     106 %(d)     48 %     50 %     52 %     58 %(d)

 

 

(a) Commencement of operations.
(b) Calculated based on average shares outstanding during each period.
(c) Less than $0.01 per share.
(d) Not annualized.
(e) Annualized.
(f) Reflects the expense ratio excluding any waivers and/or reimbursements.

 

See Notes to Financial Statements.

15

 

ACUITAS FUNDS

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018

 

 

Note 1. Organization

 

Acuitas International Small Cap Fund and Acuitas US Microcap Fund (individually, a “Fund” and collectively, the “Funds”) are diversified portfolios of Forum Funds II (the “Trust”). The Trust is a Delaware statutory trust that is registered as an open-end, management investment company under the Investment Company Act of 1940, as amended (the “Act”). Under its Trust Instrument, the Trust is authorized to issue an unlimited number of each Fund’s shares of beneficial interest without par value. Each Fund currently offers two classes of shares: Institutional Shares and Investors Shares. As of December 31, 2018, Investor Shares had not commenced operations. Each Fund seeks capital appreciation. Each Fund commenced operations on July 18, 2014.

 

Note 2. Summary of Significant Accounting Policies

 

The Funds are investment companies and follow accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, “Financial Services – Investment Companies.” These financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of increases and decreases in net assets from operations during the fiscal period. Actual amounts could differ from those estimates. The following summarizes the significant accounting policies of each Fund:

 

Security Valuation – Securities are valued at market prices using the last quoted trade or official closing price from the principal exchange where the security is traded, as provided by independent pricing services on each Fund business day. In the absence of a last trade, securities are valued at the mean of the last bid and ask price provided by the pricing service. Forward currency contracts are generally valued based on interpolation of forward curve data points obtained from major banking institutions that deal in foreign currencies and currency dealers. Exchange-traded options for which the last quoted sale price is outside the closing bid and ask price, will be valued at the mean of the closing bid and ask price. Shares of non-exchange traded open-end mutual funds are valued at net asset value (“NAV”). Short-term investments that mature in sixty days or less may be valued at amortized cost.

 

Each Fund values its investments at fair value pursuant to procedures adopted by the Trust’s Board of Trustees (the“Board”) if (1) market quotations are not readily available or (2) the Adviser, as defined in Note 3, believes that the values available are unreliable. The Trust’s Valuation Committee, as defined in each Fund’s registration statement, performs certain functions as they relate to the administration and oversight of each Fund’s valuation procedures. Under these procedures, the Valuation Committee convenes on a regular and ad hoc basis to review such investments and considers a number of factors, including valuation methodologies and significant unobservable inputs, when arriving at fair value.

 

The Valuation Committee may work with the Adviser to provide valuation inputs. In determining fair valuations, inputs may include market-based analytics that may consider related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant investment information. Adviser inputs may include an income-based approach in which the anticipated future cash flows of the investment are discounted in determining fair value. Discounts may also be applied based on the nature or duration of any restrictions on the disposition of the investments. The Valuation Committee performs regular reviews of valuation methodologies, key inputs and assumptions, disposition analysis and market activity.

 

Fair valuation is based on subjective factors and, as a result, the fair value price of an investment may differ from the security’s market price and may not be the price at which the asset may be sold. Fair valuation could result in a different NAV than a NAV determined by using market quotes.

 

GAAP has a three-tier fair value hierarchy. The basis of the tiers is dependent upon the various “inputs” used to determine the value of each Fund’s investments. These inputs are summarized in the three broad levels listed below:

 

Level 1 - Quoted prices in active markets for identical assets and liabilities.

 

Level 2 - Prices determined using significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Short-term securities with maturities of sixty days or less are valued at amortized cost, which approximates market value, and are categorized as Level 2 in the hierarchy. Municipal securities, long-term U.S. government obligations and corporate debt securities are valued in accordance with the evaluated price supplied by the pricing service and

16

 

ACUITAS FUNDS

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018

 

 

generally categorized as Level 2 in the hierarchy. Other securities that are categorized as Level 2 in the hierarchy include, but are not limited to, warrants that do not trade on an exchange, securities valued at the mean between the last reported bid and ask quotation and international equity securities valued by an independent third party with adjustments for changes in value between the time of the securities’ respective local market closes and the close of the U.S. market.   

 

Level 3 - Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

 

The aggregate value by input level, as of December 31, 2018, for each Fund’s investments is included at the end of each Fund’s Schedule of Investments.

 

Security Transactions, Investment Income and Realized Gain and Loss – Investment transactions are accounted for on the trade date. Dividend income is recorded on the ex-dividend date. Foreign dividend income is recorded on the ex-dividend date or as soon as possible after determining the existence of a dividend declaration after exercising reasonable due diligence. Income and capital gains on some foreign securities may be subject to foreign withholding taxes, which are accrued as applicable. Interest income is recorded on an accrual basis. Premium is amortized and discount is accreted using the effective interest method. Identified cost of investments sold is used to determine the gain and loss for both financial statement and federal income tax purposes.

 

Foreign Currency Translations – Foreign currency amounts are translated into U.S. dollars as follows: (1) assets and liabilities at the rate of exchange at the end of the respective period; and (2) purchases and sales of securities and income and expenses at the rate of exchange prevailing on the dates of such transactions. The portion of the results of operations arising from changes in the exchange rates and the portion due to fluctuations arising from changes in the market prices of securities are not isolated. Such fluctuations are included with the net realized and unrealized gain or loss on investments.

 

Foreign Currency Transactions – The Acuitas International Small Cap Fund may enter into transactions to purchase or sell foreign currency contracts and options on foreign currency. Forward currency contracts are agreements to exchange one currency for another at a future date and at a specified price. A fund may use forward currency contracts to facilitate transactions in foreign securities, to manage a fund’s foreign currency exposure and to protect the U.S. dollar value of its underlying portfolio securities against the effect of possible adverse movements in foreign exchange rates. These contracts are intrinsically valued daily based on forward rates, and a fund’s net equity therein, representing unrealized gain or loss on the contracts as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward rates at the reporting date, is recorded as a component of NAV. These instruments involve market risk, credit risk, or both kinds of risks, in excess of the amount recognized in the Statements of Assets and Liabilities. Risks arise from the possible inability of counterparties to meet the terms of their contracts and from movement in currency and securities values and interest rates. Due to the risks associated with these transactions, a fund could incur losses up to the entire contract amount, which may exceed the net unrealized value included in its NAV.

 

Distributions to Shareholders – Each Fund declares any dividends from net investment income and pays them annually. Any net capital gains realized by the Funds are distributed at least annually. Distributions to shareholders are recorded on the ex-dividend date. Distributions are based on amounts calculated in accordance with applicable federal income tax regulations, which may differ from GAAP. These differences are due primarily to differing treatments of income and gain on various investment securities held by each Fund, timing differences and differing characterizations of distributions made by each Fund.

 

Federal Taxes – Each Fund intends to continue to qualify each year as a regulated investment company under Subchapter M of Chapter 1, Subtitle A, of the Internal Revenue Code of 1986, as amended (“Code”), and to distribute all of their taxable income to shareholders. In addition, by distributing in each calendar year substantially all of their net investment income and capital gains, if any, the Funds will not be subject to a federal excise tax. Therefore, no federal income or excise tax provision is required. Each Fund files a U.S. federal income and excise tax return as required. Each Fund’s federal income tax returns are subject to examination by the Internal Revenue Service for a period of three fiscal years after they are filed. As of December 31, 2018, there are no uncertain tax positions that would require financial statement recognition, de-recognition or disclosure.

 

Income and Expense Allocation – The Trust accounts separately for the assets, liabilities and operations of each of its investment portfolios. Expenses that are directly attributable to more than one investment portfolio are allocated among the respective investment portfolios in an equitable manner.

17

 

ACUITAS FUNDS

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018

 

 

Redemption Fees – A shareholder who redeems or exchanges shares within 60 days of purchase will incur a redemption fee of 1.00% of the current NAV of shares redeemed or exchanged, subject to certain limitations. The fee is charged for the benefit of the remaining shareholders and will be paid to each Fund to help offset transaction costs. The fee is accounted for as an addition to paid-in capital. Each Fund reserves the right to modify the terms of or terminate the fee at any time. There are limited exceptions to the imposition of the redemption fee. Redemption fees incurred for the Funds, if any, are reflected on the Statements of Changes in Net Assets.

 

Commitments and Contingencies – In the normal course of business, each Fund enters into contracts that provide general indemnifications by each Fund to the counterparty to the contract. Each Fund’s maximum exposure under these arrangements is dependent on future claims that may be made against each Fund and, therefore, cannot be estimated; however, based on experience, the risk of loss from such claims is considered remote. Each Fund has determined that none of these arrangements requires disclosure on each Fund’s balance sheet.

 

Note 3. Fees and Expenses

 

Investment Adviser – Acuitas Investments, LLC (the “Adviser”) is the investment adviser to the Funds. Pursuant to an investment advisory agreement, the Adviser receives an advisory fee, payable monthly, at an annual rate of 1.20% and 1.40% of the average daily net assets of Acuitas International Small Cap Fund and Acuitas US Microcap Fund, respectively.

 

Each sub-advisory fee, calculated as a percentage of each Fund’s average daily net assets managed by each subadviser, is paid by the Adviser.

 

Distribution – Foreside Fund Services, LLC serves as each Fund’s distributor (the “Distributor”). The Funds have adopted a Distribution Plan (the “Plan”) for Investor Shares in accordance with Rule 12b-1 of the Act. Under the Plan, the Funds pay the Distributor and/or any other entity as authorized by the Board a fee of up to 0.25% of the average daily net assets of Investor Shares. The Distributor is not affiliated with the Adviser or Atlantic Fund Administration, LLC (d/b/a Atlantic Fund Services) (“Atlantic”) or their affiliates.

 

Other Service Providers – Atlantic provides fund accounting, fund administration, compliance and transfer agency services to each Fund. The fees related to these services are included in Fund services fees within the Statements of Operations. Atlantic also provides certain shareholder report production and EDGAR conversion and filing services. Pursuant to an Atlantic services agreement, each Fund pays Atlantic customary fees for its services. Atlantic provides a Principal Executive Officer, a Principal Financial Officer, a Chief Compliance Officer and an Anti-Money Laundering Officer to each Fund, as well as certain additional compliance support functions.

 

Trustees and Officers – The Trust pays each Independent Trustee an annual fee of $16,000 ($21,000 for the Chairman) for service to the Trust. The Independent Trustees and Chairman may receive additional fees for special Board meetings. The Independent Trustees are also reimbursed for all reasonable out-of-pocket expenses incurred in connection with their duties as Trustees, including travel and related expenses incurred in attending Board meetings. The amount of Independent Trustees’ fees attributable to each Fund is disclosed in the Statements of Operations. Certain officers of the Trust are also officers or employees of the above named service providers, and during their terms of office received no compensation from each Fund.

 

Note 4. Expense Reimbursement and Fees Waived

 

The Adviser has contractually agreed to waive its fee and/or reimburse expenses to limit total annual fund operating expenses (excluding all taxes, interest, portfolio transaction expenses, acquired fund fees and expenses, proxy expenses and extraordinary expenses) of Institutional Shares to 1.50% and Investor Shares to 1.75% through November 1, 2019, for Acuitas International Small Cap Fund. The Adviser has also contractually agreed to waive its fees and/or reimburse expenses to limit total annual operating expenses (excluding all taxes, interest, portfolio transaction expenses, acquired fund fees and expenses, proxy expenses and extraordinary expenses) of Institutional Shares to 1.70% and Investor Shares to 1.95% through November 1, 2019, for Acuitas US Microcap Fund. Other fund service providers have voluntarily agreed to waive a portion of their fees. Voluntary fee waivers may be reduced or eliminated at any time. For the period ended December 31, 2018, the fees waived and/or reimbursed expenses were as follows:

18

 

ACUITAS FUNDS

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018

 

 

    Investment Adviser Fees Waived     Other Waivers     Total Fees Waived and Expenses Reimbursed  
Acuitas International Small Cap Fund   $ 116,141   $ 6,769   $ 122,910  
Acuitas US Microcap Fund     52,413       9,660       62,073  

 

The Adviser may be reimbursed by each Fund for fees waived and expenses reimbursed by the Adviser pursuant to the Expense Cap if such payment is approved by the Board, made within three years of the fee waiver or expense reimbursement, and does not cause the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement to exceed the lesser of (i) the then-current expense cap, or (ii) the expense cap in place at the time the fees/expenses were waived/reimbursed. As of December 31, 2018, $690,992 and $300,182 are subject to recapture by the Adviser for the Acuitas International Small Cap Fund and the Acuitas US Microcap Fund, respectively. Other waivers are not eligible for recoupment.

 

Note 5. Security Transactions

 

The cost of purchases and proceeds from sales of investment securities (including maturities), other than short-term investments during the period ended December 31, 2018, were as follows:

 

    Purchases     Sales  
Acuitas International Small Cap Fund   $ 23,767,567   $ 25,941,226  
Acuitas US Microcap Fund     104,887,896       122,578,534  

 

Note 6. Federal Income Tax

 

As of December 31, 2018, the cost for federal income tax purposes is substantially the same for financial statement purposes and net unrealized appreciation (depreciation) consists of:

 

    Gross Unrealized Appreciation     Gross Unrealized Depreciation     Net Unrealized Depreciation  
Acuitas International Small Cap Fund   $ 936,452   $ (6,418,463 )   $ (5,482,011 )
Acuitas US Microcap Fund     7,525,574       (11,599,594 )     (4,074,020 )

 

As of June 30, 2018, distributable earnings on a tax basis were as follows:

 

    Undistributed Ordinary Income     Undistributed Long-Term Gain     Capital and Other Losses     Unrealized Appreciation     Total  
Acuitas International Small Cap Fund   $ 532,926     $     $ (301,763 )   $ 1,307,111     $ 1,538,274  
Acuitas US Microcap Fund     335,697       7,586,662             20,192,458       28,114,817  

 

The difference between components of distributable earnings on a tax basis and the amounts reflected in the Statements of Assets and Liabilities are primarily due to currency contracts, investments in passive foreign investment companies (“PFIC”) and wash sales in the Acuitas International Small Cap Fund and investments in PFICs, equity return of capital, partnerships, real estate investment trusts and wash sales in the Acuitas US Microcap Fund.

 

As of June 30, 2018, the Acuitas International Small Cap Fund and Acuitas US Microcap Fund had $301,763 and $0, respectively, of available short-term capital loss carryforwards and $0 and $0, respectively of available long-term capital loss carryforwards that have no expiration date.

 

Note 7. Recent Accounting Pronouncements

 

In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2018-13 “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement” (“ASU 2018-13”) which includes amendments intended to improve the effectiveness of disclosures in the notes to financial statements. For example, ASU 2018-13 includes additional disclosures regarding the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and clarifications to the narrative description of measurement uncertainty disclosures. ASU 2018-13 is effective for interim and annual periods beginning after December 15, 2019. Early adoption is permitted and the Funds have adopted ASU 2018-13 within these financial statements.

19

 

ACUITAS FUNDS

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2018

 

 

In September 2018, the Securities and Exchange Commission released Final Rule 33-10532 captioned “Disclosure Update and Simplification,” which includes: (i) an amendment to require presentation of the total, rather than the components, of distributable earnings on the Statement of Assets and Liabilities; and (ii) an amendment to require presentation of the total, rather than the components, of distributions to shareholders, except for tax return of capital distributions, on the Statement of Changes in Net Assets. The amendments also removed the requirement for parenthetical disclosure of undistributed net investment income on the Statement of Changes in Net Assets. These changes were effective November 5, 2018. These amendments are reflected in the Funds' financial statements for the period ended December 31, 2018.

 

Note 8. Subsequent Events

 

Subsequent events occurring after the date of this report through the date these financial statements were issued have been evaluated for potential impact, and each Fund has had no such events.

20

 

ACUITAS FUNDS

ADDITIONAL INFORMATION

DECEMBER 31, 2018

 

 

Investment Advisory Agreement Approval

 

Acuitas International Small Cap Fund (the “Fund”) – Cedar Street Asset Management, LLC.

 

At the September 13, 2018 Board meeting (the “September meeting”), the Board, including the Independent Trustees, met in person and considered the approval of a new investment subadvisory agreement between the Adviser and Cedar Street Asset Management (“CSAM,” or the “Subadviser”) pertaining to the Fund (the “Subadvisory Agreement”). In preparation for its deliberations at the September meeting, the Board requested and reviewed written responses from the Subadviser to a due diligence questionnaire circulated on the Board's behalf concerning the Subadviser’s personnel, operations, financial condition, performance, compensation, and services to be provided to a portion of the Fund (the “Sleeve”) by the Subadviser. The Board also discussed the materials with Fund/Trustee Counsel and, as necessary, with the Trust's administrator, Atlantic Fund Services. During its deliberations, the Board received an oral presentation from the Adviser and Subadviser and was assisted by the advice of Fund/Trustee Counsel. At the December 6, 2018 Board meeting, the Board, including the Independent Trustees, approved certain revisions to the Subadvisory Agreement.

 

Nature, Extent and Quality of Services

 

The Board received a presentation from senior representatives of the Subadviser and the Adviser and discussed the Subadviser’s personnel, operations and financial condition. In this context, the Board considered the adequacy of the Subadviser’s resources and the quality of services to be provided by the Subadviser under the Subadvisory Agreement. The Board reviewed information regarding the experience, qualifications and professional background of the portfolio managers and other personnel at the Subadviser who would have responsibility for the Sleeve. The Board considered the investment philosophy and decision-making processes of those professionals and the capability and integrity of the Subadviser’s senior management and staff. The Board also evaluated the anticipated quality of the Subadviser’s services with respect to regulatory compliance and compliance with client investment policies and restrictions. In addition, the Board took into consideration the Adviser’s recommendation with respect to the Subadviser. The Board noted the Subadviser’s representation that it is financially stable and able to provide investment advisory services to the Fund. The Board concluded that, overall, it was satisfied with the nature, extent, and quality of services to be provided to the Fund by the Subadviser under the Subadvisory Agreement.

 

Cost of Services and Profitability

 

The Board noted that the Adviser, and not the Fund, was responsible for paying the subadvisory fees due under the Subadvisory Agreement. The Board considered information regarding the costs of services provided or profits to be realized by the Subadviser from its relationship with the Fund, noting the arm’s-length nature of the relationship between the Adviser and the Subadviser with respect to the negotiation of the subadvisory fee rate that would apply. The Board concluded that the Subadviser’s profitability was not a material factor in determining whether or not to approve the Subadvisory Agreement.

 

Performance

 

Recognizing that the Subadviser was new and had not yet managed any portion of the Fund, the Board evaluated the Adviser’s assessment of the Subadviser’s historical performance in managing a strategy similar to the one to be employed for the Sleeve, noting the Adviser had expressed satisfaction with the performance of the Subadviser and that the Adviser had recommended the approval of the Subadvisory Agreement. Based on the Adviser’s evaluation of the Subadviser’s performance and other relevant facts and circumstances, the Board concluded that the Subadviser’s management of the Sleeve could benefit the Fund and its shareholders.

 

Compensation

 

The Board reviewed the Subadviser’s proposed compensation for providing subadvisory services to the Fund and noted that, although the subadvisory fee received by the Subadviser would be higher than the subadvisory fee received by DRZ, the total advisory fee paid by the Fund would not change because the subadvisory fees are paid by the Adviser and not the Fund. The Board considered information regarding the proposed compensation to be paid to the Subadviser as a result of its relationship with the Fund, and also noted the arm’s-length nature of the relationship between the Adviser and the Subadviser with respect to the negotiation of the subadvisory fee rate that would apply to the Subadviser. As a result, the Board concluded that the proposed compensation for providing subadvisory services to the Fund was not a material factor in considering the approval of the Subadvisory Agreement.

21

 

ACUITAS FUNDS

ADDITIONAL INFORMATION

DECEMBER 31, 2018

 

 

Economies of Scale

 

The Board considered whether the Fund would benefit from any economies of scale with respect to the Subadvisory Agreement. The Board noted that because the Adviser, and not the Fund, pays the subadvisory fee, shareholders would not benefit from any economies of scale in the form of breakpoints in the subadvisory fee rate. Based on the foregoing information and other materials presented, the Board concluded that economies of scale were not a material factor in approving the Subadvisory Agreement.

 

Other Benefits

 

The Board noted the Subadviser’s representation that, aside from its contractual subadvisory fees, it does not benefit in a material way from its relationship with the Fund. As a result, other benefits accrued by the Subadviser were not a material factor in approving the Subadvisory Agreement.

 

Conclusion

 

The Board did not identify any single factor as being of paramount importance, and different Trustees may have given different weight to different factors; however, in light of the fact that the Fund is a multi-manager Fund for which the Adviser identifies subadvisers whose strategies it seeks to combine to achieve the Fund’s investment objective, the Board gave significant weight to the Adviser’s recommendation that the Subadviser be appointed as a subadviser to the Fund and to the Adviser’s representation that the appointment of the Subadviser would positively contribute to the Adviser successfully executing the overall strategy of the Fund. Based on its review, including consideration of each of the factors referenced above, the Board (including a majority of the Independent Trustees) determined, in the exercise of its reasonable business judgment, that the subadvisory arrangement, as outlined in the Subadvisory Agreement, was fair and reasonable in light of the services to be performed, expenses to be incurred by the Fund and such other matters as the Board considered relevant.

 

In February 2019, the Adviser and CSAM agreed to terminate the Subadvisery Agreement before CSAM began managing any of the Fund’s assets.

 

Acuitas International Small Cap Fund (the “Fund”) – Lazard Asset Managements, LLC.

 

At the September 13, 2018 Board meeting (the “September meeting”), the Board, including the Independent Trustees, met in person and considered the approval of a new investment subadvisory agreement between the Adviser and Lazard Asset Management (“Lazard,” or the “Subadviser”) pertaining to the Fund (the “Subadvisory Agreement”). In preparation for its deliberations, the Board requested and reviewed written responses from the Subadviser to a due diligence questionnaire circulated on the Board's behalf concerning the Subadviser’s personnel, operations, financial condition, performance, compensation, and services to be provided to a portion of the Fund (the “Sleeve”) by the Subadviser. The Board also discussed the materials with Fund/Trustee Counsel and, as necessary, with the Trust's administrator, Atlantic Fund Services. During its deliberations, the Board received an oral presentation from the Adviser and Subadviser and was assisted by the advice of Fund/Trustee Counsel.

 

Nature, Extent and Quality of Services

 

The Board received a presentation from senior representatives of the Subadviser and the Adviser and discussed the Subadviser’s personnel, operations and financial condition. In this context, the Board considered the adequacy of the Subadviser’s resources and the quality of services to be provided by the Subadviser under the Subadvisory Agreement. The Board reviewed information regarding the experience, qualifications and professional background of the portfolio managers and other personnel at the Subadviser who would have responsibility for the Sleeve. The Board considered the investment philosophy and decision-making processes of those professionals and the capability and integrity of the Subadviser’s senior management and staff. The Board also evaluated the anticipated quality of the Subadviser’s services with respect to regulatory compliance and compliance with client investment policies and restrictions. In addition, the Board took into consideration the Adviser’s recommendation with respect to the Subadviser. The Board noted the Subadviser’s representation that it is financially stable and able to provide investment advisory services to the Fund. The Board concluded that, overall, it was satisfied with the nature, extent, and quality of services to be provided to the Fund by the Subadviser under the Subadvisory Agreement.

22

 

ACUITAS FUNDS

ADDITIONAL INFORMATION

DECEMBER 31, 2018

 

 

Costs of Services and Profitability

 

The Board noted that the Adviser, and not the Fund, was responsible for paying the subadvisory fees due under the Subadvisory Agreement. The Board considered information regarding the costs of services provided or profits to be realized by the Subadviser from its relationship with the Fund, noting the arm’s-length nature of the relationship between the Adviser and the Subadviser with respect to the negotiation of the subadvisory fee rate that would apply. The Board concluded that the Subadviser’s profitability was not a material factor in determining whether or not to approve the Subadvisory Agreement.

 

Performance

 

Recognizing that the Subadviser was new and had not yet managed any portion of the Fund, the Board evaluated the Adviser’s assessment of the Subadviser’s historical performance in managing a strategy similar to the one to be employed for the Sleeve, noting the Adviser had expressed satisfaction with the performance of the Subadviser and that the Adviser had recommended the approval of the Subadvisory Agreement. Based on the Adviser’s evaluation of the Subadviser’s performance and other relevant facts and circumstances, the Board concluded that the Subadviser’s management of the Sleeve could benefit the Fund and its shareholders.

 

Compensation

 

The Board reviewed the Subadviser’s proposed compensation for providing subadvisory services to the Fund and noted that, although the subadvisory fee received by the Subadviser would be higher than the subadvisory fee received by DRZ, the total advisory fee paid by the Fund would not change because the subadvisory fees are paid by the Adviser and not the Fund. The Board considered information regarding the proposed compensation to be paid to the Subadviser as a result of its relationship with the Fund, and also noted the arm’s-length nature of the relationship between the Adviser and the Subadviser with respect to the negotiation of the subadvisory fee rate that would apply to the Subadviser. As a result, the Board concluded that the proposed compensation for providing subadvisory services to the Fund was not a material factor in considering the approval of the Subadvisory Agreement.

 

Economies of Scale

 

The Board considered whether the Fund would benefit from any economies of scale with respect to the Subadvisory Agreement. The Board noted that because the Adviser, and not the Fund, pays the subadvisory fee, shareholders would not benefit from any economies of scale in the form of breakpoints in the subadvisory fee rate. Based on the foregoing information and other materials presented, the Board concluded that economies of scale were not a material factor in approving the Subadvisory Agreement.

 

Other Benefits

 

The Board noted the Subadviser’s representation that, aside from its contractual subadvisory fees, it does not benefit in a material way from its relationship with the Fund. As a result, other benefits accrued by the Subadviser were not a material factor in approving the Subadvisory Agreement.

 

Conclusion

 

The Board did not identify any single factor as being of paramount importance, and different Trustees may have given different weight to different factors; however, in light of the fact that the Fund is a multi-manager Fund for which the Adviser identifies subadvisers whose strategies it seeks to combine to achieve the Fund’s investment objective, the Board gave significant weight to the Adviser’s recommendation that the Subadviser be appointed as a subadviser to the Fund and to the Adviser’s representation that the appointment of the Subadviser would positively contribute to the Adviser successfully executing the overall strategy of the Fund. Based on its review, including consideration of each of the factors referenced above, the Board (including a majority of the Independent Trustees) determined, in the exercise of its reasonable business judgment, that the subadvisory arrangement, as outlined in the Subadvisory Agreement, was fair and reasonable in light of the services to be performed, expenses to be incurred by the Fund and such other matters as the Board considered relevant.

 

In February 2019, the Adviser and Lazard agreed to terminate the Subadvisery Agreement before Lazard began managing any of the Fund’s assets.

23

 

ACUITAS FUNDS

ADDITIONAL INFORMATION

DECEMBER 31, 2018

 

 

Acuitas International Small Cap Fund (the “Fund”) – Pzena Investment Management

 

At the December 6, 2018 Board meeting (the “December meeting”), the Board, including the Independent Trustees, met in person and considered the approval of a new investment subadvisory agreement between Acuitas Investments, LLC (“Adviser”) and Pzena Investment Management (“Pzena,” or the “Subadviser”) pertaining to the Fund (the “Subadvisory Agreement”). The Subadvisory Agreement was being considered in connection with the anticipated termination of a subadvisory agreement between the Algert Global, LLC (“Algert”) due to the change in Algert’s investment philosophy and characteristics in managing a portion of the Fund (the “Sleeve”). In preparation for its deliberations, the Board requested and reviewed written responses from the Subadviser to a due diligence questionnaire circulated on the Board's behalf concerning the Subadviser’s personnel, operations, financial condition, performance, compensation, and services to be provided to the Sleeve by the Subadviser. The Board also discussed the materials with Fund/Trustee Counsel and, as necessary, with the Trust's administrator, Atlantic Fund Services. During its deliberations, the Board received an oral presentation from the Adviser and Subadviser and was assisted by the advice of Fund/Trustee Counsel.

 

Nature, Extent and Quality of Services

 

The Board received a presentation from senior representatives of the Subadviser and the Adviser and discussed the Subadviser’s personnel, operations and financial condition. In this context, the Board considered the adequacy of the Subadviser’s resources and the quality of services to be provided by the Subadviser under the Subadvisory Agreement. The Board reviewed information regarding the experience, qualifications and professional background of the portfolio managers and other personnel at the Subadviser who would have responsibility for the Sleeve. The Board considered the investment philosophy and decision-making processes of those professionals and the capability and integrity of the Subadviser’s senior management and staff. The Board also evaluated the anticipated quality of the Subadviser’s services with respect to regulatory compliance and compliance with client investment policies and restrictions. In addition, the Board took into consideration the Adviser’s recommendation with respect to the Subadviser. The Board noted the Subadviser’s representation that it is financially stable and able to provide investment advisory services to the Fund. The Board concluded that, overall, it was satisfied with the nature, extent, and quality of services to be provided to the Fund by the Subadviser under the Subadvisory Agreement.

 

Costs of Services and Profitability

 

The Board noted that the Adviser, and not the Fund, was responsible for paying the subadvisory fees due under the Subadvisory Agreement. The Board considered information regarding the costs of services provided or profits to be realized by the Subadviser from its relationship with the Fund, noting the arm’s-length nature of the relationship between the Adviser and the Subadviser with respect to the negotiation of the subadvisory fee rate that would apply. The Board concluded that the Subadviser’s profitability was not a material factor in determining whether or not to approve the Subadvisory Agreement.

 

Performance

 

Recognizing that the Subadviser was new and had not yet managed any portion of the Fund, the Board evaluated the Adviser’s assessment of the Subadviser’s historical performance in managing a strategy similar to the one to be employed for the Sleeve, noting the Adviser had expressed satisfaction with the performance of the Subadviser and that the Adviser had recommended the approval of the Subadvisory Agreement. Based on the Adviser’s evaluation of the Subadviser’s performance and other relevant facts and circumstances, the Board concluded that the Subadviser’s management of the Sleeve could benefit the Fund and its shareholders.

 

Compensation

 

The Board reviewed the Subadviser’s proposed compensation for providing subadvisory services to the Fund and noted that, although the subadvisory fee received by the Subadviser would be higher than the subadvisory fee received by Algert, the total advisory fee paid by the Fund would not change because the subadvisory fees are paid by the Adviser and not the Fund. The Board considered information regarding the proposed compensation to be paid to the Subadviser as a result of its relationship with the Fund, and also noted the arm’s-length nature of the relationship between the Adviser and the Subadviser with respect to the negotiation of the subadvisory fee rate that would apply to the Subadviser. As a result, the Board concluded that the proposed compensation for providing subadvisory services to the Fund was not a material factor in considering the approval of the Subadvisory Agreement.

24

 

ACUITAS FUNDS

ADDITIONAL INFORMATION

DECEMBER 31, 2018

 

 

Economies of Scale

 

The Board considered whether the Fund would benefit from any economies of scale with respect to the Subadvisory Agreement. The Board noted that because the Adviser, and not the Fund, pays the subadvisory fee, shareholders would not benefit from any economies of scale in the form of breakpoints in the subadvisory fee rate. Based on the foregoing information and other materials presented, the Board concluded that economies of scale were not a material factor in approving the Subadvisory Agreement.

 

Other Benefits

 

The Board noted the Subadviser’s representation that, aside from its contractual subadvisory fees, it does not benefit in a material way from its relationship with the Fund. As a result, other benefits accrued by the Subadviser were not a material factor in approving the Subadvisory Agreement.

 

Conclusion

 

The Board did not identify any single factor as being of paramount importance, and different Trustees may have given different weight to different factors; however, in light of the fact that the Fund is a multi-manager Fund for which the Adviser identifies subadvisers whose strategies it seeks to combine to achieve the Fund’s investment objective, the Board gave significant weight to the Adviser’s recommendation that the Subadviser be appointed as a subadviser to the Fund and to the Adviser’s representation that the appointment of the Subadviser would positively contribute to the Adviser successfully executing the overall strategy of the Fund. Based on its review, including consideration of each of the factors referenced above, the Board (including a majority of the Independent Trustees) determined, in the exercise of its reasonable business judgment, that the subadvisory arrangement, as outlined in the Subadvisory Agreement, was fair and reasonable in light of the services to be performed, expenses to be incurred by the Fund and such other matters as the Board considered relevant.

 

In February 2019, the Adviser and Pzena agreed to terminate the Subadvisery Agreement before Pzena began managing any of the Fund’s assets.

 

Proxy Voting Information

 

A description of the policies and procedures that each Fund uses to determine how to vote proxies relating to securities held in each Fund’s portfolio is available, without charge and upon request, by calling (844) 805-5628 and on the U.S. Securities and Exchange Commission's (the "SEC") website at www.sec.gov. Each Fund’s proxy voting record for the most recent twelve-month period ended June 30 is available, without charge and upon request, by calling (844) 805-5628 and on the SEC’s website at www.sec.gov.

 

Availability of Quarterly Portfolio Schedules

 

Each Fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. These filings are available, without charge and upon request on the SEC’s website at www.sec.gov or may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling (800) SEC-0330.

 

Shareholder Expense Example

 

As a shareholder of the Funds, you incur two types of costs: (1) transaction costs, including redemption fees, and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees (for Investor Shares only) and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds, and to compare these costs with the ongoing costs of investing in other mutual funds.

 

The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from July 1, 2018 through December 31, 2018.

 

Actual Expenses – The first line of the table below provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during the period.

25

 

ACUITAS FUNDS

ADDITIONAL INFORMATION

DECEMBER 31, 2018

 

  

Hypothetical Example for Comparison Purposes – The second line of the table below provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not each Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in each Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.

 

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as redemption fees. Therefore, the second line of the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

    Beginning Account Value July 1, 2018     Ending Account Value December 31, 2018     Expenses Paid During Period*     Annualized Expense Ratio*  
Acuitas International Small Cap Fund                                
Actual   $ 1,000.00     $ 785.58     $ 6.75       1.50 %
Hypothetical (5% return before expenses)   $ 1,000.00     $ 1,017.64     $ 7.63       1.50 %
Acuitas US Microcap Fund                                
Actual   $ 1,000.00     $ 813.34     $ 7.77       1.70 %
Hypothetical (5% return before expenses)   $ 1,000.00     $ 1,016.64     $ 8.64       1.70 %

 

* Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half-year (184) divided by 365 to reflect the half-year period.
26

  

FOR MORE INFORMATION

 

Investment Adviser

Acuitas Investments, LLC
520 Pike Street, Suite 1221
Seattle, WA 98101

www.acuitasinvestments.com

 

Transfer Agent

Atlantic Fund Services, LLC

P.O. Box 588

Portland, ME 04112

www.atlanticfundservices.com

 

Distributor

Foreside Fund Services, LLC

Three Canal Plaza, Suite 100

Portland, ME 04101

www.foreside.com

 

Acuitas International Small Cap Fund

Acuitas US Microcap Fund

P.O. Box 588

Portland, ME 04112

(844) 805-5628

 

This report is submitted for the general information of the shareholders of the Funds. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus, which includes information regarding the Funds’ risks, objectives, fees and expenses, experience of its management, and other information. 

 

220-SAR-1218



ITEM 2. CODE OF ETHICS.
Not applicable.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not applicable.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable

ITEM 6. INVESTMENTS.
(a)
Included as part of report to shareholders under Item 1.
(b)
Not applicable.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.
Not applicable.

ITEM 8.  PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
The Registrant does not accept nominees to the board of trustees from shareholders.

ITEM 11. CONTROLS AND PROCEDURES
(a) The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) are effective, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as of a date within 90 days of the filing date of this report.
 (b) There were no changes in the Registrant’s internal control over financial reporting (as defined in
Rule 30a-3(d) under the Act) that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES
Not applicable.


ITEM 13. EXHIBITS.

(a)(1)  Not applicable.

(a)(2) Certifications pursuant to Rule 30a-2(a) of the Act, and Section 302 of the Sarbanes-Oxley Act of 2002. (Exhibits filed herewith)

(a)(3)  Not applicable.

(b)      Certifications pursuant to Rule 30a-2(b) of the Act, and Section 906 of the Sarbanes-Oxley Act of 2002. (Exhibit filed herewith)


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant Forum Funds II


By
 /s/ Jessica Chase
 
 
Jessica Chase, Principal Executive Officer
 
     
Date
 February 25, 2019
 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By
 /s/ Jessica Chase
 
 
Jessica Chase, Principal Executive Officer
 
     
Date
 February 25, 2019  

By
 /s/ Karen Shaw
 
 
Karen Shaw, Principal Financial Officer
 
     
Date
 February 25, 2019  


EX-99.CERT 2 dex99cert.htm
Exhibit 1A
Forum Funds II

I, Jessica Chase, certify that:

1. I have reviewed this report on Form N-CSR of Forum Funds II (Acuitas International Small Cap Fund and Acuitas US Microcap Fund);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and changes in net assets of the Registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Act ) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date:
 February 25, 2019
   /s/ Jessica Chase
 
     
Jessica Chase
 
     
Principal Executive Officer
 


Exhibit 1B
Forum Funds II

I, Karen Shaw, certify that:

1. I have reviewed this report on Form N-CSR of Forum Funds II (Acuitas International Small Cap Fund and Acuitas US Microcap Fund);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and changes in net assets of the Registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Act ) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date:
 February 25, 2019
   /s/ Karen Shaw
 
     
Karen Shaw
 
     
Principal Financial Officer
 

EX-99.906 CERT 3 dex906cert.htm
Exhibit 2

Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code)

In connection with the attached Report of Forum Funds II (the “Trust”) on Form N-CSR to be filed with the Securities and Exchange Commission (the “Report”), each of the undersigned officers of the Trust does hereby certify that, to the best of such officer’s knowledge:

1.
The Report containing the financial statements fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust as of, and for, the periods presented in the Report.

Dated:
 February 25, 2019
 
     
   /s/ Jessica Chase
 
 
Jessica Chase
 
 
Principal Executive Officer
 
     
Dated:
 February 25, 2019
 
     
   /s/ Karen Shaw
 
 
Karen Shaw
 
 
Principal Financial Officer
 

A signed original of this written statement required by Section 906 has been provided to the Trust and will be retained by the Trust and furnished to the Securities and Exchange Commission or its staff upon request.

GRAPHIC 4 fp0040096_01.jpg begin 644 fp0040096_01.jpg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end