FS Multi-Strategy Alternatives Fund Class I (FSMSX)
| Fund Assets | 1.58B |
| Expense Ratio | 1.72% |
| Min. Investment | $1,000,000 |
| Turnover | 987.00% |
| Dividend (ttm) | 0.46 |
| Dividend Yield | 4.06% |
| Dividend Growth | 66.12% |
| Payout Frequency | Annual |
| Ex-Dividend Date | Dec 15, 2025 |
| Previous Close | 11.30 |
| YTD Return | 1.44% |
| 1-Year Return | 5.25% |
| 5-Year Return | 32.55% |
| 52-Week Low | 10.50 |
| 52-Week High | 11.31 |
| Beta (5Y) | n/a |
| Holdings | 735 |
| Inception Date | May 16, 2017 |
About FSMSX
FS Multi-Strategy Alternatives Fund Class I is a mutual fund designed to provide broad exposure to alternative investment strategies within a single portfolio. Its primary purpose is to deliver returns with low correlation to traditional equity and fixed income markets, enhancing overall portfolio diversification. The fund actively allocates assets among a range of underlying managers and alternative beta strategies, selected through a rigorous combination of quantitative and qualitative processes. Classified as a non-diversified multistrategy fund, it has the flexibility to concentrate investments and employs a high-turnover approach. Its holdings include substantial allocations to cash equivalents, securitized assets, and government-related instruments. With over $1.9 billion in assets under management, the fund targets institutional investors and imposes a relatively high minimum investment. FS Multi-Strategy Alternatives Fund Class I plays a significant role for investors and institutions seeking a diversified, liquid alternative allocation that aims to mitigate traditional market risks and provide exposure to sophisticated investment techniques typically found outside conventional mutual funds.
Performance
FSMSX had a total return of 5.25% in the past year, including dividends. Since the fund's inception, the average annual return has been 6.42%.
Other Share Classes
These are alternative share classes of the same fund, from the same provider.
| Symbol | Share Class | Expense Ratio |
|---|---|---|
| FSMMX | Class A | 1.97% |
Top 10 Holdings
141.00% of assets| Name | Symbol | Weight |
|---|---|---|
| Federal National Mortgage Association - FANNIE MAE OR FREDDIE MAC 30YR TBA (OCTOBER) | FNCL.5.5 10.11 | 88.03% |
| Federal National Mortgage Association - FANNIE MAE OR FREDDIE MAC 30YR TBA (OCTOBER) | FNCL.5 10.11 | 20.27% |
| Federal National Mortgage Association - FANNIE MAE OR FREDDIE MAC 30YR TBA (NOVEMBER) | FNCL.5.5 11.11 | 11.77% |
| BARCLAYS BANK PLC MTN ZERO COUPON 12/29/2025 | n/a | 8.88% |
| S&P 500 ANNL DIV DEC27 PHYSICAL INDEX FUTURE. | SDAZ27 | 3.33% |
| BARCLAYS BANK PLC MTN ZERO COUPON 12/29/2025 | n/a | 2.63% |
| BARCLAYS BANK PLC MTN ZERO COUPON 12/29/2025 | BACR.0 12.29.25 EMVL | 1.75% |
| United States of America - TREASURY BILL 0.000000% 10/23/2025 | B.0 10.23.25 | 1.63% |
| United States of America - TREASURY BILL 0.000000% 10/02/2025 | B.0 10.02.25 | 1.46% |
| United States of America - US 5YR NOTE (CBT) DEC25 FINANCIAL COMMODITY FUTURE. | FVZ25 | 1.24% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 15, 2025 | $0.459 | Dec 16, 2025 |
| Dec 12, 2024 | $0.2763 | Dec 13, 2024 |
| Dec 11, 2023 | $0.3936 | Dec 12, 2023 |
| Dec 8, 2022 | $0.4417 | Dec 9, 2022 |
| Dec 28, 2021 | $0.34828 | Dec 29, 2021 |
| Dec 21, 2020 | $0.07525 | Dec 22, 2020 |