The Ashton Global International Small-Cap portfolio has delivered a 71% return since inception in December 2014 with a 1.53 Sharpe ratio. The portfolio focuses on international small-cap opportunities, often in emerging or frontier markets, and creates additional alpha through unique event-driven special situations. The average holding period is two to three years and 30% annual portfolio turnover keeps fees low for investors.

1. Ashton Global International Small-Cap
The Ashton Global International Small-Cap portfolio was formed in December 2014 and has delivered a 71% return since inception with a 1.53 Sharpe ratio. The portfolio is focused on international
small-cap opportunities, often in emerging or frontier markets. Additional alpha is created through unique event-driven special situations. Our average investment holding period is two to three
years. Our long-term investment horizon and 30% annual portfolio turnover keeps fees low for our investors. Please contact Ashton Global today to learn more about our niche investment offerings.
Fund Factsheet – July 31, 2018
Total Returns in US Dollar
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2018 4.6% 0.1% -0.4% -2.4% 0.5% 0.3% -1.5% 0.8%
2017 5.3% 5.7% 3.5% -1.4% 2.0% 1.0% 3.4% 3.6% 3.9% 2.7% 2.8% 2.5% 40.8%
2016 -3.7% 2.9% 2.3% 4.0% -3.0% 2.3% 3.0% -1.1% 3.9% 0.5% -3.8% 0.8% 8.0%
2015 0.1% 4.5% 1.6% 1.9% 2.0% 2.1% 2.5% -4.3% -2.5% 1.8% 0.4% -1.2% 9.0%
Cumulative USD Total Return Since Inception vs BenchmarkFund Name: International Small-Cap
Inception: December 2014
Manager: Wangchuk Capital LLC
Distributor: Ashton Global LLC
Administrator: Interactive Brokers
Management Fee: 0.80%
Subscription: $500,000
Contact: Kijana Mack
Email: kmack@ashtonglobal.com
Phone: 212-514-8953
An investor should consider the fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the fund can be found in the fund’s prospectus, or, if applicable, the summary prospectus. Any decision to invest in Ashton Global funds should
be made on the basis of the current prospectus, which is available on request at info@ashtonglobal.com. Read the prospectus carefully before investing.
All investing involves risk, including potential loss of principal. There is no guarantee that the fund will achieve its objective. Investing in smaller companies can involve risks such as having less publicly available information, higher volatility, and less liquidity than in the case of larger companies. Overweighting investments in
certain sectors or industries increases the risk of loss due to general declines in the prices of stocks in those sectors or industries. Investments in technology companies may be highly volatile.
1.53
The Sharpe ratio is the average
return earned in excess of the
risk-free rate per unit of volatility
or total risk.
Sharpe Ratio
It is a modification of the
Sharpe ratio but penalizes only
those returns falling below a
user-specified target or required
rate of return.
Sortino Ratio
The Calmar ratio is a comparison
of the average annual
compounded rate of return and
the maximum drawdown risk
of commodity trading
advisors and hedge funds.
Calmar Ratio
1.35 1.72
Sharpe Ratio Sortino Ratio Calmar Ratio
34.7%
70.9%
-20%
0%
20%
40%
60%
80%
100%
Dec-14 Dec-15 Dec-16 Dec-17
ACWI Benchmark
Our Fund
Cumulative Return 70.94%
1 Month Return: -1.52% (July 2018)
3 Month Return: -0.68% (May 2018 – Jul 2018)
Best Return 5.67% (Feb 2017)
Worst Return -4.30% (Aug 2015)
Fund Stats
Thinley Wangchuk, Portfolio Manager Kijana Mack, Managing Director