MORNINGSTAR

Morningstar Alternatives Fund Manager of the Year    (88 KB)

The team of managers from the TFS Market Neutral Fund were named Morningstar's 2012 Alternatives Fund Manager of the Year.

TFS CAPITAL LLC

TFS Capital announced a "special" distribution for the TFS Small Cap Fund.    (15 KB)

TFS Capital announced a "special" distribution for the TFS Small Cap Fund.

TFS CAPITAL LLC

TFS Announces Distribution Amounts    (16 KB)

MORNINGSTAR

Only one alternative fund wins "best-of-breed" gold rating, TFS Market Neutral (TFSMX).

TFS CAPITAL

TFS Launches New Fund: TFS Hedged Futures (TFSHX)    (23 KB)

TFSHX was launched on 12/29/2011 and has been seeded with money from employees of TFS Capital. The Fund was launched to directly compete with other managed futures funds.

KIPLINGER'S PERSONAL FINANCE

James Glassman highlights the TFS Market Neutral Fund as being "among the most popular and successful" alternative funds.

FINANCIAL ADVISOR MAGAZINE

Portfolio Manager Kevin Gates is quoted describing the approach of the TFS Market Neutral Fund (TFSMX).

USA TODAY

USA TODAY picks TFS Small Cap (TFSSX) as one of their all-star fund picks in the small blend category.

TFS CAPITAL LLC

TFSMX Receives 2011 Lipper Fund Award    (197 KB)

TFSMX received the 2011 Lipper Fund award for its trailing three and five year return through December 31, 2010.

TFS CAPITAL LLC

As you may know, the TFS Market Neutral Fund invests, at times, in closed-end funds. Because of this, the Fund must wait to receive tax information from each underlying closed-end fund before it can finalize its final tax numbers.

We expect the tax forms for the Fund to be mailed no later than this Monday, February 28th. Please update your tax preparer of this situation. In addition, if you are an investment advisory firm, you may consider alerting any clients that you have that may receive their tax information directly from the Fund.

We apologize for the delay and for any inconvenience this may have caused.

MORNINGSTAR

TFSMX will reopen to all existing shareholders on Jan. 10, 2011. It is one of the best-performing funds in the market-neutral category over the last 1-, 3-, and 5-year periods.

WALL STREET JOURNAL

More than a year after TFS first exposed the problem and months after sharing public comments with the SEC, the story blows up.

INVESTMENT NEWS

After more than five years of solid performance, including a run in 2009 that saw assets more than double to nearly $1 billion, TFSMX will be implementing a "hard close" on 1/22.

BUSINESSWEEK - ALTERNATIVE ASSETS FOR THE MASSES

Morningstar tracks 78 long/short funds, about a fifth of which were launched since the crisis began. Only three earn the coveted five-star rating, one being the TFS Market Neutral Fund (TFSMX).

SEC ROUNDTABLE - SECURITIES LENDING AND SHORT SALE

Rich Gates, Portfolio Manager at TFS Capital LLC, was invited to participate in the SEC roundtable discussing securities lending and short sales with SEC chairman Mary Schapiro.

BUSINESSWEEK - TOP INVESTORS: HOW THEY BEAT A SCARY MARKET

"BusinessWeek asked successful portfolio managers how they navigated a nasty recession and financial crisis...Rich Gates doesn't shift approaches depending on his predictions of the future. His TFS Market Neutral fund has used the same quantitative strategy since it was started five years ago. It's an approach similar to the hedge fund strategies TFS has run since 2001."

FINANCIAL ADVISOR MAGAZINE - CLEAN ALTERNATIVES

"A longtime skeptic of the hedge fund industry, Thomas Meyer uses a more transparent path to alternative investments: open-end mutual funds. One example would be the TFS Market Neutral Fund, a long-short fund with a small-cap focus that was started in 2004 under the management of TFS Capital LLC."

REUTERS - SHORT INTEREST INCHES HIGHER

"Liquidity is returning to the marketplace, said Rich Gates, founder of TFS Capital, which runs a long-short market neutral fund. Gates said short sellers were likely more comfortable putting money into the market after former U.S. Securities and Exchange Commission Chairman Christopher Cox said the temporary ban on short selling last year was a mistake."

KIPLINGER.COM - HEDGED THAT DIDN'T GET HOSED

"Hedge funds took a bath in 2008. But some low-cost mutual funds that use hedging techniques turned in respectable performances...In theory, market-related movements of one portfolio offset those of the other, leaving per-formance dependent on a manager's ability to identify winners and losers."