Form N-CSR Cover
Form N-CSR Cover | 12 Months Ended |
May 31, 2024 | |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | Franklin Alternative Strategies Funds |
Entity Central Index Key | 0001535538 |
Entity Investment Company Type | N-1A |
Document Period End Date | May 31, 2024 |
Shareholder Report
Shareholder Report | 12 Months Ended | |
May 31, 2024 USD ($) $ / shares | ||
Shareholder Report [Line Items] | ||
Document Type | N-CSR | |
Amendment Flag | false | |
Registrant Name | Franklin Alternative Strategies Funds | |
Entity Central Index Key | 0001535538 | |
Entity Investment Company Type | N-1A | |
Document Period End Date | May 31, 2024 | |
Class A | ||
Shareholder Report [Line Items] | ||
Fund Name | K2 Alternative Strategies Fund | |
Class Name | Class A | |
Trading Symbol | FAAAX | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents . You can also request this information by contacting us at (800) DIAL BEN/342-5236 . | |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. | |
Additional Information Phone Number | (800) DIAL BEN/342-5236 | |
Additional Information Website | https://www.franklintempleton.com/regulatory-fund-documents | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of $10,000 investment Costs paid as a percentage of a $10,000 investment * Class A $269 2.57% | [1] |
Expenses Paid, Amount | $ 269 | |
Expense Ratio, Percent | 2.57% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the twelve months ended May 31, 2024, Class A shares of K2 Alternatives Strategies Fund returned 9.57%. The Fund compares its performance to the HFRX Global Hedge Fund Index and the ICE BofA U.S. 3-Month Treasury Bill Index, which returned 5.89% and 5.45%, respectively, for the same period. PERFORMANCE HIGHLIGHTS Top contributors to performance: ↑ At the asset class level, long positioning in equities drove gains, led by the industrials, utilities and health care sectors. Long fixed income positioning and currency hedges also aided performance, led by emerging market sovereign bonds and short positioning against the Swiss franc. ↑ Long short equity was the largest strategy contributor, with gains driven by long equity positioning in the industrials, utilities and health care sectors. ↑ Long short equity sub-advisor Electron Capital Partners was the leading contributor, driven by long positioning in the industrials sector, especially the capital goods industry, and in utilities. Top detractors from performance: ↓ Among asset classes, commodity positioning weighed the most on returns, due to short positions in agricultural and metal commodities held by sub-advisor Capital Fund Management (CFM). Credit positioning also detracted, due to credit default swaps by RBC Global Asset Management (UK) (formerly, BlueBay Asset Management) in emerging market sovereign bonds. ↓ The Strategic Overlay strategy, activated at the end of the first quarter of 2024, was a modest detractor as its long exposure to S&P 500 ® Index futures weighed slightly on returns. ↓ Three of the sub-advisors modestly detracted. One River Asset Management, a relative value sub-advisor (exited in March 2024) weighed the most on returns. Use of derivatives and the impact on performance: Derivatives make up a significant portion of the Fund’s holdings across multiple asset classes and security types. During the period, derivatives were an overall contributor to performance, as gains from equity total return swaps, equity index futures and interest rate contracts outweighed losses from credit default swaps, commodity futures and foreign exchange forward contracts. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. | |
Line Graph [Table Text Block] | ||
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended May 31, 2024 1 Year 5 Year 10 Year Class A (without sales charge) 9.57 2.55 2.51 Class A (with sales charge) 3.56 1.39 1.93 MSCI All Country World Index-NR 23.56 11.67 8.40 HFRX Global Hedge Fund Index 5.89 3.46 1.59 ICE BofA U.S. 3-Month Treasury Bill Index 5.45 2.12 1.47 | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit https://www.franklintempleton.com/investments/options/mutual-funds . Important data provider notices and terms available at www.franklintempletondatasources.com. | |
Net Assets | $ 634,669,943 | |
Holdings Count | $ / shares | 721 | [2] |
Advisory Fees Paid, Amount | $ 11,431,760 | |
Investment Company Portfolio Turnover | 257.70% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of May 31, 2024) Total Net Assets $634,669,943 Total Number of Portfolio Holdings * 721 Total Management Fee Paid $11,431,760 Portfolio Turnover Rate 257.70% | [2] |
Holdings [Text Block] | Long Positions Short Positions Long Short Equity 43.2 -32.4 Relative Value 51.6 -26.1 Event Driven 2.3 -2.0 Global Macro 95.0 -136.3 Strategic Overlay 3.0 -- Total 195.1 -196.8 | |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? In October 2023, the Fund revised its investment strategies to reflect that the Fund’s investment manager may directly manage a portion of the Fund’s assets in one or more of the Fund’s alternative investment strategies. In March 2024, the Fund further revised its investment strategies to reflect that the Fund’s investment manager: (i) may directly manage up to a substantial portion of the Fund’s assets in one or more of the Fund’s alternative investment strategies; and (ii) manages a small portion of the Fund’s assets according to its strategic overlay strategy, which uses derivatives and other instruments to adjust the Fund’s net exposure to markets, asset classes and sectors. The investment manager of the Fund, however, still allocates a substantial portion (or, at times, up to all) of the Fund’s assets to affiliated and unaffiliated sub-advisors to implement the Fund’s alternative investment strategies. Effective as of June 3, 2024, the Fund’s named portfolio management team consists of Lillian C. Night, Art Vinokur, Brooks Ritchey, Robert Christian and Anthony Zanolla. It is anticipated that Mr. Ritchey will retire and step down as a member of the Fund’s portfolio management team on or about September 30, 2024. Effective July 1, 2023, the Fund’s contractual fee and expense cap on operating expenses was reduced from 1.95% to 1.90% (excluding Rule 12b-1 fees, acquired fund fees and expenses, expenses related to securities sold short and certain non-routine expenses or costs). Effective March 1, 2024, this contractual fee and expense cap on operating expenses was further reduced to 1.70% through September 30, 2025. In addition, effective on March 1, 2024, the Fund’s contractual management fee schedule was reduced by 0.20% for each breakpoint. This is a summary of certain changes to the Fund since June 1, 2023. For more complete information, you may review the Fund’s current prospectus and any applicable supplements at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) DIAL BEN/342-5236 or prospectus franklintempleton.com . | |
Updated Prospectus Phone Number | (800) DIAL BEN/342-5236 | |
Updated Prospectus Email Address | prospectus@franklintempleton.com | |
Updated Prospectus Web Address | https://www.franklintempleton.com/regulatory-fund-documents | |
Class C | ||
Shareholder Report [Line Items] | ||
Fund Name | K2 Alternative Strategies Fund | |
Class Name | Class C | |
Trading Symbol | FASCX | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents . You can also request this information by contacting us at (800) DIAL BEN/342-5236 . | |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. | |
Additional Information Phone Number | (800) DIAL BEN/342-5236 | |
Additional Information Website | https://www.franklintempleton.com/regulatory-fund-documents | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of $10,000 investment Costs paid as a percentage of a $10,000 investment * Class C $347 3.33% | [3] |
Expenses Paid, Amount | $ 347 | |
Expense Ratio, Percent | 3.33% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the twelve months ended May 31, 2024, Class C shares of K2 Alternatives Strategies Fund returned 8.69%. The Fund compares its performance to the HFRX Global Hedge Fund Index and the ICE BofA U.S. 3-Month Treasury Bill Index, which returned 5.89% and 5.45%, respectively, for the same period. PERFORMANCE HIGHLIGHTS Top contributors to performance: ↑ At the asset class level, long positioning in equities drove gains, led by the industrials, utilities and health care sectors. Long fixed income positioning and currency hedges also aided performance, led by emerging market sovereign bonds and short positioning against the Swiss franc. ↑ Long short equity was the largest strategy contributor, with gains driven by long equity positioning in the industrials, utilities and health care sectors. ↑ Long short equity sub-advisor Electron Capital Partners was the leading contributor, driven by long positioning in the industrials sector, especially the capital goods industry, and in utilities. Top detractors from performance: ↓ Among asset classes, commodity positioning weighed the most on returns, due to short positions in agricultural and metal commodities held by sub-advisor Capital Fund Management (CFM). Credit positioning also detracted, due to credit default swaps by RBC Global Asset Management (UK) (formerly, BlueBay Asset Management) in emerging market sovereign bonds. ↓ The Strategic Overlay strategy, activated at the end of the first quarter of 2024, was a modest detractor as its long exposure to S&P 500 ® Index futures weighed slightly on returns. ↓ Three of the sub-advisors modestly detracted. One River Asset Management, a relative value sub-advisor (exited in March 2024) weighed the most on returns. Use of derivatives and the impact on performance: Derivatives make up a significant portion of the Fund’s holdings across multiple asset classes and security types. During the period, derivatives were an overall contributor to performance, as gains from equity total return swaps, equity index futures and interest rate contracts outweighed losses from credit default swaps, commodity futures and foreign exchange forward contracts. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. | |
Line Graph [Table Text Block] | ||
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended May 31, 2024 1 Year 5 Year 10 Year Class C (without sales charge) 8.69 1.79 1.75 Class C (with sales charge) 7.69 1.79 1.75 MSCI All Country World Index-NR 23.56 11.67 8.40 HFRX Global Hedge Fund Index 5.89 3.46 1.59 ICE BofA U.S. 3-Month Treasury Bill Index 5.45 2.12 1.47 | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit https://www.franklintempleton.com/investments/options/mutual-funds . Important data provider notices and terms available at www.franklintempletondatasources.com. | |
Net Assets | $ 634,669,943 | |
Holdings Count | $ / shares | 721 | [4] |
Advisory Fees Paid, Amount | $ 11,431,760 | |
Investment Company Portfolio Turnover | 257.70% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of May 31, 2024) Total Net Assets $634,669,943 Total Number of Portfolio Holdings * 721 Total Management Fee Paid $11,431,760 Portfolio Turnover Rate 257.70% | [4] |
Holdings [Text Block] | Long Positions Short Positions Long Short Equity 43.2 -32.4 Relative Value 51.6 -26.1 Event Driven 2.3 -2.0 Global Macro 95.0 -136.3 Strategic Overlay 3.0 -- Total 195.1 -196.8 | |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? In October 2023, the Fund revised its investment strategies to reflect that the Fund’s investment manager may directly manage a portion of the Fund’s assets in one or more of the Fund’s alternative investment strategies. In March 2024, the Fund further revised its investment strategies to reflect that the Fund’s investment manager: (i) may directly manage up to a substantial portion of the Fund’s assets in one or more of the Fund’s alternative investment strategies; and (ii) manages a small portion of the Fund’s assets according to its strategic overlay strategy, which uses derivatives and other instruments to adjust the Fund’s net exposure to markets, asset classes and sectors. The investment manager of the Fund, however, still allocates a substantial portion (or, at times, up to all) of the Fund’s assets to affiliated and unaffiliated sub-advisors to implement the Fund’s alternative investment strategies. Effective as of June 3, 2024, the Fund’s named portfolio management team consists of Lillian C. Night, Art Vinokur, Brooks Ritchey, Robert Christian and Anthony Zanolla. It is anticipated that Mr. Ritchey will retire and step down as a member of the Fund’s portfolio management team on or about September 30, 2024. Effective July 1, 2023, the Fund’s contractual fee and expense cap on operating expenses was reduced from 1.95% to 1.90% (excluding Rule 12b-1 fees, acquired fund fees and expenses, expenses related to securities sold short and certain non-routine expenses or costs). Effective March 1, 2024, this contractual fee and expense cap on operating expenses was further reduced to 1.70% through September 30, 2025. In addition, effective on March 1, 2024, the Fund’s contractual management fee schedule was reduced by 0.20% for each breakpoint. This is a summary of certain changes to the Fund since June 1, 2023. For more complete information, you may review the Fund’s current prospectus and any applicable supplements at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) DIAL BEN/342-5236 or prospectus franklintempleton.com . | |
Updated Prospectus Phone Number | (800) DIAL BEN/342-5236 | |
Updated Prospectus Email Address | prospectus@franklintempleton.com | |
Updated Prospectus Web Address | https://www.franklintempleton.com/regulatory-fund-documents | |
Class R | ||
Shareholder Report [Line Items] | ||
Fund Name | K2 Alternative Strategies Fund | |
Class Name | Class R | |
Trading Symbol | FSKKX | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents . You can also request this information by contacting us at (800) DIAL BEN/342-5236 . | |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. | |
Additional Information Phone Number | (800) DIAL BEN/342-5236 | |
Additional Information Website | https://www.franklintempleton.com/regulatory-fund-documents | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of $10,000 investment Costs paid as a percentage of a $10,000 investment * Class R $295 2.82% | [5] |
Expenses Paid, Amount | $ 295 | |
Expense Ratio, Percent | 2.82% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the twelve months ended May 31, 2024, Class R shares of K2 Alternatives Strategies Fund returned 9.30%. The Fund compares its performance to the HFRX Global Hedge Fund Index and the ICE BofA U.S. 3-Month Treasury Bill Index, which returned 5.89% and 5.45%, respectively, for the same period. PERFORMANCE HIGHLIGHTS Top contributors to performance: ↑ At the asset class level, long positioning in equities drove gains, led by the industrials, utilities and health care sectors. Long fixed income positioning and currency hedges also aided performance, led by emerging market sovereign bonds and short positioning against the Swiss franc. ↑ Long short equity was the largest strategy contributor, with gains driven by long equity positioning in the industrials, utilities and health care sectors. ↑ Long short equity sub-advisor Electron Capital Partners was the leading contributor, driven by long positioning in the industrials sector, especially the capital goods industry, and in utilities. Top detractors from performance: ↓ Among asset classes, commodity positioning weighed the most on returns, due to short positions in agricultural and metal commodities held by sub-advisor Capital Fund Management (CFM). Credit positioning also detracted, due to credit default swaps by RBC Global Asset Management (UK) (formerly, BlueBay Asset Management) in emerging market sovereign bonds. ↓ The Strategic Overlay strategy, activated at the end of the first quarter of 2024, was a modest detractor as its long exposure to S&P 500 ® Index futures weighed slightly on returns. ↓ Three of the sub-advisors modestly detracted. One River Asset Management, a relative value sub-advisor (exited in March 2024) weighed the most on returns. Use of derivatives and the impact on performance: Derivatives make up a significant portion of the Fund’s holdings across multiple asset classes and security types. During the period, derivatives were an overall contributor to performance, as gains from equity total return swaps, equity index futures and interest rate contracts outweighed losses from credit default swaps, commodity futures and foreign exchange forward contracts. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. | |
Line Graph [Table Text Block] | ||
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended May 31, 2024 1 Year 5 Year 10 Year Class R (without sales charge) 9.30 2.31 2.22 Class R (with sales charge) 9.30 2.31 2.22 MSCI All Country World Index-NR 23.56 11.67 8.40 HFRX Global Hedge Fund Index 5.89 3.46 1.59 ICE BofA U.S. 3-Month Treasury Bill Index 5.45 2.12 1.47 | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit https://www.franklintempleton.com/investments/options/mutual-funds . Important data provider notices and terms available at www.franklintempletondatasources.com. | |
Net Assets | $ 634,669,943 | |
Holdings Count | $ / shares | 721 | [6] |
Advisory Fees Paid, Amount | $ 11,431,760 | |
Investment Company Portfolio Turnover | 257.70% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of May 31, 2024) Total Net Assets $634,669,943 Total Number of Portfolio Holdings * 721 Total Management Fee Paid $11,431,760 Portfolio Turnover Rate 257.70% | [6] |
Holdings [Text Block] | Long Positions Short Positions Long Short Equity 43.2 -32.4 Relative Value 51.6 -26.1 Event Driven 2.3 -2.0 Global Macro 95.0 -136.3 Strategic Overlay 3.0 -- Total 195.1 -196.8 | |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? In October 2023, the Fund revised its investment strategies to reflect that the Fund’s investment manager may directly manage a portion of the Fund’s assets in one or more of the Fund’s alternative investment strategies. In March 2024, the Fund further revised its investment strategies to reflect that the Fund’s investment manager: (i) may directly manage up to a substantial portion of the Fund’s assets in one or more of the Fund’s alternative investment strategies; and (ii) manages a small portion of the Fund’s assets according to its strategic overlay strategy, which uses derivatives and other instruments to adjust the Fund’s net exposure to markets, asset classes and sectors. The investment manager of the Fund, however, still allocates a substantial portion (or, at times, up to all) of the Fund’s assets to affiliated and unaffiliated sub-advisors to implement the Fund’s alternative investment strategies. Effective as of June 3, 2024, the Fund’s named portfolio management team consists of Lillian C. Night, Art Vinokur, Brooks Ritchey, Robert Christian and Anthony Zanolla. It is anticipated that Mr. Ritchey will retire and step down as a member of the Fund’s portfolio management team on or about September 30, 2024. Effective July 1, 2023, the Fund’s contractual fee and expense cap on operating expenses was reduced from 1.95% to 1.90% (excluding Rule 12b-1 fees, acquired fund fees and expenses, expenses related to securities sold short and certain non-routine expenses or costs). Effective March 1, 2024, this contractual fee and expense cap on operating expenses was further reduced to 1.70% through September 30, 2025. In addition, effective on March 1, 2024, the Fund’s contractual management fee schedule was reduced by 0.20% for each breakpoint. This is a summary of certain changes to the Fund since June 1, 2023. For more complete information, you may review the Fund’s current prospectus and any applicable supplements at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) DIAL BEN/342-5236 or prospectus franklintempleton.com . | |
Updated Prospectus Phone Number | (800) DIAL BEN/342-5236 | |
Updated Prospectus Email Address | prospectus@franklintempleton.com | |
Updated Prospectus Web Address | https://www.franklintempleton.com/regulatory-fund-documents | |
Class R6 | ||
Shareholder Report [Line Items] | ||
Fund Name | K2 Alternative Strategies Fund | |
Class Name | Class R6 | |
Trading Symbol | FASRX | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents . You can also request this information by contacting us at (800) DIAL BEN/342-5236 . | |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. | |
Additional Information Phone Number | (800) DIAL BEN/342-5236 | |
Additional Information Website | https://www.franklintempleton.com/regulatory-fund-documents | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of $10,000 investment Costs paid as a percentage of a $10,000 investment * Class R6 $237 2.26% | [7] |
Expenses Paid, Amount | $ 237 | |
Expense Ratio, Percent | 2.26% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the twelve months ended May 31, 2024, Class R6 shares of K2 Alternatives Strategies Fund returned 10.03%. The Fund compares its performance to the HFRX Global Hedge Fund Index and the ICE BofA U.S. 3-Month Treasury Bill Index, which returned 5.89% and 5.45%, respectively, for the same period. PERFORMANCE HIGHLIGHTS Top contributors to performance: ↑ At the asset class level, long positioning in equities drove gains, led by the industrials, utilities and health care sectors. Long fixed income positioning and currency hedges also aided performance, led by emerging market sovereign bonds and short positioning against the Swiss franc. ↑ Long short equity was the largest strategy contributor, with gains driven by long equity positioning in the industrials, utilities and health care sectors. ↑ Long short equity sub-advisor Electron Capital Partners was the leading contributor, driven by long positioning in the industrials sector, especially the capital goods industry, and in utilities. Top detractors from performance: ↓ Among asset classes, commodity positioning weighed the most on returns, due to short positions in agricultural and metal commodities held by sub-advisor Capital Fund Management (CFM). Credit positioning also detracted, due to credit default swaps by RBC Global Asset Management (UK) (formerly, BlueBay Asset Management) in emerging market sovereign bonds. ↓ The Strategic Overlay strategy, activated at the end of the first quarter of 2024, was a modest detractor as its long exposure to S&P 500 ® Index futures weighed slightly on returns. ↓ Three of the sub-advisors modestly detracted. One River Asset Management, a relative value sub-advisor (exited in March 2024) weighed the most on returns. Use of derivatives and the impact on performance: Derivatives make up a significant portion of the Fund’s holdings across multiple asset classes and security types. During the period, derivatives were an overall contributor to performance, as gains from equity total return swaps, equity index futures and interest rate contracts outweighed losses from credit default swaps, commodity futures and foreign exchange forward contracts. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. | |
Line Graph [Table Text Block] | ||
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended May 31, 2024 1 Year 5 Year 10 Year Class R6 (without sales charge) 10.03 2.89 2.84 Class R6 (with sales charge) 10.03 2.89 2.84 MSCI All Country World Index-NR 23.56 11.67 8.40 HFRX Global Hedge Fund Index 5.89 3.46 1.59 ICE BofA U.S. 3-Month Treasury Bill Index 5.45 2.12 1.47 | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit https://www.franklintempleton.com/investments/options/mutual-funds . Important data provider notices and terms available at www.franklintempletondatasources.com. | |
Net Assets | $ 634,669,943 | |
Holdings Count | $ / shares | 721 | [8] |
Advisory Fees Paid, Amount | $ 11,431,760 | |
Investment Company Portfolio Turnover | 257.70% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of May 31, 2024) Total Net Assets $634,669,943 Total Number of Portfolio Holdings * 721 Total Management Fee Paid $11,431,760 Portfolio Turnover Rate 257.70% | [8] |
Holdings [Text Block] | Long Positions Short Positions Long Short Equity 43.2 -32.4 Relative Value 51.6 -26.1 Event Driven 2.3 -2.0 Global Macro 95.0 -136.3 Strategic Overlay 3.0 -- Total 195.1 -196.8 | |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? In October 2023, the Fund revised its investment strategies to reflect that the Fund’s investment manager may directly manage a portion of the Fund’s assets in one or more of the Fund’s alternative investment strategies. In March 2024, the Fund further revised its investment strategies to reflect that the Fund’s investment manager: (i) may directly manage up to a substantial portion of the Fund’s assets in one or more of the Fund’s alternative investment strategies; and (ii) manages a small portion of the Fund’s assets according to its strategic overlay strategy, which uses derivatives and other instruments to adjust the Fund’s net exposure to markets, asset classes and sectors. The investment manager of the Fund, however, still allocates a substantial portion (or, at times, up to all) of the Fund’s assets to affiliated and unaffiliated sub-advisors to implement the Fund’s alternative investment strategies. Effective as of June 3, 2024, the Fund’s named portfolio management team consists of Lillian C. Night, Art Vinokur, Brooks Ritchey, Robert Christian and Anthony Zanolla. It is anticipated that Mr. Ritchey will retire and step down as a member of the Fund’s portfolio management team on or about September 30, 2024. Effective July 1, 2023, the Fund’s contractual fee and expense cap on operating expenses was reduced from 1.95% to 1.90% (excluding Rule 12b-1 fees, acquired fund fees and expenses, expenses related to securities sold short and certain non-routine expenses or costs). Effective March 1, 2024, this contractual fee and expense cap on operating expenses was further reduced to 1.70% through September 30, 2025. In addition, effective on March 1, 2024, the Fund’s contractual management fee schedule was reduced by 0.20% for each breakpoint. This is a summary of certain changes to the Fund since June 1, 2023. For more complete information, you may review the Fund’s current prospectus and any applicable supplements at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) DIAL BEN/342-5236 or prospectus franklintempleton.com . | |
Updated Prospectus Phone Number | (800) DIAL BEN/342-5236 | |
Updated Prospectus Email Address | prospectus@franklintempleton.com | |
Updated Prospectus Web Address | https://www.franklintempleton.com/regulatory-fund-documents | |
Advisor Class | ||
Shareholder Report [Line Items] | ||
Fund Name | K2 Alternative Strategies Fund | |
Class Name | Advisor Class | |
Trading Symbol | FABZX | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents . You can also request this information by contacting us at (800) DIAL BEN/342-5236 . | |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. | |
Additional Information Phone Number | (800) DIAL BEN/342-5236 | |
Additional Information Website | https://www.franklintempleton.com/regulatory-fund-documents | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) Class Name Costs of $10,000 investment Costs paid as a percentage of a $10,000 investment * Advisor Class $244 2.33% | [9] |
Expenses Paid, Amount | $ 244 | |
Expense Ratio, Percent | 2.33% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the twelve months ended May 31, 2024, Advisor Class shares of K2 Alternatives Strategies Fund returned 9.87%. The Fund compares its performance to the HFRX Global Hedge Fund Index and the ICE BofA U.S. 3-Month Treasury Bill Index, which returned 5.89% and 5.45%, respectively, for the same period. PERFORMANCE HIGHLIGHTS Top contributors to performance: ↑ At the asset class level, long positioning in equities drove gains, led by the industrials, utilities and health care sectors. Long fixed income positioning and currency hedges also aided performance, led by emerging market sovereign bonds and short positioning against the Swiss franc. ↑ Long short equity was the largest strategy contributor, with gains driven by long equity positioning in the industrials, utilities and health care sectors. ↑ Long short equity sub-advisor Electron Capital Partners was the leading contributor, driven by long positioning in the industrials sector, especially the capital goods industry, and in utilities. Top detractors from performance: ↓ Among asset classes, commodity positioning weighed the most on returns, due to short positions in agricultural and metal commodities held by sub-advisor Capital Fund Management (CFM). Credit positioning also detracted, due to credit default swaps by RBC Global Asset Management (UK) (formerly, BlueBay Asset Management) in emerging market sovereign bonds. ↓ The Strategic Overlay strategy, activated at the end of the first quarter of 2024, was a modest detractor as its long exposure to S&P 500 ® Index futures weighed slightly on returns. ↓ Three of the sub-advisors modestly detracted. One River Asset Management, a relative value sub-advisor (exited in March 2024) weighed the most on returns. Use of derivatives and the impact on performance: Derivatives make up a significant portion of the Fund’s holdings across multiple asset classes and security types. During the period, derivatives were an overall contributor to performance, as gains from equity total return swaps, equity index futures and interest rate contracts outweighed losses from credit default swaps, commodity futures and foreign exchange forward contracts. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. | |
Line Graph [Table Text Block] | ||
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS (%) Period Ended May 31, 2024 1 Year 5 Year 10 Year Advisor Class (without sales charge) 9.87 2.83 2.78 Advisor Class (with sales charge) 9.87 2.83 2.78 MSCI All Country World Index-NR 23.56 11.67 8.40 HFRX Global Hedge Fund Index 5.89 3.46 1.59 ICE BofA U.S. 3-Month Treasury Bill Index 5.45 2.12 1.47 | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/342-5236 or visit https://www.franklintempleton.com/investments/options/mutual-funds . Important data provider notices and terms available at www.franklintempletondatasources.com. | |
Net Assets | $ 634,669,943 | |
Holdings Count | $ / shares | 721 | [10] |
Advisory Fees Paid, Amount | $ 11,431,760 | |
Investment Company Portfolio Turnover | 257.70% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of May 31, 2024) Total Net Assets $634,669,943 Total Number of Portfolio Holdings * 721 Total Management Fee Paid $11,431,760 Portfolio Turnover Rate 257.70% | [10] |
Holdings [Text Block] | Long Positions Short Positions Long Short Equity 43.2 -32.4 Relative Value 51.6 -26.1 Event Driven 2.3 -2.0 Global Macro 95.0 -136.3 Strategic Overlay 3.0 -- Total 195.1 -196.8 | |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? In October 2023, the Fund revised its investment strategies to reflect that the Fund’s investment manager may directly manage a portion of the Fund’s assets in one or more of the Fund’s alternative investment strategies. In March 2024, the Fund further revised its investment strategies to reflect that the Fund’s investment manager: (i) may directly manage up to a substantial portion of the Fund’s assets in one or more of the Fund’s alternative investment strategies; and (ii) manages a small portion of the Fund’s assets according to its strategic overlay strategy, which uses derivatives and other instruments to adjust the Fund’s net exposure to markets, asset classes and sectors. The investment manager of the Fund, however, still allocates a substantial portion (or, at times, up to all) of the Fund’s assets to affiliated and unaffiliated sub-advisors to implement the Fund’s alternative investment strategies. Effective as of June 3, 2024, the Fund’s named portfolio management team consists of Lillian C. Night, Art Vinokur, Brooks Ritchey, Robert Christian and Anthony Zanolla. It is anticipated that Mr. Ritchey will retire and step down as a member of the Fund’s portfolio management team on or about September 30, 2024. Effective July 1, 2023, the Fund’s contractual fee and expense cap on operating expenses was reduced from 1.95% to 1.90% (excluding Rule 12b-1 fees, acquired fund fees and expenses, expenses related to securities sold short and certain non-routine expenses or costs). Effective March 1, 2024, this contractual fee and expense cap on operating expenses was further reduced to 1.70% through September 30, 2025. In addition, effective on March 1, 2024, the Fund’s contractual management fee schedule was reduced by 0.20% for each breakpoint. This is a summary of certain changes to the Fund since June 1, 2023. For more complete information, you may review the Fund’s current prospectus and any applicable supplements at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) DIAL BEN/342-5236 or prospectus franklintempleton.com . | |
Updated Prospectus Phone Number | (800) DIAL BEN/342-5236 | |
Updated Prospectus Email Address | prospectus@franklintempleton.com | |
Updated Prospectus Web Address | https://www.franklintempleton.com/regulatory-fund-documents | |
[1] * Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. * Does not include derivatives, except purchased option contracts, if any. * Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. * Does not include derivatives, except purchased option contracts, if any. * Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. * Does not include derivatives, except purchased option contracts, if any. * Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. * Does not include derivatives, except purchased option contracts, if any. * Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher. * Does not include derivatives, except purchased option contracts, if any. |
Shareholder Report, Line Graph
Shareholder Report, Line Graph (Details) - USD ($) | May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | May 31, 2017 | May 31, 2016 | May 31, 2015 | May 31, 2014 |
Class A | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | $ 12,104 | $ 11,047 | $ 11,214 | $ 11,961 | $ 10,656 | $ 10,672 | $ 10,530 | $ 10,167 | $ 9,585 | $ 9,973 | $ 9,450 |
Class C | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 11,900 | 10,949 | 11,186 | 12,036 | 10,794 | 10,887 | 10,827 | 10,530 | 10,003 | 10,487 | 10,000 |
Class R | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 12,459 | 11,399 | 11,590 | 12,396 | 11,071 | 11,114 | 10,995 | 10,646 | 10,063 | 10,567 | 10,000 |
Class R6 | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 13,234 | 12,028 | 12,174 | 12,959 | 11,507 | 11,476 | 11,285 | 10,868 | 10,215 | 10,551 | 10,000 |
Advisor Class | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 13,153 | 11,972 | 12,119 | 12,899 | 11,461 | 11,439 | 11,258 | 10,851 | 10,209 | 10,588 | 10,000 |
Class A-MSCI All Country World Index-NR [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 22,398 | 18,128 | 17,975 | 19,283 | 13,594 | 12,894 | 13,063 | 11,681 | 9,938 | 10,508 | 10,000 |
Class A-HFRX Global Hedge Fund Index [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 11,706 | 11,055 | 11,196 | 11,545 | 10,168 | 9,877 | 10,255 | 9,967 | 9,404 | 10,111 | 10,000 |
Class A-ICE BofA U.S. 3-Month Treasury Bill Index [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 11,573 | 10,974 | 10,640 | 10,624 | 10,613 | 10,421 | 10,191 | 10,062 | 10,018 | 10,003 | 10,000 |
Class C-MSCI All Country World Index-NR [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 22,398 | 18,128 | 17,975 | 19,283 | 13,594 | 12,894 | 13,063 | 11,681 | 9,938 | 10,508 | 10,000 |
Class C-HFRX Global Hedge Fund Index [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 11,706 | 11,055 | 11,196 | 11,545 | 10,168 | 9,877 | 10,255 | 9,967 | 9,404 | 10,111 | 10,000 |
Class C-ICE BofA U.S. 3-Month Treasury Bill Index [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 11,573 | 10,974 | 10,640 | 10,624 | 10,613 | 10,421 | 10,191 | 10,062 | 10,018 | 10,003 | 10,000 |
Class R-MSCI All Country World Index-NR [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 22,398 | 18,128 | 17,975 | 19,283 | 13,594 | 12,894 | 13,063 | 11,681 | 9,938 | 10,508 | 10,000 |
Class R-HFRX Global Hedge Fund Index [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 11,706 | 11,055 | 11,196 | 11,545 | 10,168 | 9,877 | 10,255 | 9,967 | 9,404 | 10,111 | 10,000 |
Class R-ICE BofA U.S. 3-Month Treasury Bill Index [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 11,573 | 10,974 | 10,640 | 10,624 | 10,613 | 10,421 | 10,191 | 10,062 | 10,018 | 10,003 | 10,000 |
Class R6-MSCI All Country World Index-NR [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 22,398 | 18,128 | 17,975 | 19,283 | 13,594 | 12,894 | 13,063 | 11,681 | 9,938 | 10,508 | 10,000 |
Class R6-HFRX Global Hedge Fund Index [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 11,706 | 11,055 | 11,196 | 11,545 | 10,168 | 9,877 | 10,255 | 9,967 | 9,404 | 10,111 | 10,000 |
Class R6-ICE BofA U.S. 3-Month Treasury Bill Index [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 11,573 | 10,974 | 10,640 | 10,624 | 10,613 | 10,421 | 10,191 | 10,062 | 10,018 | 10,003 | 10,000 |
Advisor Class-MSCI All Country World Index-NR [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 22,398 | 18,128 | 17,975 | 19,283 | 13,594 | 12,894 | 13,063 | 11,681 | 9,938 | 10,508 | 10,000 |
Advisor Class-HFRX Global Hedge Fund Index [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | 11,706 | 11,055 | 11,196 | 11,545 | 10,168 | 9,877 | 10,255 | 9,967 | 9,404 | 10,111 | 10,000 |
Advisor Class-ICE BofA U.S. 3-Month Treasury Bill Index [Member] | |||||||||||
Account Value [Line Items] | |||||||||||
Account Value | $ 11,573 | $ 10,974 | $ 10,640 | $ 10,624 | $ 10,613 | $ 10,421 | $ 10,191 | $ 10,062 | $ 10,018 | $ 10,003 | $ 10,000 |
Shareholder Report, Average Ann
Shareholder Report, Average Annual Return (Details) | 12 Months Ended | 60 Months Ended | 120 Months Ended |
May 31, 2024 | May 31, 2024 | May 31, 2024 | |
Class A | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 3.56% | 1.39% | 1.93% |
Class C | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 7.69% | 1.79% | 1.75% |
Class R | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 9.30% | 2.31% | 2.22% |
Class R6 | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 10.03% | 2.89% | 2.84% |
Advisor Class | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 9.87% | 2.83% | 2.78% |
Without Sales Load [Member] | Class A | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 9.57% | 2.55% | 2.51% |
Without Sales Load [Member] | Class C | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 8.69% | 1.79% | 1.75% |
Without Sales Load [Member] | Class R | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 9.30% | 2.31% | 2.22% |
Without Sales Load [Member] | Class R6 | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 10.03% | 2.89% | 2.84% |
Without Sales Load [Member] | Advisor Class | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 9.87% | 2.83% | 2.78% |
Class A-MSCI All Country World Index-NR [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 23.56% | 11.67% | 8.40% |
Class A-HFRX Global Hedge Fund Index [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 5.89% | 3.46% | 1.59% |
Class A-ICE BofA U.S. 3-Month Treasury Bill Index [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 5.45% | 2.12% | 1.47% |
Class C-MSCI All Country World Index-NR [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 23.56% | 11.67% | 8.40% |
Class C-HFRX Global Hedge Fund Index [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 5.89% | 3.46% | 1.59% |
Class C-ICE BofA U.S. 3-Month Treasury Bill Index [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 5.45% | 2.12% | 1.47% |
Class R-MSCI All Country World Index-NR [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 23.56% | 11.67% | 8.40% |
Class R-HFRX Global Hedge Fund Index [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 5.89% | 3.46% | 1.59% |
Class R-ICE BofA U.S. 3-Month Treasury Bill Index [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 5.45% | 2.12% | 1.47% |
Class R6-MSCI All Country World Index-NR [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 23.56% | 11.67% | 8.40% |
Class R6-HFRX Global Hedge Fund Index [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 5.89% | 3.46% | 1.59% |
Class R6-ICE BofA U.S. 3-Month Treasury Bill Index [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 5.45% | 2.12% | 1.47% |
Advisor Class-MSCI All Country World Index-NR [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 23.56% | 11.67% | 8.40% |
Advisor Class-HFRX Global Hedge Fund Index [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 5.89% | 3.46% | 1.59% |
Advisor Class-ICE BofA U.S. 3-Month Treasury Bill Index [Member] | |||
Average Annual Return [Line Items] | |||
Average Annual Return, Percent | 5.45% | 2.12% | 1.47% |
Shareholder Report, Holdings (D
Shareholder Report, Holdings (Details) | May 31, 2024 |
Class A | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 195.10% |
Percent of Net Short Exposure | (196.80%) |
Class A | Long Short Equity [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 43.20% |
Percent of Net Short Exposure | (32.40%) |
Class A | Relative Value [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 51.60% |
Percent of Net Short Exposure | (26.10%) |
Class A | Event Driven [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 2.30% |
Percent of Net Short Exposure | (2.00%) |
Class A | Global Macro [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 95% |
Percent of Net Short Exposure | (136.30%) |
Class A | Strategic Overlay [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 3% |
Percent of Net Short Exposure | 0% |
Class C | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 195.10% |
Percent of Net Short Exposure | (196.80%) |
Class C | Long Short Equity [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 43.20% |
Percent of Net Short Exposure | (32.40%) |
Class C | Relative Value [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 51.60% |
Percent of Net Short Exposure | (26.10%) |
Class C | Event Driven [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 2.30% |
Percent of Net Short Exposure | (2.00%) |
Class C | Global Macro [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 95% |
Percent of Net Short Exposure | (136.30%) |
Class C | Strategic Overlay [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 3% |
Percent of Net Short Exposure | 0% |
Class R | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 195.10% |
Percent of Net Short Exposure | (196.80%) |
Class R | Long Short Equity [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 43.20% |
Percent of Net Short Exposure | (32.40%) |
Class R | Relative Value [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 51.60% |
Percent of Net Short Exposure | (26.10%) |
Class R | Event Driven [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 2.30% |
Percent of Net Short Exposure | (2.00%) |
Class R | Global Macro [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 95% |
Percent of Net Short Exposure | (136.30%) |
Class R | Strategic Overlay [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 3% |
Percent of Net Short Exposure | 0% |
Class R6 | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 195.10% |
Percent of Net Short Exposure | (196.80%) |
Class R6 | Long Short Equity [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 43.20% |
Percent of Net Short Exposure | (32.40%) |
Class R6 | Relative Value [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 51.60% |
Percent of Net Short Exposure | (26.10%) |
Class R6 | Event Driven [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 2.30% |
Percent of Net Short Exposure | (2.00%) |
Class R6 | Global Macro [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 95% |
Percent of Net Short Exposure | (136.30%) |
Class R6 | Strategic Overlay [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 3% |
Percent of Net Short Exposure | 0% |
Advisor Class | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 195.10% |
Percent of Net Short Exposure | (196.80%) |
Advisor Class | Long Short Equity [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 43.20% |
Percent of Net Short Exposure | (32.40%) |
Advisor Class | Relative Value [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 51.60% |
Percent of Net Short Exposure | (26.10%) |
Advisor Class | Event Driven [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 2.30% |
Percent of Net Short Exposure | (2.00%) |
Advisor Class | Global Macro [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 95% |
Percent of Net Short Exposure | (136.30%) |
Advisor Class | Strategic Overlay [Member] | |
Holdings [Line Items] | |
Percent of Net Long Exposure | 3% |
Percent of Net Short Exposure | 0% |