1290 Funds
05/19/2026 | Press release | Distributed by Public on 05/19/2026 11:55
Summary Prospectus by Investment Company (Form 497K)
1290 Funds®
1290 Avantis® U.S. Large Cap Growth Fund
1290 Diversified Bond Fund
1290 Essex Small Cap Growth Fund
1290 GAMCO Small/Mid Cap Value Fund
1290 High Yield Bond Fund
1290 Loomis Sayles Multi-Asset Income Fund
1290 Multi-Alternative Strategies Fund
1290 SmartBeta Equity Fund
SUPPLEMENT DATED MAY 19, 2026 TO THE SUMMARY PROSPECTUSES, PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION DATED MARCH 1, 2026, AS SUPPLEMENTED
This Supplement updates certain information contained in the Summary Prospectuses, Prospectus and Statement of Additional Information ("SAI") of 1290 Funds ("Trust") dated March 1, 2026, as supplemented. You should read this Supplement in conjunction with the Summary Prospectuses, Prospectus and SAI and retain it for future reference. You may view, print, and download these documents, free of charge, at the Trust's website at https://www.1290funds.com.
Effective immediately, the following changes are being made to the Summary Prospectuses, Prospectus and SAI:
For 1290 Avantis® U.S. Large Cap Growth Fund, 1290 Diversified Bond Fund, 1290 Essex Small Cap Growth Fund, 1290 GAMCO Small/Mid Cap Value Fund, 1290 High Yield Bond Fund, 1290 Loomis Sayles Multi-Asset Income Fund, and 1290 SmartBeta Equity Fund, the section of the Summary Prospectuses and Prospectus entitled "WHO MANAGES THE FUND - Investment Adviser: Equitable Investment Management, LLC (the "Adviser")" is amended by including the following information in the table:
| Name | Title | Date Began Managing the Fund | ||
|
Xavier Poutas, CFA® |
Vice President and Assistant Portfolio Manager of the Adviser | May 2026 | ||
|
Kevin McCarthy |
Vice President and Assistant Portfolio Manager of the Adviser | May 2026 | ||
For 1290 Multi-Alternative Strategies Fund, the section of the Summary Prospectus and Prospectus entitled "WHO MANAGES THE FUND - Investment Adviser: Equitable Investment Management, LLC (the "Adviser")" is amended by including the following information in the table:
| Name | Title | Date Began Managing the Fund | ||
|
Lee Soja, CFA® |
Vice President and Assistant Portfolio Manager of the Adviser | May 2026 | ||
The section of the Prospectus entitled "Management of the Funds - The Adviser" is amended by deleting the tenth and eleventh paragraphs in their entirety and replacing them with the following information:
The Adviser's investment personnel are primarily responsible for the selection, monitoring and oversight of each Fund's Sub-Adviser.
Kenneth T. Kozlowski, CFP®, ChFC, CLU has served as Executive Vice President and Chief Investment Officer of the Adviser since June 2022, as Executive Vice President and Chief Investment Officer of EIM since June 2012, and as Signatory Officer of Equitable Financial since November 2021. He has been an employee of Equitable Financial since 1999.
Miao Hu, CFA® has served as an Assistant Portfolio Manager of the Adviser since January 2023 and as a Vice President of the Adviser since December 2022, and as an Assistant Portfolio Manager of EIM since May 2016 and as a Vice President of EIM since June 2016. She has served as a Director of Portfolio Analytics since December 2014. She has been an employee of Equitable Financial since November 2013.
Xavier Poutas, CFA® has served as an Assistant Portfolio Manager of the Adviser since January 2023 and as a Vice President of the Adviser since December 2022, and as an Assistant Portfolio Manager of EIM since May 2011 and as a Vice President of EIM since June 2016. He has been an employee of Equitable Financial since August 2002.
Kevin McCarthy has served as an Assistant Portfolio Manager of the Adviser since January 2023 and as a Vice President of the Adviser since June 2022, and as an Assistant Portfolio Manager of EIM since December 2018 and as a Vice President of EIM since July 2022. He has been an employee of Equitable Financial since August 2015.
The Adviser, rather than a Sub-Adviser, manages the 1290 Multi-Alternative Strategies Fund. The following investment personnel of the Adviser are primarily responsible for the selection of the investments in Underlying ETFs for the 1290 Multi-Alternative Strategies Fund: Messrs. Kozlowski, Poutas and McCarthy, Ms. Hu, and Lee Soja.
Lee Soja, CFA® began serving as an Assistant Portfolio Manager and Vice President of the Adviser and EIM in 2026 and has been an employee of Equitable Financial since 2019.
***
The section of the SAI entitled "Appendix B - Portfolio Manager Information - Equitable Investment Management, LLC" is amended to include the following information:
|
Portfolio Manager |
Presented below for each portfolio manager is the number of other accounts managed by the portfolio manager and the total assets in the accounts managed within each category as of April 30, 2026 |
Presented below for each of the categories is the number of accounts and the total assets in the accounts with respect to which the advisory fee is based on the performance of the account |
||||||||||||||||||||||||||||||||||||||||||||||
|
Registered Investment Companies |
Other Pooled Vehicles |
Other Accounts |
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||||||||||||||||||||||||||||||||||||||||||
|
Number of Accounts |
Total Assets |
Number of Accounts |
Total Assets |
Number of Accounts |
Total Assets |
Number of Accounts |
Total Assets |
Number of Accounts |
Total Assets |
Number of Accounts |
Total Assets |
|||||||||||||||||||||||||||||||||||||
| 1290 Avantis® U.S. Large Cap Growth Fund | ||||||||||||||||||||||||||||||||||||||||||||||||
|
Miao Hu |
117 | $ | 171.37B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Xavier Poutas |
44 | $ | 79.86B | 6 | $ | 207.13M | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Kevin McCarthy |
44 | $ | 79.86B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
| 1290 Diversified Bond Fund | ||||||||||||||||||||||||||||||||||||||||||||||||
|
Miao Hu |
117 | $ | 171.37B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Xavier Poutas |
44 | $ | 79.86B | 6 | $ | 207.13M | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Kevin McCarthy |
44 | $ | 79.86B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
| 1290 Essex Small Cap Growth Fund | ||||||||||||||||||||||||||||||||||||||||||||||||
|
Miao Hu |
117 | $ | 171.37B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Xavier Poutas |
44 | $ | 79.86B | 6 | $ | 207.13M | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Kevin McCarthy |
44 | $ | 79.86B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
| 1290 GAMCO Small/Mid Cap Value Fund | ||||||||||||||||||||||||||||||||||||||||||||||||
|
Miao Hu |
117 | $ | 171.37B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Xavier Poutas |
44 | $ | 79.86B | 6 | $ | 207.13M | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Kevin McCarthy |
44 | $ | 79.86B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
| 1290 High Yield Bond Fund | ||||||||||||||||||||||||||||||||||||||||||||||||
|
Miao Hu |
117 | $ | 171.37B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Xavier Poutas |
44 | $ | 79.86B | 6 | $ | 207.13M | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Kevin McCarthy |
44 | $ | 79.86B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Portfolio Manager |
Presented below for each portfolio manager is the number of other accounts managed by the portfolio manager and the total assets in the accounts managed within each category as of April 30, 2026 |
Presented below for each of the categories is the number of accounts and the total assets in the accounts with respect to which the advisory fee is based on the performance of the account |
||||||||||||||||||||||||||||||||||||||||||||||
|
Registered Investment Companies |
Other Pooled Vehicles |
Other Accounts |
Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | |||||||||||||||||||||||||||||||||||||||||||
|
Number of Accounts |
Total Assets |
Number of Accounts |
Total Assets |
Number of Accounts |
Total Assets |
Number of Accounts |
Total Assets |
Number of Accounts |
Total Assets |
Number of Accounts |
Total Assets |
|||||||||||||||||||||||||||||||||||||
| 1290 Loomis Sayles Multi-Asset Income Fund | ||||||||||||||||||||||||||||||||||||||||||||||||
|
Miao Hu |
117 | $ | 171.37B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Xavier Poutas |
44 | $ | 79.86B | 6 | $ | 207.13M | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Kevin McCarthy |
44 | $ | 79.86B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
| 1290 Multi-Alternative Strategies Fund | ||||||||||||||||||||||||||||||||||||||||||||||||
|
Lee Soja |
0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
| 1290 SmartBeta Equity Fund | ||||||||||||||||||||||||||||||||||||||||||||||||
|
Miao Hu |
117 | $ | 171.37B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Xavier Poutas |
44 | $ | 79.86B | 6 | $ | 207.13M | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
|
Kevin McCarthy |
44 | $ | 79.86B | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||||||||||||||||||||
Ownership of Shares of the Funds as of April 30, 2026
| Portfolio Manager | None |
$1- $10,000 |
$10,001- $50,000 |
$50,001- $100,000 |
$100,001- $500,000 |
$500,001- $1,000,000 |
over $1,000,000 |
|||||||||||||||||||
| 1290 Avantis® U.S. Large Cap Growth Fund | ||||||||||||||||||||||||||
|
Maio Hu |
X | |||||||||||||||||||||||||
|
Xavier Poutas |
X | |||||||||||||||||||||||||
|
Kevin McCarthy |
X | |||||||||||||||||||||||||
| 1290 Diversified Bond Fund | ||||||||||||||||||||||||||
|
Miao Hu |
X | |||||||||||||||||||||||||
|
Xavier Poutas |
X | |||||||||||||||||||||||||
|
Kevin McCarthy |
X | |||||||||||||||||||||||||
| 1290 Essex Small Cap Growth Fund | ||||||||||||||||||||||||||
|
Miao Hu |
X | |||||||||||||||||||||||||
|
Xavier Poutas |
X | |||||||||||||||||||||||||
|
Kevin McCarthy |
X | |||||||||||||||||||||||||
| 1290 GAMCO Small/Mid Cap Value Fund | ||||||||||||||||||||||||||
|
Maio Hu |
X | |||||||||||||||||||||||||
|
Xavier Poutas |
X | |||||||||||||||||||||||||
|
Kevin McCarthy |
X | |||||||||||||||||||||||||
| 1290 High Yield Bond Fund | ||||||||||||||||||||||||||
|
Maio Hu |
X | |||||||||||||||||||||||||
|
Xavier Poutas |
X | |||||||||||||||||||||||||
|
Kevin McCarthy |
X | |||||||||||||||||||||||||
| 1290 Loomis Sayles Multi-Asset Income Fund | ||||||||||||||||||||||||||
|
Miao Hu |
X | |||||||||||||||||||||||||
|
Xavier Poutas |
X | |||||||||||||||||||||||||
|
Kevin McCarthy |
X | |||||||||||||||||||||||||
| 1290 Multi-Alternative Strategies Fund | ||||||||||||||||||||||||||
|
Lee Soja |
X | |||||||||||||||||||||||||
| 1290 SmartBeta Equity Fund | ||||||||||||||||||||||||||
|
Miao Hu |
X | |||||||||||||||||||||||||
|
Xavier Poutas |
X | |||||||||||||||||||||||||
|
Kevin McCarthy |
X | |||||||||||||||||||||||||
1290 Funds published this content on May 19, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on May 19, 2026 at 17:55 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]