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Credit Opportunities Fund

Summary

Summary

What is the Credit Opportunities Fund?

The Fund seeks to deliver high current income and total return through a flexible strategy investing across a broad range of global fixed income sectors.

A LEADER IN CREDIT

An investment team with proven capabilities across corporate credit and structured product sectors.

A FLEXIBLE APPROACH

Flexibility to capture opportunities across multiple sectors of the global fixed income markets.

AN EXPANDED OPPORTUNITY SET

Potential for enhanced yield and return in less liquid sectors of fixed income markets through an interval fund structure.

Dividend Yield 1 as of 01/17/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 7.87% 7.26%

30-Day Standardized Yield 2 as of 12/31/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.96% 0.00%

Fund Basicsas of 12/31/2019

Total Net Assets
$60.97 M
Inception Date
02/22/2019
Dividend Frequency
Monthly
Fund Gross Expense Ratio
2.11%
Fund Net Expense Ratio
1.50%
Number of Holdings
130
Minimum Initial Investment
$1,000,000+

Fund Expense Ratio :

Gross 2.11%

Net 1.50%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/21/2019
w/o sales charge - - - - - 6.19%
Lipper Category Avg. - - - - - -
ICE BofAML U.S. High Yield Constrained Index - - - - - 8.14%

Fund Expense Ratio :

Gross 2.11%

Net 1.50%

Fund Expense Ratio :

Gross 2.11%

Net 1.50%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/21/2019
w/o sales charge - - - - - 6.19%
Lipper Category Avg. - - - - - -
ICE BofAML U.S. High Yield Constrained Index - - - - - 8.14%

Fund Expense Ratio :

Gross 2.11%

Net 1.50%

RELATED CONTENT

What Is an Interval Fund?
April 16, 2019

Interval funds can allocate to asset classes that are less liquid than those typically found in mutual funds but may offer the potential to generate higher long-term returns.

 

LEAD PORTFOLIO MANAGERS

lapin

Jeffrey D. Lapin, J.D.
Partner & Portfolio Manager
22 Years of Industry Experience

yuoh

Kewjin Yuoh
Partner & Portfolio Manager
25 Years of Industry Experience

 

INVESTMENT COUNCIL

rocco

Steven F. Rocco, CFA
Partner & Director of Taxable Fixed Income
18 Years of Industry Experience

kang

Eric P. Kang
Portfolio Manager
20 Years of Industry Experience

gizzo

Christopher Gizzo, CFA
Managing Director & Portfolio Manager
11 Years of Industry Experience

kurtz

Alan R. Kurtz
Portfolio Manager
19 Years of Industry Experience

Solomon-Todd_headshot

Todd Solomon
Portfolio Manager
23 Years of Industry Experience

rajguru

Manish S. Rajguru, CFA
Portfolio Manager
28 Years of Industry Experience

morton

John J. Morton, CFA
Portfolio Manager
34 Years of Industry Experience

castle

Adam C. Castle, CFA
Portfolio Manager
11 Years of Industry Experience

lombardi

Annika Lombardi
Portfolio Manager 
12 Years of Industry Experience

Supported By 60 Investment Professionals with 15 Years Avg. Industry Experience

Performance

Performance

Dividend Yield 1 as of 01/17/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 7.87% 7.26%

30-Day Standardized Yield 2 as of 12/31/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.96% 0.00%

Fund Expense Ratio :

Gross 2.11%

Net 1.50%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/21/2019
w/o sales charge - - - - - 6.19%
Lipper Category Avg. - - - - - -
ICE BofAML U.S. High Yield Constrained Index - - - - - 8.14%

Fund Expense Ratio :

Gross 2.11%

Net 1.50%

Fund Expense Ratio :

Gross 2.11%

Net 1.50%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 02/21/2019
w/o sales charge - - - - - 6.19%
Lipper Category Avg. - - - - - -
ICE BofAML U.S. High Yield Constrained Index - - - - - 8.14%

Fund Expense Ratio :

Gross 2.11%

Net 1.50%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
U.S. High Yield Corporate
Bank Loans
CLO
CMBS
Emerging Market
Convertibles
Non-U.S. High Yield Corporate
U.S. Investment Grade Corporate
ABS
U.S. Government Related
Non-U.S. Investment Grade Corporate
Cash
Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

Credit Quality Distribution as of 12/31/2019

Rating Assets
U.S. Treasury
A
BBB
BB
B
<B
Not Rated

Portfolio Details as of 12/31/2019

Total Net Assets
$60.97 M
Number of Issues
130
Average Coupon
6.95%
Average Life
4.85 Years
Average Maturity
6.4 Years
Average Effective Duration
1.47 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 01/17/2020
$0
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 12/31/2019 $0.06627 $9.99
Daily Daily 11/30/2019 $0.06467 $9.82
Daily Daily 10/31/2019 $0.05778 $9.84
Daily Daily 09/30/2019 $0.06131 $9.91
Daily Daily 08/31/2019 $0.05825 $9.89
Daily Daily 07/31/2019 $0.05651 $10.11
Daily Daily 06/30/2019 $0.05614 $10.12
Daily Daily 05/31/2019 $0.06217 $10.01
Daily Daily 04/30/2019 $0.06347 $10.14
Daily Daily 03/31/2019 $0.05596 $10.05

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 01/31/2020
Daily Daily 02/29/2020
Daily Daily 03/31/2020
Daily Daily 04/30/2020
Daily Daily 05/31/2020
Daily Daily 06/30/2020
Daily Daily 07/31/2020
Daily Daily 08/31/2020
Daily Daily 09/30/2020
Daily Daily 10/31/2020
Daily Daily 11/30/2020
Daily Daily 12/31/2020

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/17/2019 12/18/2019 $0.0015 $0.0054 $0.0069 $9.96

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
07/30/2020 07/31/2020

Fees & Expenses

Fees & Expenses

Expense Ratio

Fund Gross Expense Ratio Fund Net Expense Ratio
2.11% 1.50%

Fund Documents

Fund Documents

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SAI
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Publish Date:11/03/2015

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