Investment Grade Floating Rate Fund

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Investment Grade Floating Rate Fund

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Summary

Summary

What is the Investment Grade Floating Rate Fund?

The Fund’s investment objective is to seek a high level of current income by investing primarily in a broad range of investment grade, floating rate instruments.

 

DEEP CREDIT EXPERTISE

Leverages the firm’s 50+ year history in multi-sector credit investing

HIGH QUALITY WITH LOW DURATION

A high quality portfolio designed to have limited interest rate exposure by investing primarily in investment grade securities with floating rate coupons

EXPANDED OPPORUNITY SET

Deep domain knowledge of sector specialists across Securitized Products and Corporate Credit provides a wide opportunity set for investment

Yield

Average Yield to Maturity as of 04/30/2024

6.76%

30-Day Standardized Yield 1 as of 04/30/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 6.54% 5.38%

Fund Basicsas of 04/30/2024

Total Net Assets
$13.10 M
Inception Date
05/01/2023*
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.95%
Fund Net Expense Ratio
0.55%
Number of Holdings
83
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/04/2023
w/o sales charge 3.02% - - - - 9.30%
Lipper Category Avg. Loan Participation Funds 2.75% - - - - -
w/ sales charge 0.73% - - - - 6.84%

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/04/2023
w/o sales charge 2.45% - - - - 8.70%
Lipper Category Avg. Loan Participation Funds 2.29% - - - - -
w/ sales charge 0.18% - - - - 6.26%

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

INVESTMENT TEAM

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

16 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Partner, Portfolio Manager

21 Years of Industry Experience

Harris Trifon
Harris Trifon

Partner, Portfolio Manager

24 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

33 Years of Industry Experience

Supported By 82 Investment Professionals with 18 Years Avg. Industry Experience

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Performance

Performance

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/04/2023
w/o sales charge 3.02% - - - - 9.30%
Lipper Category Avg. Loan Participation Funds 2.75% - - - - -
w/ sales charge 0.73% - - - - 6.84%

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/04/2023
w/o sales charge 2.45% - - - - 8.70%
Lipper Category Avg. Loan Participation Funds 2.29% - - - - -
w/ sales charge 0.18% - - - - 6.26%

Fund Expense Ratio :

Gross 1.95%

Net 0.55%

Portfolio

Portfolio

Type Assets
CLO
ABS
Bank Loans
MBS Other
Investment Grade Bonds
Other
Cash
Rating Assets
12-12.99 yrs
2-2.99 yrs
10-10.99 yrs
3-3.99 yrs
6-6.99 yrs
7-7.99 yrs
11-11.99 yrs
9-9.99 yrs
19-19.99 yrs
4-4.99 yrs
15-15.99 yrs
14-14.99 yrs
5-5.99 yrs
23-23.99 yrs
16-16.99 yrs
0-0.99 yrs

Credit Quality Distribution as of 04/30/2024

Rating Assets
U.S. Treasury
AAA
AA
A
BBB
<BBB
Not Rated

PORTFOLIO DETAILS as of 04/30/2024

Total Net Assets
$13.10 M
Average Effective Duration
0.3 Years
Average Life
2.85 Years
Number of Issues
83
Average Yield to Maturity
6.76%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 05/24/2024
$0.22302
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 04/30/2024 $0.05594 $10.20
Daily Daily 03/31/2024 $0.05788 $10.20
Daily Daily 02/29/2024 $0.05460 $10.18
Daily Daily 01/31/2024 $0.05459 $10.16

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 05/31/2024
Daily Daily 06/30/2024
Daily Daily 07/31/2024
Daily Daily 08/31/2024
Daily Daily 09/30/2024
Daily Daily 10/31/2024
Daily Daily 11/30/2024
Daily Daily 12/31/2024

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/18/2023 12/19/2023 $0.0257 $0.0481 $0.0738 $10.11

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 05/24/2024

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.50% 2.00% $10.46
$100,000 to $249,999 1.75% 1.50% $10.40
$250,000 to $499,999 1.25% 1.00% $10.35
Greater than $500,000 0.00% 1.00% $10.22

Expense Ratioas of 04/30/2024

Fund Gross Expense Ratio Fund Net Expense Ratio
1.95% 0.55%

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015

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