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AAIFX Crow Point Alternative Income Investor

  • Fund
  • AAIFX
  • Price as of: Sep 18, 2018
  • $8.44
  • - $0.00
  • - 0.00%
  • Category
  • Corporate Bonds

AAIFX - Profile

Vitals

  • YTD Return -0.1%
  • 3 Yr Annualized Return 1.4%
  • 5 Yr Annualized Return 0.7%
  • Net Assets $10 M
  • Holdings in Top 10 73.8%

52 WEEK LOW AND HIGH

$8.44
$8.21
$8.60

Expenses

OPERATING RELATED FEES

  • Expense Ratio 4.25%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 268.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Investment Themes

CATEGORY

Corporate Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Nontraditional Bond

Distributions

  • YTD Total Return -0.1%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return 0.7%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.76%
DIVIDENDS
  • Dividend Yield N/A
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Crow Point Alternative Income Fund
  • Fund Family Name Crow Point
  • Inception Date Jan 13, 2012
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Peter J. DeCaprio

Fund Description

The fund seeks to achieve its investment objective under normal market conditions by allocating assets among credit related instruments such as corporate bonds, municipal bonds, mortgage and asset-backed securities, and floating rate securities. It may invest, directly and indirectly (through ETFs, ETNs, and mutual funds), in securities of issuers of any credit quality.

AAIFX - Performance

Return Ranking - Trailing

Period AAIFX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.1% -70.8% 5.1% 11.41% 1
1 Yr 3.2% -3.7% 11.3% 13.41% 1
3 Yr 1.4% * -4.0% 7.6% 89.06% 5
5 Yr 0.7% * -1.4% 7.2% 97.08% 5
10 Yr N/A * 1.7% 9.0% N/A N/A

* Annualized


Return Ranking - Calendar

Period AAIFX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 2.9% -4.6% 8.3% 19.92% 2
2016 -0.2% -11.3% 344.7% 67.44% 5
2015 -6.8% -18.3% 2.3% 53.88% 4
2014 N/A -8.0% 12.3% N/A N/A
2013 N/A -24.8% 5.2% N/A N/A

Total Return Ranking - Trailing

Period AAIFX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.1% -70.8% 5.1% 11.41% 1
1 Yr 3.2% -7.7% 17.6% 10.73% 1
3 Yr 1.4% * -4.0% 7.6% 83.59% 5
5 Yr 0.7% * -1.4% 7.2% 97.08% 5
10 Yr N/A * 1.5% 9.0% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period AAIFX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 2.9% -4.1% 8.3% 20.61% 2
2016 -0.2% -7.4% 376.9% 73.64% 5
2015 -4.3% -12.2% 5.7% 49.22% 3
2014 N/A -8.0% 27.7% N/A N/A
2013 N/A -11.2% 10.5% N/A N/A

NAV & Total Return History

AAIFX - Holdings

Filings data as of: Jun 30, 2018

Concentration Analysis

AAIFX Category Low Category High AAIFX % Rank Quintile
Net Assets 10 M 435 K 29.1 B 39.92% 5
Number of Holdings 57 5 2215 34.22% 5
Net Assets in Top 10 5.38 M -485 M 4.58 B 37.26% 5
Weighting of Top 10 73.8% 2.9% 248.3% 1.90% 1

Top 10 Holdings

  1. Structured Asset Securities Corp. 5.48%
  2. iShares Floating Rate Bond ETF 6.99%
  3. iShares 20+ Year Treasury Bond ETF 12.01%
  4. MFS Multi-Market Income 6.96%
  5. EV Limited Duration Income 8.84%
  6. Mainstay Medical International PLC 3.47%
  7. iShares Core US Aggregate Bond ETF 16.02%
  8. Lumentum Holdings Inc 5.16%
  9. Invesco Senior Loan ETF 4.71%
  10. Invesco DB US Dollar Bullish 4.10%

Asset Allocation

Weighting Category Low Category High AAIFX % Rank Quintile
Bonds
69.52% 42.44% 180.55% 38.02% 5
Stocks
18.47% -3.83% 28.39% 0.76% 1
Cash
8.29% -84.49% 57.56% 9.51% 1
Convertible Bonds
2.06% 0.00% 19.62% 6.08% 1
Preferred Stocks
1.28% 0.00% 29.80% 9.13% 2
Other
0.38% -12.85% 24.48% 10.27% 2

Stock Sector Breakdown

Weighting Category Low Category High AAIFX % Rank Quintile
Technology
6.72% 0.00% 6.72% 0.60% 1
Healthcare
4.16% -0.88% 4.16% 0.60% 1
Industrials
2.03% -0.33% 2.60% 2.38% 1
Consumer Cyclical
1.58% -0.87% 9.82% 2.38% 1
Financial Services
1.39% 0.00% 10.19% 2.98% 1
Communication Services
0.24% -0.12% 0.52% 3.57% 1
Utilities
0.09% 0.00% 1.82% 5.36% 1
Consumer Defense
0.08% -0.17% 2.01% 4.76% 1
Basic Materials
0.02% -0.12% 1.13% 4.76% 1
Energy
0.01% -3.18% 4.72% 10.12% 2
Real Estate
0.00% 0.00% 4.99% 5.95% 5

Stock Geographic Breakdown

Weighting Category Low Category High AAIFX % Rank Quintile
US
18.40% -2.96% 20.94% 0.76% 1
Non US
0.07% -0.87% 7.45% 4.94% 1

Bond Sector Breakdown

Weighting Category Low Category High AAIFX % Rank Quintile
Corporate
31.51% 0.00% 172.70% 39.92% 5
Government
22.47% -83.86% 56.54% 6.46% 1
Securitized
18.78% 0.00% 125.78% 5.70% 1
Cash & Equivalents
8.24% -83.96% 57.56% 8.37% 1
Municipal
0.11% 0.00% 11.00% 14.45% 2
Derivative
0.00% -0.50% 58.78% 3.42% 5

Bond Geographic Breakdown

Weighting Category Low Category High AAIFX % Rank Quintile
US
61.40% 0.00% 175.54% 34.98% 5
Non US
8.12% -1.12% 59.29% 30.42% 5

AAIFX - Expenses

Operational Fees

AAIFX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 4.25% 0.00% 4.25% 0.38% 5
Management Fee 1.00% 0.00% 1.70% 1.14% 5
12b-1 Fee 0.25% 0.00% 1.00% 6.32% 3
Administrative Fee N/A 0.01% 0.40% N/A N/A

Sales Fees

AAIFX Fees (% of AUM) Category Low Category High AAIFX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 0.00% 5.50% N/A N/A

Trading Fees

AAIFX Fees (% of AUM) Category Low Category High AAIFX Rank Quintile
Max Redemption Fee N/A 1.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

AAIFX Fees (% of AUM) Category Low Category High AAIFX Rank Quintile
Turnover 268.00% 6.00% 1515.00% 3.42% 5

AAIFX - Distributions

Dividend Yield Analysis

AAIFX Category Low Category High AAIFX % Rank Quintile
Dividend Yield N/A 0.05% 2.25% N/A N/A

Dividend Distribution Analysis

AAIFX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

AAIFX Category Low Category High AAIFX % Rank Quintile
Net Income Ratio 0.76% -0.09% 5.67% 68.44% 5

Capital Gain Distribution Analysis

AAIFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency N/A Annually Monthly Annually

AAIFX - Managers

Peter J. DeCaprio

Manager

Start Date

Feb 29, 2016

Tenure

2.5

Tenure Rank

17.2%

Peter DeCaprio co-founded Crow Point Partners in 2006 and serves as the firm’s Chief Executive Officer. Previously, Mr. DeCaprio worked at Evergreen Investments as a senior analyst covering the utility, telecommunications, and media sectors, and was a senior equity analyst at Thomas Weisel Partners. He has also worked as an analyst at BancBoston Robertson Stephens, Dillon Read and Co. Inc., Houlihan Lokey Howard and Zukin, and TIAA-CREF. He is a graduate of Duke University’s Fuqua School of Business, where he received his MBA, and Tufts University where he received a Bachelor of Arts degree.


Andrew Tuttle

Manager

Start Date

Feb 29, 2016

Tenure

2.5

Tenure Rank

17.2%

Andrew Tuttle has more than thirteen years investment experience in investment banking, distressed debt, equity research and portfolio management. In addition to his current duties as a portfolio manager, Mr. Tuttle is also Crow Point’s research director and covers all industry sectors. Previously, he worked at Cantor Fitzgerald, Jefferies & Co., Thomas Weisel Partners, and First Union National Bank. He is a graduate of Columbia University, where he received his MBA, and the College of William and Mary, where he received a Bachelor of Arts degree. Mr. Tuttle is a Chartered Financial Analyst.


David R. Cleary

Manager

Start Date

Oct 31, 2017

Tenure

0.83

Tenure Rank

20.4%

David Cleary, CFA is a principal and portfolio manager at Crow Point Partners. Previously he spent 23 years at Lazard Asset Management where he held a series of senior portfolio management roles over multi asset and global fixed income strategies. He additionally served as the firm's global head of fixed income, a $26 billion platform. Prior to Lazard, David worked at UBS and IBJ Schroder, mostly in fixed income asset management roles. He began working in the asset management field in 1987 upon his graduation from Cornell University, with a BS in Business Management and Applied Economics. He is a CFA charterholder.


Tenure Analysis

Category Low

0.1

Category High

31.3

Category Average

6.23

Category Mode

3.7