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ABESX Aberdeen Tax-Free Income Instl Svc

  • Fund
  • ABESX
  • Price as of: Oct 17, 2018
  • $9.56
  • - $0.00
  • - 0.00%
  • Category
  • National Munis

ABESX - Profile

Vitals

  • YTD Return -3.0%
  • 3 Yr Annualized Return -2.2%
  • 5 Yr Annualized Return -1.2%
  • Net Assets $74.1 M
  • Holdings in Top 10 33.6%

52 WEEK LOW AND HIGH

$9.56
$9.55
$9.93

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.86%

SALES FEES

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

BROKERAGE FEES

  • Turnover 16.25%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

N/A

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Interm

Distributions

  • YTD Total Return -3.0%
  • 3 Yr Annualized Total Return -2.2%
  • 5 Yr Annualized Total Return -0.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.10%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Aberdeen Tax-Free Income Fund
  • Fund Family Name Aberdeen
  • Inception Date Feb 25, 2013
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Edward Grant

Fund Description

The fund invests at least 80% of the value of its net assets, plus any borrowings for investment purposes, in investment grade fixed income securities that qualify as tax-exempt municipal obligations. It may invest in specific types of municipal obligations, including tax-exempt zero-coupon securities, auction rate securities and floating- and variable-rate bonds.

ABESX - Performance

Return Ranking - Trailing

Period ABESX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.0% -13.2% 99.4% 44.66% 4
1 Yr -3.8% -5.8% 10.7% 96.42% 5
3 Yr -2.2% * -4.5% 7.0% 98.28% 5
5 Yr -1.2% * -0.5% 5.8% 98.42% 5
10 Yr N/A * -0.1% 7.3% N/A N/A

* Annualized


Return Ranking - Calendar

Period ABESX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 0.0% -5.3% 5.6% 60.64% 5
2016 -3.1% -8.5% 7.3% 51.28% 4
2015 -1.6% -10.9% 8.8% 60.34% 5
2014 3.5% -10.3% 12.0% 39.05% 3
2013 N/A -11.9% 8.7% N/A N/A

Total Return Ranking - Trailing

Period ABESX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.0% -13.2% 99.4% 44.34% 4
1 Yr -3.8% -8.9% 8.9% 88.27% 5
3 Yr -2.2% * -5.4% 7.0% 98.28% 5
5 Yr -0.9% * -1.3% 5.8% 98.24% 5
10 Yr N/A * -0.1% 7.3% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period ABESX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 0.0% -5.3% 5.6% 61.32% 5
2016 -3.1% -8.2% 7.3% 54.87% 4
2015 -1.6% -9.7% 9.3% 66.50% 5
2014 3.9% -10.3% 17.0% 43.43% 3
2013 N/A -11.9% 8.9% N/A N/A

NAV & Total Return History

ABESX - Holdings

Filings data as of: Aug 31, 2018

Concentration Analysis

ABESX Category Low Category High ABESX % Rank Quintile
Net Assets 74.1 M 491 K 58.9 B 36.23% 5
Number of Holdings 80 1 7784 33.23% 5
Net Assets in Top 10 25.2 M -281 M 1.62 B 34.19% 5
Weighting of Top 10 33.6% 0.0% 100.0% 3.39% 1

Top 10 Holdings

  1. HARRIS CNTY TEX HEALTH FACS DEV CORP 5.75% 8.42%
  2. PENNSYLVANIA ST TPK COMMN 5.25% 6.62%
  3. NEW YORK ST DORM AUTH 5% 3.46%
  4. NEW JERSEY ECONOMIC DEV AUTH 5.25% 2.83%
  5. WASHINGTON ST 5% 2.72%
  6. TEXAS MUN GAS ACQUISITION & SUPPLY CORP I GAS SUPPLY 6.25% 2.35%
  7. HOUSTON TEX 5% 1.95%
  8. NEW YORK ST DORM AUTH 5.5% 1.81%
  9. ST CHARLES PARISH LA 4% 1.78%
  10. SOUTHEAST ALA GAS SUPPLY DIST 2.24% 1.66%

Asset Allocation

Weighting Category Low Category High ABESX % Rank Quintile
Bonds
98.30% 0.00% 202.21% 12.08% 3
Cash
1.70% -110.85% 100.00% 19.03% 3
Stocks
0.00% 0.00% 0.32% 0.97% 5
Preferred Stocks
0.00% 0.00% 10.25% 0.81% 5
Other
0.00% -2.77% 28.44% 5.32% 5
Convertible Bonds
0.00% 0.00% 2.31% 0.97% 5

Bond Sector Breakdown

Weighting Category Low Category High ABESX % Rank Quintile
Municipal
98.30% 0.00% 119.70% 12.10% 3
Cash & Equivalents
1.70% -110.85% 100.00% 18.23% 3
Derivative
0.00% -5.91% 0.85% 0.65% 5
Securitized
0.00% 0.00% 39.64% 2.42% 5
Corporate
0.00% 0.00% 39.39% 5.00% 5
Government
0.00% -20.76% 117.34% 5.48% 5

Bond Geographic Breakdown

Weighting Category Low Category High ABESX % Rank Quintile
US
98.30% 0.00% 202.21% 12.42% 3
Non US
0.00% 0.00% 20.91% 12.90% 5

ABESX - Expenses

Operational Fees

ABESX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.86% 0.08% 4.60% 15.46% 3
Management Fee 0.43% 0.00% 0.65% 2.58% 4
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.25% 0.00% 0.35% 1.86% 5

Sales Fees

ABESX Fees (% of AUM) Category Low Category High ABESX Rank Quintile
Front Load N/A 0.50% 5.75% N/A N/A
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

ABESX Fees (% of AUM) Category Low Category High ABESX Rank Quintile
Max Redemption Fee 2.00% 0.25% 2.00% 1.67% 5

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.

ABESX Fees (% of AUM) Category Low Category High ABESX Rank Quintile
Turnover 16.25% 0.00% 504.54% 15.46% 2

ABESX - Distributions

Dividend Yield Analysis

ABESX Category Low Category High ABESX % Rank Quintile
Dividend Yield 0.3% 0.00% 1.01% 19.51% 2

Dividend Distribution Analysis

ABESX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Quarterly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

ABESX Category Low Category High ABESX % Rank Quintile
Net Income Ratio 3.10% 0.01% 5.26% 12.56% 2

Capital Gain Distribution Analysis

ABESX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

ABESX - Managers

Edward Grant

Manager

Start Date

Feb 28, 2011

Tenure

7.59

Tenure Rank

11.2%

Edward Grant is a Senior Investment Manager on the North American Fixed Income team. Edward joined Aberdeen following the acquisition of Deutsche Asset Management's London and Philadelphia fixed income businesses in 2005. Before joining Aberdeen, Edward worked for PNC and Deutsche Bank Capital Corp where he was a fixed income portfolio manager. Previously, Edward worked for Raymond James & Associates as head of corporate research. Prior to that, Edward worked for American Century Investments and ING Investment Management as credit analyst. Edward graduated with a BS from Lebanon Valley College, Pennsylvania, and a MBA from Widener University, Pennsylvania.


Lesya Paisley

Manager

Start Date

Dec 31, 2015

Tenure

2.75

Tenure Rank

16.9%

Lesya Paisley is a Senior Investment Manager on the North American Fixed Income team. Previously, Lesya spent over ten years in credit research covering various industrial sectors. Lesya joined Aberdeen via the acquisition of Deutsche Asset Management's London and Philadelphia fixed income businesses in 2005. She had been with DeAM from September 2003. Lesya graduated with a BS from the University of Virginia, McIntire School of Commerce.


Tenure Analysis

Category Low

0.0

Category High

39.0

Category Average

7.96

Category Mode

3.8