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ACASX Access Capital Community Investment A

  • Fund
  • ACASX
  • Price as of: Nov 15, 2018
  • $8.55
  • + $0.01
  • + 0.12%
  • Category
  • Government Bonds

ACASX - Profile

Vitals

  • YTD Return -4.5%
  • 3 Yr Annualized Return -0.1%
  • 5 Yr Annualized Return 1.0%
  • Net Assets $566 M
  • Holdings in Top 10 9.5%

52 WEEK LOW AND HIGH

$8.55
$8.51
$8.99

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.09%

SALES FEES

  • Front Load 3.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 17.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$250

Investment Themes

CATEGORY

Government Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Intermediate Government

Distributions

  • YTD Total Return -4.5%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return 0.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.01%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Access Capital Community Investment Fund
  • Fund Family Name RBC Global Asset Management.
  • Inception Date Jan 29, 2009
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Scott R. Kirby

Fund Description

The fund invests primarily in high quality debt securities and other debt instruments supporting affordable housing and community development and servicing low- and moderate-income ("LMI") individuals and communities in areas of the United States designated by fund shareholders. It seeks a competitive return consisting of current income and capital appreciation. The fund may borrow money from banks and enter into reverse repurchase agreements to obtain additional funds to make investments. It is non-diversified.

ACASX - Performance

Return Ranking - Trailing

Period ACASX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -4.5% -14.2% 6.9% 62.16% 5
1 Yr -2.8% -9.3% 56.6% 84.83% 5
3 Yr -0.1% * -2.2% 5.1% 68.73% 4
5 Yr 1.0% * -1.6% 5.5% 38.15% 2
10 Yr 2.8% * -0.1% 8.1% 38.05% 2

* Annualized


Return Ranking - Calendar

Period ACASX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -1.0% -6.8% 10.5% 44.53% 4
2016 -1.2% -9.3% 4.2% 38.90% 3
2015 -2.0% -46.1% 19.7% 46.67% 4
2014 2.0% -16.6% 41.3% 30.88% 3
2013 -5.2% -26.8% 3.3% 57.48% 4

Total Return Ranking - Trailing

Period ACASX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -4.5% -100.0% 6.9% 61.21% 5
1 Yr -6.4% -10.1% 14.8% 91.00% 5
3 Yr -1.4% * -3.0% 4.8% 90.14% 5
5 Yr 0.2% * -1.8% 5.5% 68.79% 4
10 Yr 2.4% * -0.1% 8.1% 50.94% 3

* Annualized


Total Return Ranking - Calendar

Period ACASX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -1.0% -6.8% 10.5% 47.99% 4
2016 -1.2% -7.9% 5.6% 56.20% 4
2015 -2.0% -7.8% 19.7% 65.93% 5
2014 2.0% -15.9% 51.5% 42.00% 3
2013 -5.2% -26.7% 7.1% 65.49% 5

NAV & Total Return History

ACASX - Holdings

Filings data as of: Sep 30, 2018

Concentration Analysis

ACASX Category Low Category High ACASX % Rank Quintile
Net Assets 566 M 1.19 M 21.4 B 17.78% 3
Number of Holdings 853 7 15981 2.47% 1
Net Assets in Top 10 55.7 M -179 M 9.39 B 28.15% 4
Weighting of Top 10 9.5% 0.0% 240.7% 40.25% 5

Top 10 Holdings

  1. Federal National Mortgage Association 3.5% 1.42%
  2. Government National Mortgage Association 2.2% 1.27%
  3. Government National Mortgage Association 2.89% 0.98%
  4. Federal National Mortgage Association 4% 0.85%
  5. Government National Mortgage Association 2.12% 0.85%
  6. Federal National Mortgage Association 3.5% 0.84%
  7. Federal Home Loan Mortgage Corporation 3.5% 0.84%
  8. Federal National Mortgage Association 3.79% 0.83%
  9. Fresb Mortgage Trust 3.37% 0.82%
  10. Government National Mortgage Association 2.1% 0.78%

Asset Allocation

Weighting Category Low Category High ACASX % Rank Quintile
Bonds
105.96% 0.00% 151.70% 3.95% 1
Other
0.17% -48.00% 16.74% 5.68% 2
Stocks
0.00% -1.79% 15.23% 0.99% 5
Preferred Stocks
0.00% 0.00% 4.86% 1.23% 5
Convertible Bonds
0.00% 0.00% 5.74% 1.48% 5
Cash
-6.14% -51.58% 100.00% 35.56% 5

Bond Sector Breakdown

Weighting Category Low Category High ACASX % Rank Quintile
Securitized
102.16% 0.00% 156.52% 2.96% 1
Municipal
3.54% 0.00% 19.07% 1.73% 1
Government
0.05% -64.03% 100.00% 33.58% 5
Derivative
0.00% -33.10% 4.39% 1.73% 5
Corporate
0.00% 0.00% 76.92% 14.81% 5
Cash & Equivalents
-6.14% -51.58% 100.00% 35.80% 5

Bond Geographic Breakdown

Weighting Category Low Category High ACASX % Rank Quintile
US
105.96% -1.93% 151.05% 3.95% 1
Non US
0.00% 0.00% 99.47% 15.56% 5

ACASX - Expenses

Operational Fees

ACASX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.09% 0.00% 8.57% 21.78% 4
Management Fee 0.50% 0.00% 0.95% 3.21% 4
12b-1 Fee 0.25% 0.00% 1.00% 6.67% 3
Administrative Fee 0.08% 0.00% 0.45% 6.99% 2

Sales Fees

ACASX Fees (% of AUM) Category Low Category High ACASX Rank Quintile
Front Load 3.75% 0.40% 4.75% 7.04% 3
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

ACASX Fees (% of AUM) Category Low Category High ACASX Rank Quintile
Max Redemption Fee N/A 0.25% 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.

ACASX Fees (% of AUM) Category Low Category High ACASX Rank Quintile
Turnover 17.00% 0.00% 1536.00% 30.02% 1

ACASX - Distributions

Dividend Yield Analysis

ACASX Category Low Category High ACASX % Rank Quintile
Dividend Yield 0.2% 0.00% 3.37% 29.55% 3

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

ACASX Category Low Category High ACASX % Rank Quintile
Net Income Ratio 2.01% -3.48% 4.39% 14.36% 2

Capital Gain Distribution Analysis

ACASX Category Low Category High Capital Mode
Capital Gain Distribution Frequency N/A Annually Semi-Annually Annually

ACASX - Managers

Scott R. Kirby

Manager

Start Date

Oct 29, 2012

Tenure

6.01

Tenure Rank

12.1%

Scott Kirby is a member of the rates research team in our fixed income group and serves as co-portfolio manager for our community investment strategy. Scott joined RBC GAM–US in 2012 and most recently served as manager of investments of a broad-based asset portfolio for a large foundation, supporting its mission to reduce poverty. Previously, he led the structured assets investment team of Ameriprise Financial/Riversource Investments, where he served as senior portfolio manager for more than $20 billion in agency and non-agency mortgaged-back, commercial mortgage-backed and asset-backed securities. He earned a BS in finance and an MBA in finance from the University of Minnesota Carlson School of Management.


Brian Svendahl

Manager

Start Date

Oct 01, 2006

Tenure

12.09

Tenure Rank

5.1%

Brian Svendahl oversees our fixed income research, portfolio management and trading. In addition to shaping our overall fixed income philosophy and process, he is a portfolio manager for the Access Capital Community Investing strategy and many of our government mandates. Brian joined RBC GAM-US in 2005 and most recently led the mortgage and government team before being promoted to Co-Head. He held several risk management, research and trading positions at Wells Fargo. Brian’s experience also includes liability management and implementing balance sheet hedging strategies.


Tenure Analysis

Category Low

0.0

Category High

32.9

Category Average

7.01

Category Mode

0.5