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AEQAX Ascendant Deep Value Bond A

  • Fund
  • AEQAX
  • Price as of: Apr 22, 2019
  • $11.96
  • - $0.02
  • - 0.17%
  • Category
  • Preferred Stock/Convertible Bonds

AEQAX - Profile

Vitals

  • YTD Return 3.9%
  • 3 Yr Annualized Return 3.1%
  • 5 Yr Annualized Return -0.7%
  • Net Assets $40.7 M
  • Holdings in Top 10 88.8%

52 WEEK LOW AND HIGH

$11.96
$11.37
$12.45

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.44%

SALES FEES

  • Front Load 5.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 8.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$1,000

Investment Themes

CATEGORY

Preferred Stock/Convertible Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Multisector Bond

Distributions

  • YTD Total Return 3.9%
  • 3 Yr Annualized Total Return 1.1%
  • 5 Yr Annualized Total Return -1.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.19%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Ascendant Deep Value Bond Fund
  • Fund Family Name Ascendant
  • Inception Date Oct 05, 2011
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager James H. Lee

Fund Description

The fund invests at least 80% of its net assets (plus any borrowings) in open-end investment companies (mutual funds), closed-end funds and exchange-traded funds ("ETFs") (collectively, "underlying funds") that primarily invest in bonds and other fixed-income securities. Such fixed income securities may be issued by U.S. or foreign companies, without restriction as to issuer country, market capitalization or maturity. The securities are purchased without restriction as to credit quality, including those with below investment grade credit quality, commonly known as "junk bonds."

AEQAX - Performance

Return Ranking - Trailing

Period AEQAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.9% -3.2% 14.9% 80.73% 5
1 Yr -0.6% -10.4% 27.2% 94.50% 5
3 Yr 3.1% * 2.1% 15.1% 97.06% 5
5 Yr -0.7% * -1.4% 9.6% 99.00% 5
10 Yr N/A * 4.2% 15.9% N/A N/A

* Annualized


Return Ranking - Calendar

Period AEQAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -5.4% -15.3% 14.2% 15.53% 1
2017 5.1% -13.0% 14.8% 50.49% 3
2016 0.8% -13.0% 8.7% 66.02% 4
2015 -9.9% -17.9% 21.4% 60.78% 4
2014 -5.3% -10.2% 21.3% 87.25% 5

Total Return Ranking - Trailing

Period AEQAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.9% -3.2% 14.9% 80.73% 5
1 Yr -6.3% -9.6% 27.2% 98.17% 5
3 Yr 1.1% * 1.1% 17.3% 100.00% 5
5 Yr -1.8% * -1.8% 9.6% 100.00% 5
10 Yr N/A * 4.2% 15.9% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period AEQAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -5.4% -15.3% 14.2% 15.53% 1
2017 5.1% -7.8% 14.8% 52.43% 3
2016 1.2% -9.2% 22.3% 82.52% 5
2015 -6.6% -17.5% 31.6% 80.39% 5
2014 -1.8% -9.5% 34.1% 96.08% 5

NAV & Total Return History

AEQAX - Holdings

Filings data as of: Dec 31, 2018

Concentration Analysis

AEQAX Category Low Category High AEQAX % Rank Quintile
Net Assets 40.7 M 2.58 M 6.99 B 31.19% 5
Number of Holdings 13 7 309 28.44% 5
Net Assets in Top 10 32.6 M -62.9 M 1.08 B 28.44% 5
Weighting of Top 10 88.8% 13.2% 102.9% 1.83% 1

Top 10 Holdings

  1. AlphaCentric Income Opportunities I 31.15%
  2. Deer Park Total Return Credit I 17.15%
  3. Goodrich Petroleum Corp 0.00%
  4. Highland Floating Rate Opportunities Fd 25.52%
  5. Wynn Las Vegas, LLC/Wynn Las Vegas Capital Corp. 5.5% 0.38%
  6. Columbia Mortgage Opportunities Inst 4.96%
  7. Putnam Mortgage Opportunities I 2.53%
  8. iShares 20+ Year Treasury Bond ETF 7.06%
  9. Vanguard Natural Resources Inc 0.00%

Asset Allocation

Weighting Category Low Category High AEQAX % Rank Quintile
Bonds
81.17% -50.44% 81.17% 0.92% 1
Cash
13.67% 0.00% 61.59% 3.67% 1
Preferred Stocks
3.04% 0.00% 81.38% 28.44% 5
Stocks
1.93% 0.00% 32.36% 22.94% 4
Other
0.18% 0.00% 51.16% 13.76% 2
Convertible Bonds
0.00% 0.00% 98.47% 32.11% 5

Stock Sector Breakdown

Weighting Category Low Category High AEQAX % Rank Quintile
Real Estate
0.71% 0.00% 32.62% 4.85% 1
Basic Materials
0.22% -0.20% 1.54% 12.62% 3
Communication Services
0.16% -0.57% 4.45% 6.80% 2
Energy
0.06% -0.40% 1.17% 6.80% 1
Utilities
0.01% 0.00% 8.38% 18.45% 3
Technology
0.01% 0.00% 5.93% 10.68% 2
Industrials
0.00% -0.07% 3.35% 16.50% 5
Healthcare
0.00% 0.00% 5.05% 16.50% 5
Financial Services
0.00% 0.00% 4.71% 16.50% 5
Consumer Defense
0.00% 0.00% 3.89% 6.80% 5
Consumer Cyclical
0.00% 0.00% 5.73% 8.74% 5

Stock Geographic Breakdown

Weighting Category Low Category High AEQAX % Rank Quintile
US
1.81% 0.00% 32.36% 22.94% 4
Non US
0.12% 0.00% 4.56% 8.26% 2

Bond Sector Breakdown

Weighting Category Low Category High AEQAX % Rank Quintile
Securitized
56.03% 0.00% 56.03% 0.92% 1
Corporate
20.34% 18.82% 99.43% 31.19% 5
Cash & Equivalents
13.67% 0.00% 65.22% 3.67% 1
Government
6.56% -56.81% 6.56% 0.92% 1
Derivative
1.28% -5.64% 1.28% 0.92% 1
Municipal
0.00% 0.00% 0.03% 1.83% 5

Bond Geographic Breakdown

Weighting Category Low Category High AEQAX % Rank Quintile
US
77.87% -54.82% 77.87% 0.92% 1
Non US
3.30% 0.00% 22.35% 8.26% 2

AEQAX - Expenses

Operational Fees

AEQAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 2.44% 0.34% 4.01% 5.50% 5
Management Fee 1.15% 0.26% 1.15% 0.92% 5
12b-1 Fee 0.25% 0.00% 1.00% 11.76% 3
Administrative Fee 0.08% 0.01% 0.40% 18.18% 4

Sales Fees

AEQAX Fees (% of AUM) Category Low Category High AEQAX Rank Quintile
Front Load 5.75% 2.00% 5.75% 4.17% 5
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

AEQAX Fees (% of AUM) Category Low Category High AEQAX Rank Quintile
Max Redemption Fee 2.00% 1.00% 2.00% 7.14% 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.

AEQAX Fees (% of AUM) Category Low Category High AEQAX Rank Quintile
Turnover 8.00% 7.00% 423.00% 30.28% 1

AEQAX - Distributions

Dividend Yield Analysis

AEQAX Category Low Category High AEQAX % Rank Quintile
Dividend Yield 0.0% 0.00% 3.59% 96.33% 5

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

AEQAX Category Low Category High AEQAX % Rank Quintile
Net Income Ratio 2.19% -1.25% 5.51% 41.28% 3

Capital Gain Distribution Analysis

AEQAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

AEQAX - Managers

James H. Lee

Manager

Start Date

Mar 27, 2014

Tenure

5.01

Tenure Rank

16.8%

James H. Lee has served as the President of Ascendant Advisors Group, LLC since 2009 and serves on the Investment Committee since its inception. He is a Member, Investment Committee Member, Founder and Former President of Momentum Securities, LLC (1999-2003); and was E&Y Entrepreneur of the Year 2001. Former Chairman of the Board of Trustees, Teachers Retirement System of Texas from 2006 to 2009 and Former Trustee, Texas Growth Fund (2008-2009) and worked in The First Boston Corporation M&A Group in the early 1990s. Mr. Lee attended the University of Texas at Austin (MBA), University of Texas at Austin (BBA, Finance), and London Business School (Executive Hedge Fund Program).


Tenure Analysis

Category Low

0.0

Category High

33.8

Category Average

9.21

Category Mode

4.3