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BERIX Berwyn Income

  • Fund
  • BERIX
  • Price as of: Dec 01, 2016
  • $13.70
  • - $0.02
  • - 0.15%
  • Category
  • Diversified Portfolio

BERIX - Profile

Vitals

  • YTD Return 6.6%
  • 3 Yr Annualized Return 3.0%
  • 5 Yr Annualized Return 6.2%
  • Net Assets $1.71 B
  • Holdings in Top 10 19.9%

52 WEEK LOW AND HIGH

$13.70
$12.62
$13.85

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.64%

SALES FEES

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

BROKERAGE FEES

  • Turnover 45.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$1,000

Investment Themes

CATEGORY

Diversified Portfolio
  • Fund Type Open End Mutual Fund
  • Investment Style Allocation--30% to 50% Equity

Distributions

  • YTD Total Return 8.2%
  • 3 Yr Annualized Total Return 3.0%
  • 5 Yr Annualized Total Return 6.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.18%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Berwyn Income Fund
  • Fund Family Name Berwyn
  • Inception Date Sep 03, 1987
  • Shares Outstanding N/A
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager Robert E. Killen

Fund Description

The Berwyn Income Fund (BERIX) is a low-cost, actively managed fund that seeks to provide a high level of current income. BERIX uses a two-sided approach to achieve its objective. First, it uses a value selection method to invest in a variety of corporate-based, fixed-income securities, which can include corporate bonds, convertibles and preferred stocks. Second, the fund can hold up to 30% of its portfolio in dividend-paying equities. The dual combination provides a high level of current income.

Given its dual mandate and potential for high income, BERIX makes an ideal subcore position for those seeking a paycheck from their portfolios. The fund is managed by the Killen Group.

BERIX - Performance

Return Ranking - Trailing

Period BERIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 6.6% -66.0% 21.5% 11.50% 1
1 Yr 6.0% -35.0% 45.9% 9.42% 1
3 Yr 3.0% * -13.6% 11.8% 55.09% 3
5 Yr 6.2% * -11.6% 13.2% 49.53% 3
10 Yr 6.8% * -5.0% 8.2% 2.94% 1

* Annualized


Return Ranking - Calendar

Period BERIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -5.6% -37.7% 48.7% 34.98% 3
2014 -2.9% -59.3% 14.8% 64.01% 4
2013 6.5% -17.5% 36.4% 52.27% 3
2012 2.2% -16.2% 18.4% 81.11% 5
2011 -2.9% -30.5% 7.4% 49.11% 3

Total Return Ranking - Trailing

Period BERIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 8.2% -65.8% 30.1% 11.05% 1
1 Yr 6.0% -38.3% 73.2% 7.39% 1
3 Yr 3.0% * -14.6% 28.2% 46.17% 3
5 Yr 6.2% * -11.9% 13.2% 46.52% 3
10 Yr 6.8% * -5.0% 8.2% 2.70% 1

* Annualized


Total Return Ranking - Calendar

Period BERIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -3.4% -29.3% 50.4% 60.58% 4
2014 3.7% -54.8% 25.4% 65.42% 4
2013 19.5% -16.7% 57.2% 34.48% 2
2012 10.6% -16.2% 74.5% 70.80% 4
2011 4.4% -25.3% 15.8% 12.35% 1

NAV & Total Return History

BERIX - Holdings

Filings data as of: Jul 31, 2016

Concentration Analysis

BERIX Category Low Category High BERIX % Rank Quintile
Net Assets 1.71 B 81.4 K 99.4 B 5.21% 2
Number of Holdings 88 1 12494 11.53% 3
Net Assets in Top 10 345 M -654 M 20.2 B 8.65% 2
Weighting of Top 10 19.9% 0.2% 272.7% 25.68% 5

Top 10 Holdings

  1. Ciena Cv 0.875% 2.95%
  2. Symantec 2.75% 2.34%
  3. Brocade Comms Sys 4.625% 2.04%
  4. Nuance Comms Cv 2.75% 1.95%
  5. Apple 3.85% 1.92%
  6. Nokia 6.625% 1.60%
  7. Tivo Cv 2% 1.77%
  8. Viacom Inc New 2.5% 1.47%
  9. L-3 Comms 1.5% 2.09%
  10. Scripps Networks Interact 2.7% 1.78%

Asset Allocation

Weighting Category Low Category High BERIX % Rank Quintile
Bonds
36.75% -41.48% 107.98% 13.75% 3
Cash
28.44% -55.49% 139.25% 3.71% 1
Stocks
22.03% -49.32% 147.79% 26.22% 5
Convertible Bonds
9.04% 0.00% 33.12% 0.64% 1
Preferred Stocks
3.57% -1.01% 35.22% 2.06% 1
Other
0.17% -18.85% 98.84% 16.98% 5

Stock Sector Breakdown

Weighting Category Low Category High BERIX % Rank Quintile
Technology
9.64% -8.03% 70.04% 8.73% 2
Consumer Cyclical
3.34% -6.02% 54.37% 17.69% 4
Healthcare
2.85% -1.46% 29.90% 20.19% 4
Industrials
2.46% -4.92% 48.84% 19.78% 4
Consumer Defense
1.10% -4.74% 27.69% 19.31% 5
Basic Materials
0.93% -2.13% 21.85% 14.39% 4
Utilities
0.78% -7.18% 47.20% 11.79% 4
Financial Services
0.52% -5.07% 69.58% 24.56% 5
Real Estate
0.40% -8.01% 48.98% 17.69% 5
Energy
0.00% -2.68% 33.46% 21.26% 5
Communication Services
0.00% -2.53% 27.16% 16.11% 5

Stock Geographic Breakdown

Weighting Category Low Category High BERIX % Rank Quintile
US
15.39% -97.12% 142.85% 26.00% 5
Non US
6.64% -2.98% 150.26% 18.08% 4

Bond Sector Breakdown

Weighting Category Low Category High BERIX % Rank Quintile
Corporate
49.36% -20.43% 93.55% 1.65% 1
Cash & Equivalents
28.44% -54.77% 138.37% 3.80% 1
Securitized
0.00% -0.01% 40.54% 22.70% 5
Derivative
0.00% -84.53% 36.75% 2.84% 4
Municipal
0.00% 0.00% 91.28% 7.60% 5
Government
0.00% -91.64% 76.37% 26.13% 5

Bond Geographic Breakdown

Weighting Category Low Category High BERIX % Rank Quintile
US
35.15% -154.38% 94.16% 9.98% 2
Non US
1.60% -57.44% 198.64% 20.78% 5

BERIX - Expenses

Operational Fees

BERIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.64% 0.00% 165.34% 16.12% 2
Management Fee 0.50% 0.00% 2.55% 3.58% 3
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.83% N/A N/A

Sales Fees

BERIX Fees (% of AUM) Category Low Category High BERIX Rank Quintile
Front Load N/A 0.14% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

BERIX Fees (% of AUM) Category Low Category High BERIX Rank Quintile
Max Redemption Fee 1.00% 0.11% 2.00% 1.46% 3

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.

BERIX Fees (% of AUM) Category Low Category High BERIX Rank Quintile
Turnover 45.00% 0.00% 5609.00% 10.71% 3

BERIX - Distributions

Dividend Yield Analysis

BERIX Category Low Category High BERIX % Rank Quintile
Dividend Yield 0.3% 0.00% 11.33% 15.73% 2

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

BERIX Category Low Category High BERIX % Rank Quintile
Net Income Ratio 2.18% -2.96% 9.94% 9.75% 2

Capital Gain Distribution Analysis

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

BERIX - Managers

Robert E. Killen

Manager

Start Date

Dec 31, 2005

Tenure

10.84

Tenure Rank

1.6%

Mr. Killen joined Chartwell Investment Partners in 2016 as a Senior Portfolio Manager. Killen was the Founder, Chief Executive Officer, Portfolio Manager and majority shareholder of The Killen Group (the predecessor advisor) from 1982 to 2016.


Mark J. Saylor

Lead Manager

Start Date

Jan 31, 2014

Tenure

2.75

Tenure Rank

5.2%

Mr. Saylor joined Chartwell Investment Partners in 2016 as a Senior Portfolio Manager. From 2007 to 2016, Saylor worked at The Killen Group (“Killen”, the predecessor advisor) where he was a Portfolio Manager, and minority shareholder. At Killen, Saylor primarily managed the Berwyn Income Fund, and was on the Investment Management Committee. His primary responsibilities within the Investment Management Committee included research, trading and portfolio analysis. Saylor holds the Chartered Financial Analyst designation.


Lee S. Grout

Manager

Start Date

Dec 31, 2005

Tenure

10.84

Tenure Rank

1.6%

Mr. Grout joined Chartwell Investment Partners in 2016 as a Senior Portfolio Manager. From 1997 to 2016, Grout worked at The Killen Group (“Killen”, the predecessor advisor) where he was an Executive Vice President, Portfolio Manager, minority shareholder, and head of Investment Research. At Killen, Grout primarily managed the Berwyn Fund and Berwyn Cornerstone Fund, and was on the Investment Management Committee. His primary responsibilities within the Investment Management Committee included research, trading and portfolio analysis. Grout holds the Chartered Financial Analyst designation.


George Cipolloni

Lead Manager

Start Date

Dec 31, 2005

Tenure

10.84

Tenure Rank

1.6%

Mr. Cipolloni joined Chartwell Investment Partners in 2016 as a Senior Portfolio Manager. From 2002 to 2016, Cipolloni worked at The Killen Group (“Killen”, the predecessor advisor) where he was a Vice President, Portfolio Manager, and minority shareholder. At Killen, Cipolloni primarily managed the Berwyn Income Fund, and was on the Investment Management Committee. His primary responsibilities within the Investment Management Committee included research, trading and portfolio analysis. Cipolloni holds the Chartered Financial Analyst designation.


Tenure Analysis

Category Low

0.0

Category High

35.9

Category Average

5.42

Category Mode

4.8