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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$14.35

$554 M

2.36%

$0.34

1.88%

Vitals

YTD Return

8.5%

1 yr return

17.6%

3 Yr Avg Return

11.7%

5 Yr Avg Return

8.4%

Net Assets

$554 M

Holdings in Top 10

11.6%

52 WEEK LOW AND HIGH

$14.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.88%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 61.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$14.35

$554 M

2.36%

$0.34

1.88%

BPIRX - Profile

Distributions

  • YTD Total Return 8.5%
  • 3 Yr Annualized Total Return 11.7%
  • 5 Yr Annualized Total Return 8.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.66%
DIVIDENDS
  • Dividend Yield 2.4%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Boston Partners Long/Short Research Fund
  • Fund Family Name
    Boston Partners
  • Inception Date
    Nov 29, 2010
  • Shares Outstanding
    47276984
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Eric Connerly

Fund Description

The Fund uses a hedged strategy. The Fund actively invests in long positions in stocks identified by the Adviser as undervalued and takes short positions in stocks that the Adviser has identified as overvalued. The cash proceeds from short sales (i.e., sales of securities the Fund does not own) are invested in short-term cash instruments to produce a return on such proceeds just below the federal funds rate. Short sales are considered speculative transactions and a form of leverage.

The Fund invests, both long and short, in equity securities issued by large-, mid- and small (or “micro”)-cap companies, as well as other instruments that are convertible into equity securities. Equity securities in which the Fund may invest include exchange-traded and over-the-counter common and preferred stocks, warrants, rights, convertible securities, depositary receipts and shares, trust certificates, limited partnership interests,

shares of other investment companies and real estate investment trusts (“REITs”), and equity participations. An equity participation is a type of loan that gives the lender a portion of equity ownership in a property, in addition to principal and interest payments. A convertible security is a bond, debenture, note, preferred stock or other security that may be converted into or exchanged for a prescribed amount of common stock of the same or a different issuer within a particular period of time at a specified price or formula. The Fund may invest in securities of companies operating for three years or less (“unseasoned issuers”). The Fund may also invest in depository receipts and equity securities of foreign companies (denominated in either U.S. dollars or foreign currencies), put and call options, futures, indexed securities and fixed-income securities (including bonds, notes, asset-backed securities, convertible securities, Eurodollar and Yankee dollar instruments, preferred stocks and money market instruments) and high yield securities (commonly referred to as “junk bonds”). Fixed income securities in which the Fund invests include those rated between AAA and D by a nationally recognized statistical rating organization (“NRSRO”), or deemed of comparable quality by the Adviser. The Adviser may also temporarily invest uninvested cash in money market funds and similar collective investment vehicles. The Fund may also seek to increase its income by lending portfolio securities.

The Adviser determines the size of each long or short position by analyzing the tradeoff between the attractiveness of each position and its impact on the risk of the overall portfolio. The Fund seeks to construct a portfolio that has less volatility than the U.S. equity market by investing less than 100% of its assets in net long positions. Selection of individual securities to be held long or sold short will be based on a mix of quantitative techniques and fundamental security analysis. The Adviser selects stocks on the basis of three criteria: value, fundamental business strength and momentum. The Adviser examines various factors in determining the value characteristics of such issuers including price-to-book value ratios and price-to-earnings ratios. These value characteristics are examined in the context of the issuer’s operating and financial fundamentals such as return on equity, earnings growth and cash flow. The Adviser selects securities for the Fund based on a continuous study of trends in industries and companies, earnings power and growth and other investment criteria.

Although the Fund seeks to follow a hedged strategy, there can be no assurance that the Fund’s portfolio or investments will be insulated from market moves or effectively hedged against risk.

The Adviser will sell a stock when it no longer meets one or more investment criteria, either through obtaining target value or due to an adverse change in fundamentals or business momentum. Each holding has a target valuation established at purchase, which the Adviser constantly monitors and adjusts as appropriate.

In general, the Fund’s investments are broadly diversified over a number of industries and, as a matter of policy, the Fund is limited to investing less than 25% of its total assets in any one industry, except that the Fund may invest in exchange-traded funds to the extent permitted by the Investment Company Act of 1940, as amended (“1940 Act”), and applicable SEC orders.

The Fund may invest up to 15% of its net assets in illiquid investments, including investments that are illiquid by virtue of the absence of a readily available market or legal or contractual restrictions on resale.

The principal derivative instruments in which the Fund invests are futures and options on securities, securities indices or currencies, options on these futures, forward foreign currency contracts and interest rate or currency swaps. The Fund’s investments in derivative instruments may be leveraged and result in losses exceeding the amounts invested.

While the Adviser intends to fully invest the Fund’s assets at all times in accordance with the above-mentioned policies, the Fund reserves the right to hold up to 100% of its assets, as a temporary defensive measure, in cash and eligible U.S. dollar-denominated money market instruments and make investments inconsistent with its investment objective. The Adviser will determine when market conditions warrant temporary defensive measures.

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BPIRX - Performance

Return Ranking - Trailing

Period BPIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.5% -10.3% 17.3% 31.58%
1 Yr 17.6% -13.1% 44.0% 44.44%
3 Yr 11.7%* -21.2% 30.6% 11.92%
5 Yr 8.4%* -4.2% 25.2% 32.61%
10 Yr 4.9%* -4.2% 9.9% 48.48%

* Annualized

Return Ranking - Calendar

Period BPIRX Return Category Return Low Category Return High Rank in Category (%)
2023 -6.0% -17.3% 43.8% 94.74%
2022 -12.0% -54.0% 17.4% 56.41%
2021 9.7% -40.0% 54.1% 38.00%
2020 -8.2% -47.6% 88.4% 84.72%
2019 10.0% -20.3% 62.6% 42.65%

Total Return Ranking - Trailing

Period BPIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.5% -10.3% 17.3% 31.58%
1 Yr 17.6% -13.1% 44.0% 44.44%
3 Yr 11.7%* -21.2% 30.6% 11.92%
5 Yr 8.4%* -4.2% 25.2% 32.61%
10 Yr 4.9%* -4.2% 9.9% 48.48%

* Annualized

Total Return Ranking - Calendar

Period BPIRX Return Category Return Low Category Return High Rank in Category (%)
2023 4.7% -14.5% 43.8% 73.10%
2022 6.5% -54.0% 50.3% 14.10%
2021 23.8% -40.0% 61.6% 19.33%
2020 -8.2% -29.9% 91.0% 89.58%
2019 12.6% -17.9% 79.4% 44.12%

NAV & Total Return History


BPIRX - Holdings

Concentration Analysis

BPIRX Category Low Category High BPIRX % Rank
Net Assets 554 M 1.04 M 6.15 B 16.86%
Number of Holdings 437 2 1788 10.06%
Net Assets in Top 10 78.4 M 474 K 1.98 B 31.36%
Weighting of Top 10 11.61% 0.4% 101.9% 96.45%

Top 10 Holdings

  1. JPMorgan Chase Co 1.63%
  2. Wells Fargo Co 1.54%
  3. UnitedHealth Group Inc 1.41%
  4. Bank of America Corp 1.24%
  5. Ameriprise Financial Inc 1.16%
  6. Alphabet Inc 0.98%
  7. AbbVie Inc 0.94%
  8. Marathon Petroleum Corp 0.92%
  9. Abbott Laboratories 0.90%
  10. Booking Holdings Inc 0.90%

Asset Allocation

Weighting Return Low Return High BPIRX % Rank
Stocks
72.61% 0.00% 102.24% 37.87%
Cash
26.97% 0.00% 102.08% 47.93%
Other
0.41% -45.12% 99.51% 31.95%
Preferred Stocks
0.00% 0.00% 8.72% 59.17%
Convertible Bonds
0.00% -0.02% 4.48% 51.53%
Bonds
0.00% 0.00% 95.60% 66.27%

Stock Sector Breakdown

Weighting Return Low Return High BPIRX % Rank
Technology
16.37% 0.00% 43.24% 65.49%
Financial Services
16.06% 0.00% 83.83% 46.48%
Energy
14.00% 0.00% 32.57% 3.52%
Healthcare
12.71% 0.00% 100.00% 69.72%
Industrials
10.85% 0.00% 31.93% 44.37%
Consumer Cyclical
9.22% 0.00% 88.83% 59.15%
Communication Services
8.96% 0.00% 32.32% 22.54%
Consumer Defense
5.71% 0.00% 33.38% 57.75%
Basic Materials
4.83% 0.00% 28.58% 33.10%
Real Estate
1.28% 0.00% 10.93% 53.52%
Utilities
0.00% 0.00% 21.71% 87.32%

Stock Geographic Breakdown

Weighting Return Low Return High BPIRX % Rank
US
70.33% 0.00% 102.24% 36.69%
Non US
2.28% -3.09% 67.69% 15.98%

BPIRX - Expenses

Operational Fees

BPIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.88% 0.42% 8.51% 62.21%
Management Fee 1.25% 0.00% 2.50% 58.14%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 1.54% 15.91%

Sales Fees

BPIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

BPIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 78.13%

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.

BPIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 61.00% 0.00% 479.00% 38.52%

BPIRX - Distributions

Dividend Yield Analysis

BPIRX Category Low Category High BPIRX % Rank
Dividend Yield 2.36% 0.00% 26.99% 8.77%

Dividend Distribution Analysis

BPIRX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annual

Net Income Ratio Analysis

BPIRX Category Low Category High BPIRX % Rank
Net Income Ratio -0.66% -3.33% 2.16% 46.47%

Capital Gain Distribution Analysis

BPIRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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BPIRX - Fund Manager Analysis

Managers

Eric Connerly


Start Date

Tenure

Tenure Rank

Sep 30, 2010

11.67

11.7%

Mr. Connerly is the director of quantitative research for Boston Partners. Prior to assuming this role, he was a research analyst covering the financial, electronics, defense, transportation, and energy sectors and managed a merger arbitrage portfolio. He joined the firm from John Hancock Mutual Funds where he was an analyst and assisted in the management of a small cap portfolio. Prior to that, he was a senior equity analyst at SEI Investments overseeing their small cap equity portfolios. Mr. Connerly holds a BSFS degree Cum Laude in development economics from Georgetown University and an MBA degree in security analysis and investment management, Beta Gamma Sigma, from Columbia Business School. He holds the Chartered Financial Analyst® designation. He has twenty-seven years of experience.

Joseph Feeney


Start Date

Tenure

Tenure Rank

Sep 30, 2010

11.67

11.7%

Mr. Feeney is Chief Executive Officer and Chief Investment Officer for Boston Partners. He is responsible for the firm’s strategic, financial and operating decisions, and all aspects of investment management including the firm’s fundamental and quantitative research groups. He was one of the original partners of Boston Partners Asset Management in 1995. Prior to assuming these roles, he was Director of Research. Mr. Feeney joined Boston Partners upon its inception in 1995 from Putnam Investments where he managed mortgage-backed securities portfolios. He began his career at the Bank of Boston where he was a loan officer specializing on highly leveraged loan portfolios. Mr. Feeney holds a B.S. degree in finance from the University of New Hampshire and an M.B.A. with High Honors from the University of Chicago. He holds the Chartered Financial Analyst® designation and is past President of the Fixed Income Management Society of Boston. He has thirty-five years of investment experience.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 6.05 7.93