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Trending ETFs

Name

As of

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

-

$460 M

-

1.60%

Vitals

YTD Return

0.3%

1 yr return

8.5%

3 Yr Avg Return

-3.6%

5 Yr Avg Return

-3.6%

Net Assets

$460 M

Holdings in Top 10

30.6%

52 WEEK LOW AND HIGH

N/A
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.60%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 24.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

$100,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of

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

-

$460 M

-

1.60%

FSIMX - Profile

Distributions

  • YTD Total Return 0.3%
  • 3 Yr Annualized Total Return -3.6%
  • 5 Yr Annualized Total Return -3.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.14%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Salient Select Income Fund
  • Fund Family Name
    Salient Funds
  • Inception Date
    Apr 28, 2006
  • Shares Outstanding
    10868543
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States

Fund Description

Under normal conditions, the Fund invests at least 80% of its net assets plus borrowings for investment purposes, if any, in income-producing securities. The Fund invests primarily in securities of companies in the real estate industry, such as real estate investment trusts (“REITs”), master limited partnerships and other real estate firms. Investments in these issuers are expected to include a significant portion of assets in preferred stock, as well as convertible preferred stock, debt obligations and other senior securities. The Fund may invest a significant portion of its assets in preferred stock. The Fund may also invest in common stock, rights and warrants to purchase securities, and limited partnership interests to the extent Salient Management deems appropriate. To select investments for the Fund, the Advisor uses a value-oriented philosophy focused on an issuer’s cash flow, asset quality and management capability.
The Fund may invest in securities of companies having any capitalization and of any credit quality, and may invest in debt securities of any maturity (including bonds commonly referred to as “junk bonds”). The Fund has the ability to leverage its portfolio by borrowing money in an amount up to one-third of its assets to purchase securities. The Fund may purchase restricted securities or securities which are deemed to be not readily marketable. The Fund may engage in transactions designed to hedge against changes in the price of the Fund’s portfolio securities, such as purchasing put options or selling securities short. 
The Fund may write (sell) call options and purchase put options on individual stocks or broad-based stock indices, including exchange-traded funds (“ETFs”) that replicate such indices. The Fund may also enter into put option spreads, which consist of paired purchased and written options with different strike prices on the same stock or index. The Fund generally intends to use option strategies to seek to generate premium income, acquire a security at a specified price, or reduce the Fund’s exposure to market risk and volatility. 
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FSIMX - Performance

Return Ranking - Trailing

Period FSIMX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% -29.9% 34.0% 3.01%
1 Yr 8.5% -30.3% 32.1% 3.70%
3 Yr -3.6%* -13.2% 11.8% 81.25%
5 Yr -3.6%* -8.3% 10.1% 81.60%
10 Yr 0.4%* -2.5% 8.8% 60.76%

* Annualized

Return Ranking - Calendar

Period FSIMX Return Category Return Low Category Return High Rank in Category (%)
2023 12.3% -8.6% 24.4% 65.84%
2022 -13.8% -15.3% -2.5% 85.62%
2021 -7.1% -7.8% 15.4% 96.48%
2020 6.5% -2.1% 14.2% 25.36%
2019 -12.1% -17.9% 2.5% 80.33%

Total Return Ranking - Trailing

Period FSIMX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% -29.9% 34.0% 3.01%
1 Yr 8.5% -30.3% 32.1% 3.70%
3 Yr -3.6%* -10.3% 17.2% 81.94%
5 Yr -3.6%* -4.3% 13.7% 87.20%
10 Yr 0.4%* 0.1% 11.9% 68.35%

* Annualized

Total Return Ranking - Calendar

Period FSIMX Return Category Return Low Category Return High Rank in Category (%)
2023 12.3% -8.6% 24.4% 71.43%
2022 -13.8% -15.2% 4.5% 93.15%
2021 -7.1% -1.0% 18.4% 100.00%
2020 6.5% -2.1% 20.1% 32.61%
2019 -12.1% -17.2% 6.2% 90.98%

FSIMX - Holdings

Concentration Analysis

FSIMX Category Low Category High FSIMX % Rank
Net Assets 460 M 196 K 9.94 B 59.17%
Number of Holdings 67 38 373 88.76%
Net Assets in Top 10 142 M 106 K 1.01 B 55.03%
Weighting of Top 10 30.61% 11.7% 72.4% 21.30%

Top 10 Holdings

  1. Lexington Realty Trust 6.50% Series C Cumulative Convertible Preferred Stoc 3.62%
  2. Farmland Partners Inc Participating Preferred 3.52%
  3. RLJ Lodging Trust USD 1.95 Cum Conv Pfd Registered Shs Series -A- 3.44%
  4. UMH Properties Inc 6.75 % Cum Conv Red Pfd Registered Shs Series -C- 3.35%
  5. RPT Realty 7.25% Cum Conv Perp Pfd Shs of Benef Interest Series D 3.11%
  6. Chatham Lodging Trust 2.87%
  7. Consolidated Tomoka Land Co 4.5% 2.80%
  8. Istar 2.75%
  9. National Storage Affiliates Trust 6% PRF PERPETUAL USD 25 - Ser A 2.60%
  10. Sabra Health Care REIT Inc 2.53%

Asset Allocation

Weighting Return Low Return High FSIMX % Rank
Preferred Stocks
54.78% 0.00% 73.28% 5.92%
Stocks
31.89% -0.82% 26.36% 1.78%
Cash
6.12% 0.00% 15.79% 21.89%
Other
4.40% 0.00% 13.70% 10.65%
Convertible Bonds
2.80% 0.00% 108.22% 91.72%
Bonds
0.00% -14.80% 70.12% 66.27%

Stock Sector Breakdown

Weighting Return Low Return High FSIMX % Rank
Real Estate
29.17% 0.00% 100.00% 9.93%
Consumer Cyclical
1.59% 0.00% 1.63% 13.48%
Utilities
0.00% 0.00% 100.00% 80.14%
Technology
0.00% 0.00% 32.10% 49.65%
Industrials
0.00% 0.00% 43.93% 76.60%
Healthcare
0.00% 0.00% 33.70% 59.57%
Financial Services
0.00% 0.00% 100.00% 56.03%
Energy
0.00% 0.00% 29.20% 45.39%
Communication Services
0.00% 0.00% 14.18% 45.39%
Consumer Defense
0.00% 0.00% 9.44% 24.11%
Basic Materials
0.00% 0.00% 25.53% 51.06%

Stock Geographic Breakdown

Weighting Return Low Return High FSIMX % Rank
US
31.89% -0.82% 26.36% 1.78%
Non US
0.00% 0.00% 2.78% 53.85%

FSIMX - Expenses

Operational Fees

FSIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.60% 0.41% 94.07% 43.29%
Management Fee 1.00% 0.00% 1.42% 88.69%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.07% 0.01% 0.55% 58.14%

Sales Fees

FSIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FSIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

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.

FSIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 24.00% 5.00% 175.00% 22.16%

FSIMX - Distributions

Dividend Yield Analysis

FSIMX Category Low Category High FSIMX % Rank
Dividend Yield 0.00% 0.00% 6.47% 2.37%

Dividend Distribution Analysis

FSIMX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Monthly Monthly Monthly

Net Income Ratio Analysis

FSIMX Category Low Category High FSIMX % Rank
Net Income Ratio 3.14% -0.26% 8.41% 47.88%

Capital Gain Distribution Analysis

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

Distributions History

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FSIMX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
0.5 35.22 9.35 9.67