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HWHIX Hotchkis & Wiley High Yield I

  • Fund
  • HWHIX
  • Price as of: Dec 09, 2016
  • $11.99
  • + $0.02
  • + 0.17%
  • Category
  • High Yield Bonds

HWHIX - Profile

Vitals

  • YTD Return 8.5%
  • 3 Yr Annualized Return 3.5%
  • 5 Yr Annualized Return 7.6%
  • Net Assets $2.57 B
  • Holdings in Top 10 9.7%

52 WEEK LOW AND HIGH

$11.99
$10.36
$12.03

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.74%

SALES FEES

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

BROKERAGE FEES

  • Turnover 45.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

N/A

Investment Themes

CATEGORY

High Yield Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Bond

Distributions

  • YTD Total Return 8.5%
  • 3 Yr Annualized Total Return 3.5%
  • 5 Yr Annualized Total Return 7.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 6.59%
DIVIDENDS
  • Dividend Yield N/A
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Hotchkis & Wiley High Yield Fund
  • Fund Family Name Hotchkis & Wiley
  • Inception Date Mar 31, 2009
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Patrick Meegan

HWHIX - Performance

Return Ranking - Trailing

Period HWHIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 8.5% -30.0% 333.8% 17.63% 2
1 Yr 10.6% -30.5% 29.9% 11.57% 1
3 Yr 3.5% * -12.0% 7.7% 30.38% 2
5 Yr 7.6% * -12.9% 12.5% 10.56% 1
10 Yr N/A * -11.9% 12.4% N/A N/A

* Annualized


Return Ranking - Calendar

Period HWHIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -10.8% -34.3% 1.0% 54.07% 5
2014 -5.2% -21.7% 10.4% 42.98% 4
2013 1.5% -16.9% 31.6% 13.31% 1
2012 9.3% -18.5% 17.6% 10.39% 1
2011 -7.0% -18.8% 6.8% 58.19% 5

Total Return Ranking - Trailing

Period HWHIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 8.5% -30.0% 333.8% 34.22% 2
1 Yr 10.6% -30.5% 29.9% 9.41% 1
3 Yr 3.5% * -12.0% 7.7% 24.63% 2
5 Yr 7.6% * -12.9% 12.5% 8.64% 1
10 Yr N/A * -11.9% 12.4% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period HWHIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -10.8% -30.4% 4.6% 62.08% 5
2014 -4.5% -18.4% 10.4% 62.05% 5
2013 2.5% -16.9% 55.9% 38.02% 3
2012 10.0% -18.5% 33.1% 35.93% 3
2011 -5.2% -18.8% 11.9% 61.05% 5

NAV & Total Return History

HWHIX - Holdings

Filings data as of: Oct 31, 2016

Concentration Analysis

HWHIX Category Low Category High HWHIX % Rank Quintile
Net Assets 2.57 B 2.52 M 20.6 B 4.60% 1
Number of Holdings 180 1 1424 20.25% 4
Net Assets in Top 10 249 M -32.2 M 3.32 B 6.60% 2
Weighting of Top 10 9.7% 0.0% 100.0% 21.17% 3

Top 10 Holdings

  1. Hca 5.375% 1.11%
  2. Popular 7% 1.02%
  3. Vtr Fin Bv 144A 6.875% 0.96%
  4. Harland Clarke Hldgs 144A 9.25% 0.96%
  5. Kosmos Engy 144A 0.07% 0.94%
  6. Weekley Homes Llc/ Fin 6% 0.94%
  7. Zachry Hldgs 144A 7.5% 0.92%
  8. Unit 6.625% 0.97%
  9. General Cable Corp Del New 5.75% 0.91%
  10. Amer Greetings 7.375% 0.91%

Asset Allocation

Weighting Category Low Category High HWHIX % Rank Quintile
Bonds
91.27% -9.44% 107.80% 17.94% 4
Cash
2.97% -11.47% 109.44% 19.48% 4
Stocks
2.20% 0.00% 99.40% 4.60% 1
Other
1.29% -11.89% 38.60% 12.88% 3
Preferred Stocks
1.17% 0.00% 18.78% 5.98% 1
Convertible Bonds
1.10% 0.00% 18.92% 5.37% 1

Stock Sector Breakdown

Weighting Category Low Category High HWHIX % Rank Quintile
Financial Services
0.89% 0.00% 16.65% 2.44% 1
Consumer Cyclical
0.28% 0.00% 16.04% 6.72% 1
Energy
0.11% 0.00% 12.30% 8.35% 2
Utilities
0.00% -0.07% 6.44% 5.50% 4
Healthcare
0.00% 0.00% 21.24% 6.11% 4
Industrials
0.00% 0.00% 15.72% 7.13% 4
Real Estate
0.00% 0.00% 8.20% 5.50% 4
Communication Services
0.00% -0.06% 9.11% 6.52% 4
Consumer Defense
0.00% -0.12% 5.56% 5.30% 4
Technology
0.00% 0.00% 26.11% 5.50% 4
Basic Materials
0.00% 0.00% 1.80% 6.92% 4

Stock Geographic Breakdown

Weighting Category Low Category High HWHIX % Rank Quintile
Non US
1.67% -0.01% 53.05% 0.92% 1
US
0.53% 0.00% 83.03% 9.82% 2

Bond Sector Breakdown

Weighting Category Low Category High HWHIX % Rank Quintile
Corporate
91.89% 0.00% 101.98% 11.96% 2
Cash & Equivalents
2.97% -7.60% 100.00% 19.48% 3
Government
0.83% -9.04% 51.73% 10.58% 2
Securitized
0.00% 0.00% 68.93% 17.48% 5
Municipal
0.00% 0.00% 100.00% 4.29% 4
Derivative
-0.05% -19.62% 9.44% 4.29% 5

Bond Geographic Breakdown

Weighting Category Low Category High HWHIX % Rank Quintile
US
73.01% -9.44% 100.00% 17.79% 4
Non US
18.26% 0.00% 47.90% 11.35% 2

HWHIX - Expenses

Operational Fees

HWHIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.74% 0.00% 3.69% 23.66% 1
Management Fee 0.55% 0.12% 1.00% 4.14% 3
12b-1 Fee 0.00% 0.00% 1.00% 5.76% 1
Administrative Fee 0.25% 0.00% 0.45% 1.61% 5

Sales Fees

HWHIX Fees (% of AUM) Category Low Category High HWHIX Rank Quintile
Front Load N/A 2.00% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

HWHIX Fees (% of AUM) Category Low Category High HWHIX Rank Quintile
Max Redemption Fee 2.00% 1.00% 2.00% 0.61% 4

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.

HWHIX Fees (% of AUM) Category Low Category High HWHIX Rank Quintile
Turnover 45.00% 3.52% 2247.00% 12.14% 2

HWHIX - Distributions

Dividend Yield Analysis

HWHIX Category Low Category High HWHIX % Rank Quintile
Dividend Yield N/A 0.00% 6.16% N/A N/A

Dividend Distribution Analysis

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

Net Income Ratio Analysis

HWHIX Category Low Category High HWHIX % Rank Quintile
Net Income Ratio 6.59% -2.75% 9.92% 5.68% 1

Capital Gain Distribution Analysis

HWHIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

HWHIX - Managers

Patrick Meegan

Manager

Start Date

Aug 29, 2012

Tenure

4.26

Tenure Rank

10.3%

In his role as portfolio manager, Mr. Meegan plays an integral role in the investment research review and decision-making process. He coordinates the day-to-day management of all High Yield bond and Capital Income portfolios, represents the firm’s investment strategies to current and prospective clients, as well as provides expertise and insight into the financials and healthcare sectors. Mr. Meegan began his career at H&W as an investment analyst and became portfolio manager in 2001. Prior to joining the firm, Mr. Meegan was an audit manager at Arthur Andersen and specialized in financial statement audits and advising clients on SEC reporting issues. Mr. Meegan, a Certified Public Accountant (inactive), received his BA in Business Administration with honors from California State University, Fullerton and his MBA with honors from the Anderson School of Management at the University of California, Los Angeles.


Raymond G. Kennedy

Manager

Start Date

Mar 31, 2009

Tenure

7.67

Tenure Rank

6.4%

In his role as portfolio manager, Mr. Kennedy plays an integral part in the investment research review and decision-making process as well as coordinates the day-to-day management of all High Yield bond portfolios. Prior to joining the firm, Mr. Kennedy was a Managing Director, portfolio manager and senior member of PIMCO's investment strategy group. At PIMCO, he headed the global high yield business along with managing and overseeing High Yield funds, bank loan trading and collateralized debt obligations. Mr. Kennedy was formerly associated with the Prudential Insurance Company of America as a private placement asset manager where he was responsible for investing and managing a portfolio of investment grade and high yield privately placed fixed income securities. Prior to that, he was a consultant for Andersen Consulting (now Accenture) in Los Angeles and London. Mr. Kennedy, a CFA charterholder, was nominated for Morningstar’s 2010 Fixed Income Manager of the Year. He received his BS from Stanford University and MBA from the Anderson School of Management at the University of California, Los Angeles.


Mark T. Hudoff

Manager

Start Date

Jul 28, 2009

Tenure

7.35

Tenure Rank

6.9%

In his role as portfolio manager, Mr. Hudoff plays an integral part in the investment research review and decision-making process as well as coordinates the day-to-day management of all High Yield bond and Capital Income portfolios. Prior to joining the firm, Mr. Hudoff was an Executive Vice President, portfolio manager and Head of Global High Yield investments at PIMCO. He started at PIMCO as a credit analyst for the high yield team and moved to Europe in 2000 to build and manage their European credit business, including the management of PIMCO's European High Yield strategies. Upon returning to the U.S. in 2004, Mr. Hudoff founded and developed PIMCO's Global High Yield practice, while also managing U.S. High Yield portfolios. Mr. Hudoff was formerly associated with BCA where he worked as a fixed income strategist. Mr. Hudoff was nominated for Morningstar’s 2010 Fixed Income Manager of the Year. He received his BS in Economics from Arizona State University and MBA in Finance from the University of Chicago Graduate School of Business.


Richard Mak

Manager

Start Date

Jan 01, 2014

Tenure

2.92

Tenure Rank

12.3%

In his role as portfolio manager, Mr. Mak plays an integral role in the investment research review and decision making process and coordinates the day-to-day management of all High Yield bond portfolios. Prior to joining the firm, Mr. Mak worked at PIMCO in multiple roles ranging from credit analyst to high yield portfolio manager, primarily focused on internal high yield funds. Prior to his position at PIMCO, Mr. Mak was an equity analyst at Epoch Partners covering telecom equipment and related technology issuers. Mr. Mak, a CFA charterholder, received his BA in Business Economics with a minor in Accounting from University of California, Los Angeles, and MBA with emphasis in Finance and Strategy from the Anderson School of Management at the University of California, Los Angeles.


Tenure Analysis

Category Low

0.0

Category High

56.5

Category Average

6.46

Category Mode

1.9