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HWHIX Hotchkis & Wiley High Yield I

  • Fund
  • HWHIX
  • Price as of: Aug 08, 2016
  • $11.76
  • + $0.02
  • + 0.17%
  • Category
  • High Yield Bonds

HWHIX - Profile

Vitals

  • YTD Return 6.4%
  • 3 Yr Annualized Return 3.4%
  • 5 Yr Annualized Return 5.8%
  • Net Assets $2.52 B
  • Holdings in Top 10 9.8%

52 WEEK LOW AND HIGH

$11.76
$10.36
$11.92

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.73%

SALES FEES

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

BROKERAGE FEES

  • Turnover 44.00%

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 6.4%
  • 3 Yr Annualized Total Return 3.4%
  • 5 Yr Annualized Total Return 5.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.56%
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 6.4% -30.0% 20.5% 26.69% 2
1 Yr 2.0% -30.5% 10.8% 58.06% 3
3 Yr 3.4% * -11.3% 8.2% 42.88% 3
5 Yr 5.8% * -12.9% 7.6% 19.37% 1
10 Yr N/A * -12.2% 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% 7.2% 58.45% 5
2014 N/A -5.0% -1.0% N/A N/A
2013 N/A -1.3% 3.8% N/A N/A
2012 N/A 7.4% 9.6% N/A N/A
2011 N/A -8.1% -0.2% N/A N/A

Total Return Ranking - Trailing

Period HWHIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 6.4% -30.0% 20.5% 27.38% 2
1 Yr 2.0% -30.5% 10.2% 42.55% 3
3 Yr 3.4% * -11.3% 8.2% 36.36% 2
5 Yr 5.8% * -12.9% 7.6% 16.44% 1
10 Yr N/A * -12.2% 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% -34.3% 7.2% 58.32% 5
2014 N/A -4.8% -0.6% N/A N/A
2013 N/A -1.3% 4.5% N/A N/A
2012 N/A 7.4% 10.4% N/A N/A
2011 N/A -7.8% -0.2% N/A N/A

NAV & Total Return History

HWHIX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

HWHIX Category Low Category High HWHIX % Rank Quintile
Net Assets 2.52 B 859 K 19.6 B 4.60% 1
Number of Holdings 172 1 1294 21.32% 4
Net Assets in Top 10 239 M -32.2 M 3.99 B 6.13% 2
Weighting of Top 10 9.8% 0.0% 100.0% 22.39% 4

Top 10 Holdings

  1. Hca 5.375% 1.18%
  2. Popular 7% 1.00%
  3. Harland Clarke Hldgs 144A 9.25% 0.99%
  4. Kosmos Engy 144A 0.07% 0.98%
  5. Vtr Fin Bv 144A 6.875% 0.96%
  6. Mallinckrodt Intl Fin S A / M 144A 5.75% 0.96%
  7. General Cable Corp Del New 5.75% 0.92%
  8. Phi 5.25% 0.92%
  9. Zachry Hldgs 144A 7.5% 0.92%
  10. Amer Greetings 7.375% 0.93%

Asset Allocation

Weighting Category Low Category High HWHIX % Rank Quintile
Bonds
87.59% -5.63% 107.80% 22.24% 4
Cash
5.55% -11.47% 133.84% 13.50% 3
Other
2.56% -34.84% 38.60% 7.82% 2
Preferred Stocks
1.89% 0.00% 12.41% 3.68% 1
Stocks
1.57% 0.00% 99.05% 5.67% 1
Convertible Bonds
0.83% 0.00% 18.92% 5.98% 1

Stock Sector Breakdown

Weighting Category Low Category High HWHIX % Rank Quintile
Financial Services
1.13% 0.00% 16.69% 2.33% 1
Consumer Cyclical
0.25% 0.00% 17.17% 7.63% 2
Energy
0.01% 0.00% 11.08% 8.26% 2
Utilities
0.00% -0.08% 7.62% 4.87% 4
Healthcare
0.00% 0.00% 24.74% 5.93% 4
Industrials
0.00% 0.00% 13.93% 6.36% 4
Real Estate
0.00% 0.00% 7.16% 5.08% 4
Communication Services
0.00% -0.05% 9.22% 6.99% 4
Consumer Defense
0.00% -0.14% 5.89% 5.51% 4
Technology
0.00% -0.01% 24.70% 5.72% 4
Basic Materials
0.00% 0.00% 2.68% 6.14% 4

Stock Geographic Breakdown

Weighting Category Low Category High HWHIX % Rank Quintile
Non US
1.06% -0.01% 53.49% 1.07% 1
US
0.51% -0.04% 81.88% 8.44% 2

Bond Sector Breakdown

Weighting Category Low Category High HWHIX % Rank Quintile
Corporate
89.06% 0.00% 101.98% 14.42% 3
Cash & Equivalents
5.55% -7.60% 133.84% 13.80% 2
Government
0.81% -6.62% 39.91% 15.95% 3
Securitized
0.45% 0.00% 68.88% 13.34% 3
Municipal
0.00% 0.00% 99.16% 3.68% 4
Derivative
0.00% -19.62% 5.63% 3.68% 3

Bond Geographic Breakdown

Weighting Category Low Category High HWHIX % Rank Quintile
US
70.27% -5.63% 100.00% 19.94% 4
Non US
17.32% 0.00% 45.22% 13.50% 3

HWHIX - Expenses

Operational Fees

HWHIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.73% 0.00% 7.85% 23.96% 1
Management Fee 0.55% 0.12% 1.00% 3.99% 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% 0.60% 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 44.00% 7.20% 2247.00% 11.98% 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 5.56% -2.75% 8.95% 15.82% 2

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

3.92

Tenure Rank

10.5%

Mr. Meegan joined HWCM in 1998 as an equity analyst and became a portfolio manager in 2001. In his role as portfolio manager, Mr. Meegan plays an integral role in the investment research review and decision-making process as well as provides expertise and insight into the financial and healthcare sectors. He coordinates the day-to-day management of the Capital Income Fund. He represents the firm’s Large Cap Fundamental, Large Cap Diversified and Capital Income strategies to current and prospective clients. 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 at the University of California, Los Angeles.


Raymond G. Kennedy

Manager

Start Date

Mar 31, 2009

Tenure

7.34

Tenure Rank

6.6%

Kennedy joined HWCM in 2008. Prior to joining the firm, Mr. Kennedy was Managing Director, portfolio manager and senior member of PIMCO's investment strategy group. At PIMCO since 1996, he headed the global high yield business along with managing and overseeing High Yield funds, bank loan trading and collateralized debt obligations. Previously, Mr. Kennedy was 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 charter holder, received his BS from Stanford University and MBA from the Anderson Graduate School of Management at the University of California, Los Angeles. He is Series 7 and 63 registered.


Mark T. Hudoff

Manager

Start Date

Jul 28, 2009

Tenure

7.01

Tenure Rank

7.0%

Mr. Hudoff joined HWCM in 2009 and is Portfolio Manager for the Hotchkis and Wiley High Yield bond strategy. 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 the High Yield bond strategy. 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 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

2.58

Tenure Rank

12.3%

Richard Mak has joined Hotchkis & Wiley's High Yield portfolio management team in 2013. Mr. Mak will have primary trading as well as portfolio management responsibilities. Prior to joining Hotchkis & Wiley, Mr. Mak worked for 12-years at PIMCO in multiple roles ranging from credit analyst to high yield portfolio manager, primarily focused on internal high yield funds. Prior to joining PIMCO in 2001, he was a research associate on the communication equipment/systems equity research team at Epoch Partners, a technology investment bank that was acquired by Goldman Sachs. He has 10 years of investment experience and holds an MBA from the Anderson School of Management at the University of California, Los Angeles, where he also earned an undergraduate degree in Business Economics and a minor in accounting.


Tenure Analysis

Category Low

0.0

Category High

56.2

Category Average

6.26

Category Mode

1.6