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Trending ETFs

Name

As of 03/26/2024

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

$18.48

$266 M

0.00%

1.14%

Vitals

YTD Return

-0.9%

1 yr return

14.9%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$266 M

Holdings in Top 10

33.1%

52 WEEK LOW AND HIGH

$18.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.14%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 82.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$18.48

$266 M

0.00%

1.14%

KIFAX - Profile

Distributions

  • YTD Total Return -0.9%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.82%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Westwood Salient Select Income Fund
  • Fund Family Name
    Salient Funds
  • Inception Date
    Mar 30, 2001
  • Shares Outstanding
    5638107
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Palmer

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 the Advisor deems appropriate. To select investments for the Fund, the Advisor uses a value-oriented philosophy focused on an issuer’s cash flow and future cash generation capability, its asset valuations, and the capabilities of its management. Specific to real estate companies, the Advisor analyzes an issuer’s cash flow potential, current and future occupancy and rental trends, underlying tenant health, and the costs associated with maintaining the physical condition of assets in its portfolio. The evaluation of an issuer’s management team primarily consists of understanding its capital allocation track record regarding property acquisition, development and disposition, and how it chooses to fund these endeavors. For broad financial companies, the Advisor assesses financial characteristics such as likely asset growth, margins, credit risk, balance sheet funding, and revenue growth potential of various fee generating businesses. By using this approach, the Advisor seeks to identify investments with the opportunity to generate attractive risk-adjusted returns over time.

The Fund invests in securities of companies having any capitalization, any maturity and any credit quality (including bonds commonly referred to as “junk bonds”). The Fund may purchase restricted securities or securities which are deemed to be not readily marketable.

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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KIFAX - Performance

Return Ranking - Trailing

Period KIFAX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.9% -0.8% 6.7% 98.72%
1 Yr 14.9% 10.2% 29.9% 65.38%
3 Yr N/A* -7.6% 8.1% 3.85%
5 Yr N/A* -4.5% 6.3% 63.38%
10 Yr N/A* 1.1% 4.9% 89.80%

* Annualized

Return Ranking - Calendar

Period KIFAX Return Category Return Low Category Return High Rank in Category (%)
2023 6.9% -3.6% 14.2% 8.97%
2022 N/A -29.4% -9.6% 8.97%
2021 N/A -3.4% 17.2% 89.19%
2020 N/A -24.8% 9.0% 57.75%
2019 N/A 6.4% 19.1% 82.61%

Total Return Ranking - Trailing

Period KIFAX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.9% -0.8% 6.7% 98.72%
1 Yr 14.9% 10.2% 29.9% 65.38%
3 Yr N/A* -7.6% 8.1% 21.33%
5 Yr N/A* -4.5% 6.3% 73.53%
10 Yr N/A* 1.1% 4.9% 15.22%

* Annualized

Total Return Ranking - Calendar

Period KIFAX Return Category Return Low Category Return High Rank in Category (%)
2023 14.4% -1.9% 26.5% 10.26%
2022 N/A -26.0% -5.8% 8.97%
2021 N/A -2.5% 27.4% 89.19%
2020 N/A -19.2% 12.3% 66.20%
2019 N/A 10.0% 32.0% 46.38%

NAV & Total Return History


KIFAX - Holdings

Concentration Analysis

KIFAX Category Low Category High KIFAX % Rank
Net Assets 266 M 20 M 14.5 B 70.51%
Number of Holdings 52 45 450 93.59%
Net Assets in Top 10 88.2 M 7.69 M 1.65 B 65.38%
Weighting of Top 10 33.10% 12.1% 45.9% 8.97%

Top 10 Holdings

  1. RPT Realty 7.250% Preferred 3.90%
  2. RLJ Lodging Trust 3.52%
  3. Pebblebrook Hotel Trust 5.700% Preferred 3.50%
  4. Outfront Media, Inc. 3.42%
  5. LXP Industrial Trust 6.500% Preferred 3.30%
  6. Saul Centers, Inc. 6.125% Preferred 3.27%
  7. National Storage Affiliates Trust 6.000% Preferred 3.24%
  8. American Homes 4 Rent 5.875% Preferred 3.05%
  9. Triumph Financial, Inc. Series A 2.96%
  10. EPR Properties 9.000% Preferred 2.94%

Asset Allocation

Weighting Return Low Return High KIFAX % Rank
Preferred Stocks
69.01% 0.00% 126.07% 20.51%
Stocks
28.30% 0.00% 28.30% 1.28%
Cash
2.69% -0.02% 9.83% 38.46%
Other
0.00% -4.48% 12.19% 44.87%
Convertible Bonds
0.00% 0.00% 31.65% 88.00%
Bonds
0.00% 0.00% 98.46% 85.90%

Stock Sector Breakdown

Weighting Return Low Return High KIFAX % Rank
Real Estate
100.00% 0.00% 100.00% 3.33%
Utilities
0.00% 0.00% 100.00% 76.67%
Technology
0.00% 0.00% 0.00% 26.67%
Industrials
0.00% 0.00% 7.56% 46.67%
Healthcare
0.00% 0.00% 4.02% 46.67%
Financial Services
0.00% 0.00% 100.00% 43.33%
Energy
0.00% 0.00% 11.41% 36.67%
Communication Services
0.00% 0.00% 1.77% 36.67%
Consumer Defense
0.00% 0.00% 0.00% 26.67%
Consumer Cyclical
0.00% 0.00% 0.00% 26.67%
Basic Materials
0.00% 0.00% 0.00% 26.67%

Stock Geographic Breakdown

Weighting Return Low Return High KIFAX % Rank
US
28.30% 0.00% 28.30% 1.28%
Non US
0.00% 0.00% 1.93% 37.18%

KIFAX - Expenses

Operational Fees

KIFAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.14% 0.05% 4.46% 49.35%
Management Fee 0.70% 0.00% 1.00% 55.13%
12b-1 Fee 0.25% 0.00% 1.00% 39.39%
Administrative Fee N/A 0.01% 0.55% 56.00%

Sales Fees

KIFAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 2.00% 5.75% 10.00%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

KIFAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

KIFAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 82.00% 12.00% 199.00% 89.71%

KIFAX - Distributions

Dividend Yield Analysis

KIFAX Category Low Category High KIFAX % Rank
Dividend Yield 0.00% 0.00% 9.40% 11.54%

Dividend Distribution Analysis

KIFAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Monthly Monthly

Net Income Ratio Analysis

KIFAX Category Low Category High KIFAX % Rank
Net Income Ratio 1.82% 0.88% 7.54% 94.59%

Capital Gain Distribution Analysis

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

Distributions History

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KIFAX - Fund Manager Analysis

Managers

John Palmer


Start Date

Tenure

Tenure Rank

May 01, 2021

1.08

1.1%

Mr. Palmer leads the real estate team, a group of professionals whose broad experience investing in the real estate sector and relationships with industry executives are critical elements in operating the Fund. As a team leader and Portfolio Manager, Mr. Palmer has ultimate responsibility for all Fund investment decisions. Mr. Palmer has been a member of the Salient real estate team since September 2013 and has acted as sole Portfolio Manager since May 2021.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 30.32 7.8 11.42