Variant Alternative Income Fund
Name
As of 10/13/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$2.82 B
Holdings in Top 10
36.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.21%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 52.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Closed-end mutual fund
Name
As of 10/13/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
NICHX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 6.21%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameVariant Alternative Income Fund
-
Fund Family NameVariant
-
Inception DateSep 28, 2018
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerCurtis Fintel
Fund Description
NICHX - Performance
Return Ranking - Trailing
Period | NICHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -73.0% | 19.4% | 55.56% |
1 Yr | N/A | -9.1% | 86.9% | 67.27% |
3 Yr | N/A* | -9.5% | 16.2% | N/A |
5 Yr | N/A* | -4.9% | 14.4% | N/A |
10 Yr | N/A* | -0.9% | 7.5% | N/A |
* Annualized
Return Ranking - Calendar
Period | NICHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -22.7% | 305.1% | 64.44% |
2022 | N/A | -9.8% | 27.3% | 39.92% |
2021 | N/A | -20.8% | 10.9% | N/A |
2020 | N/A | -12.4% | 29.4% | N/A |
2019 | N/A | -10.5% | 15.8% | N/A |
Total Return Ranking - Trailing
Period | NICHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -73.0% | 19.4% | 55.56% |
1 Yr | N/A | -13.4% | 86.9% | 61.09% |
3 Yr | N/A* | -9.5% | 16.2% | N/A |
5 Yr | N/A* | -5.3% | 14.4% | N/A |
10 Yr | N/A* | -0.9% | 7.5% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | NICHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -22.7% | 305.1% | 64.44% |
2022 | N/A | -9.8% | 27.3% | 40.32% |
2021 | N/A | -20.8% | 10.9% | N/A |
2020 | N/A | -8.4% | 29.4% | N/A |
2019 | N/A | -10.2% | 18.0% | N/A |
NAV & Total Return History
NICHX - Holdings
Concentration Analysis
NICHX | Category Low | Category High | NICHX % Rank | |
---|---|---|---|---|
Net Assets | 2.82 B | 1.5 M | 5.01 B | N/A |
Number of Holdings | 205 | 4 | 4478 | 66.43% |
Net Assets in Top 10 | 1.03 B | -398 M | 2.55 B | 16.25% |
Weighting of Top 10 | 36.43% | 13.1% | 100.0% | 49.54% |
Top 10 Holdings
- Goldman Sachs Financial Square Government Fund 11.93%
- COROMANDEL CREDIT FACILITY / 3.84%
- COMBINED WAREHOUSE CREDIT FACILITY / 3.48%
- MEDTRADE CAPITAL LLC / 3.15%
- MONTREUX HEALTHCARE FUND / 2.73%
- STRATFORD CRESSON MEDICAL RECEIVABLES / 2.49%
- STAR STRONG CAPITAL SSC SPV No. 1 LLC / 2.45%
- DELGATTO DIAMOND FINANCE FUND FACILIT / 2.39%
- C CUBED CREDIT FACILITY / 2.07%
- KERBEROS CREDIT FACILITY / 1.91%
Asset Allocation
Weighting | Return Low | Return High | NICHX % Rank | |
---|---|---|---|---|
Bonds | 56.66% | -326.45% | 6347.80% | 86.93% |
Stocks | 30.64% | -3.75% | 97.95% | 94.70% |
Cash | 12.68% | -6278.21% | 410.43% | 65.37% |
Other | 0.02% | -21.53% | 148.54% | 2.47% |
Preferred Stocks | 0.00% | -0.12% | 46.97% | 44.17% |
Convertible Bonds | 0.00% | 0.00% | 87.92% | 60.42% |
Stock Sector Breakdown
Weighting | Return Low | Return High | NICHX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 9.23% | 97.64% |
Technology | 0.00% | 0.00% | 39.58% | 98.82% |
Real Estate | 0.00% | 0.00% | 51.26% | 96.85% |
Industrials | 0.00% | 0.00% | 21.45% | 99.21% |
Healthcare | 0.00% | 0.00% | 45.63% | 99.21% |
Financial Services | 0.00% | 0.00% | 59.28% | 99.61% |
Energy | 0.00% | 0.00% | 100.00% | 0.39% |
Communication Services | 0.00% | 0.00% | 21.78% | 98.43% |
Consumer Defense | 0.00% | 0.00% | 13.62% | 97.64% |
Consumer Cyclical | 0.00% | 0.00% | 29.09% | 99.21% |
Basic Materials | 0.00% | 0.00% | 27.46% | 96.46% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | NICHX % Rank | |
---|---|---|---|---|
US | 30.64% | -8.85% | 91.88% | 90.11% |
Non US | 0.00% | -19.62% | 42.11% | 82.69% |
Bond Sector Breakdown
Weighting | Return Low | Return High | NICHX % Rank | |
---|---|---|---|---|
Corporate | 72.01% | 0.00% | 87.73% | 59.01% |
Cash & Equivalents | 11.93% | 0.27% | 100.00% | 6.71% |
Derivative | 0.02% | 0.00% | 88.81% | 75.97% |
Securitized | 0.00% | 0.00% | 56.83% | 53.71% |
Municipal | 0.00% | 0.00% | 27.33% | 24.73% |
Government | 0.00% | 0.00% | 84.29% | 86.93% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | NICHX % Rank | |
---|---|---|---|---|
US | 53.15% | -126.19% | 6311.18% | 84.81% |
Non US | 3.51% | -382.37% | 121.02% | 73.14% |
NICHX - Expenses
Operational Fees
NICHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.21% | 0.29% | 31.15% | 68.71% |
Management Fee | 0.95% | 0.00% | 2.50% | 42.40% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.30% | N/A |
Sales Fees
NICHX 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% | 5.00% | N/A |
Trading Fees
NICHX 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.
NICHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 52.00% | 0.00% | 491.00% | 14.11% |
NICHX - Distributions
Dividend Yield Analysis
NICHX | Category Low | Category High | NICHX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 4.56% | 6.36% |
Dividend Distribution Analysis
NICHX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Quarterly | Annually |
Net Income Ratio Analysis
NICHX | Category Low | Category High | NICHX % Rank | |
---|---|---|---|---|
Net Income Ratio | 6.21% | -2.51% | 6.83% | 1.44% |
Capital Gain Distribution Analysis
NICHX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 28, 2023 | $1.609 | OrdinaryDividend |
Sep 28, 2023 | $0.443 | OrdinaryDividend |
Jun 29, 2023 | $0.438 | OrdinaryDividend |
Mar 30, 2023 | $0.437 | OrdinaryDividend |
Dec 29, 2022 | $0.434 | OrdinaryDividend |
Sep 29, 2022 | $0.432 | OrdinaryDividend |
Jun 29, 2022 | $0.428 | OrdinaryDividend |
Mar 30, 2022 | $0.422 | OrdinaryDividend |
Dec 30, 2021 | $0.424 | OrdinaryDividend |
Sep 29, 2021 | $0.421 | OrdinaryDividend |
Jun 29, 2021 | $0.414 | OrdinaryDividend |
Mar 30, 2021 | $0.408 | OrdinaryDividend |
Dec 30, 2020 | $0.401 | OrdinaryDividend |
Sep 29, 2020 | $0.399 | OrdinaryDividend |
Jun 29, 2020 | $0.400 | OrdinaryDividend |
Mar 30, 2020 | $0.404 | OrdinaryDividend |
Dec 30, 2019 | $0.400 | OrdinaryDividend |
Sep 27, 2019 | $0.397 | OrdinaryDividend |
Jun 27, 2019 | $0.387 | OrdinaryDividend |
Mar 28, 2019 | $0.402 | OrdinaryDividend |
Dec 28, 2018 | $0.468 | OrdinaryDividend |
NICHX - Fund Manager Analysis
Managers
Curtis Fintel
Start Date
Tenure
Tenure Rank
Sep 28, 2018
3.67
3.7%
Curt Fintel is a principal and co-founder of the Investment Manager with over 20 years of experience in the investment management industry.Curt is a member of the CFA Society of Portland, and has been a CFA charterholder since 1999. He received a BS and MS in Economics from Iowa State University and constructed his graduate thesis on the empirical analysis of alternative option valuations.
Robert Elsasser
Start Date
Tenure
Tenure Rank
Sep 28, 2018
3.67
3.7%
Bob Elsasser is a principal and co-founder of Variant Investments, LLC with over 26 years of experience in the industry. Prior to founding Variant Investments, LLC, Bob was the Director of Fixed Income Research at CTC | myCFO. Before joining the organization in 2006, Bob was the Senior Vice President of Fixed Income and Foreign Exchange at the Federal Reserve Bank of New York. Bob received his BA in Finance from the University of Washington and his MBA in Finance from New York University.
Jerald Hayes
Start Date
Tenure
Tenure Rank
Sep 28, 2018
3.67
3.7%
J.B. Hayes is a principal and co-founder of Variant Investments, LLC with over 16 years of experience in the industry. Prior to founding Variant Investments, LLC, J.B. was the Director of Private Markets at CTC | myCFO. Before joining the organization in 2001, J.B. was with the Private Client Group at Merrill Lynch. J.B. is a member of the CFA Society of Portland, and has been a CFA charterholder since 2004. He received a BS in Business with a focus on finance from the University of Oregon.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.02 | 17.37 | 4.48 | 1.67 |