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AAHMX Aberdeen High Yield Mgd Dur Muncpl A

  • Fund
  • AAHMX
  • Price as of: Jun 24, 2019
  • $10.21 + $0.01 + 0.10%
  • Category
  • High Yield Municipal Bonds

AAHMX - Profile

Vitals

  • YTD Return 1.6%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $235 M
  • Holdings in Top 10 17.3%

52 WEEK LOW AND HIGH

$10.21
$10.02
$10.22

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.11%

SALES FEES

  • Front Load 2.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 86.19%

TRADING FEES

  • Max Redemption Fee 0.75%

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$1,000

Investment Themes

CATEGORY

High Yield Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Muni

Distributions

  • YTD Total Return 1.6%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.03%
DIVIDENDS
  • Dividend Yield 2.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Aberdeen Short Duration High Yield Municipal Fund
  • Fund Family Name Aberdeen
  • Inception Date May 31, 2013
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Mark Taylor

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets in municipal obligations that are exempt from federal income tax (including securities subject to the federal alternative minimum tax ("AMT")). It invests at least 50% of its assets in municipal bonds rated BBB or lower by S&P Global Ratings, a division of S&P Global Inc., or Baa or lower by Moody's Investor Service, Inc., at the time of investment, or the equivalent by another independent rating agency or the unrated equivalent as determined by the Adviser.

AAHMX - Performance

Return Ranking - Trailing

Period AAHMX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% 1.5% 6.6% 100.00%
1 Yr 0.1% -0.4% 6.6% 96.06%
3 Yr N/A* -2.2% 2.4% N/A
5 Yr N/A* -0.5% 2.0% N/A
10 Yr N/A* 0.8% 6.5% N/A

* Annualized


Return Ranking - Calendar

Period AAHMX Return Category Return Low Category Return High Rank in Category (%)
2018 N/A -5.6% 4.2% N/A
2017 N/A 0.0% 8.6% N/A
2016 N/A -6.7% -1.2% N/A
2015 N/A -2.0% 2.9% N/A
2014 N/A 3.6% 83.0% N/A

Total Return Ranking - Trailing

Period AAHMX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% 1.4% 6.7% 100.00%
1 Yr 0.1% -0.4% 7.2% 96.06%
3 Yr N/A* -2.1% 3.2% N/A
5 Yr N/A* -0.5% 5.3% N/A
10 Yr N/A* 0.8% 7.3% N/A

* Annualized


Total Return Ranking - Calendar

Period AAHMX Return Category Return Low Category Return High Rank in Category (%)
2018 N/A -3.7% 4.2% N/A
2017 N/A 0.0% 9.8% N/A
2016 N/A -4.6% 0.8% N/A
2015 N/A -2.0% 5.3% N/A
2014 N/A 3.6% 83.0% N/A

NAV & Total Return History

AAHMX - Holdings

Concentration Analysis

AAHMX Category Low Category High AAHMX % Rank
Net Assets 235 M 45.7 M 18.9 B 85.83%
Number of Holdings 306 42 3378 71.65%
Net Assets in Top 10 36.9 M 4.84 M 2.12 B 82.68%
Weighting of Top 10 17.25% 4.3% 39.1% 17.32%

Top 10 Holdings

  1. AMSTERDAM N Y 5.5% 3.16%

  2. MISSISSIPPI BUSINESS FIN CORP MISS REV 2.75% 2.34%

  3. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5.12% 1.98%

  4. PUERTO RICO PUB BLDGS AUTH REV GTD 6% 1.54%

  5. PENNSYLVANIA ECONOMIC DEV FIN AUTH EXEMPT FAC REV 5% 1.47%

  6. TARRANT CNTY TEX CULTURAL ED FACS FIN CORP RETIREMENT FAC REV 5.62% 1.45%

  7. TEXAS MUN GAS ACQUISITION & SUPPLY CORP I GAS SUPPLY REV 6.25% 1.38%

  8. PORT CORPUS CHRISTI AUTH TEX NUECES CNTY SOLID WASTE DISP REV 1.61% 1.37%

  9. LEE CNTY FLA INDL DEV AUTH INDL DEV REV 1.48% 1.36%

  10. OHIO CNTY KY POLLUTION CTL REV 6% 1.20%


Asset Allocation

Weighting Return Low Return High AAHMX % Rank
Bonds
96.53% 81.91% 103.81% 84.25%
Cash
3.47% -3.81% 18.09% 21.26%
Stocks
0.00% 0.00% 0.55% 95.28%
Preferred Stocks
0.00% 0.00% 0.42% 95.28%
Other
0.00% 0.00% 1.02% 95.28%
Convertible Bonds
0.00% 0.00% 0.00% 95.28%

Bond Sector Breakdown

Weighting Return Low Return High AAHMX % Rank
Municipal
96.53% 91.17% 103.28% 78.74%
Cash & Equivalents
3.47% -3.28% 18.09% 17.32%
Derivative
0.00% -0.12% 0.05% 93.70%
Securitized
0.00% 0.00% 0.02% 95.28%
Corporate
0.00% 0.00% 2.77% 95.28%
Government
0.00% -10.34% 4.74% 87.40%

Bond Geographic Breakdown

Weighting Return Low Return High AAHMX % Rank
US
88.60% 77.16% 103.27% 82.68%
Non US
7.93% 0.00% 12.42% 13.39%

AAHMX - Expenses

Operational Fees

AAHMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.11% 0.27% 1.97% 34.65%
Management Fee 0.65% 0.26% 0.75% 97.64%
12b-1 Fee 0.25% 0.00% 1.00% 53.13%
Administrative Fee N/A 0.01% 0.35% N/A

Sales Fees

AAHMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.50% 1.00% 4.75% 82.05%
Deferred Load N/A 0.60% 5.50% N/A

Trading Fees

AAHMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 0.75% 0.75% 2.00% 100.00%

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.

AAHMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 86.19% 3.00% 119.00% 93.70%

AAHMX - Distributions

Dividend Yield Analysis

AAHMX Category Low Category High AAHMX % Rank
Dividend Yield 1.99% 0.01% 3.69% 17.32%

Dividend Distribution Analysis

AAHMX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

AAHMX Category Low Category High AAHMX % Rank
Net Income Ratio 3.03% 1.46% 5.35% 85.83%

Capital Gain Distribution Analysis

AAHMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Annually

AAHMX - Managers

Mark Taylor

Manager

Start Date

Tenure

Tenure Rank

May 31, 2013

6.0

6.0%

Mr. Taylor is an Investment Director and Senior Portfolio manager on the US Fixed Income Team responsible for the management of the Tax-Exempt Municipal portfolios. Mr. Taylor joined Aberdeen Standard Investments in 2018 following the acquisition of the municipal strategies from Alpine Woods Capital, LLC. From 2012 to 2018, Mr. Taylor was employed by Alpine as its Head of Municipal Research as well as a portfolio manager. Prior to joining Alpine, Mr. Taylor worked at Barclays Capital as a Vice President in the Global Financial Risk Management group. During the first six years of his career, Mr. Taylor worked at Moody’s Investors Service as a Municipal Credit Analyst. Mr. Taylor has a Bachelor’s degree from Northeastern University.


Jonathan Mondillo

Manager

Start Date

Tenure

Tenure Rank

May 31, 2013

6.0

6.0%

Mr. Mondillo, Head of Municipals, is a Senior Portfolio manager on the US Fixed Income Team responsible for the management of the Tax-Exempt Municipal portfolios. He joined Aberdeen Standard Investments in 2018 following the acquisition of the municipal strategies from Alpine Woods Capital Investors, LLC. From 2008 to 2018, Mr. Mondillo was employed by Alpine as its Head of Fixed Income Trading as well as a portfolio manager. Prior to joining Alpine, Mr. Mondillo worked as an analyst within Fidelity Capital Markets’ Fixed Income Trading Group. Mr. Mondillo has a Bachelor’s degree from Bentley University.


Lesya Paisley

Manager

Start Date

Tenure

Tenure Rank

Mar 07, 2018

1.23

1.2%

Ms. Paisley, CFA, is an Investment Director and Senior Portfolio manager on the North American Fixed Income team. Ms. Paisley is the sector portfolio manager in the taxable municipal market in addition to portfolio management responsibilities in the corporate market. Additionally, Lesya has over ten years of experience in credit research covering a variety of municipal and corporate sectors. Lesya joined Aberdeen via the acquisition of Deutsche Asset Management’s London and Philadelphia fixed income businesses in 2005. She had been with DeAM from September 2003. Lesya graduated with a BS from the University of Virginia, McIntire School of Commerce and is a CFA charter-holder.


Tenure Analysis

Category Low

0.26

Category High

30.43

Category Average

8.56

Category Mode

6.33