AAIIX: Ancora Income I

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AAIIX Ancora Income I


Profile

AAIIX - Profile

Vitals

  • YTD Return -8.8%
  • 3 Yr Annualized Return -4.6%
  • 5 Yr Annualized Return -2.8%
  • Net Assets $15.7 M
  • Holdings in Top 10 37.9%

52 WEEK LOW AND HIGH

$7.22
$5.77
$7.97

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.53%

SALES FEES

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

BROKERAGE FEES

  • Turnover 103.17%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

  • Standard (Taxable) $5,000
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Multisector Bond

Distributions

  • YTD Total Return -8.8%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return 1.7%
  • Capital Gain Distribution Frequency Monthly
  • Net Income Ratio 3.82%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Ancora Income Fund
  • Fund Family Name
    Ancora
  • Inception Date
    Jan 05, 2004
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    James Bernard

Fund Description

The fund pursues its income objective by investing primarily in income-producing securities (such as debt securities, preferred stocks, high dividend-bearing common shares, common and preferred shares of closed-end investment companies). It will invest in shares of closed-end funds and convertible securities of large, small and mid-sized companies. The fund will invest only in securities of companies with market capitalizations of more than $500 million, except that the fund may invest in closed-end funds with market capitalizations of less than that amount.


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Categories

Performance

AAIIX - Performance

Return Ranking - Trailing

Period AAIIX Return Category Return Low Category Return High Rank in Category (%)
YTD -8.8% -55.0% 6.8% 88.24%
1 Yr -8.5% -55.3% 10.9% 86.43%
3 Yr -4.6%* -38.0% 4.9% 90.51%
5 Yr -2.8%* -32.7% 17.8% 88.14%
10 Yr N/A* -5.2% 0.9% 8.76%

* Annualized

Return Ranking - Calendar

Period AAIIX Return Category Return Low Category Return High Rank in Category (%)
2019 6.7% -35.1% 15.3% 32.82%
2018 -9.4% -48.0% 0.8% 91.72%
2017 0.7% -14.8% 11.2% 83.93%
2016 -0.2% -11.2% 19.1% 93.43%
2015 -3.4% -51.1% 4.0% 17.02%

Total Return Ranking - Trailing

Period AAIIX Return Category Return Low Category Return High Rank in Category (%)
YTD -8.8% -55.0% 6.8% 88.24%
1 Yr -8.5% -55.3% 6.2% 86.43%
3 Yr -1.4%* -38.0% 3.6% 74.58%
5 Yr 1.7%* -32.7% 17.8% 19.37%
10 Yr N/A* -5.2% 5.4% 8.76%

* Annualized

Total Return Ranking - Calendar

Period AAIIX Return Category Return Low Category Return High Rank in Category (%)
2019 7.9% -35.1% 15.3% 15.95%
2018 -4.1% -48.0% 4.8% 40.73%
2017 7.1% -14.8% 14.0% 15.00%
2016 6.2% -11.2% 22.5% 30.29%
2015 3.4% -51.1% 4.0% 1.70%

NAV & Total Return History


Holdings

AAIIX - Holdings

Concentration Analysis

AAIIX Category Low Category High AAIIX % Rank
Net Assets 15.7 M 6.88 M 120 B 96.80%
Number of Holdings 41 6 7819 91.22%
Net Assets in Top 10 5.94 M -201 M 5.37 B 88.39%
Weighting of Top 10 37.93% 5.8% 214.0% 36.89%

Top 10 Holdings

  1. GDL Fund FXDVR PRF REDEEM 26/03/2025 USD 50 - Ser C 4.95%
  2. Priority Income Fund, Inc. 6.375% PRF REDEEM 31/12/2024 USD 25 Ser E 3.86%
  3. Landmark Infrastructure Partners LP FRFXD PRF PERPETUAL USD 25 3.71%
  4. MVC Capital Inc 6.25% 3.70%
  5. Special Opportunities Fund Inc B 3.69%
  6. Global Net Lease Inc 6.875% PRF PERPETUAL USD 25 Ser B 3.66%
  7. ALLIANZGI CONV & INCOME FD II 5.5% 3.65%
  8. Aberdeen Asia-Pacific Income 3.65%
  9. Gabelli Global Utility & Income Trust FXDFR PRF PERPETUAL USD 50 - Ser B 3.59%
  10. Highland Income Fund 5.375% PRF PERPETUAL USD 25 - Ser A 3.46%

Asset Allocation

Weighting Return Low Return High AAIIX % Rank
Preferred Stocks
79.92% 0.00% 79.92% 0.28%
Bonds
9.56% 9.56% 233.78% 100.00%
Cash
8.15% -144.73% 61.37% 31.73%
Stocks
2.26% -0.56% 15.10% 22.25%
Convertible Bonds
0.12% 0.00% 15.09% 76.49%
Other
0.00% -8.59% 30.55% 82.72%

Stock Sector Breakdown

Weighting Return Low Return High AAIIX % Rank
Real Estate
50.12% 0.00% 100.00% 2.95%
Financial Services
49.88% 0.00% 100.00% 12.66%
Utilities
0.00% 0.00% 100.00% 90.30%
Technology
0.00% 0.00% 49.86% 86.50%
Industrials
0.00% 0.00% 99.46% 86.08%
Healthcare
0.00% 0.00% 51.13% 87.34%
Energy
0.00% 0.00% 100.00% 95.78%
Communication Services
0.00% 0.00% 100.00% 91.98%
Consumer Defense
0.00% 0.00% 30.61% 82.28%
Consumer Cyclical
0.00% 0.00% 100.00% 90.30%
Basic Materials
0.00% 0.00% 100.00% 84.39%

Stock Geographic Breakdown

Weighting Return Low Return High AAIIX % Rank
US
2.26% -0.62% 13.99% 21.53%
Non US
0.00% 0.00% 2.06% 85.84%

Bond Sector Breakdown

Weighting Return Low Return High AAIIX % Rank
Corporate
84.33% 0.00% 93.46% 6.80%
Cash & Equivalents
8.33% 0.12% 45.23% 39.09%
Government
7.23% 0.00% 99.82% 60.91%
Municipal
0.06% 0.00% 34.19% 39.66%
Securitized
0.05% 0.00% 99.12% 96.03%
Derivative
0.00% -0.44% 43.88% 87.54%

Bond Geographic Breakdown

Weighting Return Low Return High AAIIX % Rank
US
5.88% 5.88% 233.33% 100.00%
Non US
3.68% -46.36% 71.44% 86.40%

Expenses

AAIIX - Expenses

Operational Fees

AAIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.53% 0.06% 24.26% 36.71%
Management Fee 1.00% 0.00% 2.25% 87.02%
12b-1 Fee 0.00% 0.00% 1.00% 13.27%
Administrative Fee 0.10% 0.01% 0.70% 51.28%

Sales Fees

AAIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

AAIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 53.33%

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.

AAIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 103.17% 0.00% 421.00% 71.13%

Distributions

AAIIX - Distributions

Dividend Yield Analysis

AAIIX Category Low Category High AAIIX % Rank
Dividend Yield 0.00% 0.00% 4.72% 83.75%

Dividend Distribution Analysis

AAIIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

AAIIX Category Low Category High AAIIX % Rank
Net Income Ratio 3.82% 1.07% 18.14% 48.55%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

AAIIX - Fund Manager Analysis

Managers

James Bernard


Start Date

Tenure

Tenure Rank

May 01, 2020

0.16

0.2%

James M. Bernard, CFA, joined Ancora in 2006 as Director of Fixed Income. Jim manages taxable and tax-exempt fixed income portfolios for various institutional and high net worth individual accounts. In addition to portfolio management, he provides fixed income consulting services for various financial institutions. Jim managed fixed income portfolios as well as the Ohio Municipal Bond Fund and the Kentucky Municipal Common Trust Fund for Fifth Third Investment Advisors prior to joining Ancora Advisors. His prior experience include serving as Chief Investment Officer and Treasurer of a multi-line insurance organization in central Ohio. He also managed funds for banks and trust companies in Indiana and Kansas City during his 30 years in the investment business. Jim earned a Bachelor degree in Business Administration from Xavier University and an MBA from Ball State University. He is a member of the CFA Institute and the Cleveland Society of Financial Analysts. He is a registered representative holding Series 7 and Series 24 (principal) licenses. He is a board member and former Chairman of the Board of Solutions Behavioral Healthcare Incorporated, a non-profit mental health, alcohol, and drug abuse consulting provider.

Kevin Gale


Start Date

Tenure

Tenure Rank

May 01, 2020

0.16

0.2%

Mr. Gale joined Ancora Advisors in 2019 as part of the firm’s Fixed Income Team. Mr. Gale leads the team managing the firm’s various fixed income strategies as well as the individual portfolios for institutional and high net worth accounts. Prior to joining Ancora Advisors, Mr. Gale worked in various positions with increasing responsibility at KeyBank since 2000. Mr. Gale has a Bachelor of Science degree in Family Financial Management from The Ohio State University, and a Master of Business Administration from Cleveland State University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.16 29.15 5.77 5.5