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ACVHX AC Alternatives® Market Neutral Val C

  • Fund
  • ACVHX
  • Price as of: May 22, 2019
  • $8.70 - $0.01 - 0.12%
  • Category
  • Market Neutral

ACVHX - Profile

Vitals

  • YTD Return -2.5%
  • 3 Yr Annualized Return -5.6%
  • 5 Yr Annualized Return -2.7%
  • Net Assets $263 M
  • Holdings in Top 10 35.8%

52 WEEK LOW AND HIGH

$8.70
$8.63
$9.62

Expenses

OPERATING RELATED FEES

  • Expense Ratio 5.07%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 307.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

N/A

Investment Themes

CATEGORY

Market Neutral
  • Fund Type Open End Mutual Fund
  • Investment Style Market Neutral

Distributions

  • YTD Total Return -2.5%
  • 3 Yr Annualized Total Return -3.9%
  • 5 Yr Annualized Total Return -1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -2.10%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Semi-Annually

Fund Details

  • Legal Name AC Alternatives® Market Neutral Value Fund
  • Fund Family Name American Century Investments
  • Inception Date Oct 31, 2011
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager Kevin Toney

Fund Description

Under normal market conditions, the advisor intends to keep its assets invested primarily in U.S. equity securities. However, the fund may invest a portion of its assets in foreign securities. In addition, there may be times when it holds a significant portion of its assets in cash or cash equivalents.

ACVHX - Performance

Return Ranking - Trailing

Period ACVHX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.5% -10.6% 12.9% 63.10%
1 Yr -7.7% -33.6% 4.2% 65.48%
3 Yr -5.6%* -15.4% 5.5% 82.93%
5 Yr -2.7%* -22.9% 2.3% 68.35%
10 Yr N/A* -13.8% 14.1% N/A

* Annualized


Return Ranking - Calendar

Period ACVHX Return Category Return Low Category Return High Rank in Category (%)
2018 -9.0% -27.8% 6.2% 86.59%
2017 -1.7% -21.2% 6.1% 67.07%
2016 -0.4% -8.4% 7.9% 71.95%
2015 0.9% -71.0% 5.6% 24.05%
2014 -1.2% -7.6% 5.2% 64.18%

Total Return Ranking - Trailing

Period ACVHX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.5% -10.6% 12.9% 63.10%
1 Yr -7.7% -33.6% 6.8% 70.24%
3 Yr -3.9%* -13.3% 7.2% 75.61%
5 Yr -1.0%* -22.9% 3.8% 54.43%
10 Yr N/A* -13.8% 15.8% N/A

* Annualized


Total Return Ranking - Calendar

Period ACVHX Return Category Return Low Category Return High Rank in Category (%)
2018 -9.0% -27.8% 8.0% 86.59%
2017 0.7% -9.9% 7.0% 60.98%
2016 2.4% -8.4% 11.2% 51.22%
2015 2.6% -71.0% 5.6% 16.46%
2014 0.8% -7.6% 6.4% 55.22%

NAV & Total Return History

ACVHX - Holdings

Concentration Analysis

ACVHX Category Low Category High ACVHX % Rank
Net Assets 263 M 8.49 M 7.68 B 30.95%
Number of Holdings 166 11 1081 69.05%
Net Assets in Top 10 -19.1 M -35.7 M 748 M 90.48%
Weighting of Top 10 35.84% 5.9% 433.5% 42.86%

Top 10 Holdings

  1. Costco Wholesale Corp 4.78%

  2. Consumer Discret Sel Sect SPDR® ETF 4.06%

  3. Stryker Corp 3.93%

  4. Walmart Inc 3.83%

  5. Crane Co 3.60%

  6. VF Corp 3.47%

  7. Cree Inc 3.11%

  8. Fastenal Co 3.04%

  9. MSC Industrial Direct Co Inc Class A 3.01%

  10. Industrial Select Sector SPDR® ETF 3.01%


Asset Allocation

Weighting Return Low Return High ACVHX % Rank
Cash
100.11% -14.35% 104.02% 20.24%
Bonds
0.73% -88.90% 96.76% 33.33%
Other
0.00% -19.88% 92.70% 53.57%
Convertible Bonds
0.00% 0.00% 65.77% 44.05%
Stocks
-0.14% -24.07% 94.13% 84.52%
Preferred Stocks
-0.69% -0.69% 9.08% 97.62%

Bond Sector Breakdown

Weighting Return Low Return High ACVHX % Rank
Cash & Equivalents
100.10% -13.24% 104.02% 13.10%
Government
0.73% -88.90% 30.39% 17.86%
Derivative
0.00% 0.00% 15.96% 35.71%
Securitized
0.00% 0.00% 40.12% 34.52%
Municipal
0.00% 0.00% 3.41% 33.33%
Corporate
-0.70% -0.70% 74.86% 97.62%

Bond Geographic Breakdown

Weighting Return Low Return High ACVHX % Rank
US
0.73% -88.90% 69.52% 33.33%
Non US
0.00% 0.00% 27.24% 39.29%

ACVHX - Expenses

Operational Fees

ACVHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 5.07% 0.77% 5.07% 1.19%
Management Fee 1.65% 0.13% 2.00% 97.62%
12b-1 Fee 1.00% 0.00% 1.00% 82.61%
Administrative Fee N/A 0.04% 0.40% N/A

Sales Fees

ACVHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load 1.00% 1.00% 5.50% 33.33%

Trading Fees

ACVHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

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.

ACVHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 307.00% 52.00% 4753.00% 76.83%

ACVHX - Distributions

Dividend Yield Analysis

ACVHX Category Low Category High ACVHX % Rank
Dividend Yield 0.00% 0.00% 0.11% 69.05%

Dividend Distribution Analysis

ACVHX Category Low Category High Category Mode
Dividend Distribution Frequency Semi-Annually Annually Semi-Annually Annually

Dividend Payout History


Net Income Ratio Analysis

ACVHX Category Low Category High ACVHX % Rank
Net Income Ratio -2.10% -2.10% 2.72% 100.00%

Capital Gain Distribution Analysis

ACVHX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

ACVHX - Managers

Kevin Toney

Manager

Start Date

Tenure

Tenure Rank

Oct 31, 2011

7.5

7.5%

Kevin Toney, CFA, Vice President and Senior Portfolio Manager, joined American Century in 1999 as an investment analyst and became a portfolio manager in 2006. Mr. Toney was an associate at Toronto Dominion Securities. He has worked in the investment industry since 1993. He earned a bachelor’s degree in commerce from the University of Virginia and a master’s degree in business administration from The Wharton School of the University of Pennsylvania. He is a CFA charterholder and a member of the CFA Institute.


Phillip N. Davidson

Manager

Start Date

Tenure

Tenure Rank

Oct 31, 2011

7.5

7.5%

Phillip N. Davidson, CFA, is a portfolio manager. He is jointly and primarily responsible for the day-to-day management of American Century’s portion of the portfolio. Mr. Davidson is the Chief Investment Officer – Global Value Equity, Senior Vice President, and Senior Portfolio Manager for American Century. He joined American Century in 1993 as a portfolio manager. Prior to joining American Century in 1993, Mr. Davidson was vice president and equity portfolio manager for Boatmen’s Trust Company in St. Louis.


Michael Liss

Manager

Start Date

Tenure

Tenure Rank

Oct 31, 2011

7.5

7.5%

Michael Liss, CFA, is Vice President and Senior Portfolio Manager of American Century. Mr. Liss has been with American Century since 1998. He holds a bachelor’s degree in accounting and finance from Albright College and an MBA in finance from Indiana University.


Brian Woglom

Manager

Start Date

Tenure

Tenure Rank

Feb 26, 2014

5.18

5.2%

Mr. Woglom, Vice President and Portfolio Manager, is a member of the team of investment professionals managing the U.S. Large Cap Value, U.S. Value Yield, U.S. Value, U.S. Mid Cap Value and U.S. Equity Market Neutral Value strategies and related accounts, and he co-manages U.S. Large Cap Value, U.S. Value, U.S. Mid Cap Value and U.S. Equity Market Neutral Value. He joined American Century Investments in 2005. Previously, Mr. Woglom was an investment analyst for Argo Partners and an analyst for the portfolio management unit of Metropolitan Life Insurance Co. He has worked in the investment industry since 1998. Mr. Woglom earned a bachelor’s degree in finance from Amherst College and a master’s degree in business administration from the University of Michigan. He is a CFA charterholder and a member of the CFA Institute.


Philip Sundell

Manager

Start Date

Tenure

Tenure Rank

Apr 29, 2019

0.0

0.0%


Tenure Analysis

Category Low

0.0

Category High

28.67

Category Average

6.45

Category Mode

5.37