AIIFX: Crow Point Alternative Income Instl

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AIIFX Crow Point Alternative Income Instl


Profile

AIIFX - Profile

Vitals

  • YTD Return -9.7%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $17.5 M
  • Holdings in Top 10 42.4%

52 WEEK LOW AND HIGH

$7.75
$7.30
$8.70

Expenses

OPERATING RELATED FEES

  • Expense Ratio 3.29%

SALES FEES

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

BROKERAGE FEES

  • Turnover 169.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA $1,000

Fund Classification

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

Distributions

  • YTD Total Return -9.7%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.42%
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Crow Point Alternative Income Fund
  • Fund Family Name
    Crow Point
  • Inception Date
    Feb 13, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Peter DeCaprio

Fund Description

The fund seeks to achieve its investment objective under normal market conditions by allocating assets among credit related instruments such as corporate bonds, municipal bonds, mortgage and asset-backed securities, and floating rate securities. It may invest, directly and indirectly (through ETFs, ETNs, and mutual funds), in securities of issuers of any credit quality.


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Categories

Performance

AIIFX - Performance

Return Ranking - Trailing

Period AIIFX Return Category Return Low Category Return High Rank in Category (%)
YTD -9.7% -31.4% 13.4% 61.74%
1 Yr -7.3% -26.4% 9.7% 43.21%
3 Yr N/A* -14.0% 5.2% 25.82%
5 Yr N/A* -7.3% 2.6% 43.23%
10 Yr N/A* -4.4% 2.4% N/A

* Annualized

Return Ranking - Calendar

Period AIIFX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -7.4% 12.4% N/A
2018 N/A -9.2% 0.8% N/A
2017 N/A -12.3% 9.4% N/A
2016 N/A -2.8% 9.0% N/A
2015 N/A -11.1% 4.8% N/A

Total Return Ranking - Trailing

Period AIIFX Return Category Return Low Category Return High Rank in Category (%)
YTD -9.7% -31.4% 13.4% 61.74%
1 Yr -7.3% -26.4% 9.7% 43.21%
3 Yr N/A* -10.8% 5.2% 35.27%
5 Yr N/A* -7.2% 2.5% 65.07%
10 Yr N/A* -4.4% 3.8% N/A

* Annualized

Total Return Ranking - Calendar

Period AIIFX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -7.0% 12.6% N/A
2018 N/A -9.2% 4.1% N/A
2017 N/A -3.1% 15.2% N/A
2016 N/A -2.8% 11.2% N/A
2015 N/A -10.1% 5.4% N/A

NAV & Total Return History


Holdings

AIIFX - Holdings

Concentration Analysis

AIIFX Category Low Category High AIIFX % Rank
Net Assets 17.5 M 2.74 M 34.5 B 95.02%
Number of Holdings 60 11 4949 86.21%
Net Assets in Top 10 6.25 M -2.94 B 11.5 B 83.45%
Weighting of Top 10 42.41% 5.0% 866.9% 43.73%

Top 10 Holdings

  1. iShares Core US Aggregate Bond ETF 6.10%
  2. VanEck Vectors™ JPM EM LC Bd ETF A USD 5.77%
  3. Invesco Senior Loan ETF 4.64%
  4. EV Limited Duration Income 4.54%
  5. SPDR® Blmbg Barclays High Yield Bd ETF 4.46%
  6. K-20 Education 4.25%
  7. Royce Value Trust Inc 4.01%
  8. VanEck Vectors Fallen Angel HiYld Bd ETF 3.44%
  9. iShares JP Morgan EM Local Ccy Bd ETF 2.98%
  10. SPDR® Portfolio Short Term Corp Bd ETF 2.22%

Asset Allocation

Weighting Return Low Return High AIIFX % Rank
Bonds
76.58% 0.01% 367.71% 68.28%
Cash
10.87% -262.70% 76.18% 46.21%
Stocks
6.36% -43.16% 16.35% 7.93%
Other
4.26% -13.23% 125.73% 11.38%
Convertible Bonds
1.50% -1.28% 105.59% 36.90%
Preferred Stocks
0.43% 0.00% 19.94% 20.00%

Stock Sector Breakdown

Weighting Return Low Return High AIIFX % Rank
Financial Services
76.51% 0.00% 100.00% 9.38%
Technology
5.45% 0.00% 100.00% 24.48%
Healthcare
3.96% 0.00% 43.53% 25.52%
Communication Services
2.99% 0.00% 98.33% 46.88%
Industrials
2.73% 0.00% 100.00% 41.15%
Consumer Cyclical
2.70% 0.00% 100.00% 37.50%
Consumer Defense
2.11% 0.00% 24.08% 27.60%
Energy
1.18% 0.00% 100.00% 61.98%
Utilities
0.91% 0.00% 65.79% 41.67%
Real Estate
0.83% 0.00% 100.00% 39.58%
Basic Materials
0.64% 0.00% 40.36% 41.67%

Stock Geographic Breakdown

Weighting Return Low Return High AIIFX % Rank
US
6.36% -40.58% 15.87% 5.17%
Non US
0.00% -5.27% 13.30% 57.59%

Bond Sector Breakdown

Weighting Return Low Return High AIIFX % Rank
Corporate
67.51% 0.00% 93.82% 7.24%
Government
14.29% -7.42% 398.07% 54.48%
Cash & Equivalents
12.45% -103.66% 96.13% 41.72%
Securitized
5.70% 0.00% 98.27% 64.83%
Municipal
0.05% 0.00% 51.18% 25.17%
Derivative
0.00% -238.73% 70.10% 77.93%

Bond Geographic Breakdown

Weighting Return Low Return High AIIFX % Rank
US
55.79% 0.01% 137.78% 53.45%
Non US
20.79% -0.85% 256.81% 54.48%

Expenses

AIIFX - Expenses

Operational Fees

AIIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.29% 0.20% 14.11% 7.50%
Management Fee 1.00% 0.00% 2.15% 83.67%
12b-1 Fee 0.00% 0.00% 1.00% 7.74%
Administrative Fee N/A 0.03% 0.45% N/A

Sales Fees

AIIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.40% 6.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

AIIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.40% 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.

AIIFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 169.00% 0.00% 532.00% 74.41%

Distributions

AIIFX - Distributions

Dividend Yield Analysis

AIIFX Category Low Category High AIIFX % Rank
Dividend Yield 1.59% 0.00% 3.79% 3.33%

Dividend Distribution Analysis

AIIFX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Monthly Monthly Monthly

Net Income Ratio Analysis

AIIFX Category Low Category High AIIFX % Rank
Net Income Ratio 1.42% -0.23% 6.40% 95.05%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

AIIFX - Fund Manager Analysis

Managers

Peter DeCaprio


Start Date

Tenure

Tenure Rank

Feb 29, 2016

4.0

4.0%

Peter DeCaprio co-founded Crow Point Partners in 2006 and serves as the firm’s Chief Executive Officer. Previously, Mr. DeCaprio worked at Evergreen Investments as a senior analyst covering the utility, telecommunications, and media sectors, and was a senior equity analyst at Thomas Weisel Partners. He has also worked as an analyst at BancBoston Robertson Stephens, Dillon Read and Co. Inc., Houlihan Lokey Howard and Zukin, and TIAA-CREF. He is a graduate of Duke University’s Fuqua School of Business, where he received his MBA, and Tufts University where he received a Bachelor of Arts degree.

David Cleary


Start Date

Tenure

Tenure Rank

Oct 31, 2017

2.33

2.3%

David Cleary, CFA is a principal and portfolio manager at Crow Point Partners. Previously he spent 23 years at Lazard Asset Management where he held a series of senior portfolio management roles over multi asset and global fixed income strategies. He additionally served as the firm's global head of fixed income, a $26 billion platform. Prior to Lazard, David worked at UBS and IBJ Schroder, mostly in fixed income asset management roles. He began working in the asset management field in 1987 upon his graduation from Cornell University, with a BS in Business Management and Applied Economics. He is a CFA charterholder.

Adam Coons


Start Date

Tenure

Tenure Rank

Jun 13, 2019

0.72

0.7%

Adam’s primary responsibilities include trading, securities research, and risk analytics for the fixed income and equity portfolios. He also assists the Chief Investment Officer in developing strategies for the fixed income and equity portfolios. Adam is responsible for research in the Technology, Telecomm, Industrial and Utilities sectors. In addition, he is a member of the National Federation of Municipal Analysts.

Gregory Hahn


Start Date

Tenure

Tenure Rank

Jun 13, 2019

0.72

0.7%

Greg is the lead portfolio manager for our fixed income and equity strategies and is responsible for setting investment strategy and managing internal processes for portfolio management and security selection for the firm. In our investment process Greg approves all investment ideas and oversees credit analysis and portfolio structuring for portfolios. Prior to forming Winthrop Capital Management, Greg was the Chief Investment Officer and Senior Portfolio Manager for Oppenheimer Asset Management and its subsidiary, Oppenheimer Investment Management. There he was responsible for the oversight of the fixed income investment process. Greg also served as the Chief Investment Officer and Senior Portfolio Manager with Conseco Capital Management (40|86 Advisors). In addition to his investment management responsibilities at CCM, Greg was President and Trustee of its Registered Investment Companies including the Conseco Fund Group, the Conseco Series Trust, and the Conseco Strategic Income Fund. Also, Greg had responsibility for the $1.2 billion real estate and private equity portfolio. He holds a B.B.A. from the University of Wisconsin and an M.B.A. from Indiana University. He is a Chartered Financial Analyst, a member and former President of the CFA Society of Indianapolis, a former Trustee of the Indiana Public Employee Retirement System and has served as a member on the ACLI’s Committee on State Regulation of Investments. Greg currently serves as an independent director for the Fund Evaluation Group Absolute Access Fund. In addition, he is a member of the National Federation of Municipal Analysts. Mr. Hahn has over 35 years of investment management experience.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 25.18 5.65 1.6