Anchor Risk Mgd Municipal Strats Adv
Name
As of 07/06/2022Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-11.6%
1 yr return
-8.4%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
1.4%
Net Assets
$12 M
Holdings in Top 10
72.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 3.54%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 13.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 07/06/2022Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
ATAMX - Profile
Distributions
- YTD Total Return -11.6%
- 3 Yr Annualized Total Return -0.3%
- 5 Yr Annualized Total Return 1.4%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.91%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameAnchor Risk Managed Municipal Strategies Fund
-
Fund Family NameAnchor
-
Inception DateJul 15, 2020
-
Shares OutstandingN/A
-
Share ClassAdv
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerEric Leake
Fund Description
The Fund seeks to achieve its investment objective, utilizing a fund of funds structure, by allocating assets among various strategies based on the advisers research and analysis regarding market trends. A market trend is the movement of a financial market in a particular direction over time. Under normal market conditions, the Fund invests, directly or indirectly through unaffiliated exchange traded funds (ETFs) and mutual funds (together with ETFs, Underlying Funds), at least 80% of its net assets (plus the amount of borrowings, if any) in long and short positions in municipal debt instruments. The Fund takes a long position, or purchases shares of a security, when the adviser believes a security will increase in value, and a short position, or sells shares of borrowed stock, when the adviser believes the value of a security will decrease. The Fund takes long and short positions in securities that provide returns similar to municipal bonds based on long, intermediate, and short-term trends. The adviser considers a long-term trend to be those that are observed over two years or more; intermediate trends to last between nine to 24 months; and short-term trends to take place up to nine months.
At least 80% of the Funds assets is invested in:
(1) | Underlying Funds that primarily invest in or are otherwise exposed to domestic municipal debt instruments; |
(2) | derivative instruments, including options, futures, total return swaps, or credit default swaps designed to replicate some or all of the features of an underlying portfolio of municipal bonds; and |
(3) | other U.S. or foreign fixed-income securities of any rating (including junk bonds). |
The Fund may also invest in U.S. or foreign cash equivalents including money market funds and treasuries.
The adviser seeks to achieve the Funds secondary objective by managing risk through hedging the Funds investment portfolio when it believes security prices will decline. The adviser will hedge by:
(i) | increasing allocations to cash equivalents or U.S. Treasury securities; |
(ii) | purchasing inverse mutual funds or inverse ETFs; and |
(iii) | selling short ETFs or securities the adviser believes have demonstrated a high correlation to municipal bonds. |
The Fund may invest in inverse funds linked to U.S. Treasury securities when the adviser believes this strategy will provide an effective hedge to manage interest rate risk.
Generally, the adviser does not attempt to evaluate individual securities. The adviser uses technical analysis, including monitoring price movements and price trends, of municipal bond markets in an effort to identify the proper weighting of the Funds portfolio. The advisers decision to buy or sell a Fund holding is made based on adviser developed trend and risk models that evaluate current market conditions, and this analysis guides the advisers determination of the appropriate exposure level to the municipal bond market. The adviser buys and sells securities and derivatives to increase or decrease the Funds exposure to the municipal bond market.
The Fund invests its assets such that at least 80% of the income distributed by the Fund will be tax-exempt.
The adviser may engage in active and frequent trading of the Funds portfolio securities and derivatives to achieve the Funds investment objective.
ATAMX - Performance
Return Ranking - Trailing
Period | ATAMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -11.6% | -86.8% | 8.7% | 84.23% |
1 Yr | -8.4% | -16.3% | 15.7% | 88.54% |
3 Yr | -0.3%* | -6.2% | 10.3% | 82.97% |
5 Yr | 1.4%* | -3.5% | 5.7% | 55.36% |
10 Yr | N/A* | -0.6% | 8.3% | N/A |
* Annualized
Return Ranking - Calendar
Period | ATAMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -91.1% | 101.7% | N/A |
2022 | N/A | -79.2% | 310.0% | N/A |
2021 | N/A | -66.1% | 15.4% | N/A |
2020 | N/A | -57.4% | 97.2% | N/A |
2019 | N/A | -100.0% | 6.8% | N/A |
Total Return Ranking - Trailing
Period | ATAMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -11.6% | -86.8% | 8.7% | 83.60% |
1 Yr | -8.4% | -16.3% | 23.6% | 73.15% |
3 Yr | -0.3%* | -7.0% | 11.5% | 70.21% |
5 Yr | 1.4%* | -4.0% | 5.7% | 46.22% |
10 Yr | N/A* | -0.6% | 8.3% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | ATAMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -91.1% | 101.7% | N/A |
2022 | N/A | -79.2% | 310.0% | N/A |
2021 | N/A | -66.1% | 15.4% | N/A |
2020 | N/A | -57.4% | 97.2% | N/A |
2019 | N/A | -48.8% | 7.0% | N/A |
NAV & Total Return History
ATAMX - Holdings
Concentration Analysis
ATAMX | Category Low | Category High | ATAMX % Rank | |
---|---|---|---|---|
Net Assets | 12 M | 1.23 M | 73.9 B | 98.36% |
Number of Holdings | 17 | 1 | 14000 | 89.42% |
Net Assets in Top 10 | 12.2 M | -317 M | 8.64 B | 68.25% |
Weighting of Top 10 | 72.77% | 2.4% | 100.0% | 14.58% |
Top 10 Holdings
- First American Government Obligs X 19.07%
- Nuveen AMT-Free Muni Credit Inc 11.68%
- Nuveen AMT-Free Quality Muni Inc 7.89%
- Nuveen CA Quality Muni Income 7.07%
- Nuveen Municipal Value 7.03%
- Nuveen Quality Muni Income Fund 6.89%
- Nuveen Municipal Credit Income 6.50%
- BlackRock MuniYield CA Quality 6.42%
- BlackRock MuniHoldings CA Qty 6.03%
- BlackRock MuniYield CA 5.52%
Asset Allocation
Weighting | Return Low | Return High | ATAMX % Rank | |
---|---|---|---|---|
Bonds | 68.39% | 0.00% | 150.86% | 99.69% |
Cash | 31.38% | -50.86% | 100.00% | 0.18% |
Stocks | 0.23% | -0.03% | 4.63% | 2.16% |
Preferred Stocks | 0.00% | -1.79% | 0.04% | 14.55% |
Other | 0.00% | -13.03% | 30.01% | 15.96% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 14.86% |
Stock Sector Breakdown
Weighting | Return Low | Return High | ATAMX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 0.00% | 31.25% |
Technology | 0.00% | 0.00% | 0.00% | 31.25% |
Real Estate | 0.00% | 0.00% | 0.00% | 31.25% |
Industrials | 0.00% | 0.00% | 100.00% | 12.50% |
Healthcare | 0.00% | 0.00% | 0.00% | 31.25% |
Financial Services | 0.00% | 0.00% | 0.00% | 31.25% |
Energy | 0.00% | 0.00% | 0.00% | 31.25% |
Communication Services | 0.00% | 0.00% | 100.00% | 31.25% |
Consumer Defense | 0.00% | 0.00% | 0.00% | 31.25% |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | 56.25% |
Basic Materials | 0.00% | 0.00% | 0.00% | 87.50% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | ATAMX % Rank | |
---|---|---|---|---|
US | 0.23% | -0.03% | 4.63% | 2.16% |
Non US | 0.00% | 0.00% | 0.00% | 14.64% |
Bond Sector Breakdown
Weighting | Return Low | Return High | ATAMX % Rank | |
---|---|---|---|---|
Municipal | 65.23% | 0.00% | 100.00% | 99.82% |
Cash & Equivalents | 34.76% | 0.00% | 100.00% | 0.13% |
Corporate | 0.01% | 0.00% | 9.99% | 16.14% |
Derivative | 0.00% | 0.00% | 21.68% | 14.73% |
Securitized | 0.00% | 0.00% | 5.93% | 15.92% |
Government | 0.00% | 0.00% | 52.02% | 20.19% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | ATAMX % Rank | |
---|---|---|---|---|
US | 65.83% | 0.00% | 142.23% | 99.65% |
Non US | 2.56% | 0.00% | 62.14% | 27.43% |
ATAMX - Expenses
Operational Fees
ATAMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 3.54% | 0.02% | 3.79% | 0.13% |
Management Fee | 1.60% | 0.00% | 1.60% | 100.00% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
ATAMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 4.90% | N/A |
Deferred Load | N/A | 0.25% | 5.50% | N/A |
Trading Fees
ATAMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | 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.
ATAMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 13.00% | 0.00% | 283.00% | 33.93% |
ATAMX - Distributions
Dividend Yield Analysis
ATAMX | Category Low | Category High | ATAMX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 35.27% | 23.22% |
Dividend Distribution Analysis
ATAMX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
ATAMX | Category Low | Category High | ATAMX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.91% | -0.53% | 24.00% | 52.23% |
Capital Gain Distribution Analysis
ATAMX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Monthly | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Jun 30, 2022 | $0.052 | OrdinaryDividend |
Jun 02, 2022 | $0.021 | OrdinaryDividend |
May 04, 2022 | $0.021 | OrdinaryDividend |
Dec 13, 2021 | $0.056 | OrdinaryDividend |
Dec 03, 2021 | $0.016 | OrdinaryDividend |
Nov 03, 2021 | $0.016 | OrdinaryDividend |
Sep 03, 2021 | $0.020 | OrdinaryDividend |
Aug 04, 2021 | $0.017 | OrdinaryDividend |
Jul 06, 2021 | $0.018 | OrdinaryDividend |
Jun 03, 2021 | $0.017 | OrdinaryDividend |
May 05, 2021 | $0.017 | OrdinaryDividend |
Apr 05, 2021 | $0.015 | OrdinaryDividend |
Dec 10, 2020 | $0.020 | OrdinaryDividend |
ATAMX - Fund Manager Analysis
Managers
Eric Leake
Start Date
Tenure
Tenure Rank
Sep 06, 2016
5.73
5.7%
Eric Leake is President and Chief Investment Officer to Anchor Capital. Mr. Leake is a level II Chartered Market Technician, member of the Market Technicians Association, American Association of Professional Technical Analysts (AAPTA), and a former board memeber to the National Association of Active Investment Managers. Mr. Leake is also a member of the Board of Trustees for the Cambria ETF Trust, a manager to several listed exchange traded funds. Mr. Leake attended Azusa Pacific University majoring in Communications and is an active surfer and coach to youth AYSO soccer and NJB basketball teams.
Garrett Waters
Start Date
Tenure
Tenure Rank
Sep 06, 2016
5.73
5.7%
Garrett Waters is Chief Executive Officer to Anchor Capital. Before joining Anchor Capital in 2009 Garrett began his investment career in New York City with J.P. Morgan Investment Management within its Institutional Investment Management division, then as a principal with Barclays Global Investors. Mr. Waters was involved in institutional and private fund management with Hollencrest Capital Management in 2001 and Pacific Financial Advisers. Garrett is a graduate of Villanova University with a degree in business. Garrett is the former Commissioner for Beaches, Parks and Recreation for the city of San Clemente and is an active surfer and tennis player. Garrett lives in San Clemente, CA along with his wife and two children.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.22 | 1.58 |