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ATOAX Aberdeen Ultra Short Municipal Inc A

  • Fund
  • ATOAX
  • Price as of: Jul 18, 2019
  • $10.10 - $0.00 - 0.00%
  • Category
  • National Munis

ATOAX - Profile

Vitals

  • YTD Return 0.1%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $917 M
  • Holdings in Top 10 29.8%

52 WEEK LOW AND HIGH

$10.10
$10.09
$10.10

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.92%

SALES FEES

  • Front Load 0.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 177.63%

TRADING FEES

  • Max Redemption Fee 0.25%

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$1,000

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Short

Distributions

  • YTD Total Return 0.1%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.08%
DIVIDENDS
  • Dividend Yield 0.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Aberdeen Ultra Short Municipal Income Fund
  • Fund Family Name Aberdeen
  • Inception Date Mar 30, 2004
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Jonathan Mondillo

Fund Description

The fund invests its assets in a combination of tax-exempt obligations and taxable debt obligations. Under normal circumstances, it invests at least 80% of its net assets in tax-exempt obligations. The fund's average portfolio maturity, at the time of investment, will be two years or less. The obligations in which the fund invests must, at the time of investment, be rated investment grade, as determined by the various rating agencies, or if unrated, of comparable quality as determined by the Adviser.

ATOAX - Performance

Return Ranking - Trailing

Period ATOAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.1% 0.0% 5.7% 99.20%
1 Yr 0.0% -2.9% 5.5% 96.42%
3 Yr N/A* -3.2% 1.3% N/A
5 Yr N/A* -1.8% 2.2% N/A
10 Yr N/A* -8.7% 2.3% N/A

* Annualized


Return Ranking - Calendar

Period ATOAX Return Category Return Low Category Return High Rank in Category (%)
2018 N/A -4.8% 0.8% N/A
2017 N/A -0.9% 5.6% N/A
2016 N/A -6.1% 7.3% N/A
2015 N/A -10.9% 2.6% N/A
2014 N/A -60.4% 12.0% N/A

Total Return Ranking - Trailing

Period ATOAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.1% 0.0% 6.0% 99.20%
1 Yr 0.0% -2.8% 6.9% 96.62%
3 Yr N/A* -3.2% 3.2% N/A
5 Yr N/A* -1.8% 3.7% N/A
10 Yr N/A* -8.7% 4.8% N/A

* Annualized


Total Return Ranking - Calendar

Period ATOAX Return Category Return Low Category Return High Rank in Category (%)
2018 N/A -4.8% 1.7% N/A
2017 N/A -0.9% 6.2% N/A
2016 N/A -6.1% 7.3% N/A
2015 N/A -9.6% 3.9% N/A
2014 N/A -60.4% 12.0% N/A

NAV & Total Return History

ATOAX - Holdings

Concentration Analysis

ATOAX Category Low Category High ATOAX % Rank
Net Assets 917 M 762 K 68.3 B 54.87%
Number of Holdings 126 3 8426 83.47%
Net Assets in Top 10 288 M -4.59 M 2.02 B 21.71%
Weighting of Top 10 29.75% 2.5% 100.0% 7.37%

Top 10 Holdings

  1. MISSISSIPPI BUSINESS FIN CORP MISS REV 2.75% 6.41%

  2. CHICAGO ILL BRD ED 1.95% 4.57%

  3. IOWA FIN AUTH SOLID WASTE FACS REV 1.55% 3.10%

  4. BROWARD CNTY FLA INDL DEV REV 1.48% 2.67%

  5. WEST VIRGINIA ECONOMIC DEV AUTH SOLID WASTE DISP FACS REV 1.65% 2.48%

  6. PORT CORPUS CHRISTI AUTH TEX NUECES CNTY SOLID WASTE DISP REV 1.61% 2.29%

  7. FLORIDA DEV FIN CORP HEALTHCARE FACS REV 1.91% 2.27%

  8. GAINESVILLE & HALL CNTY GA HOSP AUTH REV ANTIC CTFS 1.73% 2.07%

  9. HERTFORD CNTY N C INDL FACS & POLLUTN CTL FING AUTH INDL DEVREV 1.7% 1.95%

  10. PALOMAR POMERADO HEALTH CARE DIST CALIF CTFS PARTN 2.2% 1.93%


Asset Allocation

Weighting Return Low Return High ATOAX % Rank
Bonds
96.72% 17.56% 101.83% 66.33%
Cash
3.28% -1.83% 82.44% 31.87%
Stocks
0.00% 0.00% 0.39% 13.55%
Preferred Stocks
0.00% 0.00% 8.94% 12.95%
Other
0.00% -2.64% 30.00% 16.73%
Convertible Bonds
0.00% 0.00% 2.66% 13.75%

Bond Sector Breakdown

Weighting Return Low Return High ATOAX % Rank
Municipal
96.72% 0.00% 104.99% 62.15%
Cash & Equivalents
3.28% -8.39% 82.44% 33.86%
Derivative
0.00% 0.00% 0.08% 13.75%
Securitized
0.00% 0.00% 23.62% 15.94%
Corporate
0.00% 0.00% 39.71% 28.09%
Government
0.00% -6.32% 93.35% 18.53%

Bond Geographic Breakdown

Weighting Return Low Return High ATOAX % Rank
US
96.72% 17.56% 101.37% 59.16%
Non US
0.00% 0.00% 23.82% 71.31%

ATOAX - Expenses

Operational Fees

ATOAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.92% 0.09% 4.80% 35.39%
Management Fee 0.50% 0.00% 0.65% 81.91%
12b-1 Fee 0.25% 0.00% 1.00% 35.42%
Administrative Fee N/A 0.01% 0.34% N/A

Sales Fees

ATOAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 0.50% 0.50% 5.75% 100.00%
Deferred Load N/A 0.50% 5.50% N/A

Trading Fees

ATOAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 0.25% 0.25% 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.

ATOAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 177.63% 0.00% 739.25% 99.80%

ATOAX - Distributions

Dividend Yield Analysis

ATOAX Category Low Category High ATOAX % Rank
Dividend Yield 0.93% 0.00% 2.53% 17.50%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

ATOAX Category Low Category High ATOAX % Rank
Net Income Ratio 1.08% 0.01% 4.95% 93.64%

Capital Gain Distribution Analysis

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

ATOAX - Managers

Jonathan Mondillo

Manager

Start Date

Tenure

Tenure Rank

Feb 27, 2015

4.34

4.3%

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.


Mark Taylor

Manager

Start Date

Tenure

Tenure Rank

Feb 29, 2016

3.33

3.3%

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.


Lesya Paisley

Manager

Start Date

Tenure

Tenure Rank

Mar 07, 2018

1.32

1.3%

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

0.0

Category High

39.77

Category Average

7.57

Category Mode

4.32