BERIX: Berwyn Income

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BERIX Berwyn Income

  • Fund
  • BERIX
  • Price as of: Oct 16, 2019
  • $13.18 + $0.01 + 0.08%
  • Primary Category
  • Uncategorized

BERIX - Profile

Vitals

  • YTD Return 4.8%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $1.05 B
  • Holdings in Top 10 15.8%

52 WEEK LOW AND HIGH

$13.18
$12.56
$13.30

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.64%

SALES FEES

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

BROKERAGE FEES

  • Turnover 75.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$1,000

Fund Classification

PRIMARY CATEGORY

Uncategorized
  • Fund Type Open End Mutual Fund
  • Investment Style Allocation--15% to 30% Equity

Distributions

  • YTD Total Return 4.8%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.18%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Berwyn Income Fund
  • Fund Family Name Chartwell Investment Partners
  • Inception Date Sep 03, 1987
  • Shares Outstanding N/A
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager T. Ryan Harkins

Fund Description

The Berwyn Income Fund (BERIX) is a low-cost, actively managed fund that seeks to provide a high level of current income. BERIX uses a two-sided approach to achieve its objective. First, it uses a value selection method to invest in a variety of corporate-based, fixed-income securities, which can include corporate bonds, convertibles and preferred stocks. Second, the fund can hold up to 30% of its portfolio in dividend-paying equities. The dual combination provides a high level of current income.

Given its dual mandate and potential for high income, BERIX makes an ideal subcore position for those seeking a paycheck from their portfolios. The fund is managed by the Killen Group.

BERIX - Performance

Return Ranking - Trailing

Period BERIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.8% -39.8% 28.6% 87.75%
1 Yr -1.1% -95.5% 33.0% 70.92%
3 Yr N/A* -62.9% 25.3% N/A
5 Yr N/A* -45.4% 14.3% N/A
10 Yr N/A* -37.9% 15.6% N/A

* Annualized


Return Ranking - Calendar

Period BERIX Return Category Return Low Category Return High Rank in Category (%)
2018 -6.3% -93.5% 19.0% 18.39%
2017 N/A -44.7% 46.3% N/A
2016 N/A -84.5% 146.1% N/A
2015 N/A -40.7% 14.6% N/A
2014 N/A -35.0% 306.6% N/A

Total Return Ranking - Trailing

Period BERIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.8% -39.8% 28.6% 87.95%
1 Yr -1.1% -24.5% 33.0% 78.59%
3 Yr N/A* -49.9% 25.3% N/A
5 Yr N/A* -40.3% 14.3% N/A
10 Yr N/A* -37.9% 15.4% N/A

* Annualized


Total Return Ranking - Calendar

Period BERIX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.6% -27.2% 19.0% 26.96%
2017 N/A -44.7% 46.3% N/A
2016 N/A -84.5% 146.1% N/A
2015 N/A -36.9% 14.6% N/A
2014 N/A -35.0% 306.6% N/A

NAV & Total Return History

BERIX - Holdings

Concentration Analysis

BERIX Category Low Category High BERIX % Rank
Net Assets 1.05 B 595 K 150 B 31.52%
Number of Holdings 212 2 13525 42.32%
Net Assets in Top 10 175 M -32.5 M 27.3 B 44.00%
Weighting of Top 10 15.77% 9.0% 808.8% 92.13%

Top 10 Holdings

  1. JPMorgan Chase & Co. 3.51% 1.84%

  2. Federal Home Loan Banks 3.65% 1.80%

  3. Chesapeake Energy Corp Conv Pfd Shs 1.62%

  4. Tiffany & Co. 4.9% 1.59%

  5. Federal Farm Credit Banks 3.07% 1.59%

  6. Federal Farm Credit Banks 2.99% 1.53%

  7. Federal National Mortgage Association 2.5% 1.50%

  8. Lmrec 2019-Cre3 Llc 3.78% 1.48%

  9. Tapestry Inc 4.12% 1.45%

  10. United States Treasury Notes 2.62% 1.37%


Asset Allocation

Weighting Return Low Return High BERIX % Rank
Bonds
64.91% -35.77% 80.79% 14.96%
Stocks
29.34% -41.01% 85.51% 72.24%
Cash
3.25% -46.53% 72.58% 54.13%
Preferred Stocks
2.49% 0.00% 49.94% 13.48%
Other
0.00% -36.58% 100.69% 62.30%
Convertible Bonds
0.00% 0.00% 88.42% 83.46%

Stock Sector Breakdown

Weighting Return Low Return High BERIX % Rank
Financial Services
6.65% -7.21% 29.64% 49.15%
Real Estate
4.38% -8.18% 50.68% 13.79%
Utilities
3.38% -2.30% 56.62% 12.09%
Consumer Cyclical
3.37% -10.48% 41.19% 59.24%
Industrials
2.92% -2.39% 24.83% 70.83%
Energy
2.48% -2.02% 67.98% 48.65%
Healthcare
2.35% -6.04% 21.65% 80.52%
Basic Materials
2.32% -1.69% 15.06% 17.88%
Consumer Defense
0.74% -4.20% 11.56% 84.12%
Technology
0.49% -18.03% 25.15% 92.11%
Communication Services
0.27% -6.69% 6.14% 87.81%

Stock Geographic Breakdown

Weighting Return Low Return High BERIX % Rank
US
29.21% -41.02% 95.72% 61.42%
Non US
0.13% -71.32% 29.49% 88.78%

Bond Sector Breakdown

Weighting Return Low Return High BERIX % Rank
Corporate
38.86% -8.79% 89.23% 9.35%
Government
15.06% -149.28% 80.79% 38.29%
Securitized
13.48% 0.00% 45.59% 35.24%
Cash & Equivalents
3.25% -46.36% 335.52% 52.56%
Derivative
0.00% -84.86% 22.55% 36.81%
Municipal
0.00% 0.00% 58.02% 66.63%

Bond Geographic Breakdown

Weighting Return Low Return High BERIX % Rank
US
62.92% -36.43% 358.36% 8.96%
Non US
1.99% -302.38% 18.65% 69.98%

BERIX - Expenses

Operational Fees

BERIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.64% 0.00% 18.45% 75.38%
Management Fee 0.50% 0.00% 2.00% 42.86%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.05% 0.00% 0.83% 20.70%

Sales Fees

BERIX 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

BERIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 0.75% 2.00% 77.65%

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.

BERIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 75.00% 0.00% 1373.00% 68.81%

BERIX - Distributions

Dividend Yield Analysis

BERIX Category Low Category High BERIX % Rank
Dividend Yield 0.00% 0.00% 11.89% 86.81%

Dividend Distribution Analysis

BERIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Quarterly Annually

Dividend Payout History


Net Income Ratio Analysis

BERIX Category Low Category High BERIX % Rank
Net Income Ratio 2.18% -4.09% 6.65% 29.63%

Capital Gain Distribution Analysis

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

BERIX - Managers

T. Ryan Harkins

Manager

Start Date

Tenure

Tenure Rank

Mar 01, 2019

0.58

0.6%

Mr. Harkins is a Senior Portfolio Manager and has been with Chartwell since 2007. He is a member of the investment team responsible for managing the firm’s small and mid cap value strategies. Previously, Mr. Harkins was a Portfolio Manager at Credit Suisse Asset Management. He joined CSAM as an equity analyst in 2002 after graduating from The Wharton School where he earned an MBA with Concentrations in Finance and Entrepreneurial Management. He is a Chartered Financial Analyst and a member of the CFA Institute. Before entering Wharton and transitioning to the investment management industry, Mr. Harkins was an investment banking analyst and a member of the Private Equity Group at Morgan Keegan & Company where he helped privately-owned companies raise capital and evaluate strategic alternatives. He joined Morgan Keegan in 1997 after earning a BA in Economics at Duke University. Mr. Harkins was awarded a U.S. Army ROTC Scholarship at Duke, and he completed four years of military training while pursuing his bachelor’s degree. After graduating, he served as an adjutant general officer in the U.S. Army Reserve from 1997 to 2005.


Andrew S. Toburen

Manager

Start Date

Tenure

Tenure Rank

Mar 01, 2019

0.58

0.6%

Andrew S. Toburen, CFA, is a Senior Portfolio Manager and has been with Chartwell since 1999. He is responsible for overseeing all of the high yield fixed income assets at Chartwell. From 1994 to 1997, Mr. Toburen was part of a team managing over $3 billion in high yield corporate bond assets at Nomura Corporate Research and Asset Management, Inc. Mr. Toburen holds a Bachelor’s degree in Economics from Yale University and an MBA from Cornell University’s Johnson School of Management and is a Chartered Financial Analyst. Mr. Toburen is a member of the CFA Institute and the CFA Society of Philadelphia.


Thomas R. Coughlin

Manager

Start Date

Tenure

Tenure Rank

Mar 01, 2019

0.58

0.6%

Mr. Coughlin is a Senior Analyst & Portfolio Manager and has been with Chartwell since 2007. Prior to joining Chartwell, Tom was employed at Janney Montgomery Scott, LLC where he held multiple analyst positions. His most recent position was an Investment Analyst where he carried out the due diligence on their recommended list and maintained both the recommended mutual fund and money manager lists. Mr. Coughlin earned a Bachelor of Arts degree in Economics and History from Swarthmore College. He holds the Chartered Financial Analyst and Chartered Market Technician designations. Mr. Coughlin is a member of the CFA Institute and the CFA Society of Philadelphia.


Jeffrey D. Bilsky

Manager

Start Date

Tenure

Tenure Rank

Mar 01, 2019

0.58

0.6%

Mr. Bilsky is a Senior Analyst & Portfolio Manager for the equity investment team and has been with Chartwell since 2013. Prior to joining Chartwell, Mr. Bilsky was employed at Cruiser Capital, a long-short hedge fund, where he served as a Portfolio Analyst. From 2008 to 2011, he was a Vice President in Institutional Sales and Trading at Hudson Securities. Prior to Hudson Securities, he spent two years at Banc of America Securities as an Analyst in Institutional Sales and Trading. Mr. Bilsky earned a Bachelor’s degree in Diplomatic History from the University of Pennsylvania and an MBA in Finance from the University of Pennsylvania’s Wharton School.


David C. Dalrymple

Manager

Start Date

Tenure

Tenure Rank

Mar 01, 2019

0.58

0.6%

Mr. Dalrymple has been with Chartwell since its inception in 1997. He has served as Chartwell’s Managing Partner and Senior Portfolio Manager since 1997. Mr. Dalrymple is the lead portfolio manager of the firm’s Small Cap Value strategy and Mid Cap Value strategy serving institutional, high net worth, and mutual fund sub-advisory clients. From 1991 to 1997, Mr. Dalrymple served as Portfolio Manager at Delaware Investment Advisers, managing a small cap value mutual fund, the Value Fund, and assisting in managing mutual funds and institutional assets in small and mid-cap styles. Prior to joining Delaware Investment Advisers, Mr. Dalrymple was an assistant portfolio manager at Lord Abbett & Co. managing mid-cap value and small-cap growth products. Mr. Dalrymple holds a Bachelor of Science degree in Business Management from Clarkson University and an MBA from Cornell University’s Johnson School and is a Chartered Financial Analyst.


Tenure Analysis

Category Low

0.0

Category High

35.77

Category Average

6.86

Category Mode

7.37