City National Rochdale Strategic Credit Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
16.9%
1 yr return
22.1%
3 Yr Avg Return
8.3%
5 Yr Avg Return
11.4%
Net Assets
$253 M
Holdings in Top 10
40.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.95%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Closed-end mutual fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
CNROX - Profile
Distributions
- YTD Total Return 16.9%
- 3 Yr Annualized Total Return 8.3%
- 5 Yr Annualized Total Return 11.4%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 9.56%
- Dividend Yield 23.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameCity National Rochdale Strategic Credit Fund
-
Fund Family NameCity National Rochdale
-
Inception DateDec 19, 2018
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerCharles Luke
Fund Description
CNROX - Performance
Return Ranking - Trailing
Period | CNROX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 16.9% | -10.6% | 16.9% | 0.15% |
1 Yr | 22.1% | -6.3% | 23.8% | 0.31% |
3 Yr | 8.3%* | -17.1% | 16.1% | 1.26% |
5 Yr | 11.4%* | -14.6% | 14.1% | 0.90% |
10 Yr | N/A* | -7.2% | 6.7% | N/A |
* Annualized
Return Ranking - Calendar
Period | CNROX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -4.8% | -12.0% | 8.9% | 96.92% |
2022 | -23.4% | -31.8% | 18.4% | 96.68% |
2021 | -4.6% | -16.2% | 25.7% | 89.87% |
2020 | 4.1% | -31.1% | 18.7% | 24.51% |
2019 | -2.0% | -6.1% | 15.3% | 97.70% |
Total Return Ranking - Trailing
Period | CNROX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 16.9% | -10.6% | 16.9% | 0.15% |
1 Yr | 22.1% | -6.3% | 23.8% | 0.31% |
3 Yr | 8.3%* | -17.1% | 16.1% | 1.26% |
5 Yr | 11.4%* | -14.6% | 14.1% | 0.90% |
10 Yr | N/A* | -7.2% | 6.7% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | CNROX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 18.0% | -6.9% | 22.2% | 0.46% |
2022 | -7.5% | -31.8% | 21.1% | 40.44% |
2021 | 14.3% | -13.5% | 49.9% | 1.80% |
2020 | 15.4% | -28.6% | 24.1% | 0.89% |
2019 | 3.4% | -4.8% | 19.1% | 94.24% |
NAV & Total Return History
CNROX - Holdings
Concentration Analysis
CNROX | Category Low | Category High | CNROX % Rank | |
---|---|---|---|---|
Net Assets | 253 M | 2.53 M | 143 B | 69.68% |
Number of Holdings | 119 | 4 | 9195 | 80.56% |
Net Assets in Top 10 | 103 M | -204 M | 80.4 B | 62.67% |
Weighting of Top 10 | 40.54% | 5.8% | 265.8% | 29.78% |
Top 10 Holdings
- SEI DAILY INCOME TRUST GOVERNMENT FUND (#36) 9.30%
- MAGNETITE CLO LTD SERIES: 24-40A CLASS: SUB 6.94%
- WEHLE PARK CLO LTD SERIES: 14-1RA CLASS: SUB 4.56%
- EATON VANCE CDO LTD SERIES: 24-21A CLASS: SUB 3.47%
- AIMCO CLO 17 LTD SUBORDINATED NOTES (144A) 3.30%
- TALLMAN PARK CLO, LTD. SERIES: 2021-1A CLASS: SUB 3.01%
- ELMWOOD CLO IX LTD SERIES: 21-2A CLASS: SUB 2.75%
- MORGAN STANLEY EATON VANCE CLO 2021-1 LTD SERIES: 21-1A CLASS: SUB 2.47%
- FLATIRON CLO 22 LTD SERIES: 21-2A CLASS: SUB 2.43%
- MORGAN STANLEY EATON VANCE CLO 2022-16 LTD MSEV 2022-16 WAREHOUSE 2.32%
Asset Allocation
Weighting | Return Low | Return High | CNROX % Rank | |
---|---|---|---|---|
Bonds | 90.67% | 0.00% | 199.60% | 48.21% |
Cash | 9.33% | -94.66% | 91.07% | 20.68% |
Stocks | 0.00% | -6.18% | 99.66% | 96.11% |
Preferred Stocks | 0.00% | 0.00% | 26.42% | 96.42% |
Other | 0.00% | -73.61% | 147.15% | 87.25% |
Convertible Bonds | 0.00% | 0.00% | 33.50% | N/A |
Bond Sector Breakdown
Weighting | Return Low | Return High | CNROX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 9.30% | 0.00% | 88.00% | 18.72% |
Derivative | 0.00% | -73.61% | 147.15% | 74.73% |
Securitized | 0.00% | 0.00% | 99.65% | N/A |
Corporate | 0.00% | 0.00% | 96.66% | N/A |
Municipal | 0.00% | 0.00% | 54.26% | N/A |
Government | 0.00% | 0.00% | 99.43% | N/A |
Bond Geographic Breakdown
Weighting | Return Low | Return High | CNROX % Rank | |
---|---|---|---|---|
US | 90.67% | 0.00% | 199.60% | 30.95% |
Non US | 0.00% | 0.00% | 74.14% | 96.11% |
CNROX - Expenses
Operational Fees
CNROX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.95% | 0.03% | 20.67% | 19.22% |
Management Fee | 1.50% | 0.00% | 2.29% | 95.37% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
CNROX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.50% | N/A |
Trading Fees
CNROX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 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.
CNROX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 632.00% | N/A |
CNROX - Distributions
Dividend Yield Analysis
CNROX | Category Low | Category High | CNROX % Rank | |
---|---|---|---|---|
Dividend Yield | 23.03% | 0.00% | 23.30% | 0.15% |
Dividend Distribution Analysis
CNROX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
CNROX | Category Low | Category High | CNROX % Rank | |
---|---|---|---|---|
Net Income Ratio | 9.56% | -1.55% | 11.51% | 1.58% |
Capital Gain Distribution Analysis
CNROX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 26, 2024 | $0.408 | OrdinaryDividend |
Jun 26, 2024 | $0.418 | OrdinaryDividend |
Mar 26, 2024 | $0.374 | OrdinaryDividend |
Dec 28, 2023 | $0.441 | OrdinaryDividend |
Sep 26, 2023 | $0.408 | OrdinaryDividend |
Jun 27, 2023 | $0.470 | OrdinaryDividend |
Mar 23, 2023 | $0.265 | OrdinaryDividend |
Dec 22, 2022 | $0.441 | OrdinaryDividend |
Sep 27, 2022 | $0.299 | OrdinaryDividend |
Jun 24, 2022 | $0.442 | OrdinaryDividend |
Mar 25, 2022 | $0.410 | OrdinaryDividend |
Dec 22, 2021 | $1.086 | OrdinaryDividend |
Sep 24, 2021 | $0.330 | OrdinaryDividend |
Jun 24, 2021 | $0.252 | OrdinaryDividend |
Mar 25, 2021 | $0.226 | OrdinaryDividend |
Dec 23, 2020 | $0.224 | OrdinaryDividend |
Dec 22, 2020 | $0.125 | OrdinaryDividend |
Sep 25, 2020 | $0.179 | OrdinaryDividend |
Jun 25, 2020 | $0.227 | OrdinaryDividend |
Mar 25, 2020 | $0.193 | OrdinaryDividend |
Dec 18, 2019 | $0.004 | OrdinaryDividend |
Sep 25, 2019 | $0.224 | OrdinaryDividend |
Jun 25, 2019 | $0.209 | OrdinaryDividend |
Mar 25, 2019 | $0.114 | OrdinaryDividend |
CNROX - Fund Manager Analysis
Managers
Charles Luke
Start Date
Tenure
Tenure Rank
Dec 19, 2018
3.45
3.5%
Charles Luke is a Senior Investment Director on the UK and European equities team having joined the company in 2000. Charles started his career at Framlington Investment Management in 1998, covering UK equities. Charles graduated with a BA in Economics and Japanese Studies from Leeds University and an MSc in Business and Economic History from the London School of Economics."
Thomas Ehrlein
Start Date
Tenure
Tenure Rank
Dec 19, 2018
3.45
3.5%
Thomas H. Ehrlein joined the former Rochdale Investment Management (predecessor to City National Rochdale) in 2005. He oversees a number of business segments at the firm including investment oversight for all non-traditional investments and the portfolio analytics and modeling processes,and is the Portfolio Manager of the City National Rochdale High Yield Alternative Strategies Fund. Mr. Ehrlein is also a key member of the asset allocation committee at City National Rochdale. He has been in the Investment Management industry since 2000. Prior to 2005, Mr. Ehrlein was a Senior Consultant in the Investment Management division of FactSet Research Systems, Inc., where he performed financial market and portfolio management research and quantitative analysis for institutional money management firms, and a middle market lending credit analyst at ABN-Amro, North America. Mr. Ehrlein earned his BS in Finance from the University of Scranton and his MBA in Finance from Hofstra University.
Matthew Andrews
Start Date
Tenure
Tenure Rank
Dec 19, 2018
3.45
3.5%
Matthew Andrews is a Managing Director and Head of Capital Markets, and a Senior Portfolio Manager on CIFC’s Structured Credit Investment business. Prior to joining CIFC, Mr. Andrews was Head of CLO Origination and Structuring for RBS Securities Inc.’s U.S. CLO business. Prior to running the CLO business, Mr. Andrews was a Director in the Asset Backed Finance Group where he was responsible for originating, financing, structuring and distributing new issue securitizations backed primarily by leveraged loans, credit cards and consumer loan receivables. Prior to joining RBS Securities Inc., via Greenwich Capital Markets, Inc., Mr. Andrews was an Associate at Banc One Capital Markets, Inc. where he focused on originating, structuring and distributing securitizations backed by credit cards, consumer loans, auto loans, student loans, rental cars and equipment loans. Mr. Andrews holds a Bachelor of Business Administration in Finance with a minor in Economics from Southern Methodist University. Mr. Andrews is a CFA charterholder.
Jay Huang
Start Date
Tenure
Tenure Rank
Dec 19, 2018
3.45
3.5%
Jay Huang is a Managing Director and Head of Structured Credit Investments at CIFC. Prior to joining CIFC, Mr. Huang spent 16 years at Citigroup where he was managing director and global head of their CLO, CDO and distressed Structured Investment Vehicle trading business. Prior to joining Citigroup, he worked at Salomon Smith Barney on the CDO structuring desk from 2000 to 2002. Mr. Huang graduated from Carnegie Mellon University with honors in 2000 with a Bachelor of Science in Applied Mathematics and Statistics and a minor in Computer Science.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 28.19 | 5.71 | 3.19 |