Cedar Ridge Unconstrained Credit Instl
Name
As of 09/27/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$76.5 M
Holdings in Top 10
61.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 5.18%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 63.00%
Redemption Fee 1.00%
Min Investment
Standard (Taxable)
$1,000,000
IRA
$1,000,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 09/27/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
CRUMX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.61%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameCedar Ridge Unconstrained Credit Fund
-
Fund Family NameCedar Ridge
-
Inception DateDec 12, 2013
-
Shares OutstandingN/A
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerJeffrey A. Rosenkranz
Fund Description
CRUMX - Performance
Return Ranking - Trailing
Period | CRUMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | N/A | N/A | 100.00% |
1 Yr | N/A | N/A | N/A | 100.00% |
3 Yr | N/A* | N/A | N/A | 100.00% |
5 Yr | N/A* | N/A | N/A | 100.00% |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Return Ranking - Calendar
Period | CRUMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2022 | N/A | N/A | N/A | 100.00% |
2021 | N/A | N/A | N/A | 100.00% |
2020 | N/A | N/A | N/A | 100.00% |
2019 | N/A | N/A | N/A | 100.00% |
2018 | N/A | N/A | N/A | 100.00% |
Total Return Ranking - Trailing
Period | CRUMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | N/A | N/A | 100.00% |
1 Yr | N/A | N/A | N/A | 100.00% |
3 Yr | N/A* | N/A | N/A | 100.00% |
5 Yr | N/A* | N/A | N/A | 100.00% |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Total Return Ranking - Calendar
Period | CRUMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2022 | N/A | N/A | N/A | 100.00% |
2021 | N/A | N/A | N/A | 100.00% |
2020 | N/A | N/A | N/A | 100.00% |
2019 | N/A | N/A | N/A | 100.00% |
2018 | N/A | N/A | N/A | 100.00% |
NAV & Total Return History
CRUMX - Holdings
Concentration Analysis
CRUMX | Category Low | Category High | CRUMX % Rank | |
---|---|---|---|---|
Net Assets | 76.5 M | 76.5 M | 76.5 M | 100.00% |
Number of Holdings | 95 | 95 | 95 | 100.00% |
Net Assets in Top 10 | 10.6 M | 10.6 M | 10.6 M | 100.00% |
Weighting of Top 10 | 61.23% | 61.2% | 61.2% | 100.00% |
Top 10 Holdings
- United States Treasury Notes 1.75% 9.52%
- United States Treasury Notes 2.25% 8.15%
- United States Treasury Bonds 3% 5.57%
- NEW YORK N Y CITY HSG DEV CORP MULTIFAMILY RENT HSG REV 1.39% 5.57%
- NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 1.65% 5.57%
- NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 1.67% 5.57%
- NEW YORK N Y 1.48% 5.57%
- ORLANDO FLA UTILS COMMN UTIL SYS REV 1.42% 5.57%
- UTAH CNTY UTAH HOSP REV 1.5% 5.57%
- CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV 8% 4.60%
Asset Allocation
Weighting | Return Low | Return High | CRUMX % Rank | |
---|---|---|---|---|
Bonds | 84.42% | 84.42% | 84.42% | 100.00% |
Cash | 8.55% | 8.55% | 8.55% | 100.00% |
Other | 3.95% | 3.95% | 3.95% | 100.00% |
Convertible Bonds | 3.00% | 3.00% | 3.00% | 100.00% |
Stocks | 0.07% | 0.07% | 0.07% | 100.00% |
Preferred Stocks | 0.00% | 0.00% | 0.00% | 100.00% |
Stock Sector Breakdown
Weighting | Return Low | Return High | CRUMX % Rank | |
---|---|---|---|---|
Industrials | 0.07% | 0.07% | 0.07% | 100.00% |
Utilities | 0.00% | 0.00% | 0.00% | 100.00% |
Technology | 0.00% | 0.00% | 0.00% | 100.00% |
Real Estate | 0.00% | 0.00% | 0.00% | 100.00% |
Healthcare | 0.00% | 0.00% | 0.00% | 100.00% |
Financial Services | 0.00% | 0.00% | 0.00% | 100.00% |
Energy | 0.00% | 0.00% | 0.00% | 100.00% |
Communication Services | 0.00% | 0.00% | 0.00% | 100.00% |
Consumer Defense | 0.00% | 0.00% | 0.00% | 100.00% |
Consumer Cyclical | 0.00% | 0.00% | 0.00% | 100.00% |
Basic Materials | 0.00% | 0.00% | 0.00% | 100.00% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | CRUMX % Rank | |
---|---|---|---|---|
US | 0.07% | 0.07% | 0.07% | 100.00% |
Non US | 0.00% | 0.00% | 0.00% | 100.00% |
Bond Sector Breakdown
Weighting | Return Low | Return High | CRUMX % Rank | |
---|---|---|---|---|
Municipal | 102.07% | 102.07% | 102.07% | 100.00% |
Corporate | 9.97% | 9.97% | 9.97% | 100.00% |
Cash & Equivalents | 8.55% | 8.55% | 8.55% | 100.00% |
Derivative | 0.00% | 0.00% | 0.00% | 100.00% |
Securitized | 0.00% | 0.00% | 0.00% | 100.00% |
Government | -24.61% | -24.61% | -24.61% | 100.00% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | CRUMX % Rank | |
---|---|---|---|---|
US | 77.72% | 77.72% | 77.72% | 100.00% |
Non US | 6.70% | 6.70% | 6.70% | 100.00% |
CRUMX - Expenses
Operational Fees
CRUMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 5.18% | 5.18% | 5.18% | 100.00% |
Management Fee | 1.00% | 1.00% | 1.00% | 100.00% |
12b-1 Fee | N/A | N/A | N/A | N/A |
Administrative Fee | 0.10% | 0.10% | 0.10% | 100.00% |
Sales Fees
CRUMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | N/A | N/A | N/A |
Trading Fees
CRUMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 1.00% | 1.00% | 1.00% | 100.00% |
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.
CRUMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 63.00% | 63.00% | 63.00% | 100.00% |
CRUMX - Distributions
Dividend Yield Analysis
CRUMX | Category Low | Category High | CRUMX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 0.00% | 100.00% |
Dividend Distribution Analysis
CRUMX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Quarterly | Quarterly | Quarterly |
Net Income Ratio Analysis
CRUMX | Category Low | Category High | CRUMX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.61% | 1.61% | 1.61% | 100.00% |
Capital Gain Distribution Analysis
CRUMX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2019 | $0.079 | OrdinaryDividend |
Dec 27, 2018 | $0.181 | OrdinaryDividend |
Jun 28, 2018 | $0.021 | OrdinaryDividend |
Mar 28, 2018 | $0.050 | OrdinaryDividend |
Dec 27, 2017 | $0.159 | OrdinaryDividend |
Sep 28, 2017 | $0.069 | OrdinaryDividend |
Jun 29, 2017 | $0.062 | OrdinaryDividend |
Mar 30, 2017 | $0.092 | OrdinaryDividend |
Sep 29, 2016 | $0.054 | OrdinaryDividend |
Jun 29, 2016 | $0.062 | OrdinaryDividend |
Mar 30, 2016 | $0.077 | OrdinaryDividend |
Dec 17, 2015 | $0.067 | OrdinaryDividend |
Sep 29, 2015 | $0.060 | OrdinaryDividend |
Jun 29, 2015 | $0.079 | OrdinaryDividend |
Mar 30, 2015 | $0.057 | OrdinaryDividend |
Dec 17, 2014 | $0.060 | OrdinaryDividend |
Dec 09, 2014 | $0.020 | OrdinaryDividend |
Sep 29, 2014 | $0.052 | OrdinaryDividend |
Jun 27, 2014 | $0.074 | OrdinaryDividend |
Mar 28, 2014 | $0.026 | OrdinaryDividend |
CRUMX - Fund Manager Analysis
Managers
Jeffrey A. Rosenkranz
Start Date
Tenure
Tenure Rank
Dec 12, 2013
5.47
5.5%
Mr. Rosenkranz is a Partner and Co-Chief Investment Officer of Cedar Ridge Partners, LLC. He serves as a Portfolio Manager for Cedar Ridge Investors Fund I, LP, and Cedar Ridge Unconstrained Credit Fund, and is a member of the Firm's Investment Committee. Mr. Rosenkranz joined Cedar Ridge Partners in 2013, and has over 20 years of experience investing in the credit markets, with an emphasis in high yield, distressed debt, and special situations. Prior to joining Cedar Ridge Partners, Mr. Rosenkranz was a Partner and the Director of Research for Cooperstown Capital Management, and a Founding Principal and Co-Head of Research for Durham Asset Management. He began his career at Ernst & Young LLP and The Delaware Bay Company, and holds an M.B.A. (Finance and Accounting) from the Stern School of Business at New York University, and received a B.A. (Economics and Spanish) from Duke University.
Guy J. Benstead
Start Date
Tenure
Tenure Rank
Dec 12, 2013
5.47
5.5%
Mr. Benstead is a Partner of Cedar Ridge Partners, LLC. He serves as a Portfolio Manager for Cedar Ridge Investors Fund I, LP and Cedar Ridge Unconstrained Credit Fund and is a member of the Firm’s Investment Committee. Mr. Benstead also oversees the Firm’s business development activities. Mr. Benstead joined Cedar Ridge Partners in 2005, and his fixed income experience spans over 33 years in the credit and interest rate risk markets at firms including Bear, Stearns & Co. Inc. and Drexel Burnham Lambert. He holds an M.B.A. (Finance) from the Columbia University Graduate School of Business and received a B.A. (International Relations) from the University of California, Davis.
David S. Falk
Start Date
Tenure
Tenure Rank
Dec 12, 2013
5.47
5.5%
Mr. Falk is a Partner of Cedar Ridge Partners, LLC. He serves as a Portfolio Manager for Cedar Ridge Investors Fund I, LP, Cedar Ridge Unconstrained Credit Fund, and the Firm’s separately managed accounts, and is a member of the Firm’s Investment Committee. He also manages the Firm’s municipal bond ESG/SRI strategy. Mr. Falk joined Cedar Ridge Partners in 2009, and has over 33 years of broad-based fixed income experience as a trader, research analyst and investment banker for firms including Bear, Stearns & Co. Inc. and Lazard Freres & Co. Mr. Falk also manages the Firm’s trading operations. He holds a Master of Regional Planning degree from the University of North Carolina at Chapel Hill and received a B.A. (Economics and Urban Studies) from Northwestern University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
5.47 | 5.47 | 5.47 | 5.47 |