DLDZX: Destinations Low Duration Fixed Inc Z

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DLDZX Destinations Low Duration Fixed Inc Z


Profile

DLDZX - Profile

Vitals

  • YTD Return -4.8%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $314 M
  • Holdings in Top 10 26.6%

52 WEEK LOW AND HIGH

$9.49
$9.14
$10.09

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.82%

SALES FEES

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

BROKERAGE FEES

  • Turnover 138.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Short-Term Bond

Distributions

  • YTD Total Return -4.8%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.40%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Destinations Low Duration Fixed Income Fund
  • Fund Family Name
    Destinations Funds
  • Inception Date
    Jul 16, 2018
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Jeff Raupp

Fund Description

The fund will invest at least 80% of its total assets (plus the amount of any borrowings for investment purposes) in a diversified portfolio of fixed income securities. It will normally be constructed with an average duration of three years or less. The fund primarily invests in bonds, debt, fixed income and income-producing instruments issued by governmental or private-sector entities, including mortgage-backed securities, asset-backed securities, junk bonds, corporate debt, foreign securities, inflation-indexed bonds, bank loans and assignments, collateralized loan obligations and preferred securities.


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Categories

Performance

DLDZX - Performance

Return Ranking - Trailing

Period DLDZX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.8% -11.5% 2.9% 92.02%
1 Yr -5.6% -14.2% 3.1% 91.71%
3 Yr N/A* -5.2% 1.3% N/A
5 Yr N/A* -20.9% 1.8% N/A
10 Yr N/A* -9.6% 2.7% N/A

* Annualized

Return Ranking - Calendar

Period DLDZX Return Category Return Low Category Return High Rank in Category (%)
2019 0.2% -6.6% 4.9% 93.30%
2018 N/A -4.1% 1.0% N/A
2017 N/A -1.4% 2.8% N/A
2016 N/A -65.8% 7.1% N/A
2015 N/A -6.6% 3.0% N/A

Total Return Ranking - Trailing

Period DLDZX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.8% -11.5% 2.9% 92.02%
1 Yr -5.6% -14.1% 3.1% 91.71%
3 Yr N/A* -4.7% 1.9% N/A
5 Yr N/A* -19.5% 2.6% N/A
10 Yr N/A* -7.9% 3.7% N/A

* Annualized

Total Return Ranking - Calendar

Period DLDZX Return Category Return Low Category Return High Rank in Category (%)
2019 0.4% -6.6% 4.9% 93.30%
2018 N/A -4.1% 6.5% N/A
2017 N/A -1.4% 4.7% N/A
2016 N/A -65.2% 8.4% N/A
2015 N/A -5.3% 3.1% N/A

NAV & Total Return History


Holdings

DLDZX - Holdings

Concentration Analysis

DLDZX Category Low Category High DLDZX % Rank
Net Assets 314 M 272 K 59.5 B 61.46%
Number of Holdings 318 6 2196 65.05%
Net Assets in Top 10 86.2 M 74.7 K 6.66 B 61.29%
Weighting of Top 10 26.57% 5.6% 99.6% 34.46%

Top 10 Holdings

  1. T/L Pacific Gas And Electric Company Regd 3.93%
  2. iShares Core 1-5 Year USD Bond ETF 3.40%
  3. Sprint Corporation 7% 3.38%
  4. Nielsen Finance LLC/Nielsen Finance Co 4.5% 2.92%
  5. Infor (US), Inc. 6.5% 2.57%
  6. Hawaiian Holdings Inc. 4.95% 2.23%
  7. Linkem S.p.A 7 2.14%
  8. Kinetic Concepts, Inc. 12.5% 2.03%
  9. Cogent Communications Finance Inc 5.63% 2.01%
  10. T/L Windstream Regatta Hldgs Regd 1.95%

Asset Allocation

Weighting Return Low Return High DLDZX % Rank
Bonds
81.34% 22.39% 144.98% 77.96%
Cash
15.19% -54.63% 77.61% 22.58%
Convertible Bonds
3.41% 0.00% 5.54% 19.35%
Other
0.06% -2.16% 13.40% 13.44%
Stocks
0.00% 0.00% 7.85% 19.35%
Preferred Stocks
0.00% 0.00% 52.74% 20.97%

Bond Sector Breakdown

Weighting Return Low Return High DLDZX % Rank
Corporate
63.79% 0.00% 93.48% 12.37%
Cash & Equivalents
14.73% 0.00% 77.61% 24.19%
Securitized
14.32% 0.00% 84.62% 70.97%
Derivative
3.68% 0.00% 32.44% 18.82%
Government
3.48% 0.00% 61.46% 74.73%
Municipal
0.00% 0.00% 14.85% 67.74%

Bond Geographic Breakdown

Weighting Return Low Return High DLDZX % Rank
US
67.11% 0.00% 131.08% 70.97%
Non US
14.23% 0.00% 82.07% 72.04%

Expenses

DLDZX - Expenses

Operational Fees

DLDZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.82% 0.02% 43.40% 55.49%
Management Fee 0.70% 0.00% 1.19% 87.50%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.41% N/A

Sales Fees

DLDZX 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% 4.00% N/A

Trading Fees

DLDZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

DLDZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 138.00% 0.00% 496.37% 91.72%

Distributions

DLDZX - Distributions

Dividend Yield Analysis

DLDZX Category Low Category High DLDZX % Rank
Dividend Yield 0.00% 0.00% 0.57% 36.98%

Dividend Distribution Analysis

DLDZX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

DLDZX Category Low Category High DLDZX % Rank
Net Income Ratio 3.40% -2.82% 4.09% 6.59%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

DLDZX - Fund Manager Analysis

Managers

Jeff Raupp


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.12

3.1%

Jeff Raupp is the Chief Investment Officer at Brinker Capital. In this role, he maintains overall responsibility for asset allocation, strategy selection and portfolio construction, and leads the company’s investment team. Additionally, he oversees the portfolio management for Brinker Capital’s flagship 23-year mutual fund program, Destinations. Jeff is the Chair of Brinker Capital’s Investment Committee and serves as a member of the company’s Asset Allocation, Manager Research, and Executive Committees. Prior to his current role, Jeff served as the Director of Investments and Operations Manager for Brinker Capital, where he managed all operational aspects of the company’s relationship with Fidelity IWS and Fidelity Clearing & Custody Solutions. Jeff has over 22 years of industry management experience. Before joining Brinker Capital, Jeff was an Electronic Engineer and Project Manager for a small electronics firm. He also served as an Officer in the United States Army. Jeff received his Bachelor of Science in mechanical engineering from the University of Delaware and his Master of Business Administration in finance from Villanova University. Additionally, he’s certified in Lean Six Sigma through Villanova University and holds FINRA Series 7 and 66 licenses. Jeff is a member of the CFA Institute and the CFA® Society of Philadelphia.

Luz Padilla


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.12

3.1%

Ms. Padilla joined DoubleLine in 2009 as the Director of the Emerging Markets Group and is the lead Portfolio Manager. Prior to DoubleLine, she was a Managing Director at TCW. She began working at TCW in 1994, where she had served in a number of roles of increasing responsibility with the group, including Credit Analyst, Director of Research, Co-Portfolio Manager since December 2001, and lead Portfolio Manager since October 2006. She was involved in all aspects of building and managing TCW's Emerging Markets Fixed Income business including credit, securitization, trading and marketing. Ms. Padilla attended University of California at Berkeley as a fellow of the Robert A. Toigo Foundation and graduated with an MBA in 1994. Ms. Padilla received her BA in Economics in 1989 from Stanford University in Palo Alto, California.

David Sherman


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.12

3.1%

David K. Sherman is the portfolio manager for RiverPark Short Term and RiverPark Strategic Income. Mr. Sherman, is the managing member of Cohanzick. Since 1996, Mr. Sherman, on behalf of Cohanzick Management, LLC , has managed accounts for various clients utilizing investment programs substantially similar to those intended to be used by the Fund. From January 1987 to August 1996, Mr. Sherman held various executive and director positions at Leucadia National Corporation and/or its subsidiaries. From August 1992 to August 1996, Mr. Sherman served as a Vice President of Leucadia with primary responsibility for the oversight of Leucadia's insurance companies' investment portfolios. Mr. Sherman holds a B.S. in Business Administration from Washington University.

Amy Magnotta


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.12

3.1%

Amy L. Magnotta, CFA, is a Senior Investment Manager at Brinker Capital with portfolio management responsibilities for the Destinations program. Ms. Magnotta joined Brinker Capital in 2006 as a senior analyst and has been portfolio manager for the Destinations program since 2007. Prior to joining Brinker Capital, Ms. Magnotta was an associate at Franklin Park Associates from 2004 to 2006 and an associate at BlackRock from 2001 to 2004. Ms. Magnotta has a B.S. in Finance from Lehigh University.

Robert Cohen


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.12

3.1%

Mr. Cohen joined DoubleLine’s Global Developed Credit Group in 2012. He is the Director of the group and also a permanent member of the Fixed Income Asset Allocation committee. Prior to DoubleLine, he was a Senior Credit Analyst at West Gate Horizons Advisors (and its predecessor ING Capital Advisors) where he worked as an analyst covering bank loans and high yield bonds since 2001. Prior to joining ING, Mr. Cohen was an Assistant Vice President in the Asset Management Group of Union Bank. At Union Bank, Mr. Cohen managed a diversified portfolio of leveraged loans as well as a portfolio of CDO securities. Prior to Union Bank, he was an Associate Director of Corporate and Investment Banking at the Bank of Montreal in their Natural Resources Group. He holds a BA in Economics from the University of Arizona and an MBA from the University of Southern California. He is a CFA charterholder.

Philip Barach


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.12

3.1%

Mr. Barach is co-founder and President of DoubleLine Capital. Mr. Barach is a member of the DoubleLine Executive Committee. Prior to DoubleLine, Mr. Barach was Co-Founder and Group Managing Director of the TCW Mortgage Group where he spent over 23 years. He has over 32 years of fixed income investment experience. Before joining TCW, Mr. Barach was Senior Vice President of Chief Investments for Sun Life Insurance Company in Los Angeles, where he was responsible for the asset/liability management of the firm and oversight and management of the company's $5 billion investment portfolio. Previously, he served as Principal Fixed Income Officer for the California Public Employees' Retirement System (CalPERS), the largest pension plan in the country. In that capacity, he was responsible for managing the fixed income portion of the fund which was 100% internally managed. He attended the Hebrew University of Jerusalem, where he received a BA in International Relations and an MBA in Finance.

Leigh Lowman


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.12

3.1%

Leigh A. Lowman is an Investment Manager at Brinker Capital with portfolio management responsibilities for the Destinations program. Prior to joining Brinker Capital in 2015, Ms. Lowman was an outreach analyst for The Investment Fund for Foundations (TIFF) and a senior associate for Mondrian Investment Partners. Ms. Lowman was previously at Brinker Capital from 2004 to 2010 as an investment associate and operations analyst. Ms. Lowman has a B.A. in Economics from Wittenburg University.

Michael De Kler


Start Date

Tenure

Tenure Rank

Dec 31, 2018

1.33

1.3%

Michael De Kler is an Assistant Portfolio Manager of CrossingBridge Advisors, LLC., a wholly owned subsidiary of Cohanzick Management, LLC. Michael De Kler began his career with Cohanzick as a junior analyst in 1999, rising to his current role of Assistant Portfolio Manager and Senior Analyst. Throughout his time with Cohanzick, Mr. De Kler’s focus has been on high yield and investment grade debt securities. Mr. De Kler graduated from Fairleigh Dickinson University, Magna Cum Laude, with a Bachelor of Science in Finance in 1999 and a Masters of Business Administration in 2001.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 26.68 5.78 3.24