Salient Select Income Institutional
Name
As ofPrice
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
0.3%
1 yr return
8.5%
3 Yr Avg Return
-3.6%
5 Yr Avg Return
-3.6%
Net Assets
$460 M
Holdings in Top 10
30.6%
52 WEEK LOW AND HIGH
N/A
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.60%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 24.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
$100,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As ofPrice
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
FSIMX - Profile
Distributions
- YTD Total Return 0.3%
- 3 Yr Annualized Total Return -3.6%
- 5 Yr Annualized Total Return -3.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.14%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameSalient Select Income Fund
-
Fund Family NameSalient Funds
-
Inception DateApr 28, 2006
-
Shares Outstanding10868543
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
Fund Description
Under normal conditions, the Fund invests at least 80% of its net assets plus borrowings for investment purposes, if any, in income-producing securities. The Fund invests primarily in securities of companies in the real estate industry, such as real estate investment trusts (“REITs”), master limited partnerships and other real estate firms. Investments in these issuers are expected to include a significant portion of assets in preferred stock, as well as convertible preferred stock, debt obligations and other senior securities. The Fund may invest a significant portion of its assets in preferred stock. The Fund may also invest in common stock, rights and warrants to purchase securities, and limited partnership interests to the extent Salient Management deems appropriate. To select investments for the Fund, the Advisor uses a value-oriented philosophy focused on an issuer’s cash flow, asset quality and management capability.
The Fund may invest in securities of companies having any capitalization and of any credit quality, and may invest in debt securities of any maturity (including bonds commonly referred to as “junk bonds”). The Fund has the ability to leverage its portfolio by borrowing money in an amount up to one-third of its assets to purchase securities. The Fund may purchase restricted securities or securities which are deemed to be not readily marketable. The Fund may engage in transactions designed to hedge against changes in the price of the Fund’s portfolio securities, such as purchasing put options or selling securities short.
The Fund may write (sell) call options and purchase put options on individual stocks or broad-based stock indices, including exchange-traded funds (“ETFs”) that replicate such indices. The Fund may also enter into put option spreads, which consist of paired purchased and written options with different strike prices on the same stock or index. The Fund generally intends to use option strategies to seek to generate premium income, acquire a security at a specified price, or reduce the Fund’s exposure to market risk and volatility.
FSIMX - Performance
Return Ranking - Trailing
Period | FSIMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.3% | -29.9% | 34.0% | 3.01% |
1 Yr | 8.5% | -30.3% | 32.1% | 3.70% |
3 Yr | -3.6%* | -13.2% | 11.8% | 81.25% |
5 Yr | -3.6%* | -8.3% | 10.1% | 81.60% |
10 Yr | 0.4%* | -2.5% | 8.8% | 60.76% |
* Annualized
Return Ranking - Calendar
Period | FSIMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.3% | -8.6% | 24.4% | 65.84% |
2022 | -13.8% | -15.3% | -2.5% | 85.62% |
2021 | -7.1% | -7.8% | 15.4% | 96.48% |
2020 | 6.5% | -2.1% | 14.2% | 25.36% |
2019 | -12.1% | -17.9% | 2.5% | 80.33% |
Total Return Ranking - Trailing
Period | FSIMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.3% | -29.9% | 34.0% | 3.01% |
1 Yr | 8.5% | -30.3% | 32.1% | 3.70% |
3 Yr | -3.6%* | -10.3% | 17.2% | 81.94% |
5 Yr | -3.6%* | -4.3% | 13.7% | 87.20% |
10 Yr | 0.4%* | 0.1% | 11.9% | 68.35% |
* Annualized
Total Return Ranking - Calendar
Period | FSIMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.3% | -8.6% | 24.4% | 71.43% |
2022 | -13.8% | -15.2% | 4.5% | 93.15% |
2021 | -7.1% | -1.0% | 18.4% | 100.00% |
2020 | 6.5% | -2.1% | 20.1% | 32.61% |
2019 | -12.1% | -17.2% | 6.2% | 90.98% |
FSIMX - Holdings
Concentration Analysis
FSIMX | Category Low | Category High | FSIMX % Rank | |
---|---|---|---|---|
Net Assets | 460 M | 196 K | 9.94 B | 59.17% |
Number of Holdings | 67 | 38 | 373 | 88.76% |
Net Assets in Top 10 | 142 M | 106 K | 1.01 B | 55.03% |
Weighting of Top 10 | 30.61% | 11.7% | 72.4% | 21.30% |
Top 10 Holdings
- Lexington Realty Trust 6.50% Series C Cumulative Convertible Preferred Stoc 3.62%
- Farmland Partners Inc Participating Preferred 3.52%
- RLJ Lodging Trust USD 1.95 Cum Conv Pfd Registered Shs Series -A- 3.44%
- UMH Properties Inc 6.75 % Cum Conv Red Pfd Registered Shs Series -C- 3.35%
- RPT Realty 7.25% Cum Conv Perp Pfd Shs of Benef Interest Series D 3.11%
- Chatham Lodging Trust 2.87%
- Consolidated Tomoka Land Co 4.5% 2.80%
- Istar 2.75%
- National Storage Affiliates Trust 6% PRF PERPETUAL USD 25 - Ser A 2.60%
- Sabra Health Care REIT Inc 2.53%
Asset Allocation
Weighting | Return Low | Return High | FSIMX % Rank | |
---|---|---|---|---|
Preferred Stocks | 54.78% | 0.00% | 73.28% | 5.92% |
Stocks | 31.89% | -0.82% | 26.36% | 1.78% |
Cash | 6.12% | 0.00% | 15.79% | 21.89% |
Other | 4.40% | 0.00% | 13.70% | 10.65% |
Convertible Bonds | 2.80% | 0.00% | 108.22% | 91.72% |
Bonds | 0.00% | -14.80% | 70.12% | 66.27% |
Stock Sector Breakdown
Weighting | Return Low | Return High | FSIMX % Rank | |
---|---|---|---|---|
Real Estate | 29.17% | 0.00% | 100.00% | 9.93% |
Consumer Cyclical | 1.59% | 0.00% | 1.63% | 13.48% |
Utilities | 0.00% | 0.00% | 100.00% | 80.14% |
Technology | 0.00% | 0.00% | 32.10% | 49.65% |
Industrials | 0.00% | 0.00% | 43.93% | 76.60% |
Healthcare | 0.00% | 0.00% | 33.70% | 59.57% |
Financial Services | 0.00% | 0.00% | 100.00% | 56.03% |
Energy | 0.00% | 0.00% | 29.20% | 45.39% |
Communication Services | 0.00% | 0.00% | 14.18% | 45.39% |
Consumer Defense | 0.00% | 0.00% | 9.44% | 24.11% |
Basic Materials | 0.00% | 0.00% | 25.53% | 51.06% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | FSIMX % Rank | |
---|---|---|---|---|
US | 31.89% | -0.82% | 26.36% | 1.78% |
Non US | 0.00% | 0.00% | 2.78% | 53.85% |
FSIMX - Expenses
Operational Fees
FSIMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.60% | 0.41% | 94.07% | 43.29% |
Management Fee | 1.00% | 0.00% | 1.42% | 88.69% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.07% | 0.01% | 0.55% | 58.14% |
Sales Fees
FSIMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
FSIMX 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.
FSIMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 24.00% | 5.00% | 175.00% | 22.16% |
FSIMX - Distributions
Dividend Yield Analysis
FSIMX | Category Low | Category High | FSIMX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 6.47% | 2.37% |
Dividend Distribution Analysis
FSIMX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
FSIMX | Category Low | Category High | FSIMX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.14% | -0.26% | 8.41% | 47.88% |
Capital Gain Distribution Analysis
FSIMX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Jun 25, 2019 | $0.301 | |
Mar 26, 2019 | $0.269 | |
Dec 26, 2018 | $0.318 | |
Sep 25, 2018 | $0.325 | |
Jun 26, 2018 | $0.284 | |
Mar 26, 2018 | $0.294 | |
Dec 26, 2017 | $0.315 | |
Sep 26, 2017 | $0.311 | |
Jun 27, 2017 | $0.338 | |
Mar 28, 2017 | $0.266 | |
Dec 27, 2016 | $0.270 | |
Sep 27, 2016 | $0.273 | |
Jun 27, 2016 | $0.340 | |
Mar 28, 2016 | $0.310 | |
Dec 28, 2015 | $0.358 | |
Sep 25, 2015 | $0.352 | |
Jun 25, 2015 | $0.294 | |
Mar 26, 2015 | $0.240 | |
Dec 26, 2014 | $0.358 | |
Sep 25, 2014 | $0.321 | |
Jun 25, 2014 | $0.327 | |
Mar 26, 2014 | $0.372 | |
Dec 26, 2013 | $0.428 | |
Sep 25, 2013 | $0.394 | |
Jun 25, 2013 | $0.388 | |
Mar 25, 2013 | $0.380 | |
Dec 26, 2012 | $0.459 | |
Sep 25, 2012 | $0.444 | |
Jun 26, 2012 | $0.451 | |
Mar 27, 2012 | $0.462 | |
Dec 29, 2011 | $0.464 | |
Sep 29, 2011 | $0.504 | |
Jun 29, 2011 | $0.546 | |
Mar 30, 2011 | $0.479 | |
Dec 30, 2010 | $0.524 | |
Sep 29, 2010 | $0.493 | |
Jun 29, 2010 | $0.546 | |
Mar 30, 2010 | $0.511 | |
Dec 30, 2009 | $0.611 | |
Sep 29, 2009 | $0.552 | |
Jun 29, 2009 | $0.529 |