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Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

iMGP Dolan McEniry Corporate Bond Fund

IDMAX | Fund

$9.34

$81.6 M

0.00%

1.05%

Vitals

YTD Return

-12.0%

1 yr return

-12.5%

3 Yr Avg Return

-4.1%

5 Yr Avg Return

N/A

Net Assets

$81.6 M

Holdings in Top 10

25.7%

52 WEEK LOW AND HIGH

$9.3
$9.31
$10.62

Expenses

OPERATING FEES

Expense Ratio 1.05%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 32.65%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$500

Fund Classification

Fund Type

Open End Mutual Fund

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

iMGP Dolan McEniry Corporate Bond Fund

IDMAX | Fund

$9.34

$81.6 M

0.00%

1.05%

IDMAX - Profile

Distributions

  • YTD Total Return -12.0%
  • 3 Yr Annualized Total Return -4.1%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.92%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    iMGP Dolan McEniry Corporate Bond Fund
  • Fund Family Name
    iM Global Partner (US)
  • Inception Date
    May 17, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Daniel Dolan

Fund Description

The Dolan McEniry Corporate Bond Fund invests in a diversified portfolio of corporate investment grade bonds, corporate high yield bonds, and U.S. Government and Treasury securities maturing within 10 years or less. All securities will be U.S. dollar denominated, although they may be issued by a foreign corporation or a U.S. affiliate of a foreign corporation. Under normal market conditions, the Dolan McEniry Corporate Bond Fund will invest at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in corporate bonds. In addition to investments in corporate bonds issued by U.S. issuers, the Dolan McEniry Corporate Bond Fund may invest in corporate bonds issued by foreign corporations. With respect to the Dolan McEniry Corporate Bond Fund’s net assets allocated to investments in corporate bonds, the Dolan McEniry Corporate Bond Fund invests approximately 75% in corporate bonds that are determined by the Dolan McEniry Corporate Bond Fund’s sub‑advisor (the “manager” or “sub‑advisor”), to be investment grade, and approximately 25% in high yield bonds (also known as “junk bonds”). The Dolan McEniry Corporate Bond Fund’s investments in investment grade corporate bonds will be rated investment grade (BBB‑ by Standard & Poor’s or equivalent) by at least one major credit rating agency identified as a nationally recognized statistical rating organization (“NRSRO”), or if unrated, determined to be of comparable quality by the sub‑advisor. The Dolan McEniry Corporate Bond Fund may invest up to 20% of its net assets in U.S. Government and Treasury securities. The Dolan McEniry Corporate Bond Fund will not make any change in its
investment policy of investing at least 80% of its net assets in corporate bonds without first providing shareholders with at least 60 days’ prior written notice.
The sub‑advisor anticipates that the Dolan McEniry Corporate Bond Fund’s duration will reflect that of the Bloomberg U.S. Intermediate Credit Index, plus or minus 50%. For example, if the duration of the Bloomberg U.S. Intermediate Credit Index is 5 years, the Dolan McEniry Corporate Bond Fund’s duration may be 2.5–7.5 years. As of March 31, 2022, the duration of the Bloomberg U.S. Intermediate Credit Index was 4.32 years. Duration measures a bond or fund’s sensitivity to interest rate or other changes (such as changes in a bond’s yield) and is expressed as a number of years. The higher the number, the greater the risk. Under normal circumstances, for example, if a portfolio has a duration of five years, its value will change by 5% if yields change by 1%. Shorter duration bonds generally result in lower expected volatility.
The Dolan McEniry Corporate Bond Fund’s investment universe consists of corporate investment grade bonds, high yield bonds, and U.S. Government and Treasury securities maturing within 10 years or less. When making decisions to buy or sell an investment for the Dolan McEniry Corporate Bond Fund, the sub‑advisor utilizes bottom-up investment analysis which focuses on credit analysis and selection of undervalued bonds. The sub-advisor analyzes companies’ financial statements and creates financial models to assess trends in revenue, margins, earnings, cash earnings, investments in working capital and fixed assets, debt levels and cash balances, and other items, ranking each company by risk and return. The Sub-Advisor then applies qualitative diligence reviews of each company, taking into consideration pricing, liquidity, event risk and duration to select specific investments for the Dolan McEniry Corporate Bond Fund’s portfolio. The sub‑advisor’s investment process is designed to identify undervalued corporate bonds—those that trade at wide spreads to U.S. Treasury securities yet are issued by companies that, in the sub-advisor’s assessment, generate sufficient cash flow to meet their debt obligations. The sub‑advisor ranks securities with equal weighting given to risk (cash flow coverage of debt obligations) and return (spread to U.S. Treasuries). The process identifies what the sub‑advisor deems to be the most undervalued bonds. The sub‑advisor will consider selling a security if the company’s fundamentals deteriorate to an unacceptable degree according to the sub‑advisor’s free cash flow credit analysis; the security has appreciated in price to a level that makes it no longer attractive in the sub‑advisor’s ranking system; or if the sub‑advisor identifies a more attractive investment opportunity. Concentration of investments in certain sectors – including, but not limited to, the communications services, consumer staples, industrial and technology sectors – may occur from time to time as a result of the implementation of the Dolan McEniry Corporate Bond Fund’s investment strategy by the manager.
Read More

IDMAX - Performance

Return Ranking - Trailing

Period IDMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -12.0% -39.5% 150.1% 30.36%
1 Yr -12.5% -22.6% 149.5% 43.52%
3 Yr -4.1%* -11.4% 36.1% 43.87%
5 Yr N/A* -10.0% 21.3% N/A
10 Yr N/A* -2.5% 9.5% N/A

* Annualized

Return Ranking - Calendar

Period IDMAX Return Category Return Low Category Return High Rank in Category (%)
2022 -2.7% -27.3% 7.5% 35.35%
2021 1.5% -15.7% 31.5% 88.69%
2020 N/A -13.0% 34.5% N/A
2019 N/A -52.0% 4.7% N/A
2018 N/A -0.7% 13.4% N/A

Total Return Ranking - Trailing

Period IDMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -12.0% -39.5% 150.1% 26.79%
1 Yr -12.5% -22.6% 149.5% 43.87%
3 Yr -4.1%* -11.4% 36.1% 47.39%
5 Yr N/A* -10.0% 21.3% N/A
10 Yr N/A* -2.5% 9.8% N/A

* Annualized

Total Return Ranking - Calendar

Period IDMAX Return Category Return Low Category Return High Rank in Category (%)
2022 -2.7% -27.3% 7.5% 35.35%
2021 1.5% -15.7% 31.5% 88.69%
2020 N/A -13.0% 34.5% N/A
2019 N/A -14.8% 4.7% N/A
2018 N/A -0.7% 13.4% N/A

NAV & Total Return History

IDMAX - Holdings

Concentration Analysis

IDMAX Category Low Category High IDMAX % Rank
Net Assets 81.6 M 6.52 M 44.4 B 75.00%
Number of Holdings 95 2 9191 64.04%
Net Assets in Top 10 23.6 M -29.6 M 3.34 B 39.47%
Weighting of Top 10 25.69% 1.8% 100.0% 47.51%

Top 10 Holdings

  1. First American Government Obligs X 5.22%
  2. Reynolds American Inc. 4.45% 2.73%
  3. KLA Corporation 4.65% 2.72%
  4. Qorvo Inc 5.5% 2.67%
  5. Tegna Inc 4.625% 2.67%
  6. Kraft Heinz Foods Company 3.95% 2.62%
  7. SBA Communications Corporation 4.88% 2.52%
  8. Verizon Communications Inc. 4.13% 2.52%
  9. Becton, Dickinson and Company 2.89% 2.49%
  10. Broadcom Corporation/Broadcom Cayman Finance Ltd 3.88% 2.48%

Asset Allocation

Weighting Return Low Return High IDMAX % Rank
Bonds 		94.02% 15.65% 141.47% 63.74%
Cash 		5.22% -49.09% 54.19% 16.96%
Other 		0.77% -38.92% 3.98% 1.46%
Stocks 		0.00% 0.00% 5.27% 28.07%
Preferred Stocks 		0.00% 0.00% 9.18% 38.01%
Convertible Bonds 		0.00% 0.00% 78.47% 79.82%

Bond Sector Breakdown

Weighting Return Low Return High IDMAX % Rank
Corporate 		94.74% 41.80% 100.00% 46.49%
Cash & Equivalents 		5.26% 0.00% 54.19% 21.35%
Derivative 		0.00% 0.00% 27.02% 33.33%
Securitized 		0.00% 0.00% 23.18% 69.01%
Municipal 		0.00% 0.00% 3.62% 58.19%
Government 		0.00% 0.00% 25.63% 74.27%

Bond Geographic Breakdown

Weighting Return Low Return High IDMAX % Rank
US 		90.23% 0.00% 122.90% 15.20%
Non US 		3.79% 0.00% 47.05% 91.23%

IDMAX - Expenses

Operational Fees

IDMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.05% 0.03% 3.62% 11.78%
Management Fee 0.50% 0.00% 1.35% 84.28%
12b-1 Fee 0.25% 0.00% 1.00% 23.71%
Administrative Fee N/A 0.02% 0.45% N/A

Sales Fees

IDMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 4.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

IDMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 50.00%

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.

IDMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 32.65% 0.00% 259.00% 25.00%

IDMAX - Distributions

Dividend Yield Analysis

IDMAX Category Low Category High IDMAX % Rank
Dividend Yield 0.00% 0.00% 25.68% 90.94%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

IDMAX Category Low Category High IDMAX % Rank
Net Income Ratio 0.92% -0.69% 7.58% 96.38%

Capital Gain Distribution Analysis

IDMAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

View More +

IDMAX - Fund Manager Analysis

Managers

Daniel Dolan

Start Date

Tenure

Tenure Rank

Sep 28, 2018

3.67

3.7%

Dan founded Dolan McEniry in 1997 following a 16-year career in the financial services industry. Dan previously worked with Morgan Stanley and Salomon Brothers. Dan serves as a member of the Board of Trustees of Lake Forest College, the Board of Directors for the Rehabilitation Institute of Chicago (RIC), and the Board of Directors of MetroSquash. At RIC, Dan chairs the Investment Committee, is Co-Chair of the Foundation Board, and serves on the Capital Campaign Committee. At Lake Forest College, Dan serves as Vice Chairman of the Board of Trustees and Chairman of the Investment Committee. Dan is on the Executive Committee at MetroSquash. He received a B.A. from Lake Forest College in 1980. At Dolan McEniry, Dan focuses on portfolio management, security selection, and securities trading. Also, Dan is responsible for client relations, new business development, and the overall administrative management of the firm.

Stephen Schubert

Start Date

Tenure

Tenure Rank

Sep 28, 2018

3.67

3.7%

A member of the Dolan McEniry team since 1998, Stephen currently serves as the Managing Director of Portfolio Management and Trading. Stephen worked previously with Suntrust Bank and Merrill Lynch, and remains actively involved with the University Club of Chicago. He received his degree from Michigan State University.

C. Schaffer Degen

Start Date

Tenure

Tenure Rank

Sep 28, 2018

3.67

3.7%

Schaffer joined Dolan Mceniry Capital Management LLC as an Analyst in April 2012 and currently serves as a Portfolio Manager. Schaffer graduated from Miami University in 2010 with a B.S. in Business and a major in Finance.

M. Patrick Voelker

Start Date

Tenure

Tenure Rank

Sep 28, 2018

3.67

3.7%

Patrick joined Dolan Mceniry Capital Management LLC as an Analyst in November 2012 and currently serves as a Portfolio Manager. Patrick graduated with honors from St. Norbert College in 2012 with a B.A. in Economics.

Robert Greber

Start Date

Tenure

Tenure Rank

Sep 28, 2018

3.67

3.7%

Robert joined Dolan Mceniry Capital Management LLC as an Analyst in February 2015 and currently serves as an Assistant Portfolio Manager. Robert graduated from the University of Missouri in May 2014 with a B.S. in Business Administration and a major in Finance.

Roger McEniry

Start Date

Tenure

Tenure Rank

Sep 28, 2018

3.67

3.7%

Roger joined Dolan McEniry as a partner in March, 2001. Prior to joining the firm, Roger spent sixteen years with a Chicago private equity firm. Roger was a senior member of the firm as it grew from less than $75 million under management to over $1 billion. Roger graduated from Williams College with honors in 1978 and received an MBA from the University of Michigan in 1981. Roger’s focus is the analytical and strategic side of our firm. Security selection, risk management, and credit analysis are under Roger’s leadership. Roger is a trustee of Deerfield Academy and is a past president of the Daniel Murphy Scholarship Fund.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 24.76 6.22 2.41

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