IOFCX: AlphaCentric Income Opportunities C

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IOFCX AlphaCentric Income Opportunities C


Profile

IOFCX - Profile

Vitals

  • YTD Return 2.0%
  • 3 Yr Annualized Return 5.2%
  • 5 Yr Annualized Return N/A
  • Net Assets $4.24 B
  • Holdings in Top 10 9.6%

52 WEEK LOW AND HIGH

$13.17
$12.11
$13.17

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.68%

SALES FEES

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

BROKERAGE FEES

  • Turnover 33.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA $2,500

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Multisector Bond

Distributions

  • YTD Total Return 2.0%
  • 3 Yr Annualized Total Return 8.3%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.80%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AlphaCentric Income Opportunities Fund
  • Fund Family Name
    AlphaCentric Funds
  • Inception Date
    May 28, 2015
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Tom Miner

Fund Description

The fund seeks to achieve its investment objective by primarily investing in asset-backed fixed income securities, such as securities backed by credit card receivables, automobiles, aircraft, student loans, equipment leases, and agency and non-agency residential and commercial mortgages. Asset-backed securities in which the fund may invest also include collateralized debt obligations ("CDOs"), collateralized loan obligations ("CLOs") and privately-offered collateralized loans. It may invest in distressed asset backed securities and other below investment grade securities without limitation. The fund is non-diversified.


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Categories

Performance

IOFCX - Performance

Return Ranking - Trailing

Period IOFCX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -2.4% 7.4% 3.96%
1 Yr 8.0% -36.6% 178.8% 3.42%
3 Yr 5.2%* -34.5% 40.7% 3.03%
5 Yr N/A* -34.3% 20.1% N/A
10 Yr N/A* -3.6% 4.4% N/A

* Annualized

Return Ranking - Calendar

Period IOFCX Return Category Return Low Category Return High Rank in Category (%)
2019 6.5% -35.1% 177.6% 35.84%
2018 -0.7% -48.0% 0.8% 4.05%
2017 8.3% -14.8% 11.2% 3.05%
2016 4.2% -11.2% 19.1% 33.57%
2015 N/A -51.1% 4.0% N/A

Total Return Ranking - Trailing

Period IOFCX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -2.4% 7.4% 3.96%
1 Yr 8.4% -36.6% 178.8% 3.42%
3 Yr 8.3%* -34.5% 40.7% 2.36%
5 Yr N/A* -34.3% 22.2% N/A
10 Yr N/A* -3.6% 6.1% N/A

* Annualized

Total Return Ranking - Calendar

Period IOFCX Return Category Return Low Category Return High Rank in Category (%)
2019 7.2% -35.1% 177.6% 30.92%
2018 3.5% -48.0% 4.8% 1.56%
2017 12.9% -14.8% 14.0% 1.02%
2016 8.7% -11.2% 22.5% 10.36%
2015 N/A -51.1% 4.0% N/A

NAV & Total Return History


Holdings

IOFCX - Holdings

Concentration Analysis

IOFCX Category Low Category High IOFCX % Rank
Net Assets 4.24 B 100 K 136 B 17.91%
Number of Holdings 549 6 7570 43.80%
Net Assets in Top 10 337 M -42.1 B 6.16 B 22.87%
Weighting of Top 10 9.60% 5.4% 410.5% 87.88%

Top 10 Holdings

  1. Soundview Home Loan Trust 2.32% 1.13%
  2. Towd Pt Mtg Tr 2017-2 4.18% 1.10%
  3. HSI Asset Securitization Corporation Trust 2.46% 1.05%
  4. Towd Point Mortgage Trust 2016 4.03% 1.05%
  5. Option One Mortgage Loan Trust 2.53% 1.02%
  6. Strctrd Asset Invt 2.75% 0.93%
  7. Soundview Home Loan Trust 2.27% 0.89%
  8. Saxon Asset Securities Trust 2.95% 0.83%
  9. CIT Mtg Ln Tr 3.77% 0.82%
  10. New Century Home Equity Loan Trust 2005-1 2.64% 0.78%

Asset Allocation

Weighting Return Low Return High IOFCX % Rank
Bonds
94.49% 31.46% 195.17% 32.05%
Cash
4.80% -102.73% 49.23% 53.17%
Stocks
0.71% -9.73% 22.96% 30.41%
Preferred Stocks
0.00% 0.00% 54.19% 99.72%
Other
0.00% -32.79% 31.21% 93.94%
Convertible Bonds
0.00% 0.00% 11.31% 99.72%

Stock Sector Breakdown

Weighting Return Low Return High IOFCX % Rank
Real Estate
100.00% 0.00% 100.00% 1.15%
Utilities
0.00% 0.00% 100.00% 100.00%
Technology
0.00% 0.00% 48.41% 100.00%
Industrials
0.00% 0.00% 100.00% 100.00%
Healthcare
0.00% 0.00% 67.53% 100.00%
Financial Services
0.00% 0.00% 100.00% 100.00%
Energy
0.00% 0.00% 100.00% 100.00%
Communication Services
0.00% 0.00% 100.00% 100.00%
Consumer Defense
0.00% 0.00% 26.81% 100.00%
Consumer Cyclical
0.00% 0.00% 100.00% 100.00%
Basic Materials
0.00% 0.00% 100.00% 100.00%

Stock Geographic Breakdown

Weighting Return Low Return High IOFCX % Rank
US
0.71% -5.14% 22.23% 28.37%
Non US
0.00% -9.82% 4.62% 97.25%

Bond Sector Breakdown

Weighting Return Low Return High IOFCX % Rank
Securitized
95.17% 0.00% 98.77% 1.10%
Cash & Equivalents
4.83% 0.62% 48.65% 64.46%
Derivative
0.00% -1.18% 43.87% 98.07%
Corporate
0.00% 0.00% 93.68% 100.00%
Municipal
0.00% 0.00% 36.31% 99.72%
Government
0.00% 0.00% 99.36% 100.00%

Bond Geographic Breakdown

Weighting Return Low Return High IOFCX % Rank
US
93.44% 14.50% 194.76% 11.29%
Non US
1.05% -6.50% 74.05% 91.74%

Expenses

IOFCX - Expenses

Operational Fees

IOFCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.68% 0.06% 4.60% 6.73%
Management Fee 1.50% 0.00% 2.25% 96.84%
12b-1 Fee 1.00% 0.00% 1.00% 100.00%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

IOFCX 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% 5.50% N/A

Trading Fees

IOFCX 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.

IOFCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 33.00% 2.00% 899.00% 22.61%

Distributions

IOFCX - Distributions

Dividend Yield Analysis

IOFCX Category Low Category High IOFCX % Rank
Dividend Yield 0.64% 0.00% 5.97% 48.29%

Dividend Distribution Analysis

IOFCX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

IOFCX Category Low Category High IOFCX % Rank
Net Income Ratio 3.80% 0.87% 10.10% 55.04%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

IOFCX - Fund Manager Analysis

Managers

Tom Miner


Start Date

Tenure

Tenure Rank

May 28, 2015

4.68

4.7%

Tom Miner has been a Principal and Portfolio Manager of Garrison Point since 2012. He has also been a Principal and Portfolio Manager of Garrison Point Funds, LLC since 2012, a Registered Representative of S.F. Sentry Securities, Inc. since 2012 and a Registered Investment Advisor representative of San Francisco Sentry Investment Group since 2012. From 2009 to co-founding Garrison Point in 2012, Mr. Miner was a Director of Barclays Capital, Inc. From 2007 to 2009, Mr. Miner was the Chief Executive Officer of Xootr, LLC, a manufacturer of folding bikes and scooters, and, from 1994 to 2007, he served in various roles for Lehman Brothers, Inc. focusing on structuring of fixed income products and building Lehman Brothers’ West Coast securitized products business. Mr. Miner holds a BA, BS and MBA from the University of Utah.

Brian Loo


Start Date

Tenure

Tenure Rank

May 28, 2015

4.68

4.7%

Brian Loo has been a Portfolio Manager of Garrison Point since 2013. He has also been the Managing Director of Garrison Point Funds, LLC and a Registered Representative of S.F. Sentry Securities, Inc. since 2013. Mr. Loo joined Garrison Point Capital, LLC in 2013 from The TCW Group, Inc. where he served as a Portfolio Manager in the Structured Products Group beginning in 2009. Mr. Loo began his career as Senior Vice President in the mortgage backed securities department of TCW in 1994 and left TCW in 1996 to become a founding member Principal of Metropolitan West Asset Management, a fixed income money manager, which was acquired by TCW in 1996. Mr. Loo holds a BS from UCLA, an MSIA from Carnegie Mellon Tepper School of Business and is a CFA charterholder.

Garrett Smith


Start Date

Tenure

Tenure Rank

May 28, 2015

4.68

4.7%

Garrett Smith has been a Principal and Portfolio Manager of Garrison Point since 2012. He has also been a Principal and Portfolio Manager of Garrison Point Funds, LLC since 2012, a Registered Representative of S.F. Sentry Securities, Inc. since 2012 and a Registered Investment Advisor representative of San Francisco Sentry Investment Group since 2012. From 2008 to co-founding Garrison Point in 2012, Mr. Smith was Vice President of Barclays Capital, Inc and, from 2006 to 2008, he was a Securitized Product Trader for Lehman Brothers, Inc. where he traded agency and non-agency mortgage backed securities. From 1996 to 2005, Mr. Smith was an officer in the U.S. Navy. Mr. Smith received MBA and MEM degrees from Northwestern University and BS degrees from the United States Naval Academy and University of Maryland.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.73 5.49 3.59