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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$10.94

$726 M

2.56%

$0.28

2.30%

Vitals

YTD Return

1.5%

1 yr return

8.0%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$726 M

Holdings in Top 10

100.0%

52 WEEK LOW AND HIGH

$10.9
$10.45
$11.08

Expenses

OPERATING FEES

Expense Ratio 2.30%

SALES FEES

Front Load 4.75%

Deferred Load N/A

TRADING FEES

Turnover 233.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund

Investment Style

Nontraditional Bond


Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$10.94

$726 M

2.56%

$0.28

2.30%

KAMAX - Profile

Distributions

  • YTD Total Return 1.5%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.93%
DIVIDENDS
  • Dividend Yield 2.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Kensington Managed Income Fund
  • Fund Family Name
    Advisors Preferred
  • Inception Date
    May 31, 2019
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Bruce DeLaurentis

Fund Description

The fund seeks to achieve its investment objective by investing primarily in mutual funds that invest in income-producing securities. It may invest in junk bonds that are in default, subject to bankruptcy or reorganization. The fund's adviser does not select individual securities as a principal strategy, but rather employs a fund-of-funds approach that achieves exposure to income-producing securities through mutual funds. It is non-diversified.


KAMAX - Performance

Return Ranking - Trailing

Period KAMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -25.0% 26.9% 19.97%
1 Yr 8.0% -29.1% 49.5% 28.10%
3 Yr N/A* -10.1% 11.4% N/A
5 Yr N/A* -14.3% 13.4% N/A
10 Yr N/A* -1.3% 14.7% N/A

* Annualized

Return Ranking - Calendar

Period KAMAX Return Category Return Low Category Return High Rank in Category (%)
2020 5.7% -49.2% 314.3% 12.55%
2019 N/A -35.1% 16.7% N/A
2018 N/A -48.0% 3.4% N/A
2017 N/A -14.8% 11.2% N/A
2016 N/A -11.2% 12.8% N/A

Total Return Ranking - Trailing

Period KAMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -25.0% 27.1% 19.97%
1 Yr 2.8% -33.2% 49.5% 75.38%
3 Yr N/A* -11.9% 13.0% N/A
5 Yr N/A* -15.3% 13.4% N/A
10 Yr N/A* -1.3% 14.7% N/A

* Annualized

Total Return Ranking - Calendar

Period KAMAX Return Category Return Low Category Return High Rank in Category (%)
2020 5.7% -49.2% 314.3% 12.55%
2019 N/A -35.1% 16.7% N/A
2018 N/A -48.0% 8.0% N/A
2017 N/A -14.8% 15.2% N/A
2016 N/A -11.2% 17.7% N/A

NAV & Total Return History


KAMAX - Holdings

Concentration Analysis

KAMAX Category Low Category High KAMAX % Rank
Net Assets 726 M 25 145 B 48.78%
Number of Holdings 12 3 7887 92.59%
Net Assets in Top 10 608 M -8.09 B 8.87 B 18.84%
Weighting of Top 10 99.97% 3.9% 100.0% 2.17%

Top 10 Holdings

  1. American Funds American High-Inc F3 19.07%
  2. PGIM High Yield Z 15.00%
  3. Vanguard High-Yield Corporate Adm 14.16%
  4. Fidelity® Capital & Income 13.42%
  5. Delaware Ivy High Income Fund Class I 13.07%
  6. JPMorgan Income I 10.72%
  7. Northern High Yield Fixed Income 5.21%
  8. BrandywineGLOBAL High Yield I 3.62%
  9. AlphaCentric Income Opportunities I 3.28%
  10. American Beacon SiM High Yld Opps Y 2.41%

Asset Allocation

Weighting Return Low Return High KAMAX % Rank
Bonds
88.14% -170.28% 217.61% 41.21%
Stocks
4.73% -40.29% 187.24% 15.08%
Cash
3.94% -154.89% 282.50% 66.08%
Convertible Bonds
1.46% 0.00% 123.23% 49.87%
Other
1.18% -39.52% 107.15% 10.30%
Preferred Stocks
0.56% 0.00% 32.82% 32.41%

Stock Sector Breakdown

Weighting Return Low Return High KAMAX % Rank
Energy
25.81% 0.00% 100.00% 33.33%
Consumer Cyclical
14.92% 0.00% 100.00% 15.90%
Communication Services
12.91% 0.00% 100.00% 17.43%
Technology
12.41% 0.00% 49.62% 13.60%
Consumer Defense
9.07% 0.00% 100.00% 9.39%
Healthcare
7.09% 0.00% 100.00% 16.67%
Financial Services
6.25% 0.00% 100.00% 44.83%
Industrials
4.29% 0.00% 100.00% 34.29%
Basic Materials
3.68% 0.00% 47.08% 29.12%
Utilities
2.31% 0.00% 100.00% 31.03%
Real Estate
1.27% 0.00% 100.00% 39.66%

Stock Geographic Breakdown

Weighting Return Low Return High KAMAX % Rank
US
4.41% -38.03% 187.24% 13.82%
Non US
0.32% -2.26% 10.38% 18.59%

Bond Sector Breakdown

Weighting Return Low Return High KAMAX % Rank
Corporate
84.23% 0.00% 100.00% 4.52%
Securitized
9.81% 0.00% 99.40% 62.06%
Cash & Equivalents
4.43% 0.00% 100.00% 70.73%
Government
1.45% 0.00% 99.48% 77.39%
Derivative
0.07% 0.00% 58.05% 51.51%
Municipal
0.02% 0.00% 54.18% 35.30%

Bond Geographic Breakdown

Weighting Return Low Return High KAMAX % Rank
US
76.64% -170.60% 209.58% 19.60%
Non US
11.50% 0.00% 126.35% 75.38%

KAMAX - Expenses

Operational Fees

KAMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.30% 0.02% 5.53% 10.35%
Management Fee 1.25% 0.00% 2.25% 90.70%
12b-1 Fee 0.25% 0.00% 1.00% 23.73%
Administrative Fee N/A 0.01% 0.85% N/A

Sales Fees

KAMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.75% 0.00% 5.75% 13.41%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

KAMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.40% 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.

KAMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 233.00% 0.00% 498.00% 89.66%

KAMAX - Distributions

Dividend Yield Analysis

KAMAX Category Low Category High KAMAX % Rank
Dividend Yield 2.56% 0.00% 2.95% 18.56%

Dividend Distribution Analysis

KAMAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Weekly Monthly

Net Income Ratio Analysis

KAMAX Category Low Category High KAMAX % Rank
Net Income Ratio 2.93% -4.62% 11.44% 57.92%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

KAMAX - Fund Manager Analysis

Managers

Bruce DeLaurentis


Start Date

Tenure

Tenure Rank

May 31, 2019

2.34

2.3%

Mr. DeLaurentis’ investment experience began in 1969 as an active trader and student of the stock market. In 1977 he became a registered representative with Underwood, Neuhaus & Co. in Dallas, TX. He adopted the Kensington name in 1984. The firm specializes in developing quantitative decision models that apply to the equity and fixed income markets and has licensed these models to a variety of financial firms over the years. Kensington received the highest national ranking for equity market performance by MoniResearch Newsletter, an independent rating service, for the period 1984 to 1987. Starting in 1992, he shifted focus to high-yield corporate bonds using separately managed accounts. He is a founding member of The National Association of Active Investment Managers (NAAIM). Since 1992, Mr. DeLaurentis has guided the Kensington Managed Income program through two major bear markets, 2000 to 2002, and 2007 to 2009 with positive outcomes in both instances. Over that time, Managed Income has compiled one of the best track records in the U.S. for a tactical high-yield bond strategy. All of the quantitative/mathematical algorithms that drive Managed Income were created by Mr. DeLaurentis who is now broadening the product suite at Kensington. The new product suite includes several equity products along with the firm’s fixed-income offerings. Mr. DeLaurentis is spearheading a new growth cycle at Kensington which entails moving the company onto an array of institutional platforms so that a broader cross-section of the investment community will be able to access Kensington’s elite risk-mitigated outcomes. He attended the Massachusetts Institute of Technology and graduated in 1975 from Hofstra University in New York with a bachelor’s degree in economics. He was a chief warrant officer in the U.S. Army and served as a helicopter pilot. Following a tour in Vietnam from 1967 to 1968, he served as an instructor pilot. Mr. DeLaurentis is currently an Investment Advisor Representative with Advisors Preferred, LLC.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 27.77 5.46 2.75