KIFYX: Salient Select Income Institutional

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KIFYX Salient Select Income Institutional


Profile

KIFYX - Profile

Vitals

  • YTD Return -14.1%
  • 3 Yr Annualized Return -7.8%
  • 5 Yr Annualized Return -5.9%
  • Net Assets $330 M
  • Holdings in Top 10 34.8%

52 WEEK LOW AND HIGH

$18.40
$11.88
$21.95

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.35%

SALES FEES

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

BROKERAGE FEES

  • Turnover 49.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $100,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -14.1%
  • 3 Yr Annualized Total Return -3.8%
  • 5 Yr Annualized Total Return 2.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.72%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Salient Select Income Fund
  • Fund Family Name
    Salient Funds
  • Inception Date
    Apr 28, 2006
  • Shares Outstanding
    9758349
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Joel Beam

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. It 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.


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Categories

Performance

KIFYX - Performance

Return Ranking - Trailing

Period KIFYX Return Category Return Low Category Return High Rank in Category (%)
YTD -14.1% -28.6% 28.8% 93.75%
1 Yr -12.9% -27.7% 28.4% 96.79%
3 Yr -7.8%* -12.5% 11.5% 97.12%
5 Yr -5.9%* -8.1% 8.3% 96.03%
10 Yr -2.0%* -5.2% 7.0% 97.47%

* Annualized

Return Ranking - Calendar

Period KIFYX Return Category Return Low Category Return High Rank in Category (%)
2019 12.3% -8.6% 24.4% 66.45%
2018 -13.8% -15.4% -2.5% 85.71%
2017 -7.1% -7.8% 15.4% 97.06%
2016 6.5% -4.1% 14.2% 26.52%
2015 -12.1% -26.1% 2.5% 82.05%

Total Return Ranking - Trailing

Period KIFYX Return Category Return Low Category Return High Rank in Category (%)
YTD -14.1% -28.6% 28.8% 93.75%
1 Yr -12.9% -27.7% 28.4% 96.79%
3 Yr -3.8%* -9.6% 17.1% 92.09%
5 Yr 2.2%* -6.8% 12.8% 61.11%
10 Yr 8.3%* -5.2% 12.2% 36.71%

* Annualized

Total Return Ranking - Calendar

Period KIFYX Return Category Return Low Category Return High Rank in Category (%)
2019 12.3% -8.6% 24.4% 72.26%
2018 -8.5% -15.4% 4.5% 54.29%
2017 3.0% -1.0% 18.4% 93.38%
2016 20.1% -4.1% 20.1% 0.76%
2015 4.5% -26.1% 6.2% 8.55%

NAV & Total Return History


Holdings

KIFYX - Holdings

Concentration Analysis

KIFYX Category Low Category High KIFYX % Rank
Net Assets 330 M 196 K 9.35 B 65.24%
Number of Holdings 65 38 371 92.68%
Net Assets in Top 10 114 M -318 M 1.01 B 62.20%
Weighting of Top 10 34.81% 10.4% 85.7% 15.24%

Top 10 Holdings

  1. UMH Properties Inc 6.75 % Cum Conv Red Pfd Registered Shs Series -C- 4.24%
  2. Lexington Realty Trust 6.50% Series C Cumulative Convertible Preferred Stoc 4.09%
  3. Farmland Partners Inc Participating Preferred 3.93%
  4. RLJ Lodging Trust USD 1.95 Cum Conv Pfd Registered Shs Series -A- 3.75%
  5. National Storage Affiliates Trust 6% PRF PERPETUAL USD 25 - Ser A 3.53%
  6. Sabra Health Care REIT Inc 3.25%
  7. Monmouth Real Estate Investment Corp C 3.22%
  8. VEREIT Inc 6 7/10 % Cum Red Pfd Shs Series -F- 3.06%
  9. Istar 2.98%
  10. QTS Realty Trust Inc Pfd 2.76%

Asset Allocation

Weighting Return Low Return High KIFYX % Rank
Preferred Stocks
60.10% 0.00% 76.75% 7.93%
Stocks
26.16% -5.93% 47.36% 4.27%
Other
6.98% 0.00% 15.69% 7.93%
Cash
4.04% -6.83% 16.87% 28.66%
Convertible Bonds
2.72% 0.00% 108.22% 93.29%
Bonds
0.00% -14.80% 70.12% 90.24%

Stock Sector Breakdown

Weighting Return Low Return High KIFYX % Rank
Real Estate
100.00% 0.00% 100.00% 6.02%
Utilities
0.00% 0.00% 100.00% 94.74%
Technology
0.00% 0.00% 31.66% 79.70%
Industrials
0.00% 0.00% 43.65% 85.71%
Healthcare
0.00% 0.00% 34.05% 79.70%
Financial Services
0.00% 0.00% 100.00% 80.45%
Energy
0.00% 0.00% 100.00% 75.19%
Communication Services
0.00% 0.00% 12.83% 78.20%
Consumer Defense
0.00% 0.00% 7.91% 72.18%
Consumer Cyclical
0.00% 0.00% 14.27% 70.68%
Basic Materials
0.00% 0.00% 29.35% 79.70%

Stock Geographic Breakdown

Weighting Return Low Return High KIFYX % Rank
US
26.16% -5.85% 43.27% 3.66%
Non US
0.00% -0.08% 5.67% 79.88%

Expenses

KIFYX - Expenses

Operational Fees

KIFYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.35% 0.41% 94.07% 50.94%
Management Fee 1.00% 0.00% 1.42% 95.09%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.55% 61.33%

Sales Fees

KIFYX 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

KIFYX 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.

KIFYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 49.00% 5.00% 175.00% 53.05%

Distributions

KIFYX - Distributions

Dividend Yield Analysis

KIFYX Category Low Category High KIFYX % Rank
Dividend Yield 0.00% 0.00% 6.47% 70.12%

Dividend Distribution Analysis

KIFYX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Quarterly Quarterly Quarterly

Net Income Ratio Analysis

KIFYX Category Low Category High KIFYX % Rank
Net Income Ratio 2.72% -0.26% 9.30% 48.43%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

KIFYX - Fund Manager Analysis

Managers

Joel Beam


Start Date

Tenure

Tenure Rank

Mar 30, 2001

19.35

19.4%

Joel S. Beam. Mr. Beam has been a portfolio manager for Salient Management since June 2009. Mr. Beam has been a portfolio manager for Forward Management since June 2009. Mr. Beam has primary responsibility for the day-to-day management of the Forward Select Income Fund and co-primary responsibility for the day-to-day management of the Forward Real Estate Fund. Mr. Beam served as a portfolio manager responsible for securities investment decisions on behalf of Kensington Investment Group, Inc.’s income-oriented portfolios from 1997 to June 2009. He joined Kensington in 1995 as a Senior Analyst and began managing portfolios in 1997. He was previously employed by Liquidity Financial Advisors, Inc. where he was responsible for valuation and pricing of real estate limited partnership and institutional commingled investment fund securities, as well as their underlying properties. Mr. Beam has managed the Forward Global Infrastructure Fund since its inception in June 2007, Forward International Real Estate Fund since its inception in April 2006, Forward Real Estate Long/Short Fund since its inception in September 2009, and Forward Select Income Fund since its inception in March 2001and the Forward Real Estate Fund since March 2010.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.41 35.13 9.26 9.59