Mercer Core Fixed Income Fund
Name
As of 12/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.6%
1 yr return
1.9%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$1.72 B
Holdings in Top 10
10.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.63%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 131.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
MCFQX - Profile
Distributions
- YTD Total Return 1.6%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.98%
- Dividend Yield 4.2%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameMercer Core Fixed Income Fund
-
Fund Family NameMERCERGLIN
-
Inception DateDec 27, 2021
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerWilliam O'Malley
Fund Description
The Fund invests principally in investment grade fixed income securities, including government securities, corporate bonds and securitized bonds such as mortgage and asset-backed securities. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus borrowings for investment purposes, if any) in fixed income securities. (If the Fund changes this investment policy, the Fund will notify shareholders at least 60 days in advance of the change.) The Fund also may invest in non-investment grade bonds (sometimes called high yield or junk bonds), non-U.S. dollar denominated bonds, bonds issued by issuers located in emerging capital markets. The Fund may also invest in securities that are subject to resale restrictions such as those contained in Rule 144A promulgated under the Securities Act of 1933, as amended. The Fund may invest in derivative instruments, such as options, futures, and swap agreements. The Fund may engage in transactions in derivatives for a variety of purposes, including changing the investment characteristics of its portfolio, enhancing total returns, or as a substitute for taking a position in the underlying asset. Investments in derivatives may be applied toward meeting a requirement to invest in a particular kind of investment if the derivatives have economic characteristics similar to that investment. Generally, the Fund is managed to maintain a duration within 20% of the duration of the Bloomberg U.S. Aggregate Bond Index (as of June 30, 2024, the duration of the Index was 6.08 years).Duration is a measure of the sensitivity of the price of a debt security (or a portfolio of debt securities) to changes in interest rates. The prices of debt securities with shorter durations generally will be less affected by changes in interest rates than the prices of debt securities with longer durations.
MCFQX - Performance
Return Ranking - Trailing
Period | MCFQX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.6% | -7.5% | 11.4% | 50.73% |
1 Yr | 1.9% | -6.5% | 14.2% | 37.34% |
3 Yr | N/A* | -10.6% | 27.3% | 28.96% |
5 Yr | N/A* | -7.5% | 58.4% | 24.56% |
10 Yr | N/A* | -3.0% | 73.7% | 31.72% |
* Annualized
Return Ranking - Calendar
Period | MCFQX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.8% | -16.2% | 8.1% | 20.37% |
2022 | -16.4% | -34.7% | 131.9% | 63.51% |
2021 | N/A | -11.6% | 4.4% | N/A |
2020 | N/A | -9.9% | 946.1% | N/A |
2019 | N/A | -1.7% | 16.9% | N/A |
Total Return Ranking - Trailing
Period | MCFQX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.6% | -7.5% | 11.4% | 50.73% |
1 Yr | 1.9% | -6.5% | 14.2% | 37.34% |
3 Yr | N/A* | -10.6% | 27.3% | 26.46% |
5 Yr | N/A* | -7.5% | 58.4% | 22.71% |
10 Yr | N/A* | -3.0% | 73.7% | 29.61% |
* Annualized
Total Return Ranking - Calendar
Period | MCFQX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.3% | -11.3% | 11.9% | 41.16% |
2022 | -16.4% | -32.2% | 131.9% | 94.26% |
2021 | N/A | -9.4% | 9.2% | N/A |
2020 | N/A | -1.9% | 1009.0% | N/A |
2019 | N/A | 1.1% | 21668.0% | N/A |
NAV & Total Return History
MCFQX - Holdings
Concentration Analysis
MCFQX | Category Low | Category High | MCFQX % Rank | |
---|---|---|---|---|
Net Assets | 1.72 B | 2.9 M | 314 B | 47.41% |
Number of Holdings | 2069 | 1 | 17880 | 18.98% |
Net Assets in Top 10 | 248 M | 1.62 M | 35.1 B | 58.71% |
Weighting of Top 10 | 10.52% | 4.7% | 3984.6% | 94.17% |
Top 10 Holdings
- U.S. Treasury Notes 1.75%
- U.S. Treasury Bonds 1.10%
- U.S. Treasury Notes 1.10%
- U.S. Treasury Bonds 1.07%
- State Street Navigator Securities Lending Government Money Market Portfolio 1.05%
- U.S. Treasury Notes 0.95%
- U.S. Treasury Bonds 0.95%
- U.S. Treasury Bonds 0.92%
- U.S. Treasury Notes 0.83%
- U.S. Treasury Bonds 0.80%
Asset Allocation
Weighting | Return Low | Return High | MCFQX % Rank | |
---|---|---|---|---|
Bonds | 91.96% | 0.00% | 9231.88% | 67.29% |
Other | 6.98% | -27.25% | 1695.17% | 33.71% |
Cash | 1.07% | -54.51% | 237.69% | 73.76% |
Convertible Bonds | 1.06% | 0.00% | 7.93% | 65.73% |
Stocks | 0.00% | 0.00% | 99.98% | 33.95% |
Preferred Stocks | 0.00% | 0.00% | 72.34% | 40.04% |
Stock Sector Breakdown
Weighting | Return Low | Return High | MCFQX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | N/A |
Technology | 0.00% | 0.00% | 43.45% | N/A |
Real Estate | 0.00% | 0.00% | 99.26% | N/A |
Industrials | 0.00% | 0.00% | 48.31% | N/A |
Healthcare | 0.00% | 0.00% | 17.70% | N/A |
Financial Services | 0.00% | 0.00% | 100.00% | N/A |
Energy | 0.00% | 0.00% | 100.00% | N/A |
Communication Services | 0.00% | 0.00% | 100.00% | N/A |
Consumer Defense | 0.00% | 0.00% | 99.67% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | N/A |
Basic Materials | 0.00% | 0.00% | 100.00% | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | MCFQX % Rank | |
---|---|---|---|---|
US | 0.00% | 0.00% | 99.98% | 32.47% |
Non US | 0.00% | 0.00% | 88.46% | 21.58% |
Bond Sector Breakdown
Weighting | Return Low | Return High | MCFQX % Rank | |
---|---|---|---|---|
Securitized | 37.26% | 0.00% | 98.40% | 27.27% |
Corporate | 31.53% | 0.00% | 100.00% | 45.04% |
Government | 28.66% | 0.00% | 86.23% | 43.16% |
Municipal | 1.07% | 0.00% | 100.00% | 27.27% |
Cash & Equivalents | 1.05% | 0.00% | 237.69% | 69.40% |
Derivative | 0.05% | -6.56% | 44.82% | 33.20% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | MCFQX % Rank | |
---|---|---|---|---|
US | 90.89% | 0.00% | 9042.62% | 60.48% |
Non US | 1.06% | 0.00% | 189.26% | 28.01% |
MCFQX - Expenses
Operational Fees
MCFQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.63% | 0.01% | 39.64% | 55.95% |
Management Fee | 0.32% | 0.00% | 1.76% | 37.42% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.02% | 0.01% | 0.50% | 1.86% |
Sales Fees
MCFQX 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% | 4.00% | N/A |
Trading Fees
MCFQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 1.00% | 2.00% | 21.05% |
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.
MCFQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 131.00% | 2.00% | 493.39% | 50.67% |
MCFQX - Distributions
Dividend Yield Analysis
MCFQX | Category Low | Category High | MCFQX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.16% | 0.00% | 10.11% | 68.84% |
Dividend Distribution Analysis
MCFQX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Quarterly | Monthly | Quarterly |
Net Income Ratio Analysis
MCFQX | Category Low | Category High | MCFQX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.98% | -1.28% | 4.79% | 88.73% |
Capital Gain Distribution Analysis
MCFQX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 12, 2024 | $0.365 | OrdinaryDividend |
Dec 14, 2023 | $0.305 | OrdinaryDividend |
MCFQX - Fund Manager Analysis
Managers
William O'Malley
Start Date
Tenure
Tenure Rank
Apr 03, 2014
8.16
8.2%
Bill joined IR+M in September 1994. Prior to IR+M, Bill was a Vice President at Wellington Management Company, LLP. Before joining Wellington in 1989, Bill worked at The Vanguard Group and in Morgan Stanley's Fixed Income Division. Bill has a BA from Amherst College (1984) and an MBA from The Wharton School of the University of Pennsylvania (1989).
Richard Piccirillo
Start Date
Tenure
Tenure Rank
Apr 03, 2014
8.16
8.2%
Richard Piccirillo is a Principal and senior portfolio manager for PGIM Fixed Income’s Core, Long Government/Credit, Core Plus, Absolute Return, and other multi-sector Fixed Income strategies. He is also a member of the Global Rates and Securitized Products Team focusing on CMBS. Mr. Piccirillo has specialized in mortgage-and asset- backed securities since joining Prudential Financial in 1993. Before joining Prudential Financial, Mr. Piccirillo was a fixed income analyst with Fischer Francis Trees & Watts. Mr. Piccirillo started his career as a financial analyst at Smith Barney. He received a BBA in Finance from George Washington University and an MBA in Finance and International Business from New York University.
Gregory Peters
Start Date
Tenure
Tenure Rank
May 31, 2014
8.01
8.0%
Gregory Peters is a Managing Director and Senior Investment Officer of PGIM Fixed Income. He is also senior portfolio manager for Core, Long Government/Credit, Core Plus, Absolute Return, and other multi-sector Fixed Income strategies. Prior to joining PGIM Fixed Income, Mr. Peters was the Chief Global Cross Asset Strategist at Morgan Stanley and responsible for the firm's macro research and asset allocation strategy. In addition, he was Morgan Stanley's Global Director of Fixed Income & Economic Research and served on the Firm Risk, Investment, Asset Allocation, Global Credit, and Global Fixed Income Operating Committees. Earlier, Mr. Peters worked at Salomon Smith Barney and the Department of U.S. Treasury. Mr. Peters has been recognized by Institutional Investor magazine for his efforts in macro, fixed income, high yield and investment grade strategies. Mr. Peters was also recently recognized as Business Insider's Top Analysts and Top Analyst's to Watch by CEO World. Mr. Peters earned a BA in Finance from The College of New Jersey and an MBA from Fordham University. He is also a member of the Fixed Income Analyst Society and the Bond Market Association.
James Gubitosi
Start Date
Tenure
Tenure Rank
Feb 02, 2016
6.33
6.3%
Jim joined IR+M in March 2007 and Mr. Gubitosi was previously an Analyst and Portfolio Manager with Income Research & Management (“IR+M”). Prior to IR+M, he was a Senior Analyst at Financial Architects Partners. Jim has a BSBA from Boston University School of Management (2004).
Jeffrey Given
Start Date
Tenure
Tenure Rank
Jun 01, 2016
6.0
6.0%
Jeffrey N. Given, CFA Senior Portfolio Manager, Co-Head of U.S. Core and Core-Plus Fixed Income, Manulife Investment Management Jeff is co-head of the firm’s U.S. core and core-plus fixed-income team and is responsible for the firm’s securitized, core, core-plus, and government bond strategies. Prior to joining the portfolio management team, he was focused on research and trading in mortgage-backed securities within the Manulife fixed-income teams. Previously, he was an investment compliance analyst at the company.
Howard Greene
Start Date
Tenure
Tenure Rank
Jun 01, 2016
6.0
6.0%
Howard C. Greene, CFA Senior Portfolio Manager, Co-Head of U.S. Core and Core-Plus Fixed Income, Manulife Investment Management Howard is co-head of the firm’s U.S. core and core-plus fixed-income team and serves as a co-lead portfolio manager for the core and core-plus fixed-income strategies. Prior to joining the company, he spent more than 14 years at Sun Life Financial Services of Canada as a senior vice president for Sun Capital Advisers, managing investment-grade and high-yield fixed-income portfolios.
Bill O'Neill
Start Date
Tenure
Tenure Rank
Jan 31, 2020
2.33
2.3%
Bill joined IR+M in July 2004. Prior to IR+M, he was a Trader at Investors Bank and Trust. Bill has a BSBA from the University of Rhode Island (2000) and an MBA from F.W. Olin Graduate School of Business, Babson College (2010).
Pranay Sonalkar
Start Date
Tenure
Tenure Rank
Jul 31, 2021
0.83
0.8%
Pranay Sonalkar Associate Portfolio Manager, U.S. Core and Core Plus Fixed Income, Manulife Investment Management Pranay is an associate portfolio manager on the firm’s U.S. Core and Core Plus Fixed Income team. Previously, he was a credit research analyst and sector lead responsible for research coverage of the industrials, utilities, and energy sectors. Prior to that, he was a lead credit analyst with Standard & Poor's on various chemical and environmental services issuers and, before that, he worked for Barclays Capital as a sell-side credit analyst assisting coverage in multiple sectors. Education: B.A., Economics and Mathematical Science, Colby College; M.B.A., Cornell University–Samuel Curtis Johnson Graduate School of Management Joined the company: 2014 Began career: 2007
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 33.43 | 6.77 | 1.16 |