MUNIX: ISI Managed Municipal A

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MUNIX ISI Managed Municipal A


Profile

MUNIX - Profile

Vitals

  • YTD Return N/A
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $573 K
  • Holdings in Top 10 63.6%

52 WEEK LOW AND HIGH

$10.41
$8.94
$10.41

Expenses

OPERATING RELATED FEES

  • Expense Ratio 6.04%

SALES FEES

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

BROKERAGE FEES

  • Turnover 314.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

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

Fund Classification


Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.64%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AlphaCentric Municipal Opportunities Fund
  • Fund Family Name
    AlphaCentric Funds
  • Inception Date
    Dec 31, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Gerald Prior

Fund Description

The fund seeks to achieve its investment objective by investing primarily in municipal securities that are exempt from regular federal individual income taxes. It selects investments without regard to the alternative minimum tax (AMT). Under normal market conditions, the fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in municipal securities (directly or through underlying funds) that are exempt from regular federal income tax. It is non-diversified.


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Categories

Performance

MUNIX - Performance

Return Ranking - Trailing

Period MUNIX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -10.6% 3.6% N/A
1 Yr N/A -11.4% 5.3% N/A
3 Yr N/A* -1.2% 3.4% N/A
5 Yr N/A* -2.2% 3.0% N/A
10 Yr N/A* -1.4% 2.1% N/A

* Annualized

Return Ranking - Calendar

Period MUNIX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -0.7% 9.1% N/A
2018 N/A -4.8% 9.2% N/A
2017 N/A -9.7% 8.6% N/A
2016 N/A -6.1% -0.8% N/A
2015 N/A -5.6% 2.9% N/A

Total Return Ranking - Trailing

Period MUNIX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -10.6% 3.6% N/A
1 Yr N/A -11.4% 5.3% N/A
3 Yr N/A* -1.2% 3.4% N/A
5 Yr N/A* -2.2% 3.2% N/A
10 Yr N/A* -1.4% 4.6% N/A

* Annualized

Total Return Ranking - Calendar

Period MUNIX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -0.7% 9.1% N/A
2018 N/A -4.8% 9.2% N/A
2017 N/A -9.7% 8.8% N/A
2016 N/A -6.1% 1.1% N/A
2015 N/A -5.6% 5.3% N/A

NAV & Total Return History


Holdings

MUNIX - Holdings

Concentration Analysis

MUNIX Category Low Category High MUNIX % Rank
Net Assets 573 K 573 K 19.1 B 99.50%
Number of Holdings 17 5 3546 97.01%
Net Assets in Top 10 251 K -38.7 M 2.74 B 98.01%
Weighting of Top 10 63.57% 4.8% 96.4% 3.02%

Top 10 Holdings

  1. PIMCO Municipal Income II 9.60%
  2. WISCONSIN HEALTH & EDL FACS AUTH SR LIVING REV 4% 7.06%
  3. PUERTO RICO ELEC PWR AUTH PWR REV 5.25% 6.48%
  4. MISSOURI ST HEALTH & EDL FACS AUTH REV 5% 6.45%
  5. PUERTO RICO COMWLTH HWY & TRANSN AUTH TRANSN REV 5.25% 6.41%
  6. Nuveen Muni High Inc Opp 5.87%
  7. SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH ECONOMIC DEV REV 5% 5.74%
  8. MainStay MacKay DefinedTerm Muni Opp 5.70%
  9. CAPITAL TR AGY FLA SR LIVING REV 5% 5.19%
  10. MFS High Income Municipal Trust 5.06%

Asset Allocation

Weighting Return Low Return High MUNIX % Rank
Bonds
89.85% 0.00% 148.07% 98.02%
Cash
12.47% -1.98% 100.00% 2.49%
Stocks
0.11% 0.00% 4.46% 7.92%
Convertible Bonds
0.00% 0.00% 0.00% 48.26%
Other
-0.04% -0.04% 1.65% 99.50%
Preferred Stocks
-2.39% -48.07% 0.00% 99.00%

Stock Sector Breakdown

Weighting Return Low Return High MUNIX % Rank
Utilities
0.00% 0.00% 0.00% N/A
Technology
0.00% 0.00% 0.00% N/A
Real Estate
0.00% 0.00% 0.00% N/A
Industrials
0.00% 0.00% 100.00% N/A
Healthcare
0.00% 0.00% 0.00% N/A
Financial Services
0.00% 0.00% 0.00% N/A
Energy
0.00% 0.00% 100.00% N/A
Communication Services
0.00% 0.00% 0.00% N/A
Consumer Defense
0.00% 0.00% 0.00% N/A
Consumer Cyclical
0.00% 0.00% 72.13% N/A
Basic Materials
0.00% 0.00% 100.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High MUNIX % Rank
US
0.11% 0.00% 4.46% 7.96%
Non US
0.00% 0.00% 0.00% 48.26%

Bond Sector Breakdown

Weighting Return Low Return High MUNIX % Rank
Municipal
80.00% 0.00% 100.00% 98.51%
Cash & Equivalents
19.94% 0.00% 100.00% 1.99%
Government
0.04% -2.36% 0.86% 11.44%
Corporate
0.02% 0.00% 9.75% 29.85%
Derivative
0.00% 0.00% 0.25% 50.25%
Securitized
0.00% 0.00% 0.00% 48.26%

Bond Geographic Breakdown

Weighting Return Low Return High MUNIX % Rank
US
73.53% 0.00% 141.91% 98.51%
Non US
16.32% 0.00% 16.32% 1.00%

Expenses

MUNIX - Expenses

Operational Fees

MUNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 6.04% 0.18% 7.04% 1.50%
Management Fee 1.00% 0.00% 1.25% 99.01%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.35% N/A

Sales Fees

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

Trading Fees

MUNIX 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.

MUNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 314.00% 5.10% 314.00% 99.50%

Distributions

MUNIX - Distributions

Dividend Yield Analysis

MUNIX Category Low Category High MUNIX % Rank
Dividend Yield 0.19% 0.00% 0.62% 3.47%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MUNIX Category Low Category High MUNIX % Rank
Net Income Ratio 1.64% -0.98% 5.67% 99.00%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

MUNIX - Fund Manager Analysis

Managers

Gerald Prior


Start Date

Tenure

Tenure Rank

Dec 31, 2019

0.58

0.6%

Jerry joined Mount Lucas in 1997. He is the portfolio manager for the MLM Index™ and for custom quantitative derivative products. Before his promotion to portfolio manager, he was responsible for maintaining the firm's investment technology infrastructure and for conducting extensive portfolio research using futures modeling. His particular expertise is in the development, implementation, and oversight of the firm’s proprietary models, and their execution through the trading operation. Jerry graduated cum laude in 1997 from Villanova University with a B.S. in Mathematics.

Timothy Rudderow


Start Date

Tenure

Tenure Rank

Dec 31, 2019

0.58

0.6%

Tim Rudderow serves as Chief Executive Officer & Chief Investment Officer of Mount Lucas. Mr. Rudderow was a co-founder of Mount Lucas in 1986 and is the firm's Chief Executive Officer, overseeing all of its activities. He has been in the investment business for more than thirty years, beginning in the late 1970s at Commodities Corporation where he worked on the grain markets and on the design and management of technical trading systems. Mr. Rudderow holds a BA in Mathematics from Rutgers University and an MBA in Management Analysis from Drexel University.

David Aspell


Start Date

Tenure

Tenure Rank

Dec 31, 2019

0.58

0.6%

David Aspell, Portfolio Manager, joined Mount Lucas in 2011 as the firm’s Chief Risk Officer. Prior to joining Mount Lucas, Mr. Aspell spent approximately 6 years at Man Group as a Senior Risk Manager, working in London, New York, and Chicago. Mr. Aspell holds a Masters degree from Nottingham University

Robert Roffo


Start Date

Tenure

Tenure Rank

Dec 31, 2019

0.58

0.6%

Roberto Roffo Mr. Roffo has over 20 years of portfolio management experience, previously serving as Managing Director/Senior Portfolio Manager of SMC Fixed Income Management. Mr. Roffo was a Director at Claymore Advisors and Merrill Lynch Asset Management, where he was named Top Performing Fund Manager from 1998-2002 by Lipper Analytical. He earned his Bachelor of Arts degree in Economics and English from the University of Massachusetts – Boston.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 28.6 7.12 0.69