Muzinich Low Duration Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
3.9%
1 yr return
7.7%
3 Yr Avg Return
2.2%
5 Yr Avg Return
3.0%
Net Assets
$982 M
Holdings in Top 10
7.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.61%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 69.00%
Redemption Fee 1.00%
Min Investment
Standard (Taxable)
$5,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
MZLSX - Profile
Distributions
- YTD Total Return 3.9%
- 3 Yr Annualized Total Return 2.2%
- 5 Yr Annualized Total Return 3.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.46%
- Dividend Yield 1.2%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameMuzinich Low Duration Fund
-
Fund Family NameMuzinich
-
Inception DateJun 30, 2016
-
Shares Outstanding49671116
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTatjana Greil-Castro
Fund Description
MZLSX - Performance
Return Ranking - Trailing
Period | MZLSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.9% | -6.5% | 5.7% | 2.78% |
1 Yr | 7.7% | -9.3% | 24.0% | 44.82% |
3 Yr | 2.2%* | -16.7% | 18.1% | 15.77% |
5 Yr | 3.0%* | -13.0% | 15.2% | 25.70% |
10 Yr | N/A* | -13.4% | 6.7% | N/A |
* Annualized
Return Ranking - Calendar
Period | MZLSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.5% | -12.0% | 15.7% | 58.95% |
2022 | -7.0% | -31.8% | 18.4% | 20.25% |
2021 | -3.7% | -26.6% | 25.7% | 83.66% |
2020 | 0.5% | -49.2% | 18.7% | 63.60% |
2019 | 5.5% | -35.1% | 15.3% | 39.24% |
Total Return Ranking - Trailing
Period | MZLSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.9% | -6.5% | 5.7% | 2.78% |
1 Yr | 7.7% | -9.3% | 24.0% | 44.82% |
3 Yr | 2.2%* | -16.7% | 18.1% | 15.77% |
5 Yr | 3.0%* | -13.0% | 15.2% | 25.70% |
10 Yr | N/A* | -13.4% | 6.7% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | MZLSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.3% | -7.0% | 22.2% | 8.49% |
2022 | 0.1% | -31.8% | 21.1% | 4.43% |
2021 | 3.1% | -13.5% | 49.9% | 29.90% |
2020 | 3.8% | -28.6% | 24.1% | 65.02% |
2019 | 14.6% | -4.8% | 19.1% | 3.81% |
NAV & Total Return History
MZLSX - Holdings
Concentration Analysis
MZLSX | Category Low | Category High | MZLSX % Rank | |
---|---|---|---|---|
Net Assets | 982 M | 2.32 M | 127 B | 39.69% |
Number of Holdings | 461 | 2 | 10577 | 51.14% |
Net Assets in Top 10 | 72 M | -1.57 B | 65.8 B | 65.40% |
Weighting of Top 10 | 7.33% | 0.7% | 170.6% | 95.83% |
Top 10 Holdings
- Societe Generale SA 0.90%
- UBS AG 0.86%
- Warnermedia Holdings Inc 0.79%
- AIB Group PLC 0.77%
- Credit Suisse AG/London 0.74%
- Intesa Sanpaolo SpA 0.74%
- Leasys SpA 0.67%
- VICI Properties LP / VICI Note Co Inc 0.63%
- BPCE SA 0.62%
- Commerzbank AG 0.62%
Asset Allocation
Weighting | Return Low | Return High | MZLSX % Rank | |
---|---|---|---|---|
Bonds | 100.53% | -150.81% | 203.29% | 19.58% |
Convertible Bonds | 9.19% | 0.00% | 33.50% | 4.83% |
Cash | 1.16% | -94.66% | 258.91% | 78.76% |
Stocks | 0.00% | -1.60% | 99.88% | 74.96% |
Preferred Stocks | 0.00% | 0.00% | 30.46% | 47.50% |
Other | -1.69% | -72.32% | 100.00% | 92.87% |
Bond Sector Breakdown
Weighting | Return Low | Return High | MZLSX % Rank | |
---|---|---|---|---|
Corporate | 51.90% | 0.00% | 96.66% | 31.30% |
Securitized | 2.15% | 0.00% | 99.65% | 84.19% |
Government | 0.92% | 0.00% | 99.43% | 80.75% |
Cash & Equivalents | 0.39% | 0.00% | 88.14% | 79.00% |
Municipal | 0.00% | 0.00% | 54.26% | 41.16% |
Derivative | -1.69% | -72.32% | 37.37% | 93.61% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | MZLSX % Rank | |
---|---|---|---|---|
US | 52.53% | -151.11% | 203.29% | 75.72% |
Non US | 48.00% | 0.00% | 67.77% | 5.16% |
MZLSX - Expenses
Operational Fees
MZLSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.61% | 0.01% | 20.67% | 90.02% |
Management Fee | 0.45% | 0.00% | 2.29% | 14.16% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
MZLSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
MZLSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 1.00% | 0.50% | 2.00% | 53.85% |
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.
MZLSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 69.00% | 0.00% | 632.00% | 40.11% |
MZLSX - Distributions
Dividend Yield Analysis
MZLSX | Category Low | Category High | MZLSX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.21% | 0.00% | 18.15% | 47.97% |
Dividend Distribution Analysis
MZLSX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annually | Monthly | Quarterly |
Net Income Ratio Analysis
MZLSX | Category Low | Category High | MZLSX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.46% | -1.55% | 11.51% | 67.18% |
Capital Gain Distribution Analysis
MZLSX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Feb 29, 2024 | $0.009 | OrdinaryDividend |
Jan 31, 2024 | $0.009 | OrdinaryDividend |
Dec 29, 2023 | $0.258 | OrdinaryDividend |
Nov 30, 2023 | $0.047 | OrdinaryDividend |
Oct 31, 2023 | $0.024 | OrdinaryDividend |
Sep 29, 2023 | $0.023 | OrdinaryDividend |
Aug 31, 2023 | $0.023 | OrdinaryDividend |
Jul 31, 2023 | $0.018 | OrdinaryDividend |
Jun 30, 2023 | $0.018 | OrdinaryDividend |
May 31, 2023 | $0.017 | OrdinaryDividend |
Apr 28, 2023 | $0.009 | OrdinaryDividend |
Mar 31, 2023 | $0.009 | OrdinaryDividend |
Feb 28, 2023 | $0.007 | OrdinaryDividend |
Jan 31, 2023 | $0.003 | OrdinaryDividend |
Nov 30, 2022 | $0.000 | OrdinaryDividend |
Oct 31, 2022 | $0.001 | OrdinaryDividend |
Sep 30, 2022 | $0.001 | OrdinaryDividend |
Aug 31, 2022 | $0.001 | OrdinaryDividend |
Jul 29, 2022 | $0.001 | OrdinaryDividend |
Jun 30, 2022 | $0.005 | OrdinaryDividend |
May 31, 2022 | $0.006 | OrdinaryDividend |
Apr 29, 2022 | $0.007 | OrdinaryDividend |
Mar 31, 2022 | $0.007 | OrdinaryDividend |
Feb 28, 2022 | $0.008 | OrdinaryDividend |
Jan 31, 2022 | $0.008 | OrdinaryDividend |
Dec 31, 2021 | $0.355 | OrdinaryDividend |
Nov 30, 2021 | $0.021 | OrdinaryDividend |
Oct 29, 2021 | $0.015 | OrdinaryDividend |
Sep 30, 2021 | $0.013 | OrdinaryDividend |
Aug 31, 2021 | $0.007 | OrdinaryDividend |
Jul 30, 2021 | $0.006 | OrdinaryDividend |
Jun 30, 2021 | $0.005 | OrdinaryDividend |
May 28, 2021 | $0.033 | OrdinaryDividend |
Apr 30, 2021 | $0.028 | OrdinaryDividend |
Mar 31, 2021 | $0.025 | OrdinaryDividend |
Feb 26, 2021 | $0.094 | OrdinaryDividend |
Jan 29, 2021 | $0.017 | OrdinaryDividend |
Dec 31, 2020 | $0.060 | OrdinaryDividend |
Nov 30, 2020 | $0.030 | OrdinaryDividend |
Oct 30, 2020 | $0.020 | OrdinaryDividend |
Sep 30, 2020 | $0.010 | OrdinaryDividend |
Aug 31, 2020 | $0.010 | OrdinaryDividend |
Jul 31, 2020 | $0.008 | OrdinaryDividend |
Jun 30, 2020 | $0.009 | OrdinaryDividend |
May 29, 2020 | $0.002 | OrdinaryDividend |
Apr 30, 2020 | $0.010 | OrdinaryDividend |
Mar 31, 2020 | $0.014 | OrdinaryDividend |
Feb 28, 2020 | $0.017 | OrdinaryDividend |
Jan 31, 2020 | $0.019 | OrdinaryDividend |
Nov 29, 2019 | $0.006 | OrdinaryDividend |
Oct 31, 2019 | $0.012 | OrdinaryDividend |
Sep 30, 2019 | $0.003 | OrdinaryDividend |
Aug 30, 2019 | $0.006 | OrdinaryDividend |
Jul 31, 2019 | $0.006 | OrdinaryDividend |
Jun 28, 2019 | $0.004 | OrdinaryDividend |
May 31, 2019 | $0.013 | OrdinaryDividend |
Apr 30, 2019 | $0.013 | OrdinaryDividend |
Mar 29, 2019 | $0.011 | OrdinaryDividend |
Feb 28, 2019 | $0.021 | OrdinaryDividend |
Jan 31, 2019 | $0.022 | OrdinaryDividend |
Dec 31, 2018 | $0.062 | OrdinaryDividend |
Nov 30, 2018 | $0.024 | OrdinaryDividend |
Oct 31, 2018 | $0.025 | OrdinaryDividend |
Sep 28, 2018 | $0.021 | OrdinaryDividend |
Aug 31, 2018 | $0.021 | OrdinaryDividend |
Jul 31, 2018 | $0.020 | OrdinaryDividend |
Jun 29, 2018 | $0.019 | OrdinaryDividend |
May 31, 2018 | $0.020 | OrdinaryDividend |
Apr 30, 2018 | $0.019 | OrdinaryDividend |
Mar 29, 2018 | $0.021 | OrdinaryDividend |
Feb 28, 2018 | $0.018 | OrdinaryDividend |
Jan 31, 2018 | $0.019 | OrdinaryDividend |
Apr 28, 2017 | $0.019 | OrdinaryDividend |
Mar 31, 2017 | $0.022 | OrdinaryDividend |
Feb 28, 2017 | $0.037 | OrdinaryDividend |
Jan 31, 2017 | $0.113 | OrdinaryDividend |
Dec 30, 2016 | $0.028 | OrdinaryDividend |
Oct 31, 2016 | $0.013 | OrdinaryDividend |
Sep 30, 2016 | $0.013 | OrdinaryDividend |
Aug 31, 2016 | $0.012 | OrdinaryDividend |
Jul 29, 2016 | $0.013 | OrdinaryDividend |
MZLSX - Fund Manager Analysis
Managers
Tatjana Greil-Castro
Start Date
Tenure
Tenure Rank
Jun 29, 2016
5.92
5.9%
Tatjana Greil-Castro joined Muzinich in 2007. Tatjana is a Portfolio Manager with 18 years of corporate credit experience. Prior to joining Muzinich, Tatjana worked for Metlife Investments, where she served as an Associate Director of the High Return Unit. Earlier, Tatjana worked as Senior Portfolio Manager in European high yield for Fortis Investments and as a portfolio manager and credit analyst at Legal & General Investment Management. She started her career as a high yield telecom analyst with Merrill Lynch in 1999. She has a Ph.D. from the London School of Economics & Political Science, a Masters from the Kiel Institute of World Economics in Germany, and an M.Sc./B.S. in Economics from the University of Vienna.
Ian Horn
Start Date
Tenure
Tenure Rank
Apr 30, 2020
2.08
2.1%
Ian Horn joined Muzinich in 2013. Ian is a Portfolio Manager on Muzinich’s Investment Grade strategies with seven years of corporate credit experience. Ian also has credit analysis responsibilities within the utilities, real estate and transportation industries. Prior to joining Muzinich, Ian spent 2 years at the Royal Bank of Canada in their Wealth Management division, and previously worked at Lazard and JP Morgan. Ian earned a Masters in Engineering from the University of Oxford, where he received academic awards including a scholarship from the Institution of Mechanical Engineers. Ian holds the Chartered Financial Analyst designation.
Joseph Galzerano
Start Date
Tenure
Tenure Rank
May 01, 2021
1.08
1.1%
Joseph joined Muzinich in 2010. He is a Portfolio Manager focusing on U.S. high yield. Prior to joining Muzinich, Joseph worked at Babson Capital Management where he was Managing Director and Senior Investment Analyst. Previously, he held Senior Analyst positions in high yield research at CIBC World Markets and Citicorp Securities. Joseph earned a B.A., Epsilon Sigma Pi, cum laude, from Manhattan College, and an M.B.A. in Corporate Finance from Fordham University where he finished his degree with honor designations Phi Kappa Phi and Beta Gamma Sigma. He was formally credit trained at the Citicorp Global Institute of Finance and is a Certified Public Accountant.
Craig Guttenplan
Start Date
Tenure
Tenure Rank
May 01, 2021
1.08
1.1%
Craig Guttenplan joined Muzinich in 2016. Mr. Guttenplan is a Portfolio Manager, focusing on investment-grade strategies, with 16 years of corporate credit experience. He also has credit analysis responsibilities focusing on the financials industry. Prior to joining Muzinich, he was at Rogge Global Partners where he was an Analyst focusing on global financials across investment-grade and high yield. Previously, he was an Analyst at a leading independent research firm, CreditSights, where he also covered a variety of financial sectors. Mr. Guttenplan earned B.S. in Finance and International Business from New York University’s Leonard H. Stern School of Business. He also holds the Chartered Financial Analyst designation.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 28.19 | 5.72 | 3.19 |