PBXIX: Rational/Pier 88 Convertible Secs Instl

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PBXIX Rational/Pier 88 Convertible Secs Instl


Profile

PBXIX - Profile

Vitals

  • YTD Return N/A
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $57.4 M
  • Holdings in Top 10 31.2%

52 WEEK LOW AND HIGH

$11.06
$8.03
$11.06

Expenses

OPERATING RELATED FEES

  • Expense Ratio 7.22%

SALES FEES

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

BROKERAGE FEES

  • Turnover 5.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA N/A

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 4.22%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Rational/Pier 88 Convertible Securities Fund
  • Fund Family Name
    Rational Funds
  • Inception Date
    Dec 06, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Frank Timons

Fund Description

Under normal conditions, the fund seeks to achieve its investment objective by investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in convertible securities. Convertible securities are "hybrid" securities that possess both fixed income and equity characteristics. The fund will generally invest primarily in investment-grade instruments. It is non-diversified.


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Categories

Performance

PBXIX - Performance

Return Ranking - Trailing

Period PBXIX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -30.9% 28.1% N/A
1 Yr N/A -30.4% 28.0% N/A
3 Yr N/A* -13.7% 10.7% N/A
5 Yr N/A* -8.8% 7.8% N/A
10 Yr N/A* -5.3% 6.9% N/A

* Annualized

Return Ranking - Calendar

Period PBXIX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -8.6% 24.4% N/A
2018 N/A -15.4% -2.5% N/A
2017 N/A -7.8% 15.4% N/A
2016 N/A -4.1% 14.2% N/A
2015 N/A -26.1% 2.5% N/A

Total Return Ranking - Trailing

Period PBXIX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -30.9% 28.1% N/A
1 Yr N/A -30.4% 28.0% N/A
3 Yr N/A* -10.9% 16.4% N/A
5 Yr N/A* -7.7% 13.0% N/A
10 Yr N/A* -5.3% 11.8% N/A

* Annualized

Total Return Ranking - Calendar

Period PBXIX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -8.6% 24.4% N/A
2018 N/A -15.4% 4.5% N/A
2017 N/A -1.0% 18.4% N/A
2016 N/A -4.1% 20.1% N/A
2015 N/A -26.1% 6.2% N/A

NAV & Total Return History


Holdings

PBXIX - Holdings

Concentration Analysis

PBXIX Category Low Category High PBXIX % Rank
Net Assets 57.4 M 196 K 8.78 B 87.88%
Number of Holdings 50 38 371 96.97%
Net Assets in Top 10 17.2 M -319 M 1.01 B 83.64%
Weighting of Top 10 31.21% 10.4% 87.0% 19.39%

Top 10 Holdings

Asset Allocation

Weighting Return Low Return High PBXIX % Rank
Convertible Bonds
62.16% 0.00% 108.22% 48.48%
Stocks
15.76% -5.93% 49.17% 10.91%
Preferred Stocks
11.38% 0.00% 79.55% 63.03%
Cash
10.70% -5.59% 16.87% 5.45%
Other
0.00% 0.00% 15.69% 83.03%
Bonds
0.00% -14.80% 70.12% 89.70%

Stock Sector Breakdown

Weighting Return Low Return High PBXIX % Rank
Utilities
88.46% 0.00% 100.00% 6.77%
Industrials
11.54% 0.00% 43.65% 21.80%
Technology
0.00% 0.00% 34.89% 77.44%
Real Estate
0.00% 0.00% 100.00% 73.68%
Healthcare
0.00% 0.00% 34.05% 81.20%
Financial Services
0.00% 0.00% 100.00% 76.69%
Energy
0.00% 0.00% 100.00% 71.43%
Communication Services
0.00% 0.00% 11.88% 72.93%
Consumer Defense
0.00% 0.00% 7.29% 65.41%
Consumer Cyclical
0.00% 0.00% 14.27% 63.91%
Basic Materials
0.00% 0.00% 27.11% 78.95%

Stock Geographic Breakdown

Weighting Return Low Return High PBXIX % Rank
US
15.76% -5.85% 45.15% 10.91%
Non US
0.00% -0.08% 5.67% 76.36%

Expenses

PBXIX - Expenses

Operational Fees

PBXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 7.22% 0.41% 94.07% 3.77%
Management Fee 0.85% 0.00% 1.42% 85.37%
12b-1 Fee 0.00% 0.00% 1.00% 10.53%
Administrative Fee N/A 0.01% 0.55% N/A

Sales Fees

PBXIX 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

PBXIX 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.

PBXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 5.00% 5.00% 175.00% 1.21%

Distributions

PBXIX - Distributions

Dividend Yield Analysis

PBXIX Category Low Category High PBXIX % Rank
Dividend Yield 0.00% 0.00% 6.47% 63.64%

Dividend Distribution Analysis

PBXIX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Quarterly Monthly Quarterly

Net Income Ratio Analysis

PBXIX Category Low Category High PBXIX % Rank
Net Income Ratio 4.22% -0.26% 9.30% 33.75%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PBXIX - Fund Manager Analysis

Managers

Frank Timons


Start Date

Tenure

Tenure Rank

Dec 06, 2019

0.57

0.6%

Frank Timons is the Founder, CEO and CIO of Pier 88 Investment Partners. Previously, Frank had several roles at Lord Abbett including: Portfolio Manager for the convertible strategy (2012-2013) Portfolio Manager for the large cap core and large cap value strategies(2010-2012) and Research Analyst specializing in technology companies (2007-2010). Prior to joining Lord Abbett, Frank was a Research Analyst at Robert Baird & Co and Senior Strategist at Sun Microsystems (2001-2004) focusing on venture and capital investments. Frank holds a B.A. and J.D. from the University of Notre Dame

Sean Aurigemma


Start Date

Tenure

Tenure Rank

Dec 06, 2019

0.57

0.6%

Sean Aurigemma is a Partner and Portfolio Manager working on the Small Cap Growth and Convertible Bond Strategy at Pier 88 Investment Partners. Mr Aurigemma is an established financial services industry veteran with over 25 years of direct investment experience. Previously he was the Lead Portfolio Manager for Larve Cap Value and Value Equity Strategies at Lord Abbett & Co wth $5 B in assets under management. Earlier he served as Managing Director at Morgan Stanley Investment Management and Lead Portfolio Manager for Morgan Stanley's Dividend Growth Portfolio in addition to it's Financial Services Trust Portfolio. Earlier in his career Mr Aurigemma was a Research Analyst at Deutsche Bank Alex Brown and an Investment Analyst at both Prudential Securities and Kidder Peabody & co. Mr Aurigemma earned a BA in History with High Honors from the University of Notre Dame.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 35.05 9.14 9.5