PBXIX: Rational/Pier 88 Convertible Securities Fund - MutualFunds.com

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Rational/Pier 88 Convertible Secs Instl

PBXIX - Snapshot

Vitals

  • YTD Return N/A
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $65.8 M
  • Holdings in Top 10 37.3%

52 WEEK LOW AND HIGH

$11.43
$8.03
$11.46

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

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style Convertibles

Compare PBXIX to Popular Convertible Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$78.38

-0.04%

$6.00 B

2.14%

$1.68

41.86%

-

$30.09

+0.27%

$4.51 B

1.00%

$0.30

38.98%

-

$42.97

-0.16%

$2.45 B

1.27%

$0.55

44.73%

-

$29.72

0.00%

$2.29 B

1.61%

$0.48

33.87%

-

$41.07

-0.07%

$1.96 B

1.75%

$0.72

31.59%

-

PBXIX - Profile

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 0.8%
  • 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
    Sean Aurigemma

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.


PBXIX - Performance

Return Ranking - Trailing

Period PBXIX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -7.4% 53.5% N/A
1 Yr N/A -2.4% 43.8% N/A
3 Yr N/A* 1.4% 18.9% N/A
5 Yr N/A* 5.0% 16.0% N/A
10 Yr N/A* 5.5% 12.2% N/A

* Annualized

Return Ranking - Calendar

Period PBXIX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A 4.5% 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 0.4% 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 -7.4% 53.5% N/A
1 Yr N/A -2.4% 43.8% N/A
3 Yr N/A* 1.4% 18.9% N/A
5 Yr N/A* 4.6% 16.0% N/A
10 Yr N/A* 5.4% 12.2% N/A

* Annualized

Total Return Ranking - Calendar

Period PBXIX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A 4.5% 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 0.4% 16.5% N/A
2015 N/A -26.1% 4.9% N/A

NAV & Total Return History


PBXIX - Holdings

Concentration Analysis

PBXIX Category Low Category High PBXIX % Rank
Net Assets 65.8 M 46.5 M 5.17 B 97.67%
Number of Holdings 49 47 383 95.35%
Net Assets in Top 10 22.9 M 6.83 M 1.05 B 93.02%
Weighting of Top 10 37.34% 10.3% 76.9% 9.30%

Top 10 Holdings

  1. First American Government Obligs U 5.73%
  2. Bank of America Corp 7 1/4 % Non-Cum Perp Conv Pfd Shs Series -L- 4.52%
  3. Anthem Inc 2.75% 4.50%
  4. Crown Castle International Corp Cum Conv Pfd Registered Shs Series -A- 4.36%
  5. Novellus Sys Inc 2.62% 3.80%
  6. Boston Scientific Corp PRF PERPETUAL USD 100 - Ser A 3.74%
  7. Micron Technology Inc. 3.12% 3.61%
  8. Dominion Energy Inc Series A 3.60%
  9. Wells Fargo & Co 7 1/2 % Non Cum Perp Conv Pfd Shs -A- Series -L- 3.57%
  10. Broadcom Inc Broadcom Inc 8 % Mandatory Convertible Preferred Stock Ser A 3.46%

Asset Allocation

Weighting Return Low Return High PBXIX % Rank
Convertible Bonds
55.43% 3.48% 106.04% 94.19%
Preferred Stocks
21.19% 0.00% 20.83% 3.49%
Stocks
18.34% 0.00% 30.60% 5.81%
Cash
5.04% -0.09% 10.13% 16.28%
Other
0.00% -13.30% 7.56% 81.40%
Bonds
0.00% -16.71% 54.99% 75.58%

Stock Sector Breakdown

Weighting Return Low Return High PBXIX % Rank
Utilities
74.58% 0.00% 100.00% 34.62%
Industrials
15.64% 0.00% 100.00% 38.46%
Healthcare
9.78% 0.00% 31.14% 46.15%
Technology
0.00% 0.00% 27.35% 83.33%
Real Estate
0.00% 0.00% 22.49% 5.13%
Financial Services
0.00% 0.00% 96.48% 75.64%
Energy
0.00% 0.00% 27.87% 79.49%
Communication Services
0.00% 0.00% 23.35% 79.49%
Consumer Defense
0.00% 0.00% 8.13% 73.08%
Consumer Cyclical
0.00% 0.00% 100.00% 75.64%
Basic Materials
0.00% 0.00% 15.87% 75.64%

Stock Geographic Breakdown

Weighting Return Low Return High PBXIX % Rank
US
18.34% 0.00% 30.38% 5.81%
Non US
0.00% 0.00% 4.05% 81.40%

PBXIX - Expenses

Operational Fees

PBXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 7.22% 0.20% 8.22% 3.53%
Management Fee 0.85% 0.20% 1.42% 90.59%
12b-1 Fee 0.00% 0.00% 1.00% 13.21%
Administrative Fee N/A 0.04% 0.15% N/A

Sales Fees

PBXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 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% 161.00% 3.49%

PBXIX - Distributions

Dividend Yield Analysis

PBXIX Category Low Category High PBXIX % Rank
Dividend Yield 0.83% 0.00% 1.94% 4.65%

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% -0.63% 9.48% 5.88%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

PBXIX - Fund Manager Analysis

Managers

Sean Aurigemma


Start Date

Tenure

Tenure Rank

Dec 06, 2019

0.9

0.9%

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.

Frank Timons


Start Date

Tenure

Tenure Rank

Dec 06, 2019

0.9

0.9%

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

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.39 9.94 5.84
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