PKPIX: PPM Core Plus Fixed Income Institutional

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PKPIX PPM Core Plus Fixed Income Institutional


Profile

PKPIX - Profile

Vitals

  • YTD Return -0.6%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $51.3 M
  • Holdings in Top 10 20.3%

52 WEEK LOW AND HIGH

$10.34
$9.72
$10.81

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.70%

SALES FEES

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

BROKERAGE FEES

  • Turnover 108.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

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

Fund Classification


Distributions

  • YTD Total Return -0.6%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.02%
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    PPM Core Plus Fixed Income Fund
  • Fund Family Name
    Ppm America
  • Inception Date
    Jul 16, 2018
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Michael Kennedy

Fund Description

The fund seeks to achieve its objective by investing under normal circumstances at least 80% of its assets (net assets plus the amount of any borrowings made for investment purposes) in a diversified portfolio of debt securities of U.S. and foreign issuers such as government, corporate, mortgage-backed securities and other asset-backed securities and cash equivalents. Its average portfolio duration will normally vary within two years (plus or minus) of the duration of the Bloomberg Barclays US Aggregate Bond Index.


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Categories

Performance

PKPIX - Performance

Return Ranking - Trailing

Period PKPIX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.6% -25.7% 196.2% 28.88%
1 Yr 1.9% -24.6% 191.4% 29.05%
3 Yr N/A* -7.9% 8.3% N/A
5 Yr N/A* -6.0% 11.4% N/A
10 Yr N/A* -5.4% 3.9% N/A

* Annualized

Return Ranking - Calendar

Period PKPIX Return Category Return Low Category Return High Rank in Category (%)
2019 5.6% -4.3% 18.3% 26.24%
2018 N/A -11.7% 4.6% N/A
2017 N/A -6.0% 8.3% N/A
2016 N/A -7.8% 8.7% N/A
2015 N/A -18.3% 3.0% N/A

Total Return Ranking - Trailing

Period PKPIX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.6% -25.7% 196.2% 28.88%
1 Yr 1.9% -24.6% 191.4% 29.01%
3 Yr N/A* -7.9% 10.4% N/A
5 Yr N/A* -6.0% 11.4% N/A
10 Yr N/A* -5.4% 6.7% N/A

* Annualized

Total Return Ranking - Calendar

Period PKPIX Return Category Return Low Category Return High Rank in Category (%)
2019 5.6% -4.3% 18.3% 27.08%
2018 N/A -11.7% 6.5% N/A
2017 N/A -6.0% 10.4% N/A
2016 N/A -7.8% 14.1% N/A
2015 N/A -12.6% 4.2% N/A

NAV & Total Return History


Holdings

PKPIX - Holdings

Concentration Analysis

PKPIX Category Low Category High PKPIX % Rank
Net Assets 51.3 M 640 K 259 B 92.31%
Number of Holdings 325 1 17723 47.31%
Net Assets in Top 10 10.4 M -216 M 24.5 B 92.10%
Weighting of Top 10 20.32% 2.4% 100.0% 51.73%

Top 10 Holdings

  1. Federal National Mortgage Association 3% 3.65%
  2. United States Treasury Notes 2.25% 2.80%
  3. United States Treasury Notes 1.62% 2.54%
  4. Government National Mortgage Association 3.5% 2.38%
  5. United States Treasury Notes 1.5% 1.69%
  6. Federal National Mortgage Association 4.5% 1.61%
  7. Federal Home Loan Mortgage Corporation 3.5% 1.57%
  8. United States Treasury Notes 2.88% 1.40%
  9. Federal Home Loan Mortgage Corporation 3.5% 1.35%
  10. United States Treasury Notes 1.88% 1.34%

Asset Allocation

Weighting Return Low Return High PKPIX % Rank
Bonds
96.90% 80.16% 159.74% 53.16%
Cash
2.00% -59.74% 19.74% 49.17%
Convertible Bonds
1.09% 0.00% 7.24% 22.16%
Stocks
0.00% -0.38% 24.73% 82.94%
Preferred Stocks
0.00% 0.00% 7.43% 84.16%
Other
0.00% -4.02% 28.26% 80.32%

Bond Sector Breakdown

Weighting Return Low Return High PKPIX % Rank
Securitized
41.06% 0.00% 98.30% 15.37%
Corporate
40.08% 0.00% 99.29% 15.84%
Government
16.86% -2.21% 122.41% 38.94%
Cash & Equivalents
2.00% -29.57% 39.95% 55.03%
Derivative
0.00% -0.83% 31.05% 84.16%
Municipal
0.00% 0.00% 100.11% 95.51%

Bond Geographic Breakdown

Weighting Return Low Return High PKPIX % Rank
US
90.28% 61.83% 156.78% 58.23%
Non US
6.62% -26.61% 26.76% 38.47%

Expenses

PKPIX - Expenses

Operational Fees

PKPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.70% 0.01% 34.57% 57.01%
Management Fee 0.40% 0.00% 1.10% 57.29%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.00% 0.50% 56.22%

Sales Fees

PKPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

PKPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

PKPIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 108.00% 0.00% 493.00% 79.21%

Distributions

PKPIX - Distributions

Dividend Yield Analysis

PKPIX Category Low Category High PKPIX % Rank
Dividend Yield 1.59% 0.00% 3.70% 0.50%

Dividend Distribution Analysis

PKPIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

PKPIX Category Low Category High PKPIX % Rank
Net Income Ratio 3.02% -0.20% 6.30% 24.40%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PKPIX - Fund Manager Analysis

Managers

Michael Kennedy


Start Date

Tenure

Tenure Rank

Jul 16, 2018

1.71

1.7%

Mike Kennedy is a senior managing director and portfolio manager on the total return fixed income team at PPM. He is responsible for investment and allocation decisions for several of the firm’s fixed income strategies, including core plus fixed income, credit, long short credit, and strategic income which are managed on behalf of institutional and retail investors globally. Prior to joining PPM in 2006, Mike was a senior vice president and portfolio manager for Columbia Management Group (formerly Stein Roe & Farnham) where he managed fixed income mutual funds and institutional client portfolios. Previously, he worked as the assistant director of portfolio management for Homewood Federal Savings & Loan. Mike earned an MM from Northwestern University and a BS in business administration from Marquette University. He is also a CFA® charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 33.35 7.41 0.25