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Name

As of 04/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Aristotle ESG Core Bond Fund

PLEBX | Fund

$8.41

$28.9 M

0.25%

$0.02

0.48%

Vitals

YTD Return

-2.3%

1 yr return

1.1%

3 Yr Avg Return

-2.8%

5 Yr Avg Return

N/A

Net Assets

$28.9 M

Holdings in Top 10

25.4%

52 WEEK LOW AND HIGH

$8.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.48%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 51.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$500,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Aristotle ESG Core Bond Fund

PLEBX | Fund

$8.41

$28.9 M

0.25%

$0.02

0.48%

PLEBX - Profile

Distributions

  • YTD Total Return -2.3%
  • 3 Yr Annualized Total Return -2.8%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.06%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Aristotle ESG Core Bond Fund
  • Fund Family Name
    Aristotle Funds Series Trust
  • Inception Date
    Dec 14, 2020
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ying Qiu

Fund Description

The Fund primarily invests in a broad range of investment-grade debt securities, including corporate bonds, mortgage-related securities, asset-backed securities, debt securities issued by the U.S. government or its related agencies and U.S. dollar-denominated debt securities issued by developed foreign governments and corporations. Under normal circumstances, the Fund may invest up to 65% of its assets in corporate bonds. The Fund may invest up to 30% of its assets in U.S. dollar-denominated debt securities of developed foreign governments and corporations.
The Fund expects to maintain a weighted average duration within two years (plus or minus) of the Bloomberg US Aggregate Bond Index. Duration is often used to measure a bond’s sensitivity to interest rates. The longer a fund’s duration, the more sensitive it is to Interest Rate Risk. The shorter a fund’s duration, the less sensitive it is to Interest Rate Risk. The duration of the Bloomberg US Aggregate Bond Index was 6.17 years as of December 31, 2022.
The sub-adviser’s investment process for the Fund is based on a combination of the sub-adviser’s fundamental research process and the sub-adviser’s ESG criteria, which involves (i) the application of the ESG exclusionary screens described below (the “ESG Exclusionary Screens”), and (ii) the sub-adviser’s analysis of ESG
metrics provided by independent third-party ESG data providers in respect of certain debt securities held by the Fund. These considerations are described below.
Individual investments may be purchased or sold in the event the sub-adviser decides to adjust debt asset class weightings within the portfolio. An investment is generally sold when the issue has realized its price appreciation target, the issue no longer offers relative value, or an adverse change in corporate or sector fundamentals has occurred. Further, the sub-adviser will re-evaluate the available ESG criteria of portfolio securities periodically to determine which securities should be considered for sale based on whether the portfolio securities continue to meet the ESG criteria.
The sub-adviser normally invests the Fund’s assets across different groups of industries/sectors but may invest a significant percentage of the Fund’s assets in issuers in a single sector. The components of the Fund are likely to change over time.
Fundamental Research Process. The sub-adviser’s fundamental research process combines a bottom-up issuer analysis and top-down market assessment. A bottom-up issuer analysis relies upon the sub-adviser’s fundamental research analysis of individual issuers. A top-down market assessment provides a framework for portfolio risk positioning and sector allocations. Once this is determined, the sub-adviser looks for companies that it believes have sustainable competitive positions, strong management teams and the ability to repay or refinance its debt obligations. The sub-adviser performs a credit analysis on each potential issuer and a relative value analysis for each potential investment. When selecting investments, the sub-adviser may invest in instruments that it believes have the potential for capital appreciation.
ESG Exclusionary Screens. Under normal circumstances, the Fund will invest at least 80% of its assets in debt securities that are permitted investments under the ESG Exclusionary Screens. The sub-adviser has created two ESG Exclusionary Screens, one of which is applicable to corporate debt issuers (the “Corporate Debt Screen”) and the other of which is applicable to government debt issuers (the “Government Debt Screen”).
The sub-adviser uses the Corporate Debt Screen to identify a universe of corporate bonds, asset-backed securities, and mortgage-related securities, the issuers of which are not directly involved in (i) the extraction of thermal coal, coal power generation, and providing tailor-made products and services that support thermal coal extraction that contribute materially to company revenue; in each case, such issuers are excluded only to the extent that such activities lead to revenue in excess of the sub-adviser’s revenue threshold (which is currently 9.99%); (ii) the production of tobacco; (iii) the production of controversial military weapons (i.e., weapons that have a disproportionate and indiscriminate impact on civilian populations, sometimes even years after a conflicts has ended); (iv) serious or systematic human rights violations; (v) severe environmental damage; (vi) gross corruption or other serious financial crime (as those terms (iv)-(vi) are determined by Norges Bank). The Fund may invest in transition bonds issued by entities that derive revenue from activities in the exclusion list. Transition bonds, also referred to as sustainable bonds, are debt instruments whose proceeds are exclusively used to finance projects aimed at helping the issuer transition to a more sustainable way of doing business. Examples of
these bonds are green bonds (used to finance projects with positive environmental impacts), blue bonds (used to raise capital for ocean conservation, marine and fisheries projects) and social bonds (used to finance social projects intended to achieve positive social outcomes and/or address a social issue). Transition bonds issued by entities that derive revenue from activities in the exclusion list above would not be excluded under the Corporate Debt Screen.
The sub-adviser uses a combination of issuer lists and ESG-specific issuer information provided by third-party ESG data sources (e.g., Morningstar Sustainalytics, and Norges Bank) to determine which issuers are permitted investments under the Corporate Debt Screen. This information is determined by the third-party ESG data providers’ internal methodologies.
The sub-adviser uses the Government Debt Screen to identify a universe of sovereign debt issued by government and sovereign issuers that have not received ESG ratings of “high risk” or “severe risk” from the third-party ESG data provider used by the sub-adviser.
In the event independent third-party ESG data is not available for an issuer, the sub-adviser may rely on its own research to determine whether a particular debt security is permitted for investment under the applicable ESG Exclusionary Screen.
Up to 20% of the Fund’s assets may be invested in cash and certain types of debt securities, including collateralized loan obligations, that are not subject to either of the ESG Exclusionary Screens or that would not be permitted investments under the ESG Exclusionary Screens.
ESG Metrics. To evaluate an issuer’s material ESG factors that help inform portfolio management decisions, the sub-adviser generally relies upon the assessments of third-party ESG data providers that score the material ESG factors of issuers to determine the issuer’s overall ESG ratings (the “Overall ESG Ratings”). The Overall ESG Ratings consider, as applicable or relevant, the following factors: environmental assessments (involving issues such as greenhouse gas emissions, resource efficiency, use of natural resources and/or waste management), social assessments (involving issues such as human capital management, labor standards, occupational health and safety records, data security and/or product quality and safety) and/or governance assessments (involving issues such as board structure and quality, executive compensation, anti-competitive practices, ownership, shareholder rights, and/or geopolitical risk). When determining an issuer’s Overall ESG Ratings, the providers rate the material ESG factors of each issuer within the providers’ universe and then apply weights to each factor’s score to create an aggregate score. The sub-adviser relies upon this Overall ESG Ratings when constructing and maintaining the portfolio. In the event that third-party ESG metrics are not available for an issuer considered for investment, the sub-adviser may rely on its own qualitative research.
The Fund seeks to invest in corporate debt securities with a lower average carbon intensity than the average carbon intensity of the corporate debt securities within the Bloomberg US Aggregate Bond Index (the Fund’s benchmark index) for which this data is available using the carbon intensity definition and calculation methodology of an independent third-party ESG data provider.
Read More

PLEBX - Performance

Return Ranking - Trailing

Period PLEBX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.3% -12.6% 2.8% 27.38%
1 Yr 1.1% -10.7% 10.2% 20.20%
3 Yr -2.8%* -11.1% 24.6% 15.62%
5 Yr N/A* -7.0% 190.4% N/A
10 Yr N/A* -2.6% 73.3% N/A

* Annualized

Return Ranking - Calendar

Period PLEBX Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -16.2% 8.1% 4.68%
2022 -14.1% -34.7% 131.9% 10.78%
2021 N/A -11.6% 4.4% N/A
2020 N/A -10.1% 946.1% N/A
2019 N/A -1.7% 16.9% N/A

Total Return Ranking - Trailing

Period PLEBX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.3% -12.6% 2.8% 27.38%
1 Yr 1.1% -10.7% 10.2% 20.20%
3 Yr -2.8%* -11.1% 24.6% 15.62%
5 Yr N/A* -7.0% 190.4% N/A
10 Yr N/A* -2.6% 73.3% N/A

* Annualized

Total Return Ranking - Calendar

Period PLEBX Return Category Return Low Category Return High Rank in Category (%)
2023 6.8% -11.3% 11.0% 22.51%
2022 -12.5% -32.2% 131.9% 16.58%
2021 N/A -9.4% 9.2% N/A
2020 N/A -1.9% 1009.0% N/A
2019 N/A 1.1% 21668.0% N/A

NAV & Total Return History

PLEBX - Holdings

Concentration Analysis

PLEBX Category Low Category High PLEBX % Rank
Net Assets 28.9 M 2.9 M 314 B 97.06%
Number of Holdings 114 1 17889 93.22%
Net Assets in Top 10 7.35 M -106 M 36.5 B 97.25%
Weighting of Top 10 25.42% 4.4% 134.1% 45.50%

Top 10 Holdings

  1. United States Treasury Note/Bond 4.82%
  2. US BANK MMDA - USBGFS 9 3.78%
  3. United States Treasury Note/Bond 3.56%
  4. United States Treasury Note/Bond 2.84%
  5. United States Treasury Note/Bond 2.07%
  6. Marsh McLennan Cos Inc 1.82%
  7. United States Treasury Note/Bond 1.66%
  8. United States Treasury Note/Bond 1.66%
  9. Goldman Sachs Group Inc/The 1.64%
  10. Cooperatieve Rabobank UA 1.58%

Asset Allocation

Weighting Return Low Return High PLEBX % Rank
Bonds 		86.12% 0.00% 215.98% 79.98%
Other 		8.45% -13.23% 50.66% 28.02%
Cash 		4.69% -54.51% 79.52% 32.94%
Convertible Bonds 		0.93% 0.00% 7.93% 69.80%
Preferred Stocks 		0.74% 0.00% 74.68% 6.10%
Stocks 		0.00% 0.00% 99.93% 89.60%

Bond Sector Breakdown

Weighting Return Low Return High PLEBX % Rank
Corporate 		56.62% 0.00% 100.00% 4.55%
Securitized 		21.04% 0.00% 98.40% 80.00%
Government 		16.90% 0.00% 86.23% 70.10%
Cash & Equivalents 		3.78% 0.00% 76.23% 38.64%
Derivative 		0.00% -3.37% 50.66% 76.01%
Municipal 		0.00% 0.00% 100.00% 95.35%

Bond Geographic Breakdown

Weighting Return Low Return High PLEBX % Rank
US 		86.12% 0.00% 215.98% 74.93%
Non US 		0.00% 0.00% 39.04% 90.46%

PLEBX - Expenses

Operational Fees

PLEBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.48% 0.01% 39.10% 75.52%
Management Fee 0.48% 0.00% 1.76% 85.90%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

PLEBX 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

PLEBX 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.

PLEBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 51.00% 2.00% 493.39% 20.21%

PLEBX - Distributions

Dividend Yield Analysis

PLEBX Category Low Category High PLEBX % Rank
Dividend Yield 0.25% 0.00% 10.26% 80.37%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PLEBX Category Low Category High PLEBX % Rank
Net Income Ratio 1.06% -1.28% 4.79% 86.25%

Capital Gain Distribution Analysis

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

Distributions History

View More +

PLEBX - Fund Manager Analysis

Managers

Ying Qiu

Start Date

Tenure

Tenure Rank

Dec 14, 2020

1.46

1.5%

Ms. Qiu is a managing director and portfolio manager of Pacific Asset Management since 2016. Ms. Qiu is a co-portfolio manager on various investment grade portfolios and has credit research responsibilities focusing on asset-backed securities ("ABS") and airlines sectors. Prior to joining Pacific Asset Management, Ms. Qiu was a senior vice president, portfolio manager and trader for both investment grade corporate and ABS with PIMCO since 2008. Ms. Qiu began her investment career in 1997 and has a BA from Renmin University of China and an MBA from the Emory University.

David Weismiller

Start Date

Tenure

Tenure Rank

Dec 14, 2020

1.46

1.5%

Mr. Weismiller is managing director and portfolio manager of Pacific Asset Management since 2007. Mr. Weismiller is the co-portfolio manager on Pacific Asset Management’s core plus and investment grade bond strategies. Joined Pacific Life in June 2002 and was a former member of Pacific Life’s credit research team and was responsible for fixed income and leveraged loan credit analysis. Prior to joining Pacific Life, Mr. Weismiller was with Comerica Bank, where he was a Commercial Banking Officer responsible for investing in a portfolio of leveraged loans. He has a BA from the University of California, Santa Barbara and an MBA from the University of California, Irvine.He began his investment career in 1997 .

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.81 1.16

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