PMFQX: PMC Core Fixed Income Fund

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PMFQX PMC Core Fixed Income Fund


Profile

PMFQX - Profile

Vitals

  • YTD Return 7.6%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $406 M
  • Holdings in Top 10 16.1%

52 WEEK LOW AND HIGH

$18.46
$16.26
$18.62

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.75%

SALES FEES

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

BROKERAGE FEES

  • Turnover 144.30%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

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

Fund Classification


Distributions

  • YTD Total Return 7.6%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.33%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    PMC Core Fixed Income Fund
  • Fund Family Name
    PMC Funds
  • Inception Date
    Jul 01, 2019
  • Shares Outstanding
    15397078
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Brandon Thomas

Fund Description

The fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in fixed income securities that are rated investment grade or better. It may invest up to 20% of its net assets in high-yield debt securities that are rated BB+ or lower by a NRSRO, or, if unrated, securities deemed by the Adviser or sub-adviser to be of comparable quality. The fund may invest up to 20% of its net assets in fixed income securities issued by foreign corporations and foreign governments.


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Categories

Performance

PMFQX - Performance

Return Ranking - Trailing

Period PMFQX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.6% -11.2% 328.8% 15.90%
1 Yr 5.4% -9.0% 322.7% 31.03%
3 Yr N/A* -7.2% 63.2% 20.62%
5 Yr N/A* -5.9% 34.0% 23.81%
10 Yr N/A* -4.8% 15.7% 25.81%

* Annualized

Return Ranking - Calendar

Period PMFQX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -1.3% 13.9% N/A
2018 N/A -10.3% 2.7% N/A
2017 N/A -2.2% 8.1% N/A
2016 N/A -22.1% 192.8% N/A
2015 N/A -12.2% -0.4% N/A

Total Return Ranking - Trailing

Period PMFQX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.6% -11.2% 328.8% 15.90%
1 Yr 5.4% -9.0% 322.7% 31.03%
3 Yr N/A* -7.2% 63.2% 36.08%
5 Yr N/A* -5.9% 34.8% 32.74%
10 Yr N/A* -4.8% 16.3% 39.52%

* Annualized

Total Return Ranking - Calendar

Period PMFQX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -1.2% 13.9% N/A
2018 N/A -10.3% 3.9% N/A
2017 N/A -2.2% 8.4% N/A
2016 N/A -22.1% 204.3% N/A
2015 N/A -12.2% 3.7% N/A

NAV & Total Return History


Holdings

PMFQX - Holdings

Concentration Analysis

PMFQX Category Low Category High PMFQX % Rank
Net Assets 406 M 3.16 M 288 B 63.26%
Number of Holdings 823 10 18180 43.33%
Net Assets in Top 10 64.1 M -1.2 B 39.4 B 66.74%
Weighting of Top 10 16.09% 7.5% 100.0% 79.86%

Top 10 Holdings

  1. 2 Year Treasury Note Future Sept 20 2.55%
  2. 5 Year Treasury Note Future Sept 20 2.43%
  3. United States Treasury Notes 1.38% 2.30%
  4. Federal National Mortgage Association 2.5% 1.94%
  5. First American Government Obligs X 1.75%
  6. Federal National Mortgage Association 3% 1.31%
  7. United States Treasury Notes 1.63% 1.09%
  8. United States Treasury Notes 0.75% 1.07%
  9. US Treasury Bond Future Sept 20 0.94%
  10. Federal National Mortgage Association 3% 0.72%

Asset Allocation

Weighting Return Low Return High PMFQX % Rank
Bonds
100.05% -67.87% 231.56% 9.11%
Convertible Bonds
4.38% 0.00% 4.38% 0.23%
Stocks
0.23% 0.00% 12.20% 3.74%
Preferred Stocks
0.00% 0.00% 79.92% 55.97%
Other
0.00% -7.84% 7.38% 45.67%
Cash
-4.65% -137.69% 173.81% 91.10%

Stock Sector Breakdown

Weighting Return Low Return High PMFQX % Rank
Energy
38.64% 0.00% 100.00% 26.36%
Consumer Cyclical
38.64% 0.00% 100.00% 16.36%
Industrials
11.36% 0.00% 90.91% 10.00%
Healthcare
11.36% 0.00% 80.00% 24.55%
Utilities
0.00% 0.00% 100.00% 50.91%
Technology
0.00% 0.00% 81.99% 48.18%
Real Estate
0.00% 0.00% 50.12% 35.45%
Financial Services
0.00% 0.00% 100.00% 49.09%
Communication Services
0.00% 0.00% 93.15% 51.82%
Consumer Defense
0.00% 0.00% 9.73% 35.45%
Basic Materials
0.00% 0.00% 100.00% 41.82%

Stock Geographic Breakdown

Weighting Return Low Return High PMFQX % Rank
US
0.23% 0.00% 9.09% 3.75%
Non US
0.00% 0.00% 4.39% 42.15%

Bond Sector Breakdown

Weighting Return Low Return High PMFQX % Rank
Corporate
43.53% 0.00% 84.33% 29.51%
Securitized
32.64% 0.00% 89.23% 33.49%
Government
21.03% 0.00% 84.96% 47.31%
Cash & Equivalents
1.92% 0.00% 60.23% 84.78%
Municipal
0.89% 0.00% 27.42% 34.66%
Derivative
0.00% -0.83% 26.28% 63.93%

Bond Geographic Breakdown

Weighting Return Low Return High PMFQX % Rank
US
85.34% -68.10% 239.68% 39.34%
Non US
14.71% -140.55% 78.28% 32.32%

Expenses

PMFQX - Expenses

Operational Fees

PMFQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.75% 0.01% 18.96% 58.70%
Management Fee 0.80% 0.00% 1.00% 99.06%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

PMFQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 4.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PMFQX 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.

PMFQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 144.30% 3.00% 449.00% 58.40%

Distributions

PMFQX - Distributions

Dividend Yield Analysis

PMFQX Category Low Category High PMFQX % Rank
Dividend Yield 0.00% 0.00% 3.41% 41.40%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PMFQX Category Low Category High PMFQX % Rank
Net Income Ratio 2.33% 0.45% 11.28% 68.77%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PMFQX - Fund Manager Analysis

Managers

Brandon Thomas


Start Date

Tenure

Tenure Rank

May 06, 2010

10.33

10.3%

As a Co-Founder and Chief Investment Officer of Envestnet, Mr. Thomas is responsible for the development of the firm's investment policy and leads the firm’s Quantitative Research Group (QRG). Mr. Thomas co-chairs the firm’s Investment Committee. Mr. Thomas received an AB in Economics from Brown University, an MBA in Finance and Accounting from the University of Chicago, and a JD from DePaul University.

Neil Sutherland


Start Date

Tenure

Tenure Rank

Dec 31, 2014

5.67

5.7%

Neil Sutherland is an Investment Manager at Schroders, Neil Sutherland is a Fixed Income portfolio manager and a member of the team responsible for managing all Multi-Sector portfolios including the Value portfolios. •Neil is the lead portfolio manager for US Core Plus portfolios, which includes Schroder Total Return Fixed Income Fund and Schroder ISF USD Bond. •. He joined Schroders in 2013 and is based in New York. Neil was a Principal, Investment Manger at STW Fixed Income Management from 2008 to 2013, Neil joined Schroders in 2013 following the acquisition of STW Fixed Income Management, where he had worked since 2008. At STW, Neil was Principal, Portfolio Manager and a member of the team responsible for managing $11 billion. He was a Senior Fixed Income Manger at AXA investment Managers from 2001 to 2008, which involved here he was the Senior Fixed Income Manager responsible for Credit and Absolute Return strategies. He was a Portfolio Manager at Newton investment Management from 1997 to 2001, which involved Portfolio manager for the Newton Investment Group’s Global Fixed Income team, where he managed a broad range of multicurrency global fixed income portfolios. Qualifications: CFA Charterholder; MA in Politics and Economics from University of Dublin, Trinity College.

Lisa Hornby


Start Date

Tenure

Tenure Rank

Feb 15, 2018

2.54

2.5%

Lisa Hornby is a Portfolio Manager at Schroders, on the US Multi-Sector Fixed Income team. She is involved in managing the following strategies: Short Duration, Core, Core Plus, Long Duration / LDI, as well as Tax-Sensitive. In her role, she focuses on asset selection and allocation across the various fixed income sectors, with a specialty in macro strategies. She joined Schroders in 2010 and is based in New York. Lisa was an Analyst at Barclays Capital from 2007 to 2010, in the Department of Finance. There she was responsible for the accounting, valuation and reporting of various Fixed Income products, primarily within the credit space. Lisa is a frequent contributor to various financial publications, including the Wall Street Journal and Investor's Business Daily, She is also a frequent guest on Bloomberg Television Qualifications: Series 3; CFA Charterholder; BA in Economics with Honors from Rutgers University.

Thanos Bardas


Start Date

Tenure

Tenure Rank

Jul 01, 2019

1.17

1.2%

Thanos Bardas, PhD, Managing Director, joined the firm in 1998. Thanos is the Head of Global Rates and serves as a Senior Portfolio Manager on Global Investment Grade and Multi-Sector Fixed income strategies. He sits on the firm’s Asset Allocation Committee and Fixed Income’s Investment Strategy Committee, and is a member of the Fixed Income Multi-Sector Group. Thanos also leads the Global Rates team in determining rates exposure across various portfolio strategies and oversees both inflation and LDI investments. Thanos graduated with honors from Aristotle University, Greece, earned his MS from the University of Crete, Greece, and holdsa PhD in Theoretical Physics from State University of New York at Stony Brook. He holds FINRA Series 7 and Series 66 licenses.

Thomas Sontag


Start Date

Tenure

Tenure Rank

Jul 01, 2019

1.17

1.2%

Thomas A. Sontag, Managing Director, joined the firm in 2004. Tom is the Head of Global Securitized & Structured Products and serves as a co-portfolio manager and Senior Portfolio Manager on multiple fixed income strategies. He is a member of the senior investment team that sets overall portfolio strategy for Global Investment Grade. Tom also leads the Global Securitized team in determining exposure across various portfolio strategies. Prior to joining the firm, Tom served as a portfolio manager with Strong Capital Management for six years. His responsibilities included co-managing five mutual funds as well as separate institutional accounts. Previously, Tom worked in the Fixed Income divisions of Bear Stearns (1986 to 1998 as a managing director) and Goldman Sachs (1982 to 1985). Tom earned a BBA and an MBA from the University of Wisconsin.

David Brown


Start Date

Tenure

Tenure Rank

Jul 01, 2019

1.17

1.2%

David M. Brown, CFA, Managing Director, rejoined the firm in 2003. Dave is Global Co-Head of Investment Grade and acts as Senior Portfolio Manager on both Global Investment Grade and Multi-Sector Fixed Income strategies. He is a member of the Fixed Income Investment Strategy Committee and the Fixed Income Multi-Sector Group. Dave also leads the Investment Grade Credit team in determining credit exposures across both Global Investment Grade and Multi-Sector Fixed Income strategies. Dave initially joined the firm in 1991 after graduating from the University of Notre Dame with a BA in Government and subsequently received his MBA in Finance from Northwestern University. Prior to his return, he was a senior credit analyst at Zurich Scudder Investments and later a credit analyst and portfolio manager at Deerfield Capital. Dave has been awarded the Chartered Financial Analyst designation.

Nathan Kush


Start Date

Tenure

Tenure Rank

Jul 01, 2019

1.17

1.2%

Nathan Kush is a Managing Director of Neuberger Berman Investment Advisers LLC. He joined the firm in 2001. He is a member of the portfolio management team for the firm’s Global Investment Grade strategies. Additionally, he is involved in investment grade credit research and, previously, covered the banking, brokerage, finance, insurance and REIT sectors. Before joining the investment grade team, he spent three years in Debt Capital Markets in the Investment Banking Division of Lehman Brothers. Nathan earned a BS in Finance and Accounting from Tulane University and an MBA from the University of Chicago.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 31.68 6.57 4.46