Alternative Credit Income Fund - Alternative Credit Income Fund USD Cls I
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$9.64
-
0.00%
2.59%
Vitals
YTD Return
-0.5%
1 yr return
4.3%
3 Yr Avg Return
2.1%
5 Yr Avg Return
3.3%
Net Assets
$N/A
Holdings in Top 10
44.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.59%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 49.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,000
Fund Classification
Fund Type
Closed-end mutual fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$9.64
-
0.00%
2.59%
RCIIX - Profile
Distributions
- YTD Total Return -0.5%
- 3 Yr Annualized Total Return 2.1%
- 5 Yr Annualized Total Return 3.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 7.12%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameAlternative Credit Income Fund - Alternative Credit Income Fund USD Cls I
-
Fund Family NameResource Real Estate
-
Inception DateApr 17, 2015
-
Shares Outstanding9717820
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerMichael Terwilliger
Fund Description
RCIIX - Performance
Return Ranking - Trailing
Period | RCIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.5% | -6.5% | 5.7% | 94.13% |
1 Yr | 4.3% | -9.3% | 24.0% | 84.54% |
3 Yr | 2.1%* | -16.7% | 18.1% | 18.05% |
5 Yr | 3.3%* | -13.0% | 15.2% | 17.82% |
10 Yr | N/A* | -13.4% | 6.7% | N/A |
* Annualized
Return Ranking - Calendar
Period | RCIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -2.4% | -12.0% | 15.7% | 93.83% |
2022 | -9.7% | -31.8% | 18.4% | 30.85% |
2021 | 6.2% | -26.6% | 25.7% | 1.31% |
2020 | -4.3% | -49.2% | 18.7% | 88.52% |
2019 | 4.5% | -35.1% | 15.3% | 51.43% |
Total Return Ranking - Trailing
Period | RCIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.5% | -6.5% | 5.7% | 94.13% |
1 Yr | 4.3% | -9.3% | 24.0% | 84.54% |
3 Yr | 2.1%* | -16.7% | 18.1% | 18.05% |
5 Yr | 3.3%* | -13.0% | 15.2% | 17.82% |
10 Yr | N/A* | -13.4% | 6.7% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | RCIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.2% | -7.0% | 22.2% | 91.05% |
2022 | -3.3% | -31.8% | 21.1% | 17.72% |
2021 | 13.3% | -13.5% | 49.9% | 1.96% |
2020 | 3.1% | -28.6% | 24.1% | 71.38% |
2019 | 8.1% | -4.8% | 19.1% | 57.52% |
NAV & Total Return History
RCIIX - Holdings
Concentration Analysis
RCIIX | Category Low | Category High | RCIIX % Rank | |
---|---|---|---|---|
Net Assets | N/A | 2.32 M | 127 B | N/A |
Number of Holdings | 79 | 2 | 10577 | 86.04% |
Net Assets in Top 10 | 115 M | -1.57 B | 65.8 B | 56.60% |
Weighting of Top 10 | 44.01% | 0.7% | 170.6% | 25.62% |
Top 10 Holdings
- Blackrock Global Credit Opportunities Fund, Lp 8.10%
- Blackrock Global Credit Opportunities Fund, Lp 8.10%
- Blackrock Global Credit Opportunities Fund, Lp 8.10%
- Blackrock Global Credit Opportunities Fund, Lp 8.10%
- Blackrock Global Credit Opportunities Fund, Lp 8.10%
- Blackrock Global Credit Opportunities Fund, Lp 8.10%
- Blackrock Global Credit Opportunities Fund, Lp 8.10%
- Blackrock Global Credit Opportunities Fund, Lp 8.10%
- Blackrock Global Credit Opportunities Fund, Lp 8.10%
- Blackrock Global Credit Opportunities Fund, Lp 8.10%
Asset Allocation
Weighting | Return Low | Return High | RCIIX % Rank | |
---|---|---|---|---|
Bonds | 48.75% | -150.81% | 203.29% | 86.04% |
Other | 25.38% | -72.32% | 100.00% | 8.35% |
Stocks | 11.34% | -1.60% | 99.88% | 14.26% |
Cash | 8.30% | -94.66% | 258.91% | 23.07% |
Preferred Stocks | 5.07% | 0.00% | 30.46% | 2.43% |
Convertible Bonds | 1.16% | 0.00% | 33.50% | 50.93% |
Stock Sector Breakdown
Weighting | Return Low | Return High | RCIIX % Rank | |
---|---|---|---|---|
Financial Services | 89.83% | 0.00% | 100.00% | 7.87% |
Energy | 10.17% | 0.00% | 100.00% | 47.47% |
Utilities | 0.00% | 0.00% | 100.00% | 83.99% |
Technology | 0.00% | 0.00% | 28.30% | 82.87% |
Real Estate | 0.00% | 0.00% | 100.00% | 84.55% |
Industrials | 0.00% | 0.00% | 100.00% | 86.24% |
Healthcare | 0.00% | 0.00% | 18.60% | 83.15% |
Communication Services | 0.00% | 0.00% | 100.00% | 86.24% |
Consumer Defense | 0.00% | 0.00% | 99.97% | 82.58% |
Consumer Cyclical | 0.00% | 0.00% | 89.95% | 84.55% |
Basic Materials | 0.00% | 0.00% | 100.00% | 84.27% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | RCIIX % Rank | |
---|---|---|---|---|
US | 11.34% | -1.47% | 99.88% | 13.51% |
Non US | 0.00% | -0.13% | 17.73% | 78.60% |
Bond Sector Breakdown
Weighting | Return Low | Return High | RCIIX % Rank | |
---|---|---|---|---|
Corporate | 79.35% | 0.00% | 96.66% | 5.01% |
Cash & Equivalents | 13.11% | 0.00% | 88.14% | 12.79% |
Securitized | 7.54% | 0.00% | 99.65% | 70.11% |
Derivative | 0.00% | -72.32% | 37.37% | 53.42% |
Municipal | 0.00% | 0.00% | 54.26% | 83.57% |
Government | 0.00% | 0.00% | 99.43% | 96.09% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | RCIIX % Rank | |
---|---|---|---|---|
US | 27.13% | -151.11% | 203.29% | 84.37% |
Non US | 21.62% | 0.00% | 67.77% | 17.45% |
RCIIX - Expenses
Operational Fees
RCIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.59% | 0.01% | 20.67% | 10.59% |
Management Fee | 1.85% | 0.00% | 2.29% | 97.74% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
RCIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
RCIIX 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.
RCIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 49.00% | 0.00% | 632.00% | 19.78% |
RCIIX - Distributions
Dividend Yield Analysis
RCIIX | Category Low | Category High | RCIIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 18.15% | 8.87% |
Dividend Distribution Analysis
RCIIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Monthly | Quarterly |
Net Income Ratio Analysis
RCIIX | Category Low | Category High | RCIIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 7.12% | -1.55% | 11.51% | 4.01% |
Capital Gain Distribution Analysis
RCIIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 29, 2023 | $0.182 | OrdinaryDividend |
Sep 29, 2023 | $0.182 | OrdinaryDividend |
Jun 30, 2023 | $0.181 | OrdinaryDividend |
Mar 31, 2023 | $0.182 | OrdinaryDividend |
Dec 30, 2022 | $0.182 | OrdinaryDividend |
Sep 30, 2022 | $0.180 | OrdinaryDividend |
Jun 30, 2022 | $0.180 | OrdinaryDividend |
Mar 31, 2022 | $0.180 | OrdinaryDividend |
Dec 31, 2021 | $0.180 | OrdinaryDividend |
Sep 30, 2021 | $0.180 | OrdinaryDividend |
Jun 30, 2021 | $0.180 | OrdinaryDividend |
Mar 31, 2021 | $0.180 | OrdinaryDividend |
Dec 31, 2020 | $0.182 | OrdinaryDividend |
Sep 30, 2020 | $0.182 | OrdinaryDividend |
Jun 30, 2020 | $0.181 | OrdinaryDividend |
Mar 31, 2020 | $0.181 | OrdinaryDividend |
Sep 30, 2019 | $0.182 | OrdinaryDividend |
Mar 29, 2019 | $0.182 | OrdinaryDividend |
Dec 31, 2018 | $0.182 | OrdinaryDividend |
Sep 28, 2018 | $0.183 | OrdinaryDividend |
Jun 29, 2018 | $0.183 | OrdinaryDividend |
Mar 29, 2018 | $0.183 | OrdinaryDividend |
Dec 29, 2017 | $0.183 | OrdinaryDividend |
Sep 29, 2017 | $0.183 | OrdinaryDividend |
Jun 30, 2017 | $0.193 | OrdinaryDividend |
Mar 31, 2017 | $0.193 | OrdinaryDividend |
Dec 29, 2016 | $0.182 | OrdinaryDividend |
Sep 29, 2016 | $0.175 | OrdinaryDividend |
RCIIX - Fund Manager Analysis
Managers
Michael Terwilliger
Start Date
Tenure
Tenure Rank
Apr 20, 2015
7.12
7.1%
Michael Terwilliger serves as the Lead Portfolio Manager. Mr. Terwilliger has more than a decade of credit investment experience, with expertise in a range of products including high yield bonds, distressed debt, structured securities, bank loans and convertibles. From February 2012 until October 2015, Mr. Terwilliger was a Senior Credit Analyst at Shenkman Capital Management, Inc. (“Shenkman”), a prominent institutional credit manager focused on non-investment grade products. At Shenkman, he primarily managed investments in the Retail and Food & Beverage sectors, with total exposure in excess of $1.2bn. From March 2006 until November 2011, Mr. Terwilliger worked as a High Yield Research Analyst at Bank of America-Merrill Lynch (“BAML”). In 2010 and 2011, Institutional Investor recognized Mr. Terwilliger with a #2 ranking in its annual All-America Fixed-Income Research Team for his coverage of the General Manufacturing sector and a #3 ranking in 2011 for his work in the Business Services industries. Before BAML, he was part of the Distressed Debt and Special Situations effort at Friedman Billings Ramsey & Co. In the course of his career, Mr. Terwilliger has covered a wide range of industries, including Cable, Media & Entertainment, Building Products and Energy. Mr. Terwilliger holds a Bachelor of Arts degree from Northwestern University and a Master of Business Administration from the University of Virginia Darden School Of Business. He is also a CFA charter holder.
Edward Goldthorpe
Start Date
Tenure
Tenure Rank
Dec 16, 2020
1.45
1.5%
Mr. Goldthorpe is currently a Partner at BC Partners, having launched the BC Partners Credit platform in February 2017, and also serves as the CEO and Chairman of Mount Logan Capital Inc. From 2012 to 2016, Mr. Goldthorpe worked at Apollo Investment Corporation, serving as the company’s President and the Chief Investment Officer of Apollo Investment Management where he was the head of its US Opportunistic Platform and also oversaw the Private Origination business. Prior to Apollo, he worked at Goldman Sachs for 13 years where he most recently ran the bank loan distressed investing desk, and before that, he worked at Principal Capital Investing for the Special Situations Group. Mr. Goldthorpe holds a Bachelor of Commerce from Queen’s University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 28.19 | 5.72 | 3.19 |