City National Rochdale Interm Fxd Inc N
Name
As of 05/25/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.2%
1 yr return
-2.6%
3 Yr Avg Return
-4.4%
5 Yr Avg Return
-1.4%
Net Assets
$74.5 M
Holdings in Top 10
48.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.22%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 74.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/25/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
RIMCX - Profile
Distributions
- YTD Total Return 1.2%
- 3 Yr Annualized Total Return -4.4%
- 5 Yr Annualized Total Return -1.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.15%
- Dividend Yield 1.1%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameCity National Rochdale Intermediate Fixed Income Fund
-
Fund Family NameCity National Rochdale
-
Inception DateDec 31, 1999
-
Shares Outstanding2937096
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUnited States
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ManagerDavid Krouth
Fund Description
Under normal conditions, the Intermediate Fixed Income Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in fixed income securities. The Fund’s investments in fixed income securities consist primarily of fixed rate and variable rate corporate debt obligations, debt obligations of the U.S. Government and its agencies, municipal securities, bank obligations, commercial paper, repurchase agreements and Eurodollar obligations. In investing its assets, the Fund seeks to purchase debt obligations of corporate and government issuers that provide an attractive rate of current income or provide for an attractive return based on the maturity, duration, and credit quality of the issuer relative to comparable issuers included in the Bloomberg Intermediate U.S. Government/Credit Bond Index. The Fund also invests in bank loans and agency and non-agency mortgage-backed securities and asset-backed securities.
Under normal market conditions, the Fund’s assets will principally be invested in investment grade fixed-income securities (i.e., obligations rated BBB- or better by Standard & Poor’s Ratings Services (“Standard & Poor’s”) or Baa3 or better by Moody’s Investors Service, Inc. (“Moody’s”), or if unrated, determined by the Fund’s investment adviser, City National Rochdale, LLC (the “Adviser”), to be of equal quality). The Fund may also invest a portion of its assets in fixed-income securities rated below investment grade (commonly known as “junk” bonds). Although the Adviser considers credit ratings in selecting investments for the Fund, the Adviser bases its investment decision for a particular instrument primarily on its own credit analysis and not on a credit rating by a nationally recognized statistical rating organization. The Adviser considers, among other things, the issuer’s financial resources and operating history, its sensitivity to economic conditions and trends, its debt maturity schedules and borrowing requirements, and relative values based on anticipated cash flow, interest and asset coverage. The Adviser expects that the average credit quality of the Fund will be BBB or higher.
The Fund seeks to have an average portfolio maturity and duration between three and ten years, as such debt obligations generally pay a higher rate of current income than shorter maturity debt obligations. The Adviser expects the Fund to maintain a dollar-weighted average maturity and average duration similar to those of the Bloomberg Intermediate U.S. Government/Credit Bond Index (which are 4.08% and 4.05%) respectively, as of December 31, 2021, but may position the Fund’s portfolio to be longer or shorter based on the Adviser’s outlook with respect to interest rates.
The Fund may continue to own a security as long as the dividend or interest yields satisfy the Fund’s goals, the credit quality meets the Adviser’s fundamental criteria and the Adviser believes the valuation is attractive and industry trends remain favorable. Generally, in determining whether to sell a security, the Adviser uses the same type of analysis that it uses when buying securities to determine whether the security continues to be a desirable investment for the Fund, including consideration of the security’s current credit quality. The Adviser may also sell a security to reduce the Fund’s holding in that security, to take advantage of what the it believes are more attractive investment opportunities or to raise cash.
RIMCX - Performance
Return Ranking - Trailing
Period | RIMCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.2% | -50.1% | 6.9% | 76.76% |
1 Yr | -2.6% | -25.4% | 139.4% | 4.27% |
3 Yr | -4.4%* | -13.0% | 100.8% | 17.49% |
5 Yr | -1.4%* | -10.0% | 55.1% | 20.31% |
10 Yr | -1.2%* | -7.4% | 12.3% | 20.59% |
* Annualized
Return Ranking - Calendar
Period | RIMCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -10.1% | -75.2% | 1360.6% | 3.87% |
2022 | -2.9% | -14.5% | 1027.9% | 94.32% |
2021 | 1.6% | -9.6% | 118.7% | 35.28% |
2020 | 1.2% | -11.4% | 5.8% | 70.69% |
2019 | -0.6% | -49.5% | 12.4% | 36.07% |
Total Return Ranking - Trailing
Period | RIMCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.2% | -50.1% | 6.9% | 77.13% |
1 Yr | -2.6% | -25.4% | 139.4% | 4.27% |
3 Yr | -4.4%* | -13.0% | 100.8% | 17.59% |
5 Yr | -1.4%* | -10.0% | 55.1% | 26.56% |
10 Yr | -1.2%* | -7.4% | 13.1% | 42.75% |
* Annualized
Total Return Ranking - Calendar
Period | RIMCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -10.1% | -75.2% | 131.9% | 3.87% |
2022 | -2.9% | -14.5% | 1027.9% | 94.32% |
2021 | 1.6% | -9.6% | 118.7% | 35.48% |
2020 | 1.2% | -11.4% | 5.8% | 72.48% |
2019 | -0.6% | -7.0% | 12.4% | 47.64% |
NAV & Total Return History
RIMCX - Holdings
Concentration Analysis
RIMCX | Category Low | Category High | RIMCX % Rank | |
---|---|---|---|---|
Net Assets | 74.5 M | 1.19 M | 287 B | 90.18% |
Number of Holdings | 86 | 1 | 17234 | 93.39% |
Net Assets in Top 10 | 37.2 M | -106 M | 27.6 B | 80.07% |
Weighting of Top 10 | 48.20% | 3.7% | 100.0% | 18.58% |
Top 10 Holdings
- United States Treasury Notes 0.125% 7.20%
- United States Treasury Notes 2.625% 6.97%
- United States Treasury Notes 0.125% 6.24%
- United States Treasury Notes 1.875% 5.69%
- NEW YORK ST URBAN DEV CORP REV 3.27% 5.41%
- United States Treasury Bills 0% 4.71%
- United States Treasury Notes 1.625% 4.67%
- United States Treasury Notes 1.62% 4.44%
- JPMorgan Chase & Co. 3.12% 4.19%
- United States Treasury Notes 1% 4.07%
Asset Allocation
Weighting | Return Low | Return High | RIMCX % Rank | |
---|---|---|---|---|
Bonds | 90.99% | 3.97% | 268.18% | 78.07% |
Convertible Bonds | 8.50% | 0.00% | 10.39% | 0.18% |
Cash | 0.28% | -181.13% | 95.99% | 73.55% |
Other | 0.23% | -13.23% | 23.06% | 3.71% |
Stocks | 0.00% | -0.98% | 24.74% | 36.82% |
Preferred Stocks | 0.00% | 0.00% | 77.13% | 40.04% |
Bond Sector Breakdown
Weighting | Return Low | Return High | RIMCX % Rank | |
---|---|---|---|---|
Corporate | 57.18% | 0.00% | 100.00% | 3.44% |
Government | 37.70% | 0.00% | 86.23% | 23.19% |
Securitized | 4.77% | 0.00% | 98.79% | 94.20% |
Cash & Equivalents | 0.34% | 0.00% | 95.99% | 95.83% |
Derivative | 0.00% | 0.00% | 25.16% | 41.12% |
Municipal | 0.00% | 0.00% | 100.00% | 76.27% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | RIMCX % Rank | |
---|---|---|---|---|
US | 85.15% | 3.63% | 210.09% | 58.33% |
Non US | 5.84% | -6.54% | 58.09% | 72.55% |
RIMCX - Expenses
Operational Fees
RIMCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.22% | 0.01% | 2.93% | 12.29% |
Management Fee | 0.40% | 0.00% | 1.76% | 61.65% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 24.38% |
Administrative Fee | N/A | 0.01% | 0.50% | 16.29% |
Sales Fees
RIMCX 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
RIMCX 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.
RIMCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 74.00% | 2.00% | 493.39% | 30.88% |
RIMCX - Distributions
Dividend Yield Analysis
RIMCX | Category Low | Category High | RIMCX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.08% | 0.00% | 12.67% | 92.09% |
Dividend Distribution Analysis
RIMCX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Monthly | Monthly |
Net Income Ratio Analysis
RIMCX | Category Low | Category High | RIMCX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.15% | -1.28% | 8.97% | 82.02% |
Capital Gain Distribution Analysis
RIMCX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 27, 2022 | $0.055 | OrdinaryDividend |
Jun 27, 2022 | $0.060 | OrdinaryDividend |
Mar 28, 2022 | $0.047 | OrdinaryDividend |
Dec 23, 2021 | $0.112 | OrdinaryDividend |
Sep 27, 2021 | $0.050 | OrdinaryDividend |
Jun 25, 2021 | $0.067 | OrdinaryDividend |
Mar 26, 2021 | $0.062 | OrdinaryDividend |
Dec 24, 2020 | $0.058 | OrdinaryDividend |
Sep 28, 2020 | $0.120 | OrdinaryDividend |
Jun 26, 2020 | $0.113 | OrdinaryDividend |
Mar 26, 2020 | $0.166 | OrdinaryDividend |
Dec 24, 2019 | $0.099 | OrdinaryDividend |
Sep 26, 2019 | $0.144 | OrdinaryDividend |
Jun 26, 2019 | $0.144 | OrdinaryDividend |
Mar 26, 2019 | $0.163 | OrdinaryDividend |
Dec 24, 2018 | $0.140 | OrdinaryDividend |
Sep 25, 2018 | $0.138 | OrdinaryDividend |
Jun 26, 2018 | $0.134 | OrdinaryDividend |
Mar 26, 2018 | $0.174 | OrdinaryDividend |
Dec 26, 2017 | $0.086 | OrdinaryDividend |
Sep 25, 2017 | $0.119 | OrdinaryDividend |
Jun 26, 2017 | $0.123 | OrdinaryDividend |
Mar 27, 2017 | $0.131 | OrdinaryDividend |
Dec 27, 2016 | $0.140 | OrdinaryDividend |
Sep 27, 2016 | $0.127 | OrdinaryDividend |
Jun 27, 2016 | $0.120 | OrdinaryDividend |
Mar 28, 2016 | $0.121 | OrdinaryDividend |
Dec 29, 2015 | $0.143 | OrdinaryDividend |
Sep 28, 2015 | $0.120 | OrdinaryDividend |
Jun 26, 2015 | $0.116 | OrdinaryDividend |
Mar 27, 2015 | $0.109 | OrdinaryDividend |
Dec 29, 2014 | $0.125 | OrdinaryDividend |
Sep 26, 2014 | $0.142 | OrdinaryDividend |
Jun 26, 2014 | $0.132 | OrdinaryDividend |
Mar 27, 2014 | $0.135 | OrdinaryDividend |
Dec 27, 2013 | $0.016 | OrdinaryDividend |
Dec 19, 2013 | $0.147 | OrdinaryDividend |
Sep 26, 2013 | $0.216 | OrdinaryDividend |
Jul 01, 2013 | $0.213 | OrdinaryDividend |
RIMCX - Fund Manager Analysis
Managers
David Krouth
Start Date
Tenure
Tenure Rank
Feb 28, 2015
7.26
7.3%
David Krouth is a Portfolio Manager of City National Rochdale, LLC. Mr. Krouth has over 15 years of analytical experience in the financial industry. He is responsible for various facets of investment grade fixed income management, which include trading, research, and portfolio management. Mr. Krouth joined CNB in 2003. Mr. Krouth earned a BS in Finance from the University of Idaho. Additionally, he holds the Chartered Financial Analyst designation and is a member of the CFA Institute.
Charles Luke
Start Date
Tenure
Tenure Rank
Jun 30, 2020
1.92
1.9%
Charles Luke is a Senior Investment Director on the UK and European equities team having joined the company in 2000. Charles started his career at Framlington Investment Management in 1998, covering UK equities. Charles graduated with a BA in Economics and Japanese Studies from Leeds University and an MSc in Business and Economic History from the London School of Economics."
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 33.43 | 6.76 | 1.16 |