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RMRGX Highland Resolute I

  • Fund
  • RMRGX
  • Price as of: Jun 05, 2019
  • $10.04 + $0.01 + 0.10%
  • Category
  • Diversified Portfolio

RMRGX - Profile

Vitals

  • YTD Return 4.5%
  • 3 Yr Annualized Return -2.3%
  • 5 Yr Annualized Return -2.5%
  • Net Assets $332 M
  • Holdings in Top 10 138.3%

52 WEEK LOW AND HIGH

$10.04
$9.57
$10.93

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.94%

SALES FEES

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

BROKERAGE FEES

  • Turnover 79.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

N/A

Investment Themes

CATEGORY

Diversified Portfolio
  • Fund Type Open End Mutual Fund
  • Investment Style Multialternative

Distributions

  • YTD Total Return 4.5%
  • 3 Yr Annualized Total Return -2.3%
  • 5 Yr Annualized Total Return -2.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.24%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Highland Resolute Fund
  • Fund Family Name Redmont
  • Inception Date Dec 30, 2011
  • Shares Outstanding 32237323
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Michael T. Lytle

Fund Description

The fund pursues its objective primarily by allocating its assets among (i) investment sub-advisers who manage alternative or hedging investment strategies, (ii) other open-end funds, closed-end funds, or exchange-traded funds that use alternative or hedging strategies (collectively "underlying funds"), and (iii) derivatives, principally (though not limited to) total return swaps on reference pools of securities which may be managed by unaffiliated parties ("underlying pools"). It is non-diversified.

RMRGX - Performance

Return Ranking - Trailing

Period RMRGX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -5.8% 20.6% 88.61%
1 Yr -8.1% -26.8% 10.9% 82.29%
3 Yr -2.3%* -10.3% 13.5% 93.62%
5 Yr -2.5%* -24.9% 8.8% 75.49%
10 Yr N/A* -15.3% 9.0% N/A

* Annualized


Return Ranking - Calendar

Period RMRGX Return Category Return Low Category Return High Rank in Category (%)
2018 -11.3% -34.6% 1.6% 55.48%
2017 -0.5% -12.4% 33.2% 95.89%
2016 1.6% -65.8% 23.3% 75.05%
2015 -3.9% -64.9% 4.8% 19.99%
2014 0.3% -29.5% 68.3% 48.91%

Total Return Ranking - Trailing

Period RMRGX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -6.1% 21.0% 89.38%
1 Yr -8.1% -26.8% 12.4% 90.38%
3 Yr -2.3%* -10.3% 14.6% 96.78%
5 Yr -2.5%* -22.2% 47.3% 92.29%
10 Yr N/A* -12.5% 13.1% N/A

* Annualized


Total Return Ranking - Calendar

Period RMRGX Return Category Return Low Category Return High Rank in Category (%)
2018 -11.3% -32.7% 1.6% 78.25%
2017 -0.5% -8.4% 33.2% 98.27%
2016 1.6% -65.2% 23.3% 91.17%
2015 -3.9% -62.9% 9.2% 59.57%
2014 0.3% -28.5% 76.9% 84.06%

NAV & Total Return History

RMRGX - Holdings

Concentration Analysis

RMRGX Category Low Category High RMRGX % Rank
Net Assets 332 M 608 K 144 B 62.28%
Number of Holdings 112 2 13352 44.47%
Net Assets in Top 10 135 M -323 M 26.4 B 60.81%
Weighting of Top 10 138.30% 5.6% 3196.0% 2.54%

Top 10 Holdings

  1. PIMCO Short-Term Instl 31.11%

  2. Psam Highland 15.59%

  3. Psam Highland 15.45%

  4. Long/Short Segregated Portfolio 12.38%

  5. Long/Short Segregated Portfolio 12.22%

  6. Wabr 10.50%

  7. Wabr 10.31%

  8. Melchior Segregated Portfolio 10.26%

  9. AQR Multi-Strategy Alternative I 10.24%

  10. Melchior Segregated Portfolio 10.23%


Asset Allocation

Weighting Return Low Return High RMRGX % Rank
Bonds
62.82% -248.60% 261.66% 15.84%
Other
18.04% -253.31% 53.08% 2.74%
Stocks
9.60% -18.54% 135.47% 94.02%
Cash
6.68% -283.85% 358.29% 33.46%
Convertible Bonds
2.32% 0.00% 26.92% 9.22%
Preferred Stocks
0.54% 0.00% 65.70% 21.82%

Stock Sector Breakdown

Weighting Return Low Return High RMRGX % Rank
Consumer Cyclical
2.91% -10.37% 42.25% 76.65%
Financial Services
2.49% -0.38% 47.66% 89.64%
Industrials
1.28% -0.28% 27.17% 91.49%
Technology
0.26% -3.40% 32.12% 95.07%
Energy
0.19% -2.23% 34.31% 95.01%
Communication Services
0.01% -0.92% 7.14% 93.99%
Real Estate
-0.03% -3.85% 76.20% 98.85%
Utilities
-0.07% -0.60% 23.50% 99.68%
Basic Materials
-0.07% -1.52% 22.33% 99.49%
Consumer Defense
-0.19% -1.62% 18.58% 99.49%
Healthcare
-1.69% -2.72% 45.45% 99.94%

Stock Geographic Breakdown

Weighting Return Low Return High RMRGX % Rank
US
10.54% -20.21% 134.61% 90.08%
Non US
-0.94% -85.22% 74.42% 99.55%

Bond Sector Breakdown

Weighting Return Low Return High RMRGX % Rank
Corporate
35.18% 0.00% 86.09% 12.40%
Government
33.48% -106.28% 254.66% 6.11%
Securitized
7.35% 0.00% 43.20% 51.84%
Cash & Equivalents
6.98% -277.47% 359.78% 29.71%
Municipal
0.19% 0.00% 99.76% 29.64%
Derivative
-0.97% -207.30% 53.16% 95.23%

Bond Geographic Breakdown

Weighting Return Low Return High RMRGX % Rank
US
35.41% -245.97% 201.54% 40.71%
Non US
27.41% -71.37% 144.19% 1.78%

RMRGX - Expenses

Operational Fees

RMRGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.94% 0.00% 11.64% 9.99%
Management Fee 1.50% 0.00% 2.50% 98.66%
12b-1 Fee 0.00% 0.00% 1.00% 12.12%
Administrative Fee N/A 0.00% 0.83% N/A

Sales Fees

RMRGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.14% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

RMRGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.11% 2.00% 26.61%

Turnover 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.

RMRGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 79.00% 0.00% 6067.00% 75.00%

RMRGX - Distributions

Dividend Yield Analysis

RMRGX Category Low Category High RMRGX % Rank
Dividend Yield 0.00% 0.00% 0.57% 95.93%

Dividend Distribution Analysis

RMRGX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

RMRGX Category Low Category High RMRGX % Rank
Net Income Ratio 2.24% -4.09% 6.99% 25.45%

Capital Gain Distribution Analysis

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

RMRGX - Managers

Michael T. Lytle

Manager

Start Date

Tenure

Tenure Rank

Dec 30, 2011

7.42

7.4%

Mr. Lytle,CFA, joined Highland Associates Inc in October 2006 as a consultant to the firm’s institutional client base and has been a shareholder in Highland Associates Inc since September 2008. Mr. Lytle became a Principal of Highland Associates Inc in September 2014. Mr. Lytle is a voting member of the Adviser’s investment oversight committee which oversees the entire asset allocation and manager selection process for the firm. Prior to joining the Adviser, Mr. Lytle was a fixed income portfolio manager with AmSouth Asset Management where he managed a number of institutional fixed income portfolios as well as developed and managed the company’s model portfolio program.


R. Scott Graham

Manager

Start Date

Tenure

Tenure Rank

Dec 30, 2011

7.42

7.4%

R.Scott Graham,CFA, joined Highland Associates Inc in September 2006 as a consultant to the firm’s institutional client base and has been a shareholder in Highland Associates Inc since September 2008. Mr. Graham became a Principal of Highland Associates Inc in September 2014 and Chief Investment Officer in November 2014. Mr. Graham is a voting member of Highland Associates Inc's investment oversight committee which oversees the entire asset allocation and manager selection process for the firm. Prior to joining Highland Associates Inc, Mr. Graham was a senior financial analyst with Vulcan Materials Company where he managed the internal portfolio for the company


Jeffrey Lignelli

Manager

Start Date

Tenure

Tenure Rank

Aug 31, 2016

2.75

2.8%

Mr. Lignelli founded Incline Global in April 2012 as the firm’s Chief Executive Officer and Portfolio Manager. Prior to 2012, Mr. Lignelli was a Senior Partner at Appaloosa Management L.P. and was the CEO and Portfolio Manager of Stonebrook Fund Management, a private fund adviser. Mr. Lignelli received his Bachelor of Science degree from the Wharton School of Business of the University of Pennsylvania.


Evan Ratner

Manager

Start Date

Tenure

Tenure Rank

Jan 31, 2017

2.33

2.3%

Evan Ratner joined Chatham in January 2009. Prior to joining Chatham, Mr. Ratner spent 18 years at DLJ/CS where he served in multiple roles, most recently as a managing director and head of distressed investment research. Evan holds both an M.B.A. and a Bachelor of Arts in economics from Columbia University.


Anthony Melchiorre

Manager

Start Date

Tenure

Tenure Rank

Jan 31, 2017

2.33

2.3%

Anthony Melchiorre, Managing Member and Portfolio Manager of Chatham. Mr. Melchiorre founded Chatham in 2003 and has served as a portfolio manager to the Fund since January 2017. Prior to Chatham, Anthony was a Managing Director with Morgan Stanley.Anthony earned an M.B.A. in Finance and Accounting with Honors from the Graduate School of Business at the University of Chicago as well as a B.A. in Economics, with Highest Distinction, from Northwestern University. Anthony is a member of Phi Beta Kappa.


Kevin O'Malley

Manager

Start Date

Tenure

Tenure Rank

Jan 31, 2017

2.33

2.3%

Partner, Co-Portfolio Manager of the Fund. Mr. O’Malley joined Chatham in January 2004. Prior to joining Chatham, Mr. O’Malley spent 12 years at Morgan Stanley where he served as a founding member of the leveraged loan trading and underwriting business. Kevin graduated from Boston College with a Bachelor of Science degree in Finance.


Tenure Analysis

Category Low

0.0

Category High

38.44

Category Average

6.62

Category Mode

7.04