Sterling Capital Long Duration Corporate Bond Fund
Name
As of 05/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-4.7%
1 yr return
-0.1%
3 Yr Avg Return
-7.3%
5 Yr Avg Return
12.5%
Net Assets
$34.2 M
Holdings in Top 10
10.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.92%
SALES FEES
Front Load 2.00%
Deferred Load N/A
TRADING FEES
Turnover 47.29%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SCCMX - Profile
Distributions
- YTD Total Return -4.7%
- 3 Yr Annualized Total Return -7.3%
- 5 Yr Annualized Total Return 12.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.40%
- Dividend Yield 4.5%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSterling Capital Long Duration Corporate Bond Fund
-
Fund Family NameSterling Capital Funds
-
Inception DateJun 30, 2011
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMark Montgomery
Fund Description
To pursue its investment objective, the Fund will invest, under normal circumstances, at least 80% of its net assets plus borrowings for investment purposes in a diversified portfolio of corporate debt securities, including corporate bonds, notes and debentures. The Fund may invest in (i) bonds issued or guaranteed by the U.S. government or its agencies and instrumentalities; (ii) preferred stock; (iii) debt securities that are sold in private placement transactions between their issuers and their purchasers and that are neither listed on an exchange or traded over the counter; and (iv) Yankee bonds, which are U.S.-dollar denominated bonds and notes issued by foreign corporations or governments. The Fund may invest up to 10% of its total assets in bonds that are below investment grade, which are commonly referred to as “high yield” or “junk” bonds. The Fund may invest up to 20% of its total assets in securities denominated in foreign currencies. The remainder of the Fund’s corporate debt securities will typically be denominated in U.S. dollars and be investment grade (i.e., rated at the time of purchase in one of the four highest rating categories by a nationally recognized statistical rating organization, or determined by the portfolio manager to be of comparable quality).
In managing the portfolio, the portfolio manager uses a “top down” investment management approach focusing on interest rate risk, allocation among sectors, credit risk, and individual securities selection. The portfolio manager focuses on macro trends in the economy to establish a duration target that reflects the outlook for the future direction of interest rates. For yield curve management, in addition to the trend in interest rates, other factors such as future inflation expectations, supply factors, and future interest rate expectations are considered. Sector weightings are driven by a combination of the portfolio manager’s macro view on interest rates and volatility as well as relative spread analysis (a comparison of current and historical valuation relationships between various sectors). Utilizing fundamental analysis the portfolio manager then selects individual securities consistent with the target by looking for the best relative values within particular sectors. The analysis includes an attempt to understand the structure and embedded features of potential securities. Features that are analyzed include puts, calls, sinking fund requirements (scheduled early retirements of the specific debt instrument), prepayment and extension risk, and individual company financial data for potential corporate holdings. Scenario analysis is the primary tool employed for these assessments. The Fund’s average duration is expected to be between 10 and 20 years.
The portfolio manager may consider selling a security owned by the Fund to reduce exposure to a particular sector, if the portfolio manager sees a deterioration in the underlying fundamentals of an issuer or if the actions of the issuer violate the investment thesis of owning the security (or, in another words, the original reasoning for purchasing the security), when the portfolio managers finds other attractive securities that the portfolio manager believes are less expensive and offer relatively greater income or growth potential, and in response to macro level adjustments to duration and yield curve contributions (which are changes made to portfolio duration or yield curve positioning due to changes in the portfolio manager’s macroeconomic outlook). The portfolio manager may consider environmental, social and governance (“ESG”) factors as part of the investment process for selecting corporate debt securities and securitized obligations (including asset-backed securities, commercial mortgage-backed securities and collateralized mortgage obligations).
The Fund may invest in certain types of derivative instruments for hedging and investment purposes. Although the Fund may invest in derivatives of any kind, the Fund currently expects to invest in futures contracts and forward foreign currency contracts to gain efficient investment exposures as an alternative to cash investments or to hedge against portfolio exposures, and credit default swaps and interest rate swaps to gain indirect exposure to interest rates, issuers, currencies, or market sectors, or to hedge against portfolio exposures.
SCCMX - Performance
Return Ranking - Trailing
Period | SCCMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -4.7% | -5.0% | 3.5% | 99.43% |
1 Yr | -0.1% | -1.3% | 9.8% | 97.73% |
3 Yr | -7.3%* | -9.9% | 39.4% | 97.69% |
5 Yr | 12.5%* | -4.2% | 26.2% | 3.14% |
10 Yr | 7.4%* | -0.5% | 14.0% | 4.00% |
* Annualized
Return Ranking - Calendar
Period | SCCMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.2% | -5.6% | 6.3% | 6.25% |
2022 | -26.4% | -28.7% | 142.1% | 98.29% |
2021 | -12.3% | -12.3% | 4.9% | 99.42% |
2020 | 2.3% | -8.0% | 10.6% | 97.62% |
2019 | 7.4% | 4.3% | 13.4% | 90.51% |
Total Return Ranking - Trailing
Period | SCCMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -4.7% | -5.0% | 3.5% | 99.43% |
1 Yr | -0.1% | -1.3% | 9.8% | 97.73% |
3 Yr | -7.3%* | -9.9% | 39.4% | 97.69% |
5 Yr | 12.5%* | -4.2% | 26.2% | 3.14% |
10 Yr | 7.4%* | -0.5% | 14.0% | 4.00% |
* Annualized
Total Return Ranking - Calendar
Period | SCCMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 9.7% | -5.6% | 12.9% | 7.95% |
2022 | -23.6% | -25.6% | 151.8% | 98.86% |
2021 | -0.1% | -5.1% | 7.5% | 26.74% |
2020 | 116.0% | -8.0% | 116.0% | 0.60% |
2019 | 10.5% | 6.7% | 17.4% | 93.67% |
NAV & Total Return History
SCCMX - Holdings
Concentration Analysis
SCCMX | Category Low | Category High | SCCMX % Rank | |
---|---|---|---|---|
Net Assets | 34.2 M | 5.45 M | 47.3 B | 92.05% |
Number of Holdings | 354 | 4 | 10179 | 73.30% |
Net Assets in Top 10 | 3.83 M | -29.6 M | 3.67 B | 94.32% |
Weighting of Top 10 | 10.65% | 1.5% | 143.5% | 75.57% |
Top 10 Holdings
- United States Treasury Note/Bond 3.31%
- Federated Hermes Treasury Obligations Fund 1.22%
- JPMorgan Chase Co 0.86%
- ATT Inc 0.84%
- Boeing Co/The 0.82%
- Wells Fargo Co 0.79%
- Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc 0.72%
- UnitedHealth Group Inc 0.71%
- Intel Corp 0.69%
- Bank of America Corp 0.68%
Asset Allocation
Weighting | Return Low | Return High | SCCMX % Rank | |
---|---|---|---|---|
Bonds | 98.01% | 0.00% | 136.47% | 32.95% |
Cash | 1.99% | -43.80% | 45.81% | 64.20% |
Convertible Bonds | 0.24% | 0.00% | 78.47% | 93.75% |
Stocks | 0.00% | 0.00% | 99.96% | 51.70% |
Preferred Stocks | 0.00% | 0.00% | 9.18% | 54.55% |
Other | 0.00% | -1.14% | 13.53% | 79.55% |
Bond Sector Breakdown
Weighting | Return Low | Return High | SCCMX % Rank | |
---|---|---|---|---|
Corporate | 93.29% | 41.80% | 99.80% | 19.89% |
Government | 4.16% | 0.00% | 25.63% | 62.50% |
Cash & Equivalents | 1.22% | 0.00% | 45.81% | 67.61% |
Securitized | 0.55% | 0.00% | 23.18% | 61.36% |
Derivative | 0.00% | -0.21% | 2.35% | 67.61% |
Municipal | 0.00% | 0.00% | 3.62% | 77.84% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | SCCMX % Rank | |
---|---|---|---|---|
US | 98.01% | 0.00% | 109.04% | 30.11% |
Non US | 0.00% | 0.00% | 47.05% | 54.55% |
SCCMX - Expenses
Operational Fees
SCCMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.92% | 0.02% | 46.23% | 35.63% |
Management Fee | 0.25% | 0.00% | 1.35% | 23.86% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 34.21% |
Administrative Fee | 0.11% | 0.02% | 0.45% | 72.97% |
Sales Fees
SCCMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 2.00% | 1.00% | 4.75% | 95.83% |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
SCCMX 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.
SCCMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 47.29% | 0.00% | 259.00% | 37.36% |
SCCMX - Distributions
Dividend Yield Analysis
SCCMX | Category Low | Category High | SCCMX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.49% | 0.00% | 6.00% | 59.66% |
Dividend Distribution Analysis
SCCMX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
SCCMX | Category Low | Category High | SCCMX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.40% | 0.38% | 5.93% | 39.66% |
Capital Gain Distribution Analysis
SCCMX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 01, 2024 | $0.026 | DailyAccrualFund |
Mar 01, 2024 | $0.024 | DailyAccrualFund |
Feb 01, 2024 | $0.025 | DailyAccrualFund |
Dec 29, 2023 | $0.025 | DailyAccrualFund |
Nov 30, 2023 | $0.025 | DailyAccrualFund |
Oct 31, 2023 | $0.026 | DailyAccrualFund |
Sep 29, 2023 | $0.024 | DailyAccrualFund |
Aug 31, 2023 | $0.025 | DailyAccrualFund |
Jul 31, 2023 | $0.025 | DailyAccrualFund |
Jun 30, 2023 | $0.024 | DailyAccrualFund |
May 31, 2023 | $0.025 | DailyAccrualFund |
Apr 28, 2023 | $0.023 | DailyAccrualFund |
Mar 31, 2023 | $0.024 | DailyAccrualFund |
Feb 28, 2023 | $0.022 | DailyAccrualFund |
Jan 31, 2023 | $0.024 | DailyAccrualFund |
Dec 30, 2022 | $0.024 | DailyAccrualFund |
Dec 01, 2022 | $0.023 | DailyAccrualFund |
Nov 01, 2022 | $0.024 | DailyAccrualFund |
Oct 03, 2022 | $0.023 | DailyAccrualFund |
Sep 01, 2022 | $0.023 | DailyAccrualFund |
Aug 01, 2022 | $0.023 | DailyAccrualFund |
Jul 01, 2022 | $0.022 | DailyAccrualFund |
Jun 01, 2022 | $0.023 | DailyAccrualFund |
May 02, 2022 | $0.022 | DailyAccrualFund |
Apr 01, 2022 | $0.023 | DailyAccrualFund |
Mar 01, 2022 | $0.020 | DailyAccrualFund |
Feb 01, 2022 | $0.016 | DailyAccrualFund |
Dec 31, 2021 | $0.018 | DailyAccrualFund |
Nov 30, 2021 | $0.020 | DailyAccrualFund |
Oct 29, 2021 | $0.020 | DailyAccrualFund |
Sep 30, 2021 | $0.021 | DailyAccrualFund |
Aug 31, 2021 | $0.020 | DailyAccrualFund |
Jul 30, 2021 | $0.020 | DailyAccrualFund |
Jun 30, 2021 | $0.025 | DailyAccrualFund |
May 28, 2021 | $0.022 | DailyAccrualFund |
Apr 30, 2021 | $0.021 | DailyAccrualFund |
Mar 31, 2021 | $0.025 | DailyAccrualFund |
Feb 26, 2021 | $0.016 | DailyAccrualFund |
Jan 29, 2021 | $0.019 | DailyAccrualFund |
Jan 04, 2021 | $0.022 | DailyAccrualFund |
Dec 01, 2020 | $0.020 | DailyAccrualFund |
Nov 02, 2020 | $0.022 | DailyAccrualFund |
Oct 01, 2020 | $0.024 | DailyAccrualFund |
Sep 01, 2020 | $0.023 | DailyAccrualFund |
Aug 03, 2020 | $0.023 | DailyAccrualFund |
Jul 01, 2020 | $0.022 | DailyAccrualFund |
May 01, 2020 | $0.022 | DailyAccrualFund |
Apr 01, 2020 | $0.023 | DailyAccrualFund |
Mar 02, 2020 | $0.021 | DailyAccrualFund |
Feb 03, 2020 | $0.022 | DailyAccrualFund |
Jan 02, 2020 | $0.022 | DailyAccrualFund |
Dec 02, 2019 | $0.022 | DailyAccrualFund |
Nov 01, 2019 | $0.023 | DailyAccrualFund |
Oct 01, 2019 | $0.022 | DailyAccrualFund |
Sep 03, 2019 | $0.023 | DailyAccrualFund |
Aug 01, 2019 | $0.025 | DailyAccrualFund |
Jun 03, 2019 | $0.026 | DailyAccrualFund |
May 01, 2019 | $0.025 | DailyAccrualFund |
Apr 01, 2019 | $0.026 | DailyAccrualFund |
Mar 01, 2019 | $0.024 | DailyAccrualFund |
Feb 01, 2019 | $0.027 | DailyAccrualFund |
Jan 02, 2019 | $0.026 | DailyAccrualFund |
Dec 03, 2018 | $0.025 | DailyAccrualFund |
Nov 01, 2018 | $0.026 | DailyAccrualFund |
Sep 04, 2018 | $0.024 | DailyAccrualFund |
Aug 01, 2018 | $0.025 | DailyAccrualFund |
Jul 02, 2018 | $0.024 | DailyAccrualFund |
Jun 01, 2018 | $0.025 | DailyAccrualFund |
May 01, 2018 | $0.025 | DailyAccrualFund |
Apr 02, 2018 | $0.026 | DailyAccrualFund |
Mar 01, 2018 | $0.023 | DailyAccrualFund |
Feb 01, 2018 | $0.025 | DailyAccrualFund |
Jan 02, 2018 | $0.025 | DailyAccrualFund |
Dec 01, 2017 | $0.023 | DailyAccrualFund |
Nov 01, 2017 | $0.024 | DailyAccrualFund |
Oct 02, 2017 | $0.024 | DailyAccrualFund |
Sep 01, 2017 | $0.024 | DailyAccrualFund |
Aug 01, 2017 | $0.024 | DailyAccrualFund |
Jul 03, 2017 | $0.024 | DailyAccrualFund |
Jun 01, 2017 | $0.023 | DailyAccrualFund |
May 01, 2017 | $0.024 | DailyAccrualFund |
Apr 03, 2017 | $0.027 | DailyAccrualFund |
Mar 01, 2017 | $0.023 | DailyAccrualFund |
Feb 01, 2017 | $0.025 | DailyAccrualFund |
Jan 03, 2017 | $0.025 | DailyAccrualFund |
Dec 01, 2016 | $0.023 | DailyAccrualFund |
Nov 01, 2016 | $0.024 | DailyAccrualFund |
Oct 03, 2016 | $0.025 | DailyAccrualFund |
Sep 01, 2016 | $0.024 | DailyAccrualFund |
Aug 01, 2016 | $0.023 | DailyAccrualFund |
Jul 01, 2016 | $0.023 | DailyAccrualFund |
Jun 01, 2016 | $0.022 | DailyAccrualFund |
May 02, 2016 | $0.023 | DailyAccrualFund |
Apr 01, 2016 | $0.023 | DailyAccrualFund |
Mar 01, 2016 | $0.021 | DailyAccrualFund |
Feb 01, 2016 | $0.025 | DailyAccrualFund |
Jan 04, 2016 | $0.023 | DailyAccrualFund |
Dec 01, 2015 | $0.024 | DailyAccrualFund |
Nov 02, 2015 | $0.025 | DailyAccrualFund |
Oct 01, 2015 | $0.024 | DailyAccrualFund |
Sep 01, 2015 | $0.026 | DailyAccrualFund |
Aug 03, 2015 | $0.025 | DailyAccrualFund |
Jul 01, 2015 | $0.023 | DailyAccrualFund |
Jun 01, 2015 | $0.023 | DailyAccrualFund |
May 01, 2015 | $0.025 | DailyAccrualFund |
Apr 01, 2015 | $0.025 | DailyAccrualFund |
Mar 02, 2015 | $0.022 | DailyAccrualFund |
Feb 02, 2015 | $0.026 | DailyAccrualFund |
Jan 02, 2015 | $0.026 | DailyAccrualFund |
Dec 01, 2014 | $0.024 | DailyAccrualFund |
Nov 03, 2014 | $0.027 | DailyAccrualFund |
Oct 01, 2014 | $0.027 | DailyAccrualFund |
Sep 02, 2014 | $0.025 | DailyAccrualFund |
Aug 01, 2014 | $0.026 | DailyAccrualFund |
Jul 01, 2014 | $0.027 | DailyAccrualFund |
Jun 02, 2014 | $0.026 | DailyAccrualFund |
May 01, 2014 | $0.026 | DailyAccrualFund |
Apr 01, 2014 | $0.028 | DailyAccrualFund |
Mar 03, 2014 | $0.021 | DailyAccrualFund |
Feb 03, 2014 | $0.026 | DailyAccrualFund |
Jan 02, 2014 | $0.027 | DailyAccrualFund |
Dec 02, 2013 | $0.027 | DailyAccrualFund |
Nov 01, 2013 | $0.028 | DailyAccrualFund |
Oct 01, 2013 | $0.027 | DailyAccrualFund |
Sep 03, 2013 | $0.028 | DailyAccrualFund |
Aug 01, 2013 | $0.027 | DailyAccrualFund |
Jul 01, 2013 | $0.031 | DailyAccrualFund |
Jun 03, 2013 | $0.028 | DailyAccrualFund |
May 01, 2013 | $0.025 | DailyAccrualFund |
Apr 01, 2013 | $0.031 | DailyAccrualFund |
Mar 01, 2013 | $0.024 | DailyAccrualFund |
SCCMX - Fund Manager Analysis
Managers
Mark Montgomery
Start Date
Tenure
Tenure Rank
Jun 30, 2011
10.93
10.9%
Mr. Montgomery is a Senior Managing Director. Mr. Montgomery joined the firm in 1997 and is a Senior Fixed Income Portfolio Manager and head of Sterling Capital’s Fixed Income Portfolio Management. He has investment experience since 1990. Prior to joining Sterling Capital, he worked at The Vanguard Group for seven years working on their long-term and high-yield municipal portfolio management team. Mr. Montgomery is a graduate of West Chester University where he received his B.S. in Marketing and holds a minor in Public Administration. He received his M.B.A. from Drexel University with a concentration in investment management. He is a CFA charterholder.
Peter Brown
Start Date
Tenure
Tenure Rank
Feb 01, 2020
2.33
2.3%
Mr. Brown is an Executive Director, Fixed Income Portfolio Manager and head of Sterling Capital’s Corporate Credit Team. He has been with Sterling Capital since 2004 and has investment experience since 2000. Prior to joining Sterling Capital, he held financial analyst positions at National Institutes of Health and First Union National Bank/First Union Securities. Mr. Brown received his B.S. in Statistics with minors in Business Management, Marketing and Communications from Cornell University and his M.B.A. from Wake Forest University. He is a CFA charterholder.
Robert Brown
Start Date
Tenure
Tenure Rank
Feb 01, 2022
0.33
0.3%
Robert A. Brown, CFA, Executive Director, joined Sterling Capital in 2016 and has investment experience since 1986. He has been co-portfolio manager of the Long Duration Corporate Bond Fund since February 2022. Robert received his B.A. in Geography with Economics from the University of Exeter. He holds the Chartered Financial Analyst designation.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.33 | 24.76 | 6.74 | 2.47 |