VFLEX: The Relative Value Fund - MutualFunds.com
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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$27.67

-

5.42%

$1.50

2.53%

Vitals

YTD Return

8.3%

1 yr return

21.0%

3 Yr Avg Return

7.7%

5 Yr Avg Return

N/A

Net Assets

$N/A

Holdings in Top 10

50.5%

52 WEEK LOW AND HIGH

$27.67
$24.79
$27.67

Expenses

OPERATING FEES

Expense Ratio 2.53%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 43.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Closed-end mutual fund

Investment Style

Multistrategy


Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$27.67

-

5.42%

$1.50

2.53%

VFLEX - Profile

Distributions

  • YTD Total Return 8.3%
  • 3 Yr Annualized Total Return 7.7%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.82%
DIVIDENDS
  • Dividend Yield 5.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    The Relative Value Fund
  • Fund Family Name
    Vivaldi
  • Inception Date
    Jun 12, 2017
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Patrick Galley

Fund Description

The fund uses a “multi-manager” approach whereby the fund’s assets are allocated amongst the Investment Manager and one or more sub-advisers (each, a “Sub-Adviser” and together, the “Sub-Advisers”), in percentages determined at the discretion of the Investment Manager. The Investment Manager and Sub-Advisers implement both fundamentally and technically driven strategies. The allocation amongst these strategies will vary over time in response to changing market opportunities. The fund is non-diversified.


VFLEX - Performance

Return Ranking - Trailing

Period VFLEX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.3% -73.0% 19.4% 27.60%
1 Yr 21.0% -9.1% 86.9% 14.91%
3 Yr 7.7%* -9.5% 16.2% 16.06%
5 Yr N/A* -4.9% 14.4% N/A
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Return Ranking - Calendar

Period VFLEX Return Category Return Low Category Return High Rank in Category (%)
2020 -0.4% -22.7% 305.1% 65.19%
2019 5.5% -9.8% 27.3% 42.34%
2018 -5.2% -20.8% 10.9% 43.56%
2017 N/A -12.4% 29.4% N/A
2016 N/A -10.5% 15.8% N/A

Total Return Ranking - Trailing

Period VFLEX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.3% -73.0% 19.4% 27.60%
1 Yr 21.0% -13.4% 86.9% 14.55%
3 Yr 7.7%* -9.5% 16.2% 14.06%
5 Yr N/A* -5.3% 14.4% N/A
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Total Return Ranking - Calendar

Period VFLEX Return Category Return Low Category Return High Rank in Category (%)
2020 -0.4% -22.7% 305.1% 65.19%
2019 5.5% -9.8% 27.3% 42.74%
2018 -5.2% -20.8% 10.9% 53.33%
2017 N/A -8.4% 29.4% N/A
2016 N/A -10.2% 18.0% N/A

NAV & Total Return History


VFLEX - Holdings

Concentration Analysis

VFLEX Category Low Category High VFLEX % Rank
Net Assets N/A 1.5 M 5.01 B N/A
Number of Holdings 525 4 4478 46.29%
Net Assets in Top 10 77 M -398 M 2.55 B 50.53%
Weighting of Top 10 50.51% 13.1% 100.0% 51.38%

Top 10 Holdings

  1. Pomona Investment Lp 10.03%
  2. Pomona Investment Lp 10.03%
  3. Pomona Investment Lp 10.03%
  4. Pomona Investment Lp 10.03%
  5. Pomona Investment Lp 10.03%
  6. Pomona Investment Lp 10.03%
  7. Pomona Investment Lp 10.03%
  8. Pomona Investment Lp 10.03%
  9. Pomona Investment Lp 10.03%
  10. Pomona Investment Lp 10.03%

Asset Allocation

Weighting Return Low Return High VFLEX % Rank
Other
44.50% -21.53% 148.54% 10.25%
Bonds
36.65% -326.45% 6347.80% 27.92%
Stocks
10.62% -3.75% 97.95% 79.15%
Cash
7.72% -6278.21% 410.43% 73.85%
Preferred Stocks
0.33% -0.12% 46.97% 12.01%
Convertible Bonds
0.18% 0.00% 87.92% 53.36%

Stock Sector Breakdown

Weighting Return Low Return High VFLEX % Rank
Utilities
0.00% 0.00% 9.23% 73.36%
Technology
0.00% 0.00% 39.58% 94.59%
Real Estate
0.00% 0.00% 51.26% 49.03%
Industrials
0.00% 0.00% 21.45% 79.54%
Healthcare
0.00% 0.00% 45.63% 87.26%
Financial Services
0.00% 0.00% 59.28% 6.18%
Energy
0.00% 0.00% 100.00% 3.86%
Communication Services
0.00% 0.00% 21.78% 82.24%
Consumer Defense
0.00% 0.00% 13.62% 70.66%
Consumer Cyclical
0.00% 0.00% 29.09% 93.05%
Basic Materials
0.00% 0.00% 27.46% 72.59%

Stock Geographic Breakdown

Weighting Return Low Return High VFLEX % Rank
US
10.05% -8.85% 91.88% 71.73%
Non US
0.57% -19.62% 42.11% 78.09%

Bond Sector Breakdown

Weighting Return Low Return High VFLEX % Rank
Securitized
45.27% 0.00% 56.83% 1.06%
Corporate
35.21% 0.00% 87.73% 15.55%
Cash & Equivalents
17.61% 0.27% 100.00% 80.21%
Government
1.38% 0.00% 84.29% 83.04%
Municipal
0.44% 0.00% 27.33% 5.30%
Derivative
0.10% 0.00% 88.81% 62.90%

Bond Geographic Breakdown

Weighting Return Low Return High VFLEX % Rank
Non US
18.57% -382.37% 121.02% 12.72%
US
18.08% -126.19% 6311.18% 37.81%

VFLEX - Expenses

Operational Fees

VFLEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.53% 0.29% 31.15% N/A
Management Fee 0.50% 0.00% 2.50% 10.95%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

VFLEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

VFLEX 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.

VFLEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 43.00% 0.00% 491.00% N/A

VFLEX - Distributions

Dividend Yield Analysis

VFLEX Category Low Category High VFLEX % Rank
Dividend Yield 5.42% 0.00% 4.56% 71.73%

Dividend Distribution Analysis

VFLEX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Quarterly Annually

Net Income Ratio Analysis

VFLEX Category Low Category High VFLEX % Rank
Net Income Ratio 4.82% -2.51% 6.83% N/A

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

VFLEX - Fund Manager Analysis

Managers

Patrick Galley


Start Date

Tenure

Tenure Rank

Jun 12, 2017

4.22

4.2%

Patrick joined RiverNorth in 2004 and serves as Chief Investment Officer and Portfolio Manager. Patrick heads the firm's investment team and oversees all portfolio management activities at RiverNorth. Patrick also serves as the President and Chairman of RiverNorth Funds. Prior to joining RiverNorth, Patrick was Vice President at Bank of America in the Global Investment Bank's Portfolio Management group where he specialized in analyzing and structuring corporate transactions for investment management firms in addition to closed-end and open-end funds, hedge funds, fund of funds, structured investment vehicles and insurance/reinsurance companies. Patrick graduated with honors from Rochester Institute of Technology with a B.S. in Finance. He is a CFA Charterholder and member of the CFA Institute and the CFA Society of Chicago.

Brian Murphy


Start Date

Tenure

Tenure Rank

Jun 12, 2017

4.22

4.2%

Mr. Brian Murphy serves as Portfolio Manager at Vivaldi Capital Management. Brian joined Vivaldi as a Senior Research Analyst on the investment team with a particular focus on Vivaldi's alternatives portfolios. Brian is responsible for all aspects of the investment process, including investment sourcing, evaluation, and monitoring. He is also a member of the firm's investment committee. Brian has eight years of alternatives investment experience at both multi-manager and single strategy hedge funds, with a particularly deep background in long/short equity and derivatives trading strategies. Prior to joining Vivaldi, Brian was a Director for Voyager Management, a fund of hedge funds firm. He received his B.S. in Finance from Miami University in Oxford, OH.

Sam Dunlap


Start Date

Tenure

Tenure Rank

Jun 12, 2017

4.22

4.2%

Mr. Sam Dunlap serves as Managing Director and Senior Portfolio Manager at Angel Oak Capital Advisors. He is also responsible for managing the separately managed accounts for Angel Oak clients, primarily depository institutions, and focuses on building and managing strategies within the residential mortgage-backed securities market. Sam joined Angel Oak in 2009. He serves as a voting member of the firm's public funds Investment Committee and is a board member of the Angel Oak Funds Trust. He has also been featured as a television guest on CNBC, Fox Business, and Bloomberg. Sam began his capital markets career in 2002 and has investment experience across multiple sectors of the fixed income market. Prior to joining Angel Oak, he was with SunTrust Robinson Humphrey where he focused on both interest rate hedging products and interest rate linked structured notes. Before SunTrust, Sam was at Wachovia in Charlotte, NC supporting the agency mortgage pass-through trading desk.

Stephen O'Neill


Start Date

Tenure

Tenure Rank

Jun 12, 2017

4.22

4.2%

Steve joined RiverNorth in 2007 and serves as Portfolio Manager. Steve co-manages the firm's closed-end fund trading strategies and helps to oversee the firm's closed-end fund investment analysts. Prior to joining RiverNorth, Steve was Assistant Vice President at Bank of America in the Global Investment Bank's Portfolio Management group where he specialized in the corporate real estate, asset management and structured finance industries. Steve graduated Magna Cum Laude from Miami University of Ohio with a B.S. in Finance and a minor in Economics. He is a CFA Charterholder and member of the CFA Institute and the CFA Society of Chicago.

Berkin Kologlu


Start Date

Tenure

Tenure Rank

Jun 12, 2017

4.22

4.2%

Berkin is a Managing Director and Senior Portfolio Manager at Angel Oak Capital. He serves as a Portfolio Manager for three of the firm’s mutual funds, the Multi-Strategy Income Fund, High Yield Opportunities Fund, and the Strategic Credit Fund, as well as one of the firm’s private funds. He has over 15 years of experience in fixed income products and focuses on building and managing strategies within the collateralized loan obligation (CLO) market. Prior to Angel Oak, Berkin spent six years as an executive director at UBS, covering structured products and client solutions. Prior to UBS, Berkin worked at Bank of America where he focused on the structuring and marketing of CLOs and synthetic collateralized debt obligations backed by corporate credit. Before Bank of America, Berkin worked in Turkey as a commercial banker, where he was responsible for lending to large cap corporations. Berkin holds a B.S. degree in Civil Engineering from Bogazici University in Istanbul, Turkey and an M.B.A. from Duke University’s Fuqua School of Business.

Daniel Lancz


Start Date

Tenure

Tenure Rank

Jun 12, 2017

4.22

4.2%

Mr. Lancz has served as Portfolio Manager for Vivaldi Asset Management since November 2014. Prior to joining Vivaldi, Mr. Lancz was the Chief Compliance Officer, Director of Research and Member of the General Partner of Glenfinnen Capital LLC since 2003. Mr. Lancz was also the Director of Research at Augusta Capital Management L.P. from 2000 until 2003. Mr. Lancz received a Bachelor of Science degree from Miami University.

Jeff O’Brien


Start Date

Tenure

Tenure Rank

Jun 12, 2017

4.22

4.2%

Jeff O’Brien joined Vivaldi in 2014. Prior to joining Vivaldi, Mr. O’Brien was the Founder and Managing Member of Glenfinnen Capital, LLC (“Glenfinnen”) which served as the investment advisor for two merger arbitrage hedge funds. Prior to founding Glenfinnen in April 2000, Mr. O’Brien served as a portfolio manager and research analyst on the risk arbitrage desk at First Capital Alliance for five years and before that as a credit analyst at NationsBank. Mr. O’Brien earned a Bachelor of Science in Finance from Indiana University.

Michael Peck


Start Date

Tenure

Tenure Rank

Jun 12, 2017

4.22

4.2%

Michael Peck is President and Co-Chief Investment Officer and responsible for all portfolio management as well as creating and implementing the strategic vision of the firm. Prior to Vivaldi, Michael was a Portfolio Manager at Coe Capital Management, a Chicago-based registered investment adviser and also a Financial Analyst and Risk Manager for Bond Companies. Michael graduated from Lehigh University with a Bachelor of Science in Accounting. He also holds a Masters in Finance and a Master’s in Business Administration in both Finance & Real Estate from DePaul University and is a Chartered Financial Analyst (CFA) charter holder.

Scott Hergott


Start Date

Tenure

Tenure Rank

Jun 12, 2017

4.22

4.2%

At Vivaldi, Scott is the quarterback behind the due-diligence process and assessing whether a new strategy is suitable for the firm’s Investment Platform. Scott joined Vivaldi from Citadel in New York where he worked as a Derivatives Analyst focused on Risk Management inside their Surveyor group, a multi-manager long/short equity platform that managed $13 Billion. Scott is a seasoned investment professional with 25-years of experience analyzing and managing Fund of Hedge Fund portfolios and trading equity options on the floor of the Chicago Board Options Exchange.

Sreeniwas (Sreeni) Prabhu


Start Date

Tenure

Tenure Rank

Jul 30, 2018

3.09

3.1%

Sreeni is a co-founder, Managing Partner and Chief Investment Officer at Angel Oak Capital and is responsible for the overall investment strategy of the firm. Prior to Angel Oak, Sreeni was the Chief Investment Officer of the investment portfolio at Washington Mutual Bank in Seattle where he managed a $25 billion portfolio. He was also part of the macro asset strategy team at the bank. Sreeni previously worked for six years at SunTrust Bank in Atlanta, where he was responsible for investment strategies and served as Head Portfolio Manager for the $3 billion commercial mortgage-backed securities portfolio. He began his career at SunTrust in 1998 as a Bank Analyst focused on asset/liability management and liquidity strategies. Sreeni holds a B.B.A. degree in Economics from Georgia College and State University and an M.B.A. in Finance from Georgia State University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67