ZFLIX: Ziegler Senior Floating Rate Inst

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ZFLIX Ziegler Senior Floating Rate Inst


Profile

ZFLIX - Profile

Vitals

  • YTD Return -6.5%
  • 3 Yr Annualized Return -3.2%
  • 5 Yr Annualized Return N/A
  • Net Assets $71.8 M
  • Holdings in Top 10 13.2%

52 WEEK LOW AND HIGH

$23.54
$20.36
$25.45

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.08%

SALES FEES

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

BROKERAGE FEES

  • Turnover 61.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -6.5%
  • 3 Yr Annualized Total Return -3.2%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.52%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Ziegler Senior Floating Rate Fund
  • Fund Family Name
    Ziegler
  • Inception Date
    Apr 01, 2016
  • Shares Outstanding
    2611842
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Scott Roberts

Fund Description

The fund invests under normal circumstances at least 80% of its net assets (plus any borrowings for investment purposes) in senior secured floating rate loans, other senior secured floating rate debt instruments, and in other instruments that have economic characteristics similar to such instruments. It may invest up to 100% of its net assets in floating rate loans and floating rate debt securities that are determined to be below investment grade.


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Categories

Performance

ZFLIX - Performance

Return Ranking - Trailing

Period ZFLIX Return Category Return Low Category Return High Rank in Category (%)
YTD -6.5% -100.0% 0.0% 17.76%
1 Yr -7.5% -100.0% 0.1% 39.92%
3 Yr -3.2%* -8.3% -0.4% 26.91%
5 Yr N/A* -6.0% -0.3% N/A
10 Yr N/A* -2.1% 0.2% N/A

* Annualized

Return Ranking - Calendar

Period ZFLIX Return Category Return Low Category Return High Rank in Category (%)
2019 0.9% -8.1% 5.7% 84.98%
2018 -3.6% -12.2% 0.1% 10.92%
2017 -0.2% -2.7% 2.5% 37.33%
2016 N/A -0.4% 12.9% N/A
2015 N/A -12.5% -0.8% N/A

Total Return Ranking - Trailing

Period ZFLIX Return Category Return Low Category Return High Rank in Category (%)
YTD -6.5% -100.0% 0.0% 17.76%
1 Yr -7.5% -100.0% 0.1% 39.92%
3 Yr -3.2%* -8.3% 1.3% 43.05%
5 Yr N/A* -6.0% 1.4% N/A
10 Yr N/A* -2.1% 2.2% N/A

* Annualized

Total Return Ranking - Calendar

Period ZFLIX Return Category Return Low Category Return High Rank in Category (%)
2019 0.9% -8.1% 5.7% 84.98%
2018 -3.6% -12.2% 2.5% 20.17%
2017 -0.2% -2.5% 7.2% 47.00%
2016 N/A -0.1% 12.9% N/A
2015 N/A -12.5% 1.6% N/A

NAV & Total Return History


Holdings

ZFLIX - Holdings

Concentration Analysis

ZFLIX Category Low Category High ZFLIX % Rank
Net Assets 71.8 M 10.5 M 7.47 B 91.05%
Number of Holdings 145 5 1111 89.66%
Net Assets in Top 10 9.14 M -99.6 M 1.27 B 93.10%
Weighting of Top 10 13.23% 6.6% 95.6% 41.00%

Top 10 Holdings

Asset Allocation

Weighting Return Low Return High ZFLIX % Rank
Bonds
98.29% 81.88% 151.17% 15.33%
Cash
1.71% -51.25% 15.44% 79.69%
Stocks
0.00% 0.00% 4.61% 81.61%
Preferred Stocks
0.00% 0.00% 11.31% 51.34%
Other
0.00% -51.57% 8.58% 65.90%
Convertible Bonds
0.00% 0.00% 5.05% 55.94%

Bond Sector Breakdown

Weighting Return Low Return High ZFLIX % Rank
Corporate
98.29% 0.00% 99.87% 9.20%
Cash & Equivalents
1.71% 0.00% 69.22% 80.84%
Derivative
0.00% 0.00% 21.73% 48.66%
Securitized
0.00% 0.00% 99.61% 72.41%
Municipal
0.00% 0.00% 99.98% 49.81%
Government
0.00% 0.00% 94.61% 47.89%

Bond Geographic Breakdown

Weighting Return Low Return High ZFLIX % Rank
US
98.29% 42.97% 139.57% 3.07%
Non US
0.00% 0.00% 105.43% 97.70%

Expenses

ZFLIX - Expenses

Operational Fees

ZFLIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.08% 0.01% 27.10% 49.23%
Management Fee 0.65% 0.00% 1.00% 69.50%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 0.40% N/A

Sales Fees

ZFLIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.00% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

ZFLIX 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.

ZFLIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 61.00% 5.00% 209.00% 73.95%

Distributions

ZFLIX - Distributions

Dividend Yield Analysis

ZFLIX Category Low Category High ZFLIX % Rank
Dividend Yield 0.00% 0.00% 4.03% 62.31%

Dividend Distribution Analysis

ZFLIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

ZFLIX Category Low Category High ZFLIX % Rank
Net Income Ratio 5.52% 1.49% 10.03% 16.15%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

ZFLIX - Fund Manager Analysis

Managers

Scott Roberts


Start Date

Tenure

Tenure Rank

Apr 01, 2016

4.08

4.1%

Mr. Roberts is Senior Portfolio Manager and the President and CEO of Ziegler Capital Management, LLC. Mr. Roberts joined the Ziegler in January 2009. Prior to joining the firm, he was President and Chief Investment Officer of Deerfield Capital Management and responsible for all investment management, marketing, and operational activities of the firm. Mr. Roberts served as Chairman of the Investment Committee of Deerfield Triarc Capital Corp, an externally managed Mortgage Securities REIT, from the company’s initial private offering in 2004 through 2006. Prior to joining Deerfield Capital, Mr. Roberts was the Chief Investment Officer at several Zurich Insurance Company subsidiaries including Scudder Kemper Investments, Zurich Investment Management and CentreRe. Prior to Zurich, Mr. Roberts was the Director of Fixed Income for Loomis Sayles in Milwaukee and a Senior Vice President and Portfolio Manager for Putnam Investments in Boston. Mr. Roberts is currently on the Board of Directors of Marquette University, Marquette University High School and Catholic Charities of Chicago. He has served on the Board of Directors of several of the firms with which he has worked, including Centre Cat, Centre Investment Services, Zurich Investment Management, Liberty Hampshire and Deerfield Capital. Mr. Roberts received an M.B.A. in Finance and Investments from the Applied Security Analysis Program at the University of Wisconsin at Madison, and a B.S. in Accounting and Finance from Marquette University.

George Marshman


Start Date

Tenure

Tenure Rank

Apr 01, 2016

4.08

4.1%

Mr. Marshman is Senior Portfolio Manager for the Ziegler Floating Rate Fund and one of Valcour’s two Managing Partners. As a member of the Investment Committee, he is responsible for supervising all investment activity at the firm. These duties include credit analysis of individual borrowers, underwriting of individual transaction, and firm wide portfolio and regulatory compliance. Prior to co-founding Valcour in September 2009, Mr. Marshman was co-founder and Chief Investment Officer at Aladdin Capital Holdings (“Aladdin”) from 2000 to 2009, a $20 billion asset management firm that issued and managed ten CLOs totaling $3.5 billion. At Aladdin, Mr. Marshman was responsible for all portfolio management and was a Key Man for over $4 billion in bank loan securitizations and over $1 billion in other structured product assets. Mr. Marshman previously served as a Vice President and trader in Donaldson, Lufkin & Jenrette’s corporate bond department. Prior to that, he was a Vice President at Lehman Brothers, where his focus was on new issue and secondary trading of floating rate notes and structured securities. Mr. Marshman began his Wall Street career at Orion Consultants in 1989. He holds a BA degree from Yale College.

Roberta Goss


Start Date

Tenure

Tenure Rank

Sep 01, 2019

0.66

0.7%

Ms. Goss is a Portfolio Manager , and Co-Head of the Bank Loan and CLO Platform at Pretium, where she is responsible for building and leading the Firm’s Crown Point CLO business, as well as managing investments across the Firm’s other corporate credit portfolios. Ms. Goss joined Pretium in 2019 and has over thirty years-experience managing high yield, leveraged loan and CLO investments. She joined Pretium from DFG Investment Advisers where she ran their $4 billion CLO platform. Ms. Goss spent 14 years at Goldman Sachs, most recently as the co-head of the high yield and bank loan business for Goldman Sachs Asset Management. Earlier in her career she worked on a proprietary desk in London managing high yield and leveraged loan investments for Saudi International Bank (an affiliate of JP Morgan). Ms. Goss is a member of Pretium’s Executive Committee. She received a BComm from Mount Allison University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 16.44 5.27 2.59