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Name

As of

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Salient High Yield Fund

AHBAX |

-

$15 M

-

0.85%

Vitals

YTD Return

N/A

1 yr return

15.8%

3 Yr Avg Return

3.0%

5 Yr Avg Return

5.6%

Net Assets

$15 M

Holdings in Top 10

36.1%

52 WEEK LOW AND HIGH

N/A
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.85%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 178.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

$100,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Salient High Yield Fund

AHBAX |

-

$15 M

-

0.85%

AHBAX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return 3.0%
  • 5 Yr Annualized Total Return 5.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.95%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Salient High Yield Fund
  • Fund Family Name
    Salient Funds
  • Inception Date
    May 01, 2000
  • Shares Outstanding
    739661
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    James P. Sivco

Fund Description

AHBAX - Performance

Return Ranking - Trailing

Period AHBAX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -9.3% 23.9% N/A
1 Yr 15.8% -9.4% 5.6% N/A
3 Yr 3.0%* -6.5% 8.5% N/A
5 Yr 5.6%* -8.6% 2.2% N/A
10 Yr 5.9%* -13.4% 4.4% N/A

* Annualized

Return Ranking - Calendar

Period AHBAX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -23.1% -0.4% N/A
2022 N/A -9.5% 28.5% N/A
2021 N/A -14.4% 28.6% N/A
2020 N/A -34.3% 1.0% N/A
2019 N/A -23.1% 27.7% N/A

Total Return Ranking - Trailing

Period AHBAX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -9.3% 23.9% N/A
1 Yr 15.8% -9.4% 6.8% N/A
3 Yr 3.0%* -6.5% 11.2% N/A
5 Yr 5.6%* -7.8% 6.2% N/A
10 Yr 5.9%* -13.4% 8.6% N/A

* Annualized

Total Return Ranking - Calendar

Period AHBAX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -23.1% 1.3% N/A
2022 N/A -4.9% 36.8% N/A
2021 N/A -14.4% 39.0% N/A
2020 N/A -28.3% 4.3% N/A
2019 N/A -21.8% 27.7% N/A

AHBAX - Holdings

Concentration Analysis

AHBAX Category Low Category High AHBAX % Rank
Net Assets 15 M 1.02 M 25 B N/A
Number of Holdings 23 6 1547 N/A
Net Assets in Top 10 21 M -1.5 M 3.71 B N/A
Weighting of Top 10 36.14% 5.1% 99.6% N/A

Top 10 Holdings

  1. US Treasury Bond 2.875% 6.64%
  2. US Treasury Bond 2.25% 4.34%
  3. Halcon Resources Corp 3.95%
  4. Owens Brockway 144A 5.375% 3.49%
  5. Sandridge Engy 144A 8.75% 3.41%
  6. Calpine 5.375% 3.34%
  7. Teck Resources 6.25% 2.92%
  8. SandRidge Energy Inc 2.72%
  9. Equinix 5.75% 2.72%
  10. Polyone 5.25% 2.59%

Asset Allocation

Weighting Return Low Return High AHBAX % Rank
Cash 		51.38% -3.02% 117.48% N/A
Bonds 		41.66% -17.48% 100.06% N/A
Stocks 		6.95% -0.44% 99.77% N/A
Preferred Stocks 		0.00% 0.00% 11.13% N/A
Other 		0.00% -1.24% 11.36% N/A
Convertible Bonds 		0.00% 0.00% 11.82% N/A

Stock Sector Breakdown

Weighting Return Low Return High AHBAX % Rank
Energy 		6.95% -0.06% 2.74% N/A
Utilities 		0.00% -0.04% 1.62% N/A
Technology 		0.00% -0.17% 30.62% N/A
Real Estate 		0.00% -0.03% 3.03% N/A
Industrials 		0.00% 0.00% 13.99% N/A
Healthcare 		0.00% 0.00% 14.35% N/A
Financial Services 		0.00% -0.03% 17.51% N/A
Communication Services 		0.00% -0.04% 2.00% N/A
Consumer Defense 		0.00% -0.09% 4.47% N/A
Consumer Cyclical 		0.00% -0.14% 15.44% N/A
Basic Materials 		0.00% 0.00% 1.36% N/A

Stock Geographic Breakdown

Weighting Return Low Return High AHBAX % Rank
US 		6.95% -0.43% 50.95% N/A
Non US 		0.00% -0.01% 48.82% N/A

Bond Sector Breakdown

Weighting Return Low Return High AHBAX % Rank
Cash & Equivalents 		51.38% -1.24% 117.48% N/A
Corporate 		25.94% 0.00% 100.08% N/A
Government 		10.98% -5.69% 65.95% N/A
Derivative 		3.20% -17.48% 8.43% N/A
Securitized 		0.00% 0.00% 60.24% N/A
Municipal 		0.00% 0.00% 100.03% N/A

Bond Geographic Breakdown

Weighting Return Low Return High AHBAX % Rank
US 		36.82% -17.48% 99.77% N/A
Non US 		4.84% 0.00% 53.13% N/A

AHBAX - Expenses

Operational Fees

AHBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.85% 0.00% 6.42% N/A
Management Fee 0.50% 0.00% 1.00% N/A
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.07% 0.01% 0.45% N/A

Sales Fees

AHBAX 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% 5.50% N/A

Trading Fees

AHBAX 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.

AHBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 178.00% 5.00% 1334.00% N/A

AHBAX - Distributions

Dividend Yield Analysis

AHBAX Category Low Category High AHBAX % Rank
Dividend Yield 0.00% 0.00% 4.50% N/A

Dividend Distribution Analysis

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

Net Income Ratio Analysis

AHBAX Category Low Category High AHBAX % Rank
Net Income Ratio 5.95% -1.92% 7.22% N/A

Capital Gain Distribution Analysis

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

Distributions History

View More +

AHBAX - Fund Manager Analysis

Managers

James P. Sivco

Start Date

Tenure

Tenure Rank

Jan 04, 2016

1.08

1.1%

James P. Sivco, CFA. Mr. Sivco, Senior Portfolio Manager, has been with Forward Management since January 2016. Mr. Sivco has also been with Salient since December 2005 where he was named a Senior Portfolio Manager in August 2015 and named Chief Investment Strategist in July 2013. From December 2005 to July 2013, he was a Portfolio Manager at Salient. Mr. Sivco leads the investment team of the Forward High Yield Bond Fund. Mr. Sivco is a Chartered Financial Analyst.

David C. Hinman

Start Date

Tenure

Tenure Rank

Jan 04, 2016

1.08

1.1%

Mr. Hinman is a Managing Principal and Chief Investment Officer of SW, and has held this position since July 2009. Prior to founding SW, Mr. Hinman was Managing Director and Global Head of Credit for Drake Management LLC (September 2006 to July 2009), a Portfolio Manager for Ares Capital Corporation (March 2005 to June 2006), and a Portfolio Manager for Pacific Investment Management Company LLC (PIMCO) (July 1995 to February 2005). Mr. Hinman is a Chartered Financial Analyst and holds an MBA in Finance from The University of Pennsylvania. Mr. Hinman has managed the Fund since February 2011.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.0 34.87 6.64 0.0

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