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Name

As of 04/17/2024

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

Carillon Reams Unconstrained Bond Fund

SUBFX | Fund

$11.95

$1.43 B

0.00%

0.76%

Vitals

YTD Return

-1.2%

1 yr return

2.3%

3 Yr Avg Return

0.4%

5 Yr Avg Return

3.4%

Net Assets

$1.43 B

Holdings in Top 10

84.0%

52 WEEK LOW AND HIGH

$11.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.76%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$10,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/17/2024

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

Carillon Reams Unconstrained Bond Fund

SUBFX | Fund

$11.95

$1.43 B

0.00%

0.76%

SUBFX - Profile

Distributions

  • YTD Total Return -1.2%
  • 3 Yr Annualized Total Return 0.4%
  • 5 Yr Annualized Total Return 3.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.92%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Carillon Reams Unconstrained Bond Fund
  • Fund Family Name
    Carillon Family of Funds
  • Inception Date
    Sep 29, 2011
  • Shares Outstanding
    85139177
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Todd Thompson

Fund Description

The fund pursues its objective by investing at least 80% of its net assets in fixed income instruments. The fixed income instruments in which the fund may invest can be of varying maturities and include bonds, debt securities, mortgage- and asset-backed securities (including to-be-announced securities), collateralized loan obligations (“CLOs”) and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities. The portfolio duration of the fund will normally not exceed eight years but may be greater based on market conditions. The fund may also have a negative duration. Duration is a measure used to determine the sensitivity of a security’s price to changes in interest rates. The longer a security’s duration, the more sensitive it will be to changes in interest rates. A portfolio with negative duration generally incurs a loss when interest rates and yields fall. For purposes of calculating the fund’s portfolio duration, the fund includes the effect of the derivative instruments held by the fund.
In certain market conditions, the fund may pursue its investment objective by investing a significant portion of its assets in cash or short-term debt obligations. The fund may invest in both investment grade securities and non-investment grade securities, also known as high yield securities or “junk” bonds. The fund may invest without limitation in non-investment grade securities. Investment grade securities include securities rated in one of the four highest rating categories by a nationally recognized statistical rating organization, such as BBB- or higher by Standard & Poor’s Financial Services LLC (“S&P®”). The fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis and may engage in short sales. The fund may without limitation seek to obtain market exposure to the securities in which it primarily invests by entering into buybacks or dollar rolls. The fund may also invest without limitation in securities denominated in foreign currencies and in U.S. dollar denominated securities of foreign issuers. Mortgage-backed securities are pools of mortgage loans that are assembled as securities for sale to investors by various governmental, government-related and private organizations. Asset-backed securities are securities that are secured or “backed” by pools of various types of assets, such as automobile loans, consumer loans, credit cards and equipment leases, on which cash payments are due at fixed intervals over set periods of time. CLOs are a type of securitized debt, ordinarily issued by a trust or other special purpose entity, and are typically collateralized by a pool of loans, which may include, among others, domestic and foreign senior secured loans, senior unsecured loans, and subordinate corporate loans, including loans that may be rated below investment grade. The fund may invest in fixed income securities with call features.
The fund may invest in derivative instruments, such as options (including options on futures contracts), futures contracts (including interest rate, bond, U.S. Treasury and fixed income index futures contracts), currency and other forwards, including non-deliverable forwards (“NDFs”), and swap agreements (including credit default swaps) subject to applicable law and any other restrictions described in the fund’s Prospectus or Statement of Additional Information (“SAI”). The fund’s investment in credit default swap agreements may include both single-name credit default swap agreements and credit default swap index products, such as CDX index products. The use of these derivative transactions may allow the fund to obtain net long or short exposures to select currencies, interest rates, countries, durations or credit risks. These derivatives may be used to enhance fund returns, increase liquidity, manage the duration of the fund’s portfolio and/or gain exposure to certain instruments or markets (i.e., the corporate bond market) in a more efficient or less expensive way. The credit default swap agreements that the fund invests in may provide exposure to an index of securities representative of the entire investment grade and high yield fixed income markets, which can include underlying issuers rated as low as CCC by S&P®. Derivative instruments that provide exposure to fixed income instruments may be used to satisfy the fund’s 80% investment policy. For the purposes of the fund’s 80% investment policy, the fund’s derivatives investments, other than credit default swaps where the fund is a protection seller, are valued at market value. Credit default swaps where the fund is a protection seller are valued at notional value.
The portfolio management team attempts to maximize total return by pursuing relative value opportunities throughout all sectors of the fixed income market. The portfolio managers screen hundreds of securities to determine how each will perform in various interest rate environments. The portfolio managers construct these scenarios by considering the outlook for interest rates, fundamental credit analysis and option-adjusted spread analysis. The portfolio managers compare these investment opportunities and assemble the fund’s portfolio from the best available values. The portfolio management team constantly monitors the expected returns of the securities in the fund versus those available in the market and of other securities the portfolio management team is considering for purchase. The portfolio management team’s strategy is to replace securities that it feels are approaching fair market value with those that, according to its analysis, are significantly undervalued. As a result of this strategy, the fund’s portfolio turnover rate will vary from year to year depending on market conditions and the fund may engage in frequent and active trading.
The fund may invest a substantial portion of its assets (more than 25%) in securities and instruments that are economically tied to one or more foreign countries if economic and business conditions warrant such investment. The fund will invest no more than 50% of its net assets in investments in developing countries or emerging markets.
The fund may lend its securities to broker-dealers and other financial institutions to earn additional income.
Read More

SUBFX - Performance

Return Ranking - Trailing

Period SUBFX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -12.7% 9.3% 77.28%
1 Yr 2.3% -9.6% 26.8% 82.53%
3 Yr 0.4%* -17.6% 17.9% 31.71%
5 Yr 3.4%* -13.4% 14.7% 12.05%
10 Yr 2.3%* -13.6% 6.5% 46.88%

* Annualized

Return Ranking - Calendar

Period SUBFX Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -12.0% 15.7% 31.48%
2022 -6.8% -31.8% 18.4% 18.04%
2021 -2.2% -26.6% 25.7% 65.20%
2020 7.8% -49.2% 18.7% 3.55%
2019 3.5% -35.1% 15.3% 67.62%

Total Return Ranking - Trailing

Period SUBFX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -12.7% 9.3% 77.28%
1 Yr 2.3% -9.6% 26.8% 82.53%
3 Yr 0.4%* -17.6% 17.9% 31.71%
5 Yr 3.4%* -13.4% 14.7% 12.05%
10 Yr 2.3%* -13.6% 6.5% 46.88%

* Annualized

Total Return Ranking - Calendar

Period SUBFX Return Category Return Low Category Return High Rank in Category (%)
2023 8.5% -7.0% 22.2% 38.73%
2022 -4.7% -31.8% 21.1% 24.53%
2021 -0.3% -13.5% 49.9% 81.54%
2020 11.2% -28.6% 24.1% 6.03%
2019 6.3% -4.8% 19.1% 76.57%

NAV & Total Return History

SUBFX - Holdings

Concentration Analysis

SUBFX Category Low Category High SUBFX % Rank
Net Assets 1.43 B 2.53 M 143 B 36.24%
Number of Holdings 152 4 9868 75.95%
Net Assets in Top 10 1.2 B -1.57 B 65.8 B 14.16%
Weighting of Top 10 84.01% 0.7% 170.6% 10.53%

Top 10 Holdings

  1. United States Treasury Bill 16.14%
  2. Fannie Mae or Freddie Mac 12.55%
  3. United States Treasury Inflation Indexed Bonds 10.16%
  4. Fannie Mae or Freddie Mac 9.59%
  5. United States Treasury Inflation Indexed Bonds 8.41%
  6. United States Treasury Bill 7.10%
  7. Fannie Mae or Freddie Mac 6.74%
  8. United States Treasury Inflation Indexed Bonds 5.92%
  9. United States Treasury Bill 4.04%
  10. Fannie Mae or Freddie Mac 3.36%

Asset Allocation

Weighting Return Low Return High SUBFX % Rank
Bonds 		121.49% -150.81% 203.29% 7.31%
Other 		6.62% -62.91% 100.00% 36.83%
Convertible Bonds 		0.60% 0.00% 33.50% 63.13%
Stocks 		0.00% -1.60% 99.88% 85.69%
Preferred Stocks 		0.00% 0.00% 30.46% 68.80%
Cash 		0.00% -94.66% 258.91% 96.65%

Bond Sector Breakdown

Weighting Return Low Return High SUBFX % Rank
Government 		47.21% 0.00% 99.43% 4.71%
Corporate 		19.85% 0.00% 96.66% 68.13%
Securitized 		7.40% 0.00% 99.65% 70.49%
Derivative 		0.84% -62.91% 37.37% 17.10%
Cash & Equivalents 		0.00% 0.00% 88.14% 96.95%
Municipal 		0.00% 0.00% 54.26% 63.11%

Bond Geographic Breakdown

Weighting Return Low Return High SUBFX % Rank
US 		121.49% -151.11% 203.29% 4.41%
Non US 		0.00% 0.00% 67.77% 80.52%

SUBFX - Expenses

Operational Fees

SUBFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.76% 0.01% 20.67% 77.85%
Management Fee 0.50% 0.00% 2.29% 23.72%
12b-1 Fee 0.00% 0.00% 1.00% 7.63%
Administrative Fee 0.10% 0.00% 0.70% 46.73%

Sales Fees

SUBFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SUBFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

SUBFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 632.00% 77.01%

SUBFX - Distributions

Dividend Yield Analysis

SUBFX Category Low Category High SUBFX % Rank
Dividend Yield 0.00% 0.00% 23.30% 63.50%

Dividend Distribution Analysis

SUBFX Category Low Category High Category Mod
Dividend Distribution Frequency None SemiAnnual Monthly Monthly

Net Income Ratio Analysis

SUBFX Category Low Category High SUBFX % Rank
Net Income Ratio 0.92% -1.55% 11.51% 93.66%

Capital Gain Distribution Analysis

SUBFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

Distributions History

View More +

SUBFX - Fund Manager Analysis

Managers

Todd Thompson

Start Date

Tenure

Tenure Rank

Sep 29, 2011

10.68

10.7%

Mr. Thompson joined Scout on November 30, 2010, when it acquired Reams Asset Management Company, LLC. He was a portfolio manager at Reams from July 2001 until November 2010. Mr. Thompson was a portfolio manager at Conseco Capital Management from 1999 until June 2001 and was a portfolio manager at the Ohio Public Employees Retirement System from 1994 until 1999.

Mark Egan

Start Date

Tenure

Tenure Rank

Sep 29, 2011

10.68

10.7%

Mark M. Egan joined Scout on November 30, 2010, when it acquired Reams Asset Management Company, LLC. He oversees the entire fixed income division of Scout, and retains oversight over all investment decisions. Mr. Egan was a portfolio manager of Reams Asset Management Company, LLC (“Reams”) from April 1994 until November 2010 and was a portfolio manager of Reams Asset Management Company, Inc. from June 1990 until March 1994. Mr. Egan was a portfolio manager of National Investment Services until May 1990. He is a CFA® charterholder and a member of the CFA® Institute.

Clark Holland

Start Date

Tenure

Tenure Rank

Oct 31, 2014

7.59

7.6%

Clark W. Holland, CFA, joined the Scout Investments, Inc. on November 30, 2010 and became a portfolio manager in October 2014. He was a portfolio analyst at the Advisor from December 2010 until October 2014 and at Reams from February 2002 until November 2010. Prior to joining the firm, Mr. Holland was a portfolio manager and investment product specialist at Wells Fargo Investment Management Group. He is a CFA® charterholder and a member of the CFA Institute.

Jason Hoyer

Start Date

Tenure

Tenure Rank

Apr 01, 2018

4.17

4.2%

Mr. Hoyer joined Scout on April 20, 2015 as a fixed income credit analyst and became a portfolio manager effective April 1, 2018. Prior to joining Reams, the fixed income division of Scout, in 2015, Mr. Hoyer was a senior credit analyst at 40 | 86 Advisors and a director in the research department at Fiduciary Management Associates. He is a CFA® charterholder and a member of the CFA® Institute.

Tilak Silva

Start Date

Tenure

Tenure Rank

Mar 05, 2021

1.24

1.2%

Mr. Silva will join Scout in March 2021 as a portfolio manager. Prior to joining the firm, Mr. Silva was a portfolio manager at AllianceBerstein, L.P., since 2013 and lead portfolio manager since 2018. He is a CFA® charterholder and a member of the CFA® Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19

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