ALNRX: AC Alternatives® Income R

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ALNRX AC Alternatives® Income R


Profile

ALNRX - Profile

Vitals

  • YTD Return -17.2%
  • 3 Yr Annualized Return -6.6%
  • 5 Yr Annualized Return N/A
  • Net Assets $146 M
  • Holdings in Top 10 41.2%

52 WEEK LOW AND HIGH

$7.93
$7.18
$9.73

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.52%

SALES FEES

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

BROKERAGE FEES

  • Turnover 111.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Allocation--15% to 30% Equity

Distributions

  • YTD Total Return -17.2%
  • 3 Yr Annualized Total Return -5.2%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.93%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    AC Alternatives® Income Fund
  • Fund Family Name
    American Century Investments
  • Inception Date
    Jul 31, 2015
  • Shares Outstanding
    2790
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Kent Muckel

Fund Description

The fund pursues its investment objective by focusing on a variety of non-traditional or "alternative" investment strategies that generate current income and will invest primarily in income-generating securities. The fund combines several distinct strategies designed to capture current yield from a variety of income producing securities.


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Categories

ALNRX - Mutual Fund Categories


Performance

ALNRX - Performance

Return Ranking - Trailing

Period ALNRX Return Category Return Low Category Return High Rank in Category (%)
YTD -17.2% -43.9% 24.2% 95.88%
1 Yr -18.1% -51.9% 30.7% 95.83%
3 Yr -6.6%* -27.8% 12.9% 95.14%
5 Yr N/A* -26.8% 11.3% N/A
10 Yr N/A* -29.7% 12.8% N/A

* Annualized

Return Ranking - Calendar

Period ALNRX Return Category Return Low Category Return High Rank in Category (%)
2019 2.5% -42.4% 46.8% 92.98%
2018 -4.5% -31.8% 8.2% 7.89%
2017 3.1% -39.6% 46.3% 80.62%
2016 1.8% -29.9% 420.6% 71.14%
2015 N/A -40.7% 14.6% N/A

Total Return Ranking - Trailing

Period ALNRX Return Category Return Low Category Return High Rank in Category (%)
YTD -17.2% -43.9% 24.2% 95.88%
1 Yr -18.1% -51.9% 30.7% 95.83%
3 Yr -5.2%* -27.8% 12.9% 94.21%
5 Yr N/A* -26.8% 11.3% N/A
10 Yr N/A* -29.7% 13.5% N/A

* Annualized

Total Return Ranking - Calendar

Period ALNRX Return Category Return Low Category Return High Rank in Category (%)
2019 2.5% -42.4% 46.8% 93.09%
2018 -1.9% -27.6% 8.2% 6.00%
2017 5.2% -39.6% 46.3% 81.33%
2016 6.2% -29.9% 420.6% 46.10%
2015 N/A -36.9% 14.6% N/A

NAV & Total Return History


Holdings

ALNRX - Holdings

Concentration Analysis

ALNRX Category Low Category High ALNRX % Rank
Net Assets 146 M 100 K 153 B 65.05%
Number of Holdings 303 2 13456 37.83%
Net Assets in Top 10 15.6 M -35.2 M 27.1 B 83.07%
Weighting of Top 10 41.18% 5.5% 100.0% 50.16%

Top 10 Holdings

  1. Bdx.Hy.31 Cds Usd R V 03mevent Cdx.Hy.31._pro Ccpcdx 9.84%
  2. Bdx.Hy.31 Cds Usd P F 5.00000 Cdx.Hy.31._fee Ccpcdx 9.38%
  3. 10 Year Treasury Note Future June 20 9.37%
  4. E-Mini Russ 2000 Jun20 Xcme 20200619 3.36%
  5. iShares MBS ETF 2.26%
  6. SPDR® S&P 500 ETF Trust 1.81%
  7. iShares iBoxx $ High Yield Corp Bd ETF 1.67%
  8. BX TRUST 2.85% 1.22%
  9. Onemain Financial Issuance Trust 4.52% 1.13%
  10. XAK TECHNOLOGY JUN20 XCME 20200619 1.13%

Asset Allocation

Weighting Return Low Return High ALNRX % Rank
Bonds
73.45% -7.02% 80.79% 6.79%
Cash
17.55% -120.83% 149.68% 13.79%
Stocks
8.55% -113.74% 77.36% 90.49%
Preferred Stocks
1.12% 0.00% 36.61% 18.70%
Other
0.00% -4.42% 167.50% 58.73%
Convertible Bonds
-0.67% -0.67% 52.57% 99.58%

Stock Sector Breakdown

Weighting Return Low Return High ALNRX % Rank
Real Estate
45.42% 0.00% 99.96% 1.98%
Industrials
18.54% 0.00% 99.44% 2.86%
Consumer Cyclical
9.45% 0.00% 76.72% 47.91%
Technology
6.33% 0.00% 100.00% 91.43%
Utilities
4.88% 0.00% 100.00% 27.69%
Financial Services
4.61% 0.00% 60.94% 92.20%
Basic Materials
3.60% 0.00% 22.59% 30.77%
Healthcare
3.04% 0.00% 54.35% 92.53%
Communication Services
2.30% 0.00% 26.69% 89.45%
Energy
1.83% 0.00% 100.00% 83.41%
Consumer Defense
0.00% 0.00% 18.73% 94.95%

Stock Geographic Breakdown

Weighting Return Low Return High ALNRX % Rank
US
7.97% -112.30% 75.95% 89.24%
Non US
0.58% -3.33% 31.77% 85.58%

Bond Sector Breakdown

Weighting Return Low Return High ALNRX % Rank
Securitized
37.98% 0.00% 85.82% 10.66%
Corporate
26.87% 0.00% 100.00% 63.74%
Cash & Equivalents
16.90% -3.87% 100.00% 34.06%
Derivative
9.35% 0.00% 69.90% 6.17%
Government
8.90% 0.00% 90.31% 78.06%
Municipal
0.00% 0.00% 99.50% 52.46%

Bond Geographic Breakdown

Weighting Return Low Return High ALNRX % Rank
US
57.93% -8.49% 88.92% 16.82%
Non US
15.52% -14.78% 29.41% 1.88%

Expenses

ALNRX - Expenses

Operational Fees

ALNRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.52% 0.01% 7.41% 6.73%
Management Fee 1.70% 0.00% 2.00% 98.33%
12b-1 Fee 0.50% 0.00% 1.00% 63.06%
Administrative Fee N/A 0.01% 0.83% N/A

Sales Fees

ALNRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

ALNRX 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.

ALNRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 111.00% 0.00% 574.00% 80.24%

Distributions

ALNRX - Distributions

Dividend Yield Analysis

ALNRX Category Low Category High ALNRX % Rank
Dividend Yield 0.00% 0.00% 10.09% 19.23%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

ALNRX Category Low Category High ALNRX % Rank
Net Income Ratio 2.93% -5.24% 6.65% 13.92%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

ALNRX - Fund Manager Analysis

Managers

Kent Muckel


Start Date

Tenure

Tenure Rank

Jul 31, 2015

4.75

4.8%

Mr. Muckel is a Partner at Perella Weinberg Partners Capital Management LP and leads the public equity and fixed-income efforts on the Agility platform. Mr. Muckel joined PWP in 2010. Prior to joining PWP, Mr. Muckel was the Chief Investment Officer for Baylor University in 2009. He has a bachelor’s degree in finance with honors from the University of Colorado and an MBA from the Daniels School of Business at the University of Denver. He is a CFA charterholder.

Darren Myers


Start Date

Tenure

Tenure Rank

Jul 31, 2015

4.75

4.8%

Mr. Myers is a Partner and Managing Director at PWP and leads the absolute return investment efforts for the Agility platform. Mr. Myers joined PWP in 2007. Prior to joining PWP, he served as a Senior Research Analyst at Tejas Securities Group, Inc. from 2004 to 2007, where he provided investment recommendations on special situation and distressed debt opportunities. He holds a bachelor’s degree and an MBA from the University of Texas at Austin. He is a CFA charterholder.

Cleo Chang


Start Date

Tenure

Tenure Rank

Mar 01, 2017

3.17

3.2%

Ms. Chang, Senior Vice President and Head of Investment Solutions, has managed the fund since 2017. She joined American Century Investments in 2015. From 2005 to 2015, Ms. Chang served as the Managing Director and Vice President at Wilshire Associates Inc. She earned an MBA from the Marshall School of Business, University of Southern California, and received a bachelor’s degree in economics from the University of California, Berkeley.

Hitesh Patel


Start Date

Tenure

Tenure Rank

Jun 01, 2018

1.92

1.9%

Mr. Patel, Vice President and Portfolio Manager, has managed the fund since 2018. He joined American Century Investments in 2018. From 2014 to 2018, Mr. Patel served as a Senior Alternatives Specialist within the Fund Derivatives Structuring and Financing team at UBS Securities. From 2010 to 2013, he was the Director and Head of Americas Origination and Content for the UBS Liquid Alpha Managed Account and UCITS Platform. He received a bachelor’s degree in economics from Yale University. He is a CFA charterholder. The advisor has, in turn, hired PWP to make recommendations regarding underlying subadvisor selection as well as day-to-day investment management and asset allocation. PWP performs this function under the supervision of the advisor and the general oversight of the fund’s Board of Directors. The portfolio managers who are jointly and primarily responsible for the day-to-day management of the fund are identified below. Responsibility for research, security selection and portfolio construction for portions of the fund may be allocated among the underlying subadvisors. Overall responsibility for coordinating the fund’s activities, including recommending appropriate asset allocations, reviewing overall fund composition and monitoring cash flows, is shared by the following portfolio managers.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.35 6.97 0.33