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Trending ETFs

Name

As of 06/18/2024

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

$10.09

$131 M

2.56%

$0.26

0.60%

Vitals

YTD Return

-0.6%

1 yr return

2.3%

3 Yr Avg Return

-1.0%

5 Yr Avg Return

15.6%

Net Assets

$131 M

Holdings in Top 10

21.3%

52 WEEK LOW AND HIGH

$10.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.60%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 7.97%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$10,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/18/2024

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

$10.09

$131 M

2.56%

$0.26

0.60%

BBNTX - Profile

Distributions

  • YTD Total Return -0.6%
  • 3 Yr Annualized Total Return -1.0%
  • 5 Yr Annualized Total Return 15.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.59%
DIVIDENDS
  • Dividend Yield 2.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    STERLING CAPITAL NORTH CAROLINA INTERMEDIATE TAX-FREE FUND
  • Fund Family Name
    Sterling Capital Funds
  • Inception Date
    Jun 17, 1994
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Millikan

Fund Description

As a matter of fundamental policy, the Fund will invest, under normal market conditions, at least 80% of its net assets plus borrowings for investment purposes in investments the income from which is exempt from federal income tax, alternative minimum tax, and North Carolina personal income tax (“North Carolina Tax-Exempt Obligations”). The Fund invests, under normal market conditions, primarily in municipal securities of the State of North Carolina and its political subdivisions that provide income exempt from both federal personal income tax and North Carolina personal income tax. Municipal securities in which the Fund will invest include municipal notes and bonds, general obligation bonds, special revenue bonds, private activity bonds, lease obligations, certificates of participation, variable rate demand notes, and tax-exempt commercial paper. The Fund invests in North Carolina municipal securities only if they are “investment grade” (rated at the time of purchase in one of the four highest rating categories by a nationally recognized statistical rating organization, or are determined by the portfolio manager to be of comparable quality). The Fund will maintain an average duration of 3.5 to 8 years. The Fund’s dollar-weighted average maturity is expected to be more than 3 years but less than 10 years. Duration is the expected life of a fixed income security and is used to determine the sensitivity of the security’s price to changes in interest rates. Maturity merely measures the time until final payment is due. Unlike maturity, duration accounts for the time until all payments of interest and principal on a security are expected to be made, including how these payments are affected by prepayments and by changes in interest rates.

In managing the Fund’s portfolio, the portfolio manager uses a “top down” investment management approach focusing on interest rates and credit quality. The portfolio manager sets, and continually adjusts, a target for the interest rate sensitivity of the Fund’s portfolio based on expectations about interest rate movements. The portfolio manager then selects securities consistent with this target based on their individual characteristics.

The portfolio manager may consider selling a security owned by the Fund to reposition the Fund along the yield curve, to adjust the Fund’s average maturity or duration, to replace a security with one that the portfolio manager believes offers greater total return potential, or to exit a security whose credit fundamentals are deteriorating.

The Fund is non-diversified and, therefore, may invest in a limited number of issuers.

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BBNTX - Performance

Return Ranking - Trailing

Period BBNTX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.6% -3.1% 16.8% 93.31%
1 Yr 2.3% -1.6% 29.4% 91.94%
3 Yr -1.0%* -11.1% 2.9% 48.94%
5 Yr 15.6%* -6.4% 1102.2% 2.01%
10 Yr 8.8%* -0.6% 248.4% 2.08%

* Annualized

Return Ranking - Calendar

Period BBNTX Return Category Return Low Category Return High Rank in Category (%)
2023 1.5% -1.4% 41.0% 87.95%
2022 -7.7% -39.7% 0.3% 17.70%
2021 -1.8% -5.6% 6.9% 95.88%
2020 2.6% -2.6% 310.0% 14.82%
2019 3.5% 0.0% 26.0% 61.03%

Total Return Ranking - Trailing

Period BBNTX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.6% -3.1% 16.8% 93.31%
1 Yr 2.3% -1.6% 29.4% 91.94%
3 Yr -1.0%* -11.1% 2.9% 48.94%
5 Yr 15.6%* -6.4% 1102.2% 2.01%
10 Yr 8.8%* -0.6% 248.4% 2.08%

* Annualized

Total Return Ranking - Calendar

Period BBNTX Return Category Return Low Category Return High Rank in Category (%)
2023 3.9% -1.3% 41.0% 86.51%
2022 -5.7% -39.7% 1.1% 17.04%
2021 -0.1% -4.8% 23761504.0% 89.56%
2020 109.6% -1.5% 17057.9% 1.77%
2019 5.9% 0.2% 3514.6% 65.15%

NAV & Total Return History


BBNTX - Holdings

Concentration Analysis

BBNTX Category Low Category High BBNTX % Rank
Net Assets 131 M 3.22 M 71.9 B 80.88%
Number of Holdings 87 2 13067 89.93%
Net Assets in Top 10 28 M -317 M 3.56 B 80.70%
Weighting of Top 10 21.31% 2.0% 100.2% 35.37%

Top 10 Holdings

  1. City of Raleigh NC Combined Enterprise System Revenue 2.55%
  2. State of North Carolina 2.42%
  3. State of North Carolina 2.42%
  4. City of Charlotte NC Water Sewer System Revenue 2.30%
  5. State of North Carolina 2.11%
  6. North Carolina Medical Care Commission 1.95%
  7. City of Raleigh NC 1.92%
  8. City of Concord NC 1.92%
  9. City of Charlotte NC 1.90%
  10. City of Wilmington NC 1.82%

Asset Allocation

Weighting Return Low Return High BBNTX % Rank
Bonds
98.48% 0.00% 150.86% 55.71%
Cash
1.52% -50.86% 46.80% 42.50%
Stocks
0.00% 0.00% 99.81% 15.19%
Preferred Stocks
0.00% 0.00% 0.56% 3.83%
Other
0.00% -3.18% 33.35% 17.02%
Convertible Bonds
0.00% 0.00% 0.93% 3.85%

Bond Sector Breakdown

Weighting Return Low Return High BBNTX % Rank
Municipal
90.44% 44.39% 100.00% 93.67%
Cash & Equivalents
0.39% 0.00% 46.24% 43.60%
Derivative
0.00% -3.18% 19.67% 11.37%
Securitized
0.00% 0.00% 5.93% 4.83%
Corporate
0.00% 0.00% 9.41% 21.33%
Government
0.00% 0.00% 52.02% 11.35%

Bond Geographic Breakdown

Weighting Return Low Return High BBNTX % Rank
US
98.48% 0.00% 142.23% 53.48%
Non US
0.00% 0.00% 23.89% 8.25%

BBNTX - Expenses

Operational Fees

BBNTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.60% 0.01% 20.65% 66.97%
Management Fee 0.35% 0.00% 1.20% 24.42%
12b-1 Fee 0.00% 0.00% 1.00% 2.09%
Administrative Fee 0.11% 0.01% 0.44% 46.54%

Sales Fees

BBNTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

BBNTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

BBNTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 7.97% 0.00% 283.00% 12.86%

BBNTX - Distributions

Dividend Yield Analysis

BBNTX Category Low Category High BBNTX % Rank
Dividend Yield 2.56% 0.00% 14.51% 79.68%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

BBNTX Category Low Category High BBNTX % Rank
Net Income Ratio 1.59% -0.53% 5.33% 67.19%

Capital Gain Distribution Analysis

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

Distributions History

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BBNTX - Fund Manager Analysis

Managers

Robert Millikan


Start Date

Tenure

Tenure Rank

Feb 01, 2000

22.34

22.3%

Robert F. Millikan, CFA, Executive Director, joined BB&T Asset Management in 2000 and Sterling Capital Management through merger in October 2010. He has investment experience since 1990. Bob is responsible for managing the state-specific municipal bond fund portfolios for Sterling Capital Funds as well as for the tax-free funds’ investment policy, research and management. Prior to joining BB&T, he worked for First Citizens Bank as Vice President and Fixed Income Portfolio Manager for both taxable and tax-exempt accounts. Bob is a graduate of Wake Forest University where he received his BA in Economics. He is a past President of the North Carolina Society of Financial Analysts and also a past Chairman of the Board of Directors for the Carolinas Municipal Advisory Council. He is a CFA charterholder. He is currently serving on the CFA North Carolina Strategic Advisory Board.

Mike McVicker


Start Date

Tenure

Tenure Rank

Feb 01, 2016

6.33

6.3%

Mr. McVicker is an Executive Director and Senior Municipal Credit Analyst with additional responsibilities for credits that crossover into the taxable market with Sterling Capital. He joined Sterling Capital in 1992. Prior to joining the fixed income team, he was Sterling’s Director of Operations managing the client reporting and performance team. He has investment experience since 1992 and holds a B.S.B.A. in Finance with a minor in Psychology from the University of North Carolina – Charlotte.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58