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Trending ETFs

Name

As of 05/17/2024

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

$9.05

$147 M

4.42%

$0.40

1.00%

Vitals

YTD Return

-0.1%

1 yr return

6.0%

3 Yr Avg Return

-2.5%

5 Yr Avg Return

1.3%

Net Assets

$147 M

Holdings in Top 10

12.4%

52 WEEK LOW AND HIGH

$9.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.00%

SALES FEES

Front Load 3.00%

Deferred Load N/A

TRADING FEES

Turnover 104.00%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$2,500

IRA

$2,500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/17/2024

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

$9.05

$147 M

4.42%

$0.40

1.00%

CPUAX - Profile

Distributions

  • YTD Total Return -0.1%
  • 3 Yr Annualized Total Return -2.5%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.60%
DIVIDENDS
  • Dividend Yield 4.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AAM/Insight Select Income Fund
  • Fund Family Name
    INVESTMENT MANAGERS SERIES TRUST
  • Inception Date
    Apr 19, 2013
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Gautam Khanna

Fund Description

The Fund invests in a diversified basket of debt securities designed to generate a high rate of current income. The Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in bonds such as:

U.S. corporate debt obligations,
Non-U.S. corporate and sovereign debt obligations (including emerging markets),
Residential and commercial mortgage-backed securities,
Asset-backed securities,
U.S. Government securities (securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities), and
Convertible bonds.

The Fund primarily invests in bonds rated investment grade (that is, securities rated in the “Baa”/“BBB” categories or above by a nationally recognized statistical rating organization (“NRSRO”) or, if unrated, determined to be of comparable credit quality by the Fund’s advisor or sub-advisor) at the time of purchase. However, the Fund may invest up to 25% of its total assets in lower rated fixed-income securities (also called “high yield bonds” or “junk bonds”) or, if unrated, determined to be of comparable credit quality by the Fund’s advisor or sub-advisor.

The Fund may invest in domestic master limited partnerships (“MLPs”) and real estate investment trusts (“REITs”). MLPs are publicly traded companies organized as limited partnerships or limited liability companies and treated as partnerships for federal income tax purposes. REITs are pooled investment vehicles that invest primarily in income producing real estate or real estate related loans or interests. For the purposes of achieving the Fund’s investment objective and hedging risk, the Fund may also invest in exchange-traded funds (“ETFs”) and in derivative instruments, including futures and options on futures (including those relating to securities, foreign currencies, indices and interest rates), swaps (including total return, equity, currency, interest rate and credit default swaps), forward contracts (including foreign currency forward contracts) and to be announced (“TBA”) securities.

The Fund may invest in preferred stocks which may be convertible into or may be accompanied by warrants or other equity securities. Any such securities may be of lower quality and may not be rated by any NRSRO. All warrants remaining after sale of the securities to which they were attached and common stocks acquired on conversion or exercise of warrants are considered to comprise this part of the Fund’s portfolio. Any such warrants or common stocks may be held until a long-term holding period has been established for tax purposes, after which they ordinarily will be sold.

The Fund’s sub-advisor focuses on a relative value strategy. The sub-advisor seeks to identify opportunities to purchase securities with high risk-adjusted yields across various fixed income sectors in order to maintain and increase income, and therefore the Fund’s dividend payment to its investors. From time to time, the Fund may invest a larger percentage of its net assets in one or more sectors, including the financial sector.

The sub-advisor expects that the Fund’s duration will remain between four and eight years; however, the Fund’s duration may be lengthened or shortened depending on market conditions. Duration is a measure of the expected life of a debt security that is used to determine the sensitivity of the security’s price to changes in interest rates. Generally, the longer the Fund’s duration, the more sensitive the Fund will be to changes in interest rates.

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CPUAX - Performance

Return Ranking - Trailing

Period CPUAX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -3.6% 4.4% 24.43%
1 Yr 6.0% -0.1% 10.4% 30.11%
3 Yr -2.5%* -9.9% 40.0% 45.71%
5 Yr 1.3%* -4.0% 26.3% 47.17%
10 Yr 2.3%* -0.4% 14.0% 42.00%

* Annualized

Return Ranking - Calendar

Period CPUAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.6% -5.6% 6.3% 35.80%
2022 -19.4% -28.7% 142.1% 76.57%
2021 -3.2% -12.3% 4.9% 14.53%
2020 5.9% -8.0% 10.6% 45.24%
2019 11.0% 4.3% 13.4% 22.78%

Total Return Ranking - Trailing

Period CPUAX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -3.6% 4.4% 24.43%
1 Yr 6.0% -0.1% 10.4% 30.11%
3 Yr -2.5%* -9.9% 40.0% 45.71%
5 Yr 1.3%* -4.0% 26.3% 47.17%
10 Yr 2.3%* -0.4% 14.0% 42.00%

* Annualized

Total Return Ranking - Calendar

Period CPUAX Return Category Return Low Category Return High Rank in Category (%)
2023 8.6% -5.6% 12.9% 48.86%
2022 -16.5% -25.6% 151.8% 69.14%
2021 -0.4% -5.1% 7.5% 36.63%
2020 9.9% -8.0% 116.0% 57.14%
2019 14.3% 6.7% 17.4% 44.94%

NAV & Total Return History


CPUAX - Holdings

Concentration Analysis

CPUAX Category Low Category High CPUAX % Rank
Net Assets 147 M 5.45 M 47.3 B 78.98%
Number of Holdings 364 4 10179 69.89%
Net Assets in Top 10 17.2 M -29.6 M 3.67 B 79.55%
Weighting of Top 10 12.37% 1.5% 143.5% 50.00%

Top 10 Holdings

  1. United States Treasury Note 2.33%
  2. United States Treasury Bond 1.88%
  3. Bank of America Corp. 1.16%
  4. JPMorgan Chase Co. 1.13%
  5. Morgan Stanley 1.13%
  6. Fortress Credit Opportunities IX CLO Ltd. 1.07%
  7. MetLife, Inc. 0.98%
  8. Goldman Sachs Group, Inc. 0.95%
  9. Flatiron CLO 18 Ltd. 0.88%
  10. MetLife, Inc. 0.85%

Asset Allocation

Weighting Return Low Return High CPUAX % Rank
Bonds
88.68% 0.00% 136.47% 93.18%
Other
7.11% -1.14% 13.53% 2.27%
Preferred Stocks
2.98% 0.00% 9.18% 5.11%
Convertible Bonds
2.47% 0.00% 78.47% 79.55%
Cash
1.23% -43.80% 45.81% 84.66%
Stocks
0.00% 0.00% 99.96% 23.30%

Bond Sector Breakdown

Weighting Return Low Return High CPUAX % Rank
Corporate
77.99% 41.80% 99.80% 73.30%
Securitized
14.52% 0.00% 23.18% 7.95%
Government
4.71% 0.00% 25.63% 56.25%
Cash & Equivalents
0.62% 0.00% 45.81% 76.14%
Derivative
0.28% -0.21% 2.35% 21.02%
Municipal
0.00% 0.00% 3.62% 65.91%

Bond Geographic Breakdown

Weighting Return Low Return High CPUAX % Rank
US
88.68% 0.00% 109.04% 86.93%
Non US
0.00% 0.00% 47.05% 28.98%

CPUAX - Expenses

Operational Fees

CPUAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.00% 0.02% 46.23% 29.31%
Management Fee 0.38% 0.00% 1.35% 50.57%
12b-1 Fee 0.25% 0.00% 1.00% 19.74%
Administrative Fee N/A 0.02% 0.45% 67.86%

Sales Fees

CPUAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.00% 1.00% 4.75% 79.17%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

CPUAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 20.00%

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.

CPUAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 104.00% 0.00% 259.00% 62.07%

CPUAX - Distributions

Dividend Yield Analysis

CPUAX Category Low Category High CPUAX % Rank
Dividend Yield 4.42% 0.00% 6.00% 42.05%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

CPUAX Category Low Category High CPUAX % Rank
Net Income Ratio 2.60% 0.38% 5.93% 25.29%

Capital Gain Distribution Analysis

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

Distributions History

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CPUAX - Fund Manager Analysis

Managers

Gautam Khanna


Start Date

Tenure

Tenure Rank

Apr 19, 2013

9.12

9.1%

Gautam joined Insight's Fixed Income Group as a senior portfolio manager in 2003. Gautam leads the management of Insight's flagship US core, core plus and high yield strategies. Prior to Cutwater, Gautam was a member of the high yield team at Times Square Capital Management, where he focused on credit management for CBOs as well as high yield total return accounts. Gautam is a member of the New York Society of Security Analysts. He holds a BS (Hons) from the Rochester Institute of Technology and an MBA degree (with distinction) from Cornell University. He is also a CFA charterholder and is a Certified Public Accountant (CPA).

James DiChiaro


Start Date

Tenure

Tenure Rank

Jun 30, 2019

2.92

2.9%

James joined Insight's Fixed Income Group in 1999 (via predecessor company, Cutwater Asset Management) and has worked in the financial services industry since 1998. As a senior portfolio manager, James’s responsibilities include managing the firm’s core, core plus, select income, and high yield strategies. James also has an extensive history in managing long duration taxable and tax-exempt strategies as well as money market portfolios. James holds a BS degree from Fordham University and an MBA from Pace University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 24.76 6.74 4.41