DGFZX: Destinations Global Fixed Income Opps Z

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DGFZX Destinations Global Fixed Income Opps Z


Profile

DGFZX - Profile

Vitals

  • YTD Return -9.9%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $637 M
  • Holdings in Top 10 12.3%

52 WEEK LOW AND HIGH

$9.05
$8.83
$10.15

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.94%

SALES FEES

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

BROKERAGE FEES

  • Turnover 79.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style World Bond

Distributions

  • YTD Total Return -9.9%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.05%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Destinations Global Fixed Income Opportunities Fund
  • Fund Family Name
    Destinations Funds
  • Inception Date
    Jul 16, 2018
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Mark Christensen

Fund Description

The fund will invest at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in fixed income securities. It invests primarily in investment grade and non-investment grade debt, preferred stock, convertible bonds, bank loans, high yield bonds and other income producing securities, such as municipal bonds. The fund will invest in securities of various credit qualities and maturities. It is expected that, under normal market conditions, at least 40% of its assets will be invested in the securities of companies that are tied economically to at least three countries outside the U.S.


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Categories

Performance

DGFZX - Performance

Return Ranking - Trailing

Period DGFZX Return Category Return Low Category Return High Rank in Category (%)
YTD -9.9% -41.8% 2.3% 41.03%
1 Yr -9.8% -37.6% 22.4% 42.45%
3 Yr N/A* -15.2% 6.0% N/A
5 Yr N/A* -10.3% 3.4% N/A
10 Yr N/A* -3.8% 3.9% N/A

* Annualized

Return Ranking - Calendar

Period DGFZX Return Category Return Low Category Return High Rank in Category (%)
2019 2.3% 0.0% 25.7% 94.34%
2018 N/A -25.9% -3.4% N/A
2017 N/A -1.2% 13.6% N/A
2016 N/A -6.5% 7.3% N/A
2015 N/A -16.1% -0.7% N/A

Total Return Ranking - Trailing

Period DGFZX Return Category Return Low Category Return High Rank in Category (%)
YTD -9.9% -41.8% 2.3% 41.03%
1 Yr -9.8% -37.6% 22.4% 42.45%
3 Yr N/A* -15.2% 6.0% N/A
5 Yr N/A* -10.3% 3.9% N/A
10 Yr N/A* -3.8% 7.9% N/A

* Annualized

Total Return Ranking - Calendar

Period DGFZX Return Category Return Low Category Return High Rank in Category (%)
2019 2.7% 0.0% 25.7% 94.34%
2018 N/A -25.9% -0.6% N/A
2017 N/A -1.2% 16.5% N/A
2016 N/A -6.5% 12.0% N/A
2015 N/A -16.1% 3.2% N/A

NAV & Total Return History


Holdings

DGFZX - Holdings

Concentration Analysis

DGFZX Category Low Category High DGFZX % Rank
Net Assets 637 M 999 K 3.65 B 30.09%
Number of Holdings 331 6 1391 60.87%
Net Assets in Top 10 93.7 M -45.1 M 536 M 42.61%
Weighting of Top 10 12.31% 6.9% 200.7% 86.96%

Top 10 Holdings

  1. Mueller Industries Inc. 6% 1.59%
  2. Linkem S.p.A 7% 1.50%
  3. Centene Corporation 6.13% 1.39%
  4. Silversea Cruise Finance Ltd 7.25% 1.26%
  5. T/L Windstream Regatta Hldgs Regd 1.25%
  6. T/L Windstream Services Llc Regd 1.15%
  7. CSC Holdings, LLC 5.38% 1.11%
  8. CITGO Petroleum Corporation 6.25% 1.05%
  9. Cott Holdings Inc 5.5% 1.02%
  10. Axiata SPV2 Berhad 3.47% 1.00%

Asset Allocation

Weighting Return Low Return High DGFZX % Rank
Bonds
74.15% -120.56% 87.25% 7.83%
Cash
17.17% -36.91% 184.19% 33.91%
Convertible Bonds
4.30% 0.00% 20.67% 19.13%
Preferred Stocks
2.67% 0.00% 21.57% 33.04%
Stocks
1.07% -5.19% 99.99% 83.48%
Other
0.64% -0.45% 23.86% 33.04%

Stock Sector Breakdown

Weighting Return Low Return High DGFZX % Rank
Financial Services
66.87% 0.00% 66.87% 1.94%
Real Estate
25.49% -0.15% 54.98% 22.33%
Industrials
5.63% 0.00% 22.07% 74.76%
Energy
1.38% 0.00% 25.31% 87.38%
Communication Services
0.62% 0.00% 12.96% 90.29%
Utilities
0.00% 0.00% 31.27% 100.00%
Technology
0.00% 0.00% 19.82% 100.00%
Healthcare
0.00% 0.00% 100.00% 100.00%
Consumer Defense
0.00% 0.00% 27.00% 100.00%
Consumer Cyclical
0.00% 0.00% 14.88% 100.00%
Basic Materials
0.00% 0.00% 9.97% 100.00%

Stock Geographic Breakdown

Weighting Return Low Return High DGFZX % Rank
US
1.05% -1.16% 99.99% 77.39%
Non US
0.02% -5.23% 41.58% 81.74%

Bond Sector Breakdown

Weighting Return Low Return High DGFZX % Rank
Corporate
72.78% 0.00% 98.38% 23.48%
Cash & Equivalents
16.99% 0.02% 186.99% 60.87%
Government
7.60% -132.75% 60.69% 66.09%
Derivative
2.39% -2.45% 47.22% 33.04%
Securitized
0.24% 0.00% 23.46% 52.17%
Municipal
0.00% 0.00% 4.79% 96.52%

Bond Geographic Breakdown

Weighting Return Low Return High DGFZX % Rank
Non US
39.74% 0.00% 77.37% 13.91%
US
34.41% -166.35% 64.16% 7.83%

Expenses

DGFZX - Expenses

Operational Fees

DGFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.94% 0.26% 11.95% 69.44%
Management Fee 0.85% 0.10% 1.90% 81.20%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.10% 0.25% N/A

Sales Fees

DGFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

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

DGFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 79.00% 0.00% 282.00% 36.36%

Distributions

DGFZX - Distributions

Dividend Yield Analysis

DGFZX Category Low Category High DGFZX % Rank
Dividend Yield 0.00% 0.00% 3.19% 96.58%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

DGFZX Category Low Category High DGFZX % Rank
Net Income Ratio 4.05% -0.99% 11.02% 30.00%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

DGFZX - Fund Manager Analysis

Managers

Mark Christensen


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.03

3.0%

Mr. Christensen joined DoubleLine Capital LP in 2009 as a Portfolio Manager, Co-Portfolio Manager, Senior Credit Analyst and Head of Emerging Markets Corporate Research. As part of his research responsibilities, he covers corporate credits in the following sectors: telecommunications, media, aerospace, banking, pulp & paper, chemical, petroleum refining, infrastructure, gaming and retail. Prior to DoubleLine, he was a Managing Director associated with TCW since 1991, where he had been involved in building and managing TCW emerging markets fixed income business, including trading, marketing, and credit research, and portfolio management. Mr. Christensen graduated from Brigham Young University with a BS in Business Management with an emphasis in International Finance.

Douglas Baker


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.03

3.0%

Mr. Baker is the head of the Preferred Securities Sector Team and a member of the Fixed Income Strategy Committee, which establishes investment policy for all taxable fixed income products. He co-leads the taxable fixed income credit oversight process, which provides a structure for implementing credit strategy across taxable fixed income. As a senior fixed income portfolio manager, he is the lead manager for Nuveen Asset Management’s Preferred Securities related strategies, as well as a co-portfolio manager for the Multi-Sector, Core Plus Bond, and Inflation Protected Municipal Bond strategie

David Sherman


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.03

3.0%

David K. Sherman is the portfolio manager for RiverPark Short Term and RiverPark Strategic Income. Mr. Sherman, is the managing member of Cohanzick. Since 1996, Mr. Sherman, on behalf of Cohanzick Management, LLC , has managed accounts for various clients utilizing investment programs substantially similar to those intended to be used by the Fund. From January 1987 to August 1996, Mr. Sherman held various executive and director positions at Leucadia National Corporation and/or its subsidiaries. From August 1992 to August 1996, Mr. Sherman served as a Vice President of Leucadia with primary responsibility for the oversight of Leucadia's insurance companies' investment portfolios. Mr. Sherman holds a B.S. in Business Administration from Washington University.

Su Koo


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.03

3.0%

Ms. Koo joined DoubleLine in 2009 as Portfolio Manager and Senior Credit Analyst. As part of her research responsibilities, she specializes in the analysis of corporate credits in the sectors of oil & gas, utilities, metals & mining, conglomerates, technology, transportation, and real estate. Prior to DoubleLine, she was a Senior Vice President associated with TCW since 1998. In addition to credit analysis, she was involved in marketing and since 2006 performed increasing portfolio management duties. Previously, Ms. Koo was an Assistant Treasurer at Société Générale involved in Corporate Finance. Prior to that, she was an Assistant Vice President with Bank of America in the Financial Institution Group. Ms. Koo holds a BS in Business Administration from the University of Houston and an MBA in Finance from the University of Southern California.

Brenda Langenfeld


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.03

3.0%

Brenda is a portfolio manager for the preferred security strategies. She joined the Preferred Securities Sector Team in January 2011. Brenda started working in the financial services industry in 2004 when she joined the firm. Previously, she was a member of the High Grade Credit Sector Team, responsible for trading corporate bonds. She was a member of the Securitized Debt Sector Team, trading mortgage-backed securities, asset-backed securities, and commercial mortgage-backed securities prior to that. A graduate of the University of Wisconsin-Madison, Brenda received a B.B.A. in finance and

Jeff Raupp


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.03

3.0%

Jeff Raupp is the Chief Investment Officer at Brinker Capital. In this role, he maintains overall responsibility for asset allocation, strategy selection and portfolio construction, and leads the company’s investment team. Additionally, he oversees the portfolio management for Brinker Capital’s flagship 23-year mutual fund program, Destinations. Jeff is the Chair of Brinker Capital’s Investment Committee and serves as a member of the company’s Asset Allocation, Manager Research, and Executive Committees. Prior to his current role, Jeff served as the Director of Investments and Operations Manager for Brinker Capital, where he managed all operational aspects of the company’s relationship with Fidelity IWS and Fidelity Clearing & Custody Solutions. Jeff has over 22 years of industry management experience. Before joining Brinker Capital, Jeff was an Electronic Engineer and Project Manager for a small electronics firm. He also served as an Officer in the United States Army. Jeff received his Bachelor of Science in mechanical engineering from the University of Delaware and his Master of Business Administration in finance from Villanova University. Additionally, he’s certified in Lean Six Sigma through Villanova University and holds FINRA Series 7 and 66 licenses. Jeff is a member of the CFA Institute and the CFA® Society of Philadelphia.

Amy Magnotta


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.03

3.0%

Amy L. Magnotta, CFA, is a Senior Investment Manager at Brinker Capital with portfolio management responsibilities for the Destinations program. Ms. Magnotta joined Brinker Capital in 2006 as a senior analyst and has been portfolio manager for the Destinations program since 2007. Prior to joining Brinker Capital, Ms. Magnotta was an associate at Franklin Park Associates from 2004 to 2006 and an associate at BlackRock from 2001 to 2004. Ms. Magnotta has a B.S. in Finance from Lehigh University.

Leigh Lowman


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.03

3.0%

Leigh A. Lowman is an Investment Manager at Brinker Capital with portfolio management responsibilities for the Destinations program. Prior to joining Brinker Capital in 2015, Ms. Lowman was an outreach analyst for The Investment Fund for Foundations (TIFF) and a senior associate for Mondrian Investment Partners. Ms. Lowman was previously at Brinker Capital from 2004 to 2010 as an investment associate and operations analyst. Ms. Lowman has a B.A. in Economics from Wittenburg University.

Luz Padilla


Start Date

Tenure

Tenure Rank

Mar 20, 2017

3.03

3.0%

Ms. Padilla joined DoubleLine in 2009 as the Director of the Emerging Markets Group and is the lead Portfolio Manager. Prior to DoubleLine, she was a Managing Director at TCW. She began working at TCW in 1994, where she had served in a number of roles of increasing responsibility with the group, including Credit Analyst, Director of Research, Co-Portfolio Manager since December 2001, and lead Portfolio Manager since October 2006. She was involved in all aspects of building and managing TCW's Emerging Markets Fixed Income business including credit, securitization, trading and marketing. Ms. Padilla attended University of California at Berkeley as a fellow of the Robert A. Toigo Foundation and graduated with an MBA in 1994. Ms. Padilla received her BA in Economics in 1989 from Stanford University in Palo Alto, California.

Jonathan Berg


Start Date

Tenure

Tenure Rank

Dec 31, 2018

1.25

1.3%

Jonathan Berg joined Cohanzick Management, LLC in 2010. Mr. Berg is currently an Assistant Portfolio Manager and Senior Analyst and has been an employee of CrossingBridge since its inception in 2016. Mr. Berg has more than 20 years of investment experience having worked at Bear Stearns, Merrill Lynch, Ellington Management, and Trust Company of the West. Mr. Berg holds a Bachelor of Arts from Duke University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.42 12.76 3.98 5.52