iMGP Dolan McEniry Corporate Bond Fund
Name
As of 10/01/2024Price
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
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
-2.5%
5 Yr Avg Return
-1.1%
Net Assets
$258 M
Holdings in Top 10
19.7%
52 WEEK LOW AND HIGH
$10.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.75%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/01/2024Price
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
IDMIX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return -2.5%
- 5 Yr Annualized Total Return -1.1%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 0.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameiMGP Dolan McEniry Corporate Bond Fund
-
Fund Family NameiM Global Partner
-
Inception DateSep 28, 2018
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
Fund Description
The Dolan McEniry Corporate Bond Fund invests in a diversified portfolio of corporate investment grade bonds, corporate high yield bonds, and U.S. Government and Treasury securities maturing within 10 years or less. The Advisor believes that giving a highly disciplined manager latitude in the types of bonds it can own can confer an advantage over managers who are more tightly constrained to an arbitrary “style box.” This belief underlays the premise of the Dolan McEniry Corporate Bond Fund to give its sub‑advisor (the “sub‑advisor” or “manager”) broad flexibility but limit the sub‑advisor to its highest-conviction ideas. The Advisor is responsible for recommending which sub‑advisors to hire or remove. Before hiring a sub‑advisor, the Advisor performs extensive due diligence. This includes quantitative and qualitative analysis, including (but not limited to) an evaluation of the investment process, the consistency of its execution and discipline; individual holdings; strategies employed, past mistakes, risk controls, team depth and quality; operations and compliance; and business focus and vision. The Advisor’s evaluation process includes review of literature and documents, quantitative historical performance evaluation, extensive discussions with members of the investment team and firm management and background checks through industry contacts.
All securities will be U.S. dollar denominated, although they may be issued by a foreign corporation or a U.S. affiliate of a foreign corporation. Under normal market conditions, the Dolan McEniry Corporate Bond Fund will invest at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in corporate bonds. In addition to investments in corporate bonds issued by U.S. issuers, the Dolan McEniry Corporate Bond Fund may invest in corporate bonds issued by foreign corporations. With respect to the Dolan McEniry Corporate Bond Fund’s net assets allocated to investments in corporate bonds, the Dolan McEniry Corporate Bond Fund invests approximately 75% in corporate bonds that are determined by the sub‑advisor to be
investment grade, and approximately 25% in high yield bonds (also known as “junk bonds”). The Dolan McEniry Corporate Bond Fund’s investments in investment grade corporate bonds will be rated investment grade (BBB‑by Standard & Poor’s or equivalent) by at least one major credit rating agency identified as a nationally recognized statistical rating organization (“NRSRO”), or if unrated, determined to be of comparable quality by the sub‑advisor. The Dolan McEniry Corporate Bond Fund may invest up to 20% of its net assets in U.S. Government and Treasury securities. The Dolan McEniry Corporate Bond Fund will not make any change in its investment policy of investing at least 80% of its net assets in corporate bonds without first providing shareholders with at least 60 days’ prior written notice.
The sub‑advisor anticipates that the Dolan McEniry Corporate Bond Fund’s duration will reflect that of the Bloomberg U.S. Intermediate Credit Index, plus or minus 50%. For example, if the duration of the Bloomberg U.S. Intermediate Credit Index is 5 years, the Dolan McEniry Corporate Bond Fund’s duration may be 2.5–7.5 years. As of March 31, 2024, the duration of the Bloomberg U.S. Intermediate Credit Index was 3.99 years. Duration measures a bond or fund’s sensitivity to interest rate or other changes (such as changes in a bond’s yield) and is expressed as a number of years. The higher the number, the greater the risk. Under normal circumstances, for example, if a portfolio has a duration of five years, its value will change by 5% if yields change by 1%. Shorter duration bonds generally result in lower expected volatility.
The Dolan McEniry Corporate Bond Fund’s investment universe consists of corporate investment grade bonds, high yield bonds, and U.S. Government and Treasury securities maturing within 10 years or less. When making decisions to buy or sell an investment for the Dolan McEniry Corporate Bond Fund, the sub‑advisor utilizes bottom‑up investment analysis which focuses on credit analysis and selection of undervalued bonds. The sub‑advisor analyzes companies’ financial statements and creates financial models to assess trends in revenue, margins, earnings, cash earnings, investments in working capital and fixed assets, debt levels and cash balances, and other items, ranking each company by risk and return. The sub‑advisor then applies qualitative diligence reviews of each company, taking into consideration pricing, liquidity, event risk and duration to select specific investments for the Dolan McEniry Corporate Bond Fund’s portfolio. The sub‑advisor’s investment process is designed to identify undervalued corporate bonds – those that trade at wide spreads to U.S. Treasury securities yet are issued by companies that, in the sub‑advisor’s assessment, generate sufficient cash flow to meet their debt obligations. The sub‑advisor ranks securities with equal weighting given to risk (cash flow coverage of debt obligations) and return (spread to U.S. Treasuries). The process identifies what the sub‑advisor deems to be the most undervalued bonds. The sub‑advisor will consider selling a security if the company’s fundamentals deteriorate to an unacceptable degree according to the sub‑advisor’s free cash flow credit analysis; the security has appreciated in price to a level that makes it no longer attractive in the sub‑advisor’s ranking system; or if the sub‑advisor identifies a more attractive investment opportunity. Concentration of investments in certain sectors – including, but not limited to, the consumer staples and industrial
sectors – may occur from time to time as a result of the implementation of the Dolan McEniry Corporate Bond Fund’s investment strategy by the manager, but sector focus is not a principal strategy of the Dolan McEniry Corporate Bond Fund.
IDMIX - Performance
Return Ranking - Trailing
Period | IDMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | N/A | N/A | N/A |
1 Yr | N/A | N/A | N/A | N/A |
3 Yr | -2.5%* | N/A | N/A | N/A |
5 Yr | -1.1%* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Return Ranking - Calendar
Period | IDMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | -2.7% | N/A | N/A | N/A |
2020 | 2.9% | N/A | N/A | N/A |
2019 | 7.9% | N/A | N/A | N/A |
Total Return Ranking - Trailing
Period | IDMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | N/A | N/A | N/A |
1 Yr | N/A | N/A | N/A | N/A |
3 Yr | -2.5%* | N/A | N/A | N/A |
5 Yr | -1.1%* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Total Return Ranking - Calendar
Period | IDMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | -2.7% | N/A | N/A | N/A |
2020 | 2.9% | N/A | N/A | N/A |
2019 | 7.9% | N/A | N/A | N/A |
NAV & Total Return History
IDMIX - Holdings
Concentration Analysis
IDMIX | Category Low | Category High | IDMIX % Rank | |
---|---|---|---|---|
Net Assets | 258 M | N/A | N/A | N/A |
Number of Holdings | 129 | N/A | N/A | N/A |
Net Assets in Top 10 | 50.8 M | N/A | N/A | N/A |
Weighting of Top 10 | 19.69% | N/A | N/A | N/A |
Top 10 Holdings
- Quanta Services Inc 2.08%
- Eagle Materials Inc 2.04%
- Marriott International Inc/MD 2.02%
- Teledyne Technologies Inc 1.99%
- Dick's Sporting Goods Inc 1.98%
- Fiserv Inc 1.97%
- Lowe's Cos Inc 1.97%
- TransDigm Inc 1.93%
- Sirius XM Radio Inc 1.89%
- DaVita Inc 1.84%
Asset Allocation
Weighting | Return Low | Return High | IDMIX % Rank | |
---|---|---|---|---|
Bonds | 96.77% | N/A | N/A | N/A |
Cash | 3.23% | N/A | N/A | N/A |
Stocks | 0.00% | N/A | N/A | N/A |
Preferred Stocks | 0.00% | N/A | N/A | N/A |
Other | 0.00% | N/A | N/A | N/A |
Convertible Bonds | 0.00% | N/A | N/A | N/A |
Bond Sector Breakdown
Weighting | Return Low | Return High | IDMIX % Rank | |
---|---|---|---|---|
Derivative | 0.00% | N/A | N/A | N/A |
Cash & Equivalents | 0.00% | N/A | N/A | N/A |
Securitized | 0.00% | N/A | N/A | N/A |
Corporate | 0.00% | N/A | N/A | N/A |
Municipal | 0.00% | N/A | N/A | N/A |
Government | 0.00% | N/A | N/A | N/A |
Bond Geographic Breakdown
Weighting | Return Low | Return High | IDMIX % Rank | |
---|---|---|---|---|
US | 96.77% | N/A | N/A | N/A |
Non US | 0.00% | N/A | N/A | N/A |
IDMIX - Expenses
Operational Fees
IDMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.75% | N/A | N/A | N/A |
Management Fee | 0.42% | N/A | N/A | N/A |
12b-1 Fee | N/A | N/A | N/A | N/A |
Administrative Fee | N/A | N/A | N/A | N/A |
Sales Fees
IDMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | N/A | N/A | N/A |
Trading Fees
IDMIX 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.
IDMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | N/A | N/A | N/A |
IDMIX - Distributions
Dividend Yield Analysis
IDMIX | Category Low | Category High | IDMIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | N/A | N/A | N/A |
Dividend Distribution Analysis
IDMIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None |
Net Income Ratio Analysis
IDMIX | Category Low | Category High | IDMIX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
Capital Gain Distribution Analysis
IDMIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |