Name
As of 03/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-0.4%
1 yr return
-4.1%
3 Yr Avg Return
-7.3%
5 Yr Avg Return
-4.0%
Net Assets
$434 M
Holdings in Top 10
41.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.18%
SALES FEES
Front Load 4.75%
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$2,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
IOFAX - Profile
Distributions
- YTD Total Return -0.4%
- 3 Yr Annualized Total Return -7.3%
- 5 Yr Annualized Total Return -4.0%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.09%
- Dividend Yield 7.4%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameAlphaCentric Income Opportunities Fund
-
Fund Family NameMutual Fund Series Trust
-
Inception DateMay 28, 2015
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTom Miner
Fund Description
The Fund seeks to achieve its investment objective by primarily investing in asset-backed fixed income securities, such as securities backed by credit card receivables, automobiles, aircraft, student loans, equipment leases, and agency and non-agency residential and commercial mortgages. Asset-backed securities in which the Fund may invest also include collateralized debt obligations (CDOs), collateralized loan obligations (CLOs) and privately-offered collateralized loans. The allocation of the Funds investments in these various asset classes depends on the view of the Funds investment sub-advisor, Garrison Point Capital, LLC (Sub-Advisor), as to which asset classes offer the best risk-adjusted values in the marketplace at a given time. However, the Fund expects to focus its investments in non-agency residential mortgage backed securities. Under normal circumstances, the Fund invests over 25% of its assets in residential mortgage-backed securities (agency and non-agency) and commercial mortgage-backed securities. The Fund may be 100% invested in debt securities.
The Fund may also invest in corporate debt securities; U.S. Treasury and agency securities; structured notes; real estate investment trusts (REITs); preferred stock; repurchase and reverse repurchase agreements; investment companies that invest in fixed income securities (including affiliated and unaffiliated funds); and over-the-counter and exchange-traded derivative instruments. The Fund uses derivatives for hedging purposes. The Fund may hedge against rising interest rates through interest rate swaps, interest rate-linked futures and options. The Fund may hedge against rising default rates through credit default swaps, total return swaps linked to an asset or asset class that is representative of the default risks faced by the Fund, and credit spread options. The Fund may also use one or more of these derivatives as a substitute for a security or asset class (commonly referred to as a substitution hedge). In addition, the Fund may take short positions in exchange-traded funds (ETFs) including inverse and leveraged ETFs to hedge interest rate and general market risks as well as to capitalize on an expected decline in security prices.
The Fund may invest in securities of any maturity or duration. The Fund does not limit its investments to a particular credit quality and may invest in distressed asset backed securities and other below investment grade securities (commonly referred to as junk) without limitation. Below investment grade securities are those rated below Baa3 by Moodys Investor Services or equivalently by another nationally recognized statistical rating organization as well as non-rated securities. The Fund may invest in securities backed by sub-prime mortgages. The Fund may hold up to 15% of its net assets in illiquid investments.
In selecting securities for investment, the Sub-Advisor favors investments it believes are undervalued and have the potential to produce consistent returns in most interest rate environments. The Sub-Advisor selects those securities for investment that it believes offer the best risk/return opportunity based on its analyses of a variety of factors including collateral quality, duration, structure, excess interest, credit support, potential for greater upside and less downside capture, liquidity, and market conditions. The Sub-Advisor attempts to diversify geographically and, with respect to asset backed securities, among servicing institutions. The Fund intends to hold the securities in its portfolio until maturity but may sell the securities held in its portfolio when the opportunity to capture outsized returns exists, or when necessitated by asset flows into or out of the Fund.
Distribution Policy: The Funds distribution policy is to make twelve monthly distributions to shareholders. The Fund may, at the discretion of management, target a specific level of monthly distributions (including any return of capital) from time to time. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital. Shareholders should not assume that the source of a distribution from the Fund is net profit. For more information about the Funds distribution policy, please turn to Additional Information About the Funds Principal Investment Strategies and Related Risks – Principal Investment Strategies – AlphaCentric Income Opportunities Fund – Distribution Policy and Goals section in this Prospectus.
IOFAX - Performance
Return Ranking - Trailing
Period | IOFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.4% | -6.8% | 5.6% | 91.81% |
1 Yr | -4.1% | -9.3% | 23.2% | 99.23% |
3 Yr | -7.3%* | -16.6% | 18.0% | 97.24% |
5 Yr | -4.0%* | -13.0% | 15.0% | 95.87% |
10 Yr | N/A* | -13.4% | 6.7% | N/A |
* Annualized
Return Ranking - Calendar
Period | IOFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -12.0% | -12.0% | 15.7% | 100.00% |
2022 | -25.5% | -31.8% | 18.4% | 98.26% |
2021 | 10.4% | -26.6% | 25.7% | 0.49% |
2020 | -15.0% | -49.2% | 18.7% | 99.12% |
2019 | 6.6% | -35.1% | 15.3% | 25.71% |
Total Return Ranking - Trailing
Period | IOFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.4% | -6.8% | 5.6% | 91.81% |
1 Yr | -4.1% | -9.3% | 23.2% | 99.23% |
3 Yr | -7.3%* | -16.6% | 18.0% | 97.24% |
5 Yr | -4.0%* | -13.0% | 15.0% | 95.87% |
10 Yr | N/A* | -13.4% | 6.7% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | IOFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -5.8% | -7.0% | 22.2% | 99.38% |
2022 | -21.9% | -31.8% | 21.1% | 97.78% |
2021 | 14.4% | -13.5% | 49.9% | 1.47% |
2020 | -10.8% | -28.6% | 24.1% | 99.12% |
2019 | 11.6% | -4.8% | 19.1% | 20.95% |
NAV & Total Return History
IOFAX - Holdings
Concentration Analysis
IOFAX | Category Low | Category High | IOFAX % Rank | |
---|---|---|---|---|
Net Assets | 434 M | 2.32 M | 127 B | 53.95% |
Number of Holdings | 121 | 2 | 10577 | 78.00% |
Net Assets in Top 10 | 171 M | -1.57 B | 65.8 B | 47.04% |
Weighting of Top 10 | 41.69% | 0.7% | 170.6% | 28.09% |
Top 10 Holdings
- CARR 2006-FRE1 M1 8.21%
- CITM 2007-1 1M3 7.26%
- FIRST AM-TR OB-X 6.31%
- OOMLT 2007-CP1 M1 3.40%
- SCRT 2018-3 BX 3.10%
- TPMT 2019-4 B3 3.02%
- CARR 2007-RFC1 M1 2.74%
- CMLTI 2007-AHL1 M2 2.65%
- ABFC 2007-NC1 M1 2.64%
- NRZT 2019-RPL3 B1 2.37%
Asset Allocation
Weighting | Return Low | Return High | IOFAX % Rank | |
---|---|---|---|---|
Other | 93.56% | -72.32% | 100.00% | 1.06% |
Cash | 6.44% | -94.66% | 258.91% | 33.08% |
Stocks | 0.00% | -1.60% | 99.88% | 77.09% |
Preferred Stocks | 0.00% | 0.00% | 30.46% | 53.26% |
Convertible Bonds | 0.00% | 0.00% | 33.50% | 86.45% |
Bonds | 0.00% | -150.81% | 203.29% | 91.96% |
IOFAX - Expenses
Operational Fees
IOFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.18% | 0.01% | 20.67% | 13.92% |
Management Fee | 1.30% | 0.00% | 2.29% | 93.83% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 26.97% |
Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
IOFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 4.75% | 0.00% | 5.75% | 9.92% |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
IOFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 2.00% | 55.00% |
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.
IOFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 632.00% | 26.46% |
IOFAX - Distributions
Dividend Yield Analysis
IOFAX | Category Low | Category High | IOFAX % Rank | |
---|---|---|---|---|
Dividend Yield | 7.41% | 0.00% | 18.15% | 89.62% |
Dividend Distribution Analysis
IOFAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Quarterly |
Net Income Ratio Analysis
IOFAX | Category Low | Category High | IOFAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.09% | -1.55% | 11.51% | 91.68% |
Capital Gain Distribution Analysis
IOFAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Feb 29, 2024 | $0.048 | OrdinaryDividend |
Jan 31, 2024 | $0.048 | OrdinaryDividend |
Dec 29, 2023 | $0.049 | OrdinaryDividend |
Nov 30, 2023 | $0.021 | OrdinaryDividend |
Sep 29, 2023 | $0.021 | OrdinaryDividend |
Aug 31, 2023 | $0.021 | OrdinaryDividend |
Feb 28, 2023 | $0.021 | OrdinaryDividend |
Dec 30, 2022 | $0.048 | OrdinaryDividend |
Nov 30, 2022 | $0.022 | OrdinaryDividend |
Oct 31, 2022 | $0.038 | OrdinaryDividend |
Sep 30, 2022 | $0.038 | OrdinaryDividend |
Aug 31, 2022 | $0.038 | OrdinaryDividend |
Jul 29, 2022 | $0.038 | OrdinaryDividend |
Jun 30, 2022 | $0.038 | OrdinaryDividend |
May 31, 2022 | $0.037 | OrdinaryDividend |
Apr 29, 2022 | $0.038 | OrdinaryDividend |
Mar 31, 2022 | $0.037 | OrdinaryDividend |
Feb 28, 2022 | $0.038 | OrdinaryDividend |
Jan 31, 2022 | $0.038 | OrdinaryDividend |
Nov 29, 2021 | $0.038 | OrdinaryDividend |
Oct 28, 2021 | $0.038 | OrdinaryDividend |
Sep 29, 2021 | $0.037 | OrdinaryDividend |
Aug 30, 2021 | $0.038 | OrdinaryDividend |
Jul 29, 2021 | $0.038 | OrdinaryDividend |
Jun 29, 2021 | $0.037 | OrdinaryDividend |
May 27, 2021 | $0.038 | OrdinaryDividend |
Apr 29, 2021 | $0.038 | OrdinaryDividend |
Mar 30, 2021 | $0.037 | OrdinaryDividend |
Feb 25, 2021 | $0.038 | OrdinaryDividend |
Jan 28, 2021 | $0.038 | OrdinaryDividend |
Dec 30, 2020 | $0.037 | OrdinaryDividend |
Nov 27, 2020 | $0.038 | OrdinaryDividend |
Oct 29, 2020 | $0.038 | OrdinaryDividend |
Sep 29, 2020 | $0.038 | OrdinaryDividend |
Aug 28, 2020 | $0.038 | OrdinaryDividend |
Jul 30, 2020 | $0.038 | OrdinaryDividend |
Jun 29, 2020 | $0.038 | OrdinaryDividend |
May 28, 2020 | $0.043 | OrdinaryDividend |
Apr 29, 2020 | $0.048 | OrdinaryDividend |
Mar 30, 2020 | $0.020 | OrdinaryDividend |
Feb 27, 2020 | $0.021 | OrdinaryDividend |
Jan 30, 2020 | $0.021 | OrdinaryDividend |
Dec 30, 2019 | $0.047 | OrdinaryDividend |
Nov 27, 2019 | $0.048 | OrdinaryDividend |
Oct 30, 2019 | $0.047 | OrdinaryDividend |
Sep 27, 2019 | $0.048 | OrdinaryDividend |
Aug 29, 2019 | $0.048 | OrdinaryDividend |
Jul 30, 2019 | $0.047 | OrdinaryDividend |
Jun 27, 2019 | $0.050 | OrdinaryDividend |
May 30, 2019 | $0.049 | OrdinaryDividend |
Apr 29, 2019 | $0.049 | OrdinaryDividend |
Mar 28, 2019 | $0.049 | OrdinaryDividend |
Feb 27, 2019 | $0.049 | OrdinaryDividend |
Jan 30, 2019 | $0.049 | OrdinaryDividend |
Dec 28, 2018 | $0.048 | OrdinaryDividend |
Nov 29, 2018 | $0.049 | OrdinaryDividend |
Oct 30, 2018 | $0.049 | OrdinaryDividend |
Sep 27, 2018 | $0.050 | OrdinaryDividend |
Aug 30, 2018 | $0.049 | OrdinaryDividend |
Jul 30, 2018 | $0.049 | OrdinaryDividend |
Jun 28, 2018 | $0.049 | OrdinaryDividend |
May 30, 2018 | $0.049 | OrdinaryDividend |
Apr 27, 2018 | $0.049 | OrdinaryDividend |
Mar 28, 2018 | $0.049 | OrdinaryDividend |
Feb 27, 2018 | $0.049 | OrdinaryDividend |
Jan 30, 2018 | $0.049 | OrdinaryDividend |
Dec 19, 2017 | $0.045 | OrdinaryDividend |
Nov 29, 2017 | $0.049 | OrdinaryDividend |
Oct 30, 2017 | $0.050 | OrdinaryDividend |
Sep 28, 2017 | $0.049 | OrdinaryDividend |
Aug 30, 2017 | $0.048 | OrdinaryDividend |
Jul 28, 2017 | $0.047 | OrdinaryDividend |
Jun 29, 2017 | $0.047 | OrdinaryDividend |
May 30, 2017 | $0.047 | OrdinaryDividend |
Apr 27, 2017 | $0.046 | OrdinaryDividend |
Mar 30, 2017 | $0.046 | OrdinaryDividend |
Feb 27, 2017 | $0.046 | OrdinaryDividend |
Jan 30, 2017 | $0.046 | OrdinaryDividend |
Dec 20, 2016 | $0.052 | OrdinaryDividend |
Nov 29, 2016 | $0.045 | OrdinaryDividend |
Oct 28, 2016 | $0.045 | OrdinaryDividend |
Sep 29, 2016 | $0.044 | OrdinaryDividend |
Aug 30, 2016 | $0.044 | OrdinaryDividend |
Jul 28, 2016 | $0.044 | OrdinaryDividend |
Jun 29, 2016 | $0.044 | OrdinaryDividend |
May 27, 2016 | $0.044 | OrdinaryDividend |
Apr 28, 2016 | $0.044 | OrdinaryDividend |
Mar 30, 2016 | $0.043 | OrdinaryDividend |
Feb 26, 2016 | $0.043 | OrdinaryDividend |
Jan 28, 2016 | $0.044 | OrdinaryDividend |
Dec 29, 2015 | $0.043 | OrdinaryDividend |
Nov 27, 2015 | $0.043 | OrdinaryDividend |
Oct 29, 2015 | $0.043 | OrdinaryDividend |
Sep 29, 2015 | $0.043 | OrdinaryDividend |
Aug 28, 2015 | $0.043 | OrdinaryDividend |
Jul 30, 2015 | $0.013 | OrdinaryDividend |
IOFAX - Fund Manager Analysis
Managers
Tom Miner
Start Date
Tenure
Tenure Rank
May 28, 2015
7.01
7.0%
Tom Miner has been a Principal and Portfolio Manager of Garrison Point since 2012. He has also been a Principal and Portfolio Manager of Garrison Point Funds, LLC since 2012, a Registered Representative of S.F. Sentry Securities, Inc. since 2012 and a Registered Investment Advisor representative of San Francisco Sentry Investment Group since 2012. From 2009 to co-founding Garrison Point in 2012, Mr. Miner was a Director of Barclays Capital, Inc. From 2007 to 2009, Mr. Miner was the Chief Executive Officer of Xootr, LLC, a manufacturer of folding bikes and scooters, and, from 1994 to 2007, he served in various roles for Lehman Brothers, Inc. focusing on structuring of fixed income products and building Lehman Brothers’ West Coast securitized products business. Mr. Miner holds a BA, BS and MBA from the University of Utah where he is also an adjunct professor of finance teaching Fixed Income Analysis and Venture Capital classes.
Garrett Smith
Start Date
Tenure
Tenure Rank
May 28, 2015
7.01
7.0%
Garrett Smith has been a Principal and Portfolio Manager of Garrison Point since 2012. He has also been a Principal and Portfolio Manager of Garrison Point Funds, LLC since 2012, a Registered Representative of S.F. Sentry Securities, Inc. since 2012 and a Registered Investment Advisor representative of San Francisco Sentry Investment Group since 2012. From 2008 to co-founding Garrison Point in 2012, Mr. Smith was Vice President of Barclays Capital, Inc and, from 2006 to 2008, he was a Securitized Product Trader for Lehman Brothers, Inc. where he traded agency and non-agency mortgage backed securities. From 1996 to 2005, Mr. Smith was an officer in the U.S. Navy. Mr. Smith received MBA and MEM degrees from Northwestern University and BS degrees from the United States Naval Academy and University of Maryland.
Brian Loo
Start Date
Tenure
Tenure Rank
May 28, 2015
7.01
7.0%
Brian Loo has been a Portfolio Manager of Garrison Point since 2013. He has also been the Managing Director of Garrison Point Funds, LLC and a Registered Representative of S.F. Sentry Securities, Inc. since 2013. Mr. Loo joined Garrison Point Capital, LLC in 2013 from The TCW Group, Inc. where he served as a Portfolio Manager in the Structured Products Group beginning in 2009. Mr. Loo began his career as Senior Vice President in the mortgage backed securities department of TCW in 1994 and left TCW in 1996 to become a founding member Principal of Metropolitan West Asset Management, a fixed income money manager, which was acquired by TCW in 1996. Mr. Loo holds a BS from UCLA, an MSIA from Carnegie Mellon Tepper School of Business and is a CFA charterholder.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 28.19 | 5.72 | 3.19 |