LFMAX: LoCorr Macro Strategies Fund - MutualFunds.com

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LoCorr Macro Strategies A

LFMAX - Snapshot

Vitals

  • YTD Return 2.3%
  • 3 Yr Annualized Return 3.2%
  • 5 Yr Annualized Return 3.6%
  • Net Assets $1.13 B
  • Holdings in Top 10 N/A

52 WEEK LOW AND HIGH

$8.75
$8.13
$8.96

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.16%

SALES FEES

  • Front Load 5.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 84.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA N/A

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style Managed Futures

Compare LFMAX to Popular Managed Futures Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$8.00

0.00%

$2.69 B

3.25%

$0.26

-3.73%

-

$10.24

0.00%

$1.43 B

4.46%

$0.46

9.40%

-

$8.76

+0.11%

$1.13 B

1.78%

$0.16

2.34%

-

$10.65

+0.38%

$1.08 B

2.15%

$0.23

5.76%

-

$11.41

+0.09%

$898.43 M

5.83%

$0.66

4.78%

-

LFMAX - Profile

Distributions

  • YTD Total Return 2.3%
  • 3 Yr Annualized Total Return 1.1%
  • 5 Yr Annualized Total Return 2.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.24%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    LoCorr Macro Strategies Fund
  • Fund Family Name
    LoCorr Funds
  • Inception Date
    Mar 22, 2011
  • Shares Outstanding
    6309902
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Jon Essen

Fund Description

The fund seeks to achieve its investment objectives by allocating its assets using two principal strategies: "Managed Futures" Strategy and "Fixed Income" Strategy. The Managed Futures strategy is designed to produce capital appreciation by capturing returns related to the commodity and financial markets. The Fixed Income strategy is designed to generate interest income and preserve principal by investing primarily in investment grade securities.


LFMAX - Performance

Return Ranking - Trailing

Period LFMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -20.2% 19.7% 33.98%
1 Yr 0.7% -23.0% 18.7% 37.86%
3 Yr 3.2%* -9.1% 6.8% 7.29%
5 Yr 3.6%* -7.5% 6.3% 8.05%
10 Yr N/A* -2.6% 5.5% N/A

* Annualized

Return Ranking - Calendar

Period LFMAX Return Category Return Low Category Return High Rank in Category (%)
2019 7.7% -9.3% 17.5% 11.76%
2018 -8.0% -25.8% 2.2% 55.21%
2017 -3.1% -5.1% 21.0% 92.77%
2016 4.4% -20.3% 8.1% 5.13%
2015 0.4% -15.9% 14.0% 24.32%

Total Return Ranking - Trailing

Period LFMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -20.2% 19.7% 33.98%
1 Yr -5.1% -26.7% 18.7% 63.11%
3 Yr 1.1%* -10.3% 6.6% 28.13%
5 Yr 2.3%* -7.5% 5.1% 12.64%
10 Yr N/A* -2.6% 5.5% N/A

* Annualized

Total Return Ranking - Calendar

Period LFMAX Return Category Return Low Category Return High Rank in Category (%)
2019 7.7% -9.3% 17.5% 11.76%
2018 -8.0% -20.3% 2.5% 58.33%
2017 2.7% -5.1% 21.0% 56.63%
2016 6.5% -20.3% 10.8% 5.13%
2015 3.2% -15.9% 22.6% 22.97%

NAV & Total Return History


LFMAX - Holdings

Concentration Analysis

LFMAX Category Low Category High LFMAX % Rank
Net Assets 1.13 B 2.16 M 2.69 B 7.77%
Number of Holdings 605 3 738 4.85%
Net Assets in Top 10 2.24 B -1.26 M 8.31 B 3.88%
Weighting of Top 10 N/A 11.0% 97.1% 11.19%

Top 10 Holdings

  1. 2 Year Treasury Note Future Dec 20 39.10%
  2. 2 Year Treasury Note Future Dec 20 39.10%
  3. 2 Year Treasury Note Future Dec 20 39.10%
  4. 2 Year Treasury Note Future Dec 20 39.10%
  5. 2 Year Treasury Note Future Dec 20 39.10%
  6. 2 Year Treasury Note Future Dec 20 39.10%
  7. 2 Year Treasury Note Future Dec 20 39.10%
  8. 2 Year Treasury Note Future Dec 20 39.10%
  9. 2 Year Treasury Note Future Dec 20 39.10%
  10. 2 Year Treasury Note Future Dec 20 39.10%

Asset Allocation

Weighting Return Low Return High LFMAX % Rank
Bonds
428.37% -1748.87% 1098.49% 15.53%
Stocks
29.70% -6.59% 233.16% 20.39%
Other
8.69% -1.76% 117.31% 66.02%
Convertible Bonds
2.00% 0.00% 3.34% 3.88%
Preferred Stocks
0.00% 0.00% 0.12% 19.42%
Cash
-368.76% -1091.34% 1796.70% 83.50%

Stock Sector Breakdown

Weighting Return Low Return High LFMAX % Rank
Technology
21.44% 0.00% 45.08% 36.00%
Consumer Cyclical
14.86% 0.00% 21.37% 25.33%
Financial Services
13.14% 0.00% 28.13% 58.67%
Healthcare
11.78% 0.00% 20.05% 17.33%
Industrials
9.75% 0.00% 17.73% 37.33%
Communication Services
8.98% 0.00% 20.12% 50.67%
Consumer Defense
6.86% 0.00% 11.92% 28.00%
Basic Materials
5.33% 0.00% 11.87% 52.00%
Utilities
3.03% 0.00% 8.17% 49.33%
Energy
2.50% 0.00% 9.45% 64.00%
Real Estate
2.35% 0.00% 100.00% 34.67%

Stock Geographic Breakdown

Weighting Return Low Return High LFMAX % Rank
US
18.37% -41.23% 233.16% 18.45%
Non US
11.33% -6.88% 44.83% 28.16%

Bond Sector Breakdown

Weighting Return Low Return High LFMAX % Rank
Government
60.29% 0.00% 76.56% 13.59%
Derivative
30.08% 0.00% 61.99% 23.30%
Corporate
3.81% 0.00% 27.67% 21.36%
Securitized
3.64% 0.00% 70.06% 18.45%
Cash & Equivalents
1.90% 1.02% 100.00% 92.23%
Municipal
0.28% 0.00% 3.51% 10.68%

Bond Geographic Breakdown

Weighting Return Low Return High LFMAX % Rank
Non US
293.07% 0.00% 1014.17% 15.53%
US
135.30% -1748.87% 135.30% 0.97%

LFMAX - Expenses

Operational Fees

LFMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.16% 0.75% 9.89% 39.81%
Management Fee 1.65% 0.25% 2.99% 87.38%
12b-1 Fee 0.25% 0.00% 1.00% 24.62%
Administrative Fee N/A 0.05% 0.45% 52.11%

Sales Fees

LFMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 4.75% 5.75% 4.35%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

LFMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 80.00%

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.

LFMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 84.00% 0.00% 228.00% 67.57%

LFMAX - Distributions

Dividend Yield Analysis

LFMAX Category Low Category High LFMAX % Rank
Dividend Yield 0.00% 0.00% 8.49% 17.48%

Dividend Distribution Analysis

LFMAX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Annually

Net Income Ratio Analysis

LFMAX Category Low Category High LFMAX % Rank
Net Income Ratio 0.24% -2.10% 2.13% 59.22%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

LFMAX - Fund Manager Analysis

Managers

Jon Essen


Start Date

Tenure

Tenure Rank

Mar 22, 2011

9.7

9.7%

Mr. Essen has served as Chief Financial Officer of the Adviser since it was founded in November 2010. Mr. Essen also serves as Senior Vice President and Chief Financial Officer of Octavus Group, LLC, and as a Registered Representative of LoCorr Distributors, LLC, positions both held since April 2008. Mr. Essen also began serving as Principal and Chief Compliance Officer of LoCorr Distributors, LLC in September 2008. Mr. Essen also served as Chief Operating Officer of the Adviser and affiliates from 2008 to 2016. Previously, Mr. Essen served as Chief Operating Officer of a commercial finance enterprise from May 2002 to April 2008. Additionally, Mr. Essen was Chief Financial Officer of Jundt Associates, Inc. from 1998 to 2002.

Kenneth Tropin


Start Date

Tenure

Tenure Rank

Mar 11, 2016

4.73

4.7%

Kenneth G. Tropin is Chairman, Founder and a Principal of Graham Capital Management (“GCM”). In May 1994, he founded GCM and became an Associated Person and Principal effective July 27, 1994. Mr. Tropin developed the firm's original trading programs and is responsible for the overall management of the organization, including the investment of its proprietary trading capital. Mr. Tropin’s current responsibilities at Graham include oversight of the Firm’s quantitative research process and discretionary portfolio managers, Chairman of the Firm’s Management and Investment Committees, and Senior Member of the Firm’s Risk and Compliance Committees. Additionally, Mr. Tropin is responsible for managing the strategic investment of the Firm’s proprietary capital. Prior to founding Graham, Mr. Tropin had significant experience in the alternative investment industry, including 5 years (1989-1993) as President and Chief Executive Officer of John W. Henry & Company, Inc. and 8 years (1981-1989) as Senior Vice President and Director of Managed Futures at Dean Witter Reynolds. Mr. Tropin has also served as Chairman of the Managed Funds Association and its predecessor organization, which he was instrumental in founding during the 1980’s.

Pablo Calderini


Start Date

Tenure

Tenure Rank

Mar 11, 2016

4.73

4.7%

Pablo Calderini is the President and Chief Investment Officer of GCM and, among other things, is responsible for the management and oversight of the discretionary and systematic trading businesses at GCM. He joined GCM in August 2010 and became an Associated Person and Principal of GCM effective August 13, 2010. Prior to joining GCM, Mr. Calderini worked at Deutsche Bank from June 1997 to July 2010 where he held positions of increasing responsibility, most recently the Global Head of Equity Proprietary Trading. Mr. Calderini commenced his career at Deutsche Bank as Global Head of Emerging Markets. During his tenure at Deutsche Bank, Mr. Calderini also helped manage several groups across the fixed income and equity platforms, including the Global Credit Derivatives Team. Mr. Calderini received a B.A. in Economics from Universidad Nacional de Rosario in 1987 and a Masters in Economics from Universidad del Cema in 1988, each in Argentina.

Michael Mundt


Start Date

Tenure

Tenure Rank

Mar 11, 2016

4.73

4.7%

Michael Mundt, Principal and Chief Compliance Officer. Michael’s tasks at Revolution primarily consist of model development, business/marketing, and coordinating Revolution’s overall business and trading strategy. Michael’s background is in engineering and applied science. He received his B.S. in Aerospace Engineering from the University of Colorado in 1989. He was awarded a Ph.D. in Aerospace Engineering in 1993, also from the University of Colorado; his thesis involved the exploration of chaos and turbulence in simple weather/climate models. After the completion of his academic studies, Michael transitioned into the technology industry. He was employed by Seagate Technology (a hard-disk drive company) as an engineer specializing in computational fluid mechanics between March 1998 and July 2007. He currently holds nineteen U.S. patents in the area of disk-drive head/disk mechanics. Michael has been registered with the National Futures Association as an Associated Person since 2004 and has been a listed Principal of Revolution since December 2004.

Theodore Olson


Start Date

Tenure

Tenure Rank

Mar 11, 2016

4.73

4.7%

Rob oversees the architecture and development of the hardware and software computing infrastructure at Revolution. Rob received his B.S. in Aerospace Engineering at the University of Arizona in 1989. He received his M.S. and Ph.D. in Aerospace Engineering at the University of Colorado in 1992 and 1996, respectively. Rob was employed at Raytheon Technology, an aerospace defense contractor, from June 1996 through June 2006. His primary job duties included code/software development, data analysis, and the development of statistical algorithms to process high-frequency, real- time data. Rob is familiar with a wide range of computing languages (e.g. Fortran, C, C++, Java), operating systems (e.g. Windows, Linux, Unix, Mac OS X), and application software (e.g. Perl, Matlab, Tcl/Tk). Rob has been registered with the National Futures Association as an Associated Person since 2008 and has been a listed Principal of Revolution since September 2005.

Barry Goodman


Start Date

Tenure

Tenure Rank

Mar 11, 2016

4.73

4.7%

Mr. Goodman is Co-Chief Executive Officer and Executive Director of Trading of Millburn, and is a member of Millburn’s Investment Committee. Mr. Goodman joined Millburn in 1982 as Assistant Director of Trading. He played an important role in the development of several key investment directions at the firm, including projects taken from inception through to execution and ongoing support. Today, Mr. Goodman’s role is focused on strategic initiatives and the enhancement of capabilities across all critical operating areas of the firm. From 1979 through late 1982, prior to joining Millburn, Mr. Goodman was with E. F. Hutton & Co., Inc. At Hutton, the majority of his time was spent in trading, where he designed and maintained various technical indicators and coordinated research projects pertaining to the futures markets. Mr. Goodman graduated magna cum laude from Harpur College of the State University of New York in 1979 with a B.A. in economics. He has been a featured speaker at industry events in the United States, Europe and Asia.

Harvey Beker


Start Date

Tenure

Tenure Rank

Mar 11, 2016

4.73

4.7%

Mr. Beker has been Co-Chairman of Millburn since 1984 and serves as a member of Millburn’s Investment Committee. Until November 1, 2015, Mr. Beker also served as Co-Chief Executive Officer of Millburn and Chief Executive Officer and Chairman of its affiliate, The Millburn Corporation. He received a Bachelor of Arts degree in economics from New York University (“NYU”) in 1974 and a Master of Business Administration degree in finance from NYU in 1975. From June 1975 to July 1977, Mr. Beker was employed by the investment bank Loeb Rhoades, Inc. where he developed and traded silver arbitrage strategies. From July 1977 to June 1978, Mr. Beker was a futures trader at the commodities and securities brokerage firm of Clayton Brokerage Co. of St. Louis. Mr. Beker has been employed by The Millburn Corporation since June 1978. He initially served as the Director of Operations for its affiliate, Millburn Partners, and most recently thereafter served as Co-Chief Executive Officer of The Millburn Corporation until November 1, 2015. During his tenure at Millburn (including its affiliates, Millburn Partners and CommInVest), he has been instrumental in the development of the research, trading and operations areas. Mr. Beker became a principal of the firm in June 1982, and a partner in the predecessor to ShareInVest in April 1982. Mr. Beker became registered as an Associated Person and a Swap Associated Person of the Millburn Ridgefield Corporation effective November 25, 1986 and March 8, 2013, respectively. Additionally, he was listed as a Principal and registered as an Associated Person and a Swap Associated Person of The Millburn Corporation effective February 8, 1984, May 23, 1989 and March 8, 2013, respectively, until November 1, 2015. He was also listed as a Principal and registered as an Associated Person of ShareInVest effective February 20, 1986 until February 25, 2007. Mr. Beker has also served as Co-Chairman of each entity in Millburn International Group since inception.

Sean Katof


Start Date

Tenure

Tenure Rank

Mar 28, 2016

4.68

4.7%

Sean Katof, CFA, has served as Senior Vice President and Portfolio Manager for the Funds since 2016. Prior to joining LoCorr, Mr. Katof served as Director of Capital Markets at SLOCUM, an institutional consulting firm, from 2005 to 2015. Prior to joining SLOCUM, Mr. Katof served as Portfolio Manager at Devenir Investment Advisors where he managed the Industry Leaders Core Equity portfolio from 2004 to 2005. Prior to that, Mr. Katof was a Vice President and Portfolio Manager at INVESCO Funds Group where he worked from 1994 to 2003. Mr. Katof received his B.S. in Business Administration with an emphasis in Finance from the University of Colorado at Boulder and an M.S. in Finance from the University of Colorado at Denver. Mr. Katof holds the Chartered Financial Analyst (“CFA”) and Chartered Alternative Investment Analyst (“CAIA”) designations.

Tony Rodriguez


Start Date

Tenure

Tenure Rank

May 01, 2017

3.59

3.6%

Tony Rodriguez, Portfolio Manager. Mr. Rodriguez joined Nuveen in 2002 and serves as co-head of fixed income. Mr. Rodriguez served as a head of global corporate bonds for Credit Suisse Asset Management and managing director and head of corporate bonds for Prudential Global Asset Management. He received a B.A. in economics from Lafayette College and an M.B.A. in finance from New York University

Peter Agrimson


Start Date

Tenure

Tenure Rank

May 01, 2018

2.59

2.6%

Peter is a portfolio manager for Nuveen’s global fixed income team and the lead portfolio of the Short Duration Multi-Sector strategy and related institutional portfolios. Prior to his current role, he was a member of the securitized debt sector team, responsible for trading mortgage-backed securities, asset-backed securities and commercial mortgage-backed securities. Peter also performed credit analysis and surveillance for the firm’s mortgage backed securities and asset-backed securities portfolios. Before joining the firm in 2008, he served as credit analyst at Long Lake Partners, LLC, where he performed credit analysis for the company’s structured products portfolio. Peter graduated with a B.S. in Finance from Northern Illinois University. He holds the CFA® designation and is a member of the CFA® Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 13.76 5.22 3.59
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