MXIIX: Touchstone Flexible Income Y

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MXIIX Touchstone Flexible Income Y


Profile

MXIIX - Profile

Vitals

  • YTD Return 2.3%
  • 3 Yr Annualized Return 0.4%
  • 5 Yr Annualized Return 1.1%
  • Net Assets $744 M
  • Holdings in Top 10 25.8%

52 WEEK LOW AND HIGH

$11.16
$9.31
$11.32

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.87%

SALES FEES

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

BROKERAGE FEES

  • Turnover 136.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA $1,000

Fund Classification

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

Distributions

  • YTD Total Return 2.3%
  • 3 Yr Annualized Total Return 2.2%
  • 5 Yr Annualized Total Return 3.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.37%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Touchstone Flexible Income Fund
  • Fund Family Name
    Touchstone
  • Inception Date
    Sep 01, 1998
  • Shares Outstanding
    N/A
  • Share Class
    No Load
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Derek Pines

Fund Description

Under normal circumstances, the fund invests at least 80% of its assets in income-producing securities such as investment grade corporate bonds, high yield bonds (i.e., junk bonds), preferred stocks, municipal bonds, and U.S. Treasuries. It may also invest in fixed income closed-end funds, dividend-paying equities and other debt securities including but not limited to U.S. government securities, variable- and floating-rate instruments, and mortgage- and asset-backed securities.


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Categories

Performance

MXIIX - Performance

Return Ranking - Trailing

Period MXIIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -55.0% 9.4% 14.67%
1 Yr 2.6% -55.3% 10.9% 24.23%
3 Yr 0.4%* -40.3% 4.9% 21.66%
5 Yr 1.1%* -35.0% 20.2% 18.75%
10 Yr N/A* -5.9% 1.3% 10.96%

* Annualized

Return Ranking - Calendar

Period MXIIX Return Category Return Low Category Return High Rank in Category (%)
2019 4.6% -35.1% 15.3% 68.70%
2018 -5.3% -48.0% 0.8% 38.87%
2017 3.9% -14.8% 11.2% 20.88%
2016 1.0% -11.2% 19.1% 81.25%
2015 -0.8% -51.1% 4.0% 2.01%

Total Return Ranking - Trailing

Period MXIIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -55.0% 9.4% 14.67%
1 Yr 2.6% -55.3% 7.8% 24.23%
3 Yr 2.2%* -40.3% 3.9% 11.78%
5 Yr 3.4%* -35.0% 20.2% 11.03%
10 Yr N/A* -5.9% 5.1% 11.64%

* Annualized

Total Return Ranking - Calendar

Period MXIIX Return Category Return Low Category Return High Rank in Category (%)
2019 5.3% -35.1% 15.3% 59.13%
2018 -1.5% -48.0% 4.5% 14.42%
2017 6.8% -14.8% 14.0% 17.85%
2016 3.9% -11.2% 22.5% 54.51%
2015 2.5% -51.1% 4.0% 2.01%

NAV & Total Return History


Holdings

MXIIX - Holdings

Concentration Analysis

MXIIX Category Low Category High MXIIX % Rank
Net Assets 744 M 5 M 126 B 41.96%
Number of Holdings 178 5 7722 80.86%
Net Assets in Top 10 173 M -418 M 29.7 B 36.66%
Weighting of Top 10 25.80% 4.8% 214.0% 48.63%

Top 10 Holdings

  1. Macy's, Inc. 8.38% 3.64%
  2. The Boeing Company 4.51% 3.00%
  3. BP Capital Markets plc 4.88% 2.97%
  4. General Motors Company 1.21% 2.71%
  5. Sempra Energy 4.88% 2.64%
  6. Huntington Bancshares Incorporated 5.62% 2.53%
  7. The Charles Schwab Corporation 5.38% 2.50%
  8. Regions Financial Corporation 5.75% 2.01%
  9. Ares Management Corp A 1.93%
  10. Citizens Financial Group Inc 5.65% 1.87%

Asset Allocation

Weighting Return Low Return High MXIIX % Rank
Bonds
75.07% 14.17% 236.60% 89.30%
Preferred Stocks
22.64% 0.00% 39.23% 1.08%
Cash
2.04% -142.79% 75.97% 63.07%
Other
0.11% -8.59% 28.22% 21.56%
Convertible Bonds
0.10% 0.00% 25.59% 81.67%
Stocks
0.03% -0.27% 13.09% 51.60%

Stock Sector Breakdown

Weighting Return Low Return High MXIIX % Rank
Basic Materials
21.63% 0.00% 29.46% 2.77%
Real Estate
17.63% 0.00% 100.00% 13.44%
Communication Services
14.88% 0.00% 100.00% 17.79%
Consumer Cyclical
14.71% 0.00% 100.00% 22.53%
Utilities
9.05% 0.00% 100.00% 21.34%
Financial Services
9.05% 0.00% 100.00% 29.64%
Healthcare
7.46% 0.00% 100.00% 33.99%
Energy
3.00% 0.00% 100.00% 26.09%
Technology
1.25% 0.00% 29.78% 24.90%
Industrials
0.83% 0.00% 100.00% 33.60%
Consumer Defense
0.50% 0.00% 23.37% 20.95%

Stock Geographic Breakdown

Weighting Return Low Return High MXIIX % Rank
US
0.03% -0.33% 12.79% 50.94%
Non US
0.00% 0.00% 2.14% 59.03%

Bond Sector Breakdown

Weighting Return Low Return High MXIIX % Rank
Corporate
68.04% 0.00% 95.13% 20.49%
Securitized
28.28% 0.00% 99.22% 29.11%
Cash & Equivalents
2.54% 0.02% 84.27% 77.63%
Municipal
0.99% 0.00% 36.37% 23.45%
Government
0.12% 0.00% 99.16% 87.33%
Derivative
0.04% -0.44% 47.67% 48.79%

Bond Geographic Breakdown

Weighting Return Low Return High MXIIX % Rank
US
68.41% 10.76% 236.16% 47.98%
Non US
6.66% -16.32% 72.48% 85.18%

Expenses

MXIIX - Expenses

Operational Fees

MXIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.87% 0.06% 24.26% 70.96%
Management Fee 0.57% 0.00% 2.25% 52.99%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.70% 62.07%

Sales Fees

MXIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

MXIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

MXIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 136.00% 0.00% 421.00% 82.30%

Distributions

MXIIX - Distributions

Dividend Yield Analysis

MXIIX Category Low Category High MXIIX % Rank
Dividend Yield 0.00% 0.00% 5.76% 47.15%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MXIIX Category Low Category High MXIIX % Rank
Net Income Ratio 3.37% 0.96% 18.14% 65.85%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

MXIIX - Fund Manager Analysis

Managers

Derek Pines


Start Date

Tenure

Tenure Rank

Nov 30, 2018

1.75

1.8%

Derek Pines is a Portfolio Manager and Analyst at Bramshill Investments. Prior to joining Bramshill Investments in 2012, Mr. Pines spent 10 years as a Proprietary Trader and Portfolio Manager specializing in quantitative strategies across a variety of asset classes, the bulk of that time with Assent (Sungard Financial) and most recently Chimera Securities. He also spent a year with Accenture in their Core Trading Services Group. Mr. Pines holds a Masters Graduate Certificate in Algorithmic Trading from Stevens University. Mr. Pines graduated cum laude with a B.S. in finance from Georgetown University.

Art DeGaetano


Start Date

Tenure

Tenure Rank

Nov 30, 2018

1.75

1.8%

Art DeGaetano is a Principal of Bramshill Investments. Before starting Bramshill in May of 2012, Mr. DeGaetano was a Senior Portfolio Manager at GLG Partners from 2007. Prior to GLG Partners, he traded at RBS Greenwich Capital where he was a Managing Director and Head of Credit Trading for two years. Prior to RBS, he traded for 12 years for Bear Stearns and was a Senior Managing Director and Head Trader on the high yield desk. Mr. DeGaetano has a B.A. from Colgate University. Mr. DeGaetano has been the primary portfolio manager for the Bramshill Income Performance strategy since its inception in April 2016.

Michael Hirschfield


Start Date

Tenure

Tenure Rank

Nov 30, 2018

1.75

1.8%

Mr. Hirschfield is a Portfolio Manager at Bramshill Investments focusing on credit and special situations. He is a member of the firm’s investment committee. Before joining Bramshill Investments in 2018, Mr. Hirschfield served over 9 years as Portfolio Manager for Man Group, the world’s largest publicly listed Hedge Fund. He ran the US Credit portfolio for their GLG Market Neutral Fund, a multi-strategy credit fund. Michael also worked alongside Bramshill founder, Art DeGaetano, during their tenures together at GLG Partners, helping to develop the predecessor to the Bramshill Income Performance Strategy in 2009. Prior to GLG Partners, Michael was Head Trader for Cedarview Capital, an event-driven credit hedge fund. Prior to the buy-side, Mr. Hirschfield worked as a sell-side bond trader for FTN Financial on their Investment Grade Corporate Bond desk. Michael became a CFA charter holder in 2007. He received his B.A. in Economics in 2003 from Yale University. Michael co-founded the Bulldogs Care Foundation, a 501c charitable foundation which raises funds to support student-athlete development programs for underprivileged youth in NYC. The foundation honors four Yale Bulldogs who passed away in a tragic car accident in 2003. Michael serves on the board and has helped to raise over $1.1mm its since inception in 2007.

Paul Van Lingen


Start Date

Tenure

Tenure Rank

Nov 30, 2018

1.75

1.8%

Mr. van Lingen joined Bramshill in 2017. Prior to joining Bramshill, Paul was a Managing Director, Principal, and Portfolio Manager at Rimrock Capital Management where he served as Head of All Structured Products. Prior to that Mr. van Lingen was a Managing Director at RBS Greenwich Capital where he managed day to day trading activities.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 29.32 5.81 5.67