Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 04/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
1.5%
1 yr return
11.2%
3 Yr Avg Return
4.3%
5 Yr Avg Return
5.6%
Net Assets
$821 M
Holdings in Top 10
33.1%
Expense Ratio 1.70%
Front Load N/A
Deferred Load N/A
Turnover 90.00%
Redemption Fee N/A
Standard (Taxable)
$0
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 04/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund, under normal market conditions, employs a strategy intended to generate long term growth across market cycles with reduced correlation to the equity and fixed income markets.
The Fund employs a “multi-manager” strategy whereby the Adviser allocates the Fund’s assets among professional money managers (each, a “Sub-adviser,” collectively, the “Sub-advisers”), each of which is responsible for investing its allocated portion of the Fund’s assets. The Adviser may also invest a portion of the Fund’s assets in unaffiliated funds that are registered under the Investment Company Act of 1940, as amended (the “1940 Act”), and that have investment objectives and principal investment strategies consistent with those of the Fund, including open-end funds, closed-end funds and exchange traded funds (ETFs), which may be passively managed (i.e., index-tracking) or actively managed. The Fund may specifically use ETFs to gain passive investment exposure, transitioning the Fund’s portfolio or awaiting an opportunity to purchase securities directly. When determining how to allocate the Fund’s assets between the unaffiliated funds and Sub-advisers, and among Sub-advisers, the Adviser considers a variety of factors.
The unaffiliated funds or Sub-advisers that are employed may apply any of a variety of investment strategies, which may include: (i) directional or tactical strategies, such as long/short equity, long/short credit and global tactical asset allocation; (ii) event driven strategies, such as distressed securities, special situations and merger arbitrage; (iii) arbitrage strategies, such as fixed income or interest rate arbitrage, convertible arbitrage, and equity market neutral; (iv) global macro strategies; and (v) relative value credit strategies. A short sale involves the sale of a security that the Fund does not own in the expectation of purchasing the same security (or a security exchangeable therefore) at a later date at a lower price.
The Fund invests primarily in U.S., foreign and emerging markets securities, equity securities of all types and capitalization ranges, investment and non-investment grade fixed income securities (junk bonds) of any duration or maturity issued by corporations or governments (including foreign governments), bank loans, commodities, currencies, warrants, depositary receipts, real estate investment trust (REITs), structured products, including mortgage-backed securities and collateralized loan obligations (CLOs), floating rate instruments, ETFs, exchange-traded notes and derivative instruments (which may involve leverage), principally, options, futures contracts, options on futures contracts, forward contracts and swap agreements. In addition, the Fund may invest in cash and cash equivalents, commercial paper, money market instruments and other short-term obligations to achieve its investment goal. An active management Sub-adviser will select securities based on its assessment of one or more of a variety of factors.
The Fund may invest in publicly or private offered special purpose acquisition companies (“SPACs”) to the extent that a Sub-adviser believes that such investments will help the Fund to meet its investment objective. SPACs are collective investment structures that pool funds in order to seek potential acquisition opportunities.
In selecting investments for purchase and sale, the Sub-advisers may seek investment opportunities where a catalyst has been identified that is expected to occur within the near to immediate term, generally within twelve months, to unlock the value embedded in the investment opportunity.
The Fund may invest a significant portion of its assets in a particular geographic region or country, including emerging markets countries.
The Fund may lend portfolio securities to earn additional income. Any income realized through securities lending may help Fund performance.
A Sub-adviser may sell a security for a variety of reasons, such as where the Sub-adviser believes the Fund needs to generate cash to invest in more attractive opportunities, the average maturity of the Fund needs to be adjusted and the country or sector exposure needs to be altered.
Due to its investment strategy, the Fund may buy and sell securities and other instruments frequently.
Period | DMSZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.5% | -73.0% | 19.4% | 45.88% |
1 Yr | 11.2% | -9.1% | 86.9% | 10.18% |
3 Yr | 4.3%* | -9.5% | 16.2% | 20.88% |
5 Yr | 5.6%* | -4.9% | 14.4% | N/A |
10 Yr | N/A* | -0.9% | 7.5% | N/A |
* Annualized
Period | DMSZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.5% | -22.7% | 305.1% | 10.37% |
2022 | -6.4% | -9.8% | 27.3% | 59.27% |
2021 | 0.5% | -20.8% | 10.9% | N/A |
2020 | 8.1% | -12.4% | 29.4% | N/A |
2019 | 3.9% | -10.5% | 15.8% | N/A |
Period | DMSZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.5% | -73.0% | 19.4% | 45.88% |
1 Yr | 11.2% | -13.4% | 86.9% | 9.45% |
3 Yr | 4.3%* | -9.5% | 16.2% | 19.28% |
5 Yr | 5.6%* | -5.3% | 14.4% | N/A |
10 Yr | N/A* | -0.9% | 7.5% | N/A |
* Annualized
Period | DMSZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.0% | -22.7% | 305.1% | 10.74% |
2022 | -3.3% | -9.8% | 27.3% | 60.48% |
2021 | 5.5% | -20.8% | 10.9% | N/A |
2020 | 10.1% | -8.4% | 29.4% | N/A |
2019 | 9.1% | -10.2% | 18.0% | N/A |
DMSZX | Category Low | Category High | DMSZX % Rank | |
---|---|---|---|---|
Net Assets | 821 M | 1.5 M | 5.01 B | 14.02% |
Number of Holdings | 156 | 4 | 4478 | 56.54% |
Net Assets in Top 10 | 271 M | -398 M | 2.55 B | 22.97% |
Weighting of Top 10 | 33.09% | 13.1% | 100.0% | 72.02% |
Weighting | Return Low | Return High | DMSZX % Rank | |
---|---|---|---|---|
Bonds | 50.31% | -326.45% | 6347.80% | 23.67% |
Stocks | 29.41% | -3.75% | 97.95% | 59.72% |
Cash | 20.12% | -6278.21% | 410.43% | 43.11% |
Convertible Bonds | 0.70% | 0.00% | 87.92% | 23.32% |
Other | 0.16% | -21.53% | 148.54% | 72.08% |
Preferred Stocks | 0.00% | -0.12% | 46.97% | 9.89% |
Weighting | Return Low | Return High | DMSZX % Rank | |
---|---|---|---|---|
Financial Services | 42.90% | 0.00% | 59.28% | 6.30% |
Industrials | 20.03% | 0.00% | 21.45% | 88.58% |
Consumer Cyclical | 16.31% | 0.00% | 29.09% | 97.24% |
Healthcare | 15.85% | 0.00% | 45.63% | 0.79% |
Technology | 4.39% | 0.00% | 39.58% | 97.24% |
Energy | 0.16% | 0.00% | 100.00% | 87.01% |
Consumer Defense | 0.11% | 0.00% | 13.62% | 99.21% |
Basic Materials | 0.09% | 0.00% | 27.46% | 98.82% |
Utilities | 0.06% | 0.00% | 9.23% | 99.21% |
Communication Services | 0.06% | 0.00% | 21.78% | 91.34% |
Real Estate | 0.04% | 0.00% | 51.26% | 16.14% |
Weighting | Return Low | Return High | DMSZX % Rank | |
---|---|---|---|---|
US | 29.41% | -8.85% | 91.88% | 42.76% |
Non US | 0.00% | -19.62% | 42.11% | 76.68% |
Weighting | Return Low | Return High | DMSZX % Rank | |
---|---|---|---|---|
Securitized | 37.22% | 0.00% | 56.83% | 3.89% |
Corporate | 14.11% | 0.00% | 87.73% | 40.99% |
Derivative | 0.16% | 0.00% | 88.81% | 21.55% |
Government | 0.12% | 0.00% | 84.29% | 84.81% |
Cash & Equivalents | 0.07% | 0.27% | 100.00% | 61.13% |
Municipal | 0.00% | 0.00% | 27.33% | 56.54% |
Weighting | Return Low | Return High | DMSZX % Rank | |
---|---|---|---|---|
US | 50.31% | -126.19% | 6311.18% | 19.43% |
Non US | 0.00% | -382.37% | 121.02% | 57.95% |
DMSZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.70% | 0.29% | 31.15% | 64.03% |
Management Fee | 1.35% | 0.00% | 2.50% | 78.45% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.30% | N/A |
DMSZX 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 |
DMSZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
DMSZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 90.00% | 0.00% | 491.00% | 44.35% |
DMSZX | Category Low | Category High | DMSZX % Rank | |
---|---|---|---|---|
Dividend Yield | 14.58% | 0.00% | 4.56% | 44.88% |
DMSZX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Quarterly | Annually |
DMSZX | Category Low | Category High | DMSZX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.10% | -2.51% | 6.83% | 3.96% |
DMSZX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.049 | OrdinaryDividend |
Dec 29, 2023 | $0.369 | OrdinaryDividend |
Sep 29, 2023 | $0.147 | OrdinaryDividend |
Jun 30, 2023 | $0.142 | OrdinaryDividend |
Mar 31, 2023 | $0.038 | OrdinaryDividend |
Dec 30, 2022 | $0.141 | OrdinaryDividend |
Sep 30, 2022 | $0.074 | OrdinaryDividend |
Jun 30, 2022 | $0.052 | OrdinaryDividend |
Mar 31, 2022 | $0.017 | OrdinaryDividend |
Dec 30, 2021 | $0.172 | OrdinaryDividend |
Sep 30, 2021 | $0.025 | OrdinaryDividend |
Jun 29, 2021 | $0.029 | OrdinaryDividend |
Mar 30, 2021 | $0.011 | OrdinaryDividend |
Dec 30, 2020 | $0.037 | OrdinaryDividend |
Sep 30, 2020 | $0.045 | OrdinaryDividend |
Jun 30, 2020 | $0.060 | OrdinaryDividend |
Mar 31, 2020 | $0.024 | OrdinaryDividend |
Dec 27, 2019 | $0.159 | OrdinaryDividend |
Dec 16, 2019 | $0.033 | OrdinaryDividend |
Sep 26, 2019 | $0.094 | OrdinaryDividend |
Jun 27, 2019 | $0.129 | OrdinaryDividend |
Mar 28, 2019 | $0.042 | OrdinaryDividend |
Dec 27, 2018 | $0.132 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Mar 20, 2017
5.2
5.2%
Amy Magnotta is the Co-head of Discretionary Portfolios at Brinker Capital Investments. In this role, she oversees the firm’s discretionary portfolio offerings and implementation of Brinker Capital’s asset allocation and manager selection decisions. Amy has primary portfolio management responsibilities for Brinker Capital’s mutual fund program, Destinations. She has over 20 years of industry experience. Prior to joining Brinker Capital Investments, Amy was a Consultant for Franklin Park Associates LLC, where she selected private equity investments for institutional clients. She also served in a fixed income product management and institutional client service role at BlackRock Inc. Amy graduated from Lehigh University with a Bachelor of Science in finance. She is a CFA® charterholder and a member of the CFA Institute and the CFA® Society of Philadelphia.
Start Date
Tenure
Tenure Rank
Mar 20, 2017
5.2
5.2%
Michael Caldwell serves as a Senior Analyst on the Driehaus Micro Cap Growth and Driehaus Small Cap Growth strategies and was promoted to Assistant Portfolio Manager of the Driehaus Event Driven strategy in 2013. Prior to joining Driehaus Capial Management in 2008, Mr. Caldwell worked as a graduate research associate for the department of biomedical engineering at Yale University in 2007. Mr. Caldwell began his career as Co-Founder and Managing Director of Ivy Concierge, LLC from 2005-2007.
Start Date
Tenure
Tenure Rank
Mar 20, 2017
5.2
5.2%
Mr. Sharon earned his B.A. from Northwestern in 2003 and M.B.A. in finance, international business, and management and strategy from the Kellogg Graduate School of Management at Northwestern University in 2010. Yoav Sharon has been an Assistant Portfolio Manager for the Driehaus Event Driven strategy since 2015. Mr. Sharon also serves as the firm’s Senior Options Analyst, a role he has held since joining Driehaus in 2012. Prior to joining Driehaus, Mr. Sharon worked at Peak6 Investments, LLC as a Senior Analyst and trader from 2010 to 2012. From 2005 to 2008, Mr. Sharon served as a Managing Member of a firm he helped found, Raya Trading LLC. From 2002 to 2004, Mr. Sharon held positions of increasing responsibility at STR Trading Partners LLC, leaving that firm with a title of Senior Trader
Start Date
Tenure
Tenure Rank
Mar 20, 2017
5.2
5.2%
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.
Start Date
Tenure
Tenure Rank
Dec 31, 2017
4.42
4.4%
Mr. McCauley received his B.S. in Finance and Accounting from Tulane University in 2004 and an M.B.A. from the University of Chicago in 2011. He is a CFA® charterholder. From 2004 through 2006, Mr. McCauley was an Analyst focused on corporate debt underwriting and merger and acquisition advisory at ABN AMRO bank. From 2006 through 2009, Mr. McCauley was an Associate with Merit Capital Partners, a private equity investment firm. From 2011 through 2013, Mr. McCauley was an Investment Analyst with Chicago Fundamental Investment Partners, a hedge fund focused on investing across the capital structure in stressed and distressed opportunities. In 2013, he joined Driehaus as a Senior Analyst.
Start Date
Tenure
Tenure Rank
Mar 08, 2019
3.23
3.2%
David Weeks is the Managing Director for the Serenitas team. Mr. Weeks joined LMCG in May 2015 by virtue of LMCG’s acquisition of certain assets of Serenitas Capital. Prior to joining LMCG, Mr. Weeks was Chief Investment Officer of Serenitas Capital, a firm he co-founded in 2012. Mr. Weeks held previous positions as Managing Director at Merrill Lynch, where he was responsible for the proprietary trading of Non-Agency Residential Mortgage Backed Securities from 2006 to 2011. He spent seven years managing the Merrill Lynch CLO Trading desk, where he traded CLOs, CBOs and TruPS CDOs. Prior to that, Mr. Weeks worked for six years as a structured products analyst at Moody's Investors Service. Earlier in his career, Mr. Weeks traded equity options for ten years as a market maker on the floor of Philadelphia Stock Exchange, after working for two years as a specialist clerk on the American Stock Exchange. Mr. Weeks received a B.S. in Finance from Lehigh University.
Start Date
Tenure
Tenure Rank
Mar 08, 2019
3.23
3.2%
Mr. Kumar is the Portfolio Manager for investment-grade credit correlation products. Prior to joining LMCG, Mr. Kumar was a Portfolio Manager at Serenitas. Mr. Kumar previously worked at Merrill Lynch where he served as a Director responsible for the proprietary trading of credit correlation products from 2005 to 2011, and, prior to that, he traded arbitrage relationships and relative value opportunities. Previously, Mr. Kumar worked at Morgan Stanley. Mr. Kumar received his Bachelors of Engineering in Computer Science from C.R. State College of Engineering, his MBA from McGill University, and his M.S. in Financial Mathematics from Stanford University. Mr. Kumar holds the Chartered Financial Analyst designation from the CFA Institute and is a member of New York Society of Security Analysts.
Start Date
Tenure
Tenure Rank
Mar 08, 2019
3.23
3.2%
Mr. Tsui is a Co-Portfolio Manager for CLOs and high-yield credit correlation products. Prior to joining LMCG, Mr. Tsui was a Portfolio Manager at Serenitas. Mr. Tsui previously worked at Merrill Lynch serving as a Director first in charge of the proprietary trading of subprime bonds and subsequently the portfolio manager for the proprietary trading of CLOs and tranches of the HYCDX and LCDX credit indices. Mr. Tsui started his career at Merrill Lynch in 2004 as a structurer in the asset based principal investments group. Mr. Tsui received his M.S. in Mathematics in Finance from the Courant Institute of New York University and his undergraduate Masters of Physics degree from the University of Oxford. Mr. Tsui holds the Chartered Financial Analyst designation from the CFA Institute and is a member of New York Society of Security Analysts.
Start Date
Tenure
Tenure Rank
Mar 08, 2019
3.23
3.2%
Mr. Eckner is the Portfolio Manager for residential mortgage backed securities (“RMBS”). Prior to joining LMCG, Mr. Eckner was a Portfolio Manager at Serenitas. Mr. Eckner previously worked at Merrill Lynch serving as Vice President in proprietary trading where he traded RMBS from 2007 to 2011. Prior to joining the financial industry, Mr. Eckner was at Stanford University where he completed a Ph.D. in Statistics and served on the admissions committee for the M.S. program in Financial Mathematics.
Start Date
Tenure
Tenure Rank
Mar 08, 2019
3.23
3.2%
Mr. Horel is a Co-Portfolio Manager for CLOs and high-yield credit correlation products. Prior to joining LMCG, Mr. Horel was a Portfolio Manager at Serenitas. Mr. Horel previously worked at Merrill Lynch serving as a Vice President in proprietary trading where he traded CLOs from 2007 to 2011. Prior to joining Merrill Lynch, he worked for the structured credit analytics group at Goldman Sachs. Mr. Horel graduated with a degree in Engineering from Ecole Centrale and a degree in Economics from Panthéon-Sorbonne University in Paris. He holds a M.S. in Financial Mathematics and a Ph.D. in Statistics, both from Stanford University.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.02 | 17.37 | 4.48 | 1.67 |
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