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Trending ETFs

Destinations Multi Strategy Alternatives Fund

mutual fund
DMSZX
Payout Change
Pending
Price as of:
$10.2 +0.01 +0.1%
primary theme
N/A
share class
DMSZX (Mutual Fund)

Destinations Multi Strategy Alternatives Fund

Payout Change
Pending
Price as of:
$10.2 +0.01 +0.1%
primary theme
N/A
share class
DMSZX (Mutual Fund)

Destinations Multi Strategy Alternatives Fund

Payout Change
Pending
Price as of:
$10.2 +0.01 +0.1%
primary theme
N/A
share class

Name

As of 10/10/2024

Price

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

$10.20

$721 M

6.12%

$0.62

1.65%

Vitals

YTD Return

5.2%

1 yr return

8.8%

3 Yr Avg Return

5.3%

5 Yr Avg Return

6.7%

Net Assets

$721 M

Holdings in Top 10

34.7%

52 WEEK LOW AND HIGH

$10.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.65%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 90.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/10/2024

Price

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

$10.20

$721 M

6.12%

$0.62

1.65%

DMSZX - Profile

Distributions

  • YTD Total Return 5.2%
  • 3 Yr Annualized Total Return 5.3%
  • 5 Yr Annualized Total Return 6.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.10%
DIVIDENDS
  • Dividend Yield 6.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Destinations Multi Strategy Alternatives Fund
  • Fund Family Name
    Destinations Funds
  • Inception Date
    Mar 20, 2017
  • Shares Outstanding
    N/A
  • Share Class
    Z
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Amy Magnotta

Fund Description

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.
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DMSZX - Performance

Return Ranking - Trailing

Period DMSZX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.2% -73.0% 19.4% 45.88%
1 Yr 8.8% -9.1% 86.9% 10.18%
3 Yr 5.3%* -9.5% 16.2% 20.88%
5 Yr 6.7%* -4.9% 14.4% N/A
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Return Ranking - Calendar

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

Total Return Ranking - Trailing

Period DMSZX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.2% -73.0% 19.4% 45.88%
1 Yr 8.8% -13.4% 86.9% 9.45%
3 Yr 5.3%* -9.5% 16.2% 19.28%
5 Yr 6.7%* -5.3% 14.4% N/A
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Total Return Ranking - Calendar

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

NAV & Total Return History


DMSZX - Holdings

Concentration Analysis

DMSZX Category Low Category High DMSZX % Rank
Net Assets 721 M 1.5 M 5.01 B 14.02%
Number of Holdings 143 4 4478 56.54%
Net Assets in Top 10 255 M -398 M 2.55 B 22.97%
Weighting of Top 10 34.67% 13.1% 100.0% 72.02%

Top 10 Holdings

  1. JPMORGAN STRATEGIC INCOME OPPORTUNITIES FUND CL R6 0.00000000 18.99%
  2. PALM VALLEY CAPITAL FUND CL INVESTOR 0.00000000 3.03%
  3. BARINGS CLO LTD 2021-I SER 2021-1A CL B V/R REGD 144A P/P 6.98516000 1.84%
  4. VISTRA CORP REGD V/R /PERP/ 144A P/P 7.00000000 1.78%
  5. SERVICE PROPERTIES TRUST REGD 144A P/P 8.62500000 1.74%
  6. ARROW BIDCO LLC REGD 144A P/P 10.75000000 1.67%
  7. CRINETICS PHARMACEUTICALS IN 0.00000000 1.51%
  8. GOLDEN ENTERTAINMENT INC 0.00000000 1.46%
  9. SANTANDER DRIVE AUTO RECEIVABLES TRUST 2022-2 SER 2022-2 CL B REGD 3.44000000 1.33%
  10. XENON PHARMACEUTICALS INC 0.00000000 1.32%

Asset Allocation

Weighting Return Low Return High DMSZX % Rank
Bonds
51.66% -326.45% 6347.80% 23.67%
Stocks
33.35% -3.75% 97.95% 59.72%
Cash
14.08% -6278.21% 410.43% 43.11%
Other
0.91% -21.53% 148.54% 72.08%
Convertible Bonds
0.70% 0.00% 87.92% 23.32%
Preferred Stocks
0.00% -0.12% 46.97% 9.89%

Stock Sector Breakdown

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%

Stock Geographic Breakdown

Weighting Return Low Return High DMSZX % Rank
US
33.35% -8.85% 91.88% 42.76%
Non US
0.00% -19.62% 42.11% 76.68%

Bond Sector Breakdown

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
0.91% 0.00% 88.81% 21.55%
Government
0.12% 0.00% 84.29% 84.81%
Cash & Equivalents
0.00% 0.27% 100.00% 61.13%
Municipal
0.00% 0.00% 27.33% 56.54%

Bond Geographic Breakdown

Weighting Return Low Return High DMSZX % Rank
US
51.66% -126.19% 6311.18% 19.43%
Non US
0.00% -382.37% 121.02% 57.95%

DMSZX - Expenses

Operational Fees

DMSZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.65% 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

Sales Fees

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

Trading Fees

DMSZX 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.

DMSZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 90.00% 0.00% 491.00% 44.35%

DMSZX - Distributions

Dividend Yield Analysis

DMSZX Category Low Category High DMSZX % Rank
Dividend Yield 6.12% 0.00% 4.56% 44.88%

Dividend Distribution Analysis

DMSZX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

DMSZX Category Low Category High DMSZX % Rank
Net Income Ratio 1.10% -2.51% 6.83% 3.96%

Capital Gain Distribution Analysis

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

Distributions History

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DMSZX - Fund Manager Analysis

Managers

Amy Magnotta


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.

Michael Caldwell


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.

Yoav Sharon


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

Leigh Lowman


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.

Thomas McCauley


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.

David Weeks


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.

Ajit Kumar


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.

Edwin Tsui


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.

Andreas Eckner


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.

Guillaume Horel


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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67