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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 12/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
3.9%
1 yr return
6.6%
3 Yr Avg Return
-2.3%
5 Yr Avg Return
0.0%
Net Assets
$180 M
Holdings in Top 10
31.1%
Expense Ratio 0.64%
Front Load N/A
Deferred Load N/A
Turnover 463.00%
Redemption Fee N/A
Standard (Taxable)
$5,000,000
IRA
$5,000,000
Fund Type
Open End Mutual Fund
Name
As of 12/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Under normal circumstances, the Fund invests in a portfolio of investment grade, U.S. fixed income securities of any maturity or duration. The Fund also may invest up to 20% of its net assets in any combination of high yield bonds (also known as “junk bonds”) and non-U.S. fixed income securities, including emerging market bonds. The Adviser considers high yield bonds to be those rated below BBB- or Baa3 by Moody’s Investor Services Inc. (“Moody’s”), Standard & Poor’s Rating Services (“S&P”) or Fitch, Inc. (“Fitch”), or if unrated, determined to be of comparable quality by the Adviser.
The Fund will invest primarily in U.S. corporate, government, mortgage-backed and asset-backed fixed income securities and privately issued securities (e.g., Rule 144A securities), but may also invest in U.S. Treasury interest rate futures, forward currency contracts and credit default swaps. The Fund may use U.S. Treasury interest-rate futures for hedging purposes, primarily to assist in the risk management and liquidity of the Fund. The Fund may also use forward currency contracts for currency hedging and credit default swaps to gain exposure that is not available in the cash bond market.
The Fund may also participate in “to-be-announced” transactions (“TBA Transactions”). A TBA Transaction is a method of trading mortgage-backed securities where the buyer and seller agree upon general trade parameters such as agency, settlement date, par amount and price at the time the contract is entered into but the mortgage-backed securities are delivered in the future, generally 30 days later. The actual pools of mortgage-backed securities delivered in a TBA Transaction typically are not determined until two days prior to the settlement date. Instead of receiving the pools, however, the Fund may participate in rolling TBA Transactions, which may significantly increase the Fund’s portfolio turnover rate.
The Adviser believes that the fixed income markets are efficient with respect to interest rate risk, but that bond markets regularly misprice securities that are exposed to credit, prepayment and liquidity risks. The Adviser seeks to exploit these inefficiencies by focusing on security and sector selection, and de-emphasizing duration management. The Adviser employs a “bottom-up” approach to constructing the Fund’s portfolio, leveraging its in-house credit research capabilities to determine the relative value of each fixed income security purchased by the Fund. The Adviser believes that proprietary, bottom-up, fundamental credit and structured products research, coupled with active trading is the best technique to identify the relative value of the individual securities and market sectors.
Period | LPCIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.9% | -4.9% | 11.5% | 26.53% |
1 Yr | 6.6% | -2.8% | 14.8% | 22.89% |
3 Yr | -2.3%* | -11.1% | 28.1% | 54.44% |
5 Yr | 0.0%* | -7.3% | 58.8% | 56.89% |
10 Yr | N/A* | -2.8% | 73.9% | N/A |
* Annualized
Period | LPCIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.4% | -16.2% | 8.1% | 78.17% |
2022 | -16.4% | -34.7% | 131.9% | 61.70% |
2021 | -2.5% | -11.6% | 4.4% | 14.13% |
2020 | 4.9% | -9.9% | 946.1% | 33.26% |
2019 | 3.4% | -1.7% | 16.9% | 89.80% |
Period | LPCIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.9% | -4.9% | 11.5% | 26.53% |
1 Yr | 6.6% | -2.8% | 14.8% | 22.89% |
3 Yr | -2.3%* | -11.1% | 28.1% | 54.44% |
5 Yr | 0.0%* | -7.3% | 58.8% | 56.89% |
10 Yr | N/A* | -2.8% | 73.9% | N/A |
* Annualized
Period | LPCIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.5% | -11.3% | 11.9% | 69.33% |
2022 | -14.2% | -32.2% | 131.9% | 71.49% |
2021 | -1.0% | -9.4% | 9.2% | 49.83% |
2020 | 7.6% | -1.9% | 1009.0% | 69.04% |
2019 | 9.6% | 1.1% | 21668.0% | 30.49% |
LPCIX | Category Low | Category High | LPCIX % Rank | |
---|---|---|---|---|
Net Assets | 180 M | 2.9 M | 314 B | 82.59% |
Number of Holdings | 293 | 1 | 17880 | 80.69% |
Net Assets in Top 10 | 34.6 M | 1.62 M | 35.1 B | 86.50% |
Weighting of Top 10 | 31.06% | 4.7% | 3984.6% | 27.84% |
Weighting | Return Low | Return High | LPCIX % Rank | |
---|---|---|---|---|
Bonds | 97.49% | 0.00% | 9231.88% | 37.10% |
Other | 9.48% | -27.25% | 1695.17% | 27.83% |
Cash | 1.89% | -54.51% | 237.69% | 62.72% |
Convertible Bonds | 1.44% | 0.00% | 7.93% | 50.73% |
Stocks | 0.00% | 0.00% | 99.98% | 56.58% |
Preferred Stocks | 0.00% | 0.00% | 72.34% | 51.30% |
Weighting | Return Low | Return High | LPCIX % Rank | |
---|---|---|---|---|
Securitized | 39.24% | 0.00% | 98.40% | 23.85% |
Government | 26.64% | 0.00% | 86.23% | 45.92% |
Corporate | 23.60% | 0.00% | 100.00% | 76.36% |
Derivative | 9.48% | -6.56% | 44.82% | 3.32% |
Cash & Equivalents | 1.89% | 0.00% | 237.69% | 59.61% |
Municipal | 0.28% | 0.00% | 100.00% | 58.05% |
Weighting | Return Low | Return High | LPCIX % Rank | |
---|---|---|---|---|
US | 97.49% | 0.00% | 9042.62% | 35.51% |
Non US | 0.00% | 0.00% | 189.26% | 58.57% |
LPCIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.64% | 0.01% | 39.64% | 54.86% |
Management Fee | 0.40% | 0.00% | 1.76% | 65.06% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.50% | 52.79% |
LPCIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
LPCIX 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.
LPCIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 463.00% | 2.00% | 493.39% | 93.45% |
LPCIX | Category Low | Category High | LPCIX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.06% | 0.00% | 10.11% | 34.51% |
LPCIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Monthly | Monthly | Monthly |
LPCIX | Category Low | Category High | LPCIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.20% | -1.28% | 4.79% | 80.61% |
LPCIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Sep 27, 2024 | $0.089 | OrdinaryDividend |
Jun 27, 2024 | $0.119 | OrdinaryDividend |
Mar 27, 2024 | $0.084 | OrdinaryDividend |
Dec 28, 2023 | $0.113 | OrdinaryDividend |
Sep 28, 2023 | $0.079 | OrdinaryDividend |
Jun 29, 2023 | $0.076 | OrdinaryDividend |
Mar 30, 2023 | $0.074 | OrdinaryDividend |
Dec 29, 2022 | $0.078 | OrdinaryDividend |
Sep 29, 2022 | $0.059 | OrdinaryDividend |
Jun 29, 2022 | $0.048 | OrdinaryDividend |
Mar 30, 2022 | $0.036 | OrdinaryDividend |
Dec 30, 2021 | $0.040 | OrdinaryDividend |
Sep 29, 2021 | $0.042 | OrdinaryDividend |
Jun 29, 2021 | $0.038 | OrdinaryDividend |
Mar 30, 2021 | $0.035 | OrdinaryDividend |
Dec 30, 2020 | $0.018 | OrdinaryDividend |
Dec 22, 2020 | $0.055 | CapitalGainShortTerm |
Dec 22, 2020 | $0.003 | CapitalGainLongTerm |
Sep 29, 2020 | $0.058 | OrdinaryDividend |
Jun 29, 2020 | $0.062 | OrdinaryDividend |
Mar 30, 2020 | $0.064 | OrdinaryDividend |
Dec 30, 2019 | $0.072 | OrdinaryDividend |
Dec 20, 2019 | $0.296 | CapitalGainShortTerm |
Sep 27, 2019 | $0.070 | OrdinaryDividend |
Jun 27, 2019 | $0.074 | OrdinaryDividend |
Mar 28, 2019 | $0.073 | OrdinaryDividend |
Dec 28, 2018 | $0.048 | OrdinaryDividend |
Sep 27, 2018 | $0.081 | OrdinaryDividend |
Jun 28, 2018 | $0.068 | OrdinaryDividend |
Mar 28, 2018 | $0.067 | OrdinaryDividend |
Dec 28, 2017 | $0.064 | OrdinaryDividend |
Sep 28, 2017 | $0.056 | OrdinaryDividend |
Jun 29, 2017 | $0.075 | OrdinaryDividend |
Mar 30, 2017 | $0.067 | OrdinaryDividend |
Dec 29, 2016 | $0.066 | OrdinaryDividend |
Sep 29, 2016 | $0.064 | OrdinaryDividend |
Jun 29, 2016 | $0.065 | OrdinaryDividend |
Mar 30, 2016 | $0.065 | OrdinaryDividend |
Dec 30, 2015 | $0.064 | OrdinaryDividend |
Sep 29, 2015 | $0.057 | OrdinaryDividend |
Jun 29, 2015 | $0.046 | OrdinaryDividend |
Mar 30, 2015 | $0.032 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Dec 31, 2014
7.42
7.4%
Scott J. Moses, CFA, Portfolio Manager and Head of Emerging Market Debt team for MetLife Investment Management's (MIM) Public Fixed Income business unit. He is a portfolio manager for the Emerging Market Debt strategy. Moses joined MIM in September 2017, in connection with the acquisition of Logan Circle Partners (LCP). He served as a portfolio manager for the Emerging Market Debt and Multi-Sector strategies at LCP. Prior to joining LCP in 2007, he was the head of the emerging markets fixed income team at Delaware Investments, responsible for the implementation of both credit and emerging market strategies in total return portfolios. He began his career at Delaware Investments as a research analyst. Mr. Moses received a Bachelor of Science degree in business administration from Washington and Lee University.
Start Date
Tenure
Tenure Rank
Dec 31, 2014
7.42
7.4%
Andrew Kronschnabel is a portfolio manager and leads investment grade credit for MetLife Investment Management (MIM) Public Fixed Income. Kronschnabel joined MIM in September 2017, in connection with the acquisition of Logan Circle Partners (LCP) by MetLife. He is responsible for high grade credit across all core-based, corporate and long / short credit strategies. Prior to joining LCP in 2007, he was a member of the portfolio management team at Delaware Investments where he was responsible for core-based and high-grade products from 2000 to 2007.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 33.43 | 6.77 | 1.16 |
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