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Trending ETFs

MAI Managed Volatility Fund

mutual fund
MAIPX
Payout Change
Pending
Price as of:
$15.03 +0.02 +0.13%
primary theme
N/A
share class
MAIPX (Mutual Fund)

MAI Managed Volatility Fund

Payout Change
Pending
Price as of:
$15.03 +0.02 +0.13%
primary theme
N/A
share class
MAIPX (Mutual Fund)

MAI Managed Volatility Fund

Payout Change
Pending
Price as of:
$15.03 +0.02 +0.13%
primary theme
N/A
share class

Name

As of 11/01/2024

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

$15.03

$245 M

2.16%

$0.33

1.06%

Vitals

YTD Return

7.0%

1 yr return

10.1%

3 Yr Avg Return

5.1%

5 Yr Avg Return

6.3%

Net Assets

$245 M

Holdings in Top 10

53.7%

52 WEEK LOW AND HIGH

$15.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.06%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 0.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$50,000

IRA

$25,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 11/01/2024

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

$15.03

$245 M

2.16%

$0.33

1.06%

MAIPX - Profile

Distributions

  • YTD Total Return 7.0%
  • 3 Yr Annualized Total Return 5.1%
  • 5 Yr Annualized Total Return 6.3%
  • Capital Gain Distribution Frequency Quarterly
  • Net Income Ratio 0.02%
DIVIDENDS
  • Dividend Yield 2.2%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    MAI Managed Volatility Fund
  • Fund Family Name
    Forum Family
  • Inception Date
    Sep 02, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Richard Buoncore

Fund Description

The Fund will seek to achieve its investment objective principally by (1) investing in a diversified portfolio of equity securities, with a focus on those paying dividends, and (2) selling exchange listed options. The Fund’s equity portfolio is designed to appreciate for long-term capital gains, and the Fund’s option overlay strategy is designed to generate gains, which are largely short-term capital gains. This strategy generally requires the Fund to hold a substantial amount of its assets in cash or cash equivalents, which may include U.S. Treasury securities, shares of money market funds and/or other short-term cash investments, which may pay interest that will contribute to Fund performance. The Fund may invest in fixed-income securities, which primarily will be investment grade, meaning that they are rated by a nationally recognized statistical rating organization (for example, Moody’s Investors Service or S&P Global Ratings) as Baa3 or BBB- (or the equivalent) or better or determined by the Adviser to be of comparable quality. Although the Fund may invest in fixed-income securities of any maturity or duration, the Adviser generally expects that the Fund’s investments in fixed-income securities will carry a maturity and duration of less than two years.

Under normal market conditions, the Fund’s investments in domestic equity securities are primarily in companies with large- and mid-sized market capitalizations or exchange-traded funds (“ETFs”) that invest in such securities. The Adviser defines (1) companies with large market capitalizations as those companies with market capitalizations of $10 billion and over and (2) companies with mid-sized market capitalizations as those companies with market capitalizations of at least $2 billion but not more than $10 billion. Such domestic equity securities include common stock and sponsored and unsponsored American Depositary Receipts (“ADRs”). The Fund may also invest in domestic equity securities of companies with small market capitalizations (defined by the Adviser as those companies with market capitalizations of less than $2 billion).

The Adviser’s focus on large- and mid-cap total return-oriented stocks and a target equity weighting of 45-55% of total assets under normal circumstances may limit the Fund’s ability to fully participate in sharply rising stock markets. However, these investments, as well as the option premium generated by selling options, are intended to provide significant downside protection in falling markets. When price change, dividends and interest income are coupled with the premium generated from the option writing activity, the Adviser believes the Fund can pursue its objective with less downside deviation than traditional equity investment strategies by, in effect, managing volatility. Volatility is a statistical measure of the magnitude of changes in the Fund’s returns without regard to the direction of those changes. Higher volatility is generally associated with higher risk, as often reflected by frequent (and sometimes significant) movements up and down in value.

The Fund may use cash-secured index options to achieve the desired market exposure and address volatility under changing market conditions. The Fund may write put or call options on ETFs that seek to track the performance of an underlying index. In addition, the Fund may buy call options, or sell put options seeking to initiate positions and buy put index options that are designed to create a hedge for the Fund’s portfolio.

The Adviser uses a total return approach to select the Fund’s investments. The Adviser’s investment process consists of conducting proprietary research, analyzing company filings, communicating with company management and industry analysts and reviewing third-party research. Once an investment is made, the holding is continuously monitored to ensure that the initial rationale for investment remains. If it is determined that the initial reason for investment is no longer valid, the security’s price exceeds its target, or if other investments with a better risk-return profile become available, the Adviser may sell the holding.

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MAIPX - Performance

Return Ranking - Trailing

Period MAIPX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.0% -2.8% 240.8% 61.26%
1 Yr 10.1% -4.3% 140.6% 50.87%
3 Yr 5.1%* -8.3% 18.3% 55.13%
5 Yr 6.3%* -5.0% 17.3% 55.08%
10 Yr 5.8%* -4.6% 13.2% 58.82%

* Annualized

Return Ranking - Calendar

Period MAIPX Return Category Return Low Category Return High Rank in Category (%)
2023 5.6% -34.1% 904.0% 55.86%
2022 -5.7% -28.6% 438.4% 28.90%
2021 12.8% -93.5% 8.2% 22.07%
2020 4.0% -38.9% 19.8% 53.49%
2019 14.1% -10.9% 12.8% 31.07%

Total Return Ranking - Trailing

Period MAIPX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.0% -2.7% 244.0% 62.06%
1 Yr 10.1% -4.3% 140.6% 50.43%
3 Yr 5.1%* -8.3% 18.3% 49.36%
5 Yr 6.3%* -5.4% 17.3% 55.08%
10 Yr 5.8%* -4.6% 13.2% 58.82%

* Annualized

Total Return Ranking - Calendar

Period MAIPX Return Category Return Low Category Return High Rank in Category (%)
2023 10.6% -34.1% 904.0% 55.86%
2022 -3.6% -5.9% 438.4% 29.48%
2021 12.8% -81.2% 8.2% 16.55%
2020 4.4% -29.0% 19.8% 48.84%
2019 16.5% -10.9% 12.8% 46.60%

NAV & Total Return History


MAIPX - Holdings

Concentration Analysis

MAIPX Category Low Category High MAIPX % Rank
Net Assets 245 M 25 17.4 B 33.33%
Number of Holdings 116 2 508 26.72%
Net Assets in Top 10 132 M -6.66 M 5.12 B 29.77%
Weighting of Top 10 53.66% 11.3% 100.0% 26.67%

Top 10 Holdings

  1. First American Government Obligations Fund 25.45%
  2. U.S. Treasury Note/Bond 4.13%
  3. U.S. Treasury Note/Bond 4.08%
  4. Apple, Inc. 3.82%
  5. Microsoft Corp. 3.36%
  6. U.S. Treasury Note/Bond 3.06%
  7. U.S. Treasury Note/Bond 3.04%
  8. U.S. Treasury Note/Bond 2.44%
  9. U.S. Treasury Note/Bond 2.24%
  10. U.S. Treasury Note/Bond 2.04%

Asset Allocation

Weighting Return Low Return High MAIPX % Rank
Stocks
47.43% -3.92% 100.76% 82.44%
Cash
27.28% -0.76% 100.29% 9.16%
Bonds
27.10% 0.00% 97.96% 12.60%
Preferred Stocks
0.00% 0.00% 3.08% 20.99%
Convertible Bonds
0.00% 0.00% 20.91% 23.66%
Other
-1.81% 0.00% 45.92% 35.88%

Stock Sector Breakdown

Weighting Return Low Return High MAIPX % Rank
Technology
26.47% 0.00% 44.43% 6.30%
Financial Services
15.25% 0.00% 29.60% 26.89%
Healthcare
14.72% 0.00% 25.91% 15.13%
Communication Services
10.62% 0.00% 21.22% 7.56%
Consumer Cyclical
9.10% 0.00% 19.02% 85.71%
Industrials
7.52% 1.41% 43.91% 84.03%
Consumer Defense
6.99% 0.00% 22.87% 76.47%
Energy
3.65% 0.00% 69.54% 28.99%
Utilities
3.05% 0.00% 13.35% 22.69%
Real Estate
2.07% 0.00% 9.74% 80.67%
Basic Materials
0.57% 0.00% 60.58% 93.70%

Stock Geographic Breakdown

Weighting Return Low Return High MAIPX % Rank
US
47.43% -3.89% 100.00% 73.28%
Non US
0.00% -2.17% 99.33% 35.11%

Bond Sector Breakdown

Weighting Return Low Return High MAIPX % Rank
Government
37.22% 0.00% 99.91% 10.69%
Cash & Equivalents
25.45% 0.09% 100.00% 83.21%
Securitized
0.00% 0.00% 22.63% 20.61%
Corporate
0.00% 0.00% 91.57% 28.63%
Municipal
0.00% 0.00% 97.57% 19.85%
Derivative
-1.81% 0.00% 0.13% 20.61%

Bond Geographic Breakdown

Weighting Return Low Return High MAIPX % Rank
US
27.10% 0.00% 97.96% 12.60%
Non US
0.00% 0.00% 16.94% 20.23%

MAIPX - Expenses

Operational Fees

MAIPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.06% 0.20% 6.78% 48.56%
Management Fee 0.75% 0.20% 1.75% 22.01%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.28% N/A

Sales Fees

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

Trading Fees

MAIPX 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.

MAIPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 456.80% 50.45%

MAIPX - Distributions

Dividend Yield Analysis

MAIPX Category Low Category High MAIPX % Rank
Dividend Yield 2.16% 0.00% 3.76% 24.91%

Dividend Distribution Analysis

MAIPX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Net Income Ratio Analysis

MAIPX Category Low Category High MAIPX % Rank
Net Income Ratio 0.02% -2.54% 14.24% 42.62%

Capital Gain Distribution Analysis

MAIPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Quarterly Annually Annually Annually

Distributions History

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MAIPX - Fund Manager Analysis

Managers

Richard Buoncore


Start Date

Tenure

Tenure Rank

Sep 23, 2010

11.69

11.7%

Richard J. Buoncore is Managing Partner of MAI Capital Management, LLC. Prior to the formation of the firm in 2007, Mr. Buoncore was Managing Partner of BC Investment Partners LLC since 2005. Prior to that, Mr. Buoncore was CEO of Victory Capital Management, a multibillion dollar asset management and mutual fund complex.

Seth Shalov


Start Date

Tenure

Tenure Rank

Sep 23, 2010

11.69

11.7%

Seth E. Shalov is a Managing Director of MAI Capital Management, LLC. Prior to the formation of the firm in 2007, Mr. Shalov was a portfolio manager at BC Investment Partners LLC since 2006 and Director of Proprietary Investments and Trading for a prominent New York family office since 2003. Mr. Shalov managed the Highmark Emerging Growth Fund (U.S. Small-cap) for nine years (1990-1998).

Kurt Nye


Start Date

Tenure

Tenure Rank

Sep 30, 2013

8.67

8.7%

Kurt D. Nye, CFA is a Managing Director of MAI Capital Management, LLC. Prior to joining the firm in 2011, Mr. Nye was an Investment Analyst with the Townsend Group where he provided portfolio modeling, investment due diligence, and analytical support to clients since 2010. Previously, Mr. Nye was a Senior Financial Analyst at Capital One where he focused on forecasting and analysis since 2008.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.77 3.61 5.67