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MassMutual Select T. Rowe Price Real Assets Fund
mutual fund
MMRFX
Payout Change
Pending
Price as of:
$12.27
+0.05
+0.41%
primary theme
Natural Resources Industry Equity
share class
MMRFX (Mutual Fund)
MassMutual Select T. Rowe Price Real Assets Fund
Payout Change
Pending
Price as of:
$12.27
+0.05
+0.41%
primary theme
Natural Resources Industry Equity
share class
MMRFX (Mutual Fund)
MassMutual Select T. Rowe Price Real Assets Fund
Payout Change
Pending
Price as of:
$12.27
+0.05
+0.41%
primary theme
Natural Resources Industry Equity
share class
Name
As of 12/11/2024Price
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
Vitals
YTD Return
7.4%
1 yr return
11.3%
3 Yr Avg Return
2.5%
5 Yr Avg Return
7.5%
Net Assets
$354 M
Holdings in Top 10
21.1%
52 WEEK LOW AND HIGH
$12.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.14%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 57.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
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
MMRFX - Profile
Distributions
- YTD Total Return 7.4%
- 3 Yr Annualized Total Return 2.5%
- 5 Yr Annualized Total Return 7.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.04%
- Dividend Yield 1.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameMassMutual Select T. Rowe Price Real Assets Fund
-
Fund Family NameMASSMUTUAL FUNDS
-
Inception DateFeb 09, 2018
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRichard Coghlan
Fund Description
Principal Investment Strategies
Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in “real assets” and securities of companies that derive at least 50% of their profits or revenues from, or commit at least 50% of assets to, real assets and activities related to real assets. The Fund’s subadviser, T. Rowe Price Associates, Inc. (“T. Rowe Price”), currently defines real assets broadly and considers them to include any assets that have physical properties, such as energy and natural resources, real estate, basic materials, equipment, utilities and infrastructure, and commodities. Real assets may produce cash flows and subsequent valuations that increase when the overall price level in the economy is rising. The Fund may also invest in companies whose revenues and earnings are expected to rise if the prices of certain real assets rise during a period of general inflation.
The Fund typically invests most of its assets in common stocks and seeks to hold a portfolio of securities and other investments that, over time, should provide some protection against the impact of inflation.The Fund may use both growth and value approaches in selecting investments, and may
invest in securities issued by companies of any market capitalization. The Fund is likely to maintain a significant portion of its exposure to the real estate industry through investments in real estate investment trusts (“REITs”), which are pooled investment vehicles that typically invest directly in real estate, in mortgages and loans collateralized by real estate, or in a combination of the two. REITs usually specialize in a particular type of property and may concentrate their investments in particular geographical areas. Investments in REITs may provide the Fund with an efficient means of diversifying among various types of property in different regions. The Fund will normally invest in both U.S. and non-U.S. companies, including companies located in emerging markets, and in securities denominated in both U.S. dollars and foreign currencies. There is no limit on the Fund’s investments in non-U.S. companies. The Fund may (but is not obligated to) use a wide variety of exchange-traded and over-the-counter derivatives, for hedging purposes, to manage inflation risk, to adjust various portfolio characteristics, or as a substitute for direct investments in securities. Such derivatives may include futures contracts, interest rate swaps, total return swaps, and options. The Fund may also, but will not necessarily, engage in foreign currency transactions, including forward contracts, options on currencies, futures contracts, and swap contracts, to seek to hedge or to attempt to protect against adverse changes in currency exchange rates or otherwise to adjust the currency exposures within the Fund’s portfolio. Use of derivatives by the Fund may create investment leverage. The Fund may hold a portion of its assets in cash or cash equivalents.
In selecting securities, T. Rowe Price seeks sectors in equity markets across the globe that are expected to have a low correlation with the overall global equity market in an effort to outperform the market during periods of high or rising inflation. T. Rowe Price invests with an awareness of the global economic backdrop and inflation, as well as its outlook for certain industry sectors and geographic areas. Security selection is based on fundamental, bottom-up analysis that seeks to identify high-quality companies with good appreciation prospects. T. Rowe Price generally favors companies with characteristics such as an attractive industry position, a compelling business model, strong management, and reasonable stock price valuation.
In pursuing the Fund’s investment objective, T. Rowe Price has the discretion to purchase some securities that do not meet its normal investment criteria described above, when it believes there
is an opportunity for substantial appreciation (such as, for example, T. Rowe Price believes a security could increase in value as a result of a change in management, an extraordinary corporate event, a new product introduction or innovation, or a favorable competitive development).
T. Rowe Price may sell assets for a variety of reasons, including in response to a change in the original investment considerations or to limit losses, adjust the characteristics of the overall portfolio, or redeploy assets into different opportunities.
MMRFX - Performance
Return Ranking - Trailing
| Period | MMRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.4% | -12.5% | 21.4% | 28.57% |
| 1 Yr | 11.3% | -4.7% | 26.9% | 33.33% |
| 3 Yr | 2.5%* | -20.5% | 22.7% | 70.59% |
| 5 Yr | 7.5%* | -0.2% | 32.6% | 83.67% |
| 10 Yr | N/A* | -4.9% | 13.8% | N/A |
* Annualized
Return Ranking - Calendar
| Period | MMRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.9% | -13.1% | 52.1% | 37.50% |
| 2022 | -16.3% | -34.9% | 34.0% | 83.33% |
| 2021 | 16.2% | -4.9% | 83.5% | 88.00% |
| 2020 | 3.1% | -23.4% | 126.4% | 72.45% |
| 2019 | 17.0% | -25.1% | 36.9% | 24.74% |
Total Return Ranking - Trailing
| Period | MMRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.4% | -12.5% | 21.4% | 28.57% |
| 1 Yr | 11.3% | -4.7% | 26.9% | 33.33% |
| 3 Yr | 2.5%* | -20.5% | 22.7% | 70.59% |
| 5 Yr | 7.5%* | -0.2% | 32.6% | 83.67% |
| 10 Yr | N/A* | -4.9% | 13.8% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | MMRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.4% | -12.2% | 57.6% | 37.50% |
| 2022 | -9.6% | -32.2% | 35.5% | 68.63% |
| 2021 | 26.7% | -2.5% | 83.6% | 50.00% |
| 2020 | 5.4% | -22.2% | 127.8% | 70.41% |
| 2019 | 20.2% | -25.1% | 37.6% | 28.87% |
NAV & Total Return History
MMRFX - Holdings
Concentration Analysis
| MMRFX | Category Low | Category High | MMRFX % Rank | |
|---|---|---|---|---|
| Net Assets | 354 M | 1.31 M | 6.25 B | 60.00% |
| Number of Holdings | 317 | 26 | 317 | 0.95% |
| Net Assets in Top 10 | 67.5 M | 547 K | 3.4 B | 78.10% |
| Weighting of Top 10 | 21.06% | 16.4% | 75.9% | 97.14% |
Top 10 Holdings
- COMMON STOCK 3.16%
- REIT USD.001 2.82%
- REIT USD.01 2.68%
- REIT USD.1 2.23%
- COMMON STOCK USD.1 1.84%
- COMMON STOCK 1.77%
- REIT USD1.0 1.74%
- Prime Portfolio 1.64%
- REIT USD.01 1.62%
- REIT USD.0001 1.55%
Asset Allocation
| Weighting | Return Low | Return High | MMRFX % Rank | |
|---|---|---|---|---|
| Stocks | 97.57% | 0.00% | 100.20% | 80.95% |
| Cash | 1.64% | 0.00% | 23.75% | 52.38% |
| Preferred Stocks | 0.82% | 0.00% | 6.24% | 8.57% |
| Bonds | 0.76% | 0.00% | 83.60% | 3.81% |
| Other | 0.21% | -0.42% | 23.81% | 10.48% |
| Convertible Bonds | 0.00% | 0.00% | 0.43% | 16.19% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MMRFX % Rank | |
|---|---|---|---|---|
| Real Estate | 36.20% | 0.00% | 36.20% | 0.95% |
| Basic Materials | 32.90% | 2.49% | 100.00% | 61.90% |
| Industrials | 11.92% | 0.00% | 63.67% | 23.81% |
| Energy | 11.49% | 0.00% | 89.67% | 60.00% |
| Consumer Cyclical | 3.61% | 0.00% | 43.37% | 33.33% |
| Utilities | 2.43% | 0.00% | 35.93% | 20.95% |
| Consumer Defense | 0.67% | 0.00% | 33.96% | 53.33% |
| Technology | 0.52% | 0.00% | 17.68% | 38.10% |
| Communication Services | 0.21% | 0.00% | 0.21% | 0.95% |
| Financial Services | 0.06% | 0.00% | 4.52% | 16.19% |
| Healthcare | 0.00% | 0.00% | 22.67% | 40.95% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MMRFX % Rank | |
|---|---|---|---|---|
| US | 64.45% | 0.00% | 100.20% | 60.95% |
| Non US | 33.12% | 0.00% | 89.12% | 39.05% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MMRFX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 1.64% | 0.00% | 100.00% | 49.52% |
| Derivative | 0.21% | -0.42% | 0.80% | 2.86% |
| Securitized | 0.00% | 0.00% | 0.00% | 9.90% |
| Corporate | 0.00% | 0.00% | 96.42% | 29.70% |
| Municipal | 0.00% | 0.00% | 0.00% | 9.90% |
| Government | 0.00% | 0.00% | 91.38% | 12.87% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MMRFX % Rank | |
|---|---|---|---|---|
| US | 0.76% | 0.00% | 83.40% | 3.81% |
| Non US | 0.00% | 0.00% | 2.47% | 12.38% |
MMRFX - Expenses
Operational Fees
| MMRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.14% | 0.08% | 4.45% | 96.19% |
| Management Fee | 0.00% | 0.00% | 1.25% | 0.95% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | 5.45% |
| Administrative Fee | N/A | 0.03% | 0.25% | N/A |
Sales Fees
| MMRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| MMRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 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.
| MMRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 57.00% | 4.00% | 169.00% | 64.37% |
MMRFX - Distributions
Dividend Yield Analysis
| MMRFX | Category Low | Category High | MMRFX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.61% | 0.00% | 12.19% | 64.76% |
Dividend Distribution Analysis
| MMRFX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
| MMRFX | Category Low | Category High | MMRFX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.04% | -35.65% | 6.21% | 11.54% |
Capital Gain Distribution Analysis
| MMRFX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 13, 2023 | $0.198 | OrdinaryDividend |
| Dec 13, 2023 | $0.070 | CapitalGainLongTerm |
| Dec 14, 2022 | $0.890 | OrdinaryDividend |
| Dec 16, 2021 | $0.360 | OrdinaryDividend |
| Dec 16, 2021 | $0.117 | CapitalGainShortTerm |
| Dec 16, 2021 | $0.666 | CapitalGainLongTerm |
| Dec 14, 2020 | $0.245 | OrdinaryDividend |
| Dec 16, 2019 | $0.286 | OrdinaryDividend |
| Dec 17, 2018 | $0.178 | OrdinaryDividend |
| Dec 17, 2018 | $0.003 | CapitalGainShortTerm |
| Dec 17, 2018 | $0.001 | CapitalGainLongTerm |
MMRFX - Fund Manager Analysis
Managers
Richard Coghlan
Start Date
Tenure
Tenure Rank
Aug 31, 2018
3.75
3.8%
Mr. Coghlan joined the Firm in 2017 and his investment experience dates from 1997. Since joining the Firm, he has served as a portfolio manager in the Multi-Asset Division of T. Rowe Price. Prior to joining the Firm, he worked as a fund manager and the head of Multi-Asset Asia for Schroders Investment Management. Richard Coghlan, PhD, joined Schroders in 2000. Based in New York, Richard manages assets on behalf of Schroders’ North American Multi-Asset clients. Richard is a member of the Global Asset Allocation Committee, the Head of the Currency risk premia research team and a member of the Commodities risk premia research team. From 2004-2015, Richard held a multitude of senior management roles in Schroders’ Asian offices including most recently the Head of Multi-Asset, Asia. For three years prior, he served as the Head of Investments, Korea and as a Korean Investment Specialist supervising both the investment trust and the corporate restructuring businesses. In 2003, Richard managed Multi-Asset portfolios in Schroders Korea. Richard first joined Schroders in 2000 in Korea. His investment career commenced in 1997 as a Director with the Asian Finance and Investment Corporation, an affiliate of the Asian Development Bank. Richard holds an MBA in Finance and Accounting, University of Chicago, MSc and PhD in Geochemistry, Brown University and BSc in Geology, Duke University.
Christopher Faulkner-MacDonagh
Start Date
Tenure
Tenure Rank
Aug 31, 2018
3.75
3.8%
Mr. Faulkner-MacDonagh is a Vice President and Portfolio Manager for T. Rowe Price. He joined T. Rowe Price in 2016 and his investment experience dates from 1998. Since joining T. Rowe Price, he has served as a portfolio strategist. Prior to joining T. Rowe Price, he worked as a market strategist at Standard Life Investments and as a senior economist at Ziff Brothers Investments.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.16 | 24.18 | 7.58 | 0.16 |
