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TSW High Yield Bond Fund
mutual fund
TSWHX
Payout Change
Pending
Price as of:
$9.38
+0.01
+0.11%
primary theme
High Yield Bond
share class
TSWHX (Mutual Fund)
TSW High Yield Bond Fund
Payout Change
Pending
Price as of:
$9.38
+0.01
+0.11%
primary theme
High Yield Bond
share class
TSWHX (Mutual Fund)
TSW High Yield Bond Fund
Payout Change
Pending
Price as of:
$9.38
+0.01
+0.11%
primary theme
High Yield Bond
share class
Name
As of 12/06/2024Price
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
9.8%
1 yr return
11.9%
3 Yr Avg Return
3.7%
5 Yr Avg Return
N/A
Net Assets
$9.64 M
Holdings in Top 10
26.8%
52 WEEK LOW AND HIGH
$9.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.32%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/06/2024Price
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
TSWHX - Profile
Distributions
- YTD Total Return 9.8%
- 3 Yr Annualized Total Return 3.7%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio N/A
- Dividend Yield 5.8%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameTSW High Yield Bond Fund
-
Fund Family NamePerpetual Americas Funds Trust
-
Inception DateOct 26, 2021
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerWilliam Bellamy
Fund Description
The Fund invests, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in high yield fixed income securities, also known as “junk bonds” (higher risk, lower rated fixed income securities rated BB or below by at least one nationally recognized statistical rating organization (“NRSRO”) or determined to be of a similar quality by TSW). Under normal circumstances, the Fund will not invest more than 20% of its net assets in debt instruments that, at the time of purchase, are rated CCC or below by at least one NRSRO or determined to be of a similar quality by TSW.
The Fund’s fixed income securities include primarily corporate debt. The Fund, from time to time, will make opportunistic investments in other fixed income securities such as convertible bonds, preferred securities, loans (senior floating rate loans as well as other secured and unsecured loans) and loan participations. The Fund retains flexibility to seek temporary, indirect exposure (e.g., through pooled investment vehicles) to fixed income securities, such as when managing inflows into the Fund. The Fund expects to invest primarily in securities denominated in U.S. dollars and may invest in companies of any size, including small-and mid-capitalization companies. The Fund’s portfolio is expected to have a weighted average duration of between three and seven years under normal conditions.
The portfolio manager follows a disciplined, bottom-up research process that focuses on analyzing individual issuers. This process aims to identify securities showing stable or improving credit metrics that offer strong relative value in the context of the high yield market. The portfolio manager evaluates quantitative as well as qualitative factors in his fundamental analysis. While the investment process does not impose a top-down allocation to countries or sectors, the portfolio manager attempts to reduce risk through diversification and credit analysis as well as by considering the sector allocations of the Fund’s benchmark.
The Fund may invest in securities that are issued through private offerings without registration with the Securities and Exchange Commission under the Securities Act. Accordingly, the Fund expects to invest a significant portion of its assets in securities that are only offered and sold to “qualified institutional buyers”, pursuant to Rule 144A under the Securities Act, as such securities are prevalent in the high yield bond market.
TSWHX - Performance
Return Ranking - Trailing
| Period | TSWHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.8% | -7.7% | 18.3% | 24.63% |
| 1 Yr | 11.9% | -4.8% | 18.6% | 48.60% |
| 3 Yr | 3.7%* | -14.1% | 21.6% | 27.35% |
| 5 Yr | N/A* | -11.4% | 37.3% | N/A |
| 10 Yr | N/A* | -4.9% | 20.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | TSWHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.2% | -4.7% | 14.3% | 19.34% |
| 2022 | -14.8% | -33.4% | 3.6% | 35.76% |
| 2021 | N/A | -8.4% | 8.2% | N/A |
| 2020 | N/A | -13.2% | 302.7% | N/A |
| 2019 | N/A | -4.4% | 13.3% | N/A |
Total Return Ranking - Trailing
| Period | TSWHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.8% | -7.7% | 18.3% | 24.63% |
| 1 Yr | 11.9% | -4.8% | 18.6% | 48.60% |
| 3 Yr | 3.7%* | -14.1% | 21.6% | 27.35% |
| 5 Yr | N/A* | -11.4% | 37.3% | N/A |
| 10 Yr | N/A* | -4.9% | 20.3% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | TSWHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.3% | -4.7% | 18.7% | 20.16% |
| 2022 | -9.7% | -33.4% | 47.8% | 33.77% |
| 2021 | N/A | -8.4% | 12.4% | N/A |
| 2020 | N/A | -9.6% | 325.6% | N/A |
| 2019 | N/A | -3.8% | 19.4% | N/A |
NAV & Total Return History
TSWHX - Holdings
Concentration Analysis
| TSWHX | Category Low | Category High | TSWHX % Rank | |
|---|---|---|---|---|
| Net Assets | 9.64 M | 3.13 M | 25.3 B | 99.35% |
| Number of Holdings | 61 | 2 | 4432 | 96.72% |
| Net Assets in Top 10 | 2.6 M | -492 M | 6.67 B | 98.85% |
| Weighting of Top 10 | 26.76% | 4.2% | 146.0% | 10.34% |
Top 10 Holdings
- Northern Institutional Funds TREAS PRT PRMR 4.35%
- VSTO 4.5 03/15/29 144A 3.19%
- PR 9.875 07/15/31 144A 2.87%
- MKL V6 PERP 2.57%
- ACI 4.625 01/15/27 144A 2.50%
- SNEX 7.875 03/01/31 144A 2.47%
- POWSOL 6.25 05/15/26 144A 2.30%
- JBPOIN 8.75 12/15/31 144A 2.18%
- FWRD 9.5 10/15/31 144A 2.17%
- FTAI 7 06/15/32 144A 2.16%
Asset Allocation
| Weighting | Return Low | Return High | TSWHX % Rank | |
|---|---|---|---|---|
| Bonds | 94.65% | 0.00% | 145.36% | 53.76% |
| Cash | 5.35% | -52.00% | 48.02% | 29.39% |
| Stocks | 0.00% | 0.00% | 97.54% | 94.12% |
| Preferred Stocks | 0.00% | 0.00% | 4.97% | 86.86% |
| Other | 0.00% | -39.08% | 99.23% | 79.47% |
| Convertible Bonds | 0.00% | 0.00% | 17.89% | 98.85% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | TSWHX % Rank | |
|---|---|---|---|---|
| Corporate | 96.37% | 0.00% | 100.00% | 36.35% |
| Cash & Equivalents | 4.35% | 0.00% | 48.02% | 32.68% |
| Derivative | 0.00% | -14.58% | 42.26% | 73.40% |
| Securitized | 0.00% | 0.00% | 97.24% | 90.30% |
| Municipal | 0.00% | 0.00% | 1.17% | 80.43% |
| Government | 0.00% | 0.00% | 99.07% | 85.86% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | TSWHX % Rank | |
|---|---|---|---|---|
| US | 94.65% | 0.00% | 126.57% | 40.72% |
| Non US | 0.00% | 0.00% | 96.91% | 86.54% |
TSWHX - Expenses
Operational Fees
| TSWHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.32% | 0.02% | 38.33% | 28.36% |
| Management Fee | 0.50% | 0.00% | 1.75% | 36.01% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| TSWHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| TSWHX 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.
| TSWHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 1.00% | 255.00% | N/A |
TSWHX - Distributions
Dividend Yield Analysis
| TSWHX | Category Low | Category High | TSWHX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.75% | 0.00% | 11.76% | 57.75% |
Dividend Distribution Analysis
| TSWHX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
| TSWHX | Category Low | Category High | TSWHX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | -2.39% | 9.30% | N/A |
Capital Gain Distribution Analysis
| TSWHX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.045 | OrdinaryDividend |
| Oct 31, 2024 | $0.046 | OrdinaryDividend |
| Sep 30, 2024 | $0.045 | OrdinaryDividend |
| Aug 30, 2024 | $0.047 | OrdinaryDividend |
| Jul 31, 2024 | $0.047 | OrdinaryDividend |
| Apr 30, 2024 | $0.045 | OrdinaryDividend |
| Mar 28, 2024 | $0.046 | OrdinaryDividend |
| Feb 29, 2024 | $0.043 | OrdinaryDividend |
| Jan 31, 2024 | $0.046 | OrdinaryDividend |
| Dec 29, 2023 | $0.046 | OrdinaryDividend |
| Nov 30, 2023 | $0.044 | OrdinaryDividend |
| Oct 31, 2023 | $0.047 | OrdinaryDividend |
| Sep 29, 2023 | $0.044 | OrdinaryDividend |
| Aug 31, 2023 | $0.045 | OrdinaryDividend |
| Jul 31, 2023 | $0.045 | OrdinaryDividend |
| Jun 30, 2023 | $0.043 | OrdinaryDividend |
| May 31, 2023 | $0.044 | OrdinaryDividend |
| Apr 28, 2023 | $0.043 | OrdinaryDividend |
| Mar 31, 2023 | $0.043 | OrdinaryDividend |
| Feb 28, 2023 | $0.042 | OrdinaryDividend |
| Jan 31, 2023 | $0.041 | OrdinaryDividend |
| Dec 30, 2022 | $0.041 | OrdinaryDividend |
| Nov 30, 2022 | $0.041 | OrdinaryDividend |
| Oct 31, 2022 | $0.039 | OrdinaryDividend |
| Sep 30, 2022 | $0.039 | OrdinaryDividend |
| Aug 31, 2022 | $0.041 | OrdinaryDividend |
| Jul 29, 2022 | $0.040 | OrdinaryDividend |
| Jun 30, 2022 | $0.039 | OrdinaryDividend |
| May 31, 2022 | $0.039 | OrdinaryDividend |
| Apr 29, 2022 | $0.038 | OrdinaryDividend |
| Mar 31, 2022 | $0.039 | OrdinaryDividend |
| Feb 28, 2022 | $0.036 | OrdinaryDividend |
| Jan 31, 2022 | $0.040 | OrdinaryDividend |
| Dec 31, 2021 | $0.044 | OrdinaryDividend |
| Nov 30, 2021 | $0.038 | OrdinaryDividend |
| Oct 29, 2021 | $0.006 | OrdinaryDividend |
TSWHX - Fund Manager Analysis
Managers
William Bellamy
Start Date
Tenure
Tenure Rank
Oct 24, 2021
0.6
0.6%
Bill Bellamy is the Director of Income Strategies and is responsible for overseeing all fixed income management including investment grade, high yield, core plus, and municipal bonds. He is the Portfolio Manager for the TS&W Core Plus Fixed Income strategy. Bill began his career in the investment industry in 1987. Prior to joining TS&W in 2002, he was a Fixed Income Portfolio Manager at Trusco Capital Management managing total return oriented institutional accounts. Previously Bill was a Vice President of Institutional Fixed Income for First Union Capital Markets and Clayton Brown & Associates, after beginning his career in Institutional Sales and Trading at Merrill Lynch. He earned his undergraduate degree from Cornell University and his MBA from The Fuqua School of Business at Duke University. He holds the Chartered Financial Analyst® designation and is a member of the Association for Investment Management and Research as well as the Richmond Society of Financial Analysts.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.31 | 8.17 |
