NOTICE: 2020 Capital Gains Available. View PDF here.

Fund Goal

Our Strategic Enhanced Yield Fund is designed to be an opportunistic, multi-sector fixed income investment. The investment team attempts to shift allocations into areas that we believe provide the best risk/reward profiles. The Fund typically has a substantial allocation to mortgage-backed securities and other securitized products. The Fund has the freedom to invest in a broad range of credit ratings and durations.


Our Fixed Income management process is fundamentally driven, disciplined and value oriented. We construct portfolios using duration management, yield curve positioning, sector allocation, and security selection, and use these strategies as a blueprint to strive to earn results for you.

How We Strive To Make Fixed Income Funds Work For You:


We seek opportunities to generate returns for our investors.


We test our discoveries for relative value and associated risk. If it’s not worth it, we go back to the drawing board.


We invest in assets that have value within the current market and buy when we believe the price is right.


We monitor our investments closely. We ensure our reasoning remains valid and, if it isn’t, we return to the discovery phase.

Market Concerns

Fixed income securities are subject to interest rate risks. The principal value of a bond falls when interest rates rise and rise when interest rates fall. During periods of rising interest rates, the value of a bond investment is at greater risk than during periods of stable or falling rates. Short-term investment-grade bonds offer less risk and generally a lower rate of return than longer-term higher yielding bonds. Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of changing interest rates. High-yield bonds have a higher risk of default or other adverse credit events, but have the potential to pay higher earnings over investment-grade bonds. The higher risk of default, or the inability of the creditor to repay its debt, is the primary reason for the higher interest rates on high-yield bonds.

Morningstar Rankings

Category: US OE Fund Multisector Bond (as of 9/30/2020)

1 Year47/33117

Rankings are for Institutional Class and are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. For periods not shown, Morningstar does not provide rankings based on synthetic performance.

Morningstar rankings are based on a fund's average annual total return relative to all funds in the same Morningstar category. Fund performance used within the rankings, reflects certain fee waivers, without which, returns and Morningstar rankings would have been lower. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100.

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Lipper Rankings

Category: Lipper Multi-Sector Income Funds (as of 9/30/2020)

1 Year64/33420

Rankings are for Institutional Class and are based on average annual total returns, but do not consider sales charges.

The Lipper Mutual Funds Average is an equally weighted average of the mutual funds within their respective Lipper classification, adjusted for reinvestment of capital gains distributions and income dividends. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at Thomson Reuters Copyright 2020, All Rights Reserved.

Past performance is no guarantee of future results

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Fund Information as of 12/31/20

InstitutionalInvestorClass A
Net Asset Value$10.45$10.59$10.44
Gross Expense Ratio1.79%2.07%1.99%
Net Expense Ratio0.78%1.03%1.03%

Fund Statistics as of 12/31/20

Total Net Assets$22,082,542
Number of Holdings91
Turnover Ratio98.44%
Weighted Average Maturity (bonds)9.35 yrs.
Effective Duration (bonds)7.32 yrs.

Currently, contractual fee waivers are in effect from December 26, 2019 through December 31, 2020.

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