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Salient Tactical Muni & Credit Fund Institutional Class (FLSIX)

7.83
Net Asset Value
0.00%
1 Day
+4.96%
Year-to-Date
Overall Morningstar Rating
Long-short credit
Style or Category
No Load
Sales Expenses
1.46%
Expense Ratio
High
Morningstar Risk Rating™
Investment Objective The investment seeks to maximize total return (capital appreciation and income). The fund seeks to take advantage of relative value- cross-over trading opportunities and market anomalies and inefficiencies across a wide array of the credit markets. Pacific Investment Management Company LLC ("PIMCO" or the "Sub-Advisor") uses an absolute return-oriented and tax-efficient investment strategy that seeks to identify attractive long and short investment opportunities in the municipal and other credit markets. The fund is non-diversified.

Performance

1 month+0.38% 3 years+4.96%
3 months+1.43% 5 years+1.35%
1 year+6.91% Since inception+5.57%
Data through --

Peer Comparisonvs. Long-short credit

 FLSIXCategory
Performance 5-yr return+1.35%+1.74%
Expense ratio1.46%1.58%
Risk 5 year sharpe ratio0.250.56
Net assets$79.0M$454.4M
Average market cap--$14.6B
Average P/E--17.6
Portfolio turnover276%276%

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Fund Management and Purchase Info

Fund familySalient Funds
Fund manager & tenureDavid Hammer / 2 Years
Minimal initial investment$100,000.00
Minimum IRA investment--

Holdings

Fixed income90.81%
Cash9.19%
U.S. stock0.00%
International stock0.00%
Other0.00%
Top 5 Sectors
Portfolio weighting
Business service --
Consumer goods --
Consumer service --
Energy --
Financial service --
Top 10 Holdings
Portfolio weighting
-- 6.42%
-- 5.43%
-- 5.02%
-- 4.18%
-- 3.78%
-- 3.73%
-- 3.72%
-- 3.36%
-- 2.73%
-- 2.34%