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Salient Tactical Muni & Credit Fund Institutional Class (FLSIX)

7.72
Net Asset Value
0.00%
1 Day
+3.49%
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+1.05% 3 years+4.36%
3 months+2.40% 5 years+1.92%
1 year+1.79% Since inception+5.48%
Data through --

Peer Comparisonvs. Long-short credit

 FLSIXCategory
Performance 5-yr return+1.92%+1.72%
Expense ratio1.46%1.65%
Risk 5 year sharpe ratio0.310.70
Net assets$71.2M$476.8M
Average market cap--$3.9B
Average P/E--24.3
Portfolio turnover276%276%

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Fund Management and Purchase Info

Fund familySalient Funds
Fund manager & tenureDavid Hammer / 1 Years
Minimal initial investment$100,000.00
Minimum IRA investment--

Holdings

Fixed income80.30%
Cash19.70%
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
-- 6.56%
-- 5.95%
-- 5.56%
-- 5.23%
-- 4.62%
-- 4.29%
-- 3.87%
-- 3.80%
-- 3.40%
-- 3.19%