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Salient Tactical Muni & Credit Fund Institutional Class (FLSIX)

7.55
Net Asset Value
-0.40%
1 Day
+1.21%
Year-to-Date
Overall Morningstar Rating
Long-short credit
Style or Category
No Load
Sales Expenses
1.42%
Expense Ratio
Above Average
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+1.93% 3 years+4.97%
3 months-2.27% 5 years+2.15%
1 year+1.87% Since inception+5.27%
Data through --

Peer Comparisonvs. Long-short credit

 FLSIXCategory
Performance 5-yr return+2.15%+2.19%
Expense ratio1.42%1.72%
Risk 5 year sharpe ratio0.450.64
Net assets$97.4M$438.8M
Average market cap--$3.4B
Average P/E--21.2
Portfolio turnover160%160%

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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 income76.43%
Cash23.57%
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
-- 15.05%
-- 4.72%
-- 4.65%
-- 4.53%
-- 4.34%
-- 4.24%
-- 4.07%
-- 3.56%
-- 3.34%
-- 3.29%

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