WCM Alternatives: Credit Event Fund
Investment returns are driven primarily by the outcome of a portfolio of securities related to a specific, catalyst-focused corporate event rather than the direction of the broad fixed income market.
Daily NAV as of 1/15/2021
Inception Date | Ticker | CUSIP | NAV | Change ($) | YTD Return (%) |
---|---|---|---|---|---|
12/29/2017 | WCFRX | 95737C301 | $12.54 | $-0.04 | 4.33% |
12/29/2017 | WCFIX | 95737C400 | $12.45 | $-0.04 | 4.36% |
Investment Objective
The Fund seeks to provide attractive risk-adjusted returns independent of market cycles. The intent is to provide such returns through both current income and capital appreciation. Risk-adjusted return is a concept that considers not only an investment’s return, but also the amount of potential risk involved in producing that return.Investment Strategy
The Fund is an opportunistic fixed income fund diversified across several catalyst-driven, absolute return credit strategies.Portfolio Positioning for the WCM Alternatives: Credit Event Fund®
- The fund can function as an alternative strategy for investors seeking portfolio diversification with less reliance on fixed income market performance.
- The fund can be positioned as a substitute for a portion of the fixed income investments in a bond portfolio to address principal risk due to rising interest rates.
- Using this Fund may allow advisors and investors to potentially minimize directional exposure to a variety of financial markets, with a flexible profile that responds to changing market landscapes.
At a Glance | ||
---|---|---|
WCFRX | WCFIX | |
Inception Date: | December 29, 2017 | December 29, 2017 |
Investment Minimum: | $2,000 | $1,000,000 |
Ticker: | WCFRX | WCFIX |
CUSIP: | 95737C301 | 95737C400 |
Management Fee:(1) | 1.00% | 1.00% |
Net Expenses(1), (2) | 2.15% | 1.90% |
Total Operating Expense:(2) | 5.65% | 5.40% |
Total Fund Assets as of 11/30/2020: | $9.1 M | $9.1 M |
Total Strategy Assets as of 11/30/2020: | $9.1 M | $9.1 M |
(1)As of prospectus dated April 29, 2020.
(2)Gross Expense ratios for WCM Alternatives: Credit Event Fund Investor Class and Institutional Class as of the April 29, 2020 Prospectus are 5.65% and 5.40%, respectively. Total Net Annual Operating Expenses of the Fund’s Investor Class and Institutional Class shares are 2.15% and 1.90% respectively and were applicable to investors. The Adviser has contractually agreed to waive its investment advisory fee and to reimburse the Fund for other ordinary operating expenses to the extent necessary to limit ordinary operating expenses (not including brokerage commissions, short dividends, interest expense, taxes, acquired fund fees and expenses or extraordinary expenses) to an amount not to exceed 1.89% and 1.64% and for Investor Class shares and Institutional Class shares respectively. The expense limitation will apply until April 30, 2021, unless it is terminated by the Board of Trustees at an earlier time. Acquired Fund Fees and Expenses and Interest and Expense on Short Positions and on Interest on Reverse Repurchase Agreements are 0.02% and 0.24% respectively.
Portfolio Composition as of 9/30/2020
Position Summary
Number of holdings: | 91 |
Average position size: | 1.75% |
Effective Duration: | 1.66 |
Maturity: | 3.51 |
Exposure
Long: | 158.97% |
Short: | 0.91% |
Net: | 158.06% |
Strategy Allocation
Sub-Strategy | Allocations |
---|---|
Merger-Related Credit: | 33% |
Catalyst Driven Credit: | 44% |
Relative Value Credit: | 14% |
Restructuring/Reorg Credit: | 8% |
Regional Allocations (Gross exposure)
Sector Allocations (Gross exposure)
As of Month-End: 12/31/2020
YTD | 3-month | 1-year | 3-year | 5-year | 10-year | Since Inception | |
---|---|---|---|---|---|---|---|
WCM Alternatives - Credit Event Fund Inv. Class | 16.28% | 13.77% | 16.28% | 8.21% | % | % | 8.19% |
WCM Alternatives - Credit Event Fund Inst. Class | 16.08% | 13.80% | 16.08% | 8.34% | % | % | 8.33% |
The ICE BofAML US 3-Month Treasury Bill Index | 0.67% | 0.03% | 0.67% | 1.61% | % | % | 1.60% |
As of Quarter-End: 12/31/2020
YTD | 3-month | 1-year | 3-year | 5-year | 10-year | Since Inception | |
---|---|---|---|---|---|---|---|
WCM Alternatives - Credit Event Fund Inv. Class | 16.28% | 13.77% | 16.28% | 8.21% | % | % | 8.19% |
WCM Alternatives - Credit Event Fund Inst. Class | 16.08% | 13.80% | 16.08% | 8.34% | % | % | 8.33% |
The ICE BofAML US 3-Month Treasury Bill Index | 0.67% | 0.03% | 0.67% | 1.61% | % | % | 1.60% |
Gross Expense ratios for WCM Alternatives: Credit Event Fund Investor Class and Institutional Class as of the April 29, 2020 Prospectus are 5.65% and 5.40%, respectively. Total Net Annual Operating Expenses of the Fund’s Investor Class and Institutional Class shares are 2.15% and 1.90% respectively and were applicable to investors. The Adviser has contractually agreed to waive its investment advisory fee and to reimburse the Fund for other ordinary operating expenses to the extent necessary to limit ordinary operating expenses (not including brokerage commissions, short dividends, interest expense, taxes, acquired fund fees and expenses or extraordinary expenses) to an amount not to exceed 1.89% and 1.64% and for Investor Class shares and Institutional Class shares respectively. The expense limitation will apply until April 30, 2021, unless it is terminated by the Board of Trustees at an earlier time. Acquired Fund Fees and Expenses and Interest and Expense on Short Positions and on Interest on Reverse Repurchase Agreements are 0.02% and 0.24% respectively.
The ICE BofA Merrill Lynch US 3-Month Treasury Bill Index is comprised of a single issue purchased at the beginning of the month and held for a full month. Indices are unavailable for direct investment.
The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original costs. Current performance may be lower or higher than the performance quoted. Returns shown above are average annually for periods over one year. Short term performance, in particular, is not a good indication of WCM Alternatives: Credit Event Fund future performance and an investment should not be made based solely on returns.