BICRX — Sterling Capital Total Return Bond Fund
Data updated: 2026-08-31
BICRX — Sterling Capital Total Return Bond Fund. Long Securitized (MBS/ABS/CMBS) Bond · $1.48B AUM. Holdings, fees, performance and SEC filings.
BICRX Fund Overview
BICRX — Sterling Capital Total Return Bond Fund is a US mutual fund managed by Sterling Capital Funds, categorised as Long Securitized (MBS/ABS/CMBS) Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Sterling Capital Funds
- Category: Long Securitized (MBS/ABS/CMBS) Bond
- Assets under management: $1.48B
- 1-year return: 0.5%
- Ticker: BICRX
- SEC CIK: 0000889284
- SEC series ID: S000003549
- Share class ID: C000084351
BICRX Investment Objective and Strategy
Sterling Capital Total Return Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Sterling Capital Funds.
Investment objective
The Fund seeks a high level of current income and a competitive total return.
Principal investment strategy
The Fund seeks above-average total return through any combination of current income and capital appreciation. To pursue its investment objective, the Fund will invest, under normal circumstances, at least 80% of its net assets plus borrowings for investment purposes in a diversified portfolio of bonds, including: securities issued or guaranteed by the U.S. government, its agencies or instrumentalities, corporate bonds, asset-backed securities, mortgage-backed securities, including commercial mortgage-backed securities and collateralized mortgage obligations, municipal securities, and convertible securities. The Fund also may invest in U.S. dollar-denominated foreign and emerging market securities. The Fund will invest the portion of its assets invested in corporate bonds primarily in investment grade (rated at the time of purchase in one of the four highest rating categories by a nationally recognized statistical rating organization (NRSRO), or are determined by the portfolio manager to be of comparable quality) corporate bonds.
Up to 25% of the Funds total assets may be invested in either, or a combination of, (i) bonds that are below investment grade, which are commonly referred to as high yield or junk bonds and/or (ii) non-dollar denominated foreign and emerging market bonds. In managing the portfolio, the portfolio manager uses a top down investment management approach focusing on interest rate risk, allocation among sectors, credit risk, and individual securities selection. The portfolio manager focuses on macro trends in the economy to establish a duration target that reflects the outlook for the future direction of interest rates. For yield curve management, in addition to the trend in interest rates, other factors such as future inflation expectations, supply factors, and future interest rate expectations are considered.
Sector weightings are driven by a combination of the portfolio managers macro view on interest rates and volatility as well as relative spread analysis. Utilizing fundamental analysis the portfolio manager then selects individual securities consistent with the target by looking for the best relative values within particular sectors. The analysis includes an attempt to understand the structure and embedded features of potential securities. Features that are analyzed include puts, calls, sinking fund requirements, prepayment and extension risk, and individual company financial data for potential corporate holdings. Scenario analysis is the primary tool employed for these assessments. The portfolio manager may consider selling a security owned by the Fund to reduce exposure to a particular sector, if the portfolio manager sees a deterioration in the underlying fundamentals of an issuer or if the actions of the issuer violate the investment thesis of owning the security, when the portfolio manager finds other attractive securities that the portfolio manager believes are less expensive and offer relatively greater income or growth potential, and in response to macro level adjustments to duration and yield curve contributions.
The Fund may invest in certain types of derivative instruments for hedging and investment purposes. Although the Fund may invest in derivatives of any kind, the Fund currently expects to invest in futures contracts and forward foreign currency contracts to gain efficient investment exposures as an alternative to cash investments or to hedge against portfolio exposures, and credit default swaps, and interest rate swaps to gain indirect exposure to interest rates, issuers, or currencies, or to hedge against portfolio exposures.
BICRX Holdings
Top 10 holdings of Sterling Capital Total Return Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| United States Of America - Bureau Of The Public Debt | 3.81% |
| United States Of America - Bureau Of The Public Debt | 2.28% |
| United States Of America - Bureau Of The Public Debt | 2.04% |
| United States Of America - Bureau Of The Public Debt | 2.00% |
| Federated Hermes Money Market Obligations Trust | 1.56% |
| Federal National Mortgage Association | 1.31% |
| Hertz Vehicle Financing LLC | 1.20% |
| Lcm 33 Ltd. | 1.01% |
| Toyota Auto Loan Extended Note Trust 2025-1 | 0.90% |
| Fortress Credit Bsl Xxi Ltd. | 0.90% |
BICRX Portfolio Allocation
Asset-class allocation of Sterling Capital Total Return Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Securitized | 59.6% |
| Fixed Income | 39.1% |
| Cash & Equivalents | 1.6% |
| Equity | 0.2% |
BICRX Performance
Total returns for BICRX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 0.5% |
| 3 years (annualised) | 3.9% |
BICRX Risk Information
Risk metrics for BICRX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.1%
BICRX Costs and Fees
BICRX costs about $95 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.95%
- Gross expense ratio: 0.95%
- Portfolio turnover: 79%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
BICRX Cashflows
Over the 12 months to 2026-06, Sterling Capital Total Return Bond Fund had net inflows of $7.55M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $6.33M |
| 2026-05 | −$2.42M |
| 2026-04 | −$24.87M |
| 2026-03 | $3.61M |
| 2026-02 | −$8.21M |
| 2026-01 | $8.41M |
BICRX Debt Constituents
Largest debt holdings of Sterling Capital Total Return Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States Of America - Bureau Of The Public Debt | 3.81% |
| United States Of America - Bureau Of The Public Debt | 2.28% |
| United States Of America - Bureau Of The Public Debt | 2.04% |
| United States Of America - Bureau Of The Public Debt | 2.00% |
| New York N Y City Transitional Fin Auth | 0.80% |
| Appalachian Power Recovery Funding LLC | 0.75% |
| Hut 8 Dc LLC | 0.50% |
| Qts Fayetteville I Dc1-2 LLC / Qts Trs Fayetteville I Dci-2 LLC | 0.49% |
| Beignet Investor LLC | 0.48% |
| Rd Michigan Property Owner I LLC | 0.46% |
BICRX Prospectus and SEC Filings
Official Sterling Capital Total Return Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-01-28
- Prospectus (485BPOS) — filed 2024-01-31
- Prospectus supplement (497) — filed 2026-02-02
- Portfolio holdings (N-PORT) — filed 2026-08-31
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2025-12-11
- Annual census (N-CEN) — filed 2024-12-13
Related Funds
Other Long Securitized (MBS/ABS/CMBS) Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.