BKTAX — Sterling Capital Kentucky Intermediate Tax-Free Fund
Data updated: 2021-02-23
BKTAX — Sterling Capital Kentucky Intermediate Tax-Free Fund. Intermediate Municipal - National Bond. Holdings, fees, performance and SEC filings.
BKTAX Fund Overview
BKTAX — Sterling Capital Kentucky Intermediate Tax-Free Fund is a US mutual fund managed by Sterling Capital Funds, categorised as Intermediate Municipal - National 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: Intermediate Municipal - National Bond
- Assets under management: $9.64M
- 1-year return: 4.2%
- Ticker: BKTAX
- SEC CIK: 0000889284
- SEC series ID: S000003559
- Share class ID: C000009899
BKTAX Investment Objective and Strategy
Sterling Capital Kentucky Intermediate Tax-Free 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 current income exempt from federal and Kentucky income taxes consistent with preservation of capital.
Principal investment strategy
As a matter of fundamental policy, the Fund will invest, under normal market conditions, at least 80% of its net assets plus borrowings for investment purposes in investments the income from which is exempt from federal income tax, alternative minimum tax, and Kentucky personal income tax (Kentucky Tax-Exempt Obligations). The Fund invests, under normal market conditions, primarily in municipal securities of the Commonwealth of Kentucky and its political subdivisions, that provide income exempt from both federal income tax and Kentucky income tax. Municipal securities in which the Fund will invest include municipal notes and bonds, general obligation bonds, special revenue bonds, private activity bonds, lease obligations, certificates of participation, variable rate demand notes, and tax-exempt commercial paper.
The Fund invests in Kentucky municipal securities only if they are investment grade (rated at the time of purchase in one of the four highest rating categories by a nationally recognized statistical rating organization, or are determined by the portfolio manager to be of comparable quality). The Fund will maintain an average duration of 3.5 to 8 years. The Funds dollar-weighted average maturity is expected to be more than 3 years but less than 10 years. Duration is the expected life of a fixed income security and is used to determine the sensitivity of the securitys price to changes in interest rates. Maturity merely measures the time until final payment is due. Unlike maturity, duration accounts for the time until all payments of interest and principal on a security are expected to be made, including how these payments are affected by prepayments and by changes in interest rates.
In managing the Funds portfolio, the portfolio manager uses a top down investment management approach focusing on interest rates and credit quality. The portfolio manager sets, and continually adjusts, a target for the interest rate sensitivity of the Funds portfolio based on expectations about interest rate movements. The portfolio manager then selects securities consistent with this target based on their individual characteristics. The portfolio manager may consider selling a security owned by the Fund to reposition the Fund along the yield curve, to adjust the Funds average maturity or duration, to replace a security with one that the portfolio manager believes offers greater total return potential, or to exit a security whose credit fundamentals are deteriorating. The Fund is non-diversified and, therefore, may invest in a limited number of issuers.
BKTAX Performance
Total returns for BKTAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 4.2% |
BKTAX Risk Information
Risk metrics for BKTAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.2%
BKTAX Costs and Fees
BKTAX costs about $96 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.96%
- Gross expense ratio: 0.96%
- Portfolio turnover: 33%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
BKTAX Cashflows
Over the 12 months to 2020-12, Sterling Capital Kentucky Intermediate Tax-Free Fund had net inflows of $5.92M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-12 | $2.03M |
| 2020-11 | $840.06K |
| 2020-10 | $65.95K |
| 2020-09 | $937.90K |
| 2020-08 | $648.26K |
| 2020-07 | $158.03K |
BKTAX Debt Constituents
No individual debt constituents are reported in Sterling Capital Kentucky Intermediate Tax-Free Fund's latest SEC N-PORT filing.
BKTAX Prospectus and SEC Filings
Official Sterling Capital Kentucky Intermediate Tax-Free Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-02-20
- Prospectus (485BPOS) — filed 2019-02-19
- Prospectus (485BPOS) — filed 2018-02-21
- Portfolio holdings (N-PORT) — filed 2021-02-23
- Portfolio holdings (N-PORT) — filed 2020-11-23
- Portfolio holdings (N-PORT) — filed 2020-08-24
- Annual census (N-CEN) — filed 2020-12-03
- Annual census (N-CEN) — filed 2019-12-10
Related Funds
Other Intermediate Municipal - National 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.