Advisory Research Strategic Income Fund

C000121689 Fund Overview

Advisory Research Strategic Income Fund is a US mutual fund managed by Investment Managers Series Trust, categorised as Developed ex-US Multi-Cap / All-Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Investment Managers Series Trust
• Category: Developed ex-US Multi-Cap / All-Cap Blend / Core Equity
• Assets under management: $10.67M
• SEC CIK: 0001318342
• SEC series ID: S000039509
• Share class ID: C000121689

C000121689 Investment Objective and Strategy

Advisory Research Strategic Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Investment Managers Series Trust.

Investment objective

"The investment objectives of the Advisory Research Strategic Income Fund's (the ""Fund"") are to seek high current income and to seek long term capital appreciation."

Principal investment strategy

"The Fund pursues its investment objectives primarily by investing in preferred securities and other income producing securities, including convertible securities, debt securities, common stocks, and securities of other investment companies such as closed-end funds. Under normal market conditions, the Fund primarily invests in preferred and debt securities, but the Fund's advisor retains broad discretion to allocate the Fund's investments across various asset classes. Preferred securities in which the Fund may invest include traditional straight and convertible preferreds, and hybrid preferreds ( i.e. preferred securities issued by trusts or other special purpose entities established by operating companies). From time to time, the Fund may have a significant portion of its assets in one or more market sectors such as the finance sector.

The Fund may invest in debt securities of any maturity. Debt securities in which the Fund may invest include U.S. Treasury and U.S. government agency securities, investment grade corporate debt instruments, investment grade municipal bonds and below investment grade securities. Investment grade securities are those rated at the time of acquisition Baa3 or higher by Moody's Investors Service, Inc. (""Moody's""), or BBB- or higher by Standard & Poor's, a division of McGraw Hill Companies Inc. (""S&P""), or Fitch Ratings Ltd. (""Fitch"") or, if unrated by S&P, Moody's or Fitch, determined by the Fund's advisor to be of comparable quality. Below investment grade securities are also known as ""high yield"" or ""junk"" securities. The Fund may write (sell) covered call options on securities the Fund holds in its portfolio.

The Fund may invest up to 20% of its assets in securities of non-U.S. issuers. The Fund's investments in foreign securities include non-U.S. Dollar denominated securities traded outside of the United States, U.S. Dollar denominated securities of foreign issuers traded in the United States and American Depository Receipts (""ADRs""). ADRs are receipts that represent interests in foreign securities held on deposit by U.S. banks. The Fund's advisor seeks to identify securities which it believes offer significantly higher yields than U.S. treasury securities of comparable maturity, while striving to maintain stability of principal and preserving good overall credit quality through extensive credit analysis and broad diversification across security types. The advisor selects preferred securities based upon a review of yield characteristics, call provisions, credit quality and ratings, and ability to continue paying dividends.

In evaluating and selecting debt securities, the advisor balances various factors, including increased yield as compared to U.S. treasuries, maturity, call provisions and credit quality. Convertible preferred and debt securities are additionally evaluated on various features including conversion rights, conversion ratio, likelihood of conversion, and value of the underlying security into which the convertible security may convert. The advisor selects common stocks based on the company's business and financial strength and dividend history and policy, as well as ability to potentially grow dividend distributions. The advisor selects closed-end funds based upon a review of yield, price relative to net asset value, composition of the underlying portfolio, and the nature of the distributions. The Fund will generally sell a security if its full valuation is realized, if better opportunities are identified, if news alters the advisor's investment thesis, if the security's credit quality deteriorates, or if the Fund requires cash to meet redemption requests."

C000121689 Costs and Fees

C000121689 costs about $90 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.90%
• Gross expense ratio: 2.27%
• Portfolio turnover: 48%
• Brokerage commissions: 1.65 bps of average net assets (SEC N-CEN)

C000121689 Cashflows

Over the 12 months to 2020-01, Advisory Research Strategic Income Fund had net inflows of $531.06K, from monthly SEC N-PORT filings.

C000121689 Debt Constituents

No individual debt constituents are reported in Advisory Research Strategic Income Fund's latest SEC N-PORT filing.

C000121689 Prospectus and SEC Filings

Official Advisory Research Strategic Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-03-18
• Prospectus (485BPOS) — filed 2018-03-16
• Prospectus (485BPOS) — filed 2017-03-15
• Portfolio holdings (N-PORT) — filed 2020-03-24
• Portfolio holdings (N-PORT) — filed 2019-12-27
• Annual census (N-CEN) — filed 2020-01-14
• Annual census (N-CEN) — filed 2019-01-14

Related Funds

Other Developed ex-US Multi-Cap / All-Cap Blend / Core Equity funds tracked on ABC INVEST:

• SPDR Portfolio Developed World ex- US ETF (SPDW)
• Dimensional International Core Equity Market ETF (DFAI)
• Dimensional International Core Equity 2 ETF (DFIC)
• iShares MSCI EAFE Small-Cap ETF (SCZ)
• Dimensional World ex U.S. Core Equity 2 ETF (DFAX)

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.