Salient Tactical Plus Fund
Data updated: 2022-11-17
C000147195 — Salient Tactical Plus Fund. Money Market · $73.41M AUM · 2.52% expense ratio · -12.0% 1-yr return. Holdings, fees, performance and SEC filings.
C000147195 Fund Overview
Salient Tactical Plus Fund is a US mutual fund managed by Salient MF Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Salient MF Trust
- Category: Money Market
- Assets under management: $73.41M
- 1-year return: -12.0%
- SEC CIK: 0001535174
- SEC series ID: S000047075
- Share class ID: C000147195
C000147195 Investment Objective and Strategy
Salient Tactical Plus Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Salient MF Trust.
Investment objective
The Salient Tactical Plus Fund (the “Fund”) seeks to produce, in any market environment, above-average risk-adjusted returns and less downside volatility than the S&P 500 Index.
Principal investment strategy
"The Fund seeks to achieve its investment objective by investing primarily in a diversified portfolio of instruments that provide exposure to U.S. and non-U.S. equity securities. These instruments generally include futures and options on securities, securities indices and shares of exchange-traded funds (""ETFs""). The Fund may also invest in equity securities (such as common stocks, preferred stocks and shares of investment companies, including ETFs) of U.S. and non-U.S. issuers, which may include emerging market issuers, in any industry sector and in all market capitalization ranges, including small capitalization stocks, without limitation. The Fund may hold a substantial portion of its assets in cash and cash equivalents, including money market instruments, commercial paper and short-term securities issued by U.S.
and non-U.S. issuers, and in fixed-income instruments of U.S. and non-U.S. issuers that are of investment grade and of any maturity. Such fixed-income instruments include corporate bonds, government securities, and bank debt. The Fund may also invest in futures, options, and swaps on fixed-income instruments, credit indices, and interest rates such as futures on government securities and options on interest rate swaps. Broadmark Asset Management LLC's (the ""Sub-Advisor"") investment approach for managing the Fund's assets focuses on identifying securities and other instruments that the Sub-Advisor believes are undervalued, or overvalued, relative to their intrinsic values, and that offer the greatest risk-adjusted potential for returns. In evaluating whether a particular market, sector or industry is undervalued or overvalued, the Sub-Advisor considers a variety of factors, including valuation and monetary conditions, investor sentiment and returns over a calendar year or other time period.
The Sub-Advisor seeks to invest in futures, options and options on futures on indices, equity securities, and other instruments in sectors and industries or groups of industries that the Sub-Advisor believes are attractive on a relative basis. Consistent with this approach, the Sub-Advisor may also sell short options and futures on indices, equity securities and other instruments that it believes are less attractive on a relative basis. The Sub-Advisor's investment approach also involves using strategies designed to create less downside volatility than the S&P 500 Index. With respect to the Fund, the Fund's principal investment strategies include seeking to create less market exposure during equity market downturns. If this strategy is successful, having less equity market exposure during equity downturns, as determined by the Sub-Advisor's investment process, will result in the Fund having less downside volatility than the S&P 500 Index.
The Fund may also enter into forward foreign currency exchange contracts. For hedging and non-hedging (speculative) purposes, the Fund may also invest in options on foreign currencies, foreign currency futures and options and foreign currency exchange-related securities like foreign currency warrants and other instruments linked to foreign currency exchange rates. The Fund may write (sell) covered and uncovered put and call options, and may purchase put and call options, on securities, securities indices, shares of ETFs and other instruments. In addition, for purposes of adjusting risk and return of its investment positions, the Fund may purchase or write a combination of options (i.e., simultaneously writing call options and purchasing put options). In addition to purchasing, or taking ""long"" positions in equity securities, the Fund may employ both leveraged investment techniques (e.g., investments in futures and options) as well as short positions on target securities, which allow the Fund a net exposure which can range from 200% net long to 100% net short in its portfolio, as measured at the time of investment.
For example, if the Fund invests 130% of its net assets in long positions and 30% of its net assets in short positions, the Fund is ""100% net long."" When the Fund's outstanding short positions equal its net assets, the Fund is ""100% net short."" The Fund may employ short positions independently of (and without regard to) its existing long positions and such short positions may not offset, or correlate directly to, long positions. The percentage of the Fund's assets held in cash and cash equivalents will fluctuate depending on various factors, including the Sub-Advisor's current assessment of markets, valuation and monetary conditions, investor sentiment, risks and other investment factors, the Fund's current requirements for liquidity, and the Fund's need to satisfy margin requirements with respect to its use of derivative instruments.
The Fund may engage in active and frequent trading of portfolio securities to achieve its investment objective."
C000147195 Performance
Total returns for C000147195 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -12.0% |
| 3 years (annualised) | -8.2% |
C000147195 Risk Information
Risk metrics for C000147195, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.9%
C000147195 Costs and Fees
C000147195 costs about $252 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.52%
- Gross expense ratio: 3.07%
- Portfolio turnover: 62%
- Brokerage commissions: 24.85 bps of average net assets (SEC N-CEN)
C000147195 Cashflows
Over the 12 months to 2022-09, Salient Tactical Plus Fund had net inflows of $4.48M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-09 | −$37.23K |
| 2022-08 | $662.56K |
| 2022-07 | $112.39K |
| 2022-06 | −$256.57K |
| 2022-05 | $471.39K |
| 2022-04 | $217.25K |
C000147195 Debt Constituents
No individual debt constituents are reported in Salient Tactical Plus Fund's latest SEC N-PORT filing.
C000147195 Prospectus and SEC Filings
Official Salient Tactical Plus Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-04-29
- Prospectus (485BPOS) — filed 2021-04-30
- Prospectus (485BPOS) — filed 2020-05-20
- Portfolio holdings (N-PORT) — filed 2022-11-17
- Portfolio holdings (N-PORT) — filed 2022-08-25
- Portfolio holdings (N-PORT) — filed 2022-05-25
- Annual census (N-CEN) — filed 2022-03-11
- Annual census (N-CEN) — filed 2021-03-05
Related Funds
Other Money Market 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.