iM Dolan McEniry Corporate Bond Fund
Data updated: 2021-08-23
C000204812 — iM Dolan McEniry Corporate Bond Fund. Money Market · $91.99M AUM · 1.06% expense ratio. Holdings, fees, performance and SEC filings.
C000204812 Fund Overview
iM Dolan McEniry Corporate Bond Fund is a US mutual fund managed by Manager Directed Portfolios, 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: Manager Directed Portfolios
- Category: Money Market
- Assets under management: $91.99M
- 1-year return: 3.2%
- SEC CIK: 0001359057
- SEC series ID: S000063189
- Share class ID: C000204812
C000204812 Investment Objective and Strategy
iM Dolan McEniry Corporate Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Manager Directed Portfolios.
Investment objective
"The iM Dolan McEniry Corporate Bond Fund (the ""Fund"") seeks to provide investors with total return,"
Principal investment strategy
"The Fund will invest in a diversified portfolio of corporate investment grade bonds, corporate high yield bonds, and U.S. Government and Treasury securities maturing within 10 years or less. All securities will be U.S dollar denominated although they may be issued by a foreign corporation or a U.S. affiliate of a foreign corporation. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in corporate bonds. In addition to investments in corporate bonds, the Fund may invest in corporate bonds issued by foreign corporations. The Fund invests approximately 75% of its net assets in corporate bonds that are determined by the Fund's sub-advisor, Dolan McEniry Capital Management LLC (the ""Sub-Advisor""), to be investment grade, and approximately 25% of its net assets in high yield bonds (also known as ""junk bonds"").
The Fund may invest up to 20% of its net assets in U.S. Government and Treasury securities. The Sub-Advisor anticipates that the Fund's duration will reflect that of the Bloomberg Barclays U.S. Credit Intermediate Index, plus or minus 50%. For example, if the duration of the Bloomberg Barclays U.S. Credit Intermediate Index is 5 years, the Fund's duration may be 2.57.5 years. As of August 31, 2018, the duration of the Bloomberg Barclays U.S. Credit Intermediate Index was 4.16 years. Duration measures a bond or fund's sensitivity to interest rate or other changes (such as changes in a bond's yield) and is expressed as a number of years. The higher the number, the greater the risk. Under normal circumstances, for example, if a portfolio has a duration of 5 years, its value will change by 5% if yields change by 1%.
Shorter duration bonds generally result in lower expected volatility. The Fund's investment universe consists of all corporate investment grade bonds, high yield bonds, and U.S. Government and Treasury securities maturing within 10 years or less. When making decisions to buy or sell an investment for the Fund, the Sub-Advisor utilizes bottom-up investment analysis which focuses on credit analysis and selection of undervalued bonds. The Sub-Advisor analyzes companies' financial statements and creates financial models to assess trends in revenue, margins, earnings, cash earnings, investments in working capital and fixed assets, debt levels and cash balances, and other items. The Sub-Advisor's investment process is designed to identify undervalued corporate bondsthose that trade at wide spreads to U.S.
Treasury securities yet are issued by companies that, in the Sub-Advisor's assessment, generate sufficient cash flow to meet their debt obligations. The Sub-Advisor ranks securities with equal weighting given to risk (cash flow coverage of debt obligations) and return (spread to U.S. Treasuries). The process identifies what the Sub-Advisor deems to be the most undervalued bonds and is a factor considered in the construction of the Fund's investment portfolio. The Fund may invest up to 100% of its net assets in high-quality, short-term debt securities and money market instruments for temporary defensive purposes."
C000204812 Performance
Total returns for C000204812 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 3.2% |
C000204812 Risk Information
Risk metrics for C000204812, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.6%
C000204812 Costs and Fees
C000204812 costs about $106 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.06%
- Gross expense ratio: 1.79%
- Portfolio turnover: 40%
C000204812 Cashflows
Over the 12 months to 2021-06, iM Dolan McEniry Corporate Bond Fund had net inflows of $84.18M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2021-06 | $5.52M |
| 2021-05 | $8.60M |
| 2021-04 | $6.13M |
| 2021-03 | $10.77M |
| 2021-02 | $7.85M |
| 2021-01 | $11.48M |
C000204812 Debt Constituents
No individual debt constituents are reported in iM Dolan McEniry Corporate Bond Fund's latest SEC N-PORT filing.
C000204812 Prospectus and SEC Filings
Official iM Dolan McEniry Corporate Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-04-29
- Prospectus (485BPOS) — filed 2020-05-07
- Prospectus (485BPOS) — filed 2019-05-14
- Portfolio holdings (N-PORT) — filed 2021-08-23
- Portfolio holdings (N-PORT) — filed 2021-05-27
- Portfolio holdings (N-PORT) — filed 2021-02-26
- Annual census (N-CEN) — filed 2021-03-16
- Annual census (N-CEN) — filed 2020-03-12
Related Funds
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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.