Kensington Managed Income Fund

Data updated: 2022-05-24

C000212092 — Kensington Managed Income Fund. Money Market · $877.81M AUM · 2.13% expense ratio. Holdings, fees, performance and SEC filings.

C000212092 Fund Overview

Kensington Managed Income Fund is a US mutual fund managed by Advisors Preferred 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: Advisors Preferred Trust
Category: Money Market
Assets under management: $877.81M
1-year return: -1.0%
SEC CIK: 0001556505
SEC series ID: S000065569
Share class ID: C000212092

C000212092 Investment Objective and Strategy

Kensington Managed Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Advisors Preferred Trust.

Investment objective

The Kensington Managed Income Fund (the ?Fund?) seeks income.

Principal investment strategy

The Adviser delegates execution of the Fund?s investment strategy to Kensington Asset Management LLC (previously known as Kensington Analytics, LLC) (the ?Sub-Adviser?). The Sub-Adviser seeks to achieve the Fund?s investment objective by investing primarily in mutual funds that invest in income-producing securities. The Fund defines income-producing securities as interest-paying: bills, notes, bonds, debentures, bank loans, loan participations, syndicated loan assignments and other evidence of indebtedness. The Fund invests without restriction as to issuer credit quality, country (including emerging markets), capitalization, or security maturity or currency. Typically, the Fund invests the majority of its assets in high-yield securities, which are debt instruments rated lower than Baa3 by Moody?s Investor Services, Inc.

(?Moody?s?) or lower than BBB- by Standard and Poor?s Rating Group. Inc. (?S&P?), or, if unrated, determined by the adviser to be of similar credit quality. High-yield securities are also known as ?junk bonds.? The Fund may invest in junk bonds that are in default, subject to bankruptcy or reorganization. The Sub-Adviser does not select individual securities as a principal strategy, but rather employs a fund-of-funds approach that achieves exposure to income-producing securities through mutual funds. The Sub-Adviser selects mutual funds based on performance, relative fees, management experience and underlying portfolio composition and strategy. Mutual funds may employ leverage. The Fund is non-diversified, which means it may invest a high percentage of its assets in a limited number of securities.

The Sub-Adviser?s strategy is principally driven by a proprietary ?Managed Income Model? that evaluates the changes of the following daily inputs: ? NAVs of U.S. High-Yield Bond Funds ? Prices of Long-Term US Treasury Bonds ? Level of the NASDAQ Composite Index ? Level of the Value Line Geometric Composite Index ? The Daily Number of NYSE Companies with Advancing versus Declining Stock Prices Outputs from the Managed Income Model are evaluated at the end of each trading day and generate a buy or sell signal that identifies the overall directional bias of the Fund?s portfolio. Using the Managed Income Model signals, the Sub-Adviser will tactically shift the Fund?s mutual funds holdings and asset allocations accordingly. The NASDAQ Composite Index is a market capitalization-weighted index of approximately 3,000 common equities listed on the NASDAQ stock exchange.

The Value Line Geometric Composite Index is composed of the returns of the companies included in the Value Line Investment Survey with returns calculated geometrically over time rather than by using a simple average. The survey is generally representative of equity securities traded on US stock exchanges. It identifies approximately 1,700 companies accounting for approximately 90% of the market capitalization of all stocks traded on the US stock exchanges. Generally, when the Sub-Adviser believes high-yield market conditions are favorable, the Fund invests in longer maturity and lower quality high-yield securities. When the Sub-Adviser believes high-yield market conditions are less favorable, the Fund invests in shorter maturity and better quality high-yield securities and money market instruments.

The Sub-Adviser may engage in frequent trading to achieve the Fund?s investment objective, which may result in turnover in excess of 100%.

C000212092 Performance

Total returns for C000212092 (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	-1.0%
3 years (annualised)	3.3%

C000212092 Risk Information

Risk metrics for C000212092, derived from monthly returns in SEC filings.

1-year volatility (annualised): 2.5%

C000212092 Costs and Fees

C000212092 costs about $213 per $10,000 invested per year in fund expenses.

Net expense ratio: 2.13%
Gross expense ratio: 2.13%
Portfolio turnover: 220%
Brokerage commissions: 1.38 bps of average net assets (SEC N-CEN)

C000212092 Cashflows

Over the 12 months to 2022-03, Kensington Managed Income Fund had net inflows of $930.06M, from monthly SEC N-PORT filings.

Month	Net flow
2022-03	$115.79M
2022-02	$82.38M
2022-01	$100.24M
2021-12	$90.44M
2021-11	$79.77M
2021-10	$64.73M

C000212092 Debt Constituents

No individual debt constituents are reported in Kensington Managed Income Fund's latest SEC N-PORT filing.

C000212092 Prospectus and SEC Filings

Official Kensington Managed Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

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.