FWSHX — Oakhurst Short Duration High Yield Credit Fund

Data updated: 2023-11-07

FWSHX — Oakhurst Short Duration High Yield Credit Fund. Short Corporate Bond · $43.78M AUM · 0.96% expense ratio. Holdings, fees, performance and SEC filings.

FWSHX Fund Overview

FWSHX — Oakhurst Short Duration High Yield Credit Fund is a US mutual fund managed by First Western Funds Trust, categorised as Short Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: First Western Funds Trust
Category: Short Corporate Bond
Assets under management: $43.78M
1-year return: 4.1%
Ticker: FWSHX
SEC CIK: 0001546416
SEC series ID: S000050512
Share class ID: C000159396

FWSHX Investment Objective and Strategy

Oakhurst Short Duration High Yield Credit Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by First Western Funds Trust.

Investment objective

"The investment objective of the First Western Short Duration High Yield Credit Fund (the ""High Yield Credit Fund"" or the ""Fund"") is to seek a high level of income and capital appreciation."

Principal investment strategy

"Under normal circumstances, the High Yield Credit Fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in a diversified portfolio of non-investment grade debt securities (commonly known as ""junk bonds"") and floating rate senior secured loans issued by U.S. and foreign corporations, partnerships, and other business entities (""High Yield Securities""). For the purposes of this Fund, High Yield Securities include traditional corporate bonds, senior loans, floating rate and non-income producing securities, such as zero coupon bonds which pay interest only at maturity, and payment in-kind bonds which pay interest in the form of additional securities. High Yield Securities will consist of securities rated below the lowest investment grade category (BBB- by Standard & Poor's (""S&P""); Baa3 by Moody's Investors Services, Inc.

(""Moody's""), or comparably rated by at least one independent credit rating agency) or if unrated, are determined by the Adviser to be of comparable quality, at the time of purchase. The Fund seeks to maintain an average duration of 3.5 years or less and there is no maximum duration on individual securities held by the Fund. The Fund will calculate its effective duration by using the nearest call date or maturity of its securities, whichever comes first. Duration is a measure of the Fund's sensitivity to changes in interest rates. For example, if interest rates move up one percentage point (1%) while the Fund's duration is 4-years, the Fund's share price would be expected to decline by 4%. The Fund may also invest in participation interests in loans that are generally deemed High Yield Securities.

In addition, the Fund may invest in illiquid or thinly traded securities and those that are privately placed but eligible for purchase and sale by certain qualified institutional buyers (such as the Fund) under Rule 144A of the Securities Act of 1933. The Fund may also invest in preferred stocks and convertible securities. From time to time the Fund may emphasize investment in one or more particular sectors of the fixed income market. The Adviser utilizes a bottom-up security selection process, with an emphasis on a company's industry position, management quality, cash flow characteristics, asset protection and quality, liquidity and covenants. The Adviser generally will look for companies whose prospects are stable or improving and offer an assurance of debt repayment. The Adviser combines security and credit research in the selection process based upon its view of the business cycles, interest rate trends, yield curve analysis and sector analysis.

The Adviser attempts to manage volatility and principal risk through issue, industry and quality diversification and selection of issues that are higher in the capital structure. A security will be sold when an issuer no longer meets the Adviser's criteria for investment or when a more attractive investment is available. The Adviser attempts to mitigate interest rate risk by investing in certain High Yield Securities, such as floating rate securities (including loans) and short maturity bonds, which may be less sensitive to interest rate changes."

FWSHX Performance

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

Period	Total return
1 year	4.1%
3 years (annualised)	1.5%

FWSHX Risk Information

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

1-year volatility (annualised): 4.9%

FWSHX Costs and Fees

FWSHX costs about $96 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.96%
Gross expense ratio: 1.12%
Portfolio turnover: 53%
Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

FWSHX Cashflows

Over the 12 months to 2023-08, Oakhurst Short Duration High Yield Credit Fund had net outflows of $21.28M, from monthly SEC N-PORT filings.

Month	Net flow
2023-08	−$777.09K
2023-07	−$3.75M
2023-06	−$1.19M
2023-05	−$2.92M
2023-04	−$5.98M
2023-03	−$849.81K

FWSHX Debt Constituents

No individual debt constituents are reported in Oakhurst Short Duration High Yield Credit Fund's latest SEC N-PORT filing.

FWSHX Prospectus and SEC Filings

Official Oakhurst Short Duration High Yield Credit Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Short Corporate 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.