GMACX — Aberdeen Diversified Income Fund
Data updated: 2020-09-24
GMACX — Aberdeen Diversified Income Fund. Emerging Markets Real Estate · $9.05M AUM · 1.69% expense ratio. Holdings, fees, performance and SEC filings.
GMACX Fund Overview
GMACX — Aberdeen Diversified Income Fund is a US mutual fund managed by abrdn Funds, categorised as Emerging Markets Real Estate. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: abrdn Funds
- Category: Emerging Markets Real Estate
- Assets under management: $9.05M
- 1-year return: -4.5%
- Ticker: GMACX
- SEC CIK: 0001413594
- SEC series ID: S000020303
- Share class ID: C000057012
GMACX Investment Objective and Strategy
Aberdeen Diversified Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by abrdn Funds.
Investment objective
The Aberdeen Diversified Income Fund (the Diversified Income Fund or the Fund) seeks total return with an emphasis on current income.
Principal investment strategy
The Diversified Income Fund is a fund of funds that seeks to achieve its investment objective by investing primarily in underlying funds (the Underlying Funds) and, to a limited extent, in direct investments. The Fund intends to allocate its assets among a wide range of asset classes in a dynamic way to capture income from a number of fixed income, equity and other sources. The types of asset classes to which the Underlying Funds and direct investments provide exposure may include U.S. and international equities (including emerging market equities), U.S. and international bonds (including emerging market bonds) and real estate. The Fund may allocate its assets to Underlying Funds that invest in securities of companies of any market sector and which may hold a significant amount of securities of companies, from time to time, within a single sector.
The Fund may also allocate assets to a limited extent to Underlying Funds that pursue alternative investment strategies, such as managed futures, commodity-linked instruments, equity sectors, currencies and floating rate loans. The asset classes are selected primarily based on their income-generating potential, without regard to the source of income, although diversification benefits and potential for capital appreciation may also be considered. The Fund may invest in Underlying Funds that do not have income as an objective, and to the extent it does so, it will not generate as much current income as a fund focused entirely on income-generation. The Underlying Funds include, among others, mutual funds advised by Aberdeen Asset Management Inc., the Funds investment adviser (the Adviser), as well as unaffiliated mutual funds, closed-end funds and exchange-traded funds.
There is no minimum amount of assets that must be invested in affiliated Underlying Funds. The Underlying Funds may be either actively managed or passively managed (that is, providing indexed exposures) in nature. Some or all of the Underlying Funds may invest in derivatives. The Fund may also seek exposure to income-producing asset classes by investing directly in exchange-traded notes (ETNs). The Fund may use ETNs as a substitute for taking a direct position in the underlying asset (where the Adviser believes that indirect exposure to the underlying asset is more effective). In addition to ETNs, the Funds direct investments may include investments in certain types of derivatives, for example, securities index futures or options, which may be used to hedge against a decline in the value of the Funds assets.
A derivative is a contract whose value is based on performance of an underlying financial asset, index or economic measure. The Adviser develops strategic asset class allocation views among broad asset classes based on its ongoing analyses of global financial markets and macro-economic conditions. The Funds portfolio management team constructs the Funds portfolio by setting target asset class allocations for the Fund. The portfolio management team then manages the Funds portfolio by dynamically adjusting the Funds asset class allocations based on the Advisers asset class allocation views and selecting Underlying Funds or direct investments to obtain exposures to the asset classes. As part of its process, the team evaluates the suitability of both active and passive vehicles to provide exposure to each asset class.
The target asset class allocations established by the portfolio management team are intended to promote diversification among the asset classes. The Funds asset class allocations and the investments held in the Funds portfolio are monitored by the portfolio management team on an ongoing basis and are adjusted periodically to reflect changes in the Advisers view. The Fund retains the flexibility to emphasize specific asset class allocations based on relative valuations and other economic factors in order to seek to achieve the Funds objective. While the Fund will not invest more than 25% of its total assets in any one Underlying Fund, the Fund may have significant exposure to one or more asset classes depending on market conditions. The Fund has the ability to invest, through the Underlying Funds or ETNs, in small, medium or large capitalization issuers without regard to credit quality (including high yield bonds, which are commonly known as junk bonds) or geographic location, and is not limited by industry sector or the duration of individual instruments or the portfolio as a whole.
At times, the Fund may emphasize any one of these exposures. Asset classes may be added or removed at the Advisers discretion. For additional information regarding the above identified strategies, see Fund Details: Additional Information about Principal Strategies in the prospectus.
GMACX Performance
Total returns for GMACX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -4.5% |
GMACX Risk Information
Risk metrics for GMACX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 18.1%
GMACX Costs and Fees
GMACX costs about $169 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.69%
- Gross expense ratio: 2.88%
- Portfolio turnover: 4%
- Brokerage commissions: 0.73 bps of average net assets (SEC N-CEN)
GMACX Cashflows
Over the 12 months to 2020-07, Aberdeen Diversified Income Fund had net outflows of $3.11M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-07 | −$1.11M |
| 2020-06 | −$494.04K |
| 2020-05 | −$482.26K |
| 2020-04 | $142.86K |
| 2020-03 | −$322.24K |
| 2020-02 | −$34.88K |
GMACX Debt Constituents
No individual debt constituents are reported in Aberdeen Diversified Income Fund's latest SEC N-PORT filing.
GMACX Prospectus and SEC Filings
Official Aberdeen Diversified Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-03-19
- Prospectus (485BPOS) — filed 2019-03-21
- Prospectus (485BPOS) — filed 2018-03-21
- Portfolio holdings (N-PORT) — filed 2020-09-24
- Portfolio holdings (N-PORT) — filed 2020-06-23
- Portfolio holdings (N-PORT) — filed 2020-03-27
- Annual census (N-CEN) — filed 2020-01-13
- Annual census, amended (N-CEN/A) — filed 2019-04-05
Related Funds
Other Emerging Markets Real Estate 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.