IEAAX — AIG Income Explorer Fund

Data updated: 2021-06-29

IEAAX — AIG Income Explorer Fund. Emerging Markets Real Estate · $36.61M AUM · 0.79% expense ratio. Holdings, fees, performance and SEC filings.

IEAAX Fund Overview

IEAAX — AIG Income Explorer Fund is a US mutual fund managed by SunAmerica Specialty Series, 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: SunAmerica Specialty Series
Category: Emerging Markets Real Estate
Assets under management: $36.61M
1-year return: 24.5%
Ticker: IEAAX
SEC CIK: 0001274768
SEC series ID: S000041257
Share class ID: C000127915

IEAAX Investment Objective and Strategy

AIG Income Explorer Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by SunAmerica Specialty Series.

Investment objective

"The AIG Income Explorer Fund (the ""Fund"") seeks high current income"

Principal investment strategy

"The Fund seeks to achieve its investment objective primarily by strategically allocating its assets among a preferred securities strategy, closed-end fund strategy and global dividend equity strategy. Through this combination of investments, the Fund expects to gain exposure to a broad range of income-producing investments, including both fixed income and equity securities. SunAmerica, the Fund's investment adviser, is responsible for determining the allocation among the different portions (or ""sleeves"") of the Fund, each of which is managed by either SunAmerica or Cohen & Steers Capital Management, Inc. (""Cohen & Steers"" or the ""Subadviser""), the Fund's subadviser. Cohen & Steers manages the preferred securities and closed-end fund portions of the Fund and SunAmerica manages the global dividend equity strategy.

When allocating investments across the different sleeves, SunAmerica selects the allocation that it believes is best designed at any given time to provide exposure to high income-producing investments and as such, allocations to the different portions of the Fund may fluctuate depending on market conditions and other factors. The managers of the preferred securities and closed-end fund sleeves also have significant flexibility in selecting investments for the portion of the Fund that they manage, which allows the Fund to provide exposure to a variety of sectors and income-producing strategies within these sleeves. The manager of the global dividend equity sleeve employs a ""buy and hold"" strategy whereby the Fund invests in high dividend yielding equity securities that are selected from a broad-based global market index.

The principal investment strategies and principal investment techniques of the Fund may be changed without shareholder approval. Preferred Securities Strategy (""Preferred Sleeve""). The principal investment technique of the Preferred Sleeve is to invest in a diversified portfolio of preferred securities issued by U.S. and foreign companies, including traditional preferred securities, hybrid preferred securities and floating rate preferred securities. The Preferred Sleeve may invest in both investment grade and below investment grade securities. The Preferred Sleeve expects to invest a substantial portion of its assets in the financial services sector, which is comprised of the banking, brokerage and insurance industries. The Preferred Sleeve may also invest in other sectors or industries, including, but not limited to, real estate (including real estate investment trusts or ""REITs""), energy, industrials, utilities, pipelines, health care and telecommunications.

The Subadviser retains broad discretion to allocate the Preferred Sleeve's investments across various sectors and industries. Closed-End Fund Strategy (""Closed-End Fund Sleeve""). The principal investment technique of the Closed-End Fund Sleeve is to invest in the common stock of closed-end management investment companies (""Closed-End Funds"") selected by Cohen & Steers that invest significantly in fixed income securities, although the Closed-End Fund Sleeve may also invest in Closed-End Funds that invest in equity and other income-producing securities. The types of securities held by the Closed-End Funds may include, but are not limited to, convertible securities, emerging market debt securities, government securities, high yield securities, investment grade securities, mortgage securities, preferred securities, senior loan securities, municipal securities and common stocks, and the Closed-End Funds may seek to obtain exposure to income-producing securities through a variety of different investment strategies, such as global income strategies, limited duration strategies, multi-sector strategies and other income-oriented strategies.

Shares of Closed-End Funds in which the Fund invests will be traded on a listed exchange or in the over-the-counter market. Cohen & Steers employs a research-driven investment process for selecting Closed-End Funds that is intended to produce a portfolio focused on high current income that is allocated across multiple sectors, strategies and managers and that is consistent with the Fund's overall investment objectives. Global Dividend Equity Strategy (""Global Dividend Sleeve""). The principal investment technique of the Global Dividend Sleeve is to employ a ""buy and hold"" strategy with approximately 50 high dividend yielding equity securities selected annually from the Morgan Stanley Capital International All Country World Index (""MSCI ACWI Index""). It is expected that the Global Dividend Sleeve will invest primarily in common stocks and, to a lesser extent, preferred stocks, and may invest in companies of any size.

It is anticipated that the Global Dividend Sleeve will invest in both U.S. and foreign (non-U.S.) securities, including securities of emerging markets, and that the Global Dividend Sleeve will be invested in a number of different countries. The Global Dividend Sleeve employs in part a value-oriented philosophy in conjunction with its selection of high dividend yielding equity securities. The selection criteria used by SunAmerica to identify high dividend yielding equity securities from the MSCI ACWI Index will generally include dividend yield as well as a combination of factors that relate to profitability and valuation. While the securities selection process will take place on an annual basis, the portfolio managers may, from time to time, substitute certain securities for those selected for the Global Dividend Sleeve or reduce the position size of a portfolio security in between the annual rebalancings under certain limited circumstances.

These circumstances will generally include where a security held by the Global Dividend Sleeve no longer meets the dividend yield criteria or when the value of a security becomes a disproportionately large percentage of the Global Dividend Sleeve's holdings, in the discretion of the portfolio managers. The Global Dividend Sleeve will be evaluated and adjusted at the discretion of the portfolio managers on an annual basis. The annual consideration of the securities that meet the selection criteria will take place on or about July 1. Immediately after the Fund buys and sells securities in connection with the Global Dividend Sleeve's annual rebalancing, the sleeve will hold approximately an equal value of each of the 50 securities. Stated differently, the Fund will invest about 1/50th of the Global Dividend Sleeve's assets in each of the securities that makes up its portfolio.

Thereafter, when an investor purchases shares of the Fund, with respect to the amount allocated to the Global Dividend Sleeve, SunAmerica will generally invest additional funds in the pre-selected securities based on each security's respective percentage of the sleeve's assets at the time. The Global Dividend Sleeve employs a strategy to hold securities between its annual rebalancings, even if there are adverse developments concerning a particular security, an industry, the economy or the stock market generally. Due to changes in the market value of the securities held by the Global Dividend Sleeve, it is likely that the weighting of the stocks in its portfolio will fluctuate throughout the course of the year."

IEAAX Performance

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

Period	Total return
1 year	24.5%

IEAAX Risk Information

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

1-year volatility (annualised): 10.9%

IEAAX Costs and Fees

IEAAX costs about $79 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.79%
Gross expense ratio: 2.54%
Portfolio turnover: 138%
Brokerage commissions: 13.60 bps of average net assets (SEC N-CEN)

IEAAX Cashflows

Over the 12 months to 2021-04, AIG Income Explorer Fund had net outflows of $8.38M, from monthly SEC N-PORT filings.

Month	Net flow
2021-04	−$964.25K
2021-03	−$1.70M
2021-02	−$1.03M
2021-01	−$600.93K
2020-12	−$968.37K
2020-11	−$217.09K

IEAAX Debt Constituents

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

IEAAX Prospectus and SEC Filings

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

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.