PBKIX — Polen Bank Loan Fund

PBKIX Fund Overview

PBKIX — Polen Bank Loan Fund is a US mutual fund managed by FundVantage 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: FundVantage Trust
• Category: Short Corporate Bond
• Assets under management: $9.18M
• 1-year return: 8.4%
• Ticker: PBKIX
• SEC CIK: 0001388485
• SEC series ID: S000076728
• Share class ID: C000236762

PBKIX Investment Objective and Strategy

Polen Bank Loan Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by FundVantage Trust.

Investment objective

Polen Bank Loan Fund (the Fund) seeks to achieve overall total return consisting of a high level of current income together with long-term capital appreciation.

Principal investment strategy

The Fund pursues its investment objective by seeking to outperform the broader bank loan market over a complete credit cycle. The credit cycle is a cyclical event that generally occurs over a several year timeframe as access to credit increases or decreases for borrowers. The bank loan market generally comprises first lien and second lien senior loans that are provided by a group of lenders and are structured, arranged and administered by one or several commercial or investment banks. The Fund seeks to achieve its objective mainly by investing in bank loans and other high yield fixed income securities with a focus on middle market issuers in the United States and, to a lesser extent, Canada. The Adviser considers middle market companies to be those with normalized earnings before interest, tax and depreciation (EBITDA) in the range of $75-250 million.

The Adviser believes that the flexibility to invest, sell, and reinvest throughout the capital structure of an issuer and, in particular, in bank loans will enable the Adviser to tailor its investment approach to the specific credit-related circumstances of that issuer as they may change from time to time and thereby select the most attractive opportunities for the Fund. The Fund intends to invest its assets primarily in credit instruments that are rated below investment grade by some or all relevant independent rating agencies, including Moodys Investors Service, Standard and Poors Rating Services and Fitch Ratings (including a significant portion of such assets in credit instruments in the lower tier of the high yield and leveraged loan market that are rated B and below). Additionally, certain other high yield securities may be unrated by rating agencies, but determined by the Adviser to be of similar quality as other below investment grade bonds and credit instruments and accordingly purchased for investment by the Fund.

The Fund does not have a percentage limitation on investing in securities that are rated below investment grade. High yield fixed income securities include high yield corporate bonds, senior loans, convertible bonds, preferred stock, and other types of debt instruments (including, without limitation, unregistered (Rule 144A) securities, floating and variable rate securities and other restricted fixed income securities to the extent permitted by the Investment Company Act of 1940, as amended (the 1940 Act)). In addition, the Fund may also hold positions in equity or other assets that the Fund receives as part of a reorganization process of a high yield issuer, and may hold those assets until such time as the Adviser believes that a disposition is most advantageous. From time to time, the Fund may make investments in distressed or defaulted securities or in issuers that are in bankruptcy.

The Fund does not have any maturity or duration requirements. In making these investments, the Adviser seeks to purchase instruments that the Adviser believes are undervalued and offer a compelling risk/reward ratio. Specifically, the Advisers investment process attempts to exploit inefficiencies in the high yield credit markets by adhering to a disciplined, bottom-up, fundamentally-oriented investment process with an emphasis on downside protection. This process applies value investing principles through rigorous research coupled with financial, structural and legal analysis, including a review of bankruptcy law considerations where applicable. The foundation of this investment process is to derive an accurate, real-time valuation of a target company, and only invest in securities of that companys capital structure that offer a significant margin of safety coupled with strong total return potential.

By utilizing such a fundamental, bottom-up approach to investing, the Adviser seeks to add value first and foremost through security selection. The Adviser intends to manage a relatively concentrated portfolio typically comprising between 50-100 issuers and 60-110 issues; however, the Fund may fall outside such ranges at the Advisers discretion based on then-available investment opportunities. The Fund has adopted an investment policy providing that under normal circumstances, the Fund will invest at least 80% of the value of its assets (net assets plus the amount of any borrowings for investment purposes) in bank loans. For purposes herein, a bank loan is an instrument arranged by a bank (or similar financial institution) to a company that typically holds legal claim to such companys assets that is senior to all (or substantially all) other debt obligations.

PBKIX Holdings

Top 10 holdings of Polen Bank Loan Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all PBKIX holdings

PBKIX Portfolio Allocation

Asset-class allocation of Polen Bank Loan Fund by percentage of net assets, from the latest SEC N-PORT filing.

PBKIX Performance

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

PBKIX Risk Information

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

• 1-year volatility (annualised): 1.0%

PBKIX Costs and Fees

PBKIX costs about $75 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.75%
• Gross expense ratio: 2.11%
• Portfolio turnover: 120%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

PBKIX Cashflows

Over the 12 months to 2025-01, Polen Bank Loan Fund had net inflows of $961.55K, from monthly SEC N-PORT filings.

PBKIX Debt Constituents

Largest debt holdings of Polen Bank Loan Fund by percentage of net assets, from the latest SEC N-PORT filing.

PBKIX Prospectus and SEC Filings

Official Polen Bank Loan Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2024-08-28
• Prospectus (485BPOS) — filed 2023-08-28
• Prospectus supplement (497) — filed 2023-11-20
• Portfolio holdings (N-PORT) — filed 2025-03-25
• Portfolio holdings (N-PORT) — filed 2024-12-19
• Portfolio holdings (N-PORT) — filed 2024-09-23
• Annual census (N-CEN) — filed 2024-07-15
• Annual census (N-CEN) — filed 2023-07-14

Related Funds

Other Short Corporate Bond funds tracked on ABC INVEST:

• Vanguard Short-Term Investment-Grade Fund (VFSTX)
• Vanguard Short-Term Corporate Bond Index Fund (VSCSX)
• American High Income Trust (AHITX)
• Vanguard High-Yield Corporate Fund (VWEHX)
• PGIM High Yield Fund (JDYRX)

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.