PFFBX — PFG Fidelity Institutional AM Core Plus Bond Strategy Fund
Data updated: 2026-09-28
PFFBX — PFG Fidelity Institutional AM Core Plus Bond Strategy Fund. Holdings, fees, performance and SEC filings.
PFFBX Fund Overview
PFFBX — PFG Fidelity Institutional AM Core Plus Bond Strategy Fund is a US mutual fund managed by Northern Lights Fund Trust, categorised as United States Multi-Cap / All-Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Northern Lights Fund Trust
- Category: United States Multi-Cap / All-Cap Blend / Core Equity
- Assets under management: $69.82M
- 1-year return: 1.3%
- Ticker: PFFBX
- SEC CIK: 0001314414
- SEC series ID: S000073752
- Share class ID: C000230899
PFFBX Investment Objective and Strategy
PFG Fidelity Institutional AM Core Plus Bond Strategy Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Northern Lights Fund Trust.
Investment objective
The Fund seeks current income.
Principal investment strategy
The Fund, under normal circumstances, will invest at least 80% of its net assets, (defined as net assets plus the amount of any borrowing for investment purposes) in Fidelity mutual funds and Fidelity exchange traded funds (?Fidelity Underlying Funds?). The balance of the Fund?s net assets will be invested in Fidelity Underlying Funds or mutual funds or exchange traded funds (?ETFs?) managed by advisers other than Fidelity (?Other Underlying Funds?), under normal market circumstances. At least 80% of the Fund?s assets (defined as net assets plus the amount of any borrowing for investment purposes) will be invested in Fidelity Underlying Funds and Other Underlying Funds that invest primarily in fixed-income securities, under normal circumstances. Fixed income securities shall consist of U.S.
dollar denominated fixed income securities issued by domestic and foreign corporations and government entities of any investment grade, including high yield bonds (also known as ?junk bonds?), asset-backed, and mortgage-backed securities. The Fund defines high-yield fixed income securities as corporate bonds or other bonds or debt instruments that are generally rated lower than Baa3 by Moody?s Investors Service, Inc. (?Moody?s?) or lower than BBB- by Standard and Poor?s Rating Group (?S&P?). The Fund operates as a fund of funds. In selecting Fidelity Underlying Funds and Other Underlying Funds to purchase or sell on behalf of the Fund, Pacific Financial Group, LLC (the ?Adviser?) considers data and analysis regarding a model portfolio of Fidelity Underlying Funds and at times, Other Underlying Funds provided by Fidelity Institutional Wealth Adviser LLC, which uses the brand name of Fidelity Institutional AM .
The Adviser is solely responsible for selecting the Fidelity Underlying Funds and Other Underlying Funds in which the Fund invests. No Fidelity entity is an investment adviser or sub-adviser to the Fund. The Fund seeks to outperform its benchmark over a full market cycle. The strategy intends to generate these returns through asset allocation and selection of Underlying Funds, both of which are updated quarterly. Allocation changes are largely driven by updates to each Underlying Fund?s relative attractiveness and risk characteristics. The Fund?s portfolio will aim to maintain duration in line with the Bloomberg U.S. Aggregate Bond Index. As of mid-2025, the effective duration of the Index was approximately 6 years. Duration measures the sensitivity of a debt security or portfolio to changes in interest rates for example, a duration of ?three?
implies an expected price decrease of roughly 3% with a 1% increase in rates. The Fund may invest up to 25% of its assets in below investment grade securities (?junk bonds?). The Fund invests across fixed income sectors and spans a range of duration and credit qualities. In determining the Fund?s asset allocation, the Adviser considers information provided by Fidelity?s Fixed Income Division, which in turn utilizes alpha forecasts to help identify active and passive Underlying Funds within the fund universe to minimize tracking error and that have higher estimated alpha. ?Tracking error? is defined by the risk of an investment portfolio that is due to active management and indicates how closely a portfolio follows the index to which it is benchmarked. A tracking error of 0 means that the investment portfolio is tracking at 100% to the index which it is benchmarked.
The Fund?s benchmark index is the Bloomberg U.S. Aggregate Bond Index. ?Alpha? refers to a particular investment?s return relative to the overall market or benchmark index. Although the Fund does not intend to focus its investments in any particular sector, its portfolio may be focused in certain sectors from time to time as a result of its investment process. Further, in managing the Fund?s level of investment risk, the Adviser utilizes RiskPro , a software technology developed by ProTools, LLC, an affiliate of the Adviser. Based on proprietary algorithms, RiskPro provides an estimate of the range of gain or loss of a portfolio of securities over a forward-looking rolling twelve-month period. The higher the RiskPro estimate, the greater the level of volatility that the Fund may experience over a twelve-month period.
RiskPro?s algorithms take into account, among other factors, the volatility of the portfolio over the prior twelve months; a comparison of the portfolio?s volatility over the prior twelve-month period, to the volatility of the S&P 500 Index; and the long-term volatility of the S&P 500 Index. The Adviser utilizes RiskPro to manage the Fund?s volatility as a whole, and to assess the impact of the Fund?s investment in the Fidelity Underlying Funds or Other Underlying Funds. In some circumstances, the Adviser may use RiskPro to identify specific Fidelity Underlying Funds or Other Underlying Funds in which to invest, on behalf of the Fund. For this Fund, the Adviser?s goal is to limit the Fund?s maximum range of total returns, over a twelve-month period, to a gain or a loss of less than 13%.
Depending on market conditions, the Fund?s potential gain or loss, as estimated by RiskPro , may exceed 13% from time to time. The use of RiskPro allows investors to evaluate whether the expected volatility of the Fund, as estimated by RiskPro over a forward-looking rolling twelve-month period, is aligned with the investors? level of comfort with investment risk.
PFFBX Holdings
Top 7 holdings of PFG Fidelity Institutional AM Core Plus Bond Strategy Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Fidelity Income Fund | 40.51% |
| Fidelity Merrimack Street Trust | 17.00% |
| Fidelity Salem Street Trust | 16.06% |
| Ishares Trust | 11.02% |
| Invesco Exchange-Traded Fund Trust Ii | 7.89% |
| Fidelity Summer Street Trust | 6.90% |
| Blackrock Liquidity Funds | 0.53% |
PFFBX Portfolio Allocation
Asset-class allocation of PFG Fidelity Institutional AM Core Plus Bond Strategy Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.4% |
| Cash & Equivalents | 0.5% |
PFFBX Performance
Total returns for PFFBX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -1.3% |
| 1 year | 1.3% |
| 3 years (annualised) | 2.8% |
PFFBX Risk Information
Risk metrics for PFFBX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.6%
PFFBX Costs and Fees
PFFBX costs about $229 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.29%
- Gross expense ratio: 2.29%
- Portfolio turnover: 42%
- Brokerage commissions: 1.53 bps of average net assets (SEC N-CEN)
PFFBX Cashflows
Over the 12 months to 2026-07, PFG Fidelity Institutional AM Core Plus Bond Strategy Fund had net inflows of $4.14M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-07 | $458.62K |
| 2026-06 | $2.24M |
| 2026-05 | −$572.71K |
| 2026-04 | −$2.27M |
| 2026-03 | −$66.03K |
| 2026-02 | $816.94K |
PFFBX Debt Constituents
No individual debt constituents are reported in PFG Fidelity Institutional AM Core Plus Bond Strategy Fund's latest SEC N-PORT filing.
PFFBX Prospectus and SEC Filings
Official PFG Fidelity Institutional AM Core Plus Bond Strategy Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-08-25
- Prospectus (485BPOS) — filed 2025-08-26
- Prospectus supplement (497) — filed 2025-02-28
- Portfolio holdings (N-PORT) — filed 2026-09-28
- Portfolio holdings (N-PORT) — filed 2026-06-26
- Portfolio holdings (N-PORT) — filed 2026-03-30
- Annual census (N-CEN) — filed 2025-07-14
- Annual census (N-CEN) — filed 2024-07-15
Related Funds
Other United States Multi-Cap / All-Cap Blend / Core Equity 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.