RBNDX — Robinson Opportunistic Income Fund
Data updated: 2026-08-27
RBNDX — Robinson Opportunistic Income Fund. Alternative · $10.66M AUM · 3.10% expense ratio. Holdings, fees, performance and SEC filings.
RBNDX Fund Overview
RBNDX — Robinson Opportunistic Income Fund is a US mutual fund managed by Investment Managers Series Trust, categorised as Alternative. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Investment Managers Series Trust
- Category: Alternative
- Assets under management: $10.66M
- Ticker: RBNDX
- SEC CIK: 0001318342
- SEC series ID: S000052274
- Share class ID: C000190709
RBNDX Investment Objective and Strategy
Robinson Opportunistic Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Investment Managers Series Trust.
Investment objective
The investment objective of the Robinson Opportunistic Income Fund (the Fund) is to seek total return with an emphasis on providing current income.
Principal investment strategy
Under normal market conditions, the Fund pursues its investment objective by investing primarily in publicly traded closed -end registered investment companies (closed -end funds or CEFs) which are income -producing securities due to the CEFs underlying holdings, such as senior bank loans, corporate bonds and preferred/convertible equities which generate income. In addition, when, in the opinion of Robinson Capital Management, LLC (Robinson or the Sub -Advisor ), the Funds sub -advisor , the risk/reward profile for CEF securities appears unfavorable, or when CEF price valuations are not attractive, the Fund may purchase shares of open -end registered investment companies (Mutual Funds) or exchange -traded funds (ETFs) that invest primarily in income -producing securities, or exchange -traded notes (ETNs).
ETNs are unsecured debt securities issued by a bank that are linked to the total return of a market index. The Fund may also invest in ETNs, ETFs or Mutual Funds as placeholders for asset classes in which the Sub -Advisor seeks to invest but has yet to identify attractive CEFs. The CEFs, ETFs and Mutual Funds in which the Fund invests invest primarily in below investment grade securities (also referred to as junk bonds), with an average rating of B+ to BB by Standard & Poors or B1 to Ba2 by Moodys. The Fund does not require a minimum or maximum average maturity for the underlying holdings in the CEFs, ETFs or Mutual Funds in which the Fund invests. The ETNs in which the Fund may invest will primarily provide exposure to indices or asset classes in which the Fund would otherwise invest through CEFs, ETFs or Mutual Funds.
To enhance the portfolios total return, the Fund may also invest in Special Purpose Acquisition Companies (SPACs) which, in the opinion of the Sub -Advisor , are trading at a discount to intrinsic value. SPACs are collective investment structures that pool funds in order to seek potential acquisition or merger opportunities, typically acquisitions of private companies. The Fund expects to invest in SPACs prior to announced mergers or acquisitions, as applicable. Although the size of the Funds total investments in SPACs will fluctuate based on market conditions and the views of the Sub -Advisor , the Fund generally does not intend to invest more than 45% of its net assets in SPACs. The Fund may invest in stock, warrants, and other securities of SPACs or similar special purpose entities. In addition, the Fund will implement tactical trading strategies, as described further below, to attempt to enhance the portfolios total return or to mitigate against certain risks.
The Fund may utilize carefully weighted long and short ETFs, ETNs, options, futures and credit default swap positions to attempt to mitigate against equity, interest rate, credit, currency and volatility risks. Certain of the Funds investments including options, futures and short sales, will give rise for a form of leverage. In addition, the CEFs, Mutual Funds and ETFs in which the Fund invests may be leveraged as a result of borrowing or other investment techniques. The Sub -Advisor s portfolio construction process involves using proprietary real -time models to first analyze and rank potential investments to build expected return and risk profiles. The Sub -Advisor then uses value oriented analysis to weigh the costs and benefits of the potential investments, and quantify the potential investments exposure to various risks.
The Sub -Advisor seeks to select CEFs that trade at discounts to the true market values of the CEFs underlying holdings by identifying quantifiable (or rational) factors that could contribute to a deviation between a CEFs market capitalization (i.e., the aggregate market price of its total outstanding shares) and the true market value of the assets the CEF holds. Such factors include the CEFs historical performance, fund expenses, dividend distribution yield, unrealized capital gains, investor trading to harvest short term losses, cost and use of leverage, liquidity, and governance. The Sub -Advisor s proprietary valuation model seeks to quantify each of these factors and adds them to (or if the factors have a negative impact, subtracts them from) a CEFs underlying market value. The resulting valuation is what the Sub -Advisor considers the fair market value for the CEF.
The calculated fair market value per fund share is then compared to the actual price at which the CEFs shares are currently trading. The Sub -Advisor believes that any difference can be attributed to irrational explanations. If the Sub -Advisor s determination of a CEFs fair market value is greater than the CEFs actual market price, the Sub -Advisor considers the difference to be the CEFs discount. Conversely, if the Sub -Advisor s determination of a CEFs fair market value is lower than the actual market price, the Sub -Advisor considers the difference to be the CEFs premium. The Sub -Advisor then analyzes the data according to its own proprietary model to determine a rating of the discount or premium. The analysis includes how under/overvalued a CEF is relative to its history, how under/overvalued a CEF is relative to other CEFs in the same asset class, how under/overvalued the asset class is relative to its history, and how under/overvalued the asset class is to other asset classes.
The Sub -Advisor may utilize a number of tactical trading strategies to seek to unlock its estimate of the value of the premiums/discounts in the CEFs. The Sub -Advisor s tactical trading strategies include rotating Fund portfolio holdings to the CEFs the Sub -Advisor believes are the most undervalued, short selling those CEFs that the Sub -Advisor believes are the most overvalued, opportunistic trading due to temporary price dislocations, participating in tender offers of CEF shares, arbitrage opportunities for CEF mergers, buying a CEF that the Sub -Advisor believes is undervalued and pairing it with a short position in another CEF, and tax -related rebalancing trades. With regard to SPACs, the Sub -Advisor expects to focus on the common equity of SPACs that are trading at a discount, or below the Sub -Advisor s calculated intrinsic value.
The Sub -Advisor uses a proprietary model to analyze and rank SPACs. Factors considered include the historic performance of the SPAC management team, targeted industries for an acquisition, time remaining to complete a transaction, and value of the SPACs warrants, which are typically attached to the SPAC. The Sub -Advisor expects to engage in opportunistic trading of SPACs to take advantage of temporary price dislocations. The Sub -Advisor may invest Fund assets in long positions in ETNs, ETFs or Mutual Funds when in its opinion, CEF price valuations are not attractive, the risk/reward profile for CEFs appears unfavorable, or as placeholders for asset classes in which the Sub -Advisor seeks to invest but has yet to identify attractive CEFs. The Fund will invest in those ETFs, Mutual Funds, and/or ETNs that the Sub -Advisor believes offer the most attractive diversification and liquidity characteristics for the asset class.
The analysis of ETNs requires additional credit analysis to assure the solvency of the issuer. To attempt to hedge against equity, interest rate, credit, currency and volatility risks, the Sub -Advisor may seek opportunities arising from what it believes are distortions in the relative valuations of equity, debt and convertible securities. Individual asset classes may become over- or under -valued relative to other asset classes over time. To execute this strategy, the Fund may buy one class of securities, while taking a short position in another class of securities. The Fund may utilize carefully weighted long and short ETFs, ETNs, options, futures and credit default swap positions in connection with this strategy.
RBNDX Holdings
Top 10 holdings of Robinson Opportunistic Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Flaherty & Crumrine Preferred | 5.97% |
| FS Credit Opportunities Corp | 5.62% |
| FS Specialty Lending Fund | 5.56% |
| DoubleLine Yield Opportunities | 5.52% |
| Western Asset Global High Inco | 5.50% |
| KKR Income Opportunities Fund | 5.47% |
| Western Asset High Income Fund | 5.45% |
| BlackRock Multi-Sector Income | 5.43% |
| Western Asset Inflation-Linked | 5.40% |
| Western Asset Mortgage Opportu | 5.37% |
RBNDX Portfolio Allocation
Asset-class allocation of Robinson Opportunistic Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Other | 92.1% |
| Equity | 4.6% |
| Cash & Equivalents | 1.4% |
| Derivatives | 0.1% |
RBNDX Performance
Total returns for RBNDX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -0.9% |
| 1 year | 1.9% |
| 3 years (annualised) | 9.5% |
| 5 years (annualised) | 5.5% |
RBNDX Risk Information
Risk metrics for RBNDX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.2%
RBNDX Costs and Fees
RBNDX costs about $310 per $10,000 invested per year in fund expenses.
- Net expense ratio: 3.10%
- Gross expense ratio: 4.86%
- Portfolio turnover: 66%
- Brokerage commissions: 29.11 bps of average net assets (SEC N-CEN)
RBNDX Cashflows
Over the 12 months to 2026-06, Robinson Opportunistic Income Fund had net inflows of $618.09K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $104.26K |
| 2026-05 | −$86.59K |
| 2026-04 | $82.67K |
| 2026-03 | −$217.96K |
| 2026-02 | $92.05K |
| 2026-01 | −$1.24M |
RBNDX Debt Constituents
No individual debt constituents are reported in Robinson Opportunistic Income Fund's latest SEC N-PORT filing.
RBNDX Prospectus and SEC Filings
Official Robinson Opportunistic Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-29
- Prospectus (485BPOS) — filed 2025-04-29
- Prospectus (485BPOS) — filed 2024-04-29
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-21
- Portfolio holdings (N-PORT) — filed 2026-02-24
- Annual census (N-CEN) — filed 2026-03-11
- Annual census (N-CEN) — filed 2025-03-13
Related Funds
Other Alternative 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.