SAFFX — Hedeker Strategic Appreciation Fund
Data updated: 2021-01-29
SAFFX — Hedeker Strategic Appreciation Fund. Money Market · $60.92M AUM · 1.42% expense ratio. Holdings, fees, performance and SEC filings.
SAFFX Fund Overview
SAFFX — Hedeker Strategic Appreciation Fund is a US mutual fund managed by Capitol Series Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Capitol Series Trust
- Category: Money Market
- Assets under management: $60.92M
- Ticker: SAFFX
- SEC CIK: 0001587551
- SEC series ID: S000055966
- Share class ID: C000176257
SAFFX Investment Objective and Strategy
Hedeker Strategic Appreciation Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Capitol Series Trust.
Investment objective
The investment objective of the Hedeker Strategic Appreciation Fund (the “Fund”) is to seek superior risk-adjusted returns over a market cycle.
Principal investment strategy
Under normal circumstances, the Fund seeks to invest its assets (plus borrowings for investment purposes) primarily in U.S. and foreign convertible securities. All such securities will generally be U.S. dollar denominated convertible securities. Convertible securities are hybrid securities that combine the investment characteristics of bonds and common stocks. Convertible securities include fixed-income securities and preferred stocks that are convertible into common stock, as well as fixed income securities with warrants or common stock attached. The Fund may also invest a significant portion of the Funds total assets in cash or cash equivalents, such as money market instruments, if the Adviser is unable to find attractive investment opportunities. The Fund is non-diversified and therefore may invest a greater percentage of its net assets in the securities of fewer issuers than a diversified Fund.
A majority of the Funds assets will be invested in convertible securities that have credit ratings that are below investment grade or are not rated. These types of securities are commonly referred to as junk bonds and are considered speculative investments. In addition, many of the convertible securities in which the Fund invests will be issued by small- or medium-sized companies located in foreign and emerging markets. The Adviser uses a combination of fundamental analysis and quantitative techniques to select convertible securities for the Fund that it considers to generate superior risk-adjusted returns. This means that the Adviser seeks to invest in convertible securities that generate a positive investment return over a market cycle while seeking to minimize the amount of risk that is involved in generating that profit.
The Adviser analyzes many factors in determining whether a convertible security possesses the potential for superior risk-adjusted returns, including, but not limited to: interest rates, the overall state of the economy, the issuers financial condition, the issuers earnings outlook, the issuers management team, the issuers industry position and strategy, the issuers credit rating, expected changes in the issuers credit rating, market activity, the issuers past prices, and the volume of the issuers past issuances. The Adviser invests predominantly in convertible securities possessing an attractive combination of conversion and income featurestrue hybrid securitiesand generally sells the securities when their characteristics become too similar to those of nonconvertible bonds or common stocks.
This means that the Adviser will generally sell convertible securities when they lose their bond protection (i.e., they are not at the money and trade like regular bonds) and when they lose their potential for equity appreciation (i.e., they are at the money and trade like regular stocks). The Fund may also invest in non-convertible securities such as U.S. and foreign common stocks and preferred stocks, exchange traded funds (ETFs), fixed income securities, U.S. government obligations, and Treasury securities.
SAFFX Costs and Fees
SAFFX costs about $142 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.42%
- Portfolio turnover: 121%
- Brokerage commissions: 0.20 bps of average net assets (SEC N-CEN)
SAFFX Cashflows
Over the 12 months to 2020-11, Hedeker Strategic Appreciation Fund had net outflows of $3.85M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-11 | −$195.62K |
| 2020-10 | −$192.03K |
| 2020-09 | $361.42K |
| 2020-08 | $251.91K |
| 2020-07 | −$1.54M |
| 2020-06 | −$185.06K |
SAFFX Debt Constituents
No individual debt constituents are reported in Hedeker Strategic Appreciation Fund's latest SEC N-PORT filing.
SAFFX Prospectus and SEC Filings
Official Hedeker Strategic Appreciation Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-01-17
- Prospectus (485BPOS) — filed 2019-02-19
- Prospectus (485BPOS) — filed 2018-01-17
- Portfolio holdings (N-PORT) — filed 2021-01-29
- Portfolio holdings (N-PORT) — filed 2020-10-26
- Portfolio holdings (N-PORT) — filed 2020-07-27
- Annual census (N-CEN) — filed 2020-11-16
- Annual census (N-CEN) — filed 2019-11-14
Related Funds
Other Money Market 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.