SRTTX — Series T
Data updated: 2020-05-29
SRTTX — Series T. Bond · $57.73M AUM · 0.00% expense ratio. Holdings, fees, performance and SEC filings.
SRTTX Fund Overview
SRTTX — Series T is a US mutual fund managed by Sma Relationship Trust, categorised as Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Sma Relationship Trust
- Category: Bond
- Assets under management: $57.73M
- Ticker: SRTTX
- SEC CIK: 0001225290
- SEC series ID: S000002664
- Share class ID: C000007299
SRTTX Investment Objective and Strategy
Series T describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Sma Relationship Trust.
Investment objective
Maximize total return, consisting of income and capital appreciation.
Principal investment strategy
"Principal investments The Fund is designed to augment the overall asset class exposure of individual securities held in a managed account by investing in securities and financial instruments to gain exposure to certain sectors of the fixed income market. The Fund may invest directly in such securities and financial instruments and/or indirectly in such securities and financial instruments by investing in shares of the open-end investment companies advised by UBS AM (""Underlying Funds""). The Fund does not pay fees in connection with its investment in the Underlying Funds, but may pay expenses associated with such investments. Investments by the Fund or Underlying Funds in fixed income securities may include, but are not limited to, corporate debt securities of US and non-US issuers, debt securities of the US government, its agencies and instrumentalities, obligations of international governments or supranational entities, their agencies and instrumentalities, inflation protected securities and convertible securities.
While the Fund invests primarily in corporate debt securities, it may also invest in mortgage-backed (including commercial and residential mortgage-backed securities) and asset-backed securities, and other securitized and structured securities. These securities can be of any maturity, but generally will have an initial maturity of more than one year. The Fund may invest in non-dollar denominated debt securities. The Fund generally invests in investment grade securities or Underlying Funds that invest in investment grade securities. The Fund may also invest up to 40% of its net assets in any combination of non-investment grade, high yield (lower-rated or ""junk bonds"") securities and emerging markets fixed income securities (or Underlying Funds that invest in such securities), provided that no more than 20% of its net assets may be invested in developed market high yield securities and no more than 20% of its net assets may be invested in emerging market securities.
In addition, the Fund may invest in cash or cash equivalent instruments, including shares of an affiliated investment company. The Fund or an Underlying Fund may, but is not required to, use exchange-traded or over-the-counter (""OTC"") derivative instruments for risk management purposes or as part of its investment strategies. Generally, derivatives are financial contracts whose value depends upon, or is derived from, the value of an underlying asset, reference rate, index, or other market factor, and may relate to stocks, bonds, interest rates, credit, currencies or currency exchange rates, commodities and related indices. The derivatives in which the Fund or an Underlying Fund may invest include options (including, options on futures, forwards and swap agreements), futures, forward agreements, swap agreements (including, interest rate, total return, currency, credit default and inflation swaps), credit-linked securities and structured investments.
All of these derivatives may be used for risk management purposes, such as hedging against a specific security or currency, or to manage or adjust the risk profile of the Fund or the Underlying Fund. In addition, all of the derivative instruments listed above may be used for investment (non-hedging) purposes to earn income; to enhance returns; to replace more traditional direct investments; to obtain exposure to certain markets; to establish net short positions for individual sectors, markets, currencies or securities; or to adjust the Fund's or an Underlying Fund's portfolio duration. The Fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies. Management process The Advisor's investment style is focused on investment fundamentals, which the Advisor believes determine and describe future cash flows that define long term investment value.
To implement this style, the Advisor purchases securities for the Fund or an Underlying Fund by using active asset allocation strategies across fixed income markets and active security selection within each market. In analyzing the relative attractiveness of sectors and securities, the Advisor considers duration; yield; potential for capital appreciation; current credit quality as well as possible credit upgrades or downgrades; narrowing or widening of spreads between sectors, securities of different credit qualities or securities of different maturities; and, for mortgage-related and asset-backed securities, anticipated changes in average prepayment rates. The Advisor emphasizes those fixed income market sectors, and selects those securities that appear to be most undervalued relative to their yields and potential risks."
SRTTX Costs and Fees
SRTTX costs about $0 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.00%
- Gross expense ratio: 0.00%
- Portfolio turnover: 55%
- Brokerage commissions: 0.11 bps of average net assets (SEC N-CEN)
SRTTX Cashflows
Over the 12 months to 2020-03, Series T had net outflows of $6.29M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-03 | −$8.84M |
| 2020-02 | −$400.88K |
| 2020-01 | $7.58M |
| 2019-12 | $732.05K |
| 2019-11 | −$4.84M |
| 2019-10 | −$2.05M |
SRTTX Debt Constituents
No individual debt constituents are reported in Series T's latest SEC N-PORT filing.
SRTTX Prospectus and SEC Filings
Official Series T filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2019-05-17
- Prospectus (485BPOS) — filed 2018-05-21
- Prospectus (485BPOS) — filed 2017-05-18
- Portfolio holdings (N-PORT) — filed 2020-05-29
- Portfolio holdings (N-PORT) — filed 2020-02-19
- Portfolio holdings (N-PORT) — filed 2019-11-27
- Annual census (N-CEN) — filed 2020-03-12
- Annual census (N-CEN) — filed 2019-03-18
Related Funds
Other Bond 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.