SURFX — Hawaii Municipal Fund
Data updated: 2023-12-01
SURFX — Hawaii Municipal Fund. Municipal - National Bond · $126.80M AUM · 0.95% expense ratio. Holdings, fees, performance and SEC filings.
SURFX Fund Overview
SURFX — Hawaii Municipal Fund is a US mutual fund managed by Lee Financial Mutual Fund, Inc., categorised as Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Lee Financial Mutual Fund, Inc.
- Category: Municipal - National Bond
- Assets under management: $126.80M
- 1-year return: -0.3%
- Ticker: SURFX
- SEC CIK: 0000837351
- SEC series ID: S000004837
- Share class ID: C000013095
SURFX Investment Objective and Strategy
Hawaii Municipal Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Lee Financial Mutual Fund, Inc..
Investment objective
The investment objective of the Hawaii Municipal Fund (the Fund), a series of Lee Financial Mutual Fund, Inc. (Company), is to provide a high level of current income exempt from federal and Hawaii state income taxes, consistent with preservation of capital and prudent investment management.
Principal investment strategy
Under normal circumstances, the Fund will invest at least 80% of its net assets, including borrowings for investment purposes, in a portfolio of primarily investment grade municipal securities issued by or on behalf of the State of Hawaii or any of its political subdivisions or agencies that pay interest that is exempt from regular federal and State of Hawaii income tax. The Fund's dollar-weighted average portfolio maturity is expected to be 10 years or more. More than 25% of the Funds assets may be invested in a particular segment of the municipal securities market. The Investment Manager attempts to select securities that it believes will provide the best balance between risk and return within the Funds range of allowable investments. The Fund purchases municipal securities that the Investment Manager believes have the best value compared to securities of similar credit quality and maturity range.
The Fund generally sells municipal securities for a number of reasons, including a change in credit quality, to extend or shorten maturity, to increase yield or to raise funds to cover redemptions.
SURFX Performance
Total returns for SURFX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -0.3% |
| 3 years (annualised) | -3.3% |
SURFX Risk Information
Risk metrics for SURFX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.9%
SURFX Costs and Fees
SURFX costs about $95 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.95%
- Gross expense ratio: 0.95%
- Portfolio turnover: 9%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
SURFX Cashflows
Over the 12 months to 2023-09, Hawaii Municipal Fund had net inflows of $19.37M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-09 | $2.26M |
| 2023-08 | $2.18M |
| 2023-07 | $619.17K |
| 2023-06 | $1.17M |
| 2023-05 | $951.36K |
| 2023-04 | $2.82M |
SURFX Debt Constituents
No individual debt constituents are reported in Hawaii Municipal Fund's latest SEC N-PORT filing.
SURFX Prospectus and SEC Filings
Official Hawaii Municipal Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-01-27
- Prospectus (485BPOS) — filed 2022-01-28
- Prospectus (485BPOS) — filed 2021-02-16
- Portfolio holdings (N-PORT) — filed 2023-11-15
- Portfolio holdings (N-PORT) — filed 2023-08-07
- Portfolio holdings (N-PORT) — filed 2023-05-16
- Annual census (N-CEN) — filed 2023-12-01
- Annual census (N-CEN) — filed 2022-12-09
Related Funds
Other Municipal - National 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.