TCUGX — Enhanced Income Intermediate Duration Credit Portfolio
Data updated: 2023-04-25
TCUGX — Enhanced Income Intermediate Duration Credit Portfolio. Intermediate Bond · $28.32M AUM. Holdings, fees, performance and SEC filings.
TCUGX Fund Overview
TCUGX — Enhanced Income Intermediate Duration Credit Portfolio is a US mutual fund managed by Trust for Credit Unions, categorised as Intermediate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Trust for Credit Unions
- Category: Intermediate Bond
- Assets under management: $28.32M
- Ticker: TCUGX
- SEC CIK: 0000825759
- SEC series ID: S000074161
- Share class ID: C000231745
TCUGX Investment Objective and Strategy
Enhanced Income Intermediate Duration Credit Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Trust for Credit Unions.
Investment objective
The Enhanced Income Intermediate Duration Credit Portfolio seeks to achieve a high level of total return and income.
Principal investment strategy
The Portfolio is designed as an investment option for federal credit unions investing in charitable donation accounts pursuant to Part 721.3(b)(2) of the National Credit Union Administration (NCUA) rules and regulations and pre-funded employee benefits pursuant to Part 701.19 of the NCUA Rules and Regulations. In seeking to achieve its investment objective, the Portfolio will invest in fixed income investments. The Portfolio employs an actively managed fixed income portfolio, targeting a duration range between three and ten years, and invests primarily in investment-grade corporate bonds. Duration is a measure of the price sensitivity of a debt security or a portfolio of debt securities to a change in interest rates. For instance, a duration of three means that a securitys price would be expected to decrease by approximately 3% with a 1% increase in interest rates.
The Portfolio may also use derivative instruments for hedging or exposure purposes. The Portfolio will invest, under normal circumstances, at least 80% of its net assets in bonds and other fixed-income securities. These may include: Obligations of domestic and foreign banks and corporations; Obligations of the U.S. Government or its agencies, instrumentalities or sponsored enterprises, including obligations issued by private issuers that are guaranteed as to principal and interest by the U.S. government, its agencies or instrumentalities; Obligations of state, local and foreign governments Zero coupon bonds, debentures, preferred stock and convertible securities; Mortgage and other asset-backed securities; Stripped securities evidencing ownership of future interest or principal payments on debt obligations; and Repurchase agreements relating to the above instruments.
The Portfolio invests primarily in investment grade debt obligations of domestic issuers. Investment grade debt obligations are obligations rated within the top four rating categories by a Nationally Recognized Statistical Rating Organization (NRSRO) or determined by the Investment Adviser to be of comparable quality. The Portfolio also may invest to a limited extent in U.S. dollar denominated investment grade obligations of foreign issuers. Portfolio Duration: The Portfolios target duration is between three and ten years. INVESTMENT ADVISORS INVESTMENT PHILOSOPHY: The Investment Adviser believes that community financial institutions should have access to a broad range of investment options to further their mission for their members and to better serve their employees. The Portfolio employs actively-managed fixed income arranged in targeted risk allocations, to provide growth potential with reduced volatility over the long term.
The Investment Advisers investment philosophy is focused on the long-term, and investment decisions are independent of the current levels of rates or expected rates. A better understanding of economic and market events help explain trends in market risk factors, and consequently, it can help the Investment Adviser better understand variations between estimated and actual risk and return.
TCUGX Costs and Fees
TCUGX costs about $44 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.44%
- Gross expense ratio: 0.52%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
TCUGX Cashflows
Over the 12 months to 2023-02, Enhanced Income Intermediate Duration Credit Portfolio had net inflows of $33.93M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-02 | $97.49K |
| 2023-01 | $2.60M |
| 2022-12 | $87.13K |
| 2022-11 | $89.61K |
| 2022-10 | $59.34K |
| 2022-09 | $31.00M |
TCUGX Debt Constituents
No individual debt constituents are reported in Enhanced Income Intermediate Duration Credit Portfolio's latest SEC N-PORT filing.
TCUGX Prospectus and SEC Filings
Official Enhanced Income Intermediate Duration Credit Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Intermediate 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.