VMEIX — Advantus Managed Volatility Equity Fund
Data updated: 2021-01-13
VMEIX — Advantus Managed Volatility Equity Fund. Balanced Allocation · $23.23M AUM · 0.72% expense ratio. Holdings, fees, performance and SEC filings.
VMEIX Fund Overview
VMEIX — Advantus Managed Volatility Equity Fund is a US mutual fund managed by Managed Portfolio Series, categorised as Balanced Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Managed Portfolio Series
- Category: Balanced Allocation
- Assets under management: $23.23M
- Ticker: VMEIX
- SEC CIK: 0001511699
- SEC series ID: S000051033
- Share class ID: C000160786
VMEIX Investment Objective and Strategy
Advantus Managed Volatility Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Managed Portfolio Series.
Investment objective
The Advantus Managed Volatility Equity Fund (the Fund) seeks to maximize risk-adjusted returns relative to its blended benchmark index, comprised of 60% S&P 500 Low Volatility Index, 20% S&P BMI International Developed Low Volatility Index and 20% Bloomberg Barclays U.S. 3 Month Treasury Bellwether Index (the blended benchmark index is referred to as the Benchmark Index).
Principal investment strategy
The Fund seeks to achieve its investment objective by investing in other funds or directly in securities while using hedging techniques to manage portfolio risk and volatility. Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. The Fund may invest in equity securities of any market capitalization. Equity securities include those that are equity-based, such as exchange-traded funds (ETFs) that invest primarily in U.S. and foreign equity securities. Over time, the Fund will target an approximate 85% equity exposure and 15% cash or cash equivalent exposure. The Fund will generally seek to invest in ETFs whose underlying equity securities have prices that are less volatile than the equity markets as a whole.
As market conditions change, the Funds effective equity exposure will change in an effort to manage overall Fund volatility, with a minimum effective equity exposure of 10% and a maximum effective equity exposure of 100% of the Funds total asset value. The Fund will seek to manage its effective equity exposure and its overall volatility by investing primarily in S&P 500 futures contracts and other derivative instruments. In periods when the Funds Adviser expects higher volatility in the equity market, as measured by the S&P 500 , the Fund will seek to reduce its effective equity exposure and the overall volatility of its portfolio by either selling S&P 500 futures contracts (taking short positions in such contracts) or reducing its long positions in S&P 500 futures contracts.
In periods when the Funds investment adviser expects lower volatility in the equity market, the Fund will seek to increase its effective equity exposure by purchasing S&P 500 futures contracts (taking long positions in such contracts) or reducing its short positions in S&P 500 futures contracts. Under normal market conditions, this hedging process will seek to target, over an extended period of years, an average annualized volatility in the daily total returns of the Fund of approximately 10%. The use of S&P 500 , treasury and interest rate futures contracts and interest rate has the effect of introducing leverage into the Funds portfolio. Leverage is introduced because the initial amount required to purchase a futures contract is small in relation to the notional value of the contract.
Despite any use of leverage, under normal circumstances the Funds effective equity exposure is not expected to exceed 100% of its total asset value. In selecting investments, the Adviser considers factors such as, but not limited to, the Funds current and anticipated asset allocation positions, security pricing, industry outlook, current and anticipated interest rates, other market and economic conditions, and issuer operations. The Fund may also engage in frequent or short-term trading of securities and derivative instruments.
VMEIX Costs and Fees
VMEIX costs about $72 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.72%
- Gross expense ratio: 1.21%
- Portfolio turnover: 8%
- Brokerage commissions: 3.48 bps of average net assets (SEC N-CEN)
VMEIX Cashflows
Over the 12 months to 2020-11, Advantus Managed Volatility Equity Fund had net inflows of $23.79M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-11 | $1.74M |
| 2020-10 | $5.36M |
| 2020-09 | $1.42M |
| 2020-08 | $2.04M |
| 2020-07 | $1.38M |
| 2020-06 | $4.25M |
VMEIX Debt Constituents
No individual debt constituents are reported in Advantus Managed Volatility Equity Fund's latest SEC N-PORT filing.
VMEIX Prospectus and SEC Filings
Official Advantus Managed Volatility Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-01-10
- Prospectus (485BPOS) — filed 2019-01-02
- Prospectus supplement (497) — filed 2018-01-08
- Portfolio holdings (N-PORT) — filed 2021-01-13
- Portfolio holdings (N-PORT) — filed 2020-10-27
- Portfolio holdings (N-PORT) — filed 2020-07-23
- Annual census (N-CEN) — filed 2020-11-13
- Annual census (N-CEN) — filed 2019-11-14
Related Funds
Other Balanced Allocation 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.