The fund seeks to provide investors with total return, with a secondary investment objective of preserving capital. The fund will invest in a diversified portfolio of U.S. corporate investment grade* bonds, high yield bonds, and U.S. Government and Treasury securities.
They do all their own homework in the hunt for undervalued corporate bonds—those with low credit risk and wide spreads. Key to their credit analysis is an evaluation of free cash flow because companies who generate it well and allocate it wisely make the strongest case for enduring value.
At Dolan McEniry, they do their own research—no relying on Wall Street reports or ratings agencies. Their discovery and analysis process is clear, focused and efficient, carried out day after day in pursuit of exceptional returns year after year.
Their strategy keeps a clear eye on conservative investment fundamentals rather than following a herd mentality or chasing trends. They love a beaten down and out of favor company, as long as there is safety in its cash flows. They believe that over time, long-term lending is better than short-term trading.
Their singular focus has led a range of clients to trust them in managing their assets, from foundations and endowments to pension funds and wealthy families. Some of these relationships have lasted for years, even decades. Their clients have confidence that their strategic approach will balance risk and reward by focusing on value and investing intelligently.
Mr. Dolan founded Dolan McEniry in 1997, following a 16-year career in the financial services industry. Mr. Dolan previously worked with Morgan Stanley and Salomon Brothers. He received a B.A. from Lake Forest College in 1980. In addition to leading the firm’s business development and client service efforts, Mr. Dolan focuses on portfolio management, security selection, and securities trading.
Mr. McEniry joined Dolan McEniry as a partner in March 2001. Prior to joining the firm, he spent sixteen years with a Chicago private equity firm. Mr. McEniry graduated from Williams College with honors in 1978 and received an MBA from the University of Michigan in 1981. At Dolan McEniry, his focus is the analytical and strategic side of the firm; security selection, risk management, and credit analysis are under his leadership.
A member of the Dolan McEniry team since 1998, Mr. Schubert currently serves as the Managing Director of Portfolio Management and Trading. He received his Bachelor of Science degree in Finance from Michigan State University where he competed on the varsity tennis team and graduated with honors.
Mr. Degen joined Dolan McEniry as an Analyst in April 2012 and currently serves as a Senior Portfolio Manager. He graduated from Miami University in 2010 with a B.S. in Business and a major in Finance.
Mr. Greber joined Dolan McEniry as an Analyst in February 2015 and currently serves as a Portfolio Manager. He graduated from the University of Missouri in May 2014 with a B.S. in Business Administration and a major in Finance.
Mr. Dolan founded Dolan McEniry in 1997, following a 16-year career in the financial services industry. Mr. Dolan previously worked with Morgan Stanley and Salomon Brothers. He received a B.A. from Lake Forest College in 1980. In addition to leading the firm’s business development and client service efforts, Mr. Dolan focuses on portfolio management, security selection, and securities trading.
Mr. McEniry joined Dolan McEniry as a partner in March 2001. Prior to joining the firm, he spent sixteen years with a Chicago private equity firm. Mr. McEniry graduated from Williams College with honors in 1978 and received an MBA from the University of Michigan in 1981. At Dolan McEniry, his focus is the analytical and strategic side of the firm; security selection, risk management, and credit analysis are under his leadership.
A member of the Dolan McEniry team since 1998, Mr. Schubert currently serves as the Managing Director of Portfolio Management and Trading. He received his Bachelor of Science degree in Finance from Michigan State University where he competed on the varsity tennis team and graduated with honors.
Mr. Degen joined Dolan McEniry as an Analyst in April 2012 and currently serves as a Senior Portfolio Manager. He graduated from Miami University in 2010 with a B.S. in Business and a major in Finance.
Mr. Greber joined Dolan McEniry as an Analyst in February 2015 and currently serves as a Portfolio Manager. He graduated from the University of Missouri in May 2014 with a B.S. in Business Administration and a major in Finance.
Since 1997, the Chicago-based team of Dolan McEniry has provided excellent service to a full range of clients, from wealthy individuals to pension funds to corporations to sovereign nations. They have $7.8 billion in assets under management and have earned high industry rankings—along with our client’s trust.
The value of a hypothetical $10,000 investment in the iMGP Dolan McEniry Corporate Bond Fund compared with the Bloomberg US Interm Credit TR USD, Bloomberg US Agg Bond TR USD, and US Fund Corporate Bond.
The hypothetical $10,000 investment at fund inception includes changes due to share price and reinvestment of dividends and capital gains. The chart does not imply future performance. Indexes are unmanaged, do not incur fees, expenses or taxes, and cannot be invested in directly.
Performance quoted does not include a deduction for taxes that a shareholder would pay on the redemption of fund shares.
Select the set of performance tables to view.
*Institutional Class launch date is 9/28/2018. Advisor Class launch date is 5/17/2019. Benchmark Since Inception is as of the Institutional Class Inception date.
Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 888-898-1041.
Performance shown prior to the inception of the Advisor Shares reflects the performance of the Institutional Shares and excludes expenses that are not applicable to, and are lower than, those of Advisor Shares. The performance of the Advisor Shares will differ from that of the Institutional Shares due to differences in expenses.
Performance as of 09/20/2021 is that of the Predecessor Fund. All of the assets and liabilities of the Predecessor Fund were transferred to the Fund in a reorganization on 09/20/2021.
Performance for periods greater than one year are annualized.
Bloomberg Barclays U. S. Aggregate Index:
The Index is a broad-based flagship benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. The Index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate and hybrid ARM pass-throughs), ABS, and CMBS (agency and non-agency).
Bloomberg Barclays U.S. Intermediate Credit:
The Index is the intermediate component of the Bloomberg Barclays U.S. Credit Index. The Bloomberg Barclays U.S. Credit Index measures the investment grade, US dollar-denominated, fixed-rate, taxable, corporate and government – related bond markets. It is composed of the US Corporate Index and a non-corporate component that includes foreign agencies, sovereigns, supranationals, and local authorities.
Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced. The gross and net expense ratios can be found in the most recent Summary Prospectus (4/30/2023). There are contractual fee waivers in effect through 4/30/2024.
Fund holdings and/or sector allocations are subject to change at any time and are not recommendations to buy or sell any security.
During the quarter, the Fund outperformed the Bloomberg U.S. Credit Intermediate Index by 17 basis points. The Fund’s outperformance was driven by the Fund’s overexposure to and outperformance in both the corporate investment grade and high yield MORE
The iMGP Dolan McEniry Corporate Bond Fund outperformed the Bloomberg U.S. Credit Intermediate Index by 29 basis points. The Fund’s outperformance was driven by security selection in the corporate investment grade sector. The yield curve positionin MORE
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The Fund’s investment objectives, risks charges and expenses must be considered carefully before investing. The statutory and summary prospectuses contains this and other important information about the investment company, and it may be obtained by calling 800-960-0188. Read it carefully before investing.
Mutual fund investing involves risk. Principal loss is possible. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments by the Fund in lower-rated securities presents a greater risk of loss of principal and interest than higher-rated securities. Foreign securities are subject to risks relating to political, social, economic developments abroad and differences between U.S. and foreign regulatory requirements and market practices, including fluctuations in foreign currencies.
Credit Ratings are grades given to bonds that indicate their credit quality as determined by a Nationally Recognized Statistical Rating Organization (“NRSRO”) such as Standard and Poor’s, Moody’s, and Fitch. The firm evaluates a bond issuer’s financial strength, or its ability to pay a bond’s principal and interest in a timely fashion. Ratings are expressed as letters ranging from ‘AAA’, which is the highest grade, to ‘D’, which is the lowest grade. If NRSRO ratings differ, the security will be considered to have received the highest of those ratings. For securities rated by an NRSRO other than S&P, the Adviser converts that rating to the equivalent S&P rating. Securities not rated by an NRSRO appear in the “Not Rated/Unavailable” category. Ratings are subject to change.”
Diversification does not guarantee a profit or protect from loss in a declining market.
i – The Morningstar Rating for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed products monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five, and 10-year (if applicable) Morningstar Rating metrics. The weights are 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10 year overall rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. iMGP Dolan McEniry Bond Fund was rated against the following numbers of US Corporate Bond funds over the following time periods as of 12/31/2023: 187 funds in the last three years. With respect to these Corporate Bond funds, iMGP Dolan McEniry Bond Fund (IDMIX) received a Morningstar Rating of 5 stars the three-year period.
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Index Definitions | Industry Terms and Definitions
The iMGP Dolan McEniry Corporate Bond Fund is distributed by ALPS Distributors, Inc.