JUCIX Absolute Return Income Opportunities Fund

An absolute return strategy that takes advantage of flexibility to express high-conviction active views through a macro lens

NAV
$8.95
As of 01/21/2020

1-Day Change
$0.01 (0.12%)
As of 01/21/2020

YTD Return
0.58%
As of 01/21/2020

Overview

CLIENT COMMITMENT

This benchmark-agnostic fund has the flexibility to invest across global fixed income markets. The Fund has latitude to act on high-conviction ideas and seeks to achieve positive absolute returns in a variety of market environments.

WHY INVEST IN THE PORTFOLIO

Experienced Investors
The investment team focuses on managing strategies with absolute return targets and an emphasis on capital preservation. The team has managed unconstrained, absolute return portfolios through marked periods of extreme volatility and stress.

Investment Flexibility
The Fund invests broadly across global fixed income markets and is not constrained by benchmark-specific guidelines. This latitude allows us to fully express our high-conviction, active views and potentially avoid benchmark biases.

Uncorrelated Sources of Return
This bond fund seeks to provide positive long-term returns through a combination of top-down and bottom-up investing. The result is a predominantly investment grade, absolute return-oriented global credit portfolio that is intended to provide diversification from traditional and non-traditional asset classes.

SEEKING OPPORTUNITY OUTSIDE OF THE ORDINARY

Absolute Return Income Opportunities Fund

Hypothetical examples are for illustrative purposes only and do not represent the returns of any particular investment.
Differences between compared investments may include objectives, sales and management fees, liquidity, volatility, tax features and other features, which may result in differences in performance.

PORTFOLIO MANAGEMENT

Nick Maroutsos

Co-Head of Global Bonds | Portfolio Manager

Industry since 1999. Joined Firm in 2015.

Jason England

Portfolio Manager

Industry since 1994. Joined Firm in 2017.

Performance

RETURNS (%) (As of 12/31/2019)
Absolute Return Income Opportunities Fund - Class I Shares FTSE 3-Month Treasury Bill Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/27/2014)
Absolute Return Income Opportunities Fund - Class I Shares 0.60 3.37 3.37 0.59 1.30 - 0.91
FTSE 3-Month Treasury Bill Index 0.46 2.25 2.25 1.65 1.05 0.56 0.94
RETURNS (%) (As of 12/31/2019)
Absolute Return Income Opportunities Fund - Class I Shares FTSE 3-Month Treasury Bill Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(05/27/2014)
Absolute Return Income Opportunities Fund - Class I Shares 0.60 3.37 3.37 0.59 1.30 - 0.91
FTSE 3-Month Treasury Bill Index 0.46 2.25 2.25 1.65 1.05 0.56 0.94
CALENDAR YEAR RETURNS (%)
Absolute Return Income Opportunities Fund - Class I Shares FTSE 3-Month Treasury Bill Index
 
  2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Absolute Return Income Opportunities Fund - Class I Shares - - - - - - -0.43 5.26 2.43 -3.88
FTSE 3-Month Treasury Bill Index - - - - - - 0.03 0.27 0.84 1.86
GROWTH OF A HYPOTHETICAL INVESTMENT
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/2019)
CLASS I SHARES
Management Fees 0.64%
12b-1 Fees -
Other Expenses 0.16%
Total Gross Expenses 0.80%
Waivers -0.08%
Total Net Expenses 0.72%

Portfolio

Index represents the FTSE 3-Month Treasury Bill Index.

Top Holdings (As of 12/31/2019)
% of Fund
RedZed Trust Series 2018-1 (Long), 3.23%, 03/09/50 -
Pepper I-Prime 2018-1 Trust (Long), 2.51%, 11/23/49 -
La Trobe Financial Capital Markets Trust 2017-2 (Long), 3.23%, 01/12/49 -
Liberty Series 2018-1 SME (Long), 2.29%, 07/10/50 -
La Trobe Financial Capital Markets Trust 2017-2 (Long), 2.73%, 01/12/49 -
Sydney Airport Finance Co Pty Ltd (Long), 3.62%, 04/28/26 -
Volkswagen Financial Services Australia Pty Ltd (Long), 3.30%, 02/28/22 -
CNOOC Curtis Funding No 1 Pty Ltd (Long), 4.50%, 10/03/23 -
Sinopec Capital 2013 Ltd (Long), 3.12%, 04/24/23 -
Lloyds Banking Group PLC (Long), 3.90%, 11/23/23 -
View full holdings
Portfolio Characteristics (As of 12/31/2019)
 
Number of Holdings
Debt Issues
55
Portfolio Turnover Rate
(1-year trailing)
-
Weighted Average Maturity
(years)
4.30
Effective Duration
(years)
1.81

Sector Allocation % OF FUND % OF FUND (As of 12/31/2019)
Fixed Income 101.81
Currency -1.87
Cash & Equivalents 0.05
Regional Allocations % OF FUND % OF FUND (As of 12/31/2019)
Asia/Pacific Ex Japan 88.35
Europe 6.53
North America 6.48
Supranational 0.45
Currency -1.87
Cash & Equivalents 0.05
Developed VS Emerging Markets % OF FUND % OF FUND (As of 12/31/2019)
Non-U.S. Developed 80.13
Non-U.S. Emerging 14.75
U.S. 6.48
Other 0.45
Currency -1.87
Cash & Equivalents 0.05
MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS % OF FUND % OF FUND (As of 12/31/2019)
< 1 yr 2.41
1 - 3 yrs 32.96
3 - 5 yrs 34.81
5 - 7 yrs 20.79
7 - 10 yrs 9.54
10 - 20 yrs 1.29
Other 0.02
Currency -1.87
Credit Quality of Fixed Income Holdings % OF FUND % OF FUND (As of 12/31/2019)
AA 4.03
A 19.11
AA 9.56
AAA 25.65
BBB 45.00
Currency -1.87
NOT RATED 2.50

Documents

TOP