For Financial Professionals in the US

JUCRX 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
$8.67
As of 05/26/2023

1-Day Change
-$0.01 (-0.11%)
As of 05/26/2023

YTD Return
1.79%
As of 05/26/2023

Overview

ABOUT THIS FUND

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.

PORTFOLIO MANAGEMENT

Jason England

Portfolio Manager

Industry since 1994. Joined Firm in 2017.

Daniel Siluk

Portfolio Manager

Industry since 2004. Joined Firm in 2015.

Dylan Bourke, CFA

Portfolio Manager

Industry since 2009. Joined Firm in 2015.

Performance

RETURNS (%) (As of 03/31/2023)
Absolute Return Income Opportunities Fund - Class R Shares FTSE 3-Month Treasury Bill Index
 
3M YTD 1YR 3YR 5YR Since Inception
(05/27/2014)
Absolute Return Income Opportunities Fund - Class R Shares 1.56 1.56 1.17 0.20 -0.01 0.28
FTSE 3-Month Treasury Bill Index 1.12 1.12 2.61 0.95 1.40 0.96
RETURNS (%) (As of 04/30/2023)
Absolute Return Income Opportunities Fund - Class R Shares FTSE 3-Month Treasury Bill Index
 
3M YTD 1YR 3YR 5YR Since Inception
(05/27/2014)
Absolute Return Income Opportunities Fund - Class R Shares 0.77 2.01 2.37 0.38 0.20 0.32
FTSE 3-Month Treasury Bill Index 1.15 1.52 2.99 1.06 1.45 1.00
Calendar Year Returns (%)
Absolute Return Income Opportunities Fund - Class R Shares FTSE 3-Month Treasury Bill Index
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Absolute Return Income Opportunities Fund - Class R Shares -2.09 -1.10 2.97 2.79 -4.64 1.71 4.50 -1.09 0.00 0.00
FTSE 3-Month Treasury Bill Index 1.50 0.05 0.58 2.25 1.86 0.84 0.27 0.03 0.03
GROWTH OF A HYPOTHETICAL INVESTMENT
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/2022)
CLASS R SHARES
Management Fees 0.65%
12b-1 Fees 0.50%
Other Expenses 1.20%
Total Gross Expenses 2.35%
Waivers -0.97%
Total Net Expenses 1.38%

Portfolio

Index represents the FTSE 3-Month Treasury Bill Index.

Top Holdings (As of 04/30/2023)
New Zealand Government Bond, 0.50%, 05/15/24
Macquarie Bank Ltd, 5.24%, 06/17/31
Bendigo & Adelaide Bank Ltd, 6.01%, 11/30/28
Heartland Australia Group Pty Ltd, 5.65%, 07/09/24
National Australia Bank Ltd, 5.49%, 11/18/31
Volkswagen Financial Services Australia Pty Ltd, 2.40%, 08/28/24
Athene Global Funding, 1.61%, 06/29/26
Westpac Banking Corp, 5.53%, 08/27/29
Liberty Financial Pty Ltd, 5.90%, 02/26/24
Vicinity Centres Trust, 4.00%, 04/26/27
Total 27.79
View full holdings
Portfolio Characteristics (As of 04/30/2023)
 
Number of Holdings
Debt Issues
79
Portfolio Turnover Rate
(1-year trailing)
34.81%
Weighted Average Maturity
(years)
3.20
Effective Duration
(years)
0.99
Yield to Worst
6.61%

Yield to Worst calculation excludes cash.

Sector Allocation % OF FUND % OF FUND (As of 04/30/2023)
Regional Allocation % OF FUND % OF FUND (As of 04/30/2023)
Developed vs Emerging Markets % OF FUND % OF FUND (As of 04/30/2023)
Maturity Breakdown of Fixed Income Holdings % OF FUND % OF FUND (As of 04/30/2023)
Credit Quality of Fixed Income Holdings % OF FUND % OF FUND (As of 04/30/2023)

Documents