AlphaCentric’s Income Opportunities Fund (IOFIX) has been awarded a five-star rating by Morningstar. The Fund celebrated its three-year anniversary on 05/28/2018, and generated a 12.34 per cent return rate for the three-year period ending 31 May 2018.
This five-star rating is a reflection of IOFIX’s risk-adjusted performance for the period ending 31 May 2018, out of 258 funds in the Multisector Bond category. For three consecutive years, IOFIX has generated returns that significantly outperformed its Morningstar category. Additionally, IOFIX ranked at the top of its Morningstar category (as of 31 May 2018) with annualised returns double that of the next ranked fund.
“The risk/return profile we have sought to maintain for the AlphaCentric Income Opportunities Fund set the stage for strong performance, and the housing and macro fundamentals we identified have bolstered the portfolio’s metrics even further,” says Brian Loo, portfolio manager of IOFIX. “We are encouraged by ongoing prospects for the Fund’s returns, even as the broader markets start to pose different degrees of volatility.”
IOFIX seeks to generate current income via investments in structured products which include non-agency residential mortgage backed securities (RMBS) and a variety of asset-backed fixed income securities (ABS). These ABS investments encompass aircraft, shipping and transportation assets, as well as other sectors. The Fund’s security holdings generally have an average duration of less than five years.
The AlphaCentric Income Opportunities Fund trades under the tickers IOFIX, IOFAX and IOFCX. The Fund is sub-advised by Garrison Point Capital, LLC, and the portfolio is managed by an investment team with over 70 years of combined industry experience.