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Morningstar

Absolute Flexible Instl FLXIX

Morningstar Medalist Rating
Medalist Rating as of | See Absolute Advisers Investment Hub
  • NAV / 1-Day Return 10.19  /  +0.20 %
  • Total Assets 27.0 Mil
  • Adj. Expense Ratio
    1.500%
  • Expense Ratio 1.500%
  • Distribution Fee Level High
  • Share Class Type Institutional
  • Category Convertibles
  • Investment Style —
  • Min. Initial Investment 25,000
  • Status Open
  • TTM Yield 4.79%
  • Turnover 21%

USD | NAV as of Apr 18, 2024 | 1-Day Return as of Apr 18, 2024, 10:16 PM GMT+0

Morningstar’s Analysis FLXIX

Will FLXIX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FLXIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FLXIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of FLXIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

The combination of an Average People Pillar rating and a Below Average Process Pillar rating limit Absolute Flexible Instl to a Morningstar Medalist Rating of Negative.

null Morningstar Manager Research

Morningstar Manager Research

Summary

Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the highest quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings FLXIX

More FLXIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 39.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Margin - Wells Fargo

13.04 3.4 Mil
Cash and Equivalents

First American Treasury Obligs X

12.51 3.3 Mil
Cash and Equivalents

Helix Energy Solutions Group, Inc. 6.75%

5.09 1.3 Mil
Corporate

Infinera Corporation 2.5%

4.46 1.2 Mil
Corporate

PetIQ Inc. 4%

4.09 1.1 Mil
Corporate

Accuray Inc. 3.75%

3.77 980,000
Corporate

Nextgen Healthcare Inc. 3.75%

3.74 974,500
Corporate

Bentley Systems Incorporated 0.375%

3.69 959,756
Corporate

Dropbox Inc

3.64 947,500
Corporate

Alteryx Inc 1%

3.57 929,500
Corporate