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Salient Select Income C KIFCX

Analyst rating as of
NAV / 1-Day Return
20.42  /  0.64 %
Total Assets
333.2 Mil
Adj. Expense Ratio
2.050%
Expense Ratio
2.050%
Fee Level
High
Longest Manager Tenure
0.02 years
Category
Allocation--30% to 50% Equity
Investment Style
Small Value
Credit Quality / Interest Rate Sensitivity
Status
Open
TTM Yield
3.99%
Turnover
55%
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Morningstar’s Analysis

Will KIFCX outperform in future?

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

The Departure of a Veteran Manager Doesn’t Affect This Unattractive Fund’s Ratings

Senior Analyst

Analyst Note

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On April 30, 2021, Joel Beam, the lead manager of this fund since its 2001 inception, stepped down. He’ll remain with the fund’s advisor through July as a consultant, and intends to retire from the money management business. John Palmer, who joined the firm in 2013 and has served as an associate portfolio manager on the fund since 2019, will now lead the team and be the only named manager. The team has been quite small; analyst/trader David McGanney has been the only other member since the mid-2019 departure of two analysts. But the firm is now planning to add two analysts, one of whom has just been hired. The loss of the highly experienced Beam is mitigated to a degree by the expected growth of the team. But the team is still stretched given its mandate here as well as the task of managed Salient Global Real Estate, which largely has a distinct set of holdings. Thus, the fund’s People rating remains Below Average and it continues to earn a Morningstar Analyst Rating of Negative across its share classes.

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