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Morningstar

Miller Convertible Bond A MCFAX

Morningstar Medalist Rating
Medalist Rating as of | See Miller Investment Hub
  • NAV / 1-Day Return 12.22  /  0.16 %
  • Total Assets 729.7 Mil
  • Adj. Expense Ratio
    1.480%
  • Expense Ratio 1.480%
  • Distribution Fee Level High
  • Share Class Type Front Load
  • Category Convertibles
  • Investment Style —
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 2.74%
  • Turnover 73%

USD | NAV as of Sep 29, 2023 | 1-Day Return as of Sep 29, 2023, 10:17 PM GMT+0

Morningstar’s Analysis MCFAX

Will MCFAX 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 MCFAX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the MCFAX 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 MCFAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Weakness in Miller Convertible Bond A's People and Process Pillar ratings limits this strategy 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 most expensive quintile among peers.

by Morningstar Manager Research
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Portfolio Holdings MCFAX

More MCFAX Holdings
  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 20
  • Other Holdings 62
  • % Assets in Top 10 Holdings 29.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

JPMorgan Chase Financial Company LLC 0%

3.04
23,630,000
Corporate

PetIQ Inc. 4%

3.04
23,590,953
Corporate

JetBlue Airways Corporation 0.5%

3.02
23,424,720
Corporate

Barclays Bank plc 0%

2.98
23,097,600
Corporate

Citigroup Global Markets Holdings Inc. 0%

2.97
23,062,600
Corporate

Jazz Investments I LTD 1.5%

2.96
23,007,240
Corporate

Ford Motor Company 0%

2.90
22,468,286
Corporate

Akamai Technologies, Inc. 0.375%

2.86
22,217,300
Corporate

The Greenbrier Companies, Inc. 2.875%

2.86
22,170,483
Corporate

Morgan Stanley Finance LLC. 0%

2.82
21,860,300
Corporate