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ASDAX • ASDCX • ASDIX
AAM/HIMCO Short Duration Fund
Objective
The Fund's investment objective is current income and long-term total return.
Morningstar Ratings as of March 31, 2024Class I Shares, Ultrashort Bond Universe, Based on Risk-Adjusted Returns
Morningstar Rating is for the Class I share class only; other classes may have different performance characteristics. Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results.
Why AAM/HIMCO Short Duration Fund?
Investment Approach
HIMCO's investment philosophy employs a balanced top-down, bottom-up approach to determine underlying relative value and identify market trends and global themes.
During periods of economic expansion and rising interest rates, it may be beneficial to have greater exposure to credit risk versus interest rate risk. Consequently, during periods of economic contraction and falling interest rates, having less exposure to credit risk versus interest rate risk may be beneficial.
Investment Process
HIMCO focuses on sector rotation, security selection and duration management, driven by the firm’s top-down view of the economy.
HIMCO’s Investment Strategy Committee utilizes top-down macro strategy views from the Portfolio Strategy Group, developed using a consistent quantitative framework, in conjunction with qualitative inputs from HIMCO’s sector teams.
The Fund employs a disciplined process for selecting the Fund’s investments:
All products shown above may not be available within your firm. Please consult your AAM Representative for more information.
View the AAM/HIMCO Short Duration Fund prospectus. The AAM Funds are distributed by IMST Distributors, LLC.
There is a 1.00% redemption fee imposed on shares if redeemed within 30 days of purchase.
Mutual fund investing involves risk, including the potential loss of principal. A significant percentage of the Fund’s assets may be below investment-grade securities (“high-yield securities” or “junk bonds”), which are rated lower because there is a greater possibility that the issuer may be unable to make its interest and principal payments, and involve risks beyond those inherent in solely higher-rated investments.
The Weighted Average Life of the fund is the average time to receipt of unpaid principal of each security weighted by its respective contribution to the total market value of the fund, including principal and accrued interest.
Laddered Portfolio is a portfolio of fixed income securities of varied maturity dates.
There can be no assurance that this objective will be met or that losses will be avoided. Diversification cannot assure against market loss.
Duration is a measure of the sensitivity of the price of a fixed income investment to changes in the general level of interest rates.
This Fund invests in bank loans, which carry credit risks of nonpayment of principal or interest and risks of bankruptcy, insolvency, illiquidity, prepayment, interest rate, recovery and valuation.
The Fund may invest in derivatives, such as options, futures and swaps, which carry different (and possibly greater) risks than direct investments in issuers, and are very dependent upon the sub-adviser’s judgment. In addition, investments in derivative instruments are subject to the risk that the counterparty in a transaction will be unable to honor its financial obligation to the Fund.
The Fund is subject to credit risk (the risk that the issuing company may not be able to pay interest and principal when due), interest rate risk (the risk that your investment may go down in value when interest rates rise), and risk of loss (the risk that you could lose money on your investment).
The Fund may invest in foreign securities, which can be riskier than investments in U.S. securities (risks may include currency risk, illiquidity risks, and risks from substantially lower trading volume on foreign markets). These risks are magnified in emerging markets.
This Fund is subject to liquidity risk because its investments may trade less frequently or are not readily marketable; this may adversely affect the Fund’s value or prevent the Fund from being able to meet cash obligations or take other investment opportunities.
The Fund invests in mortgage-backed, commercial mortgage-backed and asset-backed securities, which are subject to higher interest rate, extension and prepayment risk; the value of these investments may be reduced or become worthless if they are “subordinated” and receive interest or income payments only after other interests in the same mortgage or asset pool are satisfied.
Active trading may increase the Fund’s transaction costs, affect performance, and increase your taxable distributions.
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Literature
AAM Fund Family
1The Fund’s advisor has contractually agreed to waive certain fees/expenses until October 31, 2033 and may recoup previously waived expenses that it assumed during the previous three-year period.