Some of the fund’s top holdings include FRN (floating-rate notes) of Apple (AAPL), JPMorgan Chase (JPM), Turquoise Hill Resources (TRQ), and Hewlett-Packard Enterprise (HPE) among others. An FRN is a debt instrument whose interest rate is tied to a benchmark such as the US Treasury bill rate or London Inter Bank Offered Rate. The fund is currently managed by Clifford Stanton from 361 Capital. The fund had a net expense ratio of 2.4% with a fund manager fee of 1.5%. A detailed study of the fund’s investment methodology and effect on the S&P 500 Index (VFINX) is given in this series.
In the next article, we’ll analyze the holdings of the AMFQX fund.
View more information: https://marketrealist.com/2016/01/structural-analysis-alternative-mutual-fund-amfqx/