NEW YORK, Jan. 7, 2020 /PRNewswire/ -- Semper Capital Management, a privately owned New York-based boutique fixed-income investment manager, today announced that the Semper Short Duration Fund (SEMIX, SEMRX) (the "Fund") has surpassed $500 million in assets under management as a result of strong performance and investor demand since inception in December 2010. The Fund has a 5-Star Overall Morningstar Rating™ out of 161 ultrashort bond funds as of December 31, 2019.
The Fund's primary objective is to provide a high level of current income while maintaining a focus on preservation of capital. The Fund employs an ultrashort fixed income strategy offering low correlation to short and core fixed income, with current yield, low interest rate sensitivity, and seeking to limit downside volatility. Institutional and investor classes are available for purchase directly through Semper and on most major broker dealer platforms.
Greg Parsons, Chief Executive Officer and Chairman of the Investment Committee, said, "We are pleased with the growth of this product, which reflects Semper's deep focus on securitized debt including MBS and ABS and a proven track record of managing an ultrashort bond fund strategy, which invests in securities with low interest rate sensitivity, attractive yield, and low correlation to most other assets. We believe these characteristics are an attractive source of diversification in today's uncertain environment."
Tom Mandel, Co-Founder and Chief Investment Officer, added, "As interest rates and corporate credit increasingly become sources of volatility and risk, we believe that the profiles of the securities that we invest in, coupled with the overall characteristics of the Fund, position the Semper Short Duration Fund to perform well in this environment."
The Fund's performance as of December 31, 2019, net of expenses, for the Institutional Share Class (performance for time periods over one year are annualized):
Three Years (1/1/17 – 12/31/19) 2.98%
One Year (1/1/19 – 12/31/19) 3.60%
Since Inception (12/23/10) through (12/31/19) 2.61%
Gross Expense Ratio: 0.83%. Net Expense Ratio: 0.61%
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end as well as statutory and summary prospectuses may be obtained by visiting www.semperfunds.com. The adviser has contractually agreed to reduce and/or reimburse fees and expenses to limit total operating expenses, excluding acquired fund fees and expenses, interest, taxes, interest and dividends on securities sold short and extraordinary expenses, to 0.60% for SEMIX and 0.85% for SEMRX, at least through March 29, 2020. The net expense is what the investor would pay.
About Semper Capital Management, L.P.
Semper Capital is an independent investment management firm specializing in mortgage securities and other asset-backed investments. Semper Capital also manages the Semper MBS Total Return Fund, a $2.3 billion mutual fund as of 12/31/19 that focuses on mortgage-backed securities (MBS) including non-agency (tickers: SEMMX, SEMPX, SEMOX). Semper Capital is MBE certified and has been a registered investment advisor since 1992. For more information about the Firm and the Fund, including how to invest, visit www.semperfunds.com.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history, without adjustment for sales loads. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating™ for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating™ metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. As of 12/31/19 the Semper Short Duration Fund (SEMIX) received a 5-Star 3-Year Morningstar Rating™ among 161 Ultrashort Bond funds and a 5-Star 5-Year Morningstar Rating™ among 127 Ultrashort Bond funds. ©2019 Morningstar, Inc. All Rights Reserved. The information contained herein (1) is proprietary to Morningstar (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. ABS: Asset-Backed Securities. MBS: Mortgage-Backed Security. Diversification does not guarantee a profit or protect from loss in a declining market.
The Fund's objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it must be obtained by calling 855-736-7799 or visiting wwwsemperfunds.com. Read it carefully before investing.
Mutual fund investing involves risk. Principal loss is possible. Investments in the Semper MBS Total Return Fund include risks associated with investments in fixed income securities, high yield, mortgage-backed securities, liquidity, derivatives, leverage, TBA securities, short sale and when-issued securities. See the prospectus for additional information about the risks of investing in the Fund.
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SOURCE Semper Capital Management, L.P.
