Investment objective & strategy
As of Nov. 5, 2025 · prospectusObjective. The Fund?s investment objective is total return, which consists of current income and capital appreciation.
Strategy. Normally, the Fund invests primarily in a broad range of domestic and international, including emerging markets, fixed income and equity securities. These include debt securities, such as interest-paying bonds and convertible bonds, and equity securities, such as dividend-paying common stocks. The Fund may also invest in preferred stocks and write covered calls on equities. The composition of the Fund?s investments in equity, debt, and cash or money market instruments may vary substantially depending on various factors, including market conditions. Under normal circumstances, the Fund invests at least 25% of its assets in fixed income securities and at least 25% of its assets in equity securities. Fixed income securities include interest-paying bonds and convertible bonds. Equity securities include common stock, preferred … Normally, the Fund invests primarily in a broad range of domestic and international, including emerging markets, fixed income and equity securities. These include debt securities, such as interest-paying bonds and convertible bonds, and equity securities, such as dividend-paying common stocks. The Fund may also invest in preferred stocks and write covered calls on equities. The composition of the Fund?s investments in equity, debt, and cash or money market instruments may vary substantially depending on various factors, including market conditions. Under normal circumstances, the Fund invests at least 25% of its assets in fixed income securities and at least 25% of its assets in equity securities. Fixed income securities include interest-paying bonds and convertible bonds. Equity securities include common stock, preferred stock, and options on those securities. The Fund may invest in the securities of companies with market capitalizations of $300 million or more and in the securities of companies of any credit quality. The Fund may invest its assets in equity securities of issuers domiciled outside the United States, including, without limitation, sponsored American Depositary Receipts (?ADRs?). The Fund may also invest its assets in debt securities of non-U.S. issuers. The allocation of the Fund?s investments between domestic and foreign issuers will vary according to market conditions. However, under normal conditions, at least 40% of the Fund?s assets is in securities of issuers domiciled in at least three countries outside of the United States. In addition, the Fund may invest without limitation in lower quality, higher yielding debt securities (rated Ba or lower by Moody?s Investors Service or BB or lower by S&P Global Ratings, or unrated but determined by the Fund?s investment sub-advisor, Managed Asset Portfolios, LLC (the ?Sub-Advisor?) to be of equivalent quality), also known as ?junk bonds.? While there are no restrictions on maturity, the bonds in the Fund?s portfolio will generally have an average maturity of less than ten years. The Sub-Advisor seeks to invest in attractively valued securities that, in its opinion, represent above-average long-term investment opportunities. The Sub-Advisor seeks investments in securities using a bottom up process to identify temporarily out of favor securities that have an attractive valuation compared to the company?s net assets and earnings power. The Sub-Advisor also seeks securities where a catalyst may unlock the intrinsic value of the company. Securities are subsequently removed from the portfolio when the stock exceeds its estimated fair market value, or when there is a change or deterioration at the company that causes the portfolio managers to believe the stock is no longer attractive relative to other investment opportunities.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| World Gold Trust SPDR GLD MINIS | GLDM | $732.25K | 5.02% |
| AIRCASTLE LTD | — | $624.16K | 4.28% |
| TGNA 7 3/4 06/01/27 | — | $480.86K | 3.30% |
| FIRST AM-TR OB-X | TMPXX | $478.95K | 3.28% |
| TAKEDA PHARM-ADR | TAK | $425.96K | 2.92% |
| MXCN 5 1/8 10/15/27 | MXCN | $422.26K | 2.89% |
| ARCELORMITTAL SA | — | $412.35K | 2.83% |
| BUNGE GLOBAL SA | — | $409.20K | 2.81% |
| SANOFI SPON ADR | SNY US | $362.70K | 2.49% |
| NESTLE S A SPONSORED ADR | NSRGY | $359.24K | 2.46% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Catalyst/MAP Global Equity Fund · CAXAX, CAXCX, CAXIX | 60% | 0.97% |
| Janus Henderson U.S. Dividend Income Fund · JIDVX, JNDVX, JDDVX | 15% | 0.57% |
| Janus Henderson Growth and Income Fund · JAGIX, JDNAX, JGICX, JGINX, JDNRX, JADGX, JNGIX, JDNNX | 13% | 0.62% |
Footnotes
- Expense ratio as of November 5, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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