Fund Overview

Since 1992, the Managed Income Strategy has delivered compelling risk-adjusted returns throughout various market cycles. During this period, the Strategy has been consistently ranked near the top of its Morningstar® peer group. The Managed Income Fund offers the same philosophy, approach, and process as the Managed Income Strategy within a Mutual Fund.

Investment Objective

The Managed Income Fund seeks income. The Portfolio Manager uses a quantitative model, designed to recognize and measure consistent and repeating behavioral patterns in the financial markets to determine overall buy/sell decisions for the Fund. This Investment process seeks to recognize and select opportunities to allocate into potentially higher yielding securities when the signal is “Risk-On” and allocate to treasuries and government securities and cash equivalents when the signal is “Risk-Off”. 

The Fund strives to provide investors the potential to participate in rising markets, while avoiding times of market decline and/or volatility.

  • The quantitative model seeks to determine overall buy/sell decisions by analyzing a variety of bond and equity data inputs on a daily basis
  • Established process seeks to select the best opportunities to allocate into higher yielding securities
  • The efficiency and effectiveness of the model is constantly monitored in response to changing economic and market environments

Risk-On-Off-Oct-19-2020-06-03-23-51-PMThere is no guarantee any investment strategy will generate a profit or prevent losses and there is no guarantee the Fund will achieve its investment objective. Please refer to the Fund's Risk Definitions for more information.

Managed Income Fund Resources

Asset 1

Quarterly Fact Sheet

Most recent strategy returns, key statistics, exposures and holdings related data

Asset 2

Managed Income Strategy

Overview and track record of the Managed Income Strategy since 1992 that has been implemented into KAMIX

Asset 1

Morningstar Page

View the Managed Income Fund on public Morningstar web site

Fund Information

    A Share C Share I Share      
Ticker Symbol   KAMAX KAMCX KAMIX      
CUSIP Number   00771F723 00771F640 00771F715      
Minimum Investment1   $1,000 $1,000 $25,000      

1 Investment minimums are waived to fee-based advisors and certain other investors.

Fund Operating Expenses

  A Share C Share I Share
Management Fees 1.25%  1.25%  1.25%
Distribution and/or Service (12b-1) Fees 0.25%  1.00%  0.00%
Other Expenses2 0.27% 0.30% 0.34%
Acquired Fund Fees and Expenses3 0.53% 0.53% 0.53%
Total Annual Fund Operating Expenses 2.30% 3.08% 2.12%
Fee Waivers4 (0.00)% (0.00)% (0.14)%
Total Annual Fund Operating Expenses After Fee Waivers 2.30% 3.08% 1.98%

2 For Class A shares, other expenses may include shareholder service expenses that may include sub-transfer agent and sub-custodian fees.

3 Acquired Fund Fees and Expenses, are indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights, when issued, because the financial statements include only the direct operating expenses incurred by the Fund and does not include the indirect costs of investing in other investment companies.

4 Pursuant to an operating expense limitation agreement between the Fund and Advisers Preferred, LLC (the “Adviser”) and Kensington Asset Management LLC (the “Sub-Adviser”), the Adviser and Sub-Adviser have agreed to waive fees and/or absorb expenses of the Fund to ensure that Total Annual Fund Operating Expenses (excluding any brokerage fees and commissions, acquired fund fees and expenses, borrowing costs (such as interest and dividend expense on securities sold short), taxes and extraordinary expenses such as litigation) do not exceed 1.45% of the average net assets Institutional Class shares, through April 30, 2022. The Adviser and Sub-Adviser are permitted to receive reimbursement from the Fund for fees waived and Fund expenses it paid, subject to the limitation that: (1) the reimbursement for fees and expenses will be made only if payable within three years from the date the fees and expenses were initially waived or reimbursed; and (2) the reimbursement may not be made if it would cause the expense limitation in effect at the same time of the waiver of currently in effect, whichever is lower, to be exceeded.

Fund Documents

  KAMAX/KAMIX KAMCX
Summary Prospectus Download Download
Prospectus Download Download
Statement of Additional Information (SAI) Download Download
Annual Report Download Download
Semi-Annual Report Download Download

 

High portfolio turnover may result in higher transaction costs and higher taxes when fund shares are held in a taxable (non-qualified) account. Such costs are not reflected in annual Fund operating expenses and may affect the Fund’s performance. An investment in the Fund involves risk. There is no guarantee that the Fund will meet its investment objectives. Please see Fund Documents table above for complete information relating to risks and expenses of the Fund.

Risks associated with the Managed Income Fund include Principal Investment Risk, Junk Bond Risk, Bond Risk, Emerging Market Risk, Foreign Investment Risk, Loans Risk, No History of Operations Risk, Management Risk, Market Risk, Mutual Fund Risk, Non-Diversification Risk and Turnover Risk.