RMB Mendon Financial Long/Short Fund

 

PORTFOLIO MANAGER

Portfolio Manager, RMB Mendon Financial Services Fund and RMB Mendon Financial Long/Short Fund
Fact Sheet
Holdings
Annual Letter
 

FUND FACTS

$242.40
Total Net Assets in Millions
(12/31/17)
Morningstar
Rating Overall
(202 funds in the long-short equity category based on risk-adjusted returns)
$2,500
Minimum Investment
Class A & C
2%
Redemption Charge

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Total Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and ten-year (if applicable) Morningstar Rating metrics. The RMB Fund Class A was rated as of 12/31/17 against the following number of U.S. domiciled large growth funds over the following time periods: 202 funds in the last three years, 107 funds in the last 5 years, and 27 funds in the last 10 years. With respect to these large growth funds, the RMB Fund Class A received a Morningstar rating of 3, 5, and 5 stars for the 3, 5, and 10 year periods, respectively. Past performance is no guarantee of future results

RMBFX
Class A
74968B100
CUSIP
4/30/2004
Inception Date
2.11%
Expense Ratio
5/1/17
5.00%
Maximum Sales Charge
RMBCX
Class C
74968B209
CUSIP
4/30/2004
Inception Date
2.81%
Expense Ratio
5/1/17
1.00%
Maximum Sales Charge
RMBIX
Class I
74968B308
CUSIP
8/19/2015
Inception Date
1.82%
Expense Ratio
5/1/17
No Sales Charge
 

PHILOSOPHY

Investment Philosophy
The RMB Mendon Financial Long/Short Fund seeks capital appreciation. The Fund pursues its goal by investing at least 80% of its net assets (including borrowing, if any) in the common stocks of U.S. companies of any market capitalization that are in the financial services sector. The portion invested in small, medium, or large companies is expected to vary over time based on the sub-advisor’s view as to how to achieve the fund’s objective. The Fund is non-diversified.

Investment Approach

  • Seek companies with strong management, sound financial practices, and a defensible business niche
  • Focus on firms with sustainable growth in earnings, revenue, and cash flow
  • Identify undervalued equities that are temporarily distressed and have M&A potential
  • May “short” up to 25% of net assets
  • May use futures, options, and derivatives to hedge positions
 

PROCESS

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PERFORMANCE

RMB Mendon Financial Long/Short Fund
Quarter1 Year3 Year5 Year10 YearSince Inception**
As of 12/31/2017
Class A
RMBFX
4/30/2004 Inception
NAV-1.23%-3.07%6.76%11.03%8.37%8.84%
SEC Return*-6.16%-7.92%4.94%9.90%7.81%8.43%
KBW Bank Index TR8.06%18.59%15.27%18.20%4.12%3.37%
Class C
RMBCX
4/30/2004 Inception
NAV-1.38%-3.76%5.99%10.24%7.60%8.08%
SEC Return*-2.37%-4.72%5.99%10.24%7.60%8.08%
KBW Bank Index TR8.06%18.59%15.27%18.20%4.12%3.37%
Class I
RMBIX
8/19/2015 Inception
NAV-1.16%-2.78%
4.79%
KBW Bank Index TR8.06%18.59%
16.92%

The performance data quoted represents past performance and is not a guarantee of future results. The investment return and principal value of an investment will fluctuate, so that those shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the data quoted due to market volatility. To obtain performance as of the most recent month end, please call 1-800-462-2392.

 

HOLDINGS

Top Ten Holdings
As of 1/31/18
Triumph Bancorp Inc. 8.63%
South State Corp. 6.92%
Opus Bank Irvine, California 6.02%
First Foundation Inc. 5.85%
Pinnacle Financial Partners 5.19%
Live Oak Bancshares Inc. 4.64%
Atlantic Capital Bancshares 4.58%
FB Financial Corp. 3.98%
Seacoast Banking Corp. Florida 3.79%
Union Bankshares Corp. 3.29%
Holdings Statistics
As of 1/31/18
43
Total Number of Holdings
52.89%
% Assets in
Top 10 Holdings
74.04%
Turnover Ratio