RMB Mendon Financial Long/Short Fund

 

PORTFOLIO MANAGER

Senior Portfolio Manager, RMB Mendon Financial Services Fund and RMB Mendon Financial Long/Short Fund
Fact Sheet
Holdings
Commentary
 

FUND FACTS

$199.8
Total Net Assets in Millions
(9/30/18)
Morningstar
Rating Overall
(194 funds in the long-short equity category based on risk-adjusted returns)
$2,500
Minimum Investment
Class A & C
0%
Redemption Charge

Ratings reflect fee waivers in effect; in their absence, ratings may have been lower. The Morningstar RatingTM 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. 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. The RMB Mendon Financial Long/Short Fund Class A was rated as of 9/30/18 against the following number of U.S. domiciled long-short equity funds over the following time periods: 194 funds in the last three years, 105 funds in the last 5 years, and 29 funds in the last 10 years. With respect to these long-short equity funds, the RMB Mendon Financial Long/Short Fund Class A received a Morningstar rating of 2, 4, and 4 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
2.01%
Expense Ratio
5/1/18
5.00%
Maximum Sales Charge
RMBCX
Class C
74968B209
CUSIP
4/30/2004
Inception Date
2.71%
Expense Ratio
5/1/18
1.00%
Maximum Sales Charge
RMBIX
Class I
74968B308
CUSIP
8/19/2015
Inception Date
1.71%
Expense Ratio
5/1/18
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-Adviser’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

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Morbi lectus felis, maximus vehicula consequat quis, imperdiet eu lorem. Mauris porttitor leo lectus, ut fringilla ante fermentum non. Maecenas lacinia eu dui eget luctus. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia Curae; Fusce mi odio, hendrerit id elementum et, molestie a lorem. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus et pulvinar urna. Aliquam sit amet efficitur lorem. Sed quis nisl quis est gravida cursus mollis id turpis. Proin sit amet tortor sed nunc laoreet porttitor. Etiam commodo elit ac ipsum feugiat, ut congue diam fermentum. Nullam eget ipsum nibh.

 

PERFORMANCE

RMB Mendon Financial Long/Short Fund
Quarter1 Year3 Year5 Year10 YearSince Inception
As of 09/30/2018
Class A
RMBFX
4/30/2004 Inception
NAV-6.79%-5.65%2.43%6.97%7.80%8.02%
SEC Return**-11.44%-10.36%0.69%5.88%7.54%7.63%
KBW Bank Index TR1.56%7.92%17.00%13.34%6.57%3.19%
Class C
RMBCX
4/30/2004 Inception
NAV-6.99%-6.32%1.71%6.21%7.04%7.26%
SEC Return**-7.92%-7.25%1.71%6.21%7.04%7.26%
KBW Bank Index TR1.56%7.92%17.00%13.34%6.57%3.19%
Class I
RMBIX
8/19/2015 Inception
NAV-6.72%-5.38%2.75%
2.18%
KBW Bank Index TR1.56%7.92%17.00%
12.57%

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.