NEW YORK--(BUSINESS WIRE)--Medalist Partners, LP, an investment management firm that specializes in structured credit and asset-based private credit, is pleased to announce that the Medalist Partners MBS Total Return Fund (SEMMX) has returned +10.33%, while the Medalist Partners Short Duration Fund (SEMIX) has returned +8.87%, for the 1-Year Period ended November 30, 2023. SEMMX ranked in the 5th percentile among 316 Nontraditional Bond funds and SEMIX ranked in the 3rd percentile among 232 Ultrashort Bond Funds for the 1-Year period ended November 30, 2023 based on total returns according to Morningstar.2 This top decile performance reflects Medalist’s success in executing its liquid alternatives strategies in the asset backed securities market, setting the stage for continued expected growth in 2024. “With elevated yields, discounted bond prices and strong underlying credit fundamentals in the residential housing market, we believe our mutual funds are well positioned to continue delivering strong risk adjusted returns for investors,” said Michael Ardisson, President of Medalist Partners.
Available on multiple platforms, including Fidelity and Schwab, Medalist’s daily liquidity mutual funds offer investors access to residential mortgage backed securities, commercial mortgage backed securities, and asset backed securities. The Medalist Partners MBS Total Return Fund focuses on low correlation to core fixed income while targeting current yield, low interest rate sensitivity and seeking to limit downside volatility through investments primarily in mortgage backed securities. The Medalist Partners Short Duration Fund focuses on low correlation to short and core fixed income, with current yield, low interest rate sensitivity, and seeking to limit downside volatility through investments primarily in investment-grade structured credit.
The Medalist Partners funds aim to provide individual investors with access to a niche segment of the structured credit market typically limited to institutional investors. “We’re pleased that our team and strategy have delivered for our investors in 2023 amidst a volatile fixed income market,” said Thomas Mandel, portfolio manager at Medalist. “We believe that structured credit currently offers some of the best value we have seen in decades. Given our deep expertise in the space and ability to understand credit risk to exploit market inefficiencies, generate yield, and total return, we are confident that our investment team is ideally positioned to capitalize on the opportunity,” added Greg Richter, CEO of Medalist.
Performance data quoted represents past performance; past performance does not guarantee future results.
About Medalist Partners
Medalist Partners is an alternative investment management firm specializing in asset-based private credit and structured credit. Medalist’s clients include a broad range of institutional and high net worth investors. Headquartered in New York, Medalist is led by partners Greg Richter, Michael Ardisson and John Slonieski. Having previously led Credit Suisse’s global specialty finance and securitization business, the team has extensive experience in asset finance, structured products, securitization, investment banking, and credit underwriting. For more information, visit www.medalistpartners.com and www.medalistpartnersfunds.com.
Fund Performance as of 9/30/23 |
1 Year |
5 Years |
10 Years |
Gross Operating Expenses |
SEMMX |
5.04% |
-0.45% |
2.93% |
0.87% |
SEMIX |
7.53% |
1.92% |
2.08% |
0.66% |
Periods longer than 1 year are annualized. 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 may be obtained by calling 855-736-7799. Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced.
Please read and consider the Prospectus carefully before investing. The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. This and other important information about the Funds are contained in the Prospectus which can be obtained by calling 855-736-7799 or visiting www.medalistpartnersfunds.com.
Mutual fund investing involves risk. Principal loss is possible. SEMMX and SEMIX invest in debt securities: As interest rates rise, the value of debt securities decrease; whereas prepayment risk tends to occur during periods of declining interest rates. This risk is usually greater for longer-term debt securities. Investments in Mortgage-Backed and Asset Backed Securities include additional risks that investors should be aware of such as credit risk, interest rate risk, prepayment risk, real estate market risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Many of the risks of investing in commercial mortgage-backed securities reflect the risks of investing in the real estate securing the underlying mortgage loans.
The Medalist Partners Funds are distributed by Quasar Distributors, LLC
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1 Returns as of November 30, 2023
2 Morningstar Rankings represent a fund's total return percentile rank relative to all funds in the same Morningstar Category for the same time period. The highest (or most favorable) percentile rank is 1%, and the lowest (or least favorable) percentile rank is 100%. It is based on Morningstar total return, which includes both income and capital gains or losses and is not adjusted for sales charges or redemption fees. Past performance does not guarantee future results. Rankings shown for Institutional shares only: rankings for other share classes may differ. For the period ending November 30th 2023, SEMMX ranked in the 89th percentile for the 5 year period and 26th percentile for the 10 year period among 242 and 147 Nontraditional Bond funds, respectively and SEMIX ranked in the 32nd percentile for the 5 year period and 2nd percentile for the 10 year period among 182 and 97 Ultrashort Bond Funds, respectively based on total returns according to Morningstar.
