NYC

Short Duration Fund

SEMIX | SEMRX

Objective

The primary objective of the Semper Short Duration Fund (the "Fund") is to provide a high level of current income that is consistent with preservation of capital.

Investment Strategy

The Fund invests primarily in investment-grade, U.S. dollar-denominated debt instruments of domestic entities. This includes U.S. Treasuries, Agencies, Mortgage-Backed, Asset-Backed, and other short duration securities that Semper deems as high quality. Semper has managed separate accounts for institutional investors with a substantially similar investment strategy since 1993.

Purchase & Sale of Shares

Shares may be bought or sold on any day the NYSE is open. All transactions are processed at the Fund's next net asset value (NAV), which is calculated at 4 pm ET each business day. Sale proceeds will normally be wired on the following business day.

All classes offer daily purchases and redemptions. The Institutional Shares have no Rule 12b-1 distribution and service fee and have a higher minimum initial investment than Investor Class Shares. Investor Class Shares have a 0.25% Rule 12b-1 distribution and service fee.

Minimum Investment

Institutional Class (SEMIX): $1,000,000
Investor Class (SEMRX): $2,500

Minimums may be lower on Broker Dealer Platforms.

Duration: Measure of a bond or bond portfolio's sensitivity to changes in interest rates. Generally, the longer the duration, the greater the price change relative to interest rate movements.

Fund Characteristics

As of 06/30/2022
  Fund Bloomberg 1-3 Year Government Index
AUM (Assets Under Management) $231.05 Million $3.6 Trillion
Effective Duration 0.28 Years 1.82 Years 
Average Life 3.44 Years  1.95 Years 
Number of Securities 145 326
Average Coupon 3.48% 1.45%
Average Price $96.38 $97.17
 

30 Day SEC Yield (subsidized): 2.84%
30 Day SEC Yield (unsubsidized): 2.76%

CLICK HERE FOR STANDARDIZED PERFORMANCE

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.

Average Coupon: Market value weighted average of the coupons of each portfolio security.
Average Life: Average number of years for which each dollar of unpaid principal on a loan or mortgage remains outstanding.
Average Price: The mean price of an asset or security over some period of time.

 

 

Sector Allocation

As of 07/31/2022

SDF-Sector-Allocation

Sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.
MBS: Mortgage-Backed Securities
CLO: Collateralized Loan Obligations

 
 

Credit Quality

As of 06/30/2022

SDF Credit Quality-Jul-12-2022-06-45-47-75-PM

Sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.
Investment Grade: Credit ratings of AAA, AA, A, and BBB assessed by credit rating agencies.
Below Investment Grade: Credit ratings of BB or lower by credit rating agencies. Credit quality distribution is determined by using the highest credit rating for each security from Moody's, Standard & Poor's, Fitch Ratings, DBRS, Morningstar and Kroll, five credit rating agencies providing credit assessments for mortgage-backed securities.

 
 

Duration

As of 06/30/2022

SDF Duration-Jul-12-2022-06-46-05-71-PM

Sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.
Duration: Measure of a bond or bond portfolio's sensitivity to changes in interest rates. Generally, the longer the duration, the greater the price change relative to interest rate movements.




“Bloomberg®” and Bloomberg 1-3 Year Government Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by Semper Capital Management, L.P. Bloomberg is not affiliated with Semper Capital Management, L.P., and Bloomberg does not approve, endorse, review, or recommend the Semper Short Duration Fund. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Semper Short Duration Fund.

Quarterly

As of 06/30/2022

  Quarter YTD 1 Year 3 Years 5 Years 10 Years Since Inception*
Institutional Class -1.91% -3.38% -2.94% -0.31% 0.93% 1.40% 1.82%
Bloomberg 1-3 Year Government Index -0.52% -3.01% -3.50% 0.18% 0.91% 0.78% 0.84%
 

Gross Expense Ratio: 0.62% Net Expense Ratio: 0.60%**
Periods longer than 1 year are annualized.
*Inception of the Fund is 12/23/10.

 
  Quarter YTD 1 Year 3 Years 5 Years 10 Years Since Inception*
Investor Class -1.97% -3.40% -3.18% -0.53% 0.71% 1.17% 1.58%
Bloomberg 1-3 Year Government Index -0.52% -3.01% -3.50% 0.18% 0.91% 0.78% 0.84% 


Gross Expense Ratio: 0.87% Net Expense Ratio: 0.85%**
Periods longer than 1 year are annualized.
*Inception of the Fund is 12/23/10.

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.
 

**Semper Capital Management, L.P. (the "Adviser") has contractually agreed to waive a portion or all of its management fees and pay Fund expenses to ensure that Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement (excluding AFFE, taxes, interest expense, dividends on securities sold short and extraordinary expenses) do not exceed 0.60% of average daily net assets. The Expense Caps will remain in effect through at least through March 29, 2023 and may be terminated only by the Trust's Board of Trustees (the "Board"). The net expense is what an investor has paid. The Adviser may request recoupment of previously waived fees and paid expenses from the Fund for three years from the date they were paid, subject to the Expense Caps.

“Bloomberg®” and Bloomberg 1-3 Year Government Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by Semper Capital Management, L.P. Bloomberg is not affiliated with Semper Capital Management, L.P., and Bloomberg does not approve, endorse, review, or recommend the Semper Short Duration Fund. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Semper Short Duration Fund.

 

Materials

Fact Sheet

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

Download
Investor Presentation
(Institutional Investors Only)

Overview of our investment universe, philosophy, process and portfolio characteristics

Download

Fund Documents

   
Summary Prospectus Download
Prospectus Download
Statement of Additional Information (SAI) Download
Annual Report Download
Semi-Annual Report Download
2021 Tax Information Download
Fund Holdings (as of 2/28/2022) Download
Fund Holdings (as of 8/31/2021) Download

 

Account Forms

   
New Account Application Download
New Entity Account Application Download
Beneficial Ownership Change Form Download
IRA Application Download
IRA Disclosure Download
IRA Transfer Form Download

 

How To Invest (Semper MBS Total Return Fund and Semper Short Duration Fund)


For Direct Purchase:

Download an application below or call 855-736-7799
Documents


Open an account online

Open Account

 

Broker Dealer Platforms

Semper Funds are also available on many Broker Dealer Platforms including:

Barclays Capital, Inc.

Matrix Trust Company

BNY Mellon

Mid Atlantic Capital Corp. (Sunguard)

Cambridge Investment Research

Morgan Stanley

CAVU Securities

MSCS Financial Services, LLC

Charles Schwab & Co.

National Association

Coastal Equities

Newbridge Securities Corp.

COR Clearing

Oppenheimer & Co. Inc.

DA Davidson

Pershing LLC

Fidelity/National Financial Services

PNC Bank

First Republic Securities

RW Baird

Folio FN Investments

Scottrade

Hancock Securities Group

SEI Private Trust

Interactive Brokers, LLC

State Street

Janney Montgomery Scott, LLC

Stifel, Nicolaus & Company, Incorporated

Jefferies LLC

Sunbelt Securities

JP Morgan Chase

TD Ameritrade

Kalos Capital, LLC

UBS Financial Services

Lincoln Financial Advisors

Vanguard

LPL Financial Corp.

Wedbush Securities Inc.

Account Access Login (Semper MBS Total Return Fund and Semper Short Duration Fund)

 

MBS Total Return Fund Login       Short Duration Fund Login
 
Please read and consider the prospectus carefully before investing. To obtain a hardcopy of the prospectus, please call 855-736-7799.
 
Mutual fund investing involves risk. Principal loss is possible.

Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced.

The Semper MBS Total Return Fund and the Semper Short Duration Fund 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. Recent turbulence in the financial markets and reduced liquidity in credit and fixed-income market may have an adverse effect on the Fund. 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. Accordingly, the Funds may not be suitable for all investors

In addition, the MBS Total Return Fund invests in lower-rated and non-rated securities that present a greater risk of loss to principal and interest than higher-rated securities. The Fund regularly makes short sales of securities, which involves the risk that losses to those securities may exceed the original amount invested by the Fund. The Fund may invest in securities that are less liquid which can be difficult to sell. The Fund may use certain types of investment derivatives such as futures, forwards, and swaps. Derivatives involve risks different from, and in certain cases, greater than the risks presented by more traditional investments. The Fund may use leverage which may exaggerate the effect of any increase or decrease in the value of portfolio securities. The Fund may invest in TBA securities which involve interest rate and investment exposure risks. The Fund may invest in When-Issued securities which may involve less favorable prices for securities, when delivered, and failure to deliver securities could cause a loss to the Fund.

The Semper Funds are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this website should be considered a solicitation to buy or an offer to sell shares of any Semper Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

Past performance does not guarantee future results.

The Semper Funds are distributed by Quasar Distributors, LLC.
 

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52 Vanderbilt Avenue
Suite 401
New York, NY 10017
212.612.9050
info@sempercap.com
 

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