Multi Asset

PCBAX

Tactical Opportunities Fund

Overview

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Performance

Performance

  • Returns

  1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
4.34 3.94 2.58 7.00 7.46
-1.14 2.09 1.48 6.42 7.27
Benchmark (%) Index: ICE BofAML 3 Month Treasury Bill Index (G0O1).<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. 1.87 1.02 0.63 0.38 -
Morningstar Category Avg. (%) Multialternative -3.23 2.66 1.37 4.56 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 16/360 22/278 11/177 4/63 -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 1 1 1 1 -
Lipper Category Avg. (%) Alt Global Macro Funds -5.82 2.79 0.71 5.13 -
Lipper Ranking Rankings are based on total return excluding sales charges. 8/260 78/229 34/198 8/73 -
Lipper Quartile Rankings are based on total return excluding sales charges. 1 2 1 1 -
  YTD 1m 3m 1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
4.34 -1.12 -2.41 4.34 12.29 13.56 96.68 765.76
-1.14 -6.31 -7.53 -1.14 6.40 7.60 86.35 720.30
Benchmark (%) Index: ICE BofAML 3 Month Treasury Bill Index (G0O1).<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. 1.87 0.18 0.56 1.87 3.08 3.17 3.81 -
Morningstar Category Avg. (%) Multialternative 2.50 2.50 0.50 -3.23 8.21 7.02 56.20 -
Lipper Category Avg. (%) Alt Global Macro Funds -5.82 -2.50 -5.66 -5.82 8.76 4.10 66.42 -
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

The Fund’s returns between May 15, 2012 and January 28, 2016 are the returns of the Fund when it followed different investment strategies to invest a significant portion of its assets in other investment companies and directly in securities.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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Distributions

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Key Facts

Key Facts

Size of Class (Millions) as of Mar 21, 2019 $238.3 M
Size of Fund (Millions) as of Mar 21, 2019 $734.9 M
Share Class launch date Dec 29, 1988
Asset Class MultiAsset
Morningstar Category Multialternative
Lipper Classification Alt Global Macro Funds
Benchmark Index ICE BofAML 3 Month Treasury Bill Index (G0O1)
CUSIP 091927822
Number of Holdings as of Feb 28, 2019 661
Max Offer Price as of Mar 21, 2019 $14.52
Open to New Investors Yes
Turnover Percent as of Feb 28, 2019 265%

Portfolio Characteristics

Portfolio Characteristics

R-Squared as of Feb 28, 2019 0.07
Average Market Cap (Millions) The average size of the securities the fund invests in. as of Feb 28, 2019 $ 123,924.5 M
Beta (3y) as of Feb 28, 2019 0.00
Best 3-Month Return Over the Last 3 Years 3 months ending Oct 31, 2017 4.66%
Worst 3-Month Return Over the Last 3 Years 3 months ending Dec 31, 2018 -2.41%
Fund Standard Deviation (3y) as of Feb 28, 2019 0.00
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Ratings

Ratings

Morningstar Rating

5
Overall Morningstar Rating for Tactical Opportunities Fund, Class A, as of Feb 28, 2019 rated against 277 Multialternative Funds.

Exposure Breakdowns

Exposure Breakdowns

as of Feb 28, 2019

% of Market Value

Type Long Short Net
Sorry, sectors are not available at this time.
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Philip Green
Managing Director, Head of Global Tactical Asset Allocation

  

Thomas Becker
Global Tactical Asset Allocation

    

Richard Murrall
Richard Murrall
Michael Pensky
Portfolio Manager and Researcher, Global Tactical Asset Allocation Team

   

Portfolio Manager

Literature

Literature

 

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