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Multi Asset

PCBAX

Tactical Opportunities Fund

Overview

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Performance

Performance

  • Returns

  YTD 1m 3m 1y 3y 5y 10y
-0.37 1.58 -0.51 -2.77 14.23 11.24 60.78
-5.60 -3.76 -5.74 -7.87 8.24 5.40 52.34
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. 1.81 0.17 0.56 2.39 4.70 5.01 5.52
Morningstar Category Avg. (%) Multialternative 5.94 0.22 0.24 4.07 7.97 6.83 32.77
Lipper Category Avg. (%) Alt Global Macro Funds 9.08 0.59 0.03 2.63 12.38 13.12 58.08
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 Nov 20, 2019 $218.6 M
Size of Fund (Millions) as of Nov 20, 2019 $906.9 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 Oct 31, 2019 747
Max Offer Price as of Nov 20, 2019 $14.59
Open to New Investors Yes
Turnover Percent as of Oct 31, 2019 265%

Portfolio Characteristics

Portfolio Characteristics

R-Squared as of Oct 31, 2019 0.13
Average Market Cap (Millions) The average size of the securities the fund invests in. as of Oct 31, 2019 $ 167,389.1 M
Beta (3y) as of Oct 31, 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 Oct 31, 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 Oct 31, 2019 rated against 236 Multialternative Funds based on risk adjusted total return.

Lipper Leader

 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Oct 31, 2019 out of 198, 4,605, 198, 45 and 198 Funds, respectively in Lipper's Alt Global Macro Funds classification.

Exposure Breakdowns

Exposure Breakdowns

as of Oct 31, 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
Director, Global Tactical Asset Allocation

    

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

   

Portfolio Manager

Literature

Literature

 

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