Multi Asset

PBAKX

Tactical Opportunities Fund

Overview

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Performance

Performance

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. Effective as of May 31, 2018, the performance information for periods prior to the inception date of the share class shows the performance of the Fund’s Investor A Shares. The performance of this share class would be substantially similar to Investor A Shares because this share class and Investor A Shares invest in the same portfolio of securities and performance would only differ to the extent that this share class and Investor A Shares have different expenses. For performance periods prior to May 31, 2018, the performance information for periods prior to the inception date of the share class shows the performance of the Fund’s Investor A Shares, adjusted to reflect the fees and expenses applicable to such share class. See the fund prospectus for more details.

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 Jul 07, 2020 $545.1 M
Size of Fund (Millions) as of Jul 07, 2020 $1,035.9 M
Share Class launch date Aug 01, 2016
Asset Class MultiAsset
Morningstar Category Multialternative
Lipper Classification Alt Global Macro Funds
Benchmark Index ICE BofAML 3 Month Treasury Bill Index (G0O1)
CUSIP 09258N570
Number of Holdings as of May 29, 2020 1,027
Max Offer Price as of Jul 07, 2020 $13.96
Open to New Investors Yes
Turnover Percent in the Annual Report as of Jun 30, 2020 288%

Ratings

Ratings

Morningstar Rating

5
Overall Morningstar Rating for Tactical Opportunities Fund, Class K, as of Jun 30, 2020 rated against 252 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 May 31, 2020 out of 207, 4,755, 207, 112 and 207 Funds, respectively in Lipper's Alt Global Macro Funds classification.

Holdings

Holdings

as of May 29, 2020
Name Weight (%)
TREASURY NOTE 2.75 08/15/2021 8.99
TREASURY NOTE 1.125 08/31/2021 8.22
APPLE INC 2.40
MICROSOFT CORP 2.29
AMAZON COM INC 1.88
Name Weight (%)
TRSWAP: NDEUMXF INDEX 1.23
FACEBOOK CLASS A INC 0.92
ALPHABET INC CLASS C 0.76
ALPHABET INC CLASS A 0.74
JOHNSON & JOHNSON 0.72

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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