RFCI

RFCI has broad capabilities in terms of investment strategy and investable securities but with tighter boundaries than unconstrained peers. The actively-managed fund uses quant analysis and market conditions to select fixed income securities which may include in US and foreign government debt, high yield, emerging markets, mortgage backed securities, asset backed securities, convertible bonds, preferred shares, and municipal bonds. RFCI can invest a maximum of 20% in MBS, CMBS, or ABS securities, and can invest up to 15% in high yield bonds. The fund has a 10% limit to emerging market debt, as well as non-USD denominated bonds. No claims to average maturity, credit rating, or duration are made. Due to the fund's active nature and opaque methodologies, the decision to invest depends heavily on confidence in the management team.