Dolan McEniry Credit is a U.S. corporate bond strategy that utilizes a blend of 50% investment grade and 50% high yield corporate bonds. Clients choose to benchmark this product against that Bloomberg Barclays U.S. Intermediate Credit Index.
Dolan McEniry Credit
Annualized Composite Return Data through September 30, 2018
- Dolan McEniry Credit (Net)
- Bloomberg Barclays U.S. Intermediate Credit Index
Definition of the Composite
Dolan McEniry Credit is a fixed income investment product benchmarked against the Bloomberg Barclays U.S. Intermediate Credit Index. In this strategy, the firm utilizes U.S. corporate investment grade, U.S. corporate high yield and U.S. Treasury securities. Dolan McEniry Credit has averaged approximately 50% U.S. corporate investment grade bonds and 50% U.S. corporate high yield bonds. The Dolan McEniry Credit Composite was established and created on December 31, 2008. Non-fee paying accounts represented less than 2% of the composite assets for all periods shown. There were 0.04% non-fee paying accounts in the composite as of December 31, 2017.
The Bloomberg Barclays U.S. Intermediate Credit Index is the intermediate component of the Bloomberg Barclays U.S. Credit Index. The Bloomberg Barclays U.S. Credit Index measures the investment grade, US dollar-denominated, fixed-rate, taxable, corporate and government –related bond markets. It is composed of the US Corporate Index and a non-corporate component that includes foreign agencies, sovereigns, supranationals, and local authorities.
Intra-month cash flows from interest and principal payments contribute to monthly Index returns but are not reinvested at a short-term reinvestment rate between rebalance dates. At each rebalancing, cash is effectively reinvested into the returns universe for the following month so that Index results over two or more months reflect monthly compounding. One cannot invest directly in an Index.
Gross returns are presented gross of management fees, custodial fees, and withholding taxes, but net of direct trading expenses. Net-of-fee returns are net of actual investment management fees and direct trading expenses. All returns are based in U.S. dollars and computed using a time-weighted total return. Composite returns are asset weighted individual portfolios computed monthly. Returns for periods exceeding 12 months are annualized. The Dolan McEniry Credit Composite includes both price performance and coupon/dividend income as does the Bloomberg Barclays U.S Intermediate Credit Index. Results reflect the reinvestment of dividends, interest and other earnings. The Dolan McEniry performance reflected above is not necessarily indicative of future results and, as a composite of different accounts, does not necessarily reflect the exact performance of any specific account. Additional information regarding the firm’s policies and procedures for calculating and reporting performance returns is available upon request.
Past performance is no guarantee of future results. Investing is speculative and involves risk, including the possible loss of principal. Historical returns should not be used as the primary basis for investment decisions. This product should be considered based on the suitability of its strategy in relation to return objectives, risk tolerances, and other investments. Although the statements of fact and data in this document have been obtained from or based upon sources believed to be reliable, Dolan McEniry Capital Management, LLC makes no warranties or representation as to their accuracy, correctness, or reliability, and assumes no liability or responsibility for any omissions or errors.