Morningstar

Rational/Pier 88 Convertible Secs A PBXAX

Morningstar Medalist Rating
Medalist Rating as of | See Rational Funds Investment Hub
  • NAV / 1-Day Return 11.19  /  0.00
  • Total Assets 149.2 Mil
  • Adj. Expense Ratio
    1.250%
  • Expense Ratio 1.250%
  • Distribution Fee Level Above Average
  • Share Class Type Front Load
  • Category Convertibles
  • Investment Style Large Growth
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 2.17%
  • Turnover 180%

USD | NAV as of Sep 26, 2024 | 1-Day Return as of Sep 26, 2024, 10:13 PM GMT+0

Morningstar’s Analysis PBXAX

Will PBXAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PBXAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the PBXAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of PBXAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Weakness in Rational/ Pier 88 Convertible Secs A's Process and People Pillar ratings limits this strategy to a Morningstar Medalist Rating of Negative.

null Morningstar Manager Research

Morningstar Manager Research

Summary

Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the second-highest quintile among peers.

by Morningstar Manager Research
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Portfolio Holdings PBXAX

More PBXAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 45.0
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Welltower OP LLC 2.75%

5.01 6.9 Mil
Corporate

Apollo Global Management Inc 6.75% PRF CONVERT 31/07/2026 USD 50 - Ser A

4.71 6.5 Mil
Financial Services

Wells Fargo & Co 7 1/2 % Non Cum Perp Conv Pfd Shs -A- Series -L-

4.63 6.4 Mil
Financial Services

Ford Motor Company 0%

4.54 6.3 Mil
Corporate

Bank of America Corp 7 1/4 % Non-Cum Perp Conv Pfd Shs Series -L-

4.52 6.3 Mil
Financial Services

NextEra Energy Inc Unit ( 6.926% Corporate Units 01/09/2025)

4.51 6.3 Mil
Utilities

DexCom Inc 0.25%

4.46 6.2 Mil
Corporate

Tyler Technologies Inc. 0.25%

4.43 6.2 Mil
Corporate

PPL Capital Funding Inc. 2.875%

4.22 5.9 Mil
Corporate

Booking Holdings Inc

4.00 5.5 Mil
Consumer Cyclical

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