Mesirow High Yield Fund

Why invest in this Fund?

POTENTIAL ADVANTAGES
  • Value-driven analysis that seeks companies able to generate free cash flow and consistent investment returns throughout an economic cycle
  • High yield opportunities from small, privately owned issuers not closely followed by competitors or brokerage research
  • Alpha-generation potential from an experienced high yield manager that values proprietary research over index weightings
Objective

A high level of current income consistent with preservation of capital

Vehicles

Separate account | Mutual fund | Collective investment trust

Share classes

Institutional Class
MFHIX | 00774Q783

Investor Class
MFHVX | 00774Q775

Process

STEP ONE

Focus on industries we believe have sufficiently low cash flow volatility to service debt regardless of macro trends

STEP TWO

Identify above-average yield opportunities in those industries and optimize allocations according to our investment themes

STEP THREE

Monitor each credit's sensitivity to select macro variables: e.g., consumer spending, credit availability, commodity prices

STEP FOUR

Sell when we believe a secular change overturns over investment thesis

Fact sheet

Share classes, performance and holdings

Portfolio management

Headshot of Robert Sydow

Robert Sydow

Chief Investment Officer | Fixed Income Management

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Headshot of Kevin Buckle

Kevin Buckle, CFA

Senior Managing Director | Fixed Income Management

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Headshot of James Lisko

James Lisko

Managing Director |Fixed Income Management

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Celebrating its 3-year anniversary: Mesirow High Yield Fund (MFHIX)

The Mesirow High Yield Fund has reached its three-year anniversary. The Fund employs a value-driven analysis that seeks companies able to generate free cash flow and consistent investment returns throughout an economic cycle. The Fund also seeks to find opportunities from smaller issuers not closely followed by competitors or brokerage research. Alpha-generation is a potential advantage as portfolio management values proprietary research over index weightings.

overall morningstar ratingtm based on risk ADJUSTED RETURNS

Out of 633 funds in the Morningstar US High Yield Bond category as of 3.31.2022

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The Morningstar Rating™ for funds, or "star rating,” is calculated for managed products (including mutual funds, variable annuity, variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales load. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. 

© 2022 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Carefully consider the Funds’ investment objective, risk factors, charges and expenses before investing. This and additional information can be found in the Funds’ full & summary prospectus, which may be obtained at mesirow.com/mutual-funds or by calling 1.833.MESIROW. Read the prospectus carefully before investing.

The Mesirow Funds are distributed by SEI Investments Distribution Co. (SIDCO). The Funds are managed by Mesirow Financial Investment Management, Inc. SIDCO is not affiliated with Mesirow Financial Investment Management, Inc. or Mesirow Financial, Inc.

Risk Disclosure: Mutual fund investing involves risk, including the possible loss of principal. There is no guarantee the fund will achieve its stated objective. Bonds and bond funds are subject to interest rate risk and decline in value as interest rates rise. High yield bonds have greater risk of default or downgrade and are more volatile than investment grade bonds. Mortgage-backed securities (MBS) are subject to prepayment and extension risk. Small movements in interest rates may quickly and significantly reduce the value of certain MBS. The Fund may invest in derivatives. Changes in market value of fund securities and those securities related derivatives may not be proportionate. Derivatives are subject to illiquidity and counterparty risk. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. The fund’s use of leverage may accelerate the velocity of potential losses. Investments in MLPs involve risks that differ from investments in common stock including risks related to limited control and limited rights to vote on matters affecting the MLP.

The information contained herein should not be construed as a recommendation to purchase or sell any particular security or investment vehicle offered by Mesirow Financial. The information included has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. Any opinions expressed are subject to change without notice. Mesirow Financial Investment Management, Inc. and its affiliated companies and/or individuals may, from time to time, own, have long or short positions in, or options on, or act as a market maker in, any securities discussed herein and may also perform financial advisory or investment banking services for those companies.  Information is provided in U.S. dollar denominations.

It should not be assumed that any recommendations incorporated herein will be profitable or will equal past performance. Any stated performance results include the reinvestment of dividends and other earnings. The Mesirow Financial name and logo are registered service marks of Mesirow Financial Holdings, Inc. Investment management services offered by Mesirow Financial Investment Management, Inc., an SEC-registered investment advisor. Securities offered through Mesirow Financial, Inc. member FINRA and SIPC.

Bonds and bond funds are subject to interest rate risk and decline in value as interest rates rise. High yield bonds have greater risk of default or downgrade and are more volatile than investment grade bonds. Mortgage-backed securities (MBS) are subject to prepayment and extension risk. Small movements in interest rates may quickly and significantly reduce the value of certain MBS. The Fund may invest in derivatives. Changes in market value of fund securities and those securities related derivatives may not be proportionate. Derivatives are subject to illiquidity and counterparty risk. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. The fund’s use of leverage may accelerate the velocity of potential losses. Investments in MLPs involve risks that differ from investments in common stock including risks related to limited control and limited rights to vote on matters affecting the MLP.

The Mesirow Funds are distributed by SEI Investments Distribution Co. (SIDCO). The Funds are managed by Mesirow Financial Investment Management, Inc. SIDCO is not affiliated with Mesirow Financial Investment Management, Inc.

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