https://www.sec.gov/Archives/edgar/data/915802/000139834420021185/fp0058962_497.htm(see link for more info)
FINANCIAL INVESTORS TRUST
SUPPLEMENT DATED NOVEMBER 2, 2020 TO THE PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
FOR THE RONDURE NEW WORLD FUND (THE “FUND’) DATED AUGUST 3
1, 2020, AS
SUPPLEMENTED FROM TIME TO TIME
Effective immediately, Lydia So has joined the portfolio management team of the Fund. Therefore, the following changes are being made with respect to the Fund.
Summary Prospectus/Prospectus
The section entitled “Portfolio Managers” in the summary prospectus and in the summary section of the prospectus with respect to the Fund is hereby deleted and replaced in its entirety with the following:
Portfolio Managers
Laura Geritz, CFA, MA, Chief Executive Officer of the Adviser, has been a portfolio manager of the Fund since its inception in 20
17. Lydia So, Portfolio Manager of the Adviser, has been a portfolio manager of the Fund since November 2020.
Prospectus
The following information is added after the last paragraph in the section entitled “The Portfolio Manager” in the prospectus with respect to the Fund:
Lydia So, CFA
Lydia So is a Portfolio Manager for the Rondure New World Fund. Her primary focus is on developing markets and her secondary focus is on international developed markets.
Prior to joining Rondure in 2020, Ms. So spent
15 years at Matthews Asia, initially as research analyst covering Asia ex Japan equities. She served as Co-Portfolio Manager for the Matthews Asia Science & Technology Fund (MATFX; now known as Matthews Asia Innovators Fund) from 2008 - 20
17. Ms. So was the founding Lead Portfolio Manager for the Matthews Asia Small Companies Fund (MSMLX) from its inception in 2008 - 2020, and Co-Portfolio Manager for the Matthews China Small Companies Fund (MCSMX) from 20
19 -2020.
Ms. So started her career in the investment industry in
1999 at Kochis Fitz Wealth Management in San Francisco. In 200
1, she joined Dresdner RCM Global Investors as a portfolio associate working on U.S. Large Cap equity strategies.
Ms. So graduated from University of California, Davis, earning a BA in Economics. She is a CFA charter holder.
2020 Challenge - participants Greetings to all,
I'll run with this portfolio, pre-retiree, conservative, I hope that is is ok that I post after mkt opens on 1st trading day of the month...
VLSIX, KAR Long/Short, $150,000, 15%
TGUNX, TCW New America, $25,000, 2.5%
ARTTX, Artisan Focus, $25,000, 2.5%
ROSOX, Rondure Overseas, $50,000, 5%
IQDAX, Q Infinity, $350,000, 35%
TMSRX, T Rowe Price Multi Strat Tot Return, $50,000, 5%
ARBIX, Absolute Convert Arbitrage, $50,000, 5%
FPFIX, FPA Flex Fixed Income, $100,000, 10%
BIL, T Bill, 1-3 months, $200,000, 20%
Good Luck and Good Health to all,
Baseball_Fan
Bond Fund comparison I started to check the expense of some funds i might consider adding and saw TSIIX was.60 and PIMIX was1.09, both too much higher.
Fund Moves in 2020 Per previous comments, agree that FMIJX was a good performer for several years in my portfolio until
@2018. Was then on my watch list until March of 2020 as its pandemic performance belied its stated defensive posture. Traded into WCMIX--similar standard deviation and beta and with no regrets.
Bond Funds in retirement: Reinvest distributions or take them in cash? Well, consider this, maybe: I'm retired, wife's not. (That's how we can make expensive Hawaii work for us.) 4% is the figure that might work for us, as long as it amounts to the year's profit we remove from the portfolio, each January--- because, as long as the Market continues to rise, we'll make up that 4% and it will bring the portfolio back up to where it was, LAST January, before the withdrawal. So, we are not "spending down" the principal in the portfolio. I want to leave something behind. She's 19 years younger, and there is my son and her brothers to think about.
We're 36 stocks and 57 bonds and the rest in cash. That recipe is an aggregate of the fund managers' decisions. Of course WE are the ones who decided to be bond-heavy, now. We hold one equity fund (balanced, really) PRWCX, which comprises over 30% of our total. The fund is golden. It's closed, now. Because it's such a sizeable chunk of the portfolio, it produces profit in good years that's rather much higher than our other stuff. We take that 4% from THERE, not from our bond funds.
...WE might decide in days to come to begin to take the bond distributions and use them, but not yet. PRSNX RPSIX and PTIAX. I'm less than pleased with RPSIX, so on Friday last, I transferred a good chunk into PRSNX. These days, our monthly bond pay-outs amount to $300 in a good month. I want to keep growing that until it's worth much more. We have monthly automatic payments going into PTIAX. So we still re-invest all bond dividends. We take 4% (or so) yearly, but do not spend-down what's in the portfolio. We can have our cake and eat it, too.
Fifty Funds To Consider For Defense -- Charles Bolin Different types of risk are defined along with metrics from Mutual Fund Observer and Morningstar.
Fifty funds are evaluated over 20, 15, 10, 5, and 2 year periods for maximum drawdown, risk adjusted return (Martin Ratio), risk (Ulcer Index), and total return.
Short term performance for these funds are evaluated over one week, three months and year to date, along with 3 year beta.
Portfolio Visualizer is used to create a portfolio to minimize drawdown for an annualized return of 8% for the past two years.
50 Funds
Your Home is Not an Investment Welcome to Florida, Bee! We've been living in SW Fl full-time for 11 years. We started out as snowbirds, but that lasted one year before we moved here permanently. We actually like the summers down here...except for hurricanes...because it's a lot less crowded and the golf is inexpensive.
Bond Fund comparison Here's a table (data from M*) comparing the 3/5/
10 year standard deviations of several of the funds listed. I've divided it into funds with high grade portfolios and funds holding substantial amounts of junk bonds. Not surprisingly, over every time period the latter have been more volatile regardless of differences in durations.
You can reproduce this data by starting with the
M* legacy ratings & risk page for WATFX and then adding (using "Compare") the tickers for your funds of interest:
Fund 3yr 5yr 10yr
DODIX 3.62 3.26 2.93
WATFX 4.00 3.63 3.22
BCOIX 4.11 3.64 3.30
----------------------------
PTIAX 4.65 3.87 3.47
TSIIX 4.92 4.25 4.05
PIMIX 5.58 4.52 4.21
As
@hank wrote (third paragraph, above), the funds with better short term performance tended to hold lower quality bonds. Most multi-sector bonds, including the ones above, have average credit ratings of BB. The core plus bonds above (DODIX, BCOIX) are rated A, the core bond fund WATFX is rated AA.
Buying into junk bonds, especially with cash,
is a bet that the economy won't sink into a recession, or if it does, the government will bail out companies that were already shaky.
Here's a table showing past performance other than very short term. I've added a column, 3yr(20
19) that gives annualized performance figures over the period 20
17-20
19. That gives a sense of more recent multi-year performance while excluding the unusual ups and downs of 2020.
As above, the table is divided into funds with high grade and with junk bond portfolios. Over extended periods or periods excluding 2020, higher risk (junk) has done better. Over the past year or three years if one includes 2020, it has not.
Fund YTD 1yr 3yr 3yr(2019) 5yr 10yr
WATFX 6.63% 7.56% 5.56% 4.91% 4.95% 4.53%
BCOIX 7.02% 7.70% 5.55% 4.66% 4.92% 4.50%
DODIX 6.73% 7.40% 5.39% 4.52% 4.98% 4.34%
------------------------------------------------------
TSIIX 5.71% 6.71% 4.85% 4.94% 5.32% 5.42%
PTIAX 3.34% 3.42% 4.49% 5.45% 5.05% 5.83%
PIMIX 1.54% 3.38% 3.57% 5.68% 5.26% 6.86%
Bond Fund comparison wxman123 says: "I respectfully suggest GIBLX for what you're looking for. One of my favorites, perhaps my ultimate favorite at the moment."
GIBLX used to be one of my favorites, but with rates seemingly going up, I currently prefer funds with shorter duration, for example, PIMIX, TSIIX, SCPZX, etc.
Good luck,
Fred
Fund Moves in 2020 Hi wxman123,
Yeah, it was (FMIJX) a top fund, but no more. Nothing lasts forever, as I always said. Don't love what you own. JOHAX: yes, owned it. Had 1 good year and sold it. America first, big guy! We have the money to support the market. That's where I'm at right now. Winter's coming now and this way something evil walks (i.e., COVID). I want to be here. We're the best. Think......the dollar. As the Dukester and I walk in the morning sun, I think of Ronnie (aka, Ronald Reagan). Back in the day.....it's ok.....we got this.
God bless
the Pudd
Your Home is Not an Investment Your home may not be a great investment but it is certainly a decent investment, comparable to safer investments in returns. Some people get lucky and buy homes at a great price or in neighborhoods that spike in value, but that’s often not the case.
We bought our home with a 15-year mortgage and paid it off about five years before retirement. Having our mortgage paid off made a huge difference in being able to retire when we did because our living expenses were so much lower. It also enabled us to ramp up our retirement savings the last few years of working.
Owning a home has many intangible values, if your neighborhood is desirable and you enjoy working in the yard or doing home improvements. For example, we live next a large city nature preserve where we can hike and walk the dog. On the downside, you never really pay off a home because of ongoing maintenance and repairs.
"plus" You may be thinking about the SEC rule that requires an investment company (fund) having "a name suggesting that the company focuses on a particular type of investment (e.g., an investment company that calls itself the ABC Stock Fund, the XYZ Bond Fund, or the QRS U.S. Government Fund) to invest at least 80% of its assets in the type of investment suggested by its name. "
https://www.sec.gov/rules/final/ic-24828.htmThis only applies to funds that have suggestive names. So while Templeton Foreign Fund (TEMFX) must have at least 80% of its portfolio in foreign securities, Tweedy Browne Global Value (TBGVX) doesn't have to meet this requirement, even though it typically does (currently 83.3% foreign).
AFAIK, the SEC hasn't set any rules saying that "core" has any meaning. So funds with "core" or "core plus" in their names are relatively free to invest however they please, subject to what's in their prospectuses.
Average years to maturity (short, intermediate, long) is another matter. There, the SEC has set boundaries:
https://www.sec.gov/rules/final/ic-24828.htm#averageUltimately it comes down to who is categorizing these funds. For example, M* considers Loomis Sayles
Investment Grade Bond Fund, LSIIX, a core-plus fund. Lipper calls it a corporate BBB bond fund. (79% of its bonds are rated BBB or better, and another 9&frac
12;% are unrated.)
Fund Moves in 2020 Hi VintageFreak,
Great post! Most people only want to talk about their winners, so this longneck's for you, big guy! So,.....to the losers.....
FMIJX: the best part of this fund is the quarterly reports 'cause the fund stinks! GLFOX: I owned this for years. Right now, it sucks. Also sold ROGSX. It's a lagger. It got new PMs......still lags. One I still hold down 10+% right now. FSDAX: will buy more as it falls. Funds I would own again, just not now: FNSTX, GIBLXX, PTIAX, YCGEX, FARMX, RAANX. Moves that paid off. Many on buying the crash......lol. I want another one, please.
God bless
the Pudd
