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Hi there. Yogi is correct -- we decommissioned the stewardship grades some years ago when we rolled out the 'Analyst Ratings' (now called 'Medalist Ratings'), one pillar of which was 'Parent'. In essence, we relocated the stewardship assessments fro…
Hi @ted. I lurk more than I contribute but hope I've made a positive contribution in the rare instances I've chimed in (most recently in a discussion of a truly weird set of changes affecting a Salient EM Corporate Bond fund, as I recall).
Thanks f…
Gotcha. So you're just on the SEC site and then judge it by KB size, huh? (I was doing a variation of the same but the parser I was on would provide a page count...1 page was generally a flag for me to pop it open to see if it was a merger; sub-5 pa…
I think persistence studies of this sort are a bit of a red herring when you consider that not even long-term 'successful' active funds would clear the bar they set. They're measuring something but I'm not sure what it proves. More thoughts here.
h…
Thanks MSF! Sorry for saying 'a few years ago' - was trying to be helpful but was apparently imprecise. My bad.
Re our website -- that's quite strange. I'm on the 'old' site and am able to input 'Salient EM' and pull up the fund. I will bring this …
I didn't ask but I'd assume the same. Maybe the SAI had to be filed regardless (due to deadlines/timing) so that would explain it. Sometimes firms will insert 'subsequent event' passages into their filings but that's probably more typical for an ann…
Salient acquired Forward Funds a few years ago. (The filing nomenclature is likely just legacy/legal.) See here: http://www.prnewswire.com/news-releases/salient-partners-to-acquire-forward-management-300034259.html
I'd like to think our website's h…
Yeah, it's definitely confusing whether they're closing the whole fund or just some shareclasses. I looked yesterday at the filing you'd linked for info about a pending liquidation on any of the funds/shareclasses and it was silent on that point so …
It's not crystal-clear to me if they're planning to liquidate entire fund or just selected shareclasses. Reason I say this is because they separately filed a prospectus amendment that would lower the fund's fees. Not sure why they'd bother to do tha…
Good catch. It appears that the C, I, and P shareclasses of the Sherwood Forest fund were wiped from our DB for whatever reason, maybe at the time of the merger. (The assets were mostly in the I shares, as you correctly note.) That's why I didn't se…
It's in midst of ~20% drawdown which began in earnest in Feb. 2015. Very unusual situation in that the subadvisor, Market Concepts LLC, seems to run almost no money outside of the fund. When comparing assets in their ADV to assets reported for fund,…