Berwyn Income Fund

For investors desiring current income while maintaining some potential for capital appreciation, no-load Berwyn Income Fund has filled a unique role since 1987.

Overview

Overview

The Berwyn Income Fund is managed utilizing Chartwell Investment Partners’ value-oriented security selection process. While the majority of Berwyn Income Fund’s portfolio is invested in bonds, it may invest up to 30% of its assets in dividend-paying common stocks. The fund’s balanced, income-oriented approach may afford a greater level of price stability than an all equity portfolio.

Investment Objectives

Investment Objectives

Berwyn Income Fund’s objective is to provide investors with current income while seeking to preserve capital.

Performance

Performance

Average Annual Total Returns
As of February 28, 2017
Time Period Month 1 Year 3 Years 5 Years 10 Years Inception (9/3/1987)
BERIX 0.51% 9.76% 2.69% 5.65% 6.70% 8.54%
BENCHMARK RETURNS AS OF MOST RECENT CALENDAR QUARTER END (12/31/16)
  QTR 1 YR 3 YRS 5 YRS 10 YRS
BERIX 0.02% 8.73% 2.80% 6.32% 6.77%
BIG¹ -3.03% 2.66% 3.01% 2.22% 4.43%
MLHY² 1.88% 17.49% 4.72% 7.35% 7.34%
Lipper Income Index³ -0.01% 6.86% 3.40% 5.93% 4.34%

¹ BIG: Citigroup Broad Investment Grade Index, a broad bond index measuring the performance of the U.S. investment grade bond market, from short to long-dated maturities.

² MLHY: Merrill Lynch High Yield Master II Index, an Index of all sectors of the non-investment grade bond market.

³ Lipper Income Fund Index: The Index measures performance for funds that generate income using equity securities, bonds, cash, and cash equivalents. 

Investors cannot invest directly in an index.

Note: Returns for YTD and quarter not annualized.

Past performance does not guarantee future results. Investment fund and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data cited. Current month end data is available at www.berwynfunds.com.

Top Ten Holdings

Top Ten Holdings

AS OF DECEMBER 31, 2016

Holding

% of Investments

Ciena Corp. CVB 0.875%
due 6/15/17
3.0
Symantec Corp. 2.75%
due 6/15/17
2.5
AstraZeneca PLC 5.9%
due 9/15/17
2.1
Roper Tech. 1.85%
due 11/15/17
2.1
Nuance Comm. 2.75%
due 11/1/31
2.0

Holding

% of Investments

Newell Brands Inc 2.05%
due 12/1/17
1.9
Interpublic Group 2.25%
due 11/15/17
1.8
Apple Inc. 3.85%
due 5/4/43
1.8
Nintendo Co. ADR 1.7
NetApp Inc. 2.0%
due 12/15/17
1.6

CVB = Convertible Bond, PFD = Preferred

Figures unaudited. For informational purposes only. Holdings are subject to change at any time.

Fund Portfolio Composition

Fund Portfolio Composition

AS OF DECEMBER 31, 2016
  • Common Stock19.0%
  • Convertible Bonds8.1%
  • Corporate Bonds48.1%
  • Preferred Stock3.8%
  • Short-Term Invst.21.0%

Fund Dividend Information

Fund Dividend Information

Please visit our dedicated Fund Distributions Page for more information on the Berwyn Income Fund’s quarterly dividends.

Investment Risks

Investment Risks

Investing in any mutual fund involves risk, including the risk that you may lose all or part of the money you invest. The Fund invests in both fixed income and equity securities. Its investments in fixed-income securities are subject to such risks as: interest rate risk; call risk; default risk; high-yield (junk bond) risk; and unrated bond risk. The Fund also invests in equity securities which carry the potential for unpredictable drops in value and periods of lackluster performance.

Download Fund fact sheet Download BERIX Presentation BERIX Investment Policy Learn more about the fund atMorningstar

Fund Facts

NAV (3/23/17)
13.73

Ticker Symbol
BERIX

CUSIP #
46141Q493

Load
No-Load

12B-1 Fee
None

Total Net Assets
$1.75 billion (as of 9/30/16)

Objective
Current Income

30-Day SEC Yield
1.93% (as of 9/30/16)

Inception Date
9/3/87

Dividends
Quarterly

Expense Ratio
0.67%*

Duration
2.19 years (as of 9/30/16)**


* Includes 0.03% of Acquired Fund Fees and Expenses


** Calculated on Fund's bond portfolio, including cash

Additional Information

Minimum Initial Purchase

$1,000/$1,000 IRA

Advisor

Chartwell Investment Partners, LLC
1205 Westlakes Drive, Suite 100
Berwyn, PA 19312
610-296-7222
877-454-5536

Distributor

Distributed by IMST Distributors, LLC

Transfer Agent

UMB Fund Services, Inc.
235 W. Galena Street
Milwaukee, WI 53212

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This is not an investment recommendation or a solicitation to become a client of Chartwell Investment Partners, LLC.

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IMST Distributors, LLC is a FINRA registered broker-dealer.

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