Fund Evaluator:

Bramshill Multi-Strategy Income Instl Overview

Bramshill Multi-Strategy Income Instl (BRLMX) is an actively managed Taxable Bond Multisector Bond fund. Liberty Street launched the fund in 2009.

The investment seeks total return with an emphasis on providing current income. Under normal market conditions, the fund will pursue its investment strategy by investing primarily in securitized products, which represent interests in “pools” of assets, including securities backed by residential real estate, commercial real estate, corporate debt, and loans, and consumer and commercial assets. In addition, the fund may enter into repurchase agreements and reverse repurchase agreements. The fund is non-diversified.

About Bramshill Multi-Strategy Income Instl (BRLMX)

There are 3 members of the management team with an average tenure of 3.67 years: Art DeGaetano (2022), Paul Van Lingen (2022), Ara Balabanian (2022). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US Cash Pay HY TR USD index with a weighting of 100%. Bramshill Multi-Strategy Income Instl has 258 securities in its portfolio. The top 10 holdings constitute 30.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Bramshill Multi-Strategy Income Instl is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Bramshill Multi-Strategy Income Instl has 0.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 88.6% (88.3% domestic bond, 0.3% foreign bond and 0.0% convertible bond). Bramshill Multi-Strategy Income Instl has 11.6% of the portfolio in cash.

Assets Under Management

The fund has $383 million in total assets, which is below the $1 billion average for the Multisector Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

BRLMX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Bramshill Multi-Strategy Income Instl expense ratio is high compared to funds in the Multisector Bond category. Bramshill Multi-Strategy Income Instl has an expense ratio of 1.21%, which is 29% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Bramshill Multi-Strategy Income Instl has a portfolio turnover rate of 51%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 162% for the Multisector Bond category.

Recently, in the month of July 2026, Bramshill Multi-Strategy Income Instl returned -0.7%, which earned it a grade of C, as the Multisector Bond category had an average return of -0.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Bramshill Multi-Strategy Income Instl has a trailing yield of 7.91%, which is above the 5.31% category average. The fund normally distributes its income monthly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Bramshill Multi-Strategy Income Instl Grades

Year to date, the fund has returned 1.8%, 0.9 percentage points better than the category, which translates into a grade of A. The fund has returned 5.2% over the past year (grade of A), 8.2% over the past three years (grade of A) and 3.8% per year over the past five years (grade of A) and 0.9% per year over the past 10 years (grade of F).

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