Fund Evaluator:

iMGP Low Duration Income Institutional Overview

iMGP Low Duration Income Institutional (MAHIX) is an actively managed Taxable Bond Nontraditional Bond fund. iM Global Partner Fund Management launched the fund in 2018.

The investment seeks to achieve long-term returns with lower risk and lower volatility than the stock market, and with relatively low correlation to stock and bond market indexes; high level of current income is a secondary consideration. The fund invests in a mix of strategies that the advisor believes offer risk-return characteristics that are attractive individually and even more compelling collectively. Under normal market conditions, the advisor does not expect to invest more than 25% of its total assets in emerging market securities the advisor defines an emerging market country as any country that is included in the MSCI Emerging Markets Index.

About iMGP Low Duration Income Institutional (MAHIX)

There are 10 members of the management team with an average tenure of 6.79 years: Anne Walsh (2018), Andrew Hofer (2018), Derek Devens (2018), Adam Bloch (2018), Neil Hohmann (2018), Steven Brown (2018), Paul Kunz (2018), Rory Ewing (2021), Eric Zhou (2022), Evan Serdensky (2023). 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 High Yield TR USD index with a weighting of 100%. iMGP Low Duration Income Institutional has 872 securities in its portfolio. The top 10 holdings constitute 15.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

iMGP Low Duration Income Institutional is part of the Fixed Income global asset class and is within the Taxable Bond fund group. iMGP Low Duration Income Institutional has 10.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.4%. There is 0.0% allocated to foreign stock, and 4.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 88.4% (77.6% domestic bond, 10.9% foreign bond and 0.0% convertible bond). iMGP Low Duration Income Institutional has 6.6% of the portfolio in cash.

Assets Under Management

The fund has $247 million in total assets, which is below the $663 million average for the Nontraditional 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.

MAHIX 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 iMGP Low Duration Income Institutional expense ratio is high compared to funds in the Nontraditional Bond category. iMGP Low Duration Income Institutional has an expense ratio of 1.02%, which is 28% lower than its category average, making the fund expense ratio grade a B. 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. iMGP Low Duration Income Institutional has a portfolio turnover rate of 97%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 304% for the Nontraditional Bond category.

Recently, in the month of July 2026, iMGP Low Duration Income Institutional returned -0.4%, which earned it a grade of D, as the Nontraditional Bond category had an average return of -0.2%. 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.

iMGP Low Duration Income Institutional has a trailing yield of 7.64%, which is above the 4.94% 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.

iMGP Low Duration Income Institutional Grades

Year to date, the fund has returned 2.0%, 0.8 percentage points better than the category, which translates into a grade of B. The fund has returned 5.7% over the past year (grade of A), 7.9% over the past three years (grade of A) and 4.9% per year over the past five years (grade of A).

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