The Ladder Select Bond Fund (Institutional Class: LSBIX) Receives '4 Stars' Overall from Morningstar®, out of 491 Funds, respectively, in the US Fund Short-Term Bond Category, based on 3-years of historical risk-adjusted returns as of 10/31/2019.1
On 10/18/2016, Ladder Capital Asset Management LLC (“LCAM”) launched the Ladder Select Bond Fund (“Fund”), and after the ﬁrst three years, it has generated risk-adjusted returns in the top quartile within the Morningstar Short-Term Bond Category.
“We are honored to receive the ‘4 Star’ Morningstar rating for the three-year period,” says Brian Harris, CEO of Ladder Capital Corp (NYSE: LADR). “This recognition highlights our team’s knowledge of commercial real estate and our ability to deliver high quality, risk adjusted returns via a ‘40 Act vehicle.”
“The Fund oﬀers a uniquely positioned no-load mutual fund with a senior secured CRE investment strategy. Our portfolios are designed to deliver income with a consistent focus on capital preservation by implementing a bottom-up credit approach that carefully analyzes the risk characteristics of each security,” explains Craig Sedmak, Portfolio Manager and Managing Director.
The Ladder Select Bond Fund oﬀers an Institutional Class (LSBIX) and is available for purchase at various custodians including: Charles Schwab, TD Ameritrade and Pershing.
1About Morningstar, Inc and the Star Rating System
The Morningstar Rating TM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. LSBIX received 4 out of 5 stars, for the 3-year period ending on 10/31/2019.
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Morningstar® Short-Term Bond Category: Short-term bond portfolios invest primarily in corporate and other investment-grade U.S. fixed-income issues and typically have durations of 1.0 to 3.5 years. These portfolios are attractive to fairly conservative investors, because they are less sensitive to interest rates than portfolios with longer durations. Morningstar calculates monthly breakpoints using the effective duration of the Morningstar Core Bond Index in determining duration assignment. Short-term is defined as 25% to 75% of the three-year average effective duration of the MCBI.