Destinations Equity Income Fund

Overview

The Destinations Equity Income Fund seeks to provide a high level of current income with long-term capital appreciation, investing primarily in dividend-paying equity securities.

Employing a multi-manager approach, the Fund currently allocates assets among the following sub-advisers:

  • Columbia Management Investments Advisers, LLC is the sub-adviser of Columbia Dividend Opportunity which employs a contrarian investment philosophy with a focus on companies that have the potential to generate strong, sustainable free cash flow from operations , leading to dividend opportunities.
  • Federated Equity Management Company of Pennsylvania is the sub-adviser of Federated Strategic Value Dividend which employs a bottom-up, fundamental approach with an emphasis on high-yielding, dividend growing stocks.
Fund performance as of 9/30/17
Annualized
MTD QTD YTD 1 Year 3 Years 5 Years Since
Inception
Destinations Equity Income Fund
2.60%
3.01%
N/A
N/A
N/A
N/A
4.09%
S&P 500 Index
2.06%
4.48%
N/A
N/A
N/A
N/A
7.05%

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month-end may be obtained by calling 1-877-771-7979. Year-to-date (YTD) returns are not listed for the Funds as a full year of performance does not yet exist.

*Effective March 20, 2017, the Fund’s adviser, Brinker Capital, Inc. (“Brinker” or the “Adviser”), has contractually agreed to waive a portion of its management fee for a period of one year as necessary to keep the Fund’s management fee from exceeding 0.39% more than the total amount of sub-advisory fees paid by the Adviser. This contractual waiver will only apply if the Fund’s total management fees exceed the total amount of sub-advisory fees paid by the Adviser plus 0.39%, and will not affect the Fund’s total management fees if they are less than such amount. This fee waiver and reimbursement agreement shall remain in effect until June 30, 2018. The agreement may be amended or terminated only with the consent of the Board of Trustees.

S&P 500 Index Definition: Widely regarded as the best single gauge of large cap U.S. equities. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization. One cannot invest directly in an index.

An investment in the Destinations Equity Income Fund is subject to risk, including the possible loss of principal amount invested.

Derivatives, such as futures, involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues include tax issues, increased potential for losses and/or costs to the Fund, and a potential reduction in gains to the Fund.

Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including the political, regulatory, economic, social, diplomatic and other conditions or events, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies. Risks of foreign investment tend to be greater in emerging markets, which tend to be more likely to experience political turmoil or rapid change to market or economic conditions.

Mid-capitalization companies may be newer or less established than large-capitalization companies, and may have limited resources, products and markets, can be more volatile and may be less liquid.

Stocks of smaller companies may be subject to more abrupt or erratic market movements than stocks of larger, more established companies and typically are traded in lower volume, are less liquid.

Real estate investment trusts (REITs) are trusts that invest primarily in commercial real estate or real estate-related loans. Risks commonly associated with the direct ownership of real estate include fluctuations in the value of underlying properties, defaults by borrowers or tenants, changes in interest rates and risks related to general or local economic conditions.

Liquidity risk refers to the possibility that securities cannot be readily sold within seven days at approximately the price at which the Fund has valued them.

With securities lending risk, the Fund may lose money from securities lending if, for example, it is delayed in or prevented from selling the collateral after the loan is made or recovering the securities loaned or if it incurs losses on the reinvestment of cash collateral.

Fund facts
  • Ticker: DGEFX
  • CUSIP: 10964R400
  • Benchmark: S&P 500 Index
  • Inception date: 03/20/2017
  • Gross expense ratio: 1.06%
  • Net expense ratio: 0.92%*
Daily NAV Date: 10/20/2017

Management team

  • Jeffrey W. Raupp
    Jeffrey W. Raupp Director of Investments

    Jeffrey W. Raupp, CFA, MBA, is Director of Investments at Brinker Capital with portfolio management responsibilities for the Destinations program. He also serves as chair of Brinker Capital’s asset allocation committee. Mr. Raupp joined Brinker Capital in 1996 as an operations manager and has been a portfolio manager for the Destinations program since 2001. Prior to joining Brinker Capital, Mr. Raupp was an electronic engineer and project manager for a small electronics firm. He also served as an officer in the United States Army. Mr. Raupp has a B.S. in Mechanical Engineering from the University of Delaware and a MBA in Finance from Villanova University.

  • Amy L. Magnotta
    Amy L. Magnotta Senior Vice President

    Amy L. Magnotta, CFA, is a Senior Vice President at Brinker Capital with portfolio management responsibilities for the Destinations program. Ms. Magnotta joined Brinker Capital in 2006 as a senior analyst and has been portfolio manager for the Destinations program since 2007. Prior to joining Brinker Capital, Ms. Magnotta was an associate at Franklin Park Associates from 2004 to 2006 and an associate at BlackRock from 2001 to 2004. Ms. Magnotta has a B.S. in Finance from Lehigh University.

  • Leigh A. Lowman
    Leigh A. Lowman Investment Manager

    Leigh A. Lowman, CFA is an Investment Manager at Brinker Capital with portfolio management responsibilities for the Destinations program. Prior to joining Brinker Capital in 2015, Ms. Lowman was an outreach analyst for The Investment Fund for Foundations (TIFF) and a senior associate for Mondrian Investment Partners. Ms. Lowman was previously at Brinker Capital from 2004 to 2010 as an investment associate and operations analyst. Ms. Lowman has a B.A. in Economics from Wittenberg University.

Performance

Fund performance as of 9/30/17
Annualized
MTD QTD YTD 1 Year 3 Years 5 Years Since
Inception
Inception
Date
Gross
expense
ratio
Net
expense
ratio*
Destinations Equity Income Fund
2.60%
3.01%
N/A
N/A
N/A
N/A
4.09%
3/20/2017
1.06%
0.92%
S&P 500 Index
2.06%
4.48%
N/A
N/A
N/A
N/A
7.05%

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month-end may be obtained by calling 1-877-771-7979. Year-to-date (YTD) returns are not listed for the Funds as a full year of performance does not yet exist.

*Effective March 20, 2017, the Fund’s adviser, Brinker Capital, Inc. (“Brinker” or the “Adviser”), has contractually agreed to waive a portion of its management fee for a period of one year as necessary to keep the Fund’s management fee from exceeding 0.39% more than the total amount of sub-advisory fees paid by the Adviser. This contractual waiver will only apply if the Fund’s total management fees exceed the total amount of sub-advisory fees paid by the Adviser plus 0.39%, and will not affect the Fund’s total management fees if they are less than such amount. This fee waiver and reimbursement agreement shall remain in effect until June 30, 2018. The agreement may be amended or terminated only with the consent of the Board of Trustees.

S&P 500 Index Definition: Widely regarded as the best single gauge of large cap U.S. equities. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization. One cannot invest directly in an index.

Holdings

Security DescriptionTicker SymbolSecurity IDSecurity Type DescriptionQuantityBase Market ValuePercent TNA
BRITISH POUNDSCASHGBPCURRENCY-31,971.8800-42,837.52-.01
US DOLLARSCASHUSDCURRENCY6,709,386.27006,709,386.271.92
CAN IMPERIAL BK OF COMME /CAD/BCM136069101COMMON STOCK9,900.0000866,289.68.25
BCE INC /CAD/B188TH2COMMON STOCK123,550.00005,789,301.861.65
BCE INCBCE05534B760COMMON STOCK29,360.00001,374,928.80.39
ENBRIDGE INCENB29250N105COMMON STOCK10,823.0000452,834.32.13
NOKIA OYJ /EUR/5902941COMMON STOCK235,348.00001,413,101.39.40
VEOLIA ENVIRONNEMENT /EUR/4031879COMMON STOCK42,171.0000974,450.45.28
ORANGE SA /EUR/5176177COMMON STOCK60,497.0000991,051.37.28
SANOFI /EUR/5671735COMMON STOCK46,728.00004,639,885.631.33
TOTAL SA /EUR/B15C557COMMON STOCK94,391.00005,070,091.461.45
MUENCHENER RUECKVER AG-R /EUR/MUV25294121COMMON STOCK11,900.00002,544,395.54.73
SIEMENS AG-REG /EUR/SIE5727973COMMON STOCK5,420.0000763,615.33.22
TEVA PHARMACEUTICAL-SP ADRTEVA881624209COMMON STOCK32,145.0000565,752.00.16
ENI SPA /EUR/ENI7145056COMMON STOCK91,911.00001,520,878.87.43
LYONDELLBASELL INDU-CL ALYBN53745100COMMON STOCK8,105.0000802,800.25.23
ERICSSON LM-B SHS /SEK/ERICB5959378COMMON STOCK174,258.00001,000,515.19.29
BAE SYSTEMS PLC /GBP/0263494COMMON STOCK90,207.0000763,255.21.22
IMPERIAL BRANDS PLC /GBP/0454492COMMON STOCK127,670.00005,446,507.391.56
SSE PLC /GBP/0790873COMMON STOCK40,264.0000753,649.65.22
BP PLC /GBP/BP/0798059COMMON STOCK501,300.00003,205,865.66.92
GLAXOSMITHKLINE PLC /GBP/GSK0925288COMMON STOCK309,121.00006,165,006.361.76
ASTRAZENECA PLC /GBP/AZN0989529COMMON STOCK56,000.00003,717,815.771.06
ROYAL DUTCH SHELL PLC-A /GBP/B03MLX2COMMON STOCK81,435.00002,453,353.75.70
NATIONAL GRID PLC /GBP/BDR05C0COMMON STOCK342,108.00004,238,120.491.21
VODAFONE GROUP PLC /GBP/BH4HKS3COMMON STOCK2,276,538.00006,368,858.171.82
BP PLC-SPONS ADRBP055622104COMMON STOCK93,094.00003,577,602.421.02
VODAFONE GROUP PLC-SP ADR92857W308COMMON STOCK50,190.00001,428,407.40.41
AT&T INCT00206R102COMMON STOCK345,564.000013,535,741.883.87
ABBVIE INCABBV00287Y109COMMON STOCK88,610.00007,873,884.602.25
ALTRIA GROUP INCMO02209S103COMMON STOCK151,191.00009,588,533.222.74
AMEREN CORPORATIONAEE023608102COMMON STOCK23,947.00001,385,094.48.40
AMERICAN AIRLINES GROUP INCAAL02376R102COMMON STOCK16,979.0000806,332.71.23
AMERICAN ELECTRIC POWERAEP025537101COMMON STOCK41,877.00002,941,440.48.84
BAKER HUGHES A GE CO05722G100COMMON STOCK26,712.0000978,193.44.28
BANK OF AMERICA CORPBAC060505104COMMON STOCK69,567.00001,762,827.78.50
CF INDUSTRIES HOLDINGS INCCF125269100COMMON STOCK12,059.0000423,994.44.12
CENTURYLINK INCCTL156700106COMMON STOCK79,516.00001,502,852.40.43
CHEVRON CORPCVX166764100COMMON STOCK84,331.00009,908,892.502.83
CISCO SYSTEMS INCCSCO17275R102COMMON STOCK160,799.00005,407,670.371.55
COCA-COLA CO/THEKO191216100COMMON STOCK125,175.00005,634,126.751.61
CONSOLIDATED EDISON INCED209115104COMMON STOCK10,750.0000867,310.00.25
CROWN CASTLE INTL CORPCCI22822V101REIT - Real Estate Invesment Trust49,825.00004,981,503.501.42
DTE ENERGY COMPANYDTE233331107COMMON STOCK9,553.00001,025,610.08.29
DEVON ENERGY CORPDVN25179M103COMMON STOCK29,526.00001,083,899.46.31
GRAPHICS PACKAGING HOLDING CO25190K334OTHER EQUITY45,979.0000627,659.33.18
DIGITAL REALTY TRUST INCDLR253868103REIT - Real Estate Invesment Trust13,675.00001,618,162.75.46
DOMINION ENERGY INCD25746U109COMMON STOCK58,025.00004,463,863.251.28
DOWDUPONT INCDWDP26078J100COMMON STOCK58,291.00004,035,485.931.15
DUKE ENERGY CORPDUK26441C204COMMON STOCK92,226.00007,739,605.922.21
EASTMAN CHEMICAL COEMN277432100COMMON STOCK6,720.0000608,092.80.17
ENTERGY CORPETR29364G103COMMON STOCK14,858.00001,134,556.88.32
EXELON CORPEXC30161N101COMMON STOCK35,884.00001,351,750.28.39
EXXON MOBIL CORPXOM30231G102COMMON STOCK85,794.00007,033,392.122.01
GENERAL MILLS INCGIS370334104COMMON STOCK27,875.00001,442,810.00.41
GRAPHIC PACKAGING HOLDING COGPK388689101COMMON STOCK45,219.0000630,805.05.18
INTEL CORPINTC458140100COMMON STOCK170,443.00006,490,469.441.85
INTL BUSINESS MACHINES CORPIBM459200101COMMON STOCK9,425.00001,367,379.00.39
INTERNATIONAL PAPER COIP460146103COMMON STOCK22,610.00001,284,700.20.37
ISHARES CORE HIGH DIVIDEND EHDV46429B663POOLED INVESTMENTS755,902.000064,969,776.9018.56
JPMORGAN CHASE & COJPM46625H100COMMON STOCK26,316.00002,513,441.16.72
JOHNSON & JOHNSONJNJ478160104COMMON STOCK16,294.00002,118,382.94.61
KANSAS CITY SOUTHERNKSU485170302COMMON STOCK12,033.00001,307,746.44.37
KIMBERLY-CLARK CORPKMB494368103COMMON STOCK16,675.00001,962,314.00.56
KOHLS CORPKSS500255104COMMON STOCK28,477.00001,299,975.05.37
LAS VEGAS SANDS CORPLVS517834107COMMON STOCK25,608.00001,643,009.28.47
LOCKHEED MARTIN CORPLMT539830109COMMON STOCK2,140.0000664,020.60.19
MERCK & CO. INC.MRK58933Y105COMMON STOCK126,093.00008,073,734.792.31
MICROSOFT CORPMSFT594918104COMMON STOCK48,829.00003,637,272.211.04
MORGAN STANLEYMS617446448COMMON STOCK31,285.00001,506,998.45.43
NATIONAL RETAIL PROPERTIESNNN637417106REIT - Real Estate Invesment Trust19,775.0000823,826.50.24
NORDSTROM INCJWN655664100COMMON STOCK18,011.0000849,218.65.24
OCCIDENTAL PETROLEUM CORPOXY674599105COMMON STOCK122,139.00007,842,545.192.24
OMEGA HEALTHCARE INVESTORSOHI681936100REIT - Real Estate Invesment Trust39,050.00001,246,085.50.36
PPL CORPPPL69351T106COMMON STOCK149,297.00005,665,821.151.62
PACWEST BANCORPPACW695263103COMMON STOCK15,817.0000798,916.67.23
PAYCHEX INCPAYX704326107COMMON STOCK15,225.0000912,891.00.26
PEPSICO INCPEP713448108COMMON STOCK5,750.0000640,722.50.18
PFIZER INCPFE717081103COMMON STOCK124,578.00004,447,434.601.27
PHILIP MORRIS INTERNATIONALPM718172109COMMON STOCK140,375.000015,583,028.754.45
PROCTER & GAMBLE CO/THEPG742718109COMMON STOCK53,759.00004,890,993.821.40
PRUDENTIAL FINANCIAL INCPRU744320102COMMON STOCK16,218.00001,724,297.76.49
PUBLIC SERVICE ENTERPRISE GPPEG744573106COMMON STOCK40,100.00001,854,625.00.53
PUBLIC STORAGE REITPSA74460D109REIT - Real Estate Invesment Trust3,225.0000690,117.75.20
QUALCOMM INCQCOM747525103COMMON STOCK27,406.00001,420,727.04.41
SOUTHERN CO/THESO842587107COMMON STOCK39,440.00001,938,081.60.55
TARGET CORPTGT87612E106COMMON STOCK56,451.00003,331,173.51.95
UNION PACIFIC CORPUNP907818108COMMON STOCK6,240.0000723,652.80.21
UNITED CONTINENTAL HOLDINGSUAL910047109COMMON STOCK9,541.0000580,856.08.17
UNITED PARCEL SERVICE-CL BUPS911312106COMMON STOCK17,350.00002,083,561.50.60
VALERO ENERGY CORPVLO91913Y100COMMON STOCK33,321.00002,563,384.53.73
VENTAS INCVTR92276F100REIT - Real Estate Invesment Trust39,450.00002,569,378.50.73
VERIZON COMMUNICATIONS INCVZ92343V104COMMON STOCK167,920.00008,310,360.802.37
WESTROCK COWRK96145D105COMMON STOCK6,463.0000366,645.99.10
WHIRLPOOL CORPWHR963320106COMMON STOCK9,525.00001,756,791.00.50
XCEL ENERGY INCXEL98389B100COMMON STOCK45,809.00002,167,681.88.62

As of 09/29/2017.

Distributions

Fund NameFund CusipDistribution TypeAmount per ShareEx DateReinvest DateReinvest Price
Destinations Equity Income Fund10964R400Dividend0.1054926/29/20176/29/2017$10.00
Destinations Equity Income Fund10964R400Dividend0.0806479/28/20179/28/2017$10.22

Fees and expenses

Type Amount
Management fee 0.80%
Distribution and service (12b-1) fee None
Other expenses 0.24%
Acquired Fund Fees and Expenses (AFFE) 0.02%
Total annual fund operating expense 1.06%
Fee waivers and expense reimbursements (0.14%)
Total annual fund operating expenses less fee waivers and expense reimbursements 0.92%*

*Effective March 20, 2017, the Fund’s adviser, Brinker Capital, Inc. (“Brinker” or the “Adviser”), has contractually agreed to waive a portion of its management fee for a period of one year as necessary to keep the Fund’s management fee from exceeding 0.39% more than the total amount of sub-advisory fees paid by the Adviser. This contractual waiver will only apply if the Fund’s total management fees exceed the total amount of sub-advisory fees paid by the Adviser plus 0.39%, and will not affect the Fund’s total management fees if they are less than such amount. This fee waiver and reimbursement agreement shall remain in effect until June 30, 2018. The agreement may be amended or terminated only with the consent of the Board of Trustees.

Individual Investor Contact Information
1-877-771-7979
Monday – Friday 8:30 am – 5:00 pm EST

 

Or write to the Funds at:
Brinker Capital Destinations Funds
P.O. Box 2175
Milwaukee, WI 53201

 

Overnight/Certified Mail:
Brinker Capital Destinations Funds
235 W. Galena Street
Milwaukee, WI 53212
Investment Adviser
Brinker Capital, Inc.
1055 Westlakes Drive, Suite 250
Berwyn, PA 19312
www.brinkercapital.com

 

Distributor
Foreside Fund Services, LLC
Three Canal Plaza, Suite 100
Portland, ME 04101
www.foreside.com

 

Mutual fund investing involves risk. The value of your investment in a Fund could go down. Multi-investment management styles may lead to overlapping securities transactions and higher transaction expenses compared to single investment management styles. Outcomes depend on the skill of the sub-advisers and adviser and the allocation of assets amongst them, as well as market fluctuations and industry/economic trends etc.

Before investing you should consider the Destinations Funds’ investment objectives, risks, charges and expenses carefully. The prospectus contains this and other information about the Funds. You may obtain a copy of the prospectus by calling 1-877-771-7979. The prospectus should be read carefully before investing.

Any tax or legal information provided is not an exhaustive interpretation of some of the current income tax regulations. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Funds nor any of their representatives may give legal or tax advice.

The Destinations Funds are distributed by Foreside Fund Services, LLC.

Copyright © 2017 Brinker Capital Destinations Trust. All rights reserved.

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