Destinations Low Duration Fixed Income Fund

Overview

The Destinations Low Duration Fixed Income Fund seeks current income and invests in multi-sector fixed income, investment-grade corporate credit, high yield corporate credit and low duration securities.

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

  • CrossingBridge Advisors, LLC is the sub-adviser of CrossingBridge Low Duration High Yield which invests in a number of underlying event driven high yield credit opportunities with an estimated holding life of several months to three years.
  • DoubleLine Capital LP is the sub-adviser of DoubleLine Low Duration which seeks to maximize current income through investing in a variety of fixed income sectors with an average effective duration of three years of less.
Fund performance as of 6/30/17
Annualized
MTD QTD YTD 1 Year 3 Years 5 Years Since
Inception
Destinations Low Duration Fixed Income Fund
0.19%
0.27%
N/A
N/A
N/A
N/A
0.27%
BofA Merrill Lynch 1-3 Year U.S. Treasury Index
-0.08%
0.17%
N/A
N/A
N/A
N/A
0.35%

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.

BofA Merrill Lynch 1-3 U.S. Year Treasury Index Definition: An unmanaged index that tracks the performance of the direct sovereign debt of the U.S. Government having a maturity of at least one year and less than three years. One cannot invest directly in an index.

An investment in the Destinations Low Duration Fixed 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.

The prices of the Fund’s fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers, including governments and their agencies. Generally, the Fund’s fixed income securities will decrease in value if interest rates rise and vice versa. In a low interest rate environment, risks associated with rising rates are heightened.

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.

The risk that debt instruments quality are predominantly speculative. Known as ‘junk bonds,’ these have a higher degree of default risk and may be less liquid than higher-rated bonds, may be subject to greater price volatility.

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: DLDFX
  • CUSIP: 10964R707
  • Benchmark: BofA Merrill Lynch 1-3 Year U.S. Treasury Index
  • Inception date: 03/20/2017
  • Gross expense ratio: 0.97%
  • Net expense ratio: 0.89%*
Daily NAV Date: 09/18/2017

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 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 6/30/17
Annualized
MTD QTD YTD 1 Year 3 Years 5 Years Since
Inception
Inception
Date
Gross
expense
ratio
Net
expense
ratio*
Destinations Low Duration Fixed Income Fund
0.19%
0.27%
N/A
N/A
N/A
N/A
0.27%
3/20/2017
0.97%
0.89%
BofA Merrill Lynch 1-3 Year U.S. Treasury Index
-0.08%
0.17%
N/A
N/A
N/A
N/A
0.35%

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.

BofA Merrill Lynch 1-3 U.S. Year Treasury Index Definition: An unmanaged index that tracks the performance of the direct sovereign debt of the U.S. Government having a maturity of at least one year and less than three years. One cannot invest directly in an index.

Holdings

Security DescriptionTicker SymbolSecurity IDSecurity Type DescriptionQuantityBase Market ValuePercent TNA
SWEDISH KRONACASHSEKCURRENCY-3,005,527.7400-378,320.29-.22
US DOLLARSCASHUSDCURRENCY11,317,837.720011,317,837.726.46
ISHARES CORE 1-5 YEAR USD BOISTB46432F859POOLED INVESTMENTS548,502.000027,660,955.8615.78
CNOOC FINANCE 2.625% 05/05/2012634GAA1CORPORATE BONDS200,000.0000201,172.04.11
COMMONWEALTH BA 2.25% 03/10/202027A0JH3CORPORATE BONDS90,000.000090,638.31.05
WESTPAC BANKING 1.6% 08/19/19961214CY7CORPORATE BONDS70,000.000069,741.98.04
GLOBO COMMUNIC 4.875% 04/11/22P47773AL3CORPORATE BONDS200,000.0000208,540.00.12
BANK OF MONTREAL 2.1% 12/12/1906367TPX2CORPORATE BONDS95,000.000095,653.92.05
BANK OF NOVA SC 2.15% 07/14/20064159JX5CORPORATE BONDS95,000.000095,596.23.05
ROYAL BANK OF CA 1.5% 07/29/1978012KRK5CORPORATE BONDS95,000.000094,509.65.05
MP3 2013-1A A V/R 04/20/2500084QAA9ASSET BACKED589,066.3500589,072.48.34
APID 2013-14A A V/R 04/15/2503764HAA0ASSET BACKED1,000,000.0000999,974.80.57
APID 2013-16A A1 V/R 01/19/2503764UAN3ASSET BACKED1,000,000.0000998,957.50.57
BSPRT 2017-FL1 A V/R 01/15/2105583WAA1ASSET BACKED70,000.000069,970.83.04
CK HUTCHISON I 2.875% 04/05/2212563UAA5CORPORATE BONDS200,000.0000203,098.65.12
HLA 2015-2A A V/R 07/25/2740538KAA0ASSET BACKED425,000.0000424,991.63.24
MDPK 2013-11A A2 V/R 10/23/2555818KAE1ASSET BACKED575,000.0000576,383.39.33
MCLO 2014-7A A1R V/R 10/28/2556577AAJ1ASSET BACKED1,000,000.00001,004,380.40.57
OCP 2014-5A A1 V/R 04/26/2667102SAA2ASSET BACKED250,000.0000249,455.15.14
VENTR 2006-7A A1 V/R 01/20/2292328WAA9ASSET BACKED167,178.0100166,276.25.09
ZAIS2 2014-2A A1 V/R 07/25/2698886YAQ1ASSET BACKED1,000,000.0000999,985.20.57
AGROMERCANTIL S 6.25% 04/10/19G0131LAA6CORPORATE BONDS200,000.0000207,140.00.12
BANCO SANTANDE 3.875% 09/20/2205967FAB2CORPORATE BONDS150,000.0000157,560.66.09
CELULOSA ARAUCO CO 5% 01/21/21151191AT0CORPORATE BONDS200,000.0000213,605.59.12
REPUBLIC OF CHI 3.25% 09/14/21168863AW8GOVERNMENT BONDS200,000.0000209,290.00.12
BANCO DEL ESTA 4.125% 10/07/20B4P2L27CORPORATE BONDS200,000.0000211,025.40.12
COLBUN SA 6% 01/21/20P2867KAC0CORPORATE BONDS200,000.0000216,250.00.12
INVERSIONES CMPC 4.5% 04/25/22P58073AA8CORPORATE BONDS200,000.0000209,710.64.12
BANCO GNB SUDA 3.875% 05/02/18P1265VAB8CORPORATE BONDS200,000.0000200,750.00.11
DOMINICAN REPU 7.5% 05/06/21P3579EAH0GOVERNMENT BONDS200,000.0000222,750.00.13
ORANGE SA 2.75% 02/06/19685218AA7CORPORATE BONDS80,000.000081,086.20.05
REPUBLIC OF GUA 5.75% 06/06/22P5015VAD8GOVERNMENT BONDS200,000.0000218,500.00.12
INDIAN OIL COR 5.625% 08/02/21B4MR909CORPORATE BONDS200,000.0000221,147.40.13
ONGC VIDESH LTD 3.25% 07/15/19BP3YP86CORPORATE BONDS200,000.0000202,740.00.12
ADANI PORTS AND 3.5% 07/29/20Y00130CZ8CORPORATE BONDS200,000.0000203,000.00.12
BHARAT PETROLE 4.625% 10/25/22Y0882ZBH0CORPORATE BONDS200,000.0000214,660.00.12
REPUBLIC OF IN 4.875% 05/05/21Y20721AU3GOVERNMENT BONDS200,000.0000215,506.40.12
SHIRE ACQ INV IR 1.9% 09/23/19SHPG1982481LAA7CORPORATE BONDS95,000.000094,715.12.05
DELEK & AVNER 4.435% 12/30/20BMJJM83CORPORATE BONDS160,000.0000164,404.80.09
INTERNATIONAL 9.125% 06/01/1845903PAA5CORPORATE BONDS1,695,000.00001,661,100.00.95
MEDTRONIC GLOBAL 1.7% 03/28/1958507LAB5CORPORATE BONDS95,000.000095,070.81.05
TRINSEO OP / TR 6.75% 05/01/2289668QAC2CORPORATE BONDS715,000.0000761,832.50.43
T/L LICENSING IP 0% 10/18/2018LX133470LOAN475,470.2900520,639.97.30
IOI INVESTMENT 4.375% 06/27/22B8GJJP4CORPORATE BONDS200,000.0000209,458.40.12
AXIATA SPV2 BH 3.466% 11/19/20BD5WCP0CORPORATE BONDS200,000.0000205,543.00.12
PETRONAS GLOBA 2.707% 03/18/20Y68868AA9CORPORATE BONDS200,000.0000202,358.80.12
TEEKAY CORP 8.5% 01/15/20TK2087900YAA1CORPORATE BONDS1,519,000.00001,534,190.00.88
GOLAR LNG PARTNER V/R 05/22/20BXQ9SM9CORPORATE BONDS600,000.0000577,500.00.33
UNITED MEXICAN S 3.5% 01/21/2191086QBD9GOVERNMENT BONDS350,000.0000367,675.00.21
BANCO SANTANDER M V/R 01/30/24P1507SAD9CORPORATE BONDS200,000.0000209,600.00.12
COMISION FED D 4.875% 05/26/21P30179AJ7CORPORATE BONDS200,000.0000214,000.00.12
NACIONAL FINAN 3.375% 11/05/20P7071QAA2GOVERNMENT BONDS200,000.0000207,500.00.12
NXP BV/NXP FUND 3.75% 06/01/1862947QAQ1CORPORATE BONDS675,000.0000682,222.50.39
T/L JLL/DELTA PATH 0% 04/22/24LX162394LOAN3,000,000.00002,997,870.001.71
MCDERMOTT INTERNAT 8% 05/01/21580037AB5CORPORATE BONDS403,000.0000412,067.50.24
ENA NORTE TRUST 4.95% 04/25/23P3716XAA7CORPORATE BONDS151,816.2400158,146.98.09
GLOBAL BANK CO 5.125% 10/30/19P47718AA2CORPORATE BONDS200,000.0000209,060.00.12
BANCO DE CREDIT 2.25% 10/25/19P09646AH6CORPORATE BONDS200,000.0000200,500.00.11
BANCO INTL DEL 5.75% 10/07/20P1342SAC0CORPORATE BONDS200,000.0000219,700.00.13
CORP FINANCIERA 3.25% 07/15/19P3R94GAF6GOVERNMENT BONDS200,000.0000203,750.00.12
FONDO MIVIVIEN 3.375% 04/02/19P42009AB9GOVERNMENT BONDS200,000.0000204,000.00.12
REPUBLIC OF PHILIP 4% 01/15/21718286BK2GOVERNMENT BONDS200,000.0000213,001.20.12
OVERSEA-CHINESE B V/R 10/15/2469033DAB3CORPORATE BONDS200,000.0000205,474.38.12
UNITED OVERSEAS B V/R 09/19/24BKRQS51CORPORATE BONDS200,000.0000204,296.40.12
DBS GROUP HOLDINGS V/R /PERP/BZCN164CORPORATE BONDS200,000.0000200,110.60.11
HOIST GR HOL V/R 06/29/21/SEK/W3565TAA0CORPORATE BONDS3,000,000.0000379,512.61.22
ASTRAZENECA PL 2.375% 11/16/20046353AK4CORPORATE BONDS70,000.000070,575.15.04
BP CAPITAL MAR 1.676% 05/03/1905565QDC9CORPORATE BONDS75,000.000074,998.37.04
AES CORP/VA V/R 06/01/1900130HBV6CORPORATE BONDS286,000.0000286,357.50.16
AMAZON.COM INC 2.6% 12/05/19023135AL0CORPORATE BONDS75,000.000076,461.75.04
AMAZON.COM INC 1.9% 08/21/20023135AR7CORPORATE BONDS20,000.000020,082.18.01
AMERICAN EXPRESS 2.2% 03/03/200258M0EE5CORPORATE BONDS100,000.0000100,811.26.06
AMERICAN HONDA F 1.2% 07/12/1902665WBE0CORPORATE BONDS90,000.000089,230.73.05
AMERICAN HONDA 1.95% 07/20/2002665WBT7CORPORATE BONDS20,000.000020,044.94.01
AMGEN INC 2.2% 05/11/20031162CM0CORPORATE BONDS120,000.0000120,836.49.07
AMKOR TECHNOLO 6.625% 06/01/21031652BE9CORPORATE BONDS2,000,000.00002,041,980.001.16
ANHEUSER-BUSCH I 1.9% 02/01/19035242AG1CORPORATE BONDS50,000.000050,162.44.03
AVNT 2017-A A 2.41% 03/15/2105352NAA0ASSET BACKED1,412,512.13001,413,264.43.81
BAT CAPITAL CO 2.297% 08/14/2005526DAQ8CORPORATE BONDS40,000.000040,152.88.02
BANK OF AMERIC 2.625% 10/19/2006051GFT1CORPORATE BONDS20,000.000020,278.12.01
BANK 2017-BNK4 X V/R 05/15/5006541FBB4ASSET BACKED1,580,965.6300160,092.53.09
BOMFT 2017-RN2 A V/R 04/28/3207333RAA1ASSET BACKED817,747.0500824,218.21.47
BSCMS 2005-PW10 V/R 12/11/1507387BEE9ASSET BACKED126,318.9000136,734.65.08
BERKSHIRE HATHAW 1.3% 08/15/19084664CK5CORPORATE BONDS70,000.000069,641.40.04
BI-LO LLC/BI-LO 9.25% 02/15/19088611AA6CORPORATE BONDS1,000,000.0000885,000.00.50
BOSTON PROPERT 5.875% 10/15/19BXP1910112RAQ7CORPORATE BONDS65,000.000069,912.71.04
BROADCOM CRP / 2.375% 01/15/2011134LAA7CORPORATE BONDS35,000.000035,230.26.02
CD 2017-CD4 XA V/R 04/10/2712515DAS3ASSET BACKED1,704,939.3000159,053.79.09
CF INDUSTRIES 6.875% 05/01/18CF1812527GAA1CORPORATE BONDS1,069,000.00001,101,070.00.63
CFCRE 2017-C8 XA V/R 05/15/2712532CBE4ASSET BACKED1,395,251.7800160,557.90.09
CFCRE 2017-C8 XB V/R 05/15/2712532CBF1ASSET BACKED287,000.000020,166.06.01
CLNS 2017-IKPR D V/R 06/11/22125639AL8ASSET BACKED47,000.000047,282.45.03
CLNS 2017-IKPR E V/R 06/11/22125639AN4ASSET BACKED47,000.000047,339.06.03
CSAIL 2017-C8 XA V/R 06/15/2712595BAF8ASSET BACKED825,639.850068,955.46.04
COMM 2013-CR9 XA V/R 07/10/2312625UBC6ASSET BACKED24,581,426.7200151,699.36.09
CSMC 2017-LSTK X V/R 05/05/2012651PAC5ASSET BACKED8,157,000.0000128,965.43.07
CSMC 2017-LSTK X V/R 05/05/2012651PAE1ASSET BACKED2,969,000.000019,081.47.01
CSMC 2017-LST 3.229% 04/05/2112651PAL5ASSET BACKED107,000.0000108,706.98.06
CSMC 2017-LSTK D V/R 04/05/2112651PAN1ASSET BACKED128,000.0000128,089.04.07
CSMC 2017-LSTK E V/R 04/05/2112651PAQ4ASSET BACKED47,000.000046,564.48.03
CSMC 2017-CHOP D V/R 06/15/1912651QAL3ASSET BACKED70,000.000070,088.19.04
CVS HEALTH CORP 1.9% 07/20/18126650CH1CORPORATE BONDS70,000.000070,188.02.04
CABLEVISION SY 8.625% 09/15/17CVC1712686CAY5CORPORATE BONDS1,980,000.00001,982,970.001.13
CAESARS ENT RESORT 8% 10/01/2012768XAA2CORPORATE BONDS1,580,000.00001,619,500.00.92
CARDINAL HEALT 1.948% 06/14/1914149YBL1CORPORATE BONDS95,000.000095,063.23.05
CAROLINA BEVE 10.625% 08/01/18143818AA0CORPORATE BONDS1,296,000.00001,307,340.00.75
CATERPILLAR FINL 2.1% 01/10/2014912L6Y2CORPORATE BONDS70,000.000070,503.30.04
CELGENE CORP 2.875% 08/15/20151020AQ7CORPORATE BONDS85,000.000087,135.28.05
CHESTER DOWNS & 9.25% 02/01/20165749AA0CORPORATE BONDS904,000.0000926,600.00.53
CHEVRON CORP 1.991% 03/03/20166764BP4CORPORATE BONDS55,000.000055,540.55.03
CINTAS CORPORATI 2.9% 04/01/2217252MAM2CORPORATE BONDS110,000.0000112,850.61.06
CITIGROUP INC 2.05% 12/07/18172967KE0CORPORATE BONDS80,000.000080,258.15.05
CITIGROUP INC V/R 04/25/22172967LH2CORPORATE BONDS65,000.000065,388.70.04
CLEAN HARBORS I 5.25% 08/01/20184496AJ6CORPORATE BONDS1,450,000.00001,472,765.00.84
CLEARWIRE COMM/ 8.25% 12/01/4018538TAG4CORPORATE BONDS1,770,000.00001,798,762.501.03
COLD 2017-ICE3 A V/R 04/15/24193046AA7ASSET BACKED74,000.000074,186.18.04
COLD 2017-ICE3 C V/R 04/15/24193046AE9ASSET BACKED90,000.000090,338.85.05
COLT 2017-1 A2 V/R 05/27/4719687TAB2ASSET BACKED779,280.6300788,961.17.45
COMCAST CORP 5.15% 03/01/2020030NBA8CORPORATE BONDS85,000.000091,983.54.05
COMM 2013-LC6 XA V/R 01/10/2320048EAZ4ASSET BACKED3,220,854.3100148,544.19.08
CONN 2017-A A 2.73% 07/15/1920824YAA5ASSET BACKED567,402.5500567,993.78.32
CONSOLIDATED EDISO 2% 03/15/20209115AD6CORPORATE BONDS95,000.000095,331.13.05
CLUB 2017-NP1 2.39% 06/15/1821050EAA2ASSET BACKED850,791.5700851,227.09.49
CORNERSTONE CH 9.375% 03/15/1821925AAA3CORPORATE BONDS3,525,000.00003,532,755.002.02
DS SERVICES OF AM 10% 09/01/2123340JAA7CORPORATE BONDS1,855,000.00001,962,590.001.12
DRMT 2017-1A A1 V/R 10/25/2524380TAA4ASSET BACKED602,772.2200604,566.43.34
DRMT 2017-1A A2 V/R 10/25/2524380TAB2ASSET BACKED602,772.2200604,551.66.34
JOHN DEERE CAPI 1.95% 01/08/1924422ETE9CORPORATE BONDS75,000.000075,434.25.04
JOHN DEERE CAPI 1.95% 06/22/2024422ETS8CORPORATE BONDS10,000.000010,048.97.01
DELL INC 5.65% 04/15/1824702RAE1CORPORATE BONDS275,000.0000280,843.75.16
DISH DBS CORP 4.25% 04/01/1825470XAP0CORPORATE BONDS2,443,000.00002,470,483.751.41
DOLLAR TREE INC 5.25% 03/01/20256746AD0CORPORATE BONDS500,000.0000514,062.50.29
EMC CORP 1.875% 06/01/18268648AP7CORPORATE BONDS3,095,000.00003,083,827.081.76
EARN 2017-A A2 2.65% 07/25/2527035BAB3ASSET BACKED477,848.1300478,128.87.27
EXPRESS SCRIPTS 2.25% 06/15/1930219GAH1CORPORATE BONDS90,000.000090,404.85.05
GCAT 2017-2 A1 V/R 04/25/4736155CAA8ASSET BACKED874,334.9900871,660.66.50
GSMS 2013-GC1 2.995% 08/10/1836198FAB8ASSET BACKED140,000.0000141,069.47.08
GSMS 2017-GS6 XA V/R 05/10/2736253PAE2ASSET BACKED2,328,716.4300196,235.58.11
GSMS 2017-500K E V/R 07/15/1936253XAN5ASSET BACKED77,000.000077,072.12.04
GSMS 2017-500K F V/R 07/15/1936253XAQ8ASSET BACKED53,000.000053,082.99.03
GSMS 2017-500K G V/R 07/15/1936253XAS4ASSET BACKED34,000.000034,010.54.02
TEGNA INC 5.125% 10/15/19364725BD2CORPORATE BONDS1,855,000.00001,882,825.001.07
GENERAL MOTORS 2.65% 04/13/2037045XBV7CORPORATE BONDS70,000.000070,578.20.04
GIBRALTAR INDUS 6.25% 02/01/21374689AF4CORPORATE BONDS880,000.0000907,060.00.52
GOLDMAN SACHS GR 2.3% 12/13/1938145GAJ9CORPORATE BONDS80,000.000080,501.90.05
HC2 HOLDINGS INC 11% 12/01/19404139AA5CORPORATE BONDS1,430,000.00001,444,300.00.82
HD SUPPLY INC 5.25% 12/15/2140415RAQ8CORPORATE BONDS3,290,000.00003,454,500.001.97
HRG GROUP INC 7.875% 07/15/1940434JAD2CORPORATE BONDS1,200,000.00001,222,500.00.70
HP ENTERPRISE CO 3.6% 10/15/20HPE2042824CAG4CORPORATE BONDS60,000.000062,254.77.04
HEXION INC 6.625% 04/15/20428302AA1CORPORATE BONDS1,500,000.00001,365,000.00.78
IAC/INTERACTIV 4.875% 11/30/1844919PAF9CORPORATE BONDS982,000.0000986,910.00.56
ICAHN ENTERPRI 4.875% 03/15/19451102BB2CORPORATE BONDS1,694,000.00001,710,940.00.98
IRON MOUNTAIN INC 6% 10/01/2046284VAA9CORPORATE BONDS1,800,000.00001,863,000.001.06
JPMBB 2015-C32 X V/R 09/15/2546590JAY3ASSET BACKED1,454,588.460094,034.93.05
JPMORGAN CHASE 2.25% 01/23/2046625HKA7CORPORATE BONDS120,000.0000120,992.92.07
JPMCC 2007-LDPX V/R 03/15/1746630JAE9ASSET BACKED75,014.620074,936.84.04
JPMCC 2007-LD1 V/R 06/15/4946631BAJ4ASSET BACKED62,700.760064,196.06.04
JPMCC 2014-C20 X V/R 06/15/2446642CBL3ASSET BACKED3,654,415.6700156,911.47.09
JPMCC 2014-FL6 A V/R 09/15/1646643RAA4ASSET BACKED130,180.0200130,543.57.07
KINDER MORGAN I 3.05% 12/01/1949456BAE1CORPORATE BONDS90,000.000091,433.13.05
KRAFT HEINZ FOODS 2% 07/02/1850077LAG1CORPORATE BONDS75,000.000075,180.75.04
KROGER CO 6.15% 01/15/20KR20501044CH2CORPORATE BONDS65,000.000071,073.82.04
LENNAR CORP 4.75% 12/15/17526057BJ2CORPORATE BONDS2,220,000.00002,220,000.001.27
LEVEL 3 FINANC 6.125% 01/15/21527298AY9CORPORATE BONDS1,500,000.00001,535,805.00.88
LEVEL 3 FINANCING V/R 01/15/18527298BA0CORPORATE BONDS276,000.0000276,690.00.16
MHGE PARENT LLC/ 8.5% 08/01/1955303MAA7CORPORATE BONDS1,533,000.00001,533,000.00.87
MUFG AMERICAS H 2.25% 02/10/20553794AB4CORPORATE BONDS70,000.000070,474.81.04
MFT 2017-2A A 2.39% 07/15/2457108PAA3ASSET BACKED462,445.3000463,020.07.26
MCKESSON CORP 2.284% 03/15/19581557BD6CORPORATE BONDS65,000.000065,388.89.04
MICHAELS STORE 5.875% 12/15/20594087AT5CORPORATE BONDS1,800,000.00001,840,500.001.05
MOLSON COORS BR 1.45% 07/15/1960871RAE0CORPORATE BONDS40,000.000039,659.46.02
MSC 2016-BNK2 XA V/R 11/15/4961690YBV3ASSET BACKED2,220,143.8700159,495.14.09
MSC 2016-UB12 XA V/R 11/15/2661691EBB0ASSET BACKED4,281,578.4600224,454.90.13
MSBAM 2016-C32 X V/R 12/15/2661691GAT7ASSET BACKED2,964,087.7300158,445.90.09
MSC 2017-H1 XA V/R 05/15/2761691JAW4ASSET BACKED998,873.720099,471.54.06
MORGAN STANLEY V/R 07/22/2261744YAJ7CORPORATE BONDS95,000.000095,182.31.05
MSC 2011-C1 D V/R 02/15/21617458AS3ASSET BACKED164,000.0000175,883.18.10
MSC 2016-UB11 XA V/R 08/15/2661767FBB6ASSET BACKED1,550,222.6200158,259.44.09
NAI ENTERTAINMENT 5% 08/01/1862875FAB4CORPORATE BONDS1,798,000.00001,800,697.001.03
NATURE'S BOUNT 7.625% 05/15/21628782AJ3CORPORATE BONDS1,555,000.00001,659,962.50.95
NRZT 2017-RPL1 A V/R 04/27/2064829MAA4ASSET BACKED777,224.1100777,467.69.44
NEWELL BRANDS I 3.15% 04/01/21651229AU0CORPORATE BONDS95,000.000097,710.57.06
NIELSEN FINANCE 4.5% 10/01/2065409QBA9CORPORATE BONDS1,080,000.00001,096,200.00.63
PNC FINANCIAL 4.375% 08/11/20PNC/20A693476BL6CORPORATE BONDS60,000.000064,155.60.04
PHILIP MORRIS I 5.65% 05/16/18PM18718172AA7CORPORATE BONDS70,000.000072,012.15.04
PRUDENTIAL FIN 7.375% 06/15/19PRU1974432QBG9CORPORATE BONDS45,000.000049,341.27.03
QUALCOMM INC 2.1% 05/20/20747525AP8CORPORATE BONDS110,000.0000110,814.52.06
RAITF 2017-FL7 A V/R 06/15/2574890EAA5ASSET BACKED127,994.0800128,048.87.07
RAITF 2017-FL7 A V/R 06/15/2574890EAC1ASSET BACKED36,000.000035,999.96.02
REYNOLDS AMERIC 3.25% 06/12/20761713BE5CORPORATE BONDS50,000.000051,518.66.03
REYNOLDS GRP IS 5.75% 10/15/20761735AP4CORPORATE BONDS920,000.0000937,148.80.53
RITE AID CORP 6.75% 06/15/21767754CG7CORPORATE BONDS1,000,000.00001,035,000.00.59
RPT 2017-ROSS A V/R 06/15/2077846EAA3ASSET BACKED35,000.000035,264.75.02
RPT 2017-ROSS B V/R 06/15/2077846EAE5ASSET BACKED35,000.000035,304.12.02
SGR 2017-1 A1 V/R 04/25/47784211AA2ASSET BACKED638,278.1800644,443.37.37
SHERWIN-WILLIAM 2.25% 05/15/20824348AT3CORPORATE BONDS60,000.000060,293.17.03
SILGAN HOLDING 5% 04/01/2827048AP4CORPORATE BONDS1,816,000.00001,840,970.001.05
SIMON PROPERTY G 2.2% 02/01/19828807CQ8CORPORATE BONDS75,000.000075,502.50.04
SCLP 2017-3 A 2.77% 01/25/2283404JAA4ASSET BACKED894,894.3700901,016.97.51
SOFI 2017-C A2 1.75% 03/25/2083405DAB4ASSET BACKED462,792.2300462,855.77.26
SOUTHERN CO 1.85% 07/01/19SO19A842587CQ8CORPORATE BONDS75,000.000075,062.02.04
SCFT 2016-AA A 3.05% 04/25/2985022WAA2ASSET BACKED904,361.6900910,781.30.52
SPRINT COMMUNICATI 9% 11/15/18852061AK6CORPORATE BONDS930,000.00001,004,400.00.57
STAPLES INC 3.75% 01/12/18855030AL6CORPORATE BONDS570,000.0000572,447.80.33
STARWOOD PROPER 3.75% 10/15/1785571BAC9CORPORATE BONDS2,690,000.00002,691,681.251.54
NUVEEN FINANCE 2.95% 11/01/1987246YAA4CORPORATE BONDS45,000.000045,759.93.03
THERMO FISHER S 2.15% 12/14/18883556BL5CORPORATE BONDS80,000.000080,327.62.05
TOYOTA MOTOR CR 1.95% 04/17/2089236TDU6CORPORATE BONDS45,000.000045,216.00.03
UBSCM 2012-C1 XA V/R 05/10/4590269GAG6ASSET BACKED1,942,314.7600152,304.28.09
UBSCM 2017-C1 XA V/R 06/15/5090276EAF4ASSET BACKED1,387,862.8200162,302.78.09
USROF 2016-1III S/UP 08/27/1990352AAA0ASSET BACKED761,278.3700766,298.09.44
US TREAS NTS 1% 03/15/18912828J68GOVERNMENT BONDS1,060,000.00001,059,171.88.60
US TREAS NTS 1.375% 09/30/20912828L65GOVERNMENT BONDS990,000.0000987,447.66.56
US TREAS NTS 0.875% 11/30/17912828M72GOVERNMENT BONDS1,130,000.00001,129,425.23.64
US TREAS NTS 0.875% 03/31/18912828Q45GOVERNMENT BONDS1,270,000.00001,267,817.19.72
US TREAS NTS 0.875% 05/31/18912828R51GOVERNMENT BONDS1,130,000.00001,127,086.72.64
US TREAS NTS 0.75% 10/31/18912828T83GOVERNMENT BONDS430,000.0000427,446.88.24
US TREAS NTS 1.625% 06/30/20912828XH8GOVERNMENT BONDS990,000.0000995,530.08.57
UNITED TECHNOLOG 1.5% 11/01/19913017CF4CORPORATE BONDS55,000.000054,753.05.03
UNITED TECHNOLOG 1.9% 05/04/20913017CM9CORPORATE BONDS40,000.000040,017.69.02
VERIZON COMMUN 2.946% 03/15/2292343VDQ4CORPORATE BONDS90,000.000091,642.39.05
VIASAT INC 6.875% 06/15/2092552VAF7CORPORATE BONDS690,000.0000704,231.25.40
VMWARE INC 2.3% 08/21/20928563AA3CORPORATE BONDS90,000.000090,145.61.05
VOLT 2017-NPL4 A V/R 04/25/4792871XAA8ASSET BACKED727,041.9700733,481.74.42
VOLT 2017-NPL3 A V/R 03/25/4792871YAA6ASSET BACKED869,050.3800878,183.40.50
WBCMT 2007-C33 A V/R 07/15/1792978NAK0ASSET BACKED164,000.0000168,203.70.10
WEBMD HEALTH C 2.625% 06/15/2394770VAM4CORPORATE BONDS1,205,000.00001,202,740.63.69
WELLS ENTERPRIS 6.75% 02/01/2094973BAA9CORPORATE BONDS1,346,000.00001,389,745.00.79
ANTHEM INC 2.3% 07/15/1894973VBE6CORPORATE BONDS70,000.000070,355.54.04
WELLS FARGO & CO 1.5% 01/16/1894974BFG0CORPORATE BONDS65,000.000065,001.46.04
WELLS FARGO & C 2.15% 01/30/20WFC20H94974BGF1CORPORATE BONDS25,000.000025,131.80.01
WFCM 2015-LC22 X V/R 09/15/5894989TBC7ASSET BACKED2,929,831.1000157,056.53.09
T/L REDDY INC CORP 0% 5/1/19LX128969LOAN997,395.9000983,432.36.56
T/L APPVION INC 0% 06/28/19LX130410LOAN542,000.0000525,740.00.30
T/L SUNEDISON INC 0% 5/2/18LX162458LOAN2,568,000.00002,559,012.001.46
RELIANCE HOLDING 5.4% 02/14/22U75888AC8CORPORATE BONDS250,000.0000275,996.37.16
CNPC GENERAL CA 3.95% 04/19/22G22004AB4CORPORATE BONDS200,000.0000211,707.13.12
SINOPEC GRP OVER 2.5% 04/28/20G8201JAB7CORPORATE BONDS200,000.0000201,163.87.11
CHURCH & DWIGHT CO DISC 9/1/1717133WW17SHORT TERMS2,970,000.00002,969,882.981.69
ARROWS ELECTRO DISC 09/05/1704273LW50SHORT TERMS1,800,000.00001,799,568.001.03
AUTONATION INC DISC 10/02/1705330LX24SHORT TERMS2,000,000.00001,996,869.401.14
BOSTON SCIENTI DISC 09/12/1710114AWC9SHORT TERMS1,855,000.00001,854,097.911.06
BOSTON SCIENTI DISC 09/14/201710114AWE5SHORT TERMS1,235,000.00001,234,295.93.70
KANSAS CITY SO DISC 09/13/1748516VWD5SHORT TERMS2,000,000.00001,998,744.801.14
KRAFT HEINZ FOOD DISC 09/06/1750076TW63SHORT TERMS2,970,000.00002,969,144.051.69
MOLEX ELECTRONIC DISC 9/22/1760856RWN5SHORT TERMS2,000,000.00001,998,192.401.14
MOLSON COORS B DISC 09/12/201760871VWC1SHORT TERMS1,235,000.00001,234,399.42.70
ONEOK INC DISC 09/07/1768269EW73SHORT TERMS2,220,000.00002,219,296.481.27

As of 08/31/2017.

Distributions

Fund NameFund CusipDistribution TypeAmount per ShareEx DateReinvest DateReinvest Price
Destinations Low Duration Fixed Income Fund10964R707Dividend0.0176975/30/20175/30/2017$10.00
Destinations Low Duration Fixed Income Fund10964R707Dividend0.0294696/29/20176/29/2017$9.98
Destinations Low Duration Fixed Income Fund10964R707Dividend0.0194047/27/20177/27/2017$9.98
Destinations Low Duration Fixed Income Fund10964R707Dividend0.0228808/30/20178/30/2017$9.98

Fees and expenses

Type Amount
Management fee 0.70%
Distribution and service (12b-1) fee None
Other expenses 0.25%
Acquired Fund Fees and Expenses (AFFE) 0.02%
Total annual fund operating expense 0.97%
Fee waivers and expense reimbursements (0.08%)
Total annual fund operating expenses less fee waivers and expense reimbursements 0.89%*

*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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