Destinations Real Assets Fund

Overview

The Destinations Real Assets Fund seeks to provide long-term capital appreciation with some inflation protection and may invest across global real estate, global natural resources, global infrastructure and commodities.

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

  • SailingStone Capital Partners LLC is the sub-adviser of SailingStone Global Natural Resources which employs a concentrated global all cap strategy that seeks to identify companies with “advantaged assets” managed by prudent capital allocators to create value across a commodity cycle.
Fund performance as of 9/30/17
Annualized
MTD QTD YTD 1 Year 3 Years 5 Years Since
Inception
Destinations Real Assets Fund
1.99%
9.03%
N/A
N/A
N/A
N/A
2.60%
MSCI World Index
2.28%
4.96%
N/A
N/A
N/A
N/A
9.02%

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.

MSCI World Index Definition: An unmanaged market-weighted index that consists of securities traded in 23 of the world’s most developed countries. Securities are listed on exchanges in the U.S., Europe, Canada, Australia, New Zealand, and the Far East. The index is calculated with net dividends reinvested in U.S. dollars. One cannot invest directly in an index.

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

Concentration is the risk that issuers in a single country, a small number of countries, or a particular geographic region or issuers in an industry or sector can react similarly to market, economic, political, regulatory, geopolitical, and other conditions.

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. 

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. 

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.

Investment in companies in natural resources industries can be significantly affected by (often rapid) changes in supply of, or demand for, various natural resources.

As a non-diversified fund, the Fund may invest a larger portion of its assets in a smaller number of issuers, which could make it more susceptible to economic or credit risks than a diversified fund. 

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. 

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: DRAFX
  • CUSIP: 10964R509
  • Benchmark: MSCI World Index
  • Inception date: 03/20/2017
  • Gross expense ratio: 1.27%
  • Net expense ratio: 1.15%*
Daily NAV Date: 11/17/2017

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 Real Assets Fund
1.99%
9.03%
N/A
N/A
N/A
N/A
2.60%
3/20/2017
1.27%
1.15%
MSCI World Index
-0.23%
1.43%
N/A
N/A
N/A
N/A
2.79%

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.

MSCI World Index Definition: An unmanaged market-weighted index that consists of securities traded in 23 of the world’s most developed countries. Securities are listed on exchanges in the U.S., Europe, Canada, Australia, New Zealand, and the Far East. The index is calculated with net dividends reinvested in U.S. dollars. One cannot invest directly in an index.

Holdings

Security DescriptionTicker SymbolSecurity IDSecurity Type DescriptionQuantityBase Market ValuePercent TNA
AUSTRALIAN DOLLARCASHAUDCURRENCY11.76009.00.00
CANADIAN DOLLARCASHCADCURRENCY4.33003.36.00
US DOLLARSCASHUSDCURRENCY8,301,179.83008,301,179.834.21
KOSMOS ENERGY LTDKOSB53HHH8COMMON STOCK835,406.00006,415,918.083.25
FIRST QUANTUM MINERALS L /CAD/2347608COMMON STOCK1,048,164.000011,725,720.235.95
HUDBAY MINERALS INC /CAD/HBM443628102COMMON STOCK219,418.00001,631,303.68.83
PEYTO EXPLORATION & DEV /CAD/717046106COMMON STOCK447,581.00006,107,004.883.10
TOURMALINE OIL CORP /CAD/89156V106COMMON STOCK362,080.00006,627,419.803.36
WHITECAP RESOURCES INC /CAD/B418WK4COMMON STOCK946,600.00006,795,500.433.45
TURQUOISE HILL RES LTDTRQ900435108COMMON STOCK6,442,818.000019,779,451.2610.03
OPHIR ENERGY PLC /GBP/B24CT19COMMON STOCK1,971,746.00001,709,136.30.87
ANTERO RESOURCES CORPAR03674X106COMMON STOCK635,750.000012,333,550.006.26
CABOT OIL & GAS CORPCOG127097103COMMON STOCK259,416.00007,185,823.203.65
CENTENNIAL RESOURCE DEVELO-ACDEV15136A102COMMON STOCK121,630.00002,363,270.901.20
CONCHO RESOURCES INCCXO20605P101COMMON STOCK50,717.00006,806,728.573.45
DENBURY RESOURCES INCDNR247916208COMMON STOCK1,438,860.00001,769,797.80.90
CDEV PIPE 233KZN6COMMON STOCK257,973.00005,012,415.392.54
ISHARES CORE US REIT ETFUSRT464288521POOLED INVESTMENTS1,113,959.000054,350,059.6127.57
LAREDO PETROLEUM INCLPI516806106COMMON STOCK946,991.000011,288,132.725.73
NOBLE ENERGY INCNBL655044105COMMON STOCK245,400.00006,839,298.003.47
RANGE RESOURCES CORPRRC75281A109COMMON STOCK678,744.000012,292,053.846.24
SRC ENERGY INCSRCI78470V108COMMON STOCK706,188.00006,737,033.523.42
US SILICA HOLDINGS INCSLCA90346E103COMMON STOCK35,450.00001,081,579.50.55

As of 10/31/2017.

Distributions

Fund NameFund CusipDistribution TypeAmount per ShareEx DateReinvest DateReinvest Price

Fees and expenses

Type Amount
Management fee 1.00%
Distribution and service (12b-1) fee None
Other expenses 0.25%
Acquired Fund Fees and Expenses (AFFE) 0.02%
Total annual fund operating expense 1.27%
Fee waivers and expense reimbursements (0.12%)
Total annual fund operating expenses less fee waivers and expense reimbursements 1.15%*

*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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