Destinations Real Assets Fund
Overview
The Destinations Real Assets Fund seeks to provide long-term capital appreciation and invests globally across areas of real assets including infrastructure, real estate, and natural resources.
Employing a multi-manager approach, the Fund currently allocates assets among the following sub-advisers:
- Delaware Investments Fund Advisers is the sub-adviser of the Macquarie Diversified Real Assets strategy which dynamically allocates among dedicated infrastructure, real estate, and natural resources strategies that focus on fundamental research to identify attractive investment opportunities.
- Newton Investment Management North America, LLC is the sub-adviser of Newton Global Natural Resources Equity which employs a top-down assessment of commodity cycles and bottom-up fundamental research to construct a conviction-weighted portfolio of companies operating in the natural resources industry.
- Nuveen Asset Management, LLC is the sub-adviser of the Nuveen Global Real Assets strategy which invests in global real estate and global infrastructure utilizing its emphasis on bottom-up research and valuations while leveraging insights from the firm’s private markets expertise.
FTSE All World Developed Index is a market-capitalization weighted index representing the performance of large and mid cap companies in developed markets.
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.
- Ticker: DRAFX
- CUSIP: 10964R509
- Benchmark: FTSE All World Developed Index
- Inception date: 3/20/2017
- Gross expense ratio: 1.34%
- Net expense ratio: 1.10%*
Management team
Brian Storey CFA, Deputy CIO of Destinations Portfolios, Brinker Capital InvestmentsBrian Storey is a senior portfolio manager at Brinker Capital Investments, a brand entity of Orion Advisor Solutions. In this role, he has portfolio management responsibilities for Brinker Capital’s Destinations program. Brian is involved in all aspects of the investment process for these multi-asset class portfolio solutions, including asset allocation, portfolio construction, manager research, and due diligence.
Prior to joining Brinker Capital, Brian was a Senior Portfolio Manager at First Citizens Bank where he oversaw portfolio construction for the globally-diversified investment strategies utilized by the firm’s private wealth and institutional clients. Previously, he served in various leadership and operational roles during his five years as an officer in the U.S. Coast Guard.
Brian graduated from the United States Coast Guard Academy with a Bachelor of Science in management and earned his Master of Business Administration from Duke University’s Fuqua School of Business where he graduated as a Fuqua scholar. Brian is a CFA® charterholder and holds the FINRA Series 65 license. He is a member of the CFA® Institute and the CFA® Society North Carolina.
- Andrew Goins Andrew Goins, CFA, Senior Portfolio Manager
Andrew Goins is a senior portfolio manager at Brinker Capital Investments, a brand entity of Orion Advisor Solutions. In this role, he has portfolio management responsibilities for Brinker Capital’s Destinations program. Andrew is involved in all aspects of the investment process for these multi-asset class portfolio solutions, including asset allocation, portfolio construction, manager research, and due diligence. Andrew first joined Brinker Capital in 2010. He held several roles focusing on manager research and due diligence as well as managing multi-asset class portfolios before moving into a senior portfolio manager role in 2023.
Prior to joining Brinker Capital, Andrew was an investment management analyst at Budros, Ruhlin & Roe, an independent RIA in Columbus, OH. Andrew graduated from The Ohio State University with a Bachelor of Science in Business Administration. Andrew is a CFA® charterholder and holds the FINRA Series 7 license. He is a member of the CFA® Institute and the CFA® Society North Carolina.
Performance
FTSE All World Developed Index is a market-capitalization weighted index representing the performance of large and mid cap companies in developed markets.
Holdings
| Security Description | Ticker Symbol | Security ID | Security Type Description | Quantity | Base Market Value | Percent TNA |
As of 09/30/2024.
Distributions
| Fund Name | Fund Cusip | Distribution Type | Amount per Share | Ex Date | Reinvest Date | Reinvest Price |
|---|---|---|---|---|---|---|
| Destinations Real Assets Fund | 10964R509 | Dividend | 0.893379 | 12/16/19 | 12/16/19 | $3.25 |
| Destinations Real Assets Fund | 10964R509 | Dividend | 0.003014 | 12/17/18 | 12/17/18 | $6.04 |
| Destinations Real Assets Fund | 10964R509 | Short-Term Capital Gains | 0.007282 | 12/17/18 | 12/17/18 | $6.04 |
| Destinations Real Assets Fund | 10964R509 | Dividend | 0.037532 | 12/15/17 | 12/15/17 | $9.43 |
| Destinations Real Assets Fund | 10964R509 | Short-Term Capital Gains | 0.242089 | 12/15/17 | 12/15/17 | $9.43 |
Fees and expenses
| Type | Amount |
|---|---|
| Management Fees | 1.00% |
| Distribution and Service (12b-1) Fees | None |
| Other Expenses | 0.30% |
| AFFE | 0.04% |
| Total Annual Fund Operating Expenses | 1.34% |
| Fee waivers and expense reimbursements | (0.24%) |
| Total Annual Fund Operating Expenses Less Fee Waivers and Expense Reimbursements | 1.10%* |
* Other Expenses are based on estimated amounts for the current fiscal year.
** AFFE are indirect fees and expenses that the Fund incurs from investing in shares of other investment companies, and are estimated for the current fiscal year.
*** The Fund’s adviser, Orion Portfolio Solutions, LLC d.b.a. Brinker Capital Investments (“the Adviser”), has contractually agreed to waive a portion of its management fee as necessary to keep the Fund’s management fee from exceeding 0.444% more than the total amount of sub-advisory fees paid by the Adviser. This fee waiver and reimbursement agreement shall remain in effect until June 30, 2026 and may be amended or terminated only with the consent of the Board of Trustees.
Overview
The Destinations Real Assets Fund seeks to provide long-term capital appreciation and invests globally across areas of real assets including infrastructure, real estate, and natural resources.
Employing a multi-manager approach, the Fund currently allocates assets among the following sub-advisers:
- Delaware Investments Fund Advisers is the sub-adviser of the Macquarie Diversified Real Assets strategy which dynamically allocates among dedicated infrastructure, real estate, and natural resources strategies that focus on fundamental research to identify attractive investment opportunities.
- Newton Investment Management North America, LLC is the sub-adviser of Newton Global Natural Resources Equity which employs a top-down assessment of commodity cycles and bottom-up fundamental research to construct a conviction-weighted portfolio of companies operating in the natural resources industry.
- Nuveen Asset Management, LLC is the sub-adviser of the Nuveen Global Real Assets strategy which invests in global real estate and global infrastructure utilizing its emphasis on bottom-up research and valuations while leveraging insights from the firm’s private markets expertise.
FTSE All World Developed Index is a market-capitalization weighted index representing the performance of large and mid cap companies in developed markets.
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.
- Ticker: DRAZX
- CUSIP: 10964R764
- Benchmark: FTSE All World Developed Index
- Inception date: 7/16/2018
- Gross expense ratio: 1.19%
- Net expense ratio: 0.95%*
Management team
- Brian Storey CFA, Deputy CIO of Destinations Portfolios, Brinker Capital Investments
Brian Storey is a senior portfolio manager at Brinker Capital Investments, a brand entity of Orion Advisor Solutions. In this role, he has portfolio management responsibilities for Brinker Capital’s Destinations program. Brian is involved in all aspects of the investment process for these multi-asset class portfolio solutions, including asset allocation, portfolio construction, manager research, and due diligence.
Prior to joining Brinker Capital, Brian was a Senior Portfolio Manager at First Citizens Bank where he oversaw portfolio construction for the globally-diversified investment strategies utilized by the firm’s private wealth and institutional clients. Previously, he served in various leadership and operational roles during his five years as an officer in the U.S. Coast Guard.
Brian graduated from the United States Coast Guard Academy with a Bachelor of Science in management and earned his Master of Business Administration from Duke University’s Fuqua School of Business where he graduated as a Fuqua scholar. Brian is a CFA® charterholder and holds the FINRA Series 65 license. He is a member of the CFA® Institute and the CFA® Society North Carolina.
- Andrew Goins Andrew Goins, CFA, Senior Portfolio Manager
Andrew Goins is a senior portfolio manager at Brinker Capital Investments, a brand entity of Orion Advisor Solutions. In this role, he has portfolio management responsibilities for Brinker Capital’s Destinations program. Andrew is involved in all aspects of the investment process for these multi-asset class portfolio solutions, including asset allocation, portfolio construction, manager research, and due diligence. Andrew first joined Brinker Capital in 2010. He held several roles focusing on manager research and due diligence as well as managing multi-asset class portfolios before moving into a senior portfolio manager role in 2023.
Prior to joining Brinker Capital, Andrew was an investment management analyst at Budros, Ruhlin & Roe, an independent RIA in Columbus, OH. Andrew graduated from The Ohio State University with a Bachelor of Science in Business Administration. Andrew is a CFA® charterholder and holds the FINRA Series 7 license. He is a member of the CFA® Institute and the CFA® Society North Carolina.
Performance
FTSE All World Developed Index is a market-capitalization weighted index representing the performance of large and mid cap companies in developed markets.
Holdings
| Security Description | Ticker Symbol | Security ID | Security Type Description | Quantity | Base Market Value | Percent TNA |
As of 09/30/2024.
Distributions
| Fund Name | Fund Cusip | Distribution Type | Amount per Share | Ex Date | Reinvest Date | Reinvest Price |
|---|---|---|---|---|---|---|
| Destinations Real Assets Fund | 10964R764 | Dividend | 1.287324 | 12/16/19 | 12/16/19 | $2.91 |
| Destinations Real Assets Fund | 10964R764 | Dividend | 0.012738 | 12/17/18 | 12/17/18 | $6.11 |
| Destinations Real Assets Fund | 10964R764 | Short-Term Capital Gains | 0.007282 | 12/17/18 | 12/17/18 | $6.11 |
Fees and expenses
| Type | Amount |
|---|---|
| Management Fees | 1.00% |
| Distribution and Service (12b-1) Fees | None |
| Other Expenses | 0.15% |
| AFFE | 0.04% |
| Total Annual Fund Operating Expenses | 1.19% |
| Fee waivers and expense reimbursements | (0.24%) |
| Total Annual Fund Operating Expenses Less Fee Waivers and Expense Reimbursements | 0.95%* |
* Other Expenses are based on estimated amounts for the current fiscal year.
** AFFE are indirect fees and expenses that the Fund incurs from investing in shares of other investment companies, and are estimated for the current fiscal year.
*** The Fund’s adviser, Orion Portfolio Solutions, LLC d.b.a. Brinker Capital Investments (“the Adviser”), has contractually agreed to waive a portion of its management fee as necessary to keep the Fund’s management fee from exceeding 0.444% more than the total amount of sub-advisory fees paid by the Adviser. This fee waiver and reimbursement agreement shall remain in effect until June 30, 2026 and may be amended or terminated only with the consent of the Board of Trustees.
1-877-771-7979
Monday – Friday 8:30 am – 5:00 pm EST
Brinker Capital Destinations Funds
P.O. Box 2175
Milwaukee, WI 53201
Brinker Capital Destinations Funds
235 W. Galena Street
Milwaukee, WI 53212
Brinker Capital Investments LLC
1055 Westlakes Drive, Suite 250
Berwyn, PA 19312
www.brinkercapital.com
Foreside Fund Services, LLC
Three Canal Plaza, Suite 100
Portland, ME 04101
www.foreside.com
marketingmembers@brinkercapital.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.
