M.D. Sass Equity Income Plus Fund

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Overview

  • Equity Income Plus seeks to generate income as well as growth, while seeking downside protection by investing in a diversified portfolio of high quality, rigorously researched, high dividend paying, common stocks we believe are undervalued.
  • We seek to further increase portfolio value by writing (selling) covered call options with exercise prices that are generally above the current market prices of the underlying stocks.
  • Additionally, in an attempt to protect the Fund from significant market declines, the Fund will periodically buy put options on equity security indices. The value of an index put option generally increases as the price of the stocks constituting the index declines, and generally decreases as those stocks increase in price.
  • The combination of the diversified portfolio of high dividend paying common stocks, the potential for steady additional cash flow from the sale of covered call options and the hedges from index put options seek to provide the Fund with positive absolute returns over time with potentially less downside risk than a diversified portfolio of equity securities.
  • In combination, these portfolio attributes make the M.D. Sass Equity Income Plus Fund suitable for investors seeking equity exposure with the potential for reduced downside risk.

Morningstar Rating

MDEIX 3-Star Overall Morningstar Rating™ as of 9/30/17 out of 79 Option Writing Funds.

The Overall Morningstar Rating™ for a fund is derived from a weighted average of the fund's three-year Morningstar Rating™ metrics, which are based on risk-adjusted return performance.

 

Equity Income Plus: How it Works

 

Click the numbers above to see how EIP works.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating (based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance, including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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. As of 9/30/17, the MD Sass Short Term US Government Agency Income Fund was rated 3-Stars against the following numbers of Short Government funds over the following time periods: 104 funds in the last three- and 94 funds in the last five-years. The M.D. Sass Equity Income Plus Fund (Institutional Class) was rated 3 stars against the following numbers of Option Writing Funds over the following time periods: 79 funds in the last three years.