About PIAMX
PIA High Yield (MACS) Fund Managed Account Completion Shares is a mutual fund designed primarily to seek a high level of current income, with a secondary objective of capital growth consistent with that goal. Launched on December 26, 2017, and managed by Pacific Income Advisers, it invests at least 80% of its net assets in a diversified portfolio of domestic and foreign high yield instruments, including bonds, convertible securities, loan participations, and preferred stocks. The fund employs a disciplined, fundamental approach, combining top-down industry analysis with granular bottom-up credit selection, favoring smaller, oligopolistic companies in resilient sectors for attractive risk-adjusted returns. Notable features include a low expense ratio of 0.18%, monthly dividend payouts yielding around 9%, assets under management of approximately $182 million, and a portfolio turnover of 29%. Benchmarked against the Bloomberg U.S. Corporate High Yield Index, it holds 121 securities, with top holdings like Innophos Holdings and Verde Purchaser representing about 14.5% of assets. Classified in the Miscellaneous Fixed Income category, it serves as a completion strategy to enhance fixed income portfolios with high yield exposure while mitigating security-specific risks.
Fund Family PIA Mutual Funds
Category High Yield
Performance Rating High
Risk Rating Average
Stock Exchange Nasdaq
Ticker Symbol PIAMX
Share Class Managed Account Completion Shares
Index Bloomberg U.S. Corporate High Yield TR
PIAMX had a total return of 0.17% in the past year, including dividends. Since the fund's
inception, the average annual return has been 4.79%.
