iMGP Dolan McEniry Corporate Bond Fund
IDMAX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- Manager Directed Portfolios
- IPO Date
- May 17, 2019
- CIK
- 0001359057
- Similar Companies
- Business
- iMGP Dolan McEniry Corporate Bond Fund (IDMAX) is a mutual fund that seeks total return, with a secondary objective of preserving capital, by investing primarily in a diversified portfolio of U.S. dollar-denominated corporate investment grade bonds, corporate high yield bonds, and U.S. Government and Treasury securities maturing in 10 years or less. Under normal market conditions, the fund allocates at least 80% of its net assets (plus any borrowing for investment purposes) to corporate bonds, with approximately 75% in investment grade bonds rated BBB- or equivalent by major credit rating agencies (or unrated bonds deemed comparable by the sub-advisor) and 25% in high yield bonds; up to 20% may be held in U.S. Government and Treasury securities, while bonds issued by foreign corporations or U.S. affiliates of foreign corporations are permitted. The fund's duration typically tracks the Bloomberg U.S. Intermediate Credit Index plus or minus 50%, emphasizing bottom-up credit analysis focused on free cash flow coverage, undervalued spreads to Treasuries, and sector opportunities in areas such as consumer staples and industrials. The fund operates within the fixed income segment, targeting individual investors, financial advisors, and institutions seeking intermediate-term corporate bond exposure with a value-oriented, lender's approach to credit selection. It is sub-advised by Dolan McEniry Capital Management LLC, a Chicago-based specialist founded in 1997 with expertise in U.S. corporate bonds, and advised by iM Global Partner Fund Management LLC as part of the iMGP Funds family under Litman Gregory Funds Trust. Shares are available through financial intermediaries with minimum initial investments of $2,500 for automatic accounts ($10,000 regular, $5,000 retirement for Institutional Class IDMIX), and the fund maintains U.S.-focused operations. Launched on September 28, 2018, the fund underwent a reorganization on September 20, 2021, acquiring the assets and liabilities of its predecessor, the iM Dolan McEniry Corporate Bond Fund (a series of Manager Directed Portfolios), thereby assuming its performance history. In April 2024, the primary benchmark shifted from the Bloomberg U.S. Aggregate Bond Index to the Bloomberg U.S. Intermediate Credit Index (secondary), aligning more closely with its strategy. Most recently, effective September 13, 2024, the management fee was reduced from 0.50% to 0.42%, the sub-advisory fee to 0.270%, and the total annual operating expenses after waivers to 0.62% for Institutional Class shares through April 30, 2025 (excluding certain excludable expenses), enhancing cost efficiency for investors. As of May 31, 2025, Dolan McEniry renamed its Investment Grade Composite to the Dolan McEniry Core Composite, reflecting strategic alignment with the fund's blended approach.