Semper MBS Total Return Fund - Investor Class
SEMPX
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.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- U.S. Bancorp Fund Services, LLC Milwaukee WI United States of America 53202
- IPO Date
- Jul 26, 2013
- CIK
- 0001027596
- Website
- medalistpartnersfunds.com
- Similar Companies
- Business
- Medalist Partners MBS Total Return Fund - Investor Class (SEMPX) is an open-end mutual fund that seeks a high level of risk-adjusted current income and capital appreciation by investing at least 80% of its net assets in mortgage-backed securities (MBS), including residential MBS (RMBS) and commercial MBS (CMBS); these encompass agency MBS issued by government-sponsored entities such as Fannie Mae and Freddie Mac, non-agency MBS issued by private entities, credit risk transfer securities, and asset-backed securities. The fund targets fixed- and variable-rate securities with weighted average maturities generally between 1 and 10 years, including high-yield and below-investment-grade issues, and may employ leverage via lines of credit, short sales, when-issued securities, Rule 144A securities, and up to 10% in other investment companies such as ETFs, with an annual portfolio turnover typically exceeding 100%. Investor Class shares (SEMPX) feature a 1.15% expense ratio including a 0.25% Rule 12b-1 fee, a $2,500 minimum initial investment, and daily purchases/redemptions at net asset value. Launched on July 22, 2013 as a series of Advisors Series Trust and domiciled in the United States with administrative operations c/o U.S. Bancorp Fund Services, LLC in Milwaukee, Wisconsin, the fund operates primarily in U.S. fixed-income markets targeting institutional investors, high-net-worth individuals, pensions, endowments, and financial intermediaries. Medalist Partners LP, headquartered at 747 3rd Avenue, Suite 2902, New York, New York 10017, serves as investment adviser since September 26, 2023, with portfolio managers Thomas Mandel (since 2015), Greg Richter (since 2023), and James Buccola (since September 16, 2024). In a major strategic transition, the fund rebranded from Semper MBS Total Return Fund following Medalist Partners' expanded partnership with Semper Capital Management, L.P., which began in 2022 and culminated in Medalist assuming full investment advisory responsibilities in 2023, including hiring key Semper executives such as former CEO Greg Parsons and CIO Thomas Mandel. This integration bolstered Medalist's structured credit platform without altering the fund's investment objectives, amid ongoing portfolio adjustments reflected in a 40% turnover rate and net assets exceeding $300 million as of mid-2025. Effective September 16, 2024, Medalist updated its headquarters address and added James Buccola as co-portfolio manager to enhance structured credit expertise.