1290 Diversified Bond Fund Class I
TNUIX
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- 1290 Diversified Bond Fund Class I (TNUIX) is an open-end mutual fund that seeks to maximize total return consisting of income and capital appreciation by investing at least 80% of its net assets, plus borrowings for investment purposes, in a diversified portfolio of U.S. and foreign bonds or other debt securities of varying maturities and other instruments that provide investment exposure to such debt securities, including forwards or derivatives such as options, futures contracts or swap agreements. The fund maintains an actively managed core portfolio of U.S. investment-grade bonds, supplemented opportunistically with sovereign bonds, credit securities, and currency strategies to enhance income and price appreciation potential; its top holdings typically include U.S. Treasury futures, Euro Bund futures, Ultra U.S. Treasury Bond futures, and Japanese and Canadian government bond futures, with allocations spanning government-related securities (54.44%), government bonds (44.77%), agency mortgage-backed securities (37.67%), corporate bonds (6.28%), and cash equivalents (18.38%). It operates within the Intermediate Core-Plus Bond category, targeting institutional and high-net-worth investors through Class I shares with a $1,000,000 minimum investment, alongside Class A (TNUAX, $1,000 minimum) and Class R (TNURX) shares, and features a net expense ratio of 0.50% pursuant to an expense limitation arrangement through April 30, 2026. Launched on July 6, 2015, and domiciled in the United States with total net assets of approximately $574 million as of late 2025, the fund is advised by Equitable Investment Management, LLC, an indirect wholly-owned subsidiary of Equitable Holdings, Inc., and managed by a team including Kenneth Kozlowski and Alwi Chan (since inception), Anujeet Sareen and Tracy Chen (since June 15, 2018), and Brian Kloss (since March 31, 2020). The fund benchmarks against the Bloomberg U.S. Aggregate Bond Index, reflecting its broad investment-grade fixed-income focus. In June 2018, the fund underwent a significant restructuring, including a shift to its current broad-based benchmark from the prior ICE BofAML USD 3-Month Deposit Offered Rate Constant Maturity Index, along with changes in management and strategy to emphasize the diversified bond approach. More recently, through September 30, 2025, it has sustained its expense limitation at 0.50% for Class I shares and maintained monthly dividend payouts, with an ex-dividend date of October 31, 2025, amid a year-to-date return of approximately 7.28% and ongoing portfolio rebalancing in response to interest rate environments and Treasury yield movements. No major acquisitions, new product launches, or strategic alliances specific to the fund have been reported in the last 1-2 years.