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Reinhart Intermediate Bond NextShares


Investment Philosophy

investment philosophy bar chart
  • High Quality – Primarily “A” rated or better.
  • Duration Neutral – Portfolio duration within 20% of the benchmark index.
  • Well Structured – Predictable cash flows at the portfolio and security levels.
  • Highly Liquid – Invest in highly liquid bonds, primarily from large issuers with multiple securities across the yield curve.

Source: Reinhart Partners, Inc. For illustrative purposes only. Shows where Reinhart falls in the range of investment options with regard to Credit Risk, Interest Rate Risk, Structure Risk, and Liquidity Risk.

About The Management Team

michael wachter

Michael J. Wachter, CFA

Principal

Director of Fixed Income

First Bank

Marquette University - MBA

University of Wisconsin - BA

29 years of investment experience

douglas fry

Douglas J. Fry, CFA

Principal

Portfolio Manager

Campbell Newman

Marquette University - MBA

University of Wisconsin Whitewater - BBA

29 years of investment experience

katherine doyle

Katherine M. Doyle

Principal

Portfolio Manager

Strong Capital Management

Marquette University - MBA

Colorado College - BA

20 years of investment experience

peter altobelli

Peter G. Altobelli, CFA

Principal

Credit Analyst

Campbell Newman

University of Wisconsin Whitewater - BBA

22 years of investment experience

william ford

William F. Ford, CFA

Principal

Credit Analyst

United Airlines

Kellogg School of Mgmt. Northwestern University - MBA

Stanford United - MS & BS

13 years of analytical experience

12 years of investment experience




Reinhart Intermediate Bond NextShares

Daily NAV as of 4/19/2018

Ticker NAV $ Change
RPIBC 19.96 -0.02

Past performance is not a guarantee of future results.


What are NextShares?

NextShares exchange-traded managed funds are a new way to invest in actively managed strategies.

  • Because they are actively managed, NextShares offer the potential for benchmark-beating returns by applying their manager’s proprietary investment research.
  • Because they trade on an exchange, NextShares may offer cost and tax efficiencies that can enhance shareholder returns.

Disclosures

About Risk: An imbalance in supply and demand in the bond market may result in valuation uncertainties and greater volatility, less liquidity, widening credit spreads and a lack of price transparency in the market. As interest rates rise, the value of certain income investments is likely to decline. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of nonpayment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer’s ability to make principal and interest payments.

No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.

Shares of NextShares funds are normally bought and sold in the secondary market through a broker, and may not be individually purchased or redeemed from the fund. In the secondary market, buyers and sellers transact with each other, rather than with the fund. NextShares funds issue and redeem shares only in specified creation unit quantities in transactions by or through Authorized Participants. In such transactions, a fund issues and redeems shares in exchange for the basket of securities, other instruments and/or cash that the fund specifies each business day. By transacting in kind, a NextShares fund can lower its trading costs and enhance fund tax efficiency by avoiding forced sales of securities to meet redemptions. Redemptions may be effected partially or entirely in cash when in-kind delivery is not practicable or deemed not in the best interests of shareholders. A fund’s basket is not intended to be representative of the fund’s current portfolio positions and may vary significantly from current positions. As exchange-traded securities, NextShares can operate with low transfer agency expenses by utilizing the same highly efficient share processing system as used for exchange-listed stocks and ETFs. Market trading prices of NextShares are linked to the fund’s next-computed net asset value (NAV) and will vary from NAV by a market determined premium or discount, which may be zero.

Buyers and sellers of NextShares will not know the value of their purchases and sales until after the fund’s NAV is determined at the end of the trading day. Market trading prices may vary significantly from anticipated levels. NextShares do not offer investors the opportunity to buy and sell intraday based on current (versus end-of-day) determinations of fund value. NextShares trade execution prices will fluctuate based on changes in NAV. Although limit orders may be used to control trading costs, they cannot be used to control or limit trade execution prices. As a new type of fund, NextShares have a limited operating history and may initially be available through a limited number of brokers. There can be no guarantee that an active trading market for NextShares will develop or be maintained, or that their listing will continue unchanged. Buying and selling NextShares may require payment of brokerage commissions and expose transacting shareholders to other trading costs. Frequent trading may detract from realized investment returns. The return on a shareholder’s NextShares investment will be reduced if the shareholder sells at a greater discount or narrower premium to NAV than he or she acquired the shares.

The Bloomberg Barclays Capital Intermediate Government/Credit Index measures the performance of U.S. Dollar denominated U.S. Treasuries, government-related and investment grade U.S. corporate securities that have a remaining maturity of greater than one year and less than ten years. One cannot invest directly in an index.

Mutual fund investing involves risk. Principal loss is possible. Investing in medium-sized companies involves greater risks than those associated with investing in large company stocks, such as business risk, significant stock price fluctuations, and illiquidity.

Before investing, investors should consider carefully the investment objectives, risks, charges and expenses of a mutual fund or portfolio.  This and other important information is contained in the prospectus and summary prospectus.  To obtain a hardcopy of the prospectus, please call 1-855-RPI-FUND (1-855-774-3863) or you may download the prospectus, which can be found under "Quick Links". Read it carefully before investing.

Reinhart products are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this website should be considered a solicitation to buy or an offer to sell shares of Reinhart products in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

Definition source: Nasdaq. Effective duration: The duration calculated using the approximate duration formula for a bond with an embedded option, reflecting the expected change in the cash flow caused by the option. Measures the responsiveness of a bond’s price - taking into account that expected cash flows will change as interest rates change due to the embedded option.

Past performance is not a guarantee of future results.

The Reinhart Fund and Reinhart Intermediate Bond NextShares are distributed by Quasar Distributors, LLC.