Objective

Long-term capital appreciation

Strategy

The Magnus 45/55 Fund has a target allocation of 45% of capital to five CUIT funds invested in return-seeking asset classes and 55% of capital to three CUIT funds invested in risk-reducing asset classes. Five of the eight underlying CUIT funds employ multiple managers as sub-advisers. These managers are chosen for their expertise and complementary styles. CBIS allocates a separate strategic share of investment capital to each manager with the objective of improving the risk-adjusted returns for each of the CUIT funds and in turn, the Magnus 45/55 Fund.

RISK-REDUCING
55.00%
CUIT Short Bond Fund
13.75%
CUIT Opportunistic Bond Fund
13.75%
CUIT Intermediate Diversified Bond Fund
27.50%
RETURN SEEKING
45.00%
CUIT Value Equity
3.50%
CUIT Growth Equity
3.50%
CUIT Core Index Equity
20.00%
CUIT Small Cap Index Equity
6.75%
CUIT International Equity
11.25%
Fund Facts
Blended Benchmark
  • Bloomberg Barclays Aggregate Bond Index 55.00%
  • Russell 3000 Index 33.75%
  • MSCI All Country World Index ex US 11.25%
Fund Inception Date July 2, 2018
Mimimum Investment Class A: No minimum; Class B: $25 million
Expense Ratio Class A: 0.57%; Class B: 0.37%

Magnus Fees

CBIS has voluntarily agreed to waive its fees and/or reimburse expenses as necessary to prevent the total expense ratio of each of the Funds from exceeding the Total Expense Ratio (as defined in the footnote below) for each Fund, respectively. This information is presented in this manner, as compared to the CUIT Fund Series Offering Memorandum, because each Fund is a “fund-of-funds” with a single Total Expense Ratio (as defined in the footnote below). Each Fund, as a “fund-of-funds,” bears a proportionate share of the expenses incurred by the Underlying Funds in which it invests; this proportionate share is included in the Total Expense Ratio (as defined in the footnote below) disclosed above.

Total Expense Ratio, which is borne by the Funds and all the classes thereof, includes: the management fee paid to CBIS pursuant to the management contract between CUIT and CBIS; costs associated with the holding of Board meetings; expenses relating to the issuance, registration, and qualification of Shares of the Funds in the appropriate states (so-called blue sky registrations); fees and expenses of the custodian; auditing fees; fees and expenses of legal counsel; license fees paid to providers of investment indices; expenses related to transfer agency, shareholder servicing and fund accounting; broker’s commissions and issue and transfer taxes charged in connection with securities transactions of the Funds; the proportionate shares of the expenses incurred by the Underlying Funds in which the Funds invest; and fees associated with the benchmark indices and performance analytics software used to assess Fund performance.

Characteristics as of 06/30/2019

Equity Statistics
  Fund Index
Statistics Fund Index
Weighted Median Market Cap $44.4B $57.5B
Price/Book 2.4x 2.4x
Price/Earnings 19.0x 18.4x
Return on Equity 19.8% 19.1%
Dividend Yield 1.9% 2.2%
5-year Earnings Growth 13.3% 12.5%
Beta 1.0 1.0
Active Share 42.8 N/A
# of Securities 1,594 5,157
Equity Market Sector Analysis %
  Fund Index
Communication Services 8.4 8.6
Consumer Discretionary 11.6 10.6
Consumer Staples 6.9 7.3
Energy 4.8 5.3
Financials 15.7 15.7
Health care 10.7 12.6
Industrials 11.5 10.6
Information Technology 19.9 18.2
Materials 4.0 4.2
Real Estate 3.1 3.8
Utilities 2.3 3.3
Cash 1.2 0.0
Fixed Income Market Sector Analysis %
  Fund Index
Treasuries 23.3 39.3
Agencies 2.4 2.6
Industrials 17.5 15.3
Finance 15.0 8.0
Utilities 1.7 1.8
Supranational 0.0 1.4
Sovereign 0.0 1.0
MBS 10.7 27.3
CMO 1.1 0.0
CMBS 11.7 2.0
ABS 11.7 0.5
Municipals 1.6 0.9
Covered Bonds 0.0 0.0
Merger/Arbitrage 2.0 0.0
Cash 1.3 0.0
Fixed Income Statistics
  Fund Index
Statistics Fund Index
Average Maturity (years) 5.7 7.9
Effective Duration (years) 4.0 5.7
Average Quality A+ AA
Yield-to-Maturity 2.8% 2.5%
Current Yield 3.3% 3.1%
# of Securities 1,100 10,493
Effective Duration %
  Fund Index
<1 Year 18.7 2.3
1-3 Years 32.0 32.3
3-5 Years 25.8 31.2
5-7 Years 7.5 11.5
7-10 Years 8.1 6.9
10-20 Years 7.9 15.0
>20 Years 0.0 0.8
Credit Quality %
  Fund Index
AAA 50.5 72.3
AA 5.8 3.3
A 15.2 10.4
BBB 21.6 13.0
Below BBB 3.7 1.0
Merger/Arbitrage 2.0 0.0
Cash 1.3 0.0
Please review our important disclosures.