INSIGHTS
By
John Tabb,
Chief Operating Officer
A conversation with CIO Richard de Wet covering his background, tactical income philosophy, portfolio construction, and how Modern Capital approaches risk and opportunity across market cycles.
Summary of Discussion
In this conversation, CEO Brad Atkins sits down with Chief Investment Officer Richard de Wet to introduce his background and investment approach.
Rich shares his perspective on:
His experience across global credit and income markets
What “tactical income” means and how it differs from traditional strategies
How portfolios are constructed using a top-down macro and bottom-up fundamental process
The role of risk management and how drawdowns are managed
How the team identifies opportunities across asset classes and geographies
How advisors can position the strategy within client portfolios
The discussion provides insight into the philosophy, discipline, and flexibility behind Modern Capital’s Tactical Income approach.
Disclosure:
© 2025 Morningstar, Inc. All rights reserved. The Morningstar Rating™ is for the Class A only; other classes may have different performance characteristics. The rating is not a recommendation to buy, sell, or hold the fund. Morningstar does not guarantee its accuracy or completeness and is not responsible for damages or losses arising from any use of this information.
Investors should consider the Fund’s investment objectives, risks, charges, and expenses before investing. The prospectus, containing this and other information about the Fund, should be read carefully before investing. The prospectus is available at the download icon below or by calling 800-711-9164. Current and future holdings are subject to change and risk.
Investments in the Fund are subject to investment risks, including the possible loss of some or all of the principal amount invested. There is no assurance that the Fund will be successful in meeting its investment objective. The Fund is subject to the following additional risks:
▪ Active Trading Risk: Active trading may result in added expenses, a lower return, and increased tax liability. Since the Fund’s advisor engages in high turnover trading strategies, the Fund will have high portfolio turnover rates.
▪ Closed-End Fund Risk: Closed-end funds (CEFs) are subject to investment advisory and other expenses, which will be indirectly paid by the Fund resulting in duplicative fees and expenses. CEFs are also subject to management risk because the advisor to the underlying CEF may be unsuccessful in meeting the fund’s investment objective.
▪ Equity Securities Risk: Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. These changes in value may result from factors affecting individual issuers, industries, or the stock market.
More information about these risks can be found in the Fund's prospectus.
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- No Bank Guarantee
- May Lose Value
- NOT FDIC-INSURED