Lind Capital Partners Municipal Credit Income Fund
Targeted Credit Approach
Rigorous fundamental research and ongoing surveillance used to construct concentrated, high-conviction positions.
Focus on lower and non-rated municipal revenue bonds, in specific sectors and deal sizes that we believe provide favorable risk/reward profiles.
Opportunistic Capital Deployment
We believe the fragmented and inefficient market creates mispriced and/or misunderstood investment opportunities.
We believe the retail dominated market creates herd mentality and drives periods of sharp market dislocation, providing advantage to opportunistic, long-term investors.
Led by veteran portfolio manager, Bob Lind, Lind Capital Partners has specialized in the high yield municipal bond market since 2008.
The LCP team possesses extensive capital markets experience across origination, underwriting, trading and portfolio management.
The Fund’s primary investment objectives are to generate high current income from investments in municipal securities exempt from federal income tax and maintain capital preservation. Additional return via capital appreciation is a secondary investment objective of the Fund.
The fund will primarily invest in non-rated and lower-rated, U.S. dollar denominated municipal bonds. The fund seeks to achieve its investment objective by investing at least 80% of its assets in debt securities whose interest is exempt from federal income tax. The portfolio management team employs rigorous fundamental credit analysis and seeks to exploit the highly inefficient and fragmented municipal bond market.
* The adviser has contractually agreed to waive its fees and reimburse expenses of the Fund until at least April 30, 2025.
Performance Inception: June 1, 2017
Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For performance current to the most recent month end, please call 888-615-3031
Simultaneous with the commencement of the Fund’s operations, Backcountry Investment Partnership, LP (the “Predecessor Fund”) and Backcountry Investment Partnership 3, LP (the “Predecessor 3 Fund”) each reorganized with and transferred substantially all its assets into the Fund. Each of the Predecessor Fund and the Predecessor 3 Fund maintains an investment objective, strategies, policies, guidelines, and restrictions that are, in all material respects, equivalent to those of the Fund. The Fund, the Predecessor Fund, and the Predecessor 3 Fund share the same investment manager and portfolio managers. The Predecessor 3 Fund has been determined to be the performance survivor of the reorganization into the Fund.
The Predecessor Fund and Predecessor 3 Fund commenced operations on April 15, 2010 and June 1, 2017, respectively, and each has been managed by the Investment Manager for all periods shown. The Predecessor Fund and Predecessor 3 Fund are each a private fund excluded from the definition of “investment company” pursuant to Section 3(c)(7) of the 1940 Act that were created to pursue a substantially similar investment strategies to the Fund. The performance quoted above is that of the Predecessor 3 Fund and reflects the gross fees and expenses incurred by the Predecessor 3 Fund. The performance returns of the Predecessor 3 Fund are unaudited and are calculated by the Investment Manager on a total return basis. After-tax performance returns are not included for the Predecessor 3 Fund. The Predecessor 3 Fund was a privately placed fund, was not registered under the 1940 Act, and was not subject to certain investment limitations, diversification requirements, and other restrictions imposed by the Investment Company Act and the Internal Revenue Code, which, if applicable, may have adversely affected its performance.
As of 2/28/2022
As of 12/31/2022
The Lind Capital Partners was founded in 2009 and is a SEC registered investment advisory firm. We focus on highly inefficient sub-sectors of the $3.9 trillion municipal bond market. Lind Capital Partners offers two products to investors, Municipal High Yield (MHY) and Municipal Total Return (MTR). Both products opportunistically invest in the highly fragmented municipal bond market. Our portfolios consist of select fixed-rate holdings that we believe have strong and dependable revenue characteristics and also meet our diversification criteria. Lind Capital Partners believes our dynamic approach to credit analysis and ongoing surveillance allows the veteran portfolio management team to identify and capitalize on the broad inefficiencies unique to the municipal bond market.