Gains Limited Duration Fund

The Gains Limited Duration Fund is a fixed-income mutual fund designed to provide short-duration exposure to a broad universe of debt securities. Managed within the Guggenheim Active Investment Series (GAINS), this fund primarily serves Guggenheim's Separately Managed Account (SMA) strategies and is not available for direct investment by retail investors. Its central objective is to invest at least 80% of its assets in debt instruments, including corporate bonds, U.S. government and agency securities, sovereign debt, asset-backed securities, collateralized loan obligations, non-agency mortgage-backed securities, and high yield corporates. The fund also utilizes derivatives for risk management and directional strategies, allowing SMAs to access assets that might otherwise be inaccessible for direct holding. Key characteristics include a weighted average life of approximately 2.5 years and an effective duration of 0.5, which positions it as a vehicle for investors seeking lower interest rate risk compared to longer-duration bond funds. The fund maintains a diversified credit quality, with a significant allocation to high-quality (AAA, AA, and A) securities but also includes some exposure to lower-rated bonds for enhanced yield potential. As of its latest disclosures, the fund’s yield to maturity is around 5.8%, reflecting its focus on generating stable income while managing interest rate sensitivity. By leveraging a unique structure with zero advisory fees (with expenses currently waived through early 2026) and reimbursed operating expenses at the SMA level, the Gains Limited Duration Fund aims to offer institutional investors targeted, cost-efficient access to a dynamic and professionally managed short-duration fixed income portfolio.