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Hilton Capital Management, LLC

Destra Capital partners with Hilton Capital Management LLC to bring their Tactical Income Strategy to market in two different vehicles, a mutual fund called the Direxion Hilton Tactical Income Fund and for certain investors, as a separately managed account, the Hilton Capital Tactical Income Strategy.


Hilton Capital Management follows a distinctive investment process that principally focuses on yield while attempting to mitigate market risk. The manager aims to invest in high quality companies that may offer an attractive level of risk adjusted returns. When a potential position is evaluated for inclusion, Hilton’s management team examines the company across their capital structure to determine where the investment opportunity offers the best risk adjusted return potential. They seek to limit the volatility in the portfolio and generate solid returns without taking on undue risk. The managers believe, through the use of tactical asset allocation amongst cash, equities, and fixed-income; they can generate attractive returns while reducing fund volatility over market cycles.

Tactical Income Strategy

​Investment Objective

The Hilton Capital Tactical Income Strategy ("Tactical Income”) seeks capital preservation with an emphasis on income generation as a key component to competitive total returns while minimizing risk and volatility.

Investment Strategy

Tactical Income is a balanced investment strategy that seeks to mitigate portfolio risk by creating a diversified portfolio of income producing securities that offer the potential for capital appreciation.

All potential investments are approached from a global macro-economic perspective, taking into account fiscal/monetary policy, interest rates, commodity pricing, government policy and general business conditions. Based on these perspectives, a top down analysis is applied to identify sectors and individual companies which fit the desired risk and income profile based on fundamental analysis of balance sheet, credit quality and income stability. In this process companies with which to invest are identified, as well as where in the capital structure investments will be made. The decision making process is a team approach amongst the Chief Investment Officer William Garvey and Portfolio Managers Alexander Oxenham and C. Craig O’Neill.

Investment Vehicles

Direxion Hilton Tactical Income Fund

Type: Mutual Fund

A Shares
ticker: HCYAX
EXPENSE RATIO (GROSS/NET %)
1.52 / 1.52*

C Shares
ticker: HCYCX
EXPENSE RATIO (GROSS/NET %)
2.27 / 2.27*

I Shares
ticker: HCYIX
EXPENSE RATIO (GROSS/NET %)
1.27 / 1.27*

Hilton Capital Tactical Income Strategy

Type: Separately Managed Account

The Hilton Capital Tactical Income Strategy is available on select managed account platforms. Check with your Financial Advisor for more details.

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* The Net Expense Ratio includes management fees, other operating expenses and Acquired Fund Fees and Expenses. If Acquired Fund Fees and Expenses were excluded, the Net Expense Ratio would be 1.30% for HCYAX, 1.05% for HCYIX, and 2.05% for HCYCX. The Fund’s Adviser, Rafferty Asset Management, LLC (“Rafferty”) has entered into an Operating Services Agreement with each Fund. Under this Operating Services Agreement, Rafferty has contractually agreed, in exchange for an annualized fee of 0.15% of the average daily net assets of each class of the Fund, to pay all expenses of each Fund as long as Rafferty is the adviser to the Fund, other than the following: management fees, Rule 12b-1 distribution and/or service fees, acquired fund fees and expenses, taxes, swap financing and related costs, dividends or interest on short positions, other interest expenses, brokerage commissions and extraordinary expenses. If these expenses were included, the net expense ratio would be higher.