Income Opportunities
The Income Opportunities Strategy invests in dividend income producing securities, both domestic and foreign, across the market capitalization spectrum.
Objective
The primary objective of the Income Opportunities Strategy is to provide current income, with the supplementary objective of long-term capital appreciation.
The strategy invests in dividend income producing securities, both domestic and foreign, across the market capitalization spectrum.
Guidelines
Benchmark:
Russell 3000
Secondary Benchmark:
Russell 3000 (50%) / Bloomberg Aggregate (50%)
Typical Number of Positions:
40-60
Maximum Position Size:
5%
Maximum Industry Exposure:
20%
Maximum Sector Exposure:
30%
Maximum Cash Position:
20%
STRATEGY FACTS
As of 3.31.25
Composite Inception
04.01.22
Assets Under Management
AUM
$32.2m
Investment Vehicles
Mutual Fund
Standard Minimum
$2,500 (Class I)
PORTFOLIO MANAGERS
Nick Rinker, CFA
Lead Portfolio Manager
& Research Analyst
17 Years Industry Experience
Nick joined VELA in 2022 and has served as a Portfolio Manager on the Income Opportunities and Short Duration strategies since inception. Nick is also a partner in our firm.
Prior to joining VELA, Nick served as Director of Investments at G2 Capital Management, an investment advisory and wealth management firm. Nick has industry experience since 2006 including roles at Stadion Capital, Red Capital Group, American Capital Strategies, and Deloitte & Touche.
Nick received a B.S.B.A. from the University of Richmond.
Jason Downey, CFA
Portfolio Manager
& Research Analyst
23 Years Industry Experience
Jason joined VELA in 2020 and has served as a Portfolio Manager on the All Cap Concentrated and Income Opportunities strategies since inception and as a Portfolio Manager on the Small Cap strategy since October 2024. Jason is also a partner in our firm.
Jason began his investment career at Diamond Hill Capital Management in 2002, among the first research associates hired. Over his 18-year tenure at the firm, he held various roles, including Research Analyst, Sector Leader of the Industrials, Materials, Energy and Transportation Team, and Co-Director of Research.
Most recently, Jason served as Co-Portfolio Manager of Diamond Hill’s Long-Short Strategy.
Jason holds a B.A. from Ohio Wesleyan University.
Bobby Murphy, CFA, CPA
Director of Research;
Portfolio Manager & Research Analyst
18 Years Industry Experience
Bobby joined VELA in 2020 and serves our Director of Research, as well as a Portfolio Manager on the All Cap Concentrated, Large Cap Plus, and Income Opportunities strategies. Bobby is also a partner in our firm.
Prior to joining VELA, Bobby served as a Research Analyst at Diamond Hill Capital Management covering the chemicals, paper, and packaging sectors.
Bobby’s industry experience also includes positions at Nationwide Insurance and Wachovia Bank.
Bobby holds an M.A. from The Ohio State University and a B.S. from the University of North Carolina at Chapel Hill.
Shaun Steiger, CFA
Portfolio Manager & Research Analyst;
Options Specialist
12 Years Industry Experience
Shaun joined VELA in 2020. In addition to his role as a Portfolio Manager on the Income Opportunities strategy, Shaun serves as our Options Specialist and covers the Healthcare sector. Shaun is also a partner in our firm.
Prior to joining VELA, Shaun was a Trade Desk Associate at Diamond Hill Capital Management. Shaun also has experience as a Senior Equity Analyst with J.P. Morgan Chase Bank, and as a Property Accountant with Washington Prime Group.
Shaun holds a B.S.B.A. from The Ohio State University.
