DPFAX

About DPFAX

Deer Park Total Return Credit Fund Class A is an open-end mutual fund focused on income and capital appreciation through credit-sensitive securitized markets. The strategy centers on deeply discounted, high‑yielding mortgage‑backed and asset‑backed securities that the adviser deems significantly undervalued, with portfolios typically emphasizing high cash‑flow bonds and relatively short durations to help manage interest‑rate risk. The fund primarily invests in asset‑backed debt securities, predominantly backed by mortgages on real estate, while maintaining daily liquidity under the Investment Company Act of 1940. It targets opportunities across legacy non‑agency residential and commercial mortgage exposures and other collateralized structures within the broader structured‑credit universe, seeking to capitalize on dislocations and prepayment or recovery dynamics in seasoned pools. The Class A share class offers 1099 tax reporting and low minimums, positioning the vehicle for accessibility to a wide range of investors who allocate to securitized credit within diversified fixed‑income sleeves. Morningstar covers the share class, reflecting its footprint in the U.S. mutual fund market for specialized credit strategies.