0001435109-18-000299.txt : 20180514 0001435109-18-000299.hdr.sgml : 20180514 20180514135909 ACCESSION NUMBER: 0001435109-18-000299 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180331 FILED AS OF DATE: 20180514 DATE AS OF CHANGE: 20180514 EFFECTIVENESS DATE: 20180514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WRIGHT MANAGED INCOME TRUST CENTRAL INDEX KEY: 0000715165 IRS NUMBER: 042789493 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-03668 FILM NUMBER: 18829812 BUSINESS ADDRESS: STREET 1: 440 WHEELERS FARM RD. CITY: MILFORD STATE: CT ZIP: 06461 BUSINESS PHONE: 1-800-888-9471 MAIL ADDRESS: STREET 1: 440 WHEELERS FARM RD. CITY: MILFORD STATE: CT ZIP: 06461 FORMER COMPANY: FORMER CONFORMED NAME: WRIGHT MANAGED BOND TRUST DATE OF NAME CHANGE: 19910331 FORMER COMPANY: FORMER CONFORMED NAME: BOND FUND FOR BANK TRUST DEPARTMENTS BFBT FUND DATE OF NAME CHANGE: 19880218 0000715165 S000009582 Wright Current Income Fund C000026174 Wright Current Income Fund WCIFX N-Q 1 nq.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-03668

THE WRIGHT MANAGED INCOME TRUST
177 West Putnam Ave.
Greenwich, Connecticut 06830


Michael J. McKeen, Principal Financial Officer
Three Canal Plaza, Suite 600
Portland, ME 04101
207-347-2000


Date of fiscal year end: December 31

Date of reporting period: January 1, 2018 - March 31, 2018
 

 

 
Item 1.  Schedule of Investments.
 

Wright Current Income Fund (WCIF)
Portfolio of Investments – As of March 31, 2018 (Unaudited)
 

 
Face Amount
 
Description
 
Coupon Rate
   
Maturity Date
   
Value
 

FIXED INCOME INVESTMENTS - 89.1%

 

U.S. GOVERNMENT GUARANTEED - 0.1%


INDUSTRIALS - 0.1%
$
38,000
 
Vessel Management Services, Inc.
 
5.125
%
   
04/16/35
 
 $
42,583
 

Total U.S. Government Guaranteed (identified cost, $43,151)
 
$
42,583
 

U.S. TREASURY BILL - 89.0%

$
36,000,000
 
U.S. Treasury Bill (1)
 
1.510
%
   
04/05/18
 
 $
35,995,137
 

Total U.S. Treasury Bill (identified cost, $35,993,960)
 
$
35,995,137
 

TOTAL FIXED INCOME INVESTMENTS (identified cost, $36,037,111) — 89.1%
 
$
36,037,720
 

 
Shares
                     
SHORT-TERM INVESTMENTS - 89.1%

 
4,469,804
 
Fidelity Investments Money Market Government Portfolio - Class I, 1.49% (2)
             
 $
4,469,804
 



TOTAL SHORT-TERM INVESTMENTS (identified cost, $4,469,804) — 11.1%
 
$
4,469,804
 

TOTAL INVESTMENTS (identified cost, $40,506,915) — 100.2%
 
$
40,507,524
 

OTHER LIABILITIES, IN EXCESS OF ASSETS — (0.2)%
   
(83,005
)

NET ASSETS — 100.0%
 
$
40,424,519
 

(1)
Rate presented is yield to maturity.
(2)
Dividend yield changes daily to reflect current market conditions.  Rate was the quoted yield as of March 31, 2018.

The Fund has a three-tier fair value hierarchy. The basis of the tiers is dependent upon the various "inputs" used to determine the value of the Fund's investments. These inputs are summarized in the three broad levels listed below:
Level 1 – quoted prices in active markets for identical assets
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used to value the Fund's investments as of March 31, 2018.
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
 
Total

Asset Description
U.S. Government Guaranteed
 
$
-
   
$
42,583
   
$
-
   
$
42,583
 
U.S. Treasury Bill
   
-
     
35,995,137
     
-
     
35,995,137
 
Short-Term Investments
   
-
     
4,469,804
     
-
     
4,469,804
 

Total Investments
 
$
-
   
$
40,507,524
   
$
-
   
$
40,507,524
 

The level classification by major category of investments is the same as the category presentation in the Fund's Portfolio of Investments.
The Fund utilizes the end of period methodology when determining transfers.  There were no tranfers among Level 1, Level 2 and Level 3 for the period ended March 31, 2018.
THE PORTFOLIO OF INVESTMENTS SHOULD BE READ IN CONJUNCTION WITH THE FINANCIAL STATEMENTS AND NOTES TO FINANCIAL STATEMENTS WHICH ARE INCLUDED IN THE FUND'S AUDITED ANNUAL REPORT OR SEMI-ANNUAL REPORT. THESE REPORTS INCLUDE ADDITIONAL INFORMATION ABOUT THE FUND'S SECURITY VALUATION POLICIES AND ABOUT CERTAIN SECURITY TYPES INVESTED BY THE FUND.
 
 

 

 
Item 2.  Controls and Procedures.

(a) It is the conclusion of the registrant's principal executive officer and principal financial officer that the effectiveness of the registrant's current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reporting within the time period specified in the Commission's rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant's principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

 (b) There have been no significant changes in the registrant's internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Item 3.  Exhibits

Certification of Principal Executive Officer and Principal Financial Officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17CFR 270.30a-2(a)) is attached hereto as Exhibit 99Cert.


 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


The Wright Managed Income Trust (On behalf of Wright Current Income Fund)



By:
 
/s/ Peter M. Donovan
 
   
Peter M. Donovan
 
   
President; Principal Executive Officer
 
Date:
 
May 11, 2018
 



Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


By:
 
/s/ Peter M. Donovan
 
   
Peter M. Donovan
 
   
President; Principal Executive Officer
 
Date:
 
May 11, 2018
 


By:
 
/s/ Michael J. McKeen
 
   
Michael J. McKeen
 
   
Treasurer; Principal Financial Officer
 
Date:
 
May 11, 2018
 

 
EX-99.CERT 2 peopfo.htm

Form N-Q Item 3


I, Peter M. Donovan, certify that:

1.
I have reviewed this report on Form N-Q of The Wright Managed Income Trust (on behalf of Wright Current Income Fund);

2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.
Based on my knowledge, the schedules of investments  included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4.
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d)
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.
The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:
May 11, 2018
 
/s/ Peter M. Donovan
     
Peter M. Donovan
     
President: Principal Executive Officer

 
 
 

 
 
 
Form N-Q Item 3


I, Michael J. McKeen, certify that:

1.
I have reviewed this report on Form N-Q of The Wright Managed Income Trust (on behalf of Wright Current Income Fund);

2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.
Based on my knowledge, the schedules of investments  included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4.
The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d)
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.
The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:
5/11/18
 
/s/ Michael J. McKeen
     
Michael J. McKeen
     
Treasurer; Principal Financial Officer