Mutual Fund Report: Five-Star Managers
Don Shute -- IMS Strategic Income (IMSIX)

This isn't your father's bond fund. The IMS Strategic Income has the ability to invest in a wide array of income-producing securities. At the moment, Don Shute says the fund put more than one-third of the fund's assets in high-yield bonds and about 20% in common stocks. Shute also can invest as much as 25% of its assets in foreign securities.

The strategy has produced a 6.58% return year-to-date, according to Morningstar. Over three-years, the return is 12.62%.

Shute discusses which investors should own the fund, which he sees as a complement to a more traditional bond fund. You'll also hear about: Coalcorp Mining and Argentina's Industrias Metalurgicas.