PPM Funds N-CSRS30 Aug 24Certified semi-annual shareholder report (management investment company)Financial data

Company Profile

Form N-CSR Cover

Form N-CSR Cover	6 Months Ended
Form N-CSR Cover	Jun. 30, 2024
Shareholder Report [Line Items]
Document Type	N-CSRS
Amendment Flag	false
Registrant Name	PPM Funds
Entity Central Index Key	0001722478
Entity Investment Company Type	N-1A
Document Period End Date	Jun. 30, 2024

Shareholder Report

Shareholder Report	6 Months Ended
Shareholder Report	Jun. 30, 2024 USD ($) Holdings
Shareholder Report [Line Items]
Document Type	N-CSRS
Amendment Flag	false
Registrant Name	PPM Funds
Entity Central Index Key	0001722478
Entity Investment Company Type	N-1A
Document Period End Date	Jun. 30, 2024
PPM Core Plus Fixed Income Fund (Institutional)
Shareholder Report [Line Items]
Fund Name	PPM Core Plus Fixed Income Fund - PKPIX
Class Name	Institutional Class
dei:NoTradingSymbolFlag	true
Annual or Semi-Annual Statement [Text Block]	Semi-Annual Shareholder Report
Shareholder Report Annual or Semi-Annual	Semi-Annual Shareholder Report
Additional Information [Text Block]	This shareholder report contains important information about PPM Core Plus Fixed Income Fund for the period ended June 30, 2024. You can find additional information at https://www.ppmamerica.com/ppmfunds. 1-844-446-4PPM
Additional Information Phone Number	1-844-446-4PPM
Additional Information Website	https://www.ppmamerica.com/ppmfunds.
Expenses [Text Block]	What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment) Share Class Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Institutional Class $22 0.45%
Expenses Paid, Amount	$ 22
Expense Ratio, Percent	0.45%
Net Assets	$ 36,005,848
Holdings Count \| Holdings	451
Investment Company, Portfolio Turnover	46%
Additional Fund Statistics [Text Block]	What are some key Fund statistics as of June 30, 2024? Fund Statistic Value Fund Size ($): 36,005,848 Number of Investments: 451 Portfolio Turnover (%): 46 What did the Fund invest in as of June 30, 2024? †
Holdings [Text Block]	Credit Rating (%)* AAA 10.3 AA 37.7 A 18.9 BBB 22.0 BB 9.6 B 1.1 CCC 0.0 D 0.0 Cash 0.4 Unassigned 0.0 Total Investments 100.0 Asset Class (%) Long Investments Corporate Bonds And Notes 52.1 Government And Agency Obligations 33.9 Non-U.S. Government Agency Asset-Backed Securities 9.8 Senior Floating Rate Instruments 2.9 Short Term Investments 1.7 Total Net Assets 100.4 PPM Core Plus Fixed Income Fund Industry Sector (%) Long Investments Financials 27.2 U.S. Government Agency MBS 21.8 Government Securities 12.1 Non-U.S. Government Agency ABS 9.8 Energy 5.9 Utilities 4.7 Consumer Discretionary 3.6 Health Care 3.5 Industrials 3.3 Materials 2.5 Other Sectors 6.0 Total Net Assets 100.4 Top 10 Holdings (%) Treasury, United States Department of, 2.88%, 05/15/32 2.5 Treasury, United States Department of, 3.88%, 08/15/33 1.2 State Street U.S. Government Money Market Fund, 5.19% 1.2 Federal National Mortgage Association, Inc., 3.00%, 05/01/46 1.0 Treasury, United States Department of, 1.38%, 11/15/31 0.9 Treasury, United States Department of, 1.50%, 02/15/30 0.9 Treasury, United States Department of, 3.75%, 08/15/41 0.8 Treasury, United States Department of, 3.50%, 02/15/33 0.8 The Bank of New York Mellon Corporation, 6.47%, 10/25/34 0.8 Government National Mortgage Association, 2.50%, 03/20/51 0.7 Total Net Assets 10.8 † Does not reflect investments in derivative instruments, if applicable. Totals may not equal 100% due to rounding, if applicable. * Credit ratings for securities held in the Fund are typically provided by at least one of three nationally recognized statistical rating organizations (“NRSRO”): Standard & Poor’s (S&P), Moody’s Investor Service and Fitch, Inc. For purposes of this presentation, credit ratings are determined based on the Bloomberg U.S. Aggregate Index’s credit rating methodology. If there are multiple ratings for a security, the lowest rating is used unless ratings are provided by all three agencies, in which case the middle rating is used. If no NRSRO ratings are available, the internal rating is used. For more information on the Fund’s credit rating methodology, please refer to the Fund’s Prospectus. Additional information about NRSRO ratings is contained in the Fund’s Statement of Additional Information. Visit https://www.ppmamerica.com/ppmfunds for more recent holdings information.
PPM High Yield Core Fund (Institutional)
Shareholder Report [Line Items]
Fund Name	PPM High Yield Core Fund - PKHIX
Class Name	Institutional Class
dei:NoTradingSymbolFlag	true
Annual or Semi-Annual Statement [Text Block]	Semi-Annual Shareholder Report
Shareholder Report Annual or Semi-Annual	Semi-Annual Shareholder Report
Additional Information [Text Block]	This shareholder report contains important information about PPM High Yield Core Fund for the period ended June 30, 2024. You can find additional information at https://www.ppmamerica.com/ppmfunds 1-844-446-4PPM
Additional Information Phone Number	1-844-446-4PPM
Additional Information Website	https://www.ppmamerica.com/ppmfunds
Expenses [Text Block]	What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment) Share Class Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Institutional Class $35 0.70%
Expenses Paid, Amount	$ 35
Expense Ratio, Percent	0.70%
Net Assets	$ 38,522,037
Holdings Count \| Holdings	325
Investment Company, Portfolio Turnover	44%
Additional Fund Statistics [Text Block]	What are some key Fund statistics as of June 30, 2024? Fund Statistic Value Fund Size ($): 38,522,037 Number of Investments: 325 Portfolio Turnover (%): 44 What did the Fund invest in as of June 30, 2024? †
Holdings [Text Block]	Credit Rating (%)* AAA 0.0 AA 0.0 A 0.3 BBB 4.9 BB 47.2 B 34.5 CCC 9.8 D 0.2 Cash 2.8 Unassigned 0.3 Total Investments 100.0 Asset Class (%) Long Investments Corporate Bonds And Notes 87.1 Senior Floating Rate Instruments 8.4 Short Term Investments 7.0 Common Stocks 0.3 Total Net Assets 102.8 PPM High Yield Core Fund Industry Sector (%) Long Investments Energy 16.1 Financials 15.1 Consumer Discretionary 14.8 Communication Services 13.2 Industrials 10.4 Health Care 6.8 Information Technology 6.2 Consumer Staples 6.0 Securities Lending Collateral 4.1 Materials 3.8 Other Sectors 6.3 Total Net Assets 102.8 Top 10 Holdings (%) State Street Navigator Securities Lending Government Money Market Portfolio, 5.25% - Institutional Class 4.1 State Street U.S. Government Money Market Fund, 5.19% 2.9 Carnival Corporation, 4.00%, 08/01/28 2.0 Energean Israel Finance Ltd, 4.88%, 03/30/26 1.1 MCE Finance Limited, 5.38%, 12/04/29 1.0 Organon & Co., 5.13%, 04/30/31 0.9 Cimpress NV, 7.00%, 06/15/26 0.9 Enerflex Ltd., 9.00%, 10/15/27 0.8 Pilgrim's Pride Corporation, 4.25%, 04/15/31 0.8 Bip-V Chinook, 5.50%, 06/15/31 0.8 Total Net Assets 15.3 † Does not reflect investments in derivative instruments, if applicable. Totals may not equal 100% due to rounding, if applicable. * Credit ratings for securities held in the Fund are typically provided by at least one of three nationally recognized statistical rating organizations (“NRSRO”): Standard & Poor’s (S&P), Moody’s Investor Service and Fitch, Inc. For purposes of this presentation, credit ratings are determined based on the Bloomberg U.S. Aggregate Index’s credit rating methodology. If there are multiple ratings for a security, the lowest rating is used unless ratings are provided by all three agencies, in which case the middle rating is used. If no NRSRO ratings are available, the internal rating is used. For more information on the Fund’s credit rating methodology, please refer to the Fund’s Prospectus. Additional information about NRSRO ratings is contained in the Fund’s Statement of Additional Information. Visit https://www.ppmamerica.com/ppmfunds for more recent holdings information.

Shareholder Report, Holdings (D

Shareholder Report, Holdings (Details)	Jun. 30, 2024
PPM Core Plus Fixed Income Fund (Institutional) \| Treasury United States Departmentof 28805153228 [Member]
Holdings [Line Items]
Percent of Net Asset Value	2.50%
PPM Core Plus Fixed Income Fund (Institutional) \| Treasury United States Departmentof 38808153329 [Member]
Holdings [Line Items]
Percent of Net Asset Value	1.20%
PPM Core Plus Fixed Income Fund (Institutional) \| State Street U S Government Money Market Fund 51930 [Member]
Holdings [Line Items]
Percent of Net Asset Value	1.20%
PPM Core Plus Fixed Income Fund (Institutional) \| Federal National Mortgage Association Inc 30005014631 [Member]
Holdings [Line Items]
Percent of Net Asset Value	1%
PPM Core Plus Fixed Income Fund (Institutional) \| Treasury United States Departmentof 13811153132 [Member]
Holdings [Line Items]
Percent of Net Asset Value	0.90%
PPM Core Plus Fixed Income Fund (Institutional) \| Treasury United States Departmentof 15002153033 [Member]
Holdings [Line Items]
Percent of Net Asset Value	0.90%
PPM Core Plus Fixed Income Fund (Institutional) \| Treasury United States Departmentof 37508154134 [Member]
Holdings [Line Items]
Percent of Net Asset Value	0.80%
PPM Core Plus Fixed Income Fund (Institutional) \| Treasury United States Departmentof 35002153335 [Member]
Holdings [Line Items]
Percent of Net Asset Value	0.80%
PPM Core Plus Fixed Income Fund (Institutional) \| The Bankof New York Mellon Corporation 64710253436 [Member]
Holdings [Line Items]
Percent of Net Asset Value	0.80%
PPM Core Plus Fixed Income Fund (Institutional) \| Government National Mortgage Association 25003205137 [Member]
Holdings [Line Items]
Percent of Net Asset Value	0.70%
PPM Core Plus Fixed Income Fund (Institutional) \| Total Net Assets 38 [Member]
Holdings [Line Items]
Percent of Net Asset Value	10.80%
PPM Core Plus Fixed Income Fund (Institutional) \| A A A [Member]
Holdings [Line Items]
Percent of Total Investments	10.30%
PPM Core Plus Fixed Income Fund (Institutional) \| A A [Member]
Holdings [Line Items]
Percent of Total Investments	37.70%
PPM Core Plus Fixed Income Fund (Institutional) \| A [Member]
Holdings [Line Items]
Percent of Total Investments	18.90%
PPM Core Plus Fixed Income Fund (Institutional) \| B B B [Member]
Holdings [Line Items]
Percent of Total Investments	22%
PPM Core Plus Fixed Income Fund (Institutional) \| B B [Member]
Holdings [Line Items]
Percent of Total Investments	9.60%
PPM Core Plus Fixed Income Fund (Institutional) \| B [Member]
Holdings [Line Items]
Percent of Total Investments	1.10%
PPM Core Plus Fixed Income Fund (Institutional) \| C C C [Member]
Holdings [Line Items]
Percent of Total Investments	0%
PPM Core Plus Fixed Income Fund (Institutional) \| D [Member]
Holdings [Line Items]
Percent of Total Investments	0%
PPM Core Plus Fixed Income Fund (Institutional) \| Cash [Member]
Holdings [Line Items]
Percent of Total Investments	0.40%
PPM Core Plus Fixed Income Fund (Institutional) \| Unassigned [Member]
Holdings [Line Items]
Percent of Total Investments	0%
PPM Core Plus Fixed Income Fund (Institutional) \| Total Inv [Member]
Holdings [Line Items]
Percent of Total Investments	100%
PPM Core Plus Fixed Income Fund (Institutional) \| Financials 14 [Member]
Holdings [Line Items]
Percent of Net Asset Value	27.20%
PPM Core Plus Fixed Income Fund (Institutional) \| U S Government Agency M B S 15 [Member]
Holdings [Line Items]
Percent of Net Asset Value	21.80%
PPM Core Plus Fixed Income Fund (Institutional) \| Government Securities 16 [Member]
Holdings [Line Items]
Percent of Net Asset Value	12.10%
PPM Core Plus Fixed Income Fund (Institutional) \| Non U S Government Agency A B S 17 [Member]
Holdings [Line Items]
Percent of Net Asset Value	9.80%
PPM Core Plus Fixed Income Fund (Institutional) \| Energy 18 [Member]
Holdings [Line Items]
Percent of Net Asset Value	5.90%
PPM Core Plus Fixed Income Fund (Institutional) \| Utilities 19 [Member]
Holdings [Line Items]
Percent of Net Asset Value	4.70%
PPM Core Plus Fixed Income Fund (Institutional) \| Consumer Discretionary 20 [Member]
Holdings [Line Items]
Percent of Net Asset Value	3.60%
PPM Core Plus Fixed Income Fund (Institutional) \| Health Care 21 [Member]
Holdings [Line Items]
Percent of Net Asset Value	3.50%
PPM Core Plus Fixed Income Fund (Institutional) \| Industrials 22 [Member]
Holdings [Line Items]
Percent of Net Asset Value	3.30%
PPM Core Plus Fixed Income Fund (Institutional) \| Materials 23 [Member]
Holdings [Line Items]
Percent of Net Asset Value	2.50%
PPM Core Plus Fixed Income Fund (Institutional) \| Other Sectors 24 [Member]
Holdings [Line Items]
Percent of Net Asset Value	6%
PPM Core Plus Fixed Income Fund (Institutional) \| Total Net Assets 25 [Member]
Holdings [Line Items]
Percent of Net Asset Value	100.40%
PPM Core Plus Fixed Income Fund (Institutional) \| Corporate Bonds And Notes 3 [Member]
Holdings [Line Items]
Percent of Net Asset Value	52.10%
PPM Core Plus Fixed Income Fund (Institutional) \| Government And Agency Obligations 4 [Member]
Holdings [Line Items]
Percent of Net Asset Value	33.90%
PPM Core Plus Fixed Income Fund (Institutional) \| Non U S Government Agency Asset Backed Securities 5 [Member]
Holdings [Line Items]
Percent of Net Asset Value	9.80%
PPM Core Plus Fixed Income Fund (Institutional) \| Senior Floating Rate Instruments 6 [Member]
Holdings [Line Items]
Percent of Net Asset Value	2.90%
PPM Core Plus Fixed Income Fund (Institutional) \| Short Term Investments 7 [Member]
Holdings [Line Items]
Percent of Net Asset Value	1.70%
PPM Core Plus Fixed Income Fund (Institutional) \| Total Net Assets 8 [Member]
Holdings [Line Items]
Percent of Net Asset Value	100.40%
PPM High Yield Core Fund (Institutional) \| Total Net Assets 38 [Member]
Holdings [Line Items]
Percent of Net Asset Value	15.30%
PPM High Yield Core Fund (Institutional) \| State Street Navigator Lending Government [Member]
Holdings [Line Items]
Percent of Net Asset Value	4.10%
PPM High Yield Core Fund (Institutional) \| State Street U S Government Money Market Fund [Member]
Holdings [Line Items]
Percent of Net Asset Value	2.90%
PPM High Yield Core Fund (Institutional) \| Carnival Corporation [Member]
Holdings [Line Items]
Percent of Net Asset Value	2%
PPM High Yield Core Fund (Institutional) \| Energean Israel Finance Ltd [Member]
Holdings [Line Items]
Percent of Net Asset Value	1.10%
PPM High Yield Core Fund (Institutional) \| M C E Finance Ltd [Member]
Holdings [Line Items]
Percent of Net Asset Value	1%
PPM High Yield Core Fund (Institutional) \| Organon And Co [Member]
Holdings [Line Items]
Percent of Net Asset Value	0.90%
PPM High Yield Core Fund (Institutional) \| Cimpress N V [Member]
Holdings [Line Items]
Percent of Net Asset Value	0.90%
PPM High Yield Core Fund (Institutional) \| Enerflex Ltd [Member]
Holdings [Line Items]
Percent of Net Asset Value	0.80%
PPM High Yield Core Fund (Institutional) \| Pilgrim Pride Corporation [Member]
Holdings [Line Items]
Percent of Net Asset Value	0.80%
PPM High Yield Core Fund (Institutional) \| Big V Chinook [Member]
Holdings [Line Items]
Percent of Net Asset Value	0.80%
PPM High Yield Core Fund (Institutional) \| A A A [Member]
Holdings [Line Items]
Percent of Total Investments	0%
PPM High Yield Core Fund (Institutional) \| A A [Member]
Holdings [Line Items]
Percent of Total Investments	0%
PPM High Yield Core Fund (Institutional) \| A [Member]
Holdings [Line Items]
Percent of Total Investments	0.30%
PPM High Yield Core Fund (Institutional) \| B B B [Member]
Holdings [Line Items]
Percent of Total Investments	4.90%
PPM High Yield Core Fund (Institutional) \| B B [Member]
Holdings [Line Items]
Percent of Total Investments	47.20%
PPM High Yield Core Fund (Institutional) \| B [Member]
Holdings [Line Items]
Percent of Total Investments	34.50%
PPM High Yield Core Fund (Institutional) \| C C C [Member]
Holdings [Line Items]
Percent of Total Investments	9.80%
PPM High Yield Core Fund (Institutional) \| D [Member]
Holdings [Line Items]
Percent of Total Investments	0.20%
PPM High Yield Core Fund (Institutional) \| Cash [Member]
Holdings [Line Items]
Percent of Total Investments	2.80%
PPM High Yield Core Fund (Institutional) \| Unassigned [Member]
Holdings [Line Items]
Percent of Total Investments	0.30%
PPM High Yield Core Fund (Institutional) \| Total Inv [Member]
Holdings [Line Items]
Percent of Total Investments	100%
PPM High Yield Core Fund (Institutional) \| Energy 18 [Member]
Holdings [Line Items]
Percent of Net Asset Value	6.30%
PPM High Yield Core Fund (Institutional) \| Energy [Member]
Holdings [Line Items]
Percent of Net Asset Value	16.10%
PPM High Yield Core Fund (Institutional) \| Financials [Member]
Holdings [Line Items]
Percent of Net Asset Value	15.10%
PPM High Yield Core Fund (Institutional) \| Consumer Discretionary [Member]
Holdings [Line Items]
Percent of Net Asset Value	14.80%
PPM High Yield Core Fund (Institutional) \| Communications Sector [Member]
Holdings [Line Items]
Percent of Net Asset Value	13.20%
PPM High Yield Core Fund (Institutional) \| Industrials [Member]
Holdings [Line Items]
Percent of Net Asset Value	10.40%
PPM High Yield Core Fund (Institutional) \| Health Care [Member]
Holdings [Line Items]
Percent of Net Asset Value	6.80%
PPM High Yield Core Fund (Institutional) \| Information Technology [Member]
Holdings [Line Items]
Percent of Net Asset Value	6.20%
PPM High Yield Core Fund (Institutional) \| Consumer Staples [Member]
Holdings [Line Items]
Percent of Net Asset Value	6%
PPM High Yield Core Fund (Institutional) \| Materials [Member]
Holdings [Line Items]
Percent of Net Asset Value	4.10%
PPM High Yield Core Fund (Institutional) \| Other Sectors [Member]
Holdings [Line Items]
Percent of Net Asset Value	3.80%
PPM High Yield Core Fund (Institutional) \| Common Stock [Member]
Holdings [Line Items]
Percent of Net Asset Value	0.30%
PPM High Yield Core Fund (Institutional) \| Corporate Bonds And Notes 3 [Member]
Holdings [Line Items]
Percent of Net Asset Value	87.10%
PPM High Yield Core Fund (Institutional) \| Senior Floating Rate Instruments 6 [Member]
Holdings [Line Items]
Percent of Net Asset Value	8.40%
PPM High Yield Core Fund (Institutional) \| Short Term Investments 7 [Member]
Holdings [Line Items]
Percent of Net Asset Value	7%
PPM High Yield Core Fund (Institutional) \| Total Net Assets 8 [Member]
Holdings [Line Items]
Percent of Net Asset Value	102.80%