NOTICE: 2020 Capital Gains Available. View PDF here.
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World Energy Fund Commentary 3Q 2020

World Energy Fund Commentary

3Q 2020
The Fund’s Institutional share class returned -6.28% during the quarter, compared with 8.93% and -15.67% for the Fund’s benchmarks, the S&P 500 Index1 and the MSCI World Energy Index1, respectively.
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Opportunistic Fund Commentary 3Q 2020

Opportunistic Fund Commentary

3Q 2020
The Fund’s Institutional share class returned 2.77% during the quarter, compared with the average return of 2.35% for the 153 funds in Lipper Absolute Return category. Additionally, the Fund’s benchmarks, the S&P 500 Index1 and the HFRX Equity Hedge Index1, returned 8.93% and 3.57% during the period, respectively.
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Limited Duration Fund Commentary 3Q 2020

Limited Duration Fund Commentary

3Q 2020
The Fund’s Institutional share class returned 0.45% in the third quarter, compared with the ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index1, which had a 0.42% return for the quarter.
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Bond Fund Commentary 3Q 2020

Bond Fund Commentary

3Q 2020
The Fund’s Institutional share class returned 0.96% in the third quarter, compared with the Bloomberg Barclays U.S. Aggregate Bond Index1, which had a 0.62% return for the quarter.
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Active Core Fund Commentary 3Q 2020

Active Core Fund Commentary

3Q 2020
The Fund’s Institutional shares returned 5.04% in the third quarter. The Fund’s equity benchmark, the Russell 1000® Index1, returned 9.47%, while its fixed-income benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index1, returned 0.62%.
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