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NOTICE: 2018 Capital Gains Available. View PDF here.

Fund Goal

Through this broadly diverse fund, you can benefit from investments in corporate and government fixed-income securities as well as mortgage-backed securities (MBS) and asset-backed securities (ABS), with the fund maintaining a dollar-weighted average maturity of three years or more, and generally no longer than 10 years.

Process

Our Fixed Income management process is fundamentally driven, disciplined and value oriented. We construct portfolios using duration management, yield curve positioning, sector allocation, and security selection, and use these strategies as a blueprint to earn results for you.

How We Make Fixed Income Funds Work For You:

Discover

We seek opportunities to generate returns for our investors.

Assess

We test our discoveries for relative value and associated risk. If it’s not worth it, we go back to the drawing board.

Invest

We invest in assets that have value within the current market and buy when we believe the price is right.

Monitor

We monitor our investments closely. We ensure our reasoning remains valid and, if it isn’t, we return to the discovery phase.

Market Concerns

Bond funds will tend to experience small fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of changing interest rates.

Lipper Leaders Designation

  • 5
    Expense
    Lipper Leader
    Expense
    (Investor Shares)

Lipper Rankings

Category: Lipper Core Bond Funds (As of 12/31/18)

RankPercentile
1 Year89/50618
3 Year418/44295
5 Year316/37884
10 Year58/29020
Rankings are for Investor Class and are based on average annual total returns, but do not consider sales charges.Rankings are for Investor Class and are based on average annual total returns, but do not consider sales charges.The Lipper ratings for Preservation reflect the funds' historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative measures, rather than absolute measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Lipper ratings for Expense identify a fund that has successfully managed to keep its expenses low relative to its peers and within its load structure. Lipper ratings are subject to change every month and are based on an equal weighted average of percentile ranks for Preservation and Expense metrics over three-, five-, and ten- year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leaders with a rating of 5, the next 20% receive a rating of 4, the middle 20% are rated 3, the next 20% are rated 2, and the lowest 20% are rated 1.The Lipper Mutual Funds Average is an equally weighted average of the mutual funds within their respective Lipper classification, adjusted for reinvestment of capital gains distributions and income dividends. Lipper ratings are not intended to predict future results., and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Thomson Reuters Copyright 2019, all rights reserved.Past performance is no guarantee of future results.

Fund Information as of 2/28/19

Class AInstitutionalInvestor
Net Asset Value$9.26$9.24$9.26
SymbolAABOXAIBNXAPBDX
CUSIP14956P66114956P85114956P869
Inception05/02/1112/29/0509/28/90
Gross Expense Ratio0.84%0.74%0.99%
Net Expense Ratio0.74%0.49%0.76%

Fund Statistics as of 12/31/18

Total Net Assets$102,501,700
Number of Holdings180
Turnover Ratio34.55%
5-Year Standard Deviation2.60
Weighted Average Maturity (bonds)6.55 yrs.
Effective Duration (bonds)5.38 yrs.

Contractual fee waivers are in effect from December 26, 2018 through December 31, 2019.

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