NOTICE: 2020 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 strive to earn results for you.

How We Strive To 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

Fixed income securities are subject to interest rate risks. The principal value of a bond falls when interest rates rise and rise when interest rates fall. During periods of rising interest rates, the value of a bond investment is at greater risk than during periods of stable or falling rates. Bond funds will tend to experience smaller 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.

Morningstar Rankings

Category: US OE Fund Intermediate Core Bond (as of 12/31/2020)

RankPercentile
1 Year321/41874
3 Year266/38371
5 Year273/33381
10 Year106/25443

Rankings are for Institutional Class and are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. For periods not shown, Morningstar does not provide rankings based on synthetic performance.

Morningstar rankings are based on a fund’s average annual total return relative to all funds in the same Morningstar category. Fund performance used within the rankings, reflects certain fee waivers, without which, returns and Morningstar rankings would have been lower. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100.

2021 Morningstar, Inc., All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Rankings are for Institutional Class and are based on average annual total returns, but do not consider sales charges.
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Lipper Leaders Designation

  • 5
    Expense
    Lipper Leader
    Expense
    (Investor Shares)

Lipper Rankings

Category: Lipper Core Bond Funds (As of 12/31/2020)

RankPercentile
1 Year440/50587
3 Year378/47380
5 Years382/41493
10 Year180/31458

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 2021, all rights reserved.

Past performance is no guarantee of future results.

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Fund Information as of 1/31/21

Class AInstitutionalInvestor
Net Asset Value$10.06$10.04$10.06
SymbolAABOXAIBNXAPBDX
CUSIP14956P66114956P85114956P869
Inception05/02/1112/29/0509/28/90
Gross Expense Ratio0.84%0.74%0.99%
Net Expense Ratio0.74%0.49%0.74%

Fund Statistics as of 12/31/20

Total Net Assets$102,126,373
Number of Holdings186
Turnover Ratio65.54%
5-Year Standard Deviation3.12
Weighted Average Maturity (bonds)6.28 yrs.
Effective Duration (bonds)5.39 yrs.

Contractual fee waivers are in effect from December 28, 2020 through December 31, 2021.

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