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Emerging Markets Local Currency Debt Fund - C (JECCX)

Emerging Markets Local Currency Debt Fund - C (JECCX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources

Objective

The Fund seeks to provide total return.

Strategy/Investment process

  • The Fund invests primarily in debt securities that it believes have the potential to provide total return from countries whose economies or bond markets are less developed (emerging markets).
  • Under normal circumstances, the Fund invests at least 80% of its Assets in debt securities of issuers located in or tied economically to emerging markets that are denominated in emerging markets currencies (Local Currency Debt Securities) or in derivatives or other instruments that are used as substitutes for Local Currency Debt Securities.
  • As part of its main investment strategies, the Fund may invest all or substantially all of its assets in sovereign debt securities.
  • The Fund does not have any minimum quality rating requirement and may invest without limit in securities that are rated below investment grade (commonly known as junk bonds) or the unrated equivalent.
  • In addition to direct investments in securities, the Fund will use derivatives as a substitute for securities in which the Fund can invest.
Performance basics
  Annualized returns (as of 6/30/2015)
  1 Year 3 Year 5 Year Incept
at NAV -16.91% -6.47% N/A -6.46%
With 1.00% max. CDSC -17.91% -6.47% N/A -6.46%
J.P. Morgan GBI-EM Global Diversified Index -15.39% -3.78% N/A -3.78%
Lipper Emerging Markets Local Currency Debt Funds Index -14.19% -3.37% N/A -4.21%

Performance Inception Date:6/29/12

The performance quoted is past performance and is not a guarantee of future results. Mutual funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Current performance may be higher or lower than the performance data shown. For performance current to the most recent month-end, please call 1-800-480-4111.

Lipper Index since inception returns are as of month-end. The performance quoted is past performance and is not a guarantee of future results.

Annual operating expenses (%)
Expense cap expiration date 02/29/2016
Expense cap 1.70%
Total annual operating expenses 2.10%
Fee waivers and/or expense reimbursements 0.35%
Net expenses 1.75%

Fee waivers and/or expense reimbursements,Net Expenses
The Investment Advisor, Administrator and Distributor (the "Service Providers") have contractually agreed to waive fees and/or reimburse expenses to the extent that Total Annual Operating Expenses (excluding Acquired Fund Fees and Expenses, dividend expenses relating to short sales, interest, taxes, expenses related to litigation and potential litigation, extraordinary expenses and expenses related to the Board of Trustees' deferred compensation plan) exceed the expense cap of the average daily net assets through the expense cap expiration date. This contract continues through that date, at which time the Service Providers will determine whether or not to renew or revise it.

Ratings (as of 6/30/2015)
Morningstar overall rating: (246 funds)
Morningstar category: Emerging Markets Bond

Overall rating C Shares; Emerging Markets Bond Category; 246 funds. Three year rating 1 stars; 246 funds. Five year period not yet rated; 10 year period not yet rated.

2015, Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its providers; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damage or losses arising from any use of this information. Past performance is not a guarantee of future results. For each fund with a three-year history, Morningstar calculates a Morningstar Rating™ metric each month by subtracting the return on a 90-day U.S. Treasury Bill from the fund's load-adjusted return for the same period, and then adjusting this excess return for risk. The top 10% of funds in each broad asset class receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. Different share classes may have different ratings.

The ranking information is provided by Lipper Analytical Services. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respective Lipper category. Different share classes may have different rankings.

Minimum investments
Minimum investments Minimum subsequent investments
Regular $1000 Regular $50
IRA $1000 IRA $50
Daily stats (as of 7/31/2015)
NAV YTD
$7.82 -9.07%
$0.00 | 0.00%  
 
NAV as of:
  • Mon
    Jun 22
    2015
    $8.16
     
  • Tue
    Jun 23
    2015
    $8.14
     
  • Wed
    Jun 24
    2015
    $8.12
     
  • Thu
    Jun 25
    2015
    $8.12
     
  • Fri
    Jun 26
    2015
    $8.08
     
  • Mon
    Jun 29
    2015
    $8.04
     
  • Tue
    Jun 30
    2015
    $8.06
     
  • Wed
    Jul 01
    2015
    $8.02
     
  • Thu
    Jul 02
    2015
    $8.04
     
  • Mon
    Jul 06
    2015
    $7.99
     
  • Tue
    Jul 07
    2015
    $7.97
     
  • Wed
    Jul 08
    2015
    $7.95
     
  • Thu
    Jul 09
    2015
    $7.97
     
  • Fri
    Jul 10
    2015
    $8.05
     
  • Mon
    Jul 13
    2015
    $8.05
     
  • Tue
    Jul 14
    2015
    $8.07
     
  • Wed
    Jul 15
    2015
    $8.05
     
  • Thu
    Jul 16
    2015
    $8.04
     
  • Fri
    Jul 17
    2015
    $8.04
     
  • Mon
    Jul 20
    2015
    $7.99
     
  • Tue
    Jul 21
    2015
    $8.03
     
  • Wed
    Jul 22
    2015
    $7.98
     
  • Thu
    Jul 23
    2015
    $7.93
     
  • Fri
    Jul 24
    2015
    $7.88
     
  • Mon
    Jul 27
    2015
    $7.86
     
  • Tue
    Jul 28
    2015
    $7.86
     
  • Wed
    Jul 29
    2015
    $7.87
     
  • Thu
    Jul 30
    2015
    $7.82
     
  • Fri
    Jul 31
    2015
    $7.82
     
 
52 Week High $9.63
(8/27/2014)
52 Week Low $7.82
(7/30/2015)
YTD Total Return w/Load -10.07%
Net Asset Class $19,311.15
Net Asset Fund $277,557,644.06
Yields
  6/30/2015
30-Day SEC Yield 3.39%
30-Day SEC Yield (Unsubsidized) 2.50%
Basics
Ticker JECCX
CUSIP 46637K828
Share Class Inception Date 06/29/2012
Fund Number 3851
Asset Class Taxable Fixed Income
Cut-off time1 4:00 P.M.

The Fund's fixed income securities are subject to interest rate risk. If rates increase, the value of the Fund's investments generally declines.

International investing involves special risks, including economic, political, and currency instability - especially in emerging markets. The Fund's investments in emerging markets could lead to more volatility in the value of the Fund's shares. The small size of securities markets and the low trading volume may lead to a lack of liquidity, which leads to increased volatility. Emerging markets may not provide adequate legal protection for private or foreign investment or private property.

Under normal circumstances, the Fund invests at least 80% of its Assets in debt securities of issuers located in or tied economically to emerging markets that are denominated in emerging markets currencies (Local Currency Debt Securities) or in derivatives or other instruments that are used as substitutes for Local Currency Debt Securities.

The Fund may invest all or substantially all of its assets in sovereign debt securities. These investments are subject to the risk of payment delays or defaults, due, for example, to cash flow problems, insufficient foreign currency reserves, political considerations, large debt positions relative to the country's economy or failure to implement economic reforms. There is no legal or bankruptcy process for collecting sovereign debt.

The Fund may invest in securities that are below investment grade (i.e., "high yield" or "junk bonds") that are generally rated in the fifth or lower rating categories of Standard & Poor's and Moody's Investors Service. Although these securities tend to provide higher yields than higher-rated securities, there is a greater risk that the Fund's share price will decline.

The Fund may invest in futures contracts and derivatives. Many derivatives create leverage that can cause the Fund to be more volatile than it would be if it had not used derivatives.

1Please refer to the prospectus for additional information about cut-off times.

Total return assumes reinvestment of income.

The GBI-EM consists of regularly traded, fixed-rate, domestic currency government bonds which international investors can readily access. The maximum weight to any country in the index is capped at 10%. The performance of the index does not reflect the deduction of expenses associated with a fund, such as investment management fees. By contrast, the performance of the Fund reflects the deduction of the fund expenses, including sales charges if applicable. An individual cannot invest directly in an index.

The performance of the Lipper Emerging Markets Local Currency Debt Funds Index includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses charged by the Fund. An individual cannot invest directly in an index.

Total return assumes reinvestment of dividends and capital gains distributions and reflects the deduction of any sales charges, where applicable. Performance may reflect the waiver of a portion of the Fund's advisory or administrative fees and/or reimbursement of certain expenses for certain periods since the inception date. If fees had not been waived and/or certain expenses were not reimbursed, performance would have been less favorable.

©2015, American Bankers Association, CUSIP Database provided by the Standard & Poor's CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. All rights reserved.