Use the Guide
Browse the Guide
Portfolio Discussions
Dr. Kelly's Review
Use the Guide
Guide to Retirement
Discussions
Client Presentation
Headlines
Employment & the Fed
Navigating fiscal uncertainty
European Markets
U.S. Recovery
Headlines
Employment & the Fed
Navigating fiscal uncertainty
European Markets
U.S. Recovery
Featured Topics
Fixed Income
U.S. Equities
Income Opportunities
Global Growth
Looking for other topics? Visit the Library
Choose a Shortcut

Total Return Fund - Select (JMTSX)

Total Return Fund - Select (JMTSX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources

Objective

The Fund seeks to provide high total return.

Strategy/Investment process

  • Invests in a wide range of debt securities that have the potential to provide a high total return over time.
  • Derivatives may be used as substitutes for securities in which the Fund can invest and to manage duration, sector and yield curve exposure and credit and spread volatility.
  • Up to 35% of the Fund's net assets may be invested in securities rated below investment grade (junk bonds) including distressed debt.
  • Selects investments by analyzing both individual securities and different market sectors within broader interest rate, investment and sector themes.
Performance basics
  Annualized returns (as of 3/31/2014)
  1 Year 3 Year 5 Year Incept
at NAV 1.44% 5.18% 8.99% 7.25%
Barclays U.S. Aggregate Index -0.10% 3.75% 4.80% 4.91%
Lipper Core Plus Bond Funds Index 0.75% 4.85% 7.98% 6.43%

Performance Inception Date:6/16/08

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.

Benchmark 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 06/30/2014
Expense cap 0.65%
Total annual operating expenses 0.84%
Fee waivers and/or expense reimbursements 0.14%
Net expenses 0.70%

Net Expenses,Fee waivers and/or expense reimbursements
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 3/31/2014)
Morningstar overall rating: (942 funds)
Morningstar category: Intermediate-Term Bond

Overall rating Select Shares; Intermediate-Term Bond Category; 942 funds. Three year rating 4 stars; 942 funds. Five year rating 5 stars; 808 funds. 10 year period not yet rated.

2014, 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 $1M Regular No Minimum.
IRA $1M IRA No Minimum.
Daily stats (as of 4/24/2014)
NAV YTD
$10.04 2.45%
$0.00 | 0.00%  
 
NAV as of:
  • Fri
    Mar 14
    2014
    $10.02
     
  • Mon
    Mar 17
    2014
    $10.01
     
  • Tue
    Mar 18
    2014
    $10.02
     
  • Thu
    Mar 20
    2014
    $9.98
     
  • Fri
    Mar 21
    2014
    $10.00
     
  • Mon
    Mar 24
    2014
    $10.01
     
  • Tue
    Mar 25
    2014
    $10.01
     
  • Wed
    Mar 26
    2014
    $10.03
     
  • Thu
    Mar 27
    2014
    $10.04
     
  • Fri
    Mar 28
    2014
    $10.02
     
  • Mon
    Mar 31
    2014
    $10.00
     
  • Tue
    Apr 01
    2014
    $9.99
     
  • Wed
    Apr 02
    2014
    $9.98
     
  • Thu
    Apr 03
    2014
    $9.99
     
  • Fri
    Apr 04
    2014
    $10.01
     
  • Mon
    Apr 07
    2014
    $10.02
     
  • Tue
    Apr 08
    2014
    $10.03
     
  • Wed
    Apr 09
    2014
    $10.03
     
  • Thu
    Apr 10
    2014
    $10.05
     
  • Fri
    Apr 11
    2014
    $10.05
     
  • Mon
    Apr 14
    2014
    $10.05
     
  • Tue
    Apr 15
    2014
    $10.05
     
  • Wed
    Apr 16
    2014
    $10.05
     
  • Thu
    Apr 17
    2014
    $10.03
     
  • Mon
    Apr 21
    2014
    $10.03
     
  • Tue
    Apr 22
    2014
    $10.03
     
  • Wed
    Apr 23
    2014
    $10.04
     
 
52 Week High $10.44
(4/26/2013)
52 Week Low $9.87
(12/31/2013)
Net Asset Class $152,342,353.91
Net Asset Fund $232,455,501.48
Yields
  3/31/2014
30-Day SEC Yield 2.44%
30-Day SEC Yield (Unsubsidized) 2.22%
Dividend Yield 3.06%

Must be preceded or accompanied by a prospectus

Basics
Ticker JMTSX
CUSIP 4812A4435
Share Class Inception Date 06/16/2008
Fund Number 3218
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.

The Fund may invest a significant or all of its assets in mortgage-backed securities, including sub-prime mortgage-related securities.

International investing involves a greater degree of risk and increased volatility. Changes in currency exchange rates and differences in accounting and taxation policies outside the U.S. can raise or lower returns. Also, some overseas markets may not be as politically and economically stable as the United States and other nations.

The Fund may invest up to 35% of the Fund's total net assets in foreign securities.

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 has the ability to invest up to 35% of its total assets in high yield securities.

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.

The Fund may engage in short sales. There is no guarantee that the use of long and short positions will succeed in limiting the Fund's exposure to domestic stock market movements, capitalization, sector-swings or other risk factors. Investment in a portfolio involved in long and short selling may have higher portfolio turnover rates. This will likely result in additional tax consequences. Short selling involves certain risks, including additional costs associated with covering short positions and a possibility of unlimited loss on certain short sale positions.

The Fund anticipates a very high degree of portfolio turnover. This will likely result in additional tax consequences.

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

The Barclays U.S. Aggregate Index is an unmanaged index that represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. 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 Core Plus Bond 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.

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 for certain periods since the inception date. If fees had not been waived, performance would have been less favorable.

©2014, 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.