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Corporate Bond Fund - R6 (CBFVX)

Corporate Bond Fund - R6 (CBFVX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources
Top ten holdings (as of 10/31/2015)
1. Verizon Communications, Inc., 4.86%, 8/21/2046 0.9%
2. Goldman Sachs Group, Inc. (The), 3.50%, 1/23/2025 0.8%
3. Citigroup, Inc., 1.80%, 2/5/2018 0.8%
4. Time Warner, Inc., 4.75%, 3/29/2021 0.7%
5. Bank of America Corp., 2.60%, 1/15/2019 0.7%
6. Capital One Bank USA N.A., 3.38%, 2/15/2023 0.7%
7. General Electric Co., 4.50%, 3/11/2044 0.6%
8. Credit Suisse, 1.70%, 4/27/2018 0.6%
9. HSBC USA, Inc., 2.75%, 8/7/2020 0.6%
10. AT&T, Inc., 3.40%, 5/15/2025 0.6%
Total of top ten 7.0%
Portfolio breakdown* (as of 10/31/2015)
Basic industry 1.9
Capital goods 2.4
Communications 10.0
Consumer Cyclical 7.5
Consumer Noncyclical 13.3
Energy 8.2
Financial Institutions 39.0
Other 0.1
Other Industrial 0.1
Technology 4.5
Transportation 1.7
Utility 7.6
Cash 3.9

* Due to rounding, values may not total 100%.

Average life* (as of 10/31/2015)
Less than one year 4.0%
Years 1-3 10.4%
Years 3-5 16.0%
Years 5-7 14.7%
Years 7-10 27.0%
Years 10-20 3.4%
Years 20+ 24.4%
Duration 7.18 years
Average Maturity 11.92 years
Average Life 10.85 years

* Due to rounding, values may not total 100%.

Contribution to duration (in years) (as of 10/31/2015)
Financial Institutions 2.14
Consumer Noncyclical 0.99
Communications 0.89
Energy 0.69
Utility 0.68
Consumer Cyclical 0.57
Technology 0.47
Capital goods 0.27
Basic industry 0.18
Transportation 0.15
Cash 0.12
Other Industrial 0.02
Other 0.01
Portfolio stats (as of 10/31/2015)
Number of Holdings 613
Fund Assets $1.71
(in billions)
Turnover Ratio 73.71%
(Trailing 12 month) (2/28/2015)
Bond equivalent yield 3.77%
Quality* (as of 10/31/2015)
AAA 5.2%
AA 4.1%
A 32.5%
BBB 47.9%
BB 7.6%
B 2.2%
CCC & Lower/Other 0.5%

The manager receives credit quality ratings on underlying securities of the portfolio from the three major ratings agencies - S&P, Moody's and Fitch. When calculating the credit quality breakdown, the manager selects the lowest rating of the agencies when all three agencies rate a security. The manager will use the lower of the two ratings if only two agencies rate a security and will use one rating if that is all that is provided. Securities that are not rated by all three agencies are reflected as such.

* Due to rounding, values may not total 100%.

What's this? Mouse over an  underlined  word to see its definition. Check out our glossary >

Concentrating Fund investments in companies conducting business in the same industry will subject the Fund to a greater risk of loss as a result of adverse economic, business or other developments affecting that industry than if its investments were not so concentrated.

The Fund's investments in bonds and other debt securities will change in value based on changes in interest rates. If rates rise, the value of these investments generally drops. The Fund may invest in variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates.

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 invests in foreign and emerging markets securities which are subject to greater volatility and special risks in addition to those of U.S. investments. The Fund may invest in securities issued or guaranteed by foreign governmental entities (known as sovereign debt securities). These investments are subject to the risk of payment delays or defaults. There is no legal or bankruptcy process for collecting sovereign debt.

Total return assumes reinvestment of income.

The top 10 holdings listed reflect only the Fund's long-term investments. Short-term investments are excluded. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security. Each individual security is calculated as a percentage of the aggregate market value of the securities held in the Fund and does not include the use of derivative positions, where applicable.