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Current Income Fund - Select (JPCSX)

Current Income Fund - Select (JPCSX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources
Top ten holdings (as of 3/31/2014)
1. National Australia Bank Ltd. 3.5%
2. Royal Bank of Canada 3.5%
3. Svenska Handelsbanken 3.5%
4. Commonwealth Bank of Australia 3.5%
5. Metropolitan Life Global Funding I 3.5%
6. Rabobank Nederland N.V. 3.5%
7. Erste Abwicklungsanstalt 3.3%
8. Bank of Nova Scotia 3.0%
9. Credit Suisse 3.0%
10. Industrial & Commercial Bank of China Ltd. 3.0%
Total of top ten 33.3%
Portfolio breakdown* (as of 3/31/2014)
Certificate of Deposits 31.2%
Commercial Paper 37.9%
Corporate Bonds 15.0%
Repurchase Agreements 3.5%
Short-Term Investments 12.4%

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

Average life* (as of 3/31/2014)
Less than one year 100.0%
Duration 0.2 years
Average Maturity 0.28 years
Average Life 0.28 years

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

Contribution to duration (in years) (as of 3/31/2014)
Cash/Cash-Equivalent 0.20
Portfolio stats (as of 3/31/2014)
Number of Holdings 37
Fund Assets $10.06
(in millions)
Turnover Ratio 42.00%
(Trailing 12 month) (2/28/2013)
Yield to maturity 0.30%
Quality* (as of 3/31/2014)
AA 9.9%
A 5.6%
A-1+ 26.5%
A-1 58.0%

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 >

The Fund mainly invests in high quality, U.S. dollar-denominated short-term fixed and floating rate debt securities. Floating and variable rate securities may be subject to greater liquidity risk than other debt securities, meaning that there may be limitations on the Fund's ability to sell the securities at any given time. Such securities also may lose value.

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 in mortgage-related and asset-backed securities that may or may not be guaranteed by governments and their agencies, supranational organizations, corporations, or banks. The value of these assets will be influenced by factors affecting the assets underlying such securities. During periods of declining asset values, the asset-backed securities may decline in value.

Because the Fund may invest a significant portion of its assets in securities of companies in the banking industry, developments affecting the banking industry may have a disproportionate impact on the Fund.

Under normal conditions, the Fund will invest more than 25% of its assets in securities issued by companies in the banking industry.

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.