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
Income Opportunities
U.S. Equities
Global Growth
Looking for other topics? Visit the Library
Choose a Shortcut

Floating Rate Income Fund - Select (JPHSX)

Floating Rate Income Fund - Select (JPHSX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources
Top ten holdings (as of 4/30/2015)
1. SUPERVALU, Inc., Term Loan B, 0.00%, 3/21/2019 2.0%
2. New Albertsons, Inc., 1st Lien Term Loan B, 0.00%, 6/27/2021 1.8%
3. Texas Competitive Electric Holdings Co. LLC, Extended Term Loan, 0.00%, 10/10/2017 1.8%
4. Avaya, Inc., 1st Lien Term Loan B-3, 0.00%, 10/26/2017 1.4%
5. J. Crew Group, Inc., 1st Lien Term Loan B, 0.00%, 3/5/2021 1.3%
6. Delta Air Lines, Inc., Term Loan B-1, 0.00%, 10/18/2018 1.3%
7. Albertsons LLC, 2019 Term Loan, 0.00%, 3/21/2019 1.3%
8. Avago Technologies Cayman Ltd., 1st Lien Term Loan B, 0.00%, 5/6/2021 1.3%
9. J.C. Penney Co., Inc., 1st Lien Term Loan, 0.00%, 5/22/2018 1.3%
10. Tribune Media Co., Initial Term Loan, 0.00%, 12/27/2020 1.3%
Total of top ten 14.8%
Sector breakdown* (as of 4/30/2015)
Consumer Discretionary 24.7%
Consumer Staples 11.8%
Energy 5.8%
Financials 3.9%
Health Care 9.7%
Industrials 13.8%
Information Technology 9.3%
Investment Company 5.4%
Materials 6.5%
Telecommunication Services 3.4%
Utilities 5.6%

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

Average life* (as of 4/30/2015)
Weighted average time to reset 0.15 years
Average Life 3.15 years

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

Yield to maturity* (as of 4/30/2015)
5.0%-5.9% 15.08%
6.0%-6.9% 7.88%
7.0%-7.9% 1.98%
8.0%-8.9% 2.82%
9.0%-9.9% 0.96%
10.0% and over 2.04%
  1.40%
  2.16%
  65.68%
Average yield to maturity 4.92

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

Portfolio stats (as of 4/30/2015)
Number of Issuers 303
Fund Assets $2.78
(in billions)
Turnover Ratio 61.00%
(Trailing 12 month) (8/31/2014)
Portfolio breakdown* (as of 4/30/2015)
Loan Assignments 82.0%
Corporate Bonds 12.0%
Short-Term Investments 5.4%
Other 0.5%

* 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 may invest all of its assets in Loans that are rated below investment grade. Like other high yield, corporate debt instruments, such Loans are subject to an increased risk of default in the payment of principal and interest as well as the other risks described below. The Fund limits its investments in illiquid securities to no more than 15% of the Fund's net assets at the time of purchase, however loans that are deemed to be liquid at the time of purchase may become illiquid.

The Fund may invest up to 20% of the Fund's total assets in foreign securities and emerging markets.

The Fund may use futures contracts, swaps, and derivatives in connection with its investment strategies. Derivatives are subject to the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index.

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.

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's investment in equity securities may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. When the value of a fund's securities goes down, an investment in a fund decreases in 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 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.

The weighted average time to reset is derived by multiplying the market value of each instrument by the number of days remaining to the shorter of its next coupon reset, expiry date for a put, or maturity date, adding these calculations, and then dividing the total by the market value of the Fund's total portfolio.

The rate of return anticipated on a bond if it is held until the maturity date.