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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
Top ten holdings (as of 3/31/2014)
1. Federal Home Loan Mortgage Corp. Gold Pools, 30 Year, Single Family 3.8%
2. Government National Mortgage Association, 30 Year, Single Family 3.5%
3. Federal Home Loan Mortgage Corp. 2.6%
4. Federal National Mortgage Association, 15 Year, Single Family 2.1%
5. Federal Home Loan Mortgage Corp. Gold Pools, 30 Year, Single Family 2.0%
6. Federal National Mortgage Association 1.9%
7. Government National Mortgage Association, 30 Year, Single Family 1.8%
8. Federal National Mortgage Association, 15 Year, Single Family 1.6%
9. Commercial Mortgage Trust, Class A4 1.2%
10. European Investment Bank 1.1%
Total of top ten 21.6%
Portfolio breakdown* (as of 3/31/2014)
Agency 3.5
Asset Backed Securities 4.6
Cash/Cash-Equivalent 1.0
Corporate (High Yield) 14.5
Corporate (Investment Grade) 31.2
Mortgage (Non-Call) 6.2
Mortgage (Prepay Sensitive) 32.9
Non-Corporate Credit 2.2
Treasuries/Futures 3.9

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

Average life* (as of 3/31/2014)
Less than one year 5.4%
Years 1-3 10.0%
Years 3-5 19.3%
Years 5-7 23.5%
Years 7-10 17.9%
Years 10-20 3.7%
Years 20+ 20.3%
Duration 4.57 years
Average Maturity 14.76 years
Average Life 6.25 years

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

Contribution to duration (in years) (as of 3/31/2014)
Corporate (Investment Grade) 1.79
Mortgage (Prepay Sensitive) 1.72
Treasuries/Futures 0.71
Corporate (High Yield) 0.32
Agency 0.12
Non-Corporate Credit 0.06
Mortgage (Non-Call) 0.04
Other -0.21
Portfolio stats (as of 3/31/2014)
Number of Holdings 374
Fund Assets $210.47
(in millions)
Turnover Ratio 432.00%
(Trailing 12 month) (2/28/2013)
Yield to maturity 2.44%
Quality* (as of 3/31/2014)
AAA 44.3%
AA 6.2%
A 16.5%
BBB 13.1%
BB 6.9%
B 6.4%
CCC & Lower/Other 6.7%

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 middle 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'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.

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.