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Tax Aware High Income Fund - Select (JTISX)

Tax Aware High Income Fund - Select (JTISX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources
Top ten holdings (as of 6/30/2015)
1. Texas Transportation Commission, State Highway Improvement, 5.00%, 4/1/2030 1.0%
2. Port of Seattle, 5.00%, 9/1/2025 1.0%
3. Tampa-Hillsborough County Expressway Authority, 5.00%, 7/1/2027 1.0%
4. Alachua County Health Facilities Authority, Shands Teaching Hospital and Clinics, Inc., 5.00%, 12/1/2026 1.0%
5. Harris County Industrial Development Corp., Solid Waste Disposal, Deer Park Refining Limited Partnership Project, 5.00%, 2/1/2023 1.0%
6. Massachusetts Housing Finance Agency, Single Family Housing, 4.00%, 12/1/2044 0.9%
7. Energy Future Intermediate Holdings Co. LLC., 1st Lien Term Loan, 0.00%, 6/19/2016 0.9%
8. Connecticut State Higher Education Supplemental Loan Authority, CHESLA Loan Program, 4.00%, 11/15/2019 0.9%
9. Orlando Community Redevelopment Agency, Republic Drive, Tax Allocation, 5.00%, 4/1/2017 0.8%
10. Broward County School Board, 5.00%, 7/1/2024 0.8%
Total of top ten 9.3%
Portfolio breakdown* (as of 6/30/2015)
Loan Assignments 16.9%
Municipal Bonds 79.3%
Short-Term Investments 3.3%
Other 0.5%

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

Average life* (as of 6/30/2015)
Years 0-2 11.3%
Years 2-4 9.1%
Years 4-6 15.3%
Years 6-8 11.1%
Years 8-10 7.5%
Years 10-12 7.9%
Years 12-17 16.1%
Years 17-22 5.3%
Years 22+ 16.5%
Duration 5.05 years
Average Maturity 11.07 years
Average Life 5.65 years

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

Contribution to duration (in years) (as of 6/30/2015)
Revenue 4.23
GO 0.54
Other 0.22
Pre-refunded 0.08
Insured 0.07
Portfolio stats (as of 6/30/2015)
Number of Holdings 385
Fund Assets $116.41
(in millions)
Turnover Ratio 10.32%
(Trailing 12 month) (2/28/2015)
Yield to maturity 3.15%
Quality* (as of 6/30/2015)
AAA 13.7%
AA 39.2%
A 19.4%
BAA 10.7%
<=BA & NR 17.1%

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 has the ability to invest in municipal securities, the income from which is exempt from federal income tax. The risk of a municipal obligation generally depends on the financial and credit status of the issuer.

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 loan assignments and participation will typically consist of senior floating rate loans, but may also include secured and unsecured loans and may also be from U.S. or foreign obligors.

The Fund may invest in derivatives that may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions and could result in losses that significantly exceed the Fund's original investment. Many derivatives create leverage that can cause the Fund to be more volatile than it would be if it had not used derivatives.

For some investors, income may be subject to the Alternative Minimum Tax. Capital gains, if any, are federally taxable. Income may be subject to state and local taxes.

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.