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Mortgage-Backed Securities Fund - A (OMBAX)

Mortgage-Backed Securities Fund - A (OMBAX)
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. Government National Mortgage Association, Class XQ 1.2%
2. Federal Home Loan Mortgage Corp. STRIPS, Class 35 1.2%
3. Federal National Mortgage Association, Other 0.9%
4. Government National Mortgage Association, Class FA 0.8%
5. Federal National Mortgage Association, Other 0.8%
6. Government National Mortgage Association, Class FE 0.7%
7. Federal National Mortgage Association, Other 0.7%
8. Government National Mortgage Association, Class DF 0.7%
9. Government National Mortgage Association, Class CF 0.7%
10. Federal National Mortgage Association, Other 0.6%
Total of top ten 8.3%
Portfolio breakdown* (as of 3/31/2014)
Asset-Backed Securities 3.9%
Collateralized Mortgage Obligations 53.6%
Commercial Mortgage-Backed Securities 4.3%
Mortgage Pass-Through Securities 36.9%
Other 1.3%

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

Average life* (as of 3/31/2014)
Less than one year 4.6%
Years 1-3 14.9%
Years 3-5 26.0%
Years 5-7 29.3%
Years 7-10 22.7%
Years 10-20 2.5%
Duration 3.8 years
Average Life 5.24 years

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

Portfolio stats (as of 3/31/2014)
Number of Holdings 2134
Fund Assets $2.75
(in billions)
Turnover Ratio 19.00%
(Trailing 12 month) (2/28/2013)
Yield to maturity 2.70%
Quality* (as of 3/31/2014)
AAA 80.0%
AA 2.2%
A 3.2%
BBB 4.0%
BB 1.9%
B 1.2%
CCC or Lower 2.2%
Not rated 5.4%

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 in collateralized mortgage obligations (CMOs), Mortgage-related, and asset-backed securities which are subject to certain risks. Under normal circumstances, the Fund will invest at least 80% of its assets in mortgage-backed securities, and as a matter of policy at least 65% of the Fund's assets in bonds.

The Fund may invest up to 10% of its assets in "sub-prime" mortgage-related securities. The risk of defaults is generally higher in the case of mortgage-backed investments that include so-called "sub-prime" mortgages. The structure of some of these securities may be complex and there may be less available information than other types of debt 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 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.