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
U.S. Equities
Income Opportunities
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
William J. Morgan
William J. Morgan| Managing Director Biography

William J. Morgan, managing director, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. Based in Cincinnati, Bill is the team leader and senior portfolio manager for the High Yield team and is responsible for overseeing high yield, loans and distressed strategies. An employee since 1998, he held the same role at Banc One High Yield Partners, LLC and Pacholder Associates, Inc. Bill holds a B.A. in history from Kenyon College and an M.B.A from Xavier University.

Education
  • B.A., Kenyon College
  • M.B.A., Xavier University
Experience
  • Industry Experience, 32 Years
  • Firm Experience, 30 Years
  • Fund Experience, 3 Years
Other funds managed by William J. Morgan:
James P. Shanahan Jr.
James P. Shanahan| Managing Director Biography

James P. Shanahan, Jr., managing director, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. Based in Cincinnati, Jim is the team leader and senior portfolio manager for the High Yield team and focuses on higher risk credits, including leveraged loans, distressed and special situations investments in high yield mandates. An employee since 1998, he held the same role at Banc One High Yield Partners, LLC and Pacholder Associates, Inc. He graduated from Xavier University and holds a J.D. from the University Of Cincinnati College Of Law.

Education
  • B.A., Xavier University
  • J.D., University of Cincinnati, College of Law
Experience
  • Industry Experience, 28 Years
  • Firm Experience, 28 Years
  • Fund Experience, 3 Years
Other funds managed by James P. Shanahan:

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.