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Tax Aware Real Return Fund - C (TXRCX)

Tax Aware Real Return Fund - C (TXRCX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources
Deepa Majmudar
Deepa Majmudar| Managing Director Biography

Deepa Majmudar, managing director, is a senior portfolio manager and inflation specialist within the Global Fixed Income, Currency & Commodities (GFICC) group. Based in New York, Deepa focuses on strategies and tactics for diversified products and their included asset classes. An employee since 2003, Deepa was previously a member of the tax aware fixed income group. Prior to joining the firm, she worked as a quantitative analyst at AllianceBernstein. Prior to that, Deepa was a research associate at Columbia University and a recipient of a NASA scholarship for her research in cosmology. She holds a B.E. from University of Bombay, and an M.Phil. and Ph.D. in astrophysics from Columbia University.

Education
  • B.E., University of Bombay
  • M.Phil.,Ph.D., Astrophysics, Columbia University
Experience
  • Industry Experience, 15 Years
  • Firm Experience, 11 Years
  • Fund Experience, 9 Years
Other funds managed by Deepa Majmudar:
Rick Taormina
Richard Taormina| Managing Director Biography

Richard D. Taormina, managing director, is head of the Tax Aware Strategies team within our Global Fixed Income, Currency & Commodities (GFICC) group. Based in New York, Rick is responsible for managing municipal and tax-aware mutual funds, high net worth and institutional fixed income accounts, and quantitative analysis. In 2001, Rick initiated a process that allows separately managed accounts to benefit from the power of the JPMorgan platform, including systematic strategic management, institutional level trade execution, and improved portfolio benchmarking. Rick also expanded the use of quantitative analysis and tools, allowing individuals to benefit from strategies previously available only to institutional and taxable buyers. Rick joined the firm as a state-specific mutual fund manager and strategist. Prior to joining the firm in 1997, Rick was a senior trader for national, high-yield, and state-specific funds at the Vanguard Group. He has been a municipal bond manager since 1990. Rick holds a B.A. in economics from the University of Delaware, an M.B.A. in finance from Wilmington College, and is a Certified Financial Planner (CFP).

Education
  • B.A., Economics, University of Delaware
  • M.B.A., Finance, Wilmington College
Experience
  • Industry Experience, 24 Years
  • Firm Experience, 17 Years
  • Fund Experience, 9 Years
Other funds managed by Richard Taormina:

The Fund is designed to maximize inflation-protected return, which means maximizing the "real return." Real return is the total of a security less the actual rate of inflation.

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 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.

The Fund may invest in mortgage-related and asset-backed securities that may or may not be guaranteed by governments and their agencies, supranational organizations, corporations, or banks. The value of these assets will be influenced by factors affecting the assets underlying such securities. During periods of declining asset values, the asset-backed securities may decline in value.

The Fund's tax aware strategies may reduce the amount of taxable income that you recognize as a result of your investment in the Fund but will not eliminate it. These strategies may require trade-offs that reduce pre-tax income.

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.