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International Currency Income Fund - Select (JCISX)

International Currency Income Fund - Select (JCISX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources
Performance basics
  Total returns
(as of 3/31/2014)
Annualized returns
(as of 3/31/2014)
  1
Month
3
Month

YTD
1
Year
3
Year
5
Year
Incept
at NAV 0.36% -0.27% -0.27% -1.07% 0.00% 4.19% 3.22%
Barclays Global Treasury Ex-U.S. 1-3 Year Index -0.26% 1.15% 1.15% 0.91% -1.56% 2.31% 3.33%
Barclays Global Ex-USD Benchmark Currency (Trade-Weighted) Index 0.35% -0.09% -0.09% 0.27% -0.26% 3.12% 1.87%
Lipper Alternative Currency Strategies Average 0.62% -0.04% -0.04% -2.49% -1.34% 3.22% 1.86%

Performance Inception Date:3/30/07

The performance quoted is past performance and is not a guarantee of future results. Mutual funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Current performance may be higher or lower than the performance data shown. For performance current to the most recent month-end, please call 1-800-480-4111.

Benchmark since inception returns are as of month-end. The performance quoted is past performance and is not a guarantee of future results.

 

Cumulative returns (as of 3/31/2014)
  1 Year 3 Year 5 Year Incept
at NAV -1.07% -0.01% 22.79% 24.85%
Share price stability
Calendar year returns
 
at NAV
Barclays Global Treasury Ex-U.S. 1-3 Year Index
Barclays Global Ex-USD Benchmark Currency (Trade-Weighted) Index
Lipper Alternative Currency Strategies Average
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
N/A N/A N/A N/A 0.03% 7.93% 5.81% -0.46% 4.06% -1.46%
N/A N/A N/A N/A 7.64% 4.39% 4.81% 2.41% -1.52% -4.90%
N/A N/A N/A N/A -6.71% 7.95% 3.91% -0.66% 3.14% -0.59%
N/A N/A N/A N/A -6.96% 11.31% 4.96% -3.15% 4.29% -3.02%
Browse your yearly returns: 2004
2013

N/A: Not available at this time


Annual operating expenses (%)
Expense cap expiration date 02/28/2015
Expense cap 0.60%
Total annual operating expenses 0.98%
Fee waivers and/or expense reimbursements 0.35%
Net expenses 0.63%

Net Expenses,Fee waivers and/or expense reimbursements
The Investment Advisor, Administrator and Distributor (the "Service Providers") have contractually agreed to waive fees and/or reimburse expenses to the extent that Total Annual Operating Expenses (excluding Acquired Fund Fees and Expenses, dividend expenses relating to short sales, interest, taxes, expenses related to litigation and potential litigation, extraordinary expenses and expenses related to the Board of Trustees' deferred compensation plan) exceed the expense cap of the average daily net assets through the expense cap expiration date. This contract continues through that date, at which time the Service Providers will determine whether or not to renew or revise it.

Yields
  3/31/2014
30-Day SEC Yield 1.42%
30-Day SEC Yield (Unsubsidized) 0.92%

The Fund's fixed income securities are subject to interest rate risk. If rates increase, the value of the Fund's investments generally declines.

Ordinarily the Fund will invest at least 80% of its total assets in fixed income and other debt securities denominated in foreign currencies.

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 10% of its total assets in high yield securities.

The Fund may invest in futures contracts, options, swaps, forwards and other derivatives. Many derivatives create leverage thereby causing the Fund to be more volatile than it would be if it had not used derivatives. Derivatives may be more sensitive to changes in economic and market conditions and could result in losses that significantly exceed the Fund's original investment.

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 Barclays Global Treasury Ex-U.S. 1-3 Year Index measures the performance of fixed-rate local currency sovereign debt of investment grade countries outside the United States that have remaining maturities of one to three years. The performance of the index does not reflect the deduction of expenses associated with a fund, such as investment management fees. By contrast, the performance of the Fund reflects the deduction of the fund expenses, including sales charges if applicable. An individual cannot invest directly in an index.

The Barclays Global Ex-USD Benchmark Currency (Trade-Weighted) Index is a total return index that is constructed to track the returns performance of a basket of 1-month cash-settled currency forward positions in a basket of currencies versus the US dollar. The performance of the index does not reflect the deduction of expenses associated with a mutual fund, such as investment management fees. By contrast, the performance of the Fund reflects the deduction of the mutual fund expenses, including sales charges if applicable. An individual cannot invest directly in an index.

The performance of the Lipper Alternative Currency Strategies Average includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses charged by the Fund.

Total return assumes reinvestment of dividends and capital gains distributions and reflects the deduction of any sales charges, where applicable. Performance may reflect the waiver of a portion of the Fund's advisory or administrative fees for certain periods since the inception date. If fees had not been waived, performance would have been less favorable.