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Strategic Preservation Fund - Select (JSPSX)

Strategic Preservation Fund - Select (JSPSX)
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 -1.33% 0.34% 0.34% 6.62% 4.07% 4.03% 2.44%
BofA Merrill Lynch 3-Month U.S. Treasury Bill Index 0.00% 0.01% 0.01% 0.07% 0.08% 0.12% 0.91%
Strategic Preservation Composite Benchmark 0.00% 1.48% 1.48% 4.65% 3.56% 6.27% 3.76%
Lipper Global Flexible Portfolio Funds Index -0.29% 1.43% 1.43% 10.18% 5.99% 13.54% 3.21%

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 6.62% 12.71% 21.87% 18.38%
Calendar year returns
 
at NAV
BofA Merrill Lynch 3-Month U.S. Treasury Bill Index
Strategic Preservation Composite Benchmark
Lipper Global Flexible Portfolio Funds Index
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
N/A N/A N/A N/A -7.11% 3.39% 4.37% 0.49% 1.04% 9.77%
N/A N/A N/A N/A 2.06% 0.21% 0.13% 0.10% 0.11% 0.07%
N/A N/A N/A N/A -6.59% 9.47% 5.40% 1.87% 5.35% 3.60%
N/A N/A N/A N/A -32.37% 27.02% 11.92% -4.69% 12.24% 13.34%
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 1.10%
Total annual operating expenses 1.56%
Fee waivers and/or expense reimbursements 0.43%
Net expenses 1.13%

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.

Morningstar ratings (as of 3/31/2014)
Morningstar category: Tactical Allocation
Overall
173 funds in category
3 Year
173 funds in category
5 Year
98 funds in category

2014, Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its providers; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damage or losses arising from any use of this information. Past performance is not a guarantee of future results. For each fund with a three-year history, Morningstar calculates a Morningstar Rating™ metric each month by subtracting the return on a 90-day U.S. Treasury Bill from the fund's load-adjusted return for the same period, and then adjusting this excess return for risk. The top 10% of funds in each broad asset class receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. Different share classes may have different ratings.

The Fund may use derivatives in connection with its investment strategies. Derivatives may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions than other types of investments and could result in losses that significantly exceed the Fund's original investment. Many derivatives will give rise to a form of leverage. Derivatives are also subject to the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index. The use of derivatives may not be successful, resulting in losses to the Fund, and the cost of such strategies may reduce the Fund's returns. Derivatives also expose the Fund to the credit risk of the derivative counterparty. In addition, the Fund may use derivatives for non-hedging purposes, which increases the Fund's potential for loss.

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

International investing involves a greater degree of risk and increased volatility. Changes in currency exchange rates and differences in accounting and taxation policies outside the U.S. can raise or lower returns. Also, some overseas markets may not be as politically and economically stable as the United States and other nations. The Fund may also invest in certain securities such as non-investment grade bonds, futures contracts and other derivatives, which contribute to fund volatility. These risks make emerging market securities more volatile and less liquid than securities issued in more developed countries. Securities rated below investment grade are called "high-yield bonds," "non-investment grade bonds," "below investment-grade bonds," or "junk bonds." They generally are 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. 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. The Fund may invest a portion of its securities in small-cap stocks. Small-capitalization funds typically carry more risk than stock funds investing in well-established "blue-chip" companies since smaller companies generally have a higher risk of failure. Historically, smaller companies' stock has experienced a greater degree of market volatility than the average stock.

The BofA Merrill Lynch 3-Month U.S. Treasury Bill Index is comprised of a single issue purchased at the beginning of the month and held for a full month. Each month the index is rebalanced and the issue selected is the outstanding Treasury Bill that matures closest to, but not beyond 3 months from the rebalancing date. 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 Strategic Preservation Composite Benchmark is a composite benchmark comprised of unmanaged indexes that includes 20% MSCI World Index (net of foreign withholding taxes), 50% Barclays Global Aggregate Bond Index and 30% BofA Merrill Lynch 3-Month U.S. Treasury Bill Index. The performance of the composite 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 fund expenses, including sales charges, if applicable. An individual cannot invest directly in an index.

The performance of the Lipper Global Flexible Portfolio Funds Index includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses charged by the Fund. An individual cannot invest directly in an index.

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.