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International Realty Fund - A (JIRAX)

International Realty Fund - A (JIRAX)
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 -1.31% -1.61% -1.61% -2.63% 4.43% 16.24% -0.84%
With 5.25% max. sales charge -6.49% -6.76% -6.76% -7.71% 2.56% 14.98% -1.56%
MSCI EAFE Index (net of foreign withholding taxes) -0.64% 0.66% 0.66% 17.56% 7.21% 16.02% 2.22%
FTSE EPRA/NAREIT Developed ex US Net of Tax US Tax Stance (net of foreign withholdings taxes) -0.26% -1.24% -1.24% -0.28% 6.60% 19.20% 0.51%
Lipper International Real Estate Funds Average -0.02% -0.23% -0.23% -1.38% 5.50% 17.52% -0.87%

Performance Inception Date:11/30/06

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 -2.63% 13.88% 112.26% -5.99%
With 5.25% max. sales charge -7.71% 7.88% 100.97% -10.91%
Calendar year returns
 
at NAV
MSCI EAFE Index (net of foreign withholding taxes)
FTSE EPRA/NAREIT Developed ex US Net of Tax US Tax Stance (net of foreign withholdings taxes)
Lipper International Real Estate Funds Average
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
N/A N/A N/A -4.87% -46.32% 33.91% 15.44% -18.54% 39.60% 2.21%
N/A N/A N/A 11.17% -43.38% 31.78% 7.75% -12.14% 17.32% 22.78%
N/A N/A N/A -0.75% -51.97% 44.53% 16.01% -15.48% 38.25% 5.95%
N/A N/A N/A -2.75% -49.78% 41.51% 14.25% -17.75% 40.76% 2.63%
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 1.40%
Total annual operating expenses 1.66%
Fee waivers and/or expense reimbursements 0.26%
Net expenses 1.40%

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: Global Real Estate
Overall
169 funds in category
3 Year
169 funds in category
5 Year
151 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.

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's investments in real estate securities are subject to the same risks as direct investments in real estate. Real estate values rise and fall in response to many factors, including local, regional and national economic conditions, the demand for rental property, and interest rates. When economic growth is slowing, demand for property decreases and prices may fall. Rising interest rates, which drive up mortgage and financing costs, can affect the profitability and liquidity of properties in the real estate market. Property values may also decrease because of overbuilding, extended vacancies, increase in property taxes and operating expenses, zoning laws, environmental regulations, clean-up of and liability for environmental hazards, uninsured casualty or condemnation losses, or a general decline in neighborhood values. The Fund's investments and your investment may decline in response to declines in property values or other adverse changes to the real estate market. The performance of the real estate securities in which the Fund invests is also largely dependent on the organization, skill and capital funding of the managers and operators of the underlying real estate. In addition to the risks facing real estate securities, the Fund's investments in REITs involve unique risks. REITs may have limited financial resources, may trade less frequently and in limited volume and may be more volatile than other securities. REITs and other investment vehicles in which the Fund may invest are subject to complicated tax rules. The tax laws that apply to these investment vehicles have the potential to create negative tax consequences for the Fund, or for certain shareholders of the Fund, including, in particular, charitable remainder trusts and non-U.S. taxpayers.

The MSCI EAFE (Europe, Australia, Far East) Index (net of foreign withholding taxes) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. 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. Total return figures assume the reinvestment of dividends. The dividend is reinvested after deduction of withholding tax, applying the maximum rate to nonresident individual investors who do not benefit from double taxation treaties. An individual cannot invest directly in an index.

The FTSE EPRA/NAREIT Developed ex US Net of Tax US Tax Stance (net of foreign withholdings taxes) is a subset of the FTSE EPRA/NAREIT Developed Index, where the FTSE EPRA/NAREIT Developed Index is designed to track the performance of listed real estate companies and REITS worldwide, and the FTSE EPRA/NAREIT Developed ex US Net of Tax US Tax Stance excludes all US companies and is net of foreign withholding taxes from the perspective of a U.S. investor. All index constituents are fully free float adjusted in accordance with FTSE's index rules, to reflect the actual availability of stock in the market for public investment. Each FTSE constituent weighting is adjusted to reflect restricted shareholdings and foreign ownership to ensure an accurate representation of investable market capitalization. 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. Investors cannot invest directly in an index.

The performance of the Lipper International Real Estate Funds 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. 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.