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Corporate Bond Fund - Select (CBFSX)

Corporate Bond Fund - Select (CBFSX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources

Objective

The Fund seeks to provide total return.

Strategy/Investment process

  • The Fund mainly invests in corporate bonds that are rated investment grade.
  • As part of its principal strategy, the Fund invests in corporate bonds structured as public or private placements, restricted securities or other unregistered securities.
  • The Fund is managed relative to the Barclays U.S. Corporate Index.
  • The Fund will not invest more than 25% of the value of its total assets in the securities of companies conducting their principal business activities in the same industry, except that, to the extent that an industry represents 20% or more of the Fund's benchmark at the time of investment, the Fund may invest up to 35% of its total assets in that industry.
Performance basics
  Annualized returns (as of 3/31/2014)
  1 Year 3 Year 5 Year Incept
at NAV 1.48% N/A N/A 0.87%
Barclays U.S. Aggregate Index -0.10% N/A N/A -0.02%**
Barclays U.S. Corporate Index 1.47% N/A N/A 1.37%**
Lipper Corporate Debt Funds BBB-Rated Index N/A N/A N/A N/A

Performance Inception Date:3/1/13

**Returns are calculated starting from the month end previous to the performance inception date. The performance quoted is past performance and is not a guarantee of future results.

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.

Annual operating expenses (%)
Expense cap expiration date 06/30/2014
Expense cap 0.50%
Total annual operating expenses 0.99%
Fee waivers and/or expense reimbursements 0.49%
Net expenses 0.50%

Fee waivers and/or expense reimbursements,Net Expenses
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.

Minimum investments
Minimum investments Minimum subsequent investments
Regular $1M Regular No Minimum.
IRA $1M IRA No Minimum.
Daily stats (as of 4/16/2014)
NAV YTD
$9.95 4.20%
$0.00 | 0.00%  
 
NAV as of:
  • Fri
    Mar 07
    2014
    $9.77
     
  • Mon
    Mar 10
    2014
    $9.77
     
  • Tue
    Mar 11
    2014
    $9.78
     
  • Wed
    Mar 12
    2014
    $9.79
     
  • Thu
    Mar 13
    2014
    $9.83
     
  • Fri
    Mar 14
    2014
    $9.82
     
  • Mon
    Mar 17
    2014
    $9.80
     
  • Tue
    Mar 18
    2014
    $9.81
     
  • Wed
    Mar 19
    2014
    $9.78
     
  • Thu
    Mar 20
    2014
    $9.78
     
  • Fri
    Mar 21
    2014
    $9.81
     
  • Mon
    Mar 24
    2014
    $9.83
     
  • Tue
    Mar 25
    2014
    $9.84
     
  • Wed
    Mar 26
    2014
    $9.86
     
  • Thu
    Mar 27
    2014
    $9.88
     
  • Fri
    Mar 28
    2014
    $9.86
     
  • Mon
    Mar 31
    2014
    $9.84
     
  • Tue
    Apr 01
    2014
    $9.83
     
  • Wed
    Apr 02
    2014
    $9.81
     
  • Thu
    Apr 03
    2014
    $9.83
     
  • Fri
    Apr 04
    2014
    $9.87
     
  • Mon
    Apr 07
    2014
    $9.89
     
  • Tue
    Apr 08
    2014
    $9.90
     
  • Wed
    Apr 09
    2014
    $9.90
     
  • Thu
    Apr 10
    2014
    $9.94
     
  • Fri
    Apr 11
    2014
    $9.94
     
  • Mon
    Apr 14
    2014
    $9.94
     
  • Tue
    Apr 15
    2014
    $9.95
     
  • Wed
    Apr 16
    2014
    $9.95
     
 
52 Week High $10.17
(5/02/2013)
52 Week Low $9.38
(9/05/2013)
Net Asset Class $15,381,078.46
Net Asset Fund $673,415,522.43
Yields
  3/31/2014
30-Day SEC Yield 3.02%
30-Day SEC Yield (Unsubsidized) 2.84%
Dividend Yield 2.63%

Must be preceded or accompanied by a prospectus

Basics
Ticker CBFSX
CUSIP 46637K554
Share Class Inception Date 03/01/2013
Fund Number 2998
Asset Class Taxable Fixed Income
Cut-off time1 4:00 P.M.

Concentrating Fund investments in companies conducting business in the same industry will subject the Fund to a greater risk of loss as a result of adverse economic, business or other developments affecting that industry than if its investments were not so concentrated.

The Fund's investments in bonds and other debt securities will change in value based on changes in interest rates. If rates rise, the value of these investments generally drops. The Fund may invest in variable and floating rate securities. Although these instruments are generally less sensitive to interest rate changes than other fixed rate instruments, the value of floating rate securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates.

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 invests in foreign and emerging markets securities which are subject to greater volatility and special risks in addition to those of U.S. investments. The Fund may invest in securities issued or guaranteed by foreign governmental entities (known as sovereign debt securities). These investments are subject to the risk of payment delays or defaults. There is no legal or bankruptcy process for collecting sovereign debt.

1Please refer to the prospectus for additional information about cut-off times.

The Barclays U.S. Aggregate Index is an unmanaged index that represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. 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 U.S. Corporate Index is a broad-based benchmark that measures the investment grade, fixed-rate, taxable, corporate bond market. It includes USD denominated securities publicly issued by U.S. and non-U.S. industrial, utility, and financial issuers that meet specified maturity, liquidity, and quality requirements. Securities in the index roll up to the U.S. Credit and U.S. Aggregate Indices. The U.S. Corporate Index was launched on January 1, 1973.

The performance of the Lipper Corporate Debt Funds BBB-Rated 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.

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.

©2014, American Bankers Association, CUSIP Database provided by the Standard & Poor's CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. All rights reserved.