Use the Guide
Browse the Guide
Portfolio Discussions
Dr. Kelly's Review
Use the Guide
Guide to Retirement
Discussions
Client Presentation
Headlines
Employment & the Fed
Navigating fiscal uncertainty
European Markets
U.S. Recovery
Headlines
Employment & the Fed
Navigating fiscal uncertainty
European Markets
U.S. Recovery
Featured Topics
Fixed Income
U.S. Equities
Income Opportunities
Global Growth
Looking for other topics? Visit the Library
Choose a Shortcut

Current Income Fund - Select (JPCSX)

Current Income Fund - Select (JPCSX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources

Objective

The Fund seeks current income while seeking to maintain a low volatility of principal.

Strategy/Investment process

  • Mainly invests in high quality, U.S. dollar-denominated short-term fixed and floating rate debt securities.
  • The Fund's dollar-weighted average maturity will normally be 90 days or less and it will invest more than 25% of its assets in securities issued by companies in the banking industry.
  • Assets are allocated among a range of sectors and individual securities, that the Fund's advisor believes will perform well over time, based on strategic positioning and other tactical considerations.
Performance basics
  Annualized returns (as of 3/31/2014)
  1 Year 3 Year 5 Year Incept
at NAV 0.02% N/A N/A 0.07%
BofA Merrill Lynch 3-Month U.S. Treasury Bill Index 0.07% N/A N/A 0.08%
Lipper Ultra Short Obligation Funds Index 0.52% N/A N/A 0.92%**

Performance Inception Date:7/21/11

**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 0.40%
Total annual operating expenses 2.19%
Fee waivers and/or expense reimbursements 1.79%
Net expenses 0.40%

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 4/23/2014)
NAV YTD
$10.00 0.00%
$0.00 | 0.00%  
 
NAV as of:
  • Fri
    Mar 14
    2014
    $10.00
     
  • Mon
    Mar 17
    2014
    $10.00
     
  • Tue
    Mar 18
    2014
    $10.00
     
  • Wed
    Mar 19
    2014
    $10.00
     
  • Thu
    Mar 20
    2014
    $10.00
     
  • Fri
    Mar 21
    2014
    $10.00
     
  • Mon
    Mar 24
    2014
    $10.00
     
  • Tue
    Mar 25
    2014
    $10.00
     
  • Wed
    Mar 26
    2014
    $10.00
     
  • Thu
    Mar 27
    2014
    $10.00
     
  • Fri
    Mar 28
    2014
    $10.00
     
  • Mon
    Mar 31
    2014
    $10.00
     
  • Tue
    Apr 01
    2014
    $10.00
     
  • Wed
    Apr 02
    2014
    $10.00
     
  • Thu
    Apr 03
    2014
    $10.00
     
  • Fri
    Apr 04
    2014
    $10.00
     
  • Mon
    Apr 07
    2014
    $10.00
     
  • Tue
    Apr 08
    2014
    $10.00
     
  • Wed
    Apr 09
    2014
    $10.00
     
  • Thu
    Apr 10
    2014
    $10.00
     
  • Fri
    Apr 11
    2014
    $10.00
     
  • Mon
    Apr 14
    2014
    $10.00
     
  • Tue
    Apr 15
    2014
    $10.00
     
  • Wed
    Apr 16
    2014
    $10.00
     
  • Thu
    Apr 17
    2014
    $10.00
     
  • Mon
    Apr 21
    2014
    $10.00
     
  • Tue
    Apr 22
    2014
    $10.00
     
  • Wed
    Apr 23
    2014
    $10.00
     
 
52 Week High $10.00
(4/25/2013)
52 Week Low $10.00
(4/25/2013)
Net Asset Class $100,197.65
Net Asset Fund $10,060,872.15
Yields
  3/31/2014
30-Day SEC Yield -0.03%
30-Day SEC Yield (Unsubsidized) -1.70%
Dividend Yield 0.00%

Must be preceded or accompanied by a prospectus

Basics
Ticker JPCSX
CUSIP 48121L486
Share Class Inception Date 07/21/2011
Fund Number 2802
Asset Class Taxable Fixed Income
Cut-off time1 4:00 P.M.

The Fund mainly invests in high quality, U.S. dollar-denominated short-term fixed and floating rate debt securities. Floating and variable rate securities may be subject to greater liquidity risk than other debt securities, meaning that there may be limitations on the Fund's ability to sell the securities at any given time. Such securities also may lose value.

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 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.

Because the Fund may invest a significant portion of its assets in securities of companies in the banking industry, developments affecting the banking industry may have a disproportionate impact on the Fund.

Under normal conditions, the Fund will invest more than 25% of its assets in securities issued by companies in the banking industry.

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

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 performance of the Lipper Ultra Short Obligation 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.

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.