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International Currency Income Fund - C (JNCCX)

International Currency Income Fund - C (JNCCX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources

Objective

The Fund seeks to provide a high total return primarily from a portfolio of fixed income and other debt securities denominated in foreign currencies.

Strategy/Investment process

  • Invests at least 80% in fixed income and other debt securities denominated in foreign currencies.
  • May invest up to 20% in U.S. dollar-denominated securities primarily for cash management purposes and to satisfy asset coverage requirements for the Fund's derivative positions.
  • Not limited as to number of countries in which the Fund may invest.
  • Actively manages the Fund's exposure to currencies, interest rates and sectors.
Performance basics
  Annualized returns (as of 3/31/2014)
  1 Year 3 Year 5 Year Incept
at NAV -1.92% -0.94% 3.24% 2.30%
With 1.00% max. CDSC -2.92% -0.94% 3.24% 2.30%
Barclays Global Treasury Ex-U.S. 1-3 Year Index 0.91% -1.56% 2.31% 3.33%
Barclays Global Ex-USD Benchmark Currency (Trade-Weighted) Index 0.27% -0.26% 3.12% 1.87%
Lipper Alternative Currency Strategies Average -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.

Annual operating expenses (%)
Expense cap expiration date 02/28/2015
Expense cap 1.55%
Total annual operating expenses 1.73%
Fee waivers and/or expense reimbursements 0.15%
Net expenses 1.58%

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.

Ratings (as of 3/31/2014)
Morningstar overall rating: NYR
Morningstar category: Multicurrency
Minimum investments
Minimum investments Minimum subsequent investments
Regular $1000 Regular $25
IRA $1000 IRA $25
Daily stats (as of 4/22/2014)
NAV YTD
$10.75 -0.19%
$0.01 | -0.09%  
 
NAV as of:
  • Thu
    Mar 13
    2014
    $10.69
     
  • Fri
    Mar 14
    2014
    $10.70
     
  • Mon
    Mar 17
    2014
    $10.72
     
  • Tue
    Mar 18
    2014
    $10.71
     
  • Wed
    Mar 19
    2014
    $10.66
     
  • Thu
    Mar 20
    2014
    $10.64
     
  • Fri
    Mar 21
    2014
    $10.66
     
  • Mon
    Mar 24
    2014
    $10.68
     
  • Tue
    Mar 25
    2014
    $10.69
     
  • Wed
    Mar 26
    2014
    $10.70
     
  • Thu
    Mar 27
    2014
    $10.71
     
  • Fri
    Mar 28
    2014
    $10.72
     
  • Mon
    Mar 31
    2014
    $10.72
     
  • Tue
    Apr 01
    2014
    $10.73
     
  • Wed
    Apr 02
    2014
    $10.71
     
  • Thu
    Apr 03
    2014
    $10.69
     
  • Fri
    Apr 04
    2014
    $10.73
     
  • Mon
    Apr 07
    2014
    $10.74
     
  • Tue
    Apr 08
    2014
    $10.79
     
  • Wed
    Apr 09
    2014
    $10.82
     
  • Thu
    Apr 10
    2014
    $10.81
     
  • Fri
    Apr 11
    2014
    $10.79
     
  • Mon
    Apr 14
    2014
    $10.78
     
  • Tue
    Apr 15
    2014
    $10.76
     
  • Wed
    Apr 16
    2014
    $10.77
     
  • Thu
    Apr 17
    2014
    $10.77
     
  • Mon
    Apr 21
    2014
    $10.76
     
  • Tue
    Apr 22
    2014
    $10.75
     
 
52 Week High $11.09
(5/08/2013)
52 Week Low $10.56
(2/03/2014)
YTD Total Return w/Load -1.19%
Net Asset Class $901,486.06
Net Asset Fund $170,633,827.35
Yields
  3/31/2014
30-Day SEC Yield 0.48%
30-Day SEC Yield (Unsubsidized) 0.18%
Basics
Ticker JNCCX
CUSIP 4812A3320
Share Class Inception Date 03/30/2007
Fund Number 3829
Asset Class Taxable Fixed Income
Cut-off time1 4:00 P.M.

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.

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

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.

©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.