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Treasury & Agency Fund - Select (OGTFX)

Treasury & Agency Fund - Select (OGTFX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources

Objective

The Fund seeks a high level of current income by investing in U.S. Treasury and other U.S. agency obligations with a primary, but not exclusive, focus on issues that produce income exempt from state income taxes.

Strategy/Investment process

  • Invests primarily in U.S. Treasury and U.S. agency obligations, including fixed income securities, mortgage backed and mortgage-related securities, and inflation-linked securities, including fixed and floating rate debt securities of varying maturities issued by the U.S. government, its agencies and instrumentalities.
  • Generally maintains an average weighted maturity between two and five years.
  • Seeks individual securities that it believes will perform well over market cycles.
Performance basics
  Annualized returns (as of 3/31/2014)
  1 Year 3 Year 5 Year 10 Year
at NAV -0.44% 0.71% 1.19% 2.49%
Barclays 1-5 Year U.S. Treasury Index -0.06% 1.44% 1.64% 2.97%
Barclays 1-3 Year U.S. Treasury Index 0.38% 0.82% 1.11% 2.48%
Lipper Short U.S. Treasury Funds Average -0.68% 0.62% 0.59% 1.94%

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 0.45%
Total annual operating expenses 0.70%
Fee waivers and/or expense reimbursements 0.25%
Net expenses 0.45%

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: (135 funds)
Morningstar category: Short Government

Overall rating Select Shares; Short Government Category; 135 funds. Three year rating 3 stars; 135 funds. Five year rating 3 stars; 125 funds. Ten year rating 3 stars; 114 funds.

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 ranking information is provided by Lipper Analytical Services. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respective Lipper category. Different share classes may have different rankings.

Minimum investments
Minimum investments Minimum subsequent investments
Regular $1M Regular No Minimum.
IRA $1M IRA No Minimum.
Daily stats (as of 4/22/2014)
NAV YTD
$9.45 0.09%
$0.01 | -0.11%  
 
NAV as of:
  • Thu
    Mar 13
    2014
    $9.48
     
  • Fri
    Mar 14
    2014
    $9.48
     
  • Mon
    Mar 17
    2014
    $9.47
     
  • Tue
    Mar 18
    2014
    $9.46
     
  • Wed
    Mar 19
    2014
    $9.44
     
  • Thu
    Mar 20
    2014
    $9.44
     
  • Fri
    Mar 21
    2014
    $9.44
     
  • Mon
    Mar 24
    2014
    $9.43
     
  • Tue
    Mar 25
    2014
    $9.44
     
  • Wed
    Mar 26
    2014
    $9.44
     
  • Thu
    Mar 27
    2014
    $9.44
     
  • Fri
    Mar 28
    2014
    $9.44
     
  • Mon
    Mar 31
    2014
    $9.44
     
  • Tue
    Apr 01
    2014
    $9.44
     
  • Wed
    Apr 02
    2014
    $9.43
     
  • Thu
    Apr 03
    2014
    $9.43
     
  • Fri
    Apr 04
    2014
    $9.45
     
  • Mon
    Apr 07
    2014
    $9.45
     
  • Tue
    Apr 08
    2014
    $9.45
     
  • Wed
    Apr 09
    2014
    $9.46
     
  • Thu
    Apr 10
    2014
    $9.47
     
  • Fri
    Apr 11
    2014
    $9.47
     
  • Mon
    Apr 14
    2014
    $9.47
     
  • Tue
    Apr 15
    2014
    $9.47
     
  • Wed
    Apr 16
    2014
    $9.47
     
  • Thu
    Apr 17
    2014
    $9.46
     
  • Mon
    Apr 21
    2014
    $9.46
     
  • Tue
    Apr 22
    2014
    $9.45
     
 
52 Week High $9.63
(4/24/2013)
52 Week Low $9.43
(3/24/2014)
Net Asset Class $119,856,274.40
Net Asset Fund $161,138,634.40
Yields
  3/31/2014
30-Day SEC Yield 0.48%
30-Day SEC Yield (Unsubsidized) 0.17%
Dividend Yield 1.38%

Must be preceded or accompanied by a prospectus

Basics
Ticker OGTFX
CUSIP 4812C1405
Share Class Inception Date 01/20/1997
Fund Number 3565
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 treasury and agency obligations.

The Fund primarily invests in U.S. Treasury and U.S. agency obligations including fixed income securities, mortgage-backed and mortgage-related securities, and inflation-linked securities, including fixed and floating rate debt securities of varying maturities issued by the U.S. government, its agencies and instrumentalities. The Fund also may invest in government mortgage-backed securities and government adjustable rat mortgage loans known as ARMs.

The Fund anticipates a very high degree of portfolio turnover. This will likely result in additional tax consequences.

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

The Barclays 1-5 Year U.S. Treasury Index is an unmanaged index comprised of U.S. Treasury issued securities with maturities of one to five 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 1-3 Year U.S. Treasury Index is an unmanaged index comprised of U.S. Treasury issued securities with 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 performance of the Lipper Short U.S. Treasury 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.

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.