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Affiliated Fund

Summary

Summary

What is the Affiliated Fund?

The Fund seeks to deliver long-term growth of capital and current income by investing primarily in dividend-paying stocks of large U.S. companies.

DIVIDEND PAYERS

True to its mandate, the Affiliated Fund is focused on companies that pay dividends.

VALUE FOCUSED

We believe a professionally-managed approach can identify companies with sustainable dividend policies whose stocks are attractively valued. 

GROWTH & INCOME

A portfolio of undervalued dividend-paying stocks may provide investors with long-term growth of capital and current income. 

Fund Basicsas of 04/30/2019

Total Net Assets
$6.36 B
Inception Date
11/24/1997
Dividend Frequency
Quarterly
Fund Expense Ratio
0.91%
Number of Holdings
123

Yield

12-Month Dividend Yield 1 as of 05/17/2019  

w/o sales charge 2.09%

30-Day Standardized Yield 2 as of 04/30/2019  

1.91%

Fund Expense Ratio :

0.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 11/24/1997
w/o sales charge 14.32% 8.09% 11.60% 8.44% 12.22% 6.68%
Lipper Category Avg. Equity Income Funds 14.45% 8.48% 10.45% 7.70% 12.60% -
Russell 1000® Value Index 15.90% 9.06% 10.97% 8.27% 13.76% 7.39%

Fund Expense Ratio :

0.91%

Fund Expense Ratio :

0.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 11/24/1997
w/o sales charge 10.50% 4.61% 10.73% 7.85% 13.13% 6.53%
Lipper Category Avg. Equity Income Funds 10.95% 5.61% 9.64% 7.23% 13.17% -
Russell 1000® Value Index 11.93% 5.67% 10.45% 7.72% 14.52% 7.24%

Fund Expense Ratio :

0.91%

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TEN LARGEST HOLDINGS as of 04/30/2019View Portfolio

Holding Assets
Chevron Corp. 2.8%
Bank of America Corp. 2.2%
Procter & Gamble Co. 2.2%
JPMorgan Chase & Co. 2.1%
Merck & Co., Inc. 2.1%
Intel Corp. 2.1%
Pfizer, Inc. 2.1%
Cisco Systems, Inc. 2.0%
Verizon Communications, Inc. 1.7%
Broadcom Inc 1.6%
% of Total Assets 20.9%

INVESTMENT TEAM

Walter H. Prahl
Walter H. Prahl, Ph.D.

Partner & Director

34 Years of Industry Experience

pavese
Marc Pavese, Ph.D.

Partner & Portfolio Manager

19 Years of Industry Experience

Supported By 38 Investment Professionals with 18 Years Avg. Industry Experience

Your Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

12-Month Dividend Yield 1 as of 05/17/2019  

w/o sales charge 2.09%

30-Day Standardized Yield 2 as of 04/30/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.91% 1.91%

Fund Expense Ratio :

0.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 11/24/1997
w/o sales charge 14.32% 8.09% 11.60% 8.44% 12.22% 6.68%
Lipper Category Avg. Equity Income Funds 14.45% 8.48% 10.45% 7.70% 12.60% -
Russell 1000® Value Index 15.90% 9.06% 10.97% 8.27% 13.76% 7.39%

Fund Expense Ratio :

0.91%

Fund Expense Ratio :

0.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 11/24/1997
w/o sales charge 10.50% 4.61% 10.73% 7.85% 13.13% 6.53%
Lipper Category Avg. Equity Income Funds 10.95% 5.61% 9.64% 7.23% 13.17% -
Russell 1000® Value Index 11.93% 5.67% 10.45% 7.72% 14.52% 7.24%

Fund Expense Ratio :

0.91%

Year Fund Returns Russell 1000® Value Index
2018 -7.59% -8.27%
2017 16.06% 13.66%
2016 17.36% 17.34%
2015 -4.16% -3.83%
2014 11.99% 13.45%
2013 32.26% 32.53%
2012 15.81% 17.51%
2011 -7.90% 0.39%
2010 14.31% 15.51%
2009 19.11% 19.69%
2008 -37.15% -
2007 3.56% -
2006 17.44% -
2005 3.23% -
2004 12.51% -
2003 30.69% -
2002 -18.81% -
2001 -8.03% -
2000 15.15% -
1999 16.75% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 10.50% - - - 11.80%
2018 -2.39% 0.48% 6.49% -11.52% -7.59%
2017 4.10% 2.00% 3.05% 6.07% 16.06%
2016 2.45% 3.16% 3.78% 7.00% 17.36%
2015 0.41% -1.23% -7.58% 4.57% -4.16%
2014 2.29% 3.92% -0.06% 5.42% 11.99%
2013 10.98% 3.78% 4.52% 9.86% 32.26%
2012 12.63% -4.78% 6.60% 1.30% 15.81%
2011 5.56% -2.71% -20.77% 13.19% -7.90%
2010 6.78% -14.42% 10.34% 13.36% 14.31%
2009 -16.46% 18.62% 16.25% 3.39% 19.11%
2008 -9.65% -6.18% -6.68% -20.55% -37.15%
2007 0.35% 5.09% 1.88% -3.61% 3.56%
2006 5.87% -0.56% 5.90% 5.34% 17.44%
2005 -2.62% -0.51% 4.19% 2.27% 3.23%
2004 2.46% 1.08% -1.95% 10.80% 12.51%
2003 -5.48% 18.25% 2.88% 13.65% 30.69%
2002 3.20% -11.05% -19.70% 10.14% -18.81%
2001 -9.49% 5.32% -14.01% 12.20% -8.03%
2000 1.58% -3.23% 8.67% 7.79% 15.15%
1999 2.63% 10.78% -6.65% 10.01% 16.75%
1998 10.73% -0.32% -11.74% 17.02% 14.01%
1997 - - - - 1.42%

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioningas of 03/31/2019

  • Broadcom Ltd., a digital semiconductor connectivity solutions provider, is the Fund's largest overweight position relative to its benchmark, the Russell 1000® Value Index, as of March 31, 2019. We believe Broadcom’s broad based strength in its semiconductor business and diverse product portfolio may result in an attractive return profile.
  • Union Pacific Corp., a rail transportation company, is another of the Fund's overweight positions relative to its benchmark. We believe that Union Pacific is attractive because of its diversified revenue mix, significant potential opportunities for margin growth, and strong free cash flow.
  • The Fund also is overweight in Chevron Corp., an energy company, relative to the benchmark. We have high conviction in Chevron because of its focus on responsible capital spending, shareholder-friendly payout policies, and historically solid execution on growth projects.

PORTFOLIO DETAILS as of 04/30/2019

Total Net Assets
$6.36 B
Number of Holdings
123
Weighted Average Market Cap.
116.8 B
P/B Ratio
2.3x
Portfolio Turnover Ratio as of 10/31/2018
61.6%
P/E Ratio
16.6x

Contributors & Detractors as of  03/29/2019

Contributors

Holding Contribution
Cisco Systems, Inc. 0.5%
Chevron Corp. 0.4%
Intel Corp. 0.4%
Avago Technologies Ltd. 0.3%
Xerox Corp. 0.3%

Detractors

Holding Contribution
CME Group, Inc. -0.2%
Kraft Heinz Co. -0.2%
CVS Caremark Corp. -0.1%
Alaska Air Group, Inc. -0.1%
Newell Rubbermaid, Inc. -0.1%

Attribution Analysis 

Affiliated Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 05/17/2019
$0.080
Dividend Frequency
Quarterly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
03/28/2019 03/29/2019 03/29/2019 $0.08050 $14.45

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date Reinvest & Payable Date
06/27/2019 06/28/2019 06/28/2019
09/26/2019 09/27/2019 09/27/2019
12/26/2019 12/27/2019 12/27/2019

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
11/19/2018 11/20/2018 $0.8245 $0.3982 $1.2227 $14.16

Upcoming Capital Gain Distribution

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date
11/20/2019 11/21/2019

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 04/30/2019

0.91%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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Prospectus (XBRL)
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Flyer
Publish Date:11/03/2015

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Class P - Performance is shown at net asset value (NAV). Class P shares are not subject to front-end or back-end sales charges.

Class P shares are only available on a limited basis through certain financial intermediaries and retirement and benefit plans. For additional information, see the Fund’s current prospectus.

The Russell 1000® Value Index measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values.

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