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Global Bond Fund

Summary

Summary

What is the Global Bond Fund?

The Fund seeks to deliver total return by investing in bonds across multiple sectors in developed and emerging markets located throughout the world.

Yield

Dividend Yield 1 as of 02/20/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.55% 3.33%
w/ sales charge 3.47% 3.26%

30-Day Standardized Yield 2 as of 01/31/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.00% 1.67%

Expense Ratioas of 01/31/2019

Fund Basics

Total Net Assets
-
Inception Date
08/01/2018
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
-
CUSIP
543908388
Minimum Initial Investment
$1,000+

Investment Team

Andrew H. O'Brien
Andrew H. O'Brien, CFA

Partner & Portfolio Manager

21 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

25 Years of Industry Experience

Leah G. Traub
Leah G. Traub, Ph.D.

Partner & Portfolio Manager

18 Years of Industry Experience

Supported By 64 Investment Professionals with 15 Years Avg. Industry Experience

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Performance

Performance

Fund Expense Ratio :

Gross 1.00%

Net 0.78%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge 2.46% - - - - 1.01%
Lipper Category Avg. Global Income Funds 2.00% - - - - -
Bloomberg Barclays Global Aggregate Index 1.52% - - - - 1.96%
w/ sales charge 0.19% - - - - -1.26%

Fund Expense Ratio :

Gross 1.00%

Net 0.78%

Fund Expense Ratio :

Gross 1.00%

Net 0.78%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge - - - - - -1.42%
Lipper Category Avg. Global Income Funds - - - - - -
Bloomberg Barclays Global Aggregate Index - - - - - 0.43%
w/ sales charge - - - - - -3.63%

Fund Expense Ratio :

Gross 1.00%

Net 0.78%

Portfolio Positioning                                                                          as of 12/31/2018

  • The portfolio maintains a flexible, multi-sector approach with the ability to have exposure to more credit-sensitive sectors outside of the benchmark, the Bloomberg Barclays Global Aggregate Index. The portfolio seeks to deliver total return by investing in bonds across multiple sectors in developed and emerging markets located throughout the world. Primary sector allocations include investment grade and high yield corporate bonds, sovereign debt, mortgage-backed securities (MBS), and asset-backed securities (ABS).
  • During the fourth quarter, we increased the portfolio’s allocation to both non-U.S. and U.S. investment grade corporate bonds as spreads widened. We remain constructive on the fundamental and technical factors of this market segment and believe that the volatility experience in the fourth quarter resulted in idiosyncratic opportunities to capture relative value, particularly within “BBB” rated debt.
  • We also increased the portfolio’s allocation to emerging market sovereign debt. Emerging market sovereign bonds underperformed during the fourth quarter due to weaker emerging market growth and performance headwinds from Turkey and Saudi Arabia. Following the underperformance of emerging market sovereign bonds, we added to the portfolio’s positioning as we believe their valuations have improved and expect modest spread tightening in the upcoming months.
  • Within MBS, we traded a range with respect to spread to Treasuries. We trimmed a portion of the portfolio’s MBS exposure in October due to tighter spreads. In November, we added back to MBS as volatility and spread widening led to more attractive valuations.

NAV Historical Prices

Date Net Asset Value

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 02/20/2019

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $10.12
$100,000 to $249,999 1.75% 1.50% $10.07
$250,000 to $499,999 1.25% 1.00% $10.02
$500,000 to $999,999 0.00% 1.00% $9.89
$1,000,000 to $5,000,000 0.00% 1.00% $9.89

Expense Ratioas of 01/31/2019

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
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015

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