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Ultra Short Bond Fund

Summary

Summary

What is the Ultra Short Bond Fund ?

The Fund seeks to deliver current income consistent with the preservation of capital by investing in a broad range of investment grade ultra-short fixed income and money market securities with a weighted average duration of less than one year.

Yield

7 Day Yield 1,4 as of 11/13/2019  

  Subsidized3 Un-Subsidized3
w/o sales charge 2.26% 2.19%

30-Day Standardized Yield 2 as of 10/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.24% 2.17%

Fund Basicsas of 09/30/2019

Total Net Assets
$18.93 B
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.29%
Fund Net Expense Ratio
0.22%
Number of Holdings
644

Fund Expense Ratio :

Gross 0.29%

Net 0.22%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge 2.65% 2.90% 2.18% - - 2.17%
Lipper Category Avg. Ultra-Short Obligations Funds 2.60% 2.76% 1.88% - - -
ICE BofAML U.S. Treasury Bill Index 2.08% 2.48% 1.60% - - -

Fund Expense Ratio :

Gross 0.29%

Net 0.22%

Fund Expense Ratio :

Gross 0.29%

Net 0.22%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/17/2016
w/o sales charge 2.45% 2.91% - - - 2.17%
Lipper Category Avg. Ultra-Short Obligations Funds 2.44% 2.74% - - - -
ICE BofAML U.S. Treasury Bill Index 1.86% 2.45% - - - -

Fund Expense Ratio :

Gross 0.29%

Net 0.22%

RELATED CONTENT

Volatility Worries? Consider This Diversified Approach to Income
November 26, 2018

A strategic combination of ultra-short and short-term fixed-income securities, along with bank loans, may be an attractive option for income and total return amid market turmoil.

Type Assets
Corp Floating
Commercial Paper
ABS
Corp Fixed Rate
U.S. Government Related
Cash
Maturity Assets
Less than 1 year
1-2.99 years

Credit Quality Distribution as of 09/30/2019 View Portfolio

Rating Assets
A-1/P-1
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB

INVESTMENT TEAM

Yoana N. Koleva
Yoana N. Koleva, CFA

Managing Director & Portfolio Manager

16 Years of Industry Experience

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

Partner & Portfolio Manager

21 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

25 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Managing Director, Portfolio Manager

11 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Supported By 64 Investment Professionals with 16 Years Avg. Industry Experience

Your Representative

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Performance

Performance

NAV HISTORICAL PRICES

Date Net Asset Value
Year Fund Returns ICE BofAML U.S. Treasury Bill Index
2018 2.11% 1.88%
2017 1.63% 0.82%
2016 0.20% 0.37%
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 1.00% 0.79% 0.64% - 2.74%
2018 0.37% 0.68% 0.61% 0.44% 2.11%
2017 0.41% 0.44% 0.37% 0.40% 1.63%
2016 - - - - 0.20%

Portfolio

Portfolio

Type Assets
Corp Floating
Commercial Paper
ABS
Corp Fixed Rate
U.S. Government Related
Cash
Maturity Assets
Less than 1 year
1-2.99 years

CREDIT QUALITY DISTRIBUTION as of 09/30/2019

Rating Assets
A-1/P-1
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB

Portfolio Positioning

 

Portfolio Details as of 09/30/2019

Total Net Assets
$18.93 B
Number of Issues
644
Average Coupon
2.06%
Average Life
0.89 Years
Average Effective Duration
0.22 Years

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

For
YTD Dividends Paidas of 11/13/2019
$0.222
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 10/31/2019 $0.01982 $10.03
Daily Daily 09/30/2019 $0.02054 $10.03
Daily Daily 08/31/2019 $0.02128 $10.03
Daily Daily 07/31/2019 $0.02220 $10.03
Daily Daily 06/30/2019 $0.02242 $10.03
Daily Daily 05/31/2019 $0.02337 $10.02
Daily Daily 04/30/2019 $0.02307 $10.02
Daily Daily 03/31/2019 $0.02397 $10.02
Daily Daily 02/28/2019 $0.02226 $10.01
Daily Daily 01/31/2019 $0.02365 $10.00

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
Daily Daily 11/30/2019
Daily Daily 12/31/2019

CAPITAL GAINS DISTRIBUTIONS

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/14/2017 12/15/2017 - $0.0003 $0.0003 $10.01

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
12/17/2019 12/18/2019

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 10/31/2019

Fund Gross Expense Ratio Fund Net Expense Ratio
0.29% 0.22%

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

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Class F3 - The inception date for Class F3 shares is April 4, 2017. The performance quotations for Class F3 are based on the following methods of calculation: (a) for periods prior to June 30, 2015,  a figure is used based on the historical performance of the Fund’s Class I Shares, since inception, restated to reflect all charges and fees applicable to Class F3 shares; (b) for periods prior to April 4, 2017 but after June 30, 2015, performance is based on the historical performance of the Fund’s Class R6 shares, which have an equivalent expense ratio to the Fund’s F3 shares; and (c) for periods after April 4, 2017, actual Class F3 performance is used, which reflects all charges and fees applicable to Class F3 shares.

Class F3 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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