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2019 Tax Form 8937
Core by Design. Diversified Bond is designed as a true core bond fund, seeking to reduce overall portfolio volatility, provide diversification, and generate attractive returns.
Seeks a high level of income by investing in non-money market debt securities.
The team invests primarily in high-quality bonds from across the U.S. market, including government, corporate, mortgage, agency, and other bond sectors.
Team members seek to take risk only where they believe it will be rewarded as they pursue attractive returns with less volatility than their peer group.
The fund pursues relatively low correlations to equities and relatively high correlations to investment grade bonds to make it an attractive foundation for a diversified portfolio.
The value and/or returns of a portfolio will fluctuate with market and economic conditions. The fund's investments in fixed income securities are subject to the risks associated with debt securities including credit, price and interest rate risk. Generally, as interest rates rise, the value of the securities held in the fund will decline. The opposite is true when interest rates decline. There is no guarantee that the investment objectives will be met. Dividends and yields represent past performance and there is no guarantee that they will continue to be paid. Diversification does not assure a profit nor does it protect against loss of principal.
Total return primarily through investment-grade, intermediate-term bonds.
Employs comprehensive risk management designed to maximize return per level of risk. May serve as a primary core bond holding due to its broad bond market diversification and high-quality focus.
Average annual total returns illustrate the annual compounded returns that would have produced the cumulative total return if the fund's performance had remained constant throughout the period indicated. Returns for periods less than one year are not annualized.
For periods prior to the inception of a class, performance is for the oldest class, restated with applicable fees, if any.
Maturity: Describes the portfolio of the fund in terms of the different maturities of the securities it holds.
Weighted average life to maturity (WALM) is a measure of the sensitivity of a fixed income portfolio to interest rate changes. WALM is the average time in years to receive the principal repayments. Accordingly, WALM reflects how a portfolio would react to deteriorating credit or tightening liquidity conditions.
Senior Vice President and Co-Chief Investment Officer — Global Fixed Income
Senior Vice President, Senior Portfolio Manager
Vice President, Senior Portfolio Manager
Vice President, Portfolio Manager
The advisor has agreed to waive the G Class's management fee in its entirety. The advisor expects this waiver to remain in effect permanently and cannot terminate it without the approval of the Board of Trustees.
The value and/or returns of a portfolio will fluctuate with market and economic conditions.
Investments in fixed income securities are subject to the risks associated with debt securities including credit, price and interest rate risk.
Generally, as interest rates rise, the value of the securities held in the fund will decline. The opposite is true when interest rates decline.
Please see the prospectus for details about sales charges.
The gross expense ratio is the fund's total annual operating costs, expressed as a percentage of the fund's average net assets for a given time period. It is gross of any fee waivers or expense reimbursement. The net expense ratio is the expense ratio after the application of any waivers or reimbursement. This is the actual ratio that investors paid during the fund's most recent fiscal year. Please see the prospectus for more information.
Only Investor Class shares are made available to investors directly. Advisor, A, C, I, and Y Classes of shares are only available for purchase by institutions or other financial intermediaries. R, R5, and R6 Classes of shares are only available for purchase by group employer-sponsored retirement plans. Review definitions and minimums for all share classes.
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Source: Bloomberg Index Services Ltd
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