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Actively Managed, Pure Ginnie Mae Strategy. Ginnie Mae Fund is designed to provide a high level of current income and capital appreciation through an actively managed portfolio of government-backed mortgage securities and other fixed income investments.
Ginnie Mae seeks high current income while maintaining liquidity and safety of principal by investing primarily in GNMA certificates.
The fund invests primarily in Ginnie Mae certificates, which are mortgage-backed securities guaranteed by the full faith and credit of the U.S. government.
Ginnie Mae Fund is actively managed, seeking both income and capital appreciation. This approach is designed to generate yields that are competitive with funds that focus on income while seeking capital appreciation through active sector and security selections.
The industry veterans who manage the fund seek to generate the best return possible over a market cycle given the level of risk they take. They analyze risk on an ongoing basis and execute a comprehensive risk management strategy that seeks to lower volatility and turn risks into opportunities.
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. Investments in mortgage securities are subject to prepayment risks, which may result in greater share price volatility. Fund shares are not guaranteed by the U.S. government. 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.
Past performance is no guarantee of future results.
High current income while maintaining liquidity and safety of principal by investing primarily in GNMA certificates.
Invests in GNMA certificates, which are the highest yielding securities backed by the full faith and credit of the U.S. government for the timely payment of principal and interest.
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, Senior Portfolio Manager
Vice President, Senior Portfolio Manager
Vice President, Portfolio Manager
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.
Fund shares are not guaranteed by the U.S. Government.
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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The Dow Jones AveragesSM and The Dow Jones Global IndexesSM are compiled, calculated and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones AveragesSM and The Dow Jones Global IndexesSM ©2021 Dow Jones & Company, Inc. All Rights Reserved.
Source: Bloomberg Index Services Ltd
For detailed descriptions of indices or investing terms referenced above, refer to our glossary.