Short Duration Strategic Income Fund

Summary

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FUND FACTS

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Expenses and Dividends

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Morningstar

Morningstar Rating™:
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange‐traded funds, closed‐end funds, and separate accounts) with at least a three‐year history. Exchange‐traded funds and open‐ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk‐Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three‐, five‐, and 10‐year (if applicable) Morningstar Rating metrics. The weights are: 100% three‐year rating for 36‐59 months of total returns, 60% five‐year rating/40% three‐year rating for 60‐119 months of total returns, and 50% 10‐year rating/30% five‐year rating/20% three‐ year rating for 120 or more months of total returns. While the 10‐year overall star rating formula seems to give the most weight to the 10‐year period, the most recent three‐year period actually has the greatest impact because it is included in all three rating periods.
Morningstar Investment Style Box™:
The Morningstar Investment Style Box™ reveals a fund's investment strategy. For the equity holdings in the fund's portfolio, the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend or growth).
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FUND DOCUMENTS & RESOURCES

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More Information


      2017 Tax Form 8937 
 

Short Duration. Tactical Sector Management. The Short Duration Strategic Income Fund seeks to complement an investor's core bond holdings with high current income, broad diversification and the potential to mitigate the impact of rising rates.

Investment Objective

Seeks income. As a secondary objective, the fund seeks long-term capital appreciation.

Risk & Additional Details

Goal & Strategy

Current income through investments in income-producing securities.

Characteristics

Employs tactical sector management. May complement an investor's core bond holdings with current income an broad diversification. The fund's short duration approach offers the potential to mitigate the impact of rising rates.

Performance

  • ANNUALIZED
  • 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.

    Annualized

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  • CALENDAR YEAR
  • Calendar Year

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  • YIELDS
  • Yields

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  • RISK/RETURNS
  • Risk/Returns

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    Composition

    • INVESTMENT BLEND
    • Investment Blend

    • TOP TEN HOLDINGS
    • Top Ten Holdings

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    • QUALITY
    • Quality

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    • MATURITY
    • Maturity

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    • COUPON
    • Coupon

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    • DURATION
    • Duration

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      Geography

        Management

        Charles Tan

        Charles Tan

        Senior Vice President and Co-Chief Investment Officer — Global Fixed Income

        Robert Gahagan

        Robert Gahagan

        Senior Vice President, Senior Portfolio Manager

        Jeff Houston, CFA

        Jeff Houston, CFA

        Vice President, Senior Portfolio Manager

        Jason Greenblath

        Jason Greenblath

        Vice President, Senior Portfolio Manager

        Peter Van Gelderen

        Peter Van Gelderen

        Vice President, Senior Portfolio Manager

        The management fee has been restated to reflect the decrease in the management fee schedule effective August 1, 2020. Returns or yields for the fund would have been lower if a portion of the management fee had not been waived. Review the annual or semiannual report for the most current information.

        Diversification does not assure a profit nor does it protect against loss of principal.

        Generally, as interest rates rise, the value of the securities held in the fund will decline. The opposite is true when interest rates decline.

        B

        Please see the prospectus for details about sales charges.

        C

        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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        Sources: Bloomberg Index Services Ltd, FactSet

        For detailed descriptions of indices or investing terms referenced above, refer to our glossary.