Fund Description
Investment Objective
During the Guarantee Period of February 16, 2005 through February 16, 2010, the Fund seeks to participate in favorable equity market conditions while preserving at least the principal amount of the Fund as of the inception of the Guarantee Period. During the Index Plus LargeCap Period, which will commence immediately following the Guarantee Period, the Fund will seek to outperform the total return performance of the S&P 500 Index, while maintaining a risk profile consistent with the Index. At the end of the Guarantee Period the guarantee will no longer apply.
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Investment Style
More Info
Management Team
Christine Hurtsellers
Portfolio Manager
Managed Fund since 2009
Michael Hyman
Portfolio Manager
Managed Fund since 2009
Paul Zemsky, CFA
Portfolio Manager
Managed Fund since 2009
Vincent Costa, CFA
Co-Portfolio Manager
Managed Fund since 2007
View Detailed Information
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Most Recent Month-End
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Most Recent Quarter-End
| As of 12/31/2009 |
YTD |
1 YR |
3 YR |
5 YR |
10 YR |
Inception
(02/2005) |
Gross
Exp. |
Net
Exp.1 |
| Net Asset Value |
-0.05 |
-0.05 |
-0.09 |
— |
— |
+1.14 |
1.87% |
1.75% |
| With Sales Charge |
-5.78 |
-5.78 |
-2.03 |
— |
— |
-0.08 |
|
|
| As of 12/31/2009 |
YTD |
1 YR |
3 YR |
5 YR |
10 YR |
Inception
(02/2005) |
Gross
Exp. |
Net
Exp.1 |
| Net Asset Value |
-0.05 |
-0.05 |
-0.09 |
— |
— |
+1.14 |
1.87% |
1.75% |
| With Sales Charge |
-5.78 |
-5.78 |
-2.03 |
— |
— |
-0.08 |
|
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View Detailed Performance
Current Maximum Sales Charge: 5.75%
1 The Adviser has contractually agreed to limit expenses of the Fund. This expense limitation agreement excludes interest, taxes, brokerage, and extraordinary expenses and is subject to possible recoupment. Please see the Fund's prospectus for more information. The expense limits will continue through at least February 16, 2010. The Fund is reimbursing the Adviser for amounts that have been waived during the previous 36 months.
Performance information is calculated for the period beginning on the first day of the Fund’s Guarantee Period which is the date the Fund commenced investment operations in accordance with its investment objectives.
Past performance is no guarantee of future results. The performance quoted represents past performance. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
SEC fund returns assume the reinvestment of dividends and capital gain distributions and include a sales charge. Net Asset Value fund returns assume the reinvestment of dividends and capital gain distributions. Total return for less than one year is not annualized. Results would have been less favorable if the sales charge were included.
It is important to note that the Fund has a limited operating history. Performance over a longer period of time may be more meaningful than short-term performance.
Principal Risks
During the Guarantee Period, there are substantial opportunity costs. Use of the Fixed Component reduces the Fund’s ability to participate as fully in upward equity market movements, and therefore represents some loss of opportunity, or opportunity cost, compared to a portfolio that is fully invested in equities. The Fund may allocate a substantial portion, and under certain circumstances all, of the Fund’s assets to the Fixed Component in order to conserve Fund assets to a level equal to or above the present value of the Guarantee. In the event of an allocation of 100% of the assets to the Fixed Component, the Fund would not reallocate any assets into the Equity Component prior to the Maturity Date. As with any investment in stocks and bonds, the Fund is subject to market risks. Because the Fund generally invests in both stocks and bonds, the Fund may underperform stock funds when stocks are in favor and underperform bond funds when bonds are in favor.
Unless held in a tax-deferred retirement account, you must pay U.S. income tax yearly on the interest and dividends earned by the Fund’s portfolio investments, including imputed interest from the Fund’s zero-coupon bond holdings as a component of net income distribution dividends as it accrues. This is true even if you reinvest your income distribution dividends. If you invest through a tax-deferred account, such as a retirement plan, you generally will not have to pay tax on these dividends until they are distributed from the account. These accounts are subject to complex tax rules, and you should consult your tax adviser.
These and other risks are described more fully in the Fund’s prospectus.