Fund Description
Overview
- Invests in the below-investment grade bond market, which generally provides higher monthly income than investment grade securities
- Selects investments based on extensive company and industry research, using relative value analysis to identify above-average return potential
Investment Objective
The Fund seeks to provide investors with a high level of current income and total return.
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Investment Style
More Info
Management Team
Randall Parrish, CFA
Portfolio Manager
Managed Fund since 2007
Daniel Doyle
Portfolio Manager
Managed Fund since 2009
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
(12/1998) |
Gross
Exp. |
Net
Exp.1 |
| Net Asset Value |
+45.93 |
+45.93 |
+2.52 |
+3.77 |
+4.82 |
+5.23 |
1.25% |
1.1% |
| With Sales Charge |
+42.32 |
+42.32 |
+1.65 |
+2.77 |
+4.32 |
+4.77 |
|
|
| As of 12/31/2009 |
YTD |
1 YR |
3 YR |
5 YR |
10 YR |
Inception
(12/1998) |
Gross
Exp. |
Net
Exp.1 |
| Net Asset Value |
+45.93 |
+45.93 |
+2.52 |
+3.77 |
+4.82 |
+5.23 |
1.25% |
1.1% |
| With Sales Charge |
+42.32 |
+42.32 |
+1.65 |
+2.77 |
+4.32 |
+4.77 |
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|
View Detailed Performance
Current Maximum Sales Charge: 2.50%
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 August 1, 2009. Expenses are being waived to the contractual cap.
Class A Share return calculations with a starting date prior to July 31, 2006 are based on a 4.75% sales charge while returns with a starting date after July 31, 2006 are based on a 2.50% sales charge.
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.
Principal Risks
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. High-Yield Securities, or “junk bonds”, are rated lower than investment-grade bonds because there is a greater possibility that the issuer may be unable to make interest and principal payments on those securities. The Fund may use Derivatives, such as options and futures, which can be illiquid, may disproportionately increase losses and have a potentially large impact on Fund performance. Foreign Investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. Risks of foreign investing are generally intensified in Emerging Markets. As Interest Rates rise, bond prices may fall, reducing the value of the Fund's share price. Debt Securities with longer durations tend to be more sensitive to interest rate changes. Other risks of the Fund include but are not limited to: Credit Risks; Other Investment Companies Risks; Price Volatility Risks; Inability to Sell Securities Risks; and Securities Lending Risks. Investors should consult the Fund's Prospectus and Statement of Additional Information for a more detailed discussion of the Fund's risks.