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OPECX

Capital Income Fund

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Overview

The Strategy typically invests in stocks, bonds, and other uncorrelated financial instruments for additional diversification.

Inception Date
November 1, 1995
Investment Style
Income-Oriented Balanced
Fund Index
65% BBG Barc US Agg/35% Russell 3000®
CUSIP
683793301
NAV
  • A
(as of 11/16/2018)
$9.69
Total Assets
(as of 10/31/2018)
$2.43 BN
Gross Expense Ratio
(as of 10/31/2018)
1.82%
Net Expense Ratio
(as of 10/31/2018)
1.77%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 10/31/2018
  • B
as of 09/30/2018
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Capital Income Fund (NAV)
1.21% 2.81% 4.60% 4.07% 3.52% 4.85%
65% BBG Barc US Agg/35% Russell 3000®
2.69% 5.20% 6.78% 6.21% 7.13% -
Cumulative
Annualized
ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Capital Income Fund (with sales charge)
0.21% 1.81% 4.60% 4.07% 3.52% 4.85%
65% BBG Barc US Agg/35% Russell 3000®
2.69% 5.20% 6.78% 6.21% 7.13% -
Cumulative
Annualized
ytd as of 2018-10-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Capital Income Fund (NAV)
-1.14% 0.22% 3.08% 3.22% 5.00% 4.73%
65% BBG Barc US Agg/35% Russell 3000®
-0.48% 1.14% 4.72% 5.12% 7.62% -
Cumulative
Annualized
ytd as of 2018-10-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Capital Income Fund (with sales charge)
-2.11% -0.77% 3.08% 3.22% 5.00% 4.73%
65% BBG Barc US Agg/35% Russell 3000®
-0.48% 1.14% 4.72% 5.12% 7.62% -
Gross Expense Ratio: 1.82% | Net Expense Ratio: 1.77%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated.  Class C shares are subject to a 0.75% annual asset-backed sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Year Capital Income Fund 65% BBG Barc US Agg/35% Russell 3000®
1996 18.92% 9.81%
1997 28.74% 17.18%
1998 9.43% 14.59%
1999 -7.03% 6.51%
2000 15.99% 4.86%
2001 -1.00% 1.58%
2002 -16.79% -1.47%
2003 32.38% 13.29%
2004 9.36% 7.12%
2005 1.67% 3.85%
2006 14.09% 8.32%
2007 -2.61% 6.70%
2008 -37.52% -10.32%
2009 16.99% 14.42%
2010 10.70% 10.59%
2011 3.29% 6.26%
2012 10.24% 8.59%
2013 8.19% 9.38%
2014 3.97% 8.43%
2015 -1.52% 0.85%
2016 6.46% 6.34%
2017 6.18% 9.48%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated.  Class C shares are subject to a 0.75% annual asset-backed sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Date Capital Income Fund 65% Bloomberg Barclays Agg/35% Russell 3000 BBG Barclays Agg S&P 500
10/31/2008 0.00 0.00 0.00 0.00
11/30/2008 -13.91 -0.35 3.25 -7.18
12/31/2008 -10.75 3.01 7.11 -6.19
1/31/2009 -14.36 -0.52 6.16 -14.09
2/28/2009 -21.32 -4.41 5.76 -23.24
3/31/2009 -17.44 -0.43 7.23 -16.52
4/30/2009 -12.49 3.56 7.74 -8.53
5/31/2009 -9.14 6.04 8.53 -3.41
6/30/2009 -7.94 6.61 9.14 -3.22
7/31/2009 -4.33 10.65 10.90 4.10
8/31/2009 -1.92 12.81 12.05 7.86
9/30/2009 0.63 15.26 13.23 11.88
10/31/2009 0.89 14.64 13.79 9.80
11/30/2009 3.17 17.89 15.26 16.39
12/31/2009 4.42 17.87 13.46 18.64
1/31/2010 4.01 17.54 15.19 14.37
2/28/2010 4.82 19.25 15.62 17.91
3/31/2010 8.01 21.74 15.48 25.03
4/30/2010 8.95 23.52 16.68 27.00
5/31/2010 6.12 20.81 17.66 16.86
6/30/2010 4.83 19.63 19.51 10.74
7/31/2010 8.08 23.38 20.79 18.50
8/31/2010 8.08 22.39 22.34 13.15
9/30/2010 11.38 26.44 22.47 23.25
10/31/2010 13.43 28.47 22.91 27.94
11/30/2010 13.43 28.27 22.20 27.96
12/31/2010 15.58 30.35 20.88 36.51
1/31/2011 17.25 31.46 21.02 39.75
2/28/2011 19.33 33.36 21.32 44.53
3/31/2011 20.10 33.66 21.39 44.59
4/30/2011 22.47 36.17 22.93 48.87
5/31/2011 22.75 36.79 24.54 47.19
6/30/2011 21.41 35.72 24.17 44.73
7/31/2011 21.41 36.04 26.14 41.79
8/31/2011 18.89 34.76 27.99 34.09
9/30/2011 16.12 31.77 28.92 24.66
10/31/2011 19.79 37.15 29.06 38.29
11/30/2011 18.52 37.08 28.94 37.98
12/31/2011 19.39 38.52 30.36 39.39
1/31/2012 21.98 41.74 31.51 45.64
2/29/2012 23.84 43.81 31.48 51.94
3/31/2012 24.78 44.85 30.75 56.94
4/30/2012 25.36 45.59 32.20 55.95
5/31/2012 24.92 43.25 33.40 46.58
6/30/2012 26.43 45.30 33.45 52.62
7/31/2012 28.61 47.14 35.29 54.74
8/31/2012 29.48 48.49 35.38 58.22
9/30/2012 31.13 50.00 35.57 62.31
10/31/2012 30.99 49.30 35.83 59.32
11/30/2012 31.28 49.90 36.05 60.24
12/31/2012 31.61 50.42 35.86 61.70
1/31/2013 33.83 52.58 34.91 70.08
2/28/2013 34.43 53.81 35.58 72.38
3/31/2013 35.85 55.98 35.69 78.85
4/30/2013 37.64 57.94 37.06 82.30
5/31/2013 37.19 57.41 34.62 86.56
6/30/2013 35.04 55.14 32.54 84.05
7/31/2013 36.69 58.22 32.72 93.42
8/31/2013 35.19 56.16 32.04 87.82
9/30/2013 36.63 59.16 33.29 93.71
10/31/2013 39.03 62.36 34.37 102.61
11/30/2013 40.54 63.62 33.86 108.79
12/31/2013 42.39 64.52 33.11 114.07
1/31/2014 42.09 64.28 35.07 106.67
2/28/2014 44.83 67.57 35.79 116.13
3/31/2014 45.24 67.72 35.56 117.94
4/30/2014 45.85 68.75 36.70 119.55
5/31/2014 47.69 71.30 38.26 124.71
6/30/2014 48.68 72.85 38.33 129.35
7/31/2014 47.30 71.40 37.98 126.19
8/31/2014 49.60 75.14 39.51 135.23
9/30/2014 47.53 73.10 38.56 131.94
10/31/2014 48.14 75.94 39.92 137.60
11/30/2014 48.76 78.24 40.92 143.99
12/31/2014 48.05 78.40 41.05 143.38
1/31/2015 48.67 79.11 44.00 136.07
2/28/2015 50.54 81.57 42.65 149.64
3/31/2015 50.48 81.50 43.31 145.69
4/30/2015 50.48 81.38 42.80 148.05
5/31/2015 50.80 81.99 42.45 151.24
6/30/2015 48.82 79.67 40.90 146.37
7/31/2015 50.08 81.57 41.88 151.53
8/31/2015 46.78 77.61 41.68 136.36
9/30/2015 45.73 76.65 42.64 130.51
10/31/2015 48.73 81.48 42.66 149.95
11/30/2015 47.79 81.54 42.28 150.70
12/31/2015 45.79 79.91 41.82 146.74
1/31/2016 44.20 77.96 43.77 134.50
2/29/2016 44.20 78.83 44.79 134.18
3/31/2016 47.48 84.27 46.12 150.07
4/30/2016 48.77 85.16 46.68 151.04
5/31/2016 50.37 86.37 46.72 155.55
6/30/2016 51.89 88.76 49.36 156.21
7/31/2016 53.50 92.15 50.30 165.66
8/31/2016 53.34 92.19 50.13 166.03
9/30/2016 53.57 92.25 50.04 166.08
10/31/2016 52.92 89.85 48.89 161.23
11/30/2016 53.73 89.84 45.37 170.90
12/31/2016 55.21 91.32 45.58 176.25
1/31/2017 56.02 92.83 45.86 181.49
2/28/2017 58.96 96.17 46.84 192.67
3/31/2017 58.21 96.17 46.77 193.01
4/30/2017 59.20 97.90 47.90 196.02
5/31/2017 60.18 99.62 49.04 200.19
6/30/2017 60.05 100.13 48.89 202.06
7/31/2017 61.04 102.01 49.53 208.27
8/31/2017 61.20 103.35 50.87 209.22
9/30/2017 62.24 104.45 50.15 215.59
10/31/2017 62.57 106.08 50.24 222.96
11/30/2017 64.22 108.09 50.04 232.86
12/31/2017 64.80 109.44 50.73 236.56
1/31/2018 66.79 111.67 49.00 255.83
2/28/2018 63.47 107.73 47.58 242.72
3/31/2018 62.38 107.21 48.53 234.01
4/30/2018 61.88 106.54 47.43 235.29
5/31/2018 62.54 109.56 48.48 243.37
6/30/2018 62.24 109.89 48.30 245.48
7/31/2018 65.26 112.35 48.33 258.34
8/31/2018 66.43 115.85 49.29 270.01
9/30/2018 66.80 115.07 48.32 272.12
10/31/2018 62.93 108.44 47.15 246.68
Date Dividends
12/30/2008 0.0
12/30/2009 0.0234
3/22/2010 0.0274
6/28/2010 0.0444
9/27/2010 0.044
12/29/2010 0.1678
3/28/2011 0.045
6/27/2011 0.0435
9/26/2011 0.0434
12/21/2011 0.1411
3/26/2012 0.0451
6/25/2012 0.0443
9/24/2012 0.0442
12/10/2012 0.1526
3/25/2013 0.046
6/24/2013 0.0454
9/23/2013 0.0461
12/30/2013 0.1032
3/24/2014 0.0468
6/23/2014 0.0449
9/22/2014 0.0453
12/29/2014 0.1043
3/20/2015 0.0464
6/19/2015 0.0444
9/25/2015 0.0436
12/15/2015 0.0741
3/24/2016 0.0458
6/24/2016 0.0445
9/23/2016 0.044
12/13/2016 0.0616
3/24/2017 0.0444
6/23/2017 0.0426
9/22/2017 0.0431
12/12/2017 0.0647
3/23/2018 0.0439
6/22/2018 0.042
9/21/2018 0.0418

There is no guarantee of the payment of any dividend or other distributions at any level.

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated.  Class C shares are subject to a 0.75% annual asset-backed sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 11/17/2018

Date 2013 2014 2015 2016 2017
Short Term
Long Term
Total Amount of Distribution
Record Date
Ex Div Date
Pay Date

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Issuers

(11.5% of assets as of 10/31/2018)


Portfolio Allocation

(69.5% of assets as of 10/31/2018)


Equity Strategy High Grade Fixed Income Strategy Opportunistic Strategy
34.7% 21.5% 13.3%

Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector
Fixed Income Sector
Country Capital Income Fund 65% BBG Barc US Agg/35% Russell 3000® Overweight / Underweight
United States 74.4% - -
Germany 2.3% - -
United Kingdom 2.1% - -
Switzerland 1.0% - -
Canada 0.9% - -
Ireland 0.9% - -
Bermuda 0.8% - -
Russia 0.7% - -
France 0.7% - -
Netherlands 0.4% - -
Taiwan 0.3% - -
Belgium 0.2% - -
Supranational (non-iso) 0.2% - -
Luxembourg 0.2% - -
Portugal 0.1% - -
Australia 0.1% - -
Marshall Islands 0.1% - -
Norway 0.1% - -
Hong Kong 0.1% - -
Cayman Islands 0.1% - -
Developed Markets Capital Income Fund 65% BBG Barc US Agg/35% Russell 3000® Overweight / Underweight
Americas 76.3% - -
Europe 4.8% - -
Supranational 0.2% - -
Asia Pacific -0.9% - -
Emerging Markets Capital Income Fund 65% BBG Barc US Agg/35% Russell 3000® Overweight / Underweight
Europe 0.7% - -
Americas -0.5% - -
Asia Pacific -5.8% - -
Equity Sector Capital Income Fund 65% BBG Barc US Agg/35% Russell 3000® Overweight / Underweight
Financials 7.2% - -
Health Care 6.6% - -
Industrials 4.0% - -
Information Technology 3.9% - -
Energy 3.0% - -
Consumer Staples 2.9% - -
Communication Services 2.2% - -
Broad Market 2.1% - -
Utilities 1.8% - -
Materials 1.6% - -
Consumer Discretionary 0.7% - -
Fixed Income Sector Capital Income Fund 65% BBG Barc US Agg/35% Russell 3000® Overweight / Underweight
Corporates 35.4% - -
Agencies MBS 10.8% - -
ABS 10.8% - -
Non Agencies MBS 4.7% - -
CMBS 2.8% - -
Catastrophe 1.3% - -
Agencies -3.3% - -
Treasuries -23.6% - -
Analytics
(As of 10/31/2018)

Morningstar 10/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
460
Category
Allocation--30% to 50% Equity
Performance Statistics
3Y
5Y
Alpha
-0.87
-1.07
Beta
0.81
0.83
Information Ratio
-0.99
-1.23
R-Squared
81.98
84.72
Sharpe Ratio
0.62
0.75
Standard Deviation
3.42
3.51
Sortino Ratio
0.93
1.16
Tracking Error
1.65
1.54
Yields
Standardized Yield
1.98%
Unsubsidized Yield
1.93%
Portfolio Characteristics
Fund
Fund Index
Return on Equity
10.94%
16.90%
EPS Growth Rate 3Y
0.88%
10.09%
EPS Growth Rate 5Y
1.77%
7.88%
Sales Growth Rate 3Y
3.21%
6.39%
Sales Growth Rate 5Y
2.50%
5.97%
Yield to Maturity
3.04%
2.34%
Yield to Worst
2.76%
2.33%
Current Duration
1.60 yrs
3.80 yrs
Turnover Ratio
88%
-
Dividends
  • D
Est. Frequency
Quarterly
Last Pay Date
9/21/2018
Per Share ($)
$0.0418
12-Month Distribution ($)
$0.1924
Distribution Sources
  • D
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Tools
Morningstar logo 95x28 trans
Documents
  1. 1. The Fund's investment objective changed from "seeks as much current income as is compatible with prudent investment" to "seeks total return" on 12/28/12.
  2. 2. Effective 11/1/13, the Fund increased its investment limit on below-investment-grade securities from 25% to 40%, and the Fund increased its investment limit on illiquid securities from 10% to 15%. Please see the Fund's prospectus and prospectus supplement for further information.
  3. 3. Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Below-investment-grade (“high yield” or “junk”) bonds are more at risk of default and are subject to liquidity risk. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Mortgage-backed securities are subject to prepayment risk. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. Asset-backed securities are subject to prepayment risk. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. The Fund may also invest through a wholly-owned Cayman Islands subsidiary, which involves the risk that changes to the laws of the Cayman Islands could negatively affect the Fund. Diversification does not guarantee profit or protect against loss.
  4. 4. The Manager has contractually agreed to waive expenses in an amount equal to the management fee it receives from its Subsidiary for so long as the Fund invests in the Subsidiary. This waiver may not be terminated without the prior approval of the Fund's Board of Trustees.
  5. 5. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less.  These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
  6. 6. The index returns are made up of the returns of 35% Russell 3000® Index and 65% Bloomberg Barclays U.S. Aggregate Bond Index. The Russell 3000® Index measures the performance of the largest 3,000 U.S. companies, representing approximately 98% of the investable U.S. equity market. The Bloomberg Barclays U.S. Aggregate Bond Index is an index of U.S dollar-denominated, investment-grade U.S. corporate government and mortgage-backed securities. The indices are unmanaged and cannot be purchased directly by investors. Index performance is shown for illustrative purposes only and does not predict or depict performance of the Fund. Past performance does not guarantee future results.
  7. 7. Holdings are subject to change, and are dollar weighted based on total new assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the Fund’s net asset value and fluctuations of dividends and distributions paid by the Fund.
  8. 8. Standardized yield for each share class is based on an SEC standardized formula designed to approximate a Fund's annualized hypothetical current income from securities less expenses for the 30-day period ending and including the most recent month-end or quarter-end and either that date's maximum offering price (Class A shares) or net asset value (for other share classes).  The month-end figure is typically calculated on the fifth business day of the next month. The result is compounded semiannually and annualized.  Falling share prices artificially increase yields.
  9. A. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
  10. B. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated.  Class C shares are subject to a 0.75% annual asset-backed sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
  11. C. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund).  These returns would be lower if sales charges were taken into consideration.  Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
  12. D. There is no guarantee of the payment of any dividend or other distributions at any level.
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