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Domestic Debt

The Strategy typically invests in short-term investment-grade debt securities.
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Ultra-Short Duration Fund

OSDIX

The Strategy typically invests in short-term investment-grade debt securities.

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Cumulative Total Returns

as of 7/31/17

Since Inception 11/28/14
4%
Performance & Distributions
×

Domestic Debt

Gross Expense Ratio:
      0.37%
    Net Expense Ratio:
        0.25%

      Cumulative Returns

      Compare to Indices

      Ultra-Short Duration Fund
      VALUE of $10,000.00

      Income Dividend History
      • A

      No income dividends were paid during this time.
      Calendar Year Returns % (w/o sales charge)
      Data as of 8/16/17
        2014 2015 2016 YTD
      • B
      Ultra-Short Duration Fund 0.49 2.45 0.80
      Merrill Lynch T-Bill
      0.03 0.05 0.33
      Capital Gains Distributions ($ per share)
      Data as of 8/17/17
        2012 2013 2014 2015 2016
      Short Term 0.0100 0.0048
      Long Term 0.0002
      Total Amount of Distribution 0.01 0.005
      Record Date 9/28/12 12/31/14
      Ex Div Date 9/28/12 12/31/14
      Pay Date 9/28/12 12/31/14

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

      Average Annual Total Returns

      as of 7/31/17

      as of 6/30/17

      YTD (as of 8/16/17)
      • B
      0.80%
      1 Year 2.38%
      Since Inception 1.35%
      YTD (as of 8/16/17)
      • B
      0.80%
      1 Year 2.38%
      Since Inception 1.35%
      YTD (as of 8/16/17)
      • B
      0.80%
      1 Year 2.35%
      Since Inception 1.35%
      YTD (as of 8/16/17)
      • B
      0.80%
      1 Year 2.35%
      Since Inception 1.35%
      Gross Expense Ratio
      0.37%
      Net Expense Ratio
      0.25%
      NAV
      • C
      as of 8/16/17
      $5.07
      Yields

      monthly as of 7/31/17

      Standardized SEC Yield 1.33%
      Dividend Yield
      with sales charge
      N/A
      Dividend Yield
      w/o sales charge
      1.36%
      Top Asset Allocations

      07/31/17

      Corporate Bonds
      53.0%
      Commercial Paper
      42.7%
      Net Cash and Equivalents
      42.2%
      ABS
      4.0%
      US Govt Agency
      0.3%
      ×
      • 53.0%
        Corporate Bonds
      COUNTRY Australia, Canada, Denmark, France, Germany, Japan, Netherlands, Sweden, Switzerland, United Kingdom, United States
      CREDIT RATING ALLOCATION AA, A, BBB
      ×
      • 42.7%
        Commercial Paper
      COUNTRY Canada, France, Germany, Italy, Japan, Netherlands, Sweden, United Kingdom, United States
      CREDIT RATING ALLOCATION A, BBB, Unrated
      ×
      • 42.2%
        Net Cash and Equivalents
      ×
      • 4.0%
        ABS
      COUNTRY United States
      CREDIT RATING ALLOCATION AAA
      ×
      • 0.3%
        US Govt Agency
      COUNTRY United States
      CREDIT RATING ALLOCATION Agency
      Holdings Breakdown

      as of 07/31/17

      60.9%

      United States

      10.5%

      Canada

      6.3%

      Japan

      4.9%

      United Kingdom

      3.9%

      Sweden

      3.6%

      Netherlands

      2.2%

      Germany

      2.1%

      France

      1.7%

      Italy

      1.7%

      Switzerland

      1.5%

      Australia

      0.6%

      Denmark

      71.4%

      Americas

      No Asset Allocation
      in
      Americas
      20.8%

      Europe

      No Asset Allocation
      in
      Europe
      7.8%

      Asia Pacific

      No Asset Allocation
      in
      Asia Pacific
      38.3%

      28.9%

      16.9%

      11.7%

      4.0%

      0.3%

      Equity Style
      Total Assets (all classes)
      as of 7/31/17
      $772.8 MM
      Portfolio Statistics

      as of 7/31/17

      Turnover Ratio
      90.00%
      Duration (yrs)
      0.4
      Investment Minimums
      Initial
      $250,000
      Dividends ($ per share)
      • A
      Est Frequency Monthly
      Last Pay Date 7/31/17
      Per Share ($) 0.0059
      12-Month Distribution ($) 0.0589
      Distribution Sources
      Net Income 100.00%
      Net Profit from Sale 0.00%
      Other Capital Sources 0.00%
      Top Asset Allocations

      07/31/17

      Corporate Bonds...
      53.0%
      Commercial Pape...
      42.7%
      Net Cash and Eq...
      42.2%
      ABS
      4.0%
      US Govt Agency
      0.3%
      Holdings Breakdown

      as of 07/31/17

      Reset
      60.9%

      United States

      10.5%

      Canada

      6.3%

      Japan

      4.9%

      United Kingdom

      3.9%

      Sweden

      3.6%

      Netherlands

      2.2%

      Germany

      2.1%

      France

      1.7%

      Italy

      1.7%

      Switzerland

      1.5%

      Australia

      0.6%

      Denmark

      71.4%

      Americas

      No Asset Allocation
      in
      Americas
      20.8%

      Europe

      No Asset Allocation
      in
      Europe
      7.8%

      Asia Pacific

      No Asset Allocation
      in
      Asia Pacific
      38.3%

      28.9%

      16.9%

      11.7%

      4.0%

      0.3%

      ×
      • 53.0%
        Corporate Bonds
      COUNTRY Australia, Canada, Denmark, France, Germany, Japan, Netherlands, Sweden, Switzerland, United Kingdom, United States
      CREDIT RATING ALLOCATION AA, A, BBB
      ×
      • 42.7%
        Commercial Paper
      COUNTRY Canada, France, Germany, Italy, Japan, Netherlands, Sweden, United Kingdom, United States
      CREDIT RATING ALLOCATION A, BBB, Unrated
      ×
      • 42.2%
        Net Cash and Equivalents
      ×
      • 4.0%
        ABS
      COUNTRY United States
      CREDIT RATING ALLOCATION AAA
      ×
      • 0.3%
        US Govt Agency
      COUNTRY United States
      CREDIT RATING ALLOCATION Agency

      Management

      Christopher Proctor, CFA

      Managed Fund since 4/11

      Adam S. Wilde, CFA

      Managed Fund since 7/13

      Investment Approach

      The portfolio managers invest in a variety of investment-grade short term debt and money market instruments with a duration of typically one year or less. The team also employs extensive credit research based on credit time seniority and liquidity when constructing the portfolio.

      Risk Management

      Our team limits exposure to individual companies, industries and sectors, seeking to limit volatility through company quality and diversification. Risk Management Overview

      We conduct rigorous fundamental research to identify individual companies with asymmetrical risk/return opportunities. Risk Management Overview

      At the portfolio level, our experienced investment personnel closely monitor the strategy's positioning, and the active risk resulting from our security selection process and sector allocations. We evaluate factor and style exposure, as well as the ownership and liquidity profile of each security in the portfolio. Risk Management Overview

      Our team proactively manages risk by constructing diversified portfolios across sectors, industry groups and securities. We manage, monitor and limit sector weights relative to specified benchmarks and security position sizes within each portfolio. Risk Management Overview

      Our team closely monitors position size and sector weights; we have limits on active security weights against the benchmark for each strategy we manage. Risk Management Overview

      Risk is managed at the portfolio, strategy and security levels to identify diversified sources of alpha. We mainly focus on currency, interest rates and credit. Positions are sized and monitored according to established limits. Risk Management Overview

      We focus primarily on senior loans in an effort to maintain product integrity and limit duration risk. Risk Management Overview

      The team manages risk at both a strategy and individual security level to help ensure that, when combined, they act as the ballast in an investor’s overall portfolio. Risk Management Overview

      Risk is managed at the portfolio, strategy and security levels to identify diversified sources of alpha. We seek to identify primary and secondary risks of each investment. Diversification of sectors can potentially reduce volatility. Risk Management Overview

      The team manages risk by administering duration limits, limiting portfolio weighted average maturity and conducting thorough credit analysis on individual securities. Risk Management Overview

      The Rochester team has created diverse portfolios designed to mitigate the types of risks that municipal bond investors may encounter. Risk Management Overview

      The Commodities team manages risk on multiple levels, including individual commodity sector levels and overall fund level. Risk Management Overview

      The Real Estate team monitors and manages risk at the security, sector and strategy levels. Risk Management Overview

      The Global Multi-Asset Group monitors and manages risk on an ongoing basis, both at the asset class and portfolio levels. Risk Management Overview

      We emphasize capital preservation by avoiding companies that may cut distributions. We seek to build diversified portfolios comprised of energy and energy related companies with attractive risk-adjusted total return potential. Risk Management Overview

      The Alternative Strategies team evaluates risk on multiple levels, applying numerous risk analysis methods on an ongoing basis in addition to assessing risk impacts of a position prior to making investment decisions. Risk Management Overview

      Risk is monitored by quantitative risk system and managed at many levels – stock, sector, country, and style factors. We seek to diversify the portfolio across the global listed infrastructure market and adhere to an established risk framework, including constraints imposed by position limits versus a benchmark. Risk Management Overview

      We monitor and manage both security and sector weights to the underlying index to ensure that the portfolio is properly tracking its benchmark. Also, partnering with well-known index providers ensures that we hold only high quality securities that pass very stringent profitability and liquidity screens. Risk Management Overview

      ×
      1. 1. Special Risks 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. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. Asset-backed securities are subject to prepayment risk. The Fund may invest 25% or more of its assets in securities issued by companies in the financial services sector which may be susceptible to economic and regulatory events, and increased volatility. Diversification does not guarantee profit or protect against loss.
      2. 2. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million. Class I shares are sold at net asset value without a sales charge. Please see Fund prospectuses for additional information.
      3. 3. On August 7, 2015, the Fund underwent a two for one share split, which resulted in twice as many shares of the Fund outstanding and a lower share price. The Standardized yield figure reflects the average number of shares for the period adjusted for the share split, which is a more accurate reflection of the standardized yield for the Fund. Without such adjustments, the standardized yields for Class Y and I would have been 072% and 0.71%, respectively.
      4. A. There is no guarantee of the payment of any dividend or other distributions at any level.
      5. B. "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.
      6. C. 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.
      ×
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