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Private Client Group
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Multi Asset

Global Allocation Fund

The Strategy primarily invests globally in stocks, bonds and alternatives.

Investment Style
Global Allocation
Fund Inception
May 1, 2000
Total Assets (all classes) (as of 8/31/2017)
$1.61 billion
Fund Index
Custom Index
NAV (as of 9/21/17)
  • A
$19.29

Equity

Fixed Income

Municipal Bond
performance
analytics
holdings
as of 8/31/2017
  • B
as of 6/30/2017
  • B

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
ytd as of 9/21/17
  • C
1 yr 3 yr 5 yr 10 yr since inception
Global Allocation Fund (NAV)
12.42% 12.28% 4.62% 8.22% 2.95% 4.51%
Cumulative
Annualized
ytd as of 9/21/17
  • C
1 yr 3 yr 5 yr 10 yr since inception
Global Allocation Fund (NAV)
12.42% 11.56% 5.31% 8.25% 3.52% 4.61%
Gross Expense Ratio: 1.10% | Net Expense Ratio: 1.04%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.


Year Global Allocation Fund Custom Index
2000 0.00% -
2001 3.73% -
2002 -19.51% -
2003 30.96% -
2004 10.62% 13.04%
2005 3.15% 5.45%
2006 10.94% 15.01%
2007 -3.62% 10.43%
2008 -31.34% -24.35%
2009 33.34% 24.21%
2010 13.83% 10.98%
2011 -7.45% -0.82%
2012 10.50% 11.86%
2013 18.25% 12.87%
2014 0.38% 3.36%
2015 0.60% -1.70%
2016 5.02% 6.52%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.


Date Global Allocation Fund 60% MSCI ACWI/40% Bloomberg Barclays Global Aggregate Bond Index Hedged USD BBG Barclays Agg S&P 500
8/31/2007 0.00 0.00 0.00 0.00
9/30/2007 1.95 3.92 0.76 3.74
10/31/2007 0.58 6.82 1.66 5.39
11/30/2007 -3.40 4.80 3.49 0.98
12/31/2007 -5.90 4.06 3.78 0.28
1/31/2008 -7.03 0.21 5.53 -5.73
2/29/2008 -9.37 0.69 5.67 -8.79
3/31/2008 -14.99 0.62 6.03 -9.19
4/30/2008 -10.54 3.36 5.81 -4.77
5/31/2008 -10.54 4.03 5.04 -3.53
6/30/2008 -17.08 -1.14 4.95 -11.66
7/31/2008 -17.02 -2.45 4.87 -12.41
8/31/2008 -15.57 -3.85 5.86 -11.14
9/30/2008 -24.75 -11.61 4.44 -19.06
10/31/2008 -34.98 -22.93 1.97 -32.65
11/30/2008 -38.26 -24.90 5.29 -37.48
12/31/2008 -35.39 -21.28 9.22 -36.82
1/31/2009 -37.91 -26.10 8.26 -42.14
2/28/2009 -43.62 -30.99 7.85 -48.30
3/31/2009 -40.48 -26.76 9.35 -43.78
4/30/2009 -34.74 -21.31 9.87 -38.40
5/31/2009 -28.43 -15.81 10.67 -34.95
6/30/2009 -29.09 -15.83 11.30 -34.82
7/31/2009 -22.57 -10.70 13.09 -29.89
8/31/2009 -19.59 -8.12 14.26 -27.36
9/30/2009 -17.15 -4.85 15.46 -24.65
10/31/2009 -18.83 -5.60 16.03 -26.05
11/30/2009 -15.16 -2.22 17.54 -21.61
12/31/2009 -13.85 -2.22 15.70 -20.10
1/31/2010 -14.91 -4.47 17.47 -22.97
2/28/2010 -13.79 -3.46 17.90 -20.59
3/31/2010 -9.52 0.00 17.76 -15.79
4/30/2010 -7.65 0.40 18.99 -14.47
5/31/2010 -13.02 -5.63 19.99 -21.30
6/30/2010 -16.26 -6.95 21.87 -25.42
7/31/2010 -12.13 -1.32 23.17 -20.19
8/31/2010 -15.13 -2.91 24.75 -23.79
9/30/2010 -8.27 3.43 24.89 -16.99
10/31/2010 -5.19 6.17 25.33 -13.83
11/30/2010 -6.89 3.63 24.61 -13.82
12/31/2010 -1.93 8.52 23.27 -8.06
1/31/2011 -2.06 9.73 23.41 -5.88
2/28/2011 0.67 11.99 23.72 -2.66
3/31/2011 0.78 12.23 23.79 -2.62
4/30/2011 4.28 16.17 25.36 0.26
5/31/2011 2.94 14.87 26.99 -0.87
6/30/2011 1.66 13.82 26.62 -2.52
7/31/2011 1.34 13.52 28.63 -4.51
8/31/2011 -2.56 9.36 30.51 -9.69
9/30/2011 -11.19 2.53 31.46 -16.04
10/31/2011 -5.23 9.71 31.60 -6.87
11/30/2011 -6.96 7.37 31.49 -7.07
12/31/2011 -9.24 7.63 32.93 -6.12
1/31/2012 -5.31 12.06 34.10 -1.91
2/29/2012 -2.29 15.39 34.07 2.33
3/31/2012 -2.18 15.68 33.33 5.69
4/30/2012 -2.97 15.49 34.81 5.03
5/31/2012 -8.69 9.00 36.03 -1.28
6/30/2012 -6.91 12.39 36.09 2.79
7/31/2012 -6.91 13.82 37.96 4.21
8/31/2012 -4.93 15.72 38.05 6.56
9/30/2012 -2.83 18.42 38.24 9.31
10/31/2012 -2.83 17.93 38.52 7.30
11/30/2012 -1.97 18.92 38.73 7.92
12/31/2012 0.28 20.39 38.54 8.90
1/31/2013 4.28 23.38 37.57 14.54
2/28/2013 4.54 23.13 38.26 16.10
3/31/2013 5.89 24.52 38.37 20.45
4/30/2013 8.23 27.27 39.77 22.77
5/31/2013 8.83 25.82 37.27 25.64
6/30/2013 5.94 23.10 35.15 23.96
7/31/2013 10.10 27.23 35.34 30.26
8/31/2013 8.35 25.41 34.64 26.49
9/30/2013 13.53 30.28 35.92 30.46
10/31/2013 15.88 33.94 37.02 36.46
11/30/2013 16.95 34.75 36.50 40.61
12/31/2013 18.59 35.89 35.73 44.17
1/31/2014 15.93 33.33 37.74 39.19
2/28/2014 20.50 37.92 38.47 45.56
3/31/2014 19.17 38.28 38.23 46.78
4/30/2014 18.22 39.65 39.40 47.86
5/31/2014 19.51 41.80 40.99 51.34
6/30/2014 20.65 43.84 41.06 54.46
7/31/2014 18.18 42.27 40.71 52.33
8/31/2014 20.99 44.62 42.26 58.43
9/30/2014 17.97 40.33 41.29 56.20
10/31/2014 19.54 41.08 42.68 60.02
11/30/2014 20.64 42.38 43.70 64.32
12/31/2014 19.03 40.45 43.83 63.91
1/31/2015 18.69 39.32 46.85 58.99
2/28/2015 23.25 43.46 45.47 68.13
3/31/2015 23.32 41.77 46.14 65.47
4/30/2015 24.63 44.74 45.62 67.05
5/31/2015 26.36 43.70 45.27 69.20
6/30/2015 24.98 41.43 43.68 65.93
7/31/2015 25.54 42.33 44.68 69.40
8/31/2015 19.27 36.60 44.47 59.18
9/30/2015 16.99 33.94 45.45 55.24
10/31/2015 22.50 40.35 45.47 68.34
11/30/2015 22.22 39.69 45.09 68.84
12/31/2015 19.75 38.06 44.62 66.18
1/31/2016 16.37 33.83 46.61 57.93
2/29/2016 15.94 33.83 47.65 57.72
3/31/2016 20.81 40.18 49.01 68.42
4/30/2016 21.52 41.53 49.58 69.07
5/31/2016 21.31 41.89 49.62 72.11
6/30/2016 23.05 42.54 52.30 72.55
7/31/2016 26.45 46.56 53.27 78.91
8/31/2016 26.67 46.83 53.09 79.17
9/30/2016 27.91 47.38 53.00 79.20
10/31/2016 26.13 45.31 51.83 75.93
11/30/2016 24.14 45.01 48.24 82.45
12/31/2016 25.76 47.05 48.45 86.05
1/31/2017 28.25 49.24 48.74 89.58
2/28/2017 30.96 52.26 49.74 97.11
3/31/2017 32.66 53.36 49.66 97.34
4/30/2017 35.07 55.22 50.82 99.36
5/31/2017 38.15 57.64 51.98 102.17
6/30/2017 38.15 57.90 51.83 103.43
7/31/2017 40.21 60.75 52.48 107.62
8/31/2017 41.31 61.71 53.85 108.25
Date Dividends
12/10/2007 0.0964
3/10/2008 0.0712
6/9/2008 0.0768
9/23/2008 0.0961
12/8/2008 0.0874
3/17/2009 0.0582
6/16/2009 0.0442
9/22/2009 0.0341
12/7/2009 0.0304
3/16/2010 0.0338
6/22/2010 0.0431
9/21/2010 0.0539
12/30/2010 0.1272
3/22/2011 0.0181
6/21/2011 0.095
9/20/2011 0.0321
12/22/2011 0.3413
3/20/2012 0.0269
6/19/2012 0.0591
9/18/2012 0.0285
12/20/2012 0.0909
3/19/2013 0.0233
6/18/2013 0.0789
9/17/2013 0.042
12/17/2013 0.2668
3/18/2014 0.0161
6/17/2014 0.076
9/16/2014 0.0186
12/15/2014 0.133
3/16/2015 0.0289
6/15/2015 0.0911
9/21/2015 0.0322
12/14/2015 0.1948
3/21/2016 0.0098
6/20/2016 0.0858
9/19/2016 0.0249
12/22/2016 0.4976
3/20/2017 0.0127
6/19/2017 0.0316

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 investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 9/22/2017

Date 2012 2013 2014 2015 2016
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.

Analytics

(As of 8/31/2017)

Morningstar 8/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
402
Category
World Allocation
Performance Statistics
3Y
5Y
Alpha
1.54
1.14
Information Ratio
0.65
0.52
Sharpe Ratio
0.74
1.14
R-Squared
88.68
86.82
Standard Deviation
6.98
7.05
Sortino Ratio
0.34
0.59
Beta
0.98
1.02
Tracking Error
2.34
2.56
Dividends
  • D
Est. Frequency
Quarterly
Last Pay Date
6/19/2017
Per Share ($)
$0.03
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
12-Month Distribution ($)
$0.57
Portfolio Characteristics
Fund
Fund Index
Current Duration
2.60 yrs
2.70 yrs
Turnover Ratio
84.00%
-

Top Holdings

(44.7% of assets as of 08/31/17)


Portfolio Positioning

(100.2% of assets as of 08/31/17)


US Fixed Income International Equity US Equity International Fixed Income Alternatives Emerging Equity FX Overlays
37.4% 26.1% 23.8% 8.7% 7.1% 6.8% -9.7%

Portfolio Holdings Breakdown

Country 7
Developed Markets 7
Emerging Markets 7
Equity Sector 7
Fixed Income Sector
Country Global Allocation Fund Custom Index
Overweight / Underweight
United States 70.2% - -
Japan 7.4% - -
France 5.3% - -
Germany 2.6% - -
Turkey 2.6% - -
India 2.5% - -
Mexico 2.2% - -
Poland 1.8% - -
Malaysia 1.8% - -
Netherlands 1.6% - -
Bermuda 1.4% - -
Brazil 1.3% - -
Taiwan 1.3% - -
Indonesia 1.3% - -
Russia 1.2% - -
Spain 1.1% - -
Chile 1.0% - -
Colombia 0.9% - -
Supranational (non-iso) 0.8% - -
Australia 0.6% - -
Developed Markets Global Allocation Fund Custom Index
Overweight / Underweight
Americas 72.3% - -
Asia Pacific 7.9% - -
Europe 7.3% - -
Supranational 0.8% - -
Middle East -0.3% - -
Emerging Markets Global Allocation Fund Custom Index
Overweight / Underweight
Asia Pacific 7.3% - -
Europe 5.7% - -
Americas 5.6% - -
Africa 0.5% - -
Middle East 0.1% - -
Multi -1.6% - -
Equity Sector Global Allocation Fund Custom Index
Overweight / Underweight
Information Technology 12.3% - -
Consumer Discretionary 10.3% - -
Industrials 8.7% - -
Financials 8.7% - -
Health Care 6.0% - -
Consumer Staples 5.7% - -
Energy 4.1% - -
Telecommunication Services 2.4% - -
Materials 2.3% - -
Utilities 0.9% - -
Real Estate 0.7% - -
Broad Market -3.0% - -
Fixed Income Sector Global Allocation Fund Custom Index
Overweight / Underweight
Treasuries 28.5% - -
Corporates 13.7% - -
Catastrophe 4.8% - -
Sovereign 0.8% - -
  1. 1. Because of changes to certain non-fundamental investment policies in connection with a change from a balanced strategy to a global allocation strategy, performance prior to 8/16/10 is not indicative of performance for any subsequent periods.
  2. 2. Special Risks: 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. Eurozone investments may be subject to volatility and liquidity issues. Investments in securities of growth companies may be volatile. Mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a mid-sized company, if any gain is realized at all. Event-linked securities are fixed income securities, otherwise known as Cat Bonds, for which the return of principal and interest payment is contingent on the non-occurrence of a trigger event that leads to physical or economic loss. If the trigger event occurs prior to maturity, the Fund may lose all or a portion of its principal and additional interest. Value investing involves the risk that undervalued securities may not appreciate as anticipated. 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. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. Commodity-linked investments are speculative and have substantial risks, including the loss of principal. 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.
  3. 3. 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.
  4. 4. 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.
  5. 5. For Share Classes with less than a one-year track record, expense ratios are estimated based on the Manager's projections of those expenses for the coming fiscal year.
  6. 6. Access index definitions.
  7. 7. Holdings are subject to change, and are dollar weighted based on total net 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. 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. ↩
  9. B. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment. ↩
  10. 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. ↩
  11. D. There is no guarantee of the payment of any dividend or other distributions at any level. ↩
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