U.S. Flag United States
Private Client Group
Ă—

Domestic Debt

Ultra-Short Duration Fund

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

Investment Style
Ultra Short Bond
Fund Inception
November 28, 2014
Total Assets (all classes) (as of 7/31/2017)
$773 million
Fund Index
Merrill Lynch T-Bill
NAV (as of 8/23/17)
  • A
$5.07

Equity

Fixed Income

Municipal Bond
performance
analytics
holdings
as of 7/31/2017
as of 6/30/2017

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
1 mo 3 mo ytd as of 8/23/17
  • C
1 yr since inception
Ultra-Short Duration Fund (NAV)
0.11% 0.32% 0.84% 2.35% 1.35%
Cumulative
Annualized
1 mo 3 mo ytd as of 8/23/17
  • C
1 yr since inception
Ultra-Short Duration Fund (NAV)
0.12% 0.33% 0.84% 2.38% 1.35%
Gross Expense Ratio: 0.37% | Net Expense Ratio: 0.25%

Year Ultra-Short Duration Fund Merrill Lynch T-Bill
2014 0.00% 0.03%
2015 0.49% 0.05%
2016 2.45% 0.33%

Time Period
Date Ultra-Short Duration Fund
4/25/2011 0.00
4/30/2011 0.00
5/31/2011 0.02
6/30/2011 0.04
7/31/2011 0.07
8/31/2011 0.10
9/30/2011 0.15
10/31/2011 0.18
11/30/2011 0.23
12/31/2011 0.28
1/31/2012 0.44
2/29/2012 0.60
3/31/2012 0.66
4/30/2012 0.72
5/31/2012 0.83
6/30/2012 0.89
7/31/2012 0.94
8/31/2012 1.00
9/30/2012 1.10
10/31/2012 1.15
11/30/2012 1.20
12/31/2012 1.25
1/31/2013 1.29
2/28/2013 1.33
3/31/2013 1.37
4/30/2013 1.40
5/31/2013 1.44
6/30/2013 1.46
7/31/2013 1.50
8/31/2013 1.53
9/30/2013 1.56
10/31/2013 1.58
11/30/2013 1.61
12/31/2013 1.65
1/31/2014 1.68
2/28/2014 1.70
3/31/2014 1.72
4/30/2014 1.75
5/31/2014 1.88
6/30/2014 1.90
7/31/2014 1.85
8/31/2014 1.87
9/30/2014 1.90
10/31/2014 1.93
11/30/2014 1.95
12/31/2014 1.88
1/31/2015 2.01
2/28/2015 2.04
3/31/2015 2.08
4/30/2015 2.11
5/31/2015 2.15
6/30/2015 2.09
7/31/2015 2.14
8/31/2015 2.10
9/30/2015 2.36
10/31/2015 2.42
11/30/2015 2.49
12/31/2015 2.39
1/31/2016 2.47
2/29/2016 2.55
3/31/2016 2.66
4/30/2016 2.95
5/31/2016 3.04
6/30/2016 3.13
7/31/2016 3.22
8/31/2016 3.31
9/30/2016 3.40
10/31/2016 3.49
11/30/2016 3.57
12/31/2016 3.68
1/31/2017 3.78
2/28/2017 3.88
3/31/2017 3.99
4/30/2017 4.10
5/31/2017 4.21
6/30/2017 4.33
7/31/2017 4.45
Date Dividends
12/31/2014 0.0026
1/30/2015 0.0028
2/27/2015 0.0027
3/31/2015 0.0034
4/30/2015 0.0036
5/29/2015 0.0039
6/30/2015 0.0041
7/31/2015 0.0051
8/31/2015 0.0028
9/30/2015 0.0027
10/30/2015 0.0031
11/30/2015 0.0031
12/31/2015 0.0051
1/29/2016 0.004
2/29/2016 0.0039
3/31/2016 0.0055
4/29/2016 0.0042
5/31/2016 0.0043
6/30/2016 0.0041
7/29/2016 0.0043
8/31/2016 0.0042
9/30/2016 0.004
10/31/2016 0.0041
11/30/2016 0.0042
12/30/2016 0.005
1/31/2017 0.0051
2/28/2017 0.0048
3/31/2017 0.0054
4/28/2017 0.0053
5/31/2017 0.0055
6/30/2017 0.0055
7/31/2017 0.0059

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

$ per share as of 8/23/2017

Date 2012 2013 2014 2015 2016
Short Term 0.0100 0.0048
Long Term 0.0002
Total Amount of Distribution 0.0100 0.0050
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.

Analytics

(As of 7/31/2017)

Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
7/31/2017
Per Share ($)
$0.01
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
12-Month Distribution ($)
$0.06
Portfolio Characteristics
Fund
Fund Index
Yield to Maturity
1.42%
1.07%
Yield to Worst
1.42%
106.70%
Average Effective Maturity
0.47 yrs
0.00 yrs
Current Duration
0.40 yrs
0.30 yrs
Average Coupon
1.70%
-
Effective Coupon
1.70%
-
Convexity
0.0
-
Option Adjusted Spread
39.03 bps
0.00 bps
Turnover Ratio
90.00%
-
Yields
Dividend Yield (w/o sales charge)
1.36%
Standardized Yield
1.33%

Top Asset Allocations

(142.2% of assets as of 07/31/17)


Portfolio Holdings Breakdown

Country 8
Developed Markets 8
Credit Rating Allocation
Country Ultra-Short Duration Fund Merrill Lynch T-Bill Overweight / Underweight
United States 60.9% 100.0% -39.1%
Canada 10.5% - -
Japan 6.3% - -
United Kingdom 4.9% - -
Sweden 3.9% - -
Netherlands 3.6% - -
Germany 2.2% - -
France 2.1% - -
Italy 1.7% - -
Switzerland 1.7% - -
Australia 1.5% - -
Denmark 0.6% - -
Developed Markets Ultra-Short Duration Fund Merrill Lynch T-Bill Overweight / Underweight
Americas 71.4% 100.0% -28.6%
Europe 20.8% - -
Asia Pacific 7.8% - -
Credit Rating Allocation Ultra-Short Duration Fund Merrill Lynch T-Bill Overweight / Underweight
A 38.3% - -
BBB 28.9% - -
Unrated 16.9% - -
AA 11.7% - -
AAA 4.0% - -
Agency 0.3% - -
  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. 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.
  3. 3. 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.
  4. 4. Access index definitions.
  5. 5. The dividend (or distribution) yield is based on the pay date immediately preceding the nearest month-end or quarter-end. The dividend yield for each share class is calculated by annualizing the dividend distributed by the class on that date and dividing that figure by the class's net asset value on that date. For the Class A dividend yield with sales charge, the annualized Class A dividend distribution is divided by the Class A maximum offering price on that date. Each result is compounded semiannually and annualized. Falling share prices artificially increase yields.
  6. 6. 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.
  7. 7. 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.
  8. 8. 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.
  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 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. ↩
  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. ↩
Ă—
Loading...
Tiny Button Small Button Large Button Default Button Secondary Button Framed Button Framed Button ( Small Caps )