Strategic Income Fund
The New Core: A Flexible Fund Designed for All Markets
- Flexible fixed income fund designed for all markets. Seeks high income and total return without sacrificing the stability benefits of traditional fixed income
- Diversification and a dynamic approach to duration and sector allocations have benefitted the Fund’s historical performance, particularly during challenging market environments
- Portfolio managers average 25+ years of experience, backed by a team of over 170 members in eight global locations, overseeing more than $150 billion in fixed income assets
Average Annual Total Returns
- Daily (as of )
- Monthly (as of )
- Quarterly (as of )
Performance data quoted represent past performance, which is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original costs. Results are shown on a “total return” basis and include reinvestment of all dividends and capital gain distributions. Current performance may be lower or higher than the performance data quoted.
Annualized Total Returns with sales charge reflect deduction of current maximum initial sales charge of 5.75% for Class A shares of equity funds and alternative funds (except alternatives funds that invest primarily in fixed income instruments), and 4.25% for Class A shares of fixed income funds and alternative funds that primarily invest in fixed income instruments, and 2.50% for Class A shares of short-term fixed income funds and applicable contingent deferred sales charges (CDSC) for Class C shares. The maximum CDSC for Class C shares is 1%, which is reduced to 0% after 1 year. Please see each fund’s prospectus for the applicable sales charge. For funds with less than one year of performance, returns shown are cumulative rather than annualized.
$10,000 Hypothetical Investment
This chart shows the value of a hypothetical $10,000 investment in the Fund since inception. All results include the reinvestment of income dividends and distributions. Returns do not reflect the effect of taxes an investor would pay on Fund distributions or on the redemption of Fund shares. Results represent past performance and do not indicate future results. Performance figures would be reduced if sales charges were applied.
Calendar Year Returns
Performance figures would be reduced if sales charges were applied.
- 3-Year Risk Return Profile
- 3-Year Upside / Downside Capture
3-Year Risk Return Profile
Standard Deviation is a statistical measure of portfolio risk. The Standard Deviation describes the average deviation of the portfolio returns from the mean portfolio return over a certain period of time. Standard Deviation measures how wide this range of returns typically is. The wider the typical range of returns, the higher the Standard Deviation of returns, and the higher the portfolio risk.
3-Year Upside / Downside Capture
Up Capture Ratio is a measure of the manager’s performance in up markets relative to the market itself. A value of 110 suggests the manager performs ten percent better than the market when the market is up. The Upside Capture Ratio is calculated by dividing the return of the manager during the up market periods by the return of the market during the same periods.
Down Capture Ratio is a measure of the manager’s performance in down markets relative to the market itself. A value of 90 suggests the manager’s loss is only nine tenths of the market’s loss. The Downside Capture Ratio is calculated by dividing the return of the manager during the down periods by the return of the market during the same periods.
The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index that represents the U.S. domestic investment-grade bond market. It is comprised of the Bloomberg Barclays Government/Corporate Bond Index, Mortgage-Backed Securities Index, and Asset-Backed Securities Index, including securities that are of investment-grade quality or better, have at least one year to maturity, and have an outstanding par value of at least $250 million. Please note that indices do not take into account any fees and expenses of investing in the individual securities that they track, and that individuals cannot invest directly in any index. Data about the performance of this index are prepared or obtained by the Manager and reflect the reinvestment of income dividends and other distributions, if any. The Fund may invest in many securities not included in the above-described index.
Total (net) expense represents the total annual operating expenses that shareholders pay (after the effect of fee waivers and/or expense reimbursement). The Manager contractually caps certain expenses of the Fund (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses, dividend and interest expenses relating to short sales, and extraordinary expenses, if any; consequently, total (net) expenses may exceed the contractual cap) through 10/31/2023 for Institutional Class at 0.59%, Class A at 0.99%, Class C at 1.69%, Trust Class at 0.94% and Class R6 at 0.49% (each as a % of average net assets). Absent such arrangements, which cannot be changed without Board approval, the returns may have been lower. Information as of the most recent prospectus dated February 28, 2020, as amended and supplemented.
Alpha (average 3-year shown) is a measure of the excess returns of the Fund relative to its benchmark index. Beta is a measure of market-related risk (expressed between 0-1%) of a portfolio compared to that of the overall market, as represented by an index. The lower the beta the lower the sensitivity to the movements of the market, as represented by the index. Sharpe Ratio (average 3-year shown) is a measure of risk-adjusted returns that can be used to compare the performance of managers. The ratio represents the return gained per unit of risk taken. Managers with the same excess return for a period but different levels of risk will have Sharpe ratios that reflect the difference in the level of risk. Standard Deviation (average 3-year shown) is a statistical measure of portfolio risk that describes the average deviation of portfolio returns from the mean portfolio return over a certain period of time to show how wide this range of returns typically is. The wider the typical range of returns, the higher the Standard Deviation, and the higher the portfolio risk. Upside Capture is a measure of the manager’s performance in up markets relative to the market itself. A value of 110 suggests the manager performs ten percent better than the market when the market is up. During the selected time period, the return for the market for each period is considered an up market period if it is greater than zero. Upside Capture is calculated by dividing the return of the manager during the up market periods by the return of the market during the same periods. Downside Capture is a measure of the manager’s performance in down markets relative to the market itself. A value of 90 suggests the manager’s loss is only nine tenths of the market’s loss. During the selected time period the return for the market for each period is considered a down market period if it is less than zero. Downside Capture is calculated by dividing the return of the manager during the down periods by the return of the market during the same periods. Weighted Average Maturity is expected average life to worst or in other words the par-weighted average time (in years) to principal repayment for securitized assets or the time (in years) to probable call/put for non-securitized assets. Average Effective Duration can be a useful tool in measuring the price sensitivity of the portfolio to changes in interest rates and measures the % change in price for a 100 bps of shift in interest rates. Unlike other measures of duration, average effective duration takes into account any optionalities (e.g. whether the instrument is callable at a certain price) embedded within each security in the portfolio. Generally, the larger the duration, the more sensitive the portfolio will be to a change in interest rates. Instruments with higher effective durations often carry more risk and have higher price volatility than those with lower durations.
A fund’s 30-day SEC yield is similar to a yield to maturity for the entire portfolio. The formula is designated by the Securities and Exchange Commission (SEC). Past performance is no guarantee of future results. Absent any expense cap arrangement noted above, the SEC yields may have been lower. A negative 30-Day SEC yield results when a Fund’s accrued expenses exceed its income for the relevant period. Please note, in such instances the 30-Day SEC yield may not equal the Fund’s actual rate of income earned and distributed by the fund and therefore, a per share distribution may still be paid to shareholders. The unsubsidized 30-day SEC yields for Class A, Class C, Class R6, Institutional Class and Trust Class are 3.27%, 2.52%, 3.75%, 3.65% and 3.24% respectively.