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Core Plus Bond Fund (STYJX) 

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All data as of 11-30-17 unless otherwise noted.

NAV as of 12-15-17 Daily change Daily change
$12.70 $0.01 0.08%

Morningstar RatingTM
Overall Rating This is a 5 star fund.

Based on risk-adjusted return through 11-30-17
Intermediate-Term Bond category (845 funds)

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5   Morningstar® Style Box

The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) ratings.

Ticker STYJX
CUSIP 94990B308
Fund number 4689
YTD return as of 12-15-17 5.87%
Inception date 10-31-16
Net fund assets as of 12-15-17 570494708
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Fund highlights

    • Seeks to achieve compelling risk-adjusted returns by using a relative-value framework for duration (within one year of the benchmark), yield-curve positioning, sector allocation, and security selection decisions
    • Allows our portfolio managers to strategically allocate up to 35% in "plus" sectors, including high-yield debt, emerging markets debt, and non-U.S.-dollar corporate and government debt
    • Combines a top-down and bottom-up approach and uses a six-month investment horizon to anticipate market cycles and then position the fund accordingly
    • May be used as a foundational fixed-income allocation, with portfolio managers responsible for tactically allocating to "plus" sectors in an effort to enhance the fund's total return
    • Proven portfolio management team: A team of five managers, with an average of more than 20 years investment experience, has guided portfolios through many market cycles.
    • Sector specialist model: The fund's interdisciplinary team includes sector specialists who are empowered to trade within discrete ranges.
    • Disciplined risk management: Our proprietary risk management tools are designed to balance alpha generation with appropriate levels of risk-adjusted return and comprehensive risk management.

    Management

    Janet Rilling, CFA, CPA
    21 years of investment experience

    Thomas Price, CFA
    27 years of investment experience

    Christopher Kauffman, CFA
    20 years of investment experience

    Noah Wise, CFA
    15 years of investment experience

    Michael Schueller, CFA
    17 years of investment experience

    Total returns (%)

        3 month Year to date 1 year 3 year 5 year 10 year Since inception
    Core Plus Bond Fund NAV -0.12 5.20 5.99 3.76 3.33 5.35 5.09
    NAV
    as of 9-30-17
    1.14 5.04 2.83 4.36 3.43 5.57 5.13
    Bloomberg Barclays US Aggregate Bond Index -0.55 3.07 3.21 2.11 1.98 3.99 0.00
    Lipper Core Plus Bond Funds -0.39 3.95 4.37 2.39 2.40 4.54

    Three-month and year-to-date returns are not annualized.

    Figures quoted represent past performance, which is no guarantee of future results, and do not reflect taxes that a shareholder may pay on a fund. Investment return, principal value, and yields of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains.

    Net asset value (NAV) is the value of one share of the fund excluding any sales charges.

    R6 Class shares are sold without a front-end sales charge or contingent deferred sales charge.

    Does not include sales charges and assumes reinvestment of dividends and capital gains. If sales charges were included, returns would be lower.

    Bond values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. Changes in market conditions and government policies may lead to periods of heightened volatility in the bond market and reduced liquidity for certain bonds held by the fund. In general, when interest rates rise, bond values fall and investors may lose principal value. Interest-rate changes and their impact on the fund and its share price can be sudden and unpredictable. Loans are subject to risks similar to those associated with other below-investment-grade bond investments, such as credit risk (for example, risk of issuer default), below-investment-grade bond risk (for example, risk of greater volatility in value), and risk that the loan may become illiquid or difficult to price. The use of derivatives may reduce returns and/or increase volatility. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). This fund is exposed to foreign investment risk, high-yield securities risk, and mortgage- and asset-backed securities risk. Consult the fund's prospectus for additional information on these and other risks.

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