You should consider the fund’s investment objectives, risks, charges, and expenses carefully before investing. Click here to obtain a prospectus which contains this and other information on the fund. Please read the prospectus carefully before you invest. Consult the prospectus for more information.
Calculations include reinvestment of all distributions. Returns for periods less than one year are cumulative. Performance would have been lower if fees had not been waived in various periods. For MWSIX the total expense ratio is 1.63%. Expenses reflect a contractual agreement by the Advisor to reduce its fees and/or absorb expenses to limit the fund’s total annual operating expenses for the current fiscal year. The advisor voluntarily extended the agreement for the current fiscal year, and expects to renew the contractual expense limitation each year in May.
Bond Funds have the same interest rate, high yield and credit risks associated with the underlying bonds in the portfolio, all of which could reduce the Fund’s value. As interest rates rise, the value of the Fund can decline and an investor can lose principal.
1 The expenses of the fund are affected by the performance based fee which can vary. Please refer to the prospectus for complete fee structure.
2 The Merrill Lynch 3-Month UST Index is comprised of a single U.S. Treasury issue with approximately three months to final maturity purchased at the beginning of each month and held for one full month. At the end of the month, that issue is sold and rolled into a newly selected issue. The Adviser has selected the Index plus 200 basis points (2%) as the appropriate benchmark for performance comparison purposes. Unlike a mutual fund, the performance of an index assumes no taxes, transaction costs, management fees, or other expenses. The securities in the fund may differ substantially from those in the index.