DOCSLIB.ORG

Invesco U.S. Government Fund Fact Sheet (PDF)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Invesco U.S. Government Fund Fact Sheet (PDF) GOV-PC-1_FactSheet 4/12/2018 5:29 PM Page 1 Mutual Fund Retail Share Classes Data as of March 31, 2018 Invesco U.S. Government Fund Intermediate-term taxable investment grade Investment Objective An actively managed intermediate-term US government bond strategy for The fund seeks total return, comprised of current investors seeking monthly income and limited credit risk. income and capital appreciation. Performance of a $10,000 Investment Portfolio Management Clint W. Dudley, Brian Schneider, Robert Waldner Class A shares at NAV (March 31, 2008 – March 31, 2018) • Invesco U.S. Government Fund - $12,910 Fund Facts $20,000 Nasdaq A: AGOVX C: AGVCX Investor: AGIVX Y: AGVYX R: AGVRX R6: AGVSX R5: AGOIX $10,000 Total Net Assets $562,289,512 Total Number of Holdings 716 Annual Turnover (as of 02/28/17) 30% Distribution Frequency Monthly 0 Distribution Accrual Daily 3/08 3/09 3/10 3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18 Expense Ratios % Net % Total Investment Results Class A Shares 0.97 0.97 Average Annual Total Returns (%) as of March 31, 2018 Class C Shares 1.72 1.72 Investor Class Class A Shares Class C Shares Shares Class Y Shares Investor Class Shares 0.92 0.92 Inception: Inception: Inception: Inception: Style-Specific Class Y Shares 0.72 0.72 04/28/87 08/04/97 09/30/03 10/03/08 Index Per the current prospectus Bloomberg Max Max Barclays U.S. Load CDSC Government 30-Day SEC Yields Period 4.25% NAV 1.00% NAV NAV NAV Index Class A Shares 1.67 Inception 4.85 5.00 3.03 3.03 2.95 - - Class C Shares 1.00 10 Years 2.14 2.59 1.82 1.82 2.60 2.84 2.70 Investor Class Shares 1.77 5 Years -0.18 0.69 -0.06 -0.06 0.71 0.94 1.07 Class Y Shares 1.98 3 Years -1.12 0.31 -0.48 -0.48 0.34 0.53 0.48 1 Year -3.92 0.33 -1.41 -0.43 0.37 0.58 0.44 Quarter -5.13 -0.94 -2.11 -1.13 -0.92 -0.87 -1.15 Bond Holding Statistics Performance quoted is past performance and cannot guarantee comparable future results; current performance Weighted Average Effective Maturity (years) 6.83 may be lower or higher. Visit invesco.com/performance for the most recent month-end performance. Performance Effective Duration 4.73 figures reflect reinvested distributions and changes in net asset value (NAV). Investment return and principal value will vary, and you may have a gain or a loss when you sell shares. No contingent deferred sales charge (CDSC) will be imposed on redemptions of Class C shares following one year from the date shares were purchased. Investment Categories (%) Performance shown at NAV does not include applicable CDSC or front-end sales charges, which would have reduced the performance. The Investor Class shares have no sales charge; therefore, performance is at NAV. Class U.S. Agency Mortgage-Backed Securities 45.95 Y shares have no sales charge; therefore, performance is at NAV. Performance shown prior to the inception date U.S. Non-Agency Mortgage-Backed of Class Y shares is that of Class A shares and includes the 12b-1 fees applicable to Class A shares. Returns less Securities 1.80 than one year are cumulative; all others are annualized. Fund performance reflects any applicable fee waivers U.S. Government Bonds 43.51 and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. Index returns do not reflect U.S. Comm. Mortgage-Backed Securities 5.05 any fees, expenses, or sales charges. U.S. Government Agency Bonds 2.59 Index source: Lipper, Inc. Cash 1.10 Calendar Year Total Returns (%) May not equal 100% due to rounding. Class A Shares at NAV 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 YTD 11.63 0.00 5.34 7.23 2.22 -2.87 3.85 0.18 1.39 1.67 -0.94 Class Y shares and Investor Class shares are available only to certain investors. See the prospectus for more information. The Bloomberg Barclays U.S. Government Index is an unmanaged index considered representative of intermediate-term fixed- income obligations issued by the U.S. Treasury, government agencies and quasi-federal corporations. An investment cannot be made directly in an index. Effective duration is a modified duration calculation which incorporates the expected duration-shortening effect of an issuer's embedded call provision. Weighted average effective maturity (WAM) is a measure, as estimated by the fund’s portfolio managers, of the length of time the average security in a bond fund will mature or be redeemed by its issuer. It takes into account mortgage prepayments, puts, adjustable coupons and potential call dates. GOV-PC-1_FactSheet 4/12/2018 5:29 PM Page 2 Overall Morningstar Rating™ Ratings are based on a risk-adjusted return measure that accounts for variation in a fund’s monthly performance, placing more emphasis on (Class A shares as of downward variations and rewarding consistent performance. Open-end mutual funds and exchange-traded funds are considered a single population March 31, 2018) for comparison purposes. Ratings are calculated for funds with at least a three year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. Had fees not been waived and/or AAA expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Class A shares received 3 stars for the overall, 3 stars for the three years, 3 stars for the five years and 3 stars for the 10 years. The fund was rated among 229, 229, 219 and 165 funds within the Morningstar Intermediate Government Category for the overall period, three, five and 10 years, respectively. Source: ©2018 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Ratings are as of the most recent quarter end and are subject to change every month. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. Ratings for other share classes may differ due to different performance characteristics. Morningstar Rankings Quality Breakdown (% Total) Class A Shares vs. Morningstar Intermediate Government Category Cash 0.96 1 Year 25% (57 of 253) AAA 93.63 3 Years 61% (113 of 229) AA 1.25 5 Years 68% (134 of 219) A 0.97 10 Years 63% (95 of 165) BBB 1.93 Source: Morningstar Inc. Morningstar rankings are based on Not Rated 1.26 total return, excluding sales charges and including fees and Ratings source: Standard & Poor's, Moody's or Fitch, as applicable. A credit rating is an assessment provided by a nationally expenses versus all funds in the Morningstar category. Open- recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations, including end mutual funds and exchange-traded funds are considered a specific securities, money market instruments or other debts. Ratings are measured on a scale that generally ranges from AAA single population for comparison purposes. Had fees not been (highest) to D (lowest); ratings are subject to change without notice. If securities are rated differently by the rating agencies, the waived and/or expenses reimbursed currently or in the past, higher rating is applied. Not Rated indicates the debtor was not rated and should not be interpreted as indicating low quality. A the ranking would have been lower. negative in Cash indicates fund activity that has accrued or is pending settlement. For more information on the rating methodology, please visit www.standardandpoors.com and select 'Understanding Ratings' under Rating Resources on the Lipper Rankings homepage; www.moodys.com and select 'Rating Methodologies' under Research and Ratings on the homepage; www.fitchratings.com and select 'Ratings Definitions' on the homepage. Class A Shares vs. Lipper Intermediate U.S. Government Funds Category About Risk 1 Year 19% (11 of 58) An issuer may be unable to meet interest and/or borrower’s payments may be received earlier or later 3 Years 53% (28 of 52) principal payments, thereby causing its instruments to than expected due to changes in prepayment rates on 5 Years 62% (32 of 51) decrease in value and lowering the issuer’s credit underlying loans. Securities may be prepaid at a price 10 Years 40% (11 of 27) rating. less than the original purchase value. Derivatives may be more volatile and less liquid Obligations issued by US Government agencies and Source: Lipper Inc. Lipper fund percentile rankings are based than traditional investments and are subject to market, instrumentalities may receive varying levels of support on total returns, excluding sales charges and including fees and interest rate, credit, leverage, counterparty and from the government, which could affect the fund’s expenses, and are versus all funds in the Lipper category. Fund performance reflects any applicable fee waivers and/or expense management risks.
Load more

Recommended publications
  • Short Duration Bond Fund YA Share Fact Sheet
    Q2 | 2021 The fund received a 4-star Overall Morningstar Rating as of 6/30/21 among 524 funds in the Short-Term Bond category Putnam Short Duration Bond Fund (Y shares, based on risk- Pursuing income with a multi-sector, lower duration approach adjusted returns) Objective Sector diversification Managing rate sensitivity Fundamental approach The fund seeks as high a rate of The fund invests in a diversified The fund invests in short-term bonds The fund’s experienced portfolio current income as we believe is consistent with preservation of portfolio of fixed-income securities, and other securities, and generally managers implement active strategies capital. including corporate debt, bank maintains an effective duration, or that consider several factors, including loans, sovereign debt, and interest-rate sensitivity, of three credit, interest-rate, and prepayment Portfolio Managers securitized assets, such as years or less. risks, and general market conditions. Emily E. Shanks mortgage-backed and asset-backed (industry since 1999) securities. Albert Chan, CFA (industry since 2002) Brett S. Kozlowski, CFA (industry since 1997) Morningstar category Pursuing opportunities inside and outside the benchmark Short-Term Bond Portfolio quality Portfolio composition Lipper category l AAA 9.7% Investment-grade corporate 48.6% Short Investment Grade Debt l AA 12.6 bonds l A 22.9 Commercial MBS 15.3 Primary benchmark l Residential MBS (non-agency) 15.2 ICE BofA 1-3 Year U.S. BBB 32.0 Corporate Index l BB 1.2 Asset-backed securities (ABS) 5.6 l B 0.4 High-yield corporate bonds 0.5 Secondary benchmark l CCC and below 0.5 Net cash 14.7 ICE BofA U.S.
    [Show full text]
  • A Guide to Ultra-Short-Term Bond Funds for Cash Investors
    INVESTMENT PERSPECTIVES A guide to ultra-short-term bond funds for cash investors More than 99% of money market Cash investors have been steadily Why? Because ultra-short-term funds yielded less than 0.10% as of moving into ultra-short-term strategies use two primary levers— March 31, 2021.1 bond funds to satisfy their extending maturities and taking search for yield. additional credit risk—to add yield. This guide explains what ultra-short-term bond funds are and why they may be appropriate for both individuals and institutional cash investors as they Jeffrey Weaver, CFA seek to optimize their overall cash portfolio. In today’s low-yield environment, Senior Portfolio Manager, Head of Municipal and Short these types of funds are one place where cash investors can find high-quality Duration Fixed Income, sources of income while maintaining their primary objectives of capital WFAM Global Fixed Income preservation and liquidity. Ultra-short-term bond funds occupy a space just beyond money market funds (MMFs) in the spectrum of liquidity solutions, and Michael Rodgers many cash investors have already begun their journey to this space. According Senior Portfolio Specialist, to Morningstar, ultra-short-term bond funds held $322 billion in assets as of WFAM Global Fixed Income December 2020. Investors chose ultra-short-term bond funds for additional income As investors think about increasing returns on cash investments, it’s important to understand the primary driver of total returns is income. Income return— from yield and/or coupon payments—is and always has been the largest contributor to total return in high-quality short-duration fixed income.
    [Show full text]
  • Amundi NVIT Multi Sector Bond Fund (Formerly, NVIT Multi Sector Bond Fund)
    Amundi NVIT Multi Sector Bond Fund (formerly, NVIT Multi Sector Bond Fund) Summary Prospectus April 30, 2019 Class I Before you invest, you may want to review the Fund’s Prospectus, which contains information about the Fund and its risks. This Summary Prospectus is intended for use in connection with variable insurance contracts, and is not intended for use by other investors. The Fund’s Prospectus and Statement of Additional Information, each dated April 30, 2019 (as may be supplemented or revised), are incorporated by reference into this Summary Prospectus. For free paper or electronic copies of the Fund’s Prospectus and other information about the Fund, go to nationwide.com/mutualfundsnvit, email a requestto [email protected] or call 800-848-0920, or ask any variable insurance contract provider who offers shares of the Fund as an underlying investment option in its products. Objective The Amundi NVIT Multi Sector Bond Fund seeks to provide above average total return over a market cycle of three to five years. Fees and Expenses This table describes the fees and expenses you may pay when buying and holding shares of the Fund. Sales charges and other expenses that may be imposed by variable insurance contracts are not included. See the variable insurance contract prospectus. Class I Shares Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Management Fees 0.57% Distribution and/or Service (12b-1) Fees None Other Expenses 0.25% Total Annual Fund Operating Expenses 0.82% Example This Example is intended to help you to compare the cost of investing in the Fund with the cost of investing in other mutual funds.
    [Show full text]
  • Corporate Bond Market Dysfunction During COVID-19 and Lessons
    Hutchins Center Working Paper # 69 O c t o b e r 2 0 2 0 Corporate Bond Market Dysfunction During COVID-19 and Lessons from the Fed’s Response J. Nellie Liang* October 1, 2020 Abstract: Changes in the financial sector since the global financial crisis appear to have increased dramatically the demand for liquidity by holders of corporate bonds beyond the ability of the markets to provide it in stress events. The March market turmoil revealed the costs of liquidity mismatch in open-end bond mutual funds. The surprisingly large redemptions of investment-grade corporate bond funds added to stresses in both the corporate bond and Treasury markets. These conditions led to unprecedented Fed interventions, which significantly reduced risk spreads and improved market functioning, with much of the improvements occurring right after the initial announcement. The improved conditions allowed companies to issue bonds, which helped them to maintain employees and investment spending. The episode suggests several areas for further study and possible reforms. * J. Nellie Liang, Hutchins Center on Fiscal and Monetary Policy, Brookings Institution ([email protected]). I would like to thank Darrell Duffie, Bill English, Anil Kashyap, Donald Kohn, Patrick Parkinson, Jeremy Stein, Adi Sunderam, David Wessel, and Alex Zhou for helpful comments and insights, and Manuel Alcalá Kovalski for excellent research assistance. THIS PAPER IS ONLINE AT https://www.brookings.edu/research/corporate- bond-market-dysfunction-during-covid-19-and- lessons-from-the-feds-response/ 1. Introduction As concerns about the pandemic’s effect on economic activity in early March escalated, asset prices began to move in unusual ways—including the prices of investment-grade corporate bonds.
    [Show full text]
  • Variable Rate Debt Options: Auction Rate Securities
    Variable Rate Debt Options: Auction Rate Securities Auction Rate Securities What are Auction Rate Securities? §Long-term securities sold to short-term investors §Variable rate, priced competitively relative to other forms of short-term debt, most notably VRDB’s §Re-priced periodically, most common reset periods are weekly (7 day) or monthly (28/35 day) §Multi-modal with conversion features at issuer option §Does not require liquidity facility as the auction process provides liquidity; investors have no “put” option §Usually insured, most often by a AAA monoline bond insurer 2 Auction Rate Securities What is a Dutch Auction? §Competitive Bidding Process - among Investors who submit bids/orders to buy, sell or hold securities at desired rates §Reverse Price Concept - orders are filled beginning with the lowest bid submitted until all available securities are allocated §Clearing Bid - order at which the last available security is allocated; clearing bid becomes the reset rate for all investors for the upcoming period §Auction Rate Mechanism - can be viewed as an alternative to the Remarketing Agent function in VRDO programs 3 Auction Rate Securities § Market Size – Approximately $250 Billion Overall § Issuers - Closed-End Municipal Bond / Equity Funds - Student Loan Entities - Municipalities § Investors - Corporate Cash Managers - Institutional Investors - High Net Worth Individuals § Holding Periods - Daily, Weekly, Monthly, Flex § Dealers - Sole Managed Programs - Multiple Dealer Participation 4 Auction Rate Securities §Product Introduction
    [Show full text]
  • Doubleline DBLTX Total Return Bond Fund Update
    DoubleLine Total Return Bond Fund (DBLTX/DLTNX) May 2017 333 S. Grand Ave., 18th Floor || Los Angeles, CA 90071 || (213) 633-8200 DoubleLine Total Return Bond Fund The DoubleLine Total Return Bond Fund (DBLTX) seeks to maximize risk-adjusted returns relative to its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index. DBLTX is a Mortgage-Backed Securities (MBS) centric strategy, and by pro- spectus the fund will maintain a minimum of 50% of the portfolio in MBS and have less than 33% in below investment grade-rated securities. How is DBLTX similar to its benchmark, the Bloomberg Barclays U.S. Aggregate Index, and how does it differ? Like the Index, the strategy has approximately two-thirds government securities and about one third credit. DoubleLine ex- presses the government and credit exposure in DBLTX outside of U.S. Treasuries and traditional corporate credit. Instead, we express this exposure through Agency MBS, non-Agency MBS and other areas of structured credit. Why Mortgages? We believe we can use the various sectors of the MBS market to construct a portfolio that will outperform the Index with better risk-adjusted returns, lower volatility and drawdown over a 24-36 month period. Agency MBS: Since the DoubleLine team started investing in Agency MBS over 20 years ago, the team’s founda- tion has been in Agency MBS which has offered enough variety to produce what we view as more attractive risk/ reward profiles. Agency MBS principal is either implicitly or explicitly guaranteed by the U.S. government. Agency MBS typically offers a higher yield than Treasuries, and competitive yield depending on market envi- ronment to traditional investment grade corporate bonds.
    [Show full text]
  • What Are High-Yield Corporate Bonds?
    INVESTOR BULLETIN What Are High-yield Corporate Bonds? The SEC’s Office of Investor Education and Advocacy is a high-yield bond, it is important that you understand issuing this Investor Bulletin to educate individual investors the risks involved. about high-yield corporate bonds, also called “junk bonds.” While they generally offer a higher yield than investment-grade Default risk. Also referred to as credit risk, this is the bonds, high-yield bonds also carry a higher risk of default. risk that a company will fail to make timely interest or principal payments and default on its bond. Defaults also What is a high-yield corporate bond? can occur if the company fails to meet certain terms of its A high-yield corporate bond is a type of corporate bond debt agreement. Because high-yield bonds are typically that offers a higher rate of interest because of its higher issued by companies with higher risks of default, this risk risk of default. When companies with a greater estimated is particularly important to consider when investing in default risk issue bonds, they may be unable to obtain high-yield bonds. an investment-grade bond credit rating. As a result, they Interest rate risk. typically issue bonds with higher interest rates in order to Market interest rates have a major entice investors and compensate them for this higher risk. impact on bond investments. The price of a bond moves in the opposite direction than market interest rates—like High-yield bond issuers may be companies characterized opposing ends of a seesaw. This presents investors with as highly leveraged or those experiencing financial interest rate risk, which is common to all bonds.
    [Show full text]
  • The Case of Investment Funds in Corporate Bond Markets
    NBER WORKING PAPER SERIES FINANCIAL FRAGILITY IN THE COVID-19 CRISIS: THE CASE OF INVESTMENT FUNDS IN CORPORATE BOND MARKETS Antonio Falato Itay Goldstein Ali Hortaçsu Working Paper 27559 http://www.nber.org/papers/w27559 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 July 2020, Revised May 2021 Views expressed are those of the authors and do not necessarily represent the views of the Board, its staff, or the National Bureau of Economic Research. We thank Jaewon Choi, Valentin Haddad, Yi Li, Nellie Liang, Yiming Ma, Jeremy Stein, Annette Vissing-Jorgensen, Yao Zeng, and participants at the Brookings Webinar on "COVID-19 and the Financial System - How and Why Were Financial Markets Disrupted?", the Princeton-Stanford Conference on "Corporate Finance and the Macroeconomy under COVID-19", the Atlanta Fed Conference on "Financial Stability and the Coronavirus Pandemic," the Annual Meeting of the American Finance Association, the Darden-ICI Symposium on Mutual Funds and ETFs, and the Annual Meeting of the Midwest Finance Association, for helpful comments and discussions. Jacob Faber provided excellent research assistance. All remaining errors are ours. At least one co-author has disclosed additional relationships of potential relevance for this research. Further information is available online at http://www.nber.org/papers/w27559.ack NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2020 by Antonio Falato, Itay Goldstein, and Ali Hortaçsu. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source.
    [Show full text]
  • Amundi Funds Global Bond - A2 Usd
    AMUNDI FUNDS GLOBAL BOND - A2 USD MONTHLY REPORT 30/10/2020 BOND ■ 1. This is a bond fund. 2. Investing in this fund may expose investors to interest rate, credit, prepayment and exchange risks. The use of financial derivative instruments for hedging and efficient portfolio management purposes may lead to exposure to credit risk of the issuer. The fund may also be exposed to liquidity and developing countries risks. 3. The investment focus of the fund might give rise to increased risk over more diversified funds. 4. The value of the fund can be extremely volatile and could go down substantially within a short period of time. It is possible that your investment value could suffer substantial loss. 5. The investment decision is yours, but you should not invest in the product unless the intermediary who sells it to you has advised you that the product is suitable for you and explained why including how buying it would be consistent with your investment objective. Key information Investment objective Fund information NAV per unit : 31.28 ( USD ) To achieve a combination of income and capital growth Sub-fund launch date : 04/01/1993 (total return). Specifically, the Sub-Fund seeks to Fund size : 317.66 ( million USD ) outperform the JP Morgan Government Bond Global All Type of shares : Accumulation NAV and fund size as at : 30/10/2020 Maturities Unhedged in USD index by investing at least Management fee (p.a.) : 0.90% Fund currency : USD 67% of assets in investment-grade bonds that are either Subscription fee (max.) : 4.50% Benchmark : JP Morgan Government Bond Global issued or guaranteed by OECD governments or Switching fee (max.) : 1.00% All Maturities Unhedged in USD index supranational entities (at least 60% of assets), or issued by corporate entities.
    [Show full text]
  • Credit Spread Volatility
    KENNETH J. WINSTON Senior Risk Officer April 2018 Credit Spread Volatility Executive Summary Nurture strength of spirit to shield you in sudden misfortune. -Max Ehrmann, 1927 Some credit markets can be characterized as long peri- ods of boredom punctuated Three Desiderata by moments of sheer terror. Successful portfolio construction involves not only the selection of superior securities and investment Credit spreads, which cap- ture the higher yields that themes, but also the assessment of the ranges of outcomes of the portfolio’s exposures. The best portfolios credit-risky bonds command carefully balance risk and reward. over non-credit-risky bonds, exemplify this dynamic. An important part of assessing portfolio risk is the identification of risk factors, which are the variables that We define three desiderata will affect many or all of the securities in the portfolio. For fixed-income portfolios, some obvious risk fac- that apply to credit spread risk tors are the prevailing key rates of interest in the portfolio’s base currency, general levels of credit spreads factors and exposures: and foreign exchange rates. 1. Exposures must be stable, 2. The relationship between To estimate the range of future returns of a portfolio—either the total return, or the return relative to a movements of a risk factor and of a security affected benchmark—we need, among other things, to measure or estimate the following information: by the risk factor must be realistic, and The exposures the portfolio has to its risk factors, and 3. Risk factors vary in statisti- The likely ranges of outcomes of those risk factors.
    [Show full text]
  • City National Rochdale Government Bond Fund a Series of City National Rochdale Funds
    City National Rochdale Government Bond Fund a series of City National Rochdale Funds SUMMARY PROSPECTUS DATED JANUARY 31, 2021 Class: Ticker: Servicing Class (CNBIX) Class N (CGBAX) Before you invest, you may want to review the Fund’s Prospectus, which contains more information about the Fund and its risks. You can find the Fund’s Prospectus and other information about the Fund, including the Fund’s Statement of Additional Information and shareholder reports, online at http://www.citynationalrochdalefunds.com. You can also get this information at no cost by calling (888) 889-0799 or by sending an e-mail request to [email protected] or from your financial intermediary. The Fund’s Prospectus and Statement of Additional Information, dated January 31, 2021, as may be amended or further supplemented, and the independent registered public accounting firm’s report and financial statements in the Fund’s Annual Report to shareholders, dated September 30, 2020, are incorporated by reference into this Summary Prospectus. City National Rochdale Government Bond Fund INVESTMENT GOAL The City National Rochdale Government Bond Fund (the “Government Bond Fund” or the “Fund”) seeks to provide current income (as the primary component of a total return intermediate duration strategy) by investing primarily in U.S. Government securities. FEES AND EXPENSES OF THE FUND The table below describes the fees and expenses you may pay if you buy, hold, and sell shares of the Government Bond Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.
    [Show full text]
  • Franklin Tennessee Municipal Bond Fund Fact Sheet
    Municipals Franklin Tennessee Municipal Bond June 30, 2021 Fund Fund Fact Sheet | Share Class: Advisor Fund Description Performance The fund seeks to provide investors with as high a Growth of a $10,000 Investment (from 05/10/1994-06/30/2021) level of income exempt from federal income taxes and $40,000 Advisor Class: Tennessee personal income taxes as is consistent $34,492 with prudent investment management and the $32,500 Total Value of preservation of shareholders’ capital. $25,000 Investment, Including Fund Overview Reinvestment of $17,500 Dividends and Capital Total Net Assets [All Share Classes] $197 million Gains Fund Inception Date 5/10/1994 $10,000 Dividend Frequency Monthly, on or near the last Value of Initial $2,500 business day Investment: $11,190 Number of Holdings 77 05/94 02/01 11/07 08/14 06/21 Share Class Information NASDAQ Total Returns % (as of 6/30/2021) Share Class CUSIP Symbol CUMULATIVE AVERAGE ANNUAL Advisor 354 025 884 FTMZX Since Inception A 354 025 827 FTQMX Share Class YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs Inception Date R6 354 025 843 FTMQX Advisor 1.65 4.22 4.23 2.35 3.39 4.67 5/10/1994 Fund Management Calendar Year Total Returns % Years with Years of Share Class 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 Firm Experience Advisor 4.04 6.05 0.62 2.66 1.08 1.43 9.60 -5.42 6.94 11.35 John Wiley 31 31 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 Chris Sperry, CFA 25 25 Advisor 0.67 13.51 -3.59 2.65 4.25 3.27 4.89 5.50 9.20 4.39 John Bonelli 10 11 Performance data represents past performance, which does not guarantee future results.
    [Show full text]