(as of 11/19/2009)
| 10.82 |
0.02 |
| POP |
Change ($) |
| 11.36 |
0.02 |
(as of 11/19/2009)
| Inception: |
1/16/2001 |
| Ticker: |
HIXZX |
| CUSIP: |
92828T798 |
| Fund No.: |
1756 |
| Net Assets by Fund: |
$78,994,919 |
| Net Assets by Class: |
$19,841,733 |
(as of 10/30/2009)
| Distribution Yield (at NAV) |
3.79% |
| SEC Yield |
3.90% |
| SEC Yield (gross) |
3.81% |
| Distributions Current Month |
$0.034128 |
| Distributions YTD |
$0.333376 |
(October 2009)
| Ex-Date |
10/30/2009 |
| Income |
$0.034128 |
| STCG |
$0.000000 |
| LTCG |
$0.000000 |
| Reinvest NAV |
$10.81 |
|
 |
The fund seeks to generate high current income exempt from federal income tax by investing primarily in intermediate-term municipal securities. The fund employs an interest rate strategy to help manage the downside risk of rate movements on the portfolio. This is backed by extensive credit analysis to help maintain a high quality portfolio. The subadviser, Harris Investment Management, Inc. manages money according to a long-standing tradition that combines discipline, focus, knowledge and state-of-the-art informational resources.
A portion of income may be subject to some state and/or local taxes and, for certain investors, a portion may be subject to the federal alternative minimum tax. As interest rates rise, existing bond prices fall and can cause the value of an investment in the Fund to decline. Changes in interest rates will affect the value of longer-term fixed income securities more than shorter-term securities. Investing in municipal bonds involves market risk and credit risk.
POP (Public Offering Price) performance reflects the deduction of the maximum sales charge of 4.75%. A contingent deferred sales charge of 1% may apply on certain redemptions made within one year following purchases on which a finder's fee has been paid.
Fund class operating expenses are 0.85% and gross operating expenses are 0.90%.
Operating expenses reflect a voluntary expense reimbursement, which may be discontinued at any time.
|
 |
(as of 9/30/2009)
| Jefferson County Limited Obligation, 5.25%, 1/1/2017 |
6.82 |
| County of Franklin, American Chemical Society Project Development, 5.50%, 10/1/2012 |
6.29 |
| Puerto Rico Sales Tax Financing Corp., 6.13%, 8/1/2029 |
5.71 |
| State of Wisconsin, 6.00%, 5/1/2033 |
4.76 |
| City of Detroit Sewer Disposal, 7.50%, 7/1/2033 |
4.29 |
| Educational Facilities Authority, 5.25%, 7/1/2022 |
4.29 |
| University of Colorado, 5.63%, 6/1/2022 |
4.00 |
| State Drinking Water Finance Authority, 5.00%, 8/15/2014 |
3.99 |
| State Economic Development Authority, 5.25%, 3/1/2021 |
3.93 |
| Salt Verde Financial Corp., 5.25%, 12/1/2020 |
3.30 |
(as of 9/30/2009)
| Municipals |
97.01 |
| Cash |
2.99 |
(as of 9/30/2009)
| R2 |
0.75 |
1.00 |
| Beta |
1.22 |
1.00 |
| Alpha |
-1.69 |
1.00 |
| Std Dev |
6.66 |
4.72 |
Index: Barclays Capital 3-15 Yr Blend (2-17) Municipal Bond Index
(as of 9/30/2009)
| Duration |
5.00 years |
| Avg Credit Quality |
AA- |
|