Target Style


Fund Objective:

Seeks total return (including capital appreciation and current income) by employing a “buy and hold” strategy involving the annual selection of up to 30 high dividend yielding common stocks from the Dow Jones Industrial Average (DJIA) and broader market.

Fund Highlights:

  • Portfolio consists of 30 holdings, all of which have historically paid above average dividends.
  • Stock selection is based on a quantitative rules-based value strategy.
  • Annual portfolio selection and reconstitution may help minimize portfolio turnover and maximize tax efficiency.

 

The S&P 500 Index is a broad-based, market-cap weighted index of 500 stocks. Please note an investor cannot invest directly in an index.

Performance data quoted represents past performance and is not a guarantee of future results. The data assumes reinvestment of all distributions at net asset value. Maximum sales charge (Class A): 5.75%. The Fund’s daily net asset value is not guaranteed and shares are not insured by the FDIC, the Federal Reserve Board or any other agency. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be higher or lower than the original cost. Current performance may be higher or lower than that shown.  

$10,000 initial investment in Class A from Fund inception through the report date, with all income dividends and capital gains reinvested.  Includes a maximum 5.75% sales charge. This chart is hypothetical and is for illustrative purposes only.

Focused funds are less diversified than typical mutual funds; therefore the performance of each holding in a focused fund has a greater impact upon the overall portfolio, which increases risk.

The Fund employs a Disciplined Strategy and will not deviate from its strategy (except to the extent necessary to comply with federal tax laws or other applicable laws). Because the Fund will not use certain techniques available to other mutual funds to reduce stock market exposure (e.g., derivatives), the Fund may be more susceptible to general market declines than other mutual funds.

Stocks of small-cap and mid-cap companies are generally more volatile than and not as readily marketable as those of larger companies, and may have less resources and a greater risk of business failure than do large companies.

The Dow Jones Industrial Average is the most widely used indicator of the overall condition of the stock market, a price-weighted average of 30 actively traded blue chip stocks, primarily industrials.

There is no guarantee a fund will meet its objective.

The style and risk measures illustrated above are broad-based, relative targets for the Fund. There can be no assurances that the Fund exactly exhibits these categorizations at any given time.

Standard Deviation is a measure of the volatility that an investment experiences over time. The higher the standard deviation, the greater the performance swings of the investment. The Sharpe Ratio uses a fund’s standard deviation and its excess return (the difference between the fund’s return and the risk-free return of 90-day Treasury Bills) to determine reward per unit of risk. Beta is a measure of a fund’s sensitivity to market movements. A portfolio with a beta greater than 1 is more volatile than the market, and a portfolio with a beta less than 1 is less volatile than the market. R-Squared reflects the percentage of a fund’s movements that are explained by movements in its benchmark index, showing the degree of correlation between the fund and the benchmark. Alpha is a measure of performance on a risk adjusted basis of a mutual fund and compares its risk adjusted performance to a benchmark index. A positive alpha of 1.0% means the fund has outperformed its benchmark index by 1% and a negative alpha of -1.0% would indicate an underperformance of 1%.

Price/Earnings Ratio measures a company’s current share price compared to its per-share earnings. Price/Book Ratio compares a company’s book value to its current market price. Book value denotes the portion of equity held by shareholders.