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Address And Details

1001 Liberty Ave. , Pittsburgh, PA 15222
Fund Manager Randall S. Bauer
Manager Tenure 23 Years 3 Months

Strategy And Objective

The Fund's investment objective is to provide total return consistent with current income. The Fund invests primarily (that is, more than 50%) in investment-grade, fixed-income securities, including but not limited to asset-backed securities and corporate debt securities, but may invest up to 35% of its assets in noninvestment-grade, fixed-income securities. The Fund's investment adviser (the Adviser) seeks to enhance the Fund's performance by allocating relatively more of its portfolio to the sector that the Adviser expects to offer the best balance between total return and risk. The Fund may invest in hybrid instruments and derivative contracts to implement its investment strategies as more fully described below. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy (as described below) and are calculated at market value. The Fund may also use Collateralized Mortgage Obligations (CMOs) for hedging purposes. Although the value of the Fund's Shares will fluctuate, the Adviser actively manages the Fund's portfolio seeking to manage the magnitude of fluctuation by limiting the Fund's dollar-weighted average effective duration to one year or less. Duration measures the price sensitivity of a fixed-income security to changes in interest rates. Under normal market conditions, the Fund's dollar-weighted average effective maturity is expected to be 18 months or less. Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (Ginnie Mae). Finally, the Fund may invest in government securities that have no explicit financial support, but that are regarded as having implied support because the federal government sponsors their activities. The Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in fixed-income investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would enable the Fund to normally invest less than 80% of its net assets (plus the amount of any borrowings for investment purposes) in fixed-income investments.

Net Asset Value

as of 5:26 PM ET 01/18/2022

Performance

  • 1 Week
  • n/a
  • 1 Month
  • -0.22%
  • 3 Months
  • -0.54%
  • 1 Yr Return
  • -0.76%
  • 5 Yr Return
  • +0.55%

Equity Sector Breakdown

ConsumerDurables n/a
Energy n/a
Finance n/a
Health n/a
IndustrialCyclical n/a
NonDurables n/a
RetailTrade n/a
Services n/a
Technology n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Bonds 86.88%
Cash 15.85%
Stocks 0.00%
Preferred 0.00%
Convertible 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Other -2.72%
Total Net Assets 16.16 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha 0.03 0.10 0.26
Beta 0.27 0.21 0.16
R Squared 0.13 0.10 0.11
Std Deviation 2.46 1.92 1.41
Sharpe Ratio 0.45 0.32 n/a

Purchase Information

as of 5:32 PM ET 12/29/2021
Minimum Initial $1000000
Minimum Additional $0
Minimum Initial IRA $0

Performance

Timeframe Average Annual Current Performance Monthly As Of 12/31/2021 Average Annual Current Performance Quarterly As Of 12/31/2021 Avg Annual Current Performance Monthly As Of 12/31/2021 Avg Annual Current Performance Quarterly As Of 12/31/2021
1 Year
  • +0.14%
  • +0.14%
+0.14% +0.14%
3 Year
  • +1.90%
  • +1.90%
+1.90% +1.90%
10 Year
  • +1.24%
  • +1.24%
+1.24% +1.24%
Life Of Fund
  • +2.54%
  • +2.54%
+2.54% +2.54%

Top 10 Holdings

Symbol Company Name % Of Assets
n/a

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