Address And Details

840 Newport Center Dr., Ste. 100 , Newport Beach, CA 92660
Fund Manager David Hammer
Manager Tenure 5 Years 3 Months

Strategy And Objective

The Fund seeks maximum tax exempt income.The Fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in debt securities whose interest is,in the opinion of bond counsel for the issuer at the time of issuance,exempt from federal income tax ("Municipal Bonds").Municipal Bonds generally are issued by or on behalf of states and local governments and their agencies,authorities and other instrumentalities.The Fund may invest in Fixed Income Instruments which include bonds,debt securities and other similar instruments issued by various U.S.and non-U.S.public- or private-sector entities.The Fund may invest without limitation in "private activity" bonds whose interest is a tax-preference item for purposes of the federal alternative minimum tax ("AMT").For shareholders subject to the AMT,distributions derived from "private activity" bonds must be included in their AMT calculations,and as such a portion of the Fund's distribution may be subject to federal income tax.The Fund may invest more than 25% of its total assets in bonds of issuers in California and New York.To the extent that the Fund concentrates its investments in California or New York,it will be subject to California or New York State-Specific Risk.The Fund may also invest 25% or more of its total assets in Municipal Bonds that finance education,health care,housing,transportation,utilities and other similar projects,and 25% or more of its total assets in industrial development bonds.The Fund may invest the remainder of its net assets in other types of Fixed Income Instruments."Fixed Income Instruments"include bonds, debt securities and other similar instruments issued by various U.S.and non-U.S.public- or private-sector entities.The average portfolio duration of this Fund normally varies within (negative) 2 years to positive 4 years of the portfolio duration of the securities comprising the Bloomberg Barclays 1-15 Year Municipal Bond Index,as calculated by Pacific Investment Management Company LLC ("PIMCO"),which as of May 31, 2019 was4.93 years.Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates.The longer a security's duration,the more sensitive it will be to changes in interest rates.The portfolio manager focuses on bonds with the potential to offer attractive current income,typically looking for bonds that can provide consistently attractive current yields or that are trading at competitive market prices. Capital appreciation,if any,generally arises from decreases in interest rates or improving credit fundamentals for a particular state, municipality or issuer.

Net Asset Value

as of 5:14 PM ET 09/07/2021


  • 1 Week
  • -0.09%
  • 1 Month
  • -0.45%
  • 3 Months
  • -0.09%
  • 1 Yr Return
  • +1.09%
  • 5 Yr Return
  • +2.59%

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 94.15%
Cash 9.26%
Stocks 0.00%
Preferred 0.00%
Convertible 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Other -3.41%
Total Net Assets 93.72 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -0.31 -0.34 n/a
Beta 0.92 0.91 n/a
R Squared 0.97 0.96 n/a
Std Deviation 3.74 3.64 n/a
Sharpe Ratio 0.91 0.48 n/a

Purchase Information

as of 5:21 PM ET 08/31/2021
Minimum Initial $1000000
Minimum Additional $0
Minimum Initial IRA $0


Timeframe Average Annual Current Performance Monthly As Of 08/31/2021 Average Annual Current Performance Quarterly As Of 05/31/2021 Avg Annual Current Performance Monthly As Of 08/31/2021 Avg Annual Current Performance Quarterly As Of 05/31/2021
1 Year
  • +3.01%
  • +5.16%
+3.01% +5.16%
3 Year
  • +4.49%
  • +4.56%
+4.49% +4.56%
10 Year
  • n/a
  • n/a
n/a n/a
Life Of Fund
  • +3.34%
  • +3.38%
+3.34% +3.38%

Top 10 Holdings

Symbol Company Name % Of Assets

Recent Articles from TheStreet


As Demand for Corn Grows, New Key Data Points to Watch

What data should corn market watchers seek out in a tight market? A new volatility gauge offers some answers.

Pfizer vaccine Lead

Pfizer Says Its COVID Vaccine Safe For Children 5 to 11 In Lower Doses

"These trial results provide a strong foundation for seeking authorization of our vaccine for children 5 to 11 years old, and we plan to submit them to the FDA and other regulators with urgency," said Pfizer CEO Albert Bourla.

Wall Street NYSE Lead

Dow Futures Slump As China Evergrande, Growth Worries Rattle Global Stocks

The potential collapse of indebted property developer China Evergrande has added to market angst ahead of what could be a crucial meeting of the Federal Reserve later this week.

Wall Street Lead

Stocks Slump, Evergrande Plunges, Canadians Vote, Ted Lasso Charms - 5 Things You Must Know

Stock futures slump on China, growth risk; China Evergrande plunges as bond payments loom; FDA panel awaits more data on COVID; Canadians got to the polls and Ted Lasso and The Crown sweep top Emmy awards.

Elon Musk Starlink Lead

SpaceX CEO Elon Musk Says Starlink Exits Beta Next Month

SpaceX CEO Elon Musk says the company’s Starlink high-speed internet service will come out of beta testing next month.

Wall Street Lead

Cramer: Using Short-Term Moves to Tweak Your Portfolio

Whether the news is good or bad, you can take advantage of it if you understand why you're involved in a stock in the first place.

10. Chemical & petrochemical pharma sh

Jensen: These Three Healthcare Stocks Are Worth a Look

Just because we're in the market's worst month of the year doesn't mean there aren't good investments available.

18. Apple Inc. (AAPL)

Parus Files Second Patent Infringement Lawsuit Against Apple

Parus files a second patent infringement lawsuit against Apple, alleging it infringed on its patents for voice-browsing and device control technology.

12. Software engineer

Business Software Provider AvidXchange Files for IPO

Accounts payable software provider AvidXchange on Friday filed for a initial public offering.

9/11 Lead

Cramer’s Recollections of 9/11

A beautiful day in New York City, Then the Unimaginable