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Address And Details

1001 Liberty Ave. , Pittsburgh, PA 15222
Fund Manager Donald Ellenberger
Manager Tenure 5 Years 9 Months

Strategy And Objective

The Fund's investment objective is to seek a high level of current income.The Fund allocates the portfolio of investments among the following three categories of the fixed-income market: domestic investment-grade (including, but not limited to, U.S. government, asset-backed, mortgage-backed (MBS), corporate and municipal), domestic non investment-grade (including, but not limited to,corporate debt issues (also known as junk bonds and leveraged loans), MBS and municipal securities) and foreign investments (both investment-grade and noninvestment-grade, including, but not limited to, government and corporate investments traded in both emerging and developed markets, and trade finance).Based upon historical returns, the Fund's investment adviser (the Adviser) expects the three categories of investments to have different returns and risks under similar market conditions. The Adviser relies on the differences in the expected performance of each category to manage risks by allocating the Fund's portfolio among the three categories. The Adviser seeks to enhance the Fund's performance by allocating more of its portfolio to the category that the Adviser expects to offer the best balance between risk and return. While the Fund's portfolio usually includes securities from all three categories, the Fund limits the amount that it may invest in a single category up to 60% of its assets, except for the domestic investment-grade category, in which the Fund may invest up to 75% of its assets.In addition, when the Adviser considers the risk/return prospects of equity securities to be attractive, the Fund may also opportunistically invest up to 20% of its assets in equity securities of all market capitalizations, including small capitalization companies. These equity securities may include common stocks, preferred stocks, warrants, convertible securities, and pooled investment vehicles such as exchange-traded funds (ETFs) or other investment companies. Pooled vehicles maybe utilized in order to gain broad exposure to the equity market.When selecting investments for the Fund, the Fund can invest in securities directly or in other investment companies, including, for example, funds advised by the Adviser or its affiliates ( underlying Funds ). At times, the Fund's investment in Underlying Funds may be a substantial portion of the Fund's portfolio. The Fund may also invest in derivative contracts or hybrid instruments (such as, for example, futures contracts, option contracts, currency derivatives and swap contracts) to implement its investment strategies as more fully described herein. 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 Adviser may invest in bonds of any maturity.

Net Asset Value

as of 5:59 PM ET 01/18/2022


  • 1 Week
  • -1.18%
  • 1 Month
  • -1.71%
  • 3 Months
  • -2.96%
  • 1 Yr Return
  • -1.92%
  • 5 Yr Return
  • +2.91%

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
Other 85.51%
Bonds 11.97%
Stocks 2.31%
Cash 0.21%
Preferred 0.00%
Convertible 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 817.13 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha 4.32 2.81 2.74
Beta 0.73 0.63 0.67
R Squared 0.08 0.08 0.11
Std Deviation 8.34 6.69 5.91
Sharpe Ratio 0.88 0.66 n/a

Purchase Information

as of 5:34 PM ET 01/14/2022
Minimum Initial $1000000
Minimum Additional $0
Minimum Initial IRA $0


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
  • +3.96%
  • +3.96%
+3.96% +3.96%
3 Year
  • +7.85%
  • +7.85%
+7.85% +7.85%
10 Year
  • +4.78%
  • +4.78%
+4.78% +4.78%
Life Of Fund
  • +5.64%
  • +5.64%
+5.64% +5.64%

Top 10 Holdings

Symbol Company Name % Of Assets


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