Short Term Bond Fund
Asset Class
Bond
Morningstar Category
Short Term Bond
Fund Benchmark
ICE BofA 1-3 Yr Corp. Govt. & Mortgage
Overview
Investment Objective
The Fund seeks income consistent with the preservation of capital.
Fund Description
The Fund is a portfolio that invests in debt securities of various types. The Fund is generally appropriate for conservative, income-oriented investors with an aim to maintain principal stability.
Management Team
Portfolio Manager
Portfolio Manager
Managing Director
President & CIO
Why Invest
Conservative fixed income management
U.S.-dollar denominated debt only
Constructed to reduce possible impact of rate movements
Fund Information
Fund Share Class Data
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Class A | |
---|---|
Assets | $6,863,611 |
NAV | $3.89 |
YTD Performance | 1.92% |
As of | 04/01/2025 |
Class A | Class I | Class L | |
---|---|---|---|
Assets | $6,863,611 | $90,096,035 | $89,409,341 |
NAV | $3.89 | $4.18 | $3.49 |
YTD Performance | 1.92% | 1.78% | 1.66% |
As of | 04/01/2025 | 04/01/2025 | 04/01/2025 |
Class A | Class I | Class L | ||
---|---|---|---|---|
13 | Inception | 07/02/1997 | 05/31/2013 | 07/01/2004 |
14 | Ticker | APIMX | APIBX | AFMMX |
15 | CUSIP | 028837-80-5 | 028837-78-9 | 028837-83-9 |
16 | Minimum Investment | $1,000 | $1,000,000 | $1,000 |
17 | Distributions | Monthly | Monthly | Monthly |
18 | Overall Morningstar Rating | ★★★ | ★★★ | ★★ |
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-800-544-6060.
*NAV: Net asset value is the value of an entity’s assets minus the value of its liabilities, often in relation to open-end, mutual funds, hedge funds, and venture capital funds. Shares of such funds registered with the U.S. Securities and Exchange Commission are usually bought and redeemed at their net asset value.
**YTD Performance: Year-to-date return refers to the profit (or loss) generated by an investment during the year. YTD return is calculated by subtracting the starting value from the current value and dividing it by the starting value. The figure can be multiplied by 100 to convert it into a percentage.
The minimum initial investment in the Fund’s Class A and Class L Shares is $1,000, and the minimum for additional investments is $100. The minimum initial investment in the Fund’s Institutional Class Shares is $1,000,000, and the minimum for additional investments is $100,000. There are no minimums for purchases or exchanges through employer-sponsored retirement plans.
Overall Morningstar rating based on risk adjusted returns out of 522 Short-Term Bond funds as of 9/30/2024.
Read important information about results and other investment disclosures below.
Yields & Expenses
As of Date | |
---|---|
1 | As of 02/28/2025 |
Class A | Class I | Class L | ||
---|---|---|---|---|
7 | SEC 30-Day Yield (Subsidized) | 3.94% | 4.03% | 3.39% |
8 | SEC 30-Day Yield (Unsubsidized)* | 3.75% | 3.84% | 3.20% |
15 | Net Expense Ratio | 0.80% | 0.80% | 1.45% |
16 | Gross Expense Ratio | 0.96% | 0.96% | 1.61% |
* Unsubsidized Yield reflects income earned during a 30-day period, after the deduction of the fund’s gross expenses.
Fees - Class A
Investment | Offering Price | |
---|---|---|
7 | Less than $100K | 2.25% |
8 | $100K but less than $250K | 1.75% |
9 | $250K and above* | 0.00% |
* Finder’s Fee. See Prospectus or call the Sales Desk.
Fees - Class I
- No Load Share Class
Fees - Class L
- No CDSC
- No Front or Back End Sales Charges
Performance
Class A inception: 07/02/1997
Class I inception: 05/31/2013
Class L inception: 07/01/2004
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1MO | |
---|---|
Class A - Load | -1.23% |
Class A - No Load | 1.06% |
Class I | 0.99% |
Class L | 0.78% |
Fund Benchmark | 0.70% |
As of | 2/28/2025 |
1MO | 3MO | 6MO | YTD | 1YR | 3YR | 5YR | 10YR | Since Inception | |
---|---|---|---|---|---|---|---|---|---|
Class A - Load | -1.23% | -0.96% | -0.16% | -0.73% | 3.48% | 1.96% | 1.32% | 1.57% | 3.12% |
Class A - No Load | 1.06% | 1.35% | 2.16% | 1.59% | 5.94% | 2.75% | 1.77% | 2.18% | 3.12% |
Class I | 0.99% | 1.25% | 2.26% | 1.48% | 6.04% | 2.73% | 1.70% | 2.17% | 2.09% |
Class L | 0.78% | 1.03% | 1.77% | 1.36% | 5.00% | 1.98% | 1.01% | 1.31% | 1.89% |
Fund Benchmark | 0.70% | 1.39% | 2.02% | 1.16% | 5.60% | 2.51% | 1.57% | 1.73% | 3.12% |
As of | 2/28/2025 | 2/28/2025 | 2/28/2025 | 2/28/2025 | 2/28/2025 | 2/28/2025 | 2/28/2025 | 2/28/2025 | 2/28/2025 |
This fund experienced a significant change in its investment strategy and/or legal structure as of January 1, 2016, finalized on December 20, 2016.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-800-544-6060.
The 3YR, 5YR and 10YR returns are annualized. SINCE INCEPTION returns are annualized when the time period from the Fund’s inception to the “As of” date is greater than 12 months.
The Fund Benchmark's SINCE INCEPTION returns are based on the oldest share class' inception date.
Read important information about results and other investment disclosures below.
1MO | |
---|---|
Class A - Load | -2.51% |
Class A - No Load | -0.24% |
Class I | -0.22% |
Class L | -0.32% |
Fund Benchmark | 0.23% |
As of | 12/31/2024 |
3MO | 6MO | YTD | 1YR | 3YR | 5YR | 10YR | Since Inception | |
---|---|---|---|---|---|---|---|---|
Class A - Load | -2.46% | 0.08% | 2.06% | 2.06% | 1.00% | 1.27% | 1.61% | 3.08% |
Class A - No Load | -0.20% | 2.44% | 4.48% | 4.48% | 1.77% | 1.73% | 2.21% | 3.08% |
Class I | -0.19% | 2.77% | 4.68% | 4.68% | 1.81% | 1.71% | 2.22% | 1.99% |
Class L | -0.39% | 2.08% | 4.00% | 4.00% | 1.10% | 1.00% | 1.35% | 1.84% |
Fund Benchmark | 0.02% | 2.96% | 4.47% | 4.47% | 1.71% | 1.61% | 1.65% | 3.10% |
As of | 12/31/2024 | 12/31/2024 | 12/31/2024 | 12/31/2024 | 12/31/2024 | 12/31/2024 | 12/31/2024 | 12/31/2024 |
This fund experienced a significant change in its investment strategy and/or legal structure as of January 1, 2016, finalized on December 20, 2016.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-800-544-6060.
The 3YR, 5YR and 10YR returns are annualized. SINCE INCEPTION returns are annualized when the time period from the Fund’s inception to the “As of” date is greater than 12 months.
The Fund Benchmark's SINCE INCEPTION returns are based on the oldest share class' inception date.
Read important information about results and other investment disclosures below.
2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | ||
---|---|---|---|---|---|---|---|---|---|
2 | Class A* | 5.27% | 4.80% | 0.37% | 5.36% | 3.11% | 0.24% | -4.92% | 6.09% |
3 | Class I | 5.25% | 4.82% | 0.59% | 5.27% | 2.92% | 0.22% | -5.08% | 6.21% |
4 | Class L | 4.28% | 3.78% | -0.56% | 4.31% | 2.11% | -0.37% | -5.49% | 5.13% |
5 | Fund Benchmark | 1.27% | 0.86% | 1.63% | 4.10% | 3.26% | -0.68% | -3.81% | 4.63% |
*Calendar year performance is not net of any applicable sales charge.
This fund experienced a significant change in its investment strategy and/or legal structure as of January 1, 2016, finalized on December 20, 2016.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-800-544-6060.
Read important information about results and other investment disclosures below.
Holdings
Top 10 Portfolio Holdings
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As of |
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3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
Name | Description | Weight |
---|---|---|
United States Treasury Note/Bond | U.S. TREASURY OBLIGATIONS - U.S. GOVERNMENT & AGENCIES | 1.64 |
Caterpillar Financial Services Corp | INDUSTRIALS - CORPORATE BONDS | 1.62 |
Huntington Conservative Deposit Account | BANKS SAVINGS-DEPOSIT ACCOUNT - SHORT TERM INVESTMENTS - OTHER | 1.52 |
Freddie Mac Pool | MBS PASSTHROUGH - U.S. GOVERNMENT & AGENCIES | 1.19 |
McDonald's Corp. | CONSUMER DISCRETIONARY - CORPORATE BONDS | 1.10 |
NSTAR Electric Co. | UTILITIES - CORPORATE BONDS | 1.09 |
Oracle Corp. | TECHNOLOGY - CORPORATE BONDS | 1.09 |
Federal Home Loan Banks | AGENCY - U.S. GOVERNMENT & AGENCIES | 1.08 |
Federal Farm Credit Banks Funding Corp | AGENCY - U.S. GOVERNMENT & AGENCIES | 1.08 |
Federal Farm Credit Banks Funding Corp. | AGENCY - U.S. GOVERNMENT & AGENCIES | 1.08 |
As of |
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3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
3/31/2025 |
Name | Description | Weight |
---|---|---|
United States Treasury Note/Bond | U.S. TREASURY OBLIGATIONS - U.S. GOVERNMENT & AGENCIES | 1.64 |
Caterpillar Financial Services Corp | INDUSTRIALS - CORPORATE BONDS | 1.62 |
Huntington Conservative Deposit Account | BANKS SAVINGS-DEPOSIT ACCOUNT - SHORT TERM INVESTMENTS - OTHER | 1.52 |
Freddie Mac Pool | MBS PASSTHROUGH - U.S. GOVERNMENT & AGENCIES | 1.19 |
McDonald's Corp. | CONSUMER DISCRETIONARY - CORPORATE BONDS | 1.10 |
NSTAR Electric Co. | UTILITIES - CORPORATE BONDS | 1.09 |
Oracle Corp. | TECHNOLOGY - CORPORATE BONDS | 1.09 |
Federal Home Loan Banks | AGENCY - U.S. GOVERNMENT & AGENCIES | 1.08 |
Federal Farm Credit Banks Funding Corp | AGENCY - U.S. GOVERNMENT & AGENCIES | 1.08 |
Federal Farm Credit Banks Funding Corp. | AGENCY - U.S. GOVERNMENT & AGENCIES | 1.08 |
Holdings subject to change. Current and future holdings subject to risk.
Distributions
Literature
Commentary
- Short Term Bond Fund Commentary - April 2024on April 24, 2024
Macro Update March was another good month for risk as equities rallied, credit spreads tightened, […]
- Short Term Bond Fund Commentary - March 2024on March 27, 2024
Macro Update February brought about strong returns for the riskier asset classes, while safer […]
- Short Term Bond Fund Commentary - February 2024on February 21, 2024
Macro Update January was a mixed-performance month that nonetheless featured its share of positive […]