*This Fund was rated, based on its risk-adjusted returns, 5 stars for 3 years and Overall (load waived), 3 stars for 3 years and Overall (load) out of 215 and 215 Bank Loan funds, respectively. The Overall Morningstar Rating for a Fund is derived from a weighted average of the performance figures associated with its three-, five-and ten year (if applicable) Morningstar Rating metrics. The overall rating includes effects of sales charges, loads and redemption fees, while the load waived rating does not. Load-waived rating should only be considered by investors who are not subject to a front-end sales charge. Load-waived A share star ratings are intended for those investors who have access to such purchase terms. Please read a current prospectus for more information.
For each Fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance placing more emphasis on downward variations and rewarding consistent performance. With load ratings include the effect of sales charges, loads and redemption fees. Load waived ratings exclude sales charges, loads and redemption fees, and are only applicable to investors not subject to sales charges. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share classis counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Ratings for other share classes may differ due to different performance characteristic.
©2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary of Morningstar and /or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar, nor its content providers, are responsible for any damages or losses arising from any use of its information. Past performance is no guarantee of future results.
Performance displayed represents past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. Current performance may be lower or higher than the performance data quoted. Returns for performance under one year are cumulative, not annualized. Class A-Share with load performance reflects maximum sales charges or contingent deferred sales charges (CDSC) as applicable. Class A-shares have a maximum sales charge of 3.00%. Effective 10/1/2015 the A-Class maximum front-end sales charge was changed from 4.75% to 3.00%. For performance periods that begin prior to 10/1/2015, a 4.75% load was used and for performance periods that begin after 10/1/2015, a 3.00% load was used. Class C-shares have a maximum CDSC of 1% for shares redeemed within 12 months of purchase. For additional information, see the fund's prospectus.
Data is subject to change on a daily basis. Partial year returns are cumulative, not annualized. Returns reflect the reinvestment of dividends. The securities mentioned are provided for informational purposes only and should not be deemed as a recommendation to buy or sell.
Diversification neither assures a profit nor eliminates the risk of experiencing investment losses.
The annualized rate an investor would receive if the most recent fund distribution stayed the same going forward. This rate does not represent the total return of a fund.
SEC 30-day yield is based on net investment income for the most recent 30-day period, is annualized and is divided by the offering price at month-end.
This Fund may not be suitable for all investors.
• Investments in floating rate senior secured syndicated bank loans and other floating rate securities involve special types of risks, including credit rate risk, interest rate risk, liquidity risk and prepayment risk. • The Fund’s market value will change in response to interest rate changes and market conditions among other factors. In general, bond prices rise when interest rates fall and vice versa. • The Fund’s exposure to high yield securities may subject the Fund to greater volatility. • When market conditions are deemed appropriate, the Fund will leverage to the full extent permitted by its investment policies and restrictions and applicable law. Leveraging will exaggerate the effect on net asset value of any increase or decrease in the market value of the Fund’s portfolio. • The Fund may invest in derivative instruments, which may be more volatile and less liquid, increasing the risk of loss when compared to traditional securities. Certain of the derivative instruments are also subject to the risks of counterparty default and adverse tax treatment. • Instruments and strategies (such as borrowing transactions and reverse repurchase agreements) may provide leveraged exposure to a particular investment, which will magnify any gains or losses on those investments. • Investments in reverse repurchase agreements and synthetic instruments (such as synthetic collateralized debt obligations) expose the Fund to the many of the same risks as investments in derivatives. • The Fund’s investments in other investment vehicles subject the Fund to those risks and expenses affecting the investment vehicle. • The Fund’s investments in foreign securities carry additional risks when compared to U.S. securities, due to the impact of diplomatic, political or economic developments in the country in question (investments in emerging markets securities are generally subject to an even greater level of risks). • The Fund’s investments in real estate securities subject the Fund to the same risks as direct investments in real estate, which is particularly sensitive to economic downturns. • The Fund’s investments in restricted securities may involve financial and liquidity risk. • The Fund is subject to active trading risks that may increase volatility and impact its ability to achieve its investment objective. • You may have a gain or loss when you sell your shares. • It is important to note that the Fund is not guaranteed by the U.S. government. • Please read the prospectus for more detailed information regarding these and other risks.
+ The Advisor has contractually agreed to waive fees and expenses through February 1, 2017 to limit the ordinary operating expenses of the Fund. The Fund may have net expenses greater than the expense cap as a result of any acquired fund fees and expenses or other expenses that are excluded from the calculation. Total annual operating expenses vary by share class. See the prospectus for information on the fees and expenses that apply to each share class.