Bancorp Fund Services, LLC, or both, will employ reasonable procedures to determine that telephone instructions are genuine. Bancorp Fund Services, LLC, nor their respective affiliates will be liable for complying with telephone instructions they reasonably believe to be genuine or for any loss, damage, cost or expenses in acting on such telephone instructions and you will be required to bear the risk of any such loss. The Company reserves the right to suspend the telephone redemption privileges with respect to your account if the name(s) or the address on the account has been changed within the previous 30 days. The determination of net asset value for a particular day is applicable to all applications for the purchase of shares, as well as all requests for the redemption of shares, received before the close of trading on the NYSE on that day. The NAV takes into account the expenses and fees of each Fund, including management, administration, and distribution fees, which are accrued daily. The NAV is determined by dividing the value of a Funds securities, cash and other assets, minus all expenses and liabilities, by the number of shares outstanding (asset-liabilities/# of shares = NAV). The NYSE is closed on weekends and most national holidays. (EST) on each day the New York Stock Exchange (NYSE) is open for business and will be computed by determining the aggregate market value of all assets of the Fund less its liabilities divided by the total number of shares outstanding. The NAV of each Fund is determined at 4:00 p.m. Shares of each Fund are sold at net asset value per share (NAV) plus any applicable sales charge. Generally, the lower the rating of a security, the higher its degree of credit risk. (Please see the Statement of Additional Information for more disclosure concerning the sensitivity to changes in interest rates.) The Bond Fund is also subject to credit risk, which is the possibility that an issuer of a security (or a counterparty to a derivative contract) will default or become unable to meet its obligation. A small investment in certain derivatives can have a potentially large impact on the Bond Funds performance. Some derivatives such as stripped mortgage-backed securities, may move in the same direction as interest rates. These types of securities can be highly volatile and sensitive to changes in their underlying instrument. Certain mortgage-backed and asset-backed securities and derivative instruments in which the Bond Fund may invest may be particularly sensitive to changes in interest rates. This risk is greater for long-term securities than it is for short-term securities. As interest rates rise, market value tends to decrease. Generally, the value of fixed income securities will change inversely with changes in market interest rates. Bond values fluctuate based on changes in interest rates, market conditions, investor confidence and announcements of economic, political or financial information. Like other fixed income funds, the Bond Fund is subject to market risk.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |