All funds must have a track record of at least one year. The prices of individual stocks generally do not all move in the same direction at the same time. A 30% subsidized LIHTC, also referred to as a 4% LIHTC, is typically used for property acquisition and rehabilitation, while the 70% subsidized LIHTC, or 9% LIHTC is usually reserved for new construction. PGIM Emerging Market Corporate ESG Bond. NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE. Annualized return as of 03/31/2023, Limited Term Tax-Exempt Bond Fund of America. The Funds Subsidized 7 Day Yield takes into account any fee waiver or expense limitation arrangements, if any. A value approach could also result in fewer investments that increase rapidly during times of market gains and could cause a fund to underperform funds that use a growth or non-value approach to investing. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. 3 Benchmark: Barclays US Agg Interm TR USD. Invesco Distributors, Inc., is the US distributor for Invesco Ltd.'s Retail Products, Collective Trust Funds and CollegeBound 529. Copyright 2023 Morningstar, Inc. All rights reserved. The Morningstar RatingTMfor funds, or star rating, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. We provide a platform for our authors to report on investments fairly, accurately, and from the investors point of view. For the best MarketWatch.com experience, please update to a modern browser. Generally, a funds fixed income securities will decrease in value if interest rates rise and vice versa. Privacy Policy and Foreign Securities Risk. Performance prior to March 19, 2020 reflects the deduction of the gross expense ratio. While the ranking excludes index funds, it does include actively managed ETFs and smart beta ETFs, which are run passively but built on active investment strategies. We want to hear from you. The Fund invests in A or better-rated securities only. The USG & GSE Money Market Funds 7 Day Yield is shown only without sales charges as this fund does not have sales charges. The Fund invests at least 80% of its net assets in equity securities, with an emphasis on common stocks with an attractive dividend. Yield as of 3/31/23 (updated monthly). To view definitions for the above Portfolio Details, Click here. We are the only floating rate fund that mandates A or better credit quality. Please. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. The Morningstar Rating is a quantitative rating based on a fund's past performance. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The Fund seeks to provide long-term growth of capital. Higher turnover means higher trading fees. This risk is actually greater for longer-term debt securities. Which type of investor describes you best? Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Objective & Strategy. Performance quotations have been calculated as follows: (a) for Advisor Class periods prior to 3/20/2002, a To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lippers general U.S. stock category; one in world equity; and one mixed asset, such as a balanced or allocation fund. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388. For more information please call 800-269-8810. We sell different types of products and services to both investment professionals and individual investors. Allocations subject to change. Through our Tax Credit Exit Fund, we create liquidity opportunities for General Partners who want to sell their positions in tax credit projects. TheFund's portfolio is actively managedand portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. Please enable JavaScript to use lordabbett.com, The performance quoted represents past performance, which is no indication of future results. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Past performance is no guarantee of future results. Refinitiv Lipper 2022. The Process Pillar is our assessment of how sensible, clearly defined, and repeatable LCLAX's performance objective and investment process is for both security selection and portfolio construction.. ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS. Returns as of 3/31/23 (updated monthly). A strong management team and sound investment process underpin ClearBridge Select A's Morningstar Quantitative Rating of Bronze. The dollar-weighted average maturity of the fund's portfolio is between three and 10 years. Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. An investment in the fund could lose money over short or even long periods. Rankings also take into account an individual fund's performance within its Lipper peer universe. of net assets as of 12/31/2022 Market risk may affect a single issuer, industry or section of the economy, or it may affect the market as a whole. Current performance may be higher or lower than the performance data quoted. Barron's Fund Family Rankings are awarded annually. Key Facts Yield as of 3/31/23 The market values of the Funds investments, and therefore the value of the Funds shares, will go up and down, sometimes rapidly or unpredictably. This information is updated per the most recent prospectus. Performance shown above for periods prior to June 12, 2017 reflect the investment process and strategies utilized by the fund under the name "BlackRock Flexible Equity Fund". Under normal circumstances, the Fund invests primarily in publicly traded equity and equity-related securities of US and non-US companies. Our CollegeBound 529 portal allows you to contribute, open, manage, and withdraw from your account. With a focus on quality, the strategy typically invests in a broad spectrum of investment-grade municipal bonds with maturities between three and 10 years. Maintaining independence and editorial freedom is essential to our mission of empowering investor success. The Parent Pillar is our rating of LCLAXs parent organizations priorities and whether theyre in line with investors interests. Provide specific products and services to you, such as portfolio management or data aggregation. EXPERIENCED, TENURED TEAM Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. Minimum initial investment varies depending on the class of shares you buy and the type of account. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation. Cookie Notice (). Muni National Intermediate-Term Bond Funds. How we use your information depends on the product and service that you use and your relationship with us. This material must be preceded or accompanied by a prospectus. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. . As a result, the funds holdings may deviate significantly from its performance benchmark. FACT SHEET DECEMBER 31, 2022 . The unsubsidized yield does not reflect the fee waivers and/or expense limitations. These factors may include, but are not limited to: poor earnings reports, a loss of customers, litigation against the company, general unfavorable performance of the companys sector or industry, or changes in government regulations affecting the company or its industry. Explore the possibilities below. The Funds performance during a broad market advance could suffer because dividend paying stocks may not experience the same capital appreciation as non-dividend paying stocks. Fact sheet |December 31, 2022. Institutional Separate Accounts and Separately Managed Accounts are offered by affiliated investment advisers, which provide investment advisory services and do not sell securities. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. JPMorgan 100% U.S. Treasury Securities Money Market Fund Inst Shr Cl. Subscribe and order forms, fact sheets, presentations, and other documents that can help advisers grow their business. Credit-card balances have hit historic highs. Average Coupon - The weighted average annual rate of interest on a bonds face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio. CUSIP is a registered trademark of the American Bankers Association. Please read the prospectus carefully before investing. To obtain performance as of the most recent month-end, please call 1-800-269-8810. Performance is expected to track the performance of the Fund's custom benchmark. . It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments. February 1, 2023. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period has the greatest impact because it is included in all three rating periods. The Fund's portfolio is actively managed and is subject to change. A Note about Risk:Principal risks of investing in the Fund include interest rate risk, credit risk, mortgage-related securities risk, and issuer concentration risk. VanguardLimited-Term Tax-Exempt Fund. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figure associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. 2R measures how a fund's performance correlates with a benchmark index's performance and shows what portion of it can be explained by the performance of the overall market/index. These products and services are usually sold through license agreements or subscriptions. Source: The value of the Funds investments may go up or down due to general market conditions that are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, military conflict, acts of terrorism, economic crisis or adverse investor sentiment generally. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. The risks associated with an investment in the Fund can increase during times of significant market volatility. If a sales charge had been deducted, the results would have been lower. Leader Capital Corporation is a registered investment advisor. The Fund is actively managed and depends heavily on the Advisers judgment about markets, interest rates or the attractiveness, relative values, liquidity, or potential appreciation of particular investments made for the Funds portfolio. All Rights Reserved. Depending on market conditions, dividend paying stocks that meet the Funds investment criteria may not be widely available for purchase by the Fund, which may increase the volatility of the Funds returns and limit its ability to produce current income while remaining fully diversified. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. Therefore, there can be no assurance for future results. Source: Lipper Analytical Services. Share prices and investment returns fluctuate and investor shares may be worth more or less than original cost upon redemption. Past performance does not guarantee future results. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. 4% vs. 9% LIHTC Credits. 2022 Morningstar, Inc. All Rights Reserved. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. Lipper calculated each fund's net total return for the year ended December 31, 2021, minus the effects of 12b-1 fees and sales charges. LCTIX | LCTRX| Updated as of March 31st, 2023. The performance data quoted represents past performance and current returns may be lower or higher. All Rights Reserved. Adverse events in any part of the equity or fixed-income markets may have unexpected negative effects on other market segments. Limited Term Tax-Exempt Bond Fund of America (LTEBX), Sign up for paperless delivery of documents, Lipper Short-Intmdt Municipal Debt Check the background of this Firm and/or investment professionals onFINRA's BrokerCheck. The fund is subject to the following risks, which could affect . Institutional includes defined contribution and defined benefit plans (corporate, public, Taft-Hartley), foundations and endowments, insurers, corporate cash managers, consultants, and trust administrators/custodians. Expense Ratio (Gross): Expense ratio is a measure of what it costs to operate an investment, expressed as a percentage of its assets, as a dollar amount, or in basis points. During a general downturn in the financial markets, multiple asset classes may decline in value. Provide specific products and services to you, such as portfolio management or data aggregation. Fees are a weakness here. Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time. For any damages or losses arising from any use of this information is updated per the most recent prospectus and! 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