Bond Fund Investment
Strategy
The Bond Fund normally invests at least
80% of its net assets plus any borrowing for investment
purposes in a diversified portfolio of bonds, including
corporate bonds of domestic and foreign issuers payable
in U. S. dollars, short-term debt instruments, mortgage-related
securities, and U. S. Treasury securities and other debt
securities issued or guaranteed by the U. S. Government
(including its agencies and instrumentalities). Although
the Bond Fund invests primarily in investment-grade debt
securities (i. e., those rated in the four highest rating
categories by S&P or Moody’s), it may invest
up to 10% of its net assets in bonds rated below investment
grade . In the aggregate, these below investment-grade
bonds, along with the other bonds in the Fund’s portfolio,
will comprise at least 80% of the Fund’s net assets
plus any borrowing for investment purposes. The Bond Fund
may invest up to 20% of its net assets in other non-debt
securities which include convertible bonds, common stocks
and variable-rate demand notes. |
Fund
Facts as of December 31, 2011
Fund Inception: February 10, 1992
Fund Assets: $679 million
Net Asset Value: $11.24
Dividend Frequency: Quarterly
Minimum Opening Investment: $2,500
Minimum Subsquent Investment: $100
Portfolio Characteristics as of December 31, 2011
Includes cash and cash equivalents.
Yield to Maturity: 4.56%
Average Years to Maturity: 3.23 yrs.
Duration: 2.82 yrs.
Number of Holdings: 502 |
| Daily returns as of
February 06, 2012 |
| |
Price |
Change |
YTD |
Bond
THOPX | 11.47 | 0.01 | 2.05%
|
|
| Month-end annualized returns as of
January 31, 2012 |
| |
One Year |
Three Year |
Five Year |
Ten Year |
Bond
THOPX | 3.87% | 10.94% | 7.66% | 6.17% |
|
| Average annual returns as of
December 31, 2011 |
| |
One Year |
Three Year |
Five Year |
Ten Year |
Bond
THOPX | 3.04% | 11.34% | 7.38% | 6.06% |
|
| Bond Fund Expense Ratios as of March
31, 2011 |
| Gross of fee waivers or reimbursements |
0.87% |
| Net Expense Ratio - Effective 4/01/11 |
0.80%* |
|
Additional Portfolio Charateristics
As Of 01/31/2012 |
| 30-Day SEC Yield |
3.54% |
30-Day SEC Yield
(Without reimbursement) |
3.53% |
|
*The Advisor has contractually agreed to waive management fees and/or reimburse expenses incurred by the Bond Fund through March 31, 2012 so that the annual operating expenses of that Fund do not exceed 0.80% of its average daily net assets. Investment performance reflects fee waivers in effect. In the absence of such waivers, the returns would be reduced.
Performance data quoted represents
past performance: past performance does not guarantee future
results. The investment returns and principal value of
an investment 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 800-999-0887 or visiting www.thompsonplumb.com.
|
Portfolio Concentration
as of December 31, 2011
| |
% of Total
Investments |
| U.S. Government & Government Related | 0.69% |
| AAA | 0.46% |
| AA | 2.43% |
| A | 14.17% |
| BBB | 77.42% |
| BB and Below | 4.73% |
| Not Rated | 0.00% |
| Common Stocks | 0.09% |
| Cash & Cash Equivalents | 0.01% |
The Fund’s portfolio concentration is calculated using ratings from Standard & Poor’s. If Standard & Poor’s does not rate a holding then Moody’s or Fitch is used. All ratings are as of 12/31/11. |
Asset Allocation
as of December 31, 2011
| |
% of Total
Investments |
| Corporate Bonds | 95.01% |
| Convertible Bonds | 2.63% |
| Asset-Backed Securities | 1.57% |
| United States Government and Agency Issues | 0.40% |
| Federal Agency Mortgage-Backed Securities | 0.29% |
| Common Stock | 0.09% |
| Short-Term Investments | 0.01% |
|
Largest Bond Holdings
as of December 31, 2011
| |
% of Net
Assets |
| Morgan Stanley | 3.19% |
| Bank of America | 3.18% |
| Citigroup | 3.17% |
| Telecom Italia | 2.17% |
| SLM Corp. | 2.16% |
| Masco Corp. | 2.16% |
| Computer Sciences | 2.16% |
| Owens Corning | 2.15% |
| Zions Bancorporation | 2.14% |
| SL Green Realty | 2.13% |
Portfolio holdings and assets/sector
allocations are subject to change and are not recommendations
to buy or sell any security.
Current and future portfolio holdings
are subject to risk.
|
Bond Fund Managers
James T. Evans, CFA
Jason L. Stephens, CFA
John W. Thompson, CFA
John W. Thompson, James T. Evans and Jason
L. Stephens serve as Co-Portfolio Managers for the Bond
Fund. Mr. Thompson has managed or co-managed the Bond Fund
since its inception and Mr. Evans and Mr. Stephens have
been actively involved in the management of the Bond Fund
since February of 2009. |
|
If
you have any questions, please contact Shareholder Services
at 800.999.0887. |
|
Please refer
to the Prospectus for
more complete information including investment objectives,
risks, charges and expenses of the investment company.
The prospectus contains this and other information
about the investment company. Please read it carefully
before you invest.
Mutual fund investing involves risk, principal loss is possible. Investments in debt securities typically decrease in value when interest rates rise. The risk is usually greater for longer-term debt securities. Investments in Asset Backed and Mortgage Backed Securities include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic development Investments in bonds of foreign issuers involve greater volatility, political and economic risks, and differences in accounting methods Investment by the Fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. Results include the reinvestment of all dividends and capital gains distributions.
Duration is a commonly used measure
of the potential volatility of the price of a debt security,
or the aggregate market value of a portfolio of debt
securities, prior to maturity. Securities with a longer
duration generally have more volatile prices than securities
of comparable quality with a shorter duration.
SEC Yield is a standardized yield computed
by dividing the net investment income per share earned
during the 30-day period prior to month-end and was created
to allow for fairer comparisons among bond funds.
The YTM represents the average yield
to maturity of the bonds in the portfolio and is not representative
of the funds yield
Quasar Distributors, LLC
distributor. |
