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. The dollar weighted
average portfolio maturity of the Bond Fund will normally not exceed 10 years.
The Bond Fund does not purchase securities with a view to rapid turnover. |
Fund Facts as of June 30, 2010
Fund Inception: February 10, 1992
Fund Assets: $337 million
Net Asset Value: $11.28
Dividend Frequency: Quarterly
Minimum Opening Investment: $2,500
Minimum Subsquent Investment: $100
Portfolio Characteristics as of June 30, 2010
Includes cash and cash equivalents.
Yield to Maturity: 3.44%
Average Years to Maturity: 2.75 yrs.
Duration: 2.37 yrs.
Number of Holdings: 533 |
| Daily returns as of
September 03, 2010 |
| |
Price |
Change |
YTD |
Bond
THOPX | 11.46 | -0.01 | 5.96%
|
|
| Month-end annualized returns as of
August 31, 2010 |
| |
One Year |
Three Year |
Five Year |
Ten Year |
Bond
THOPX | 11.52% | 9.92% | 7.58% | 7.04% |
|
| Average annual returns as of
June 30, 2010 |
| |
One Year |
Three Year |
Five Year |
Ten Year |
Bond
THOPX | 13.39% | 9.61% | 7.27% | 7.02% |
|
| Bond Fund Expense Ratios as of March 31, 2010 |
| Gross of fee waivers or reimbursements |
1.20% |
| Net Expense Ratio - Effective 4/01/10 |
0.80%* |
|
Additional Portfolio Charateristics
As Of 07/31/2010 |
| 30-Day SEC Yield |
2.74% |
30-Day SEC Yield
(Without reimbursement) |
2.69% |
|
*The Advisor has contractually agreed to waive management
fees and/or reimburse expenses incurred by the Bond Fund through March
31, 2011 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 June 30, 2010
| |
% of Total
Investments |
| U.S. Government & Government Related | 27.57% |
| AAA | 0.24% |
| AA | 6.27% |
| A | 14.80% |
| BBB | 47.14% |
| BB and Below | 3.63% |
| Not Rated | 0.03% |
| Common Stocks | 0.17% |
| Short-term Investments | 0.15% |
The Fund’s portfolio concentration is calculated
using ratings from Standard & Poor’s as of 6/30/2010. The highest rating
given is AAA and the lowest is C. |
Asset Allocation as of June 30, 2010
| |
% of Total
Investments |
| Corporate Bonds | 70.24% |
| United States Government and Agency Issues | 18.06% |
| Short-Term Investments | 9.18% |
| Convertible Bonds | 1.16% |
| Collateralized Mortgage Obligations | 0.71% |
| Federal Agency Mortgage-Backed Securities | 0.48% |
| Common Stocks | 0.17% |
|
Largest Bond Holdings as of June 30, 2010
| |
% of Net
Assets |
| United States Treasury Bills | 9.20% |
| Federal Home Loan Banks | 7.47% |
| Freddie Mac | 4.77% |
| Fannie Mae | 3.16% |
| Wells Fargo & Co. | 2.75% |
| Morgan Stanley | 2.69% |
| Bank of America | 2.57% |
| Wyndham Worldwide | 2.21% |
| SLM Corp | 2.20% |
| Marshall & Ilsley Bank | 2.14% |
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 Client 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 developments. 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. |
