Fixed Income

MANJX

New Jersey Municipal Bond Fund

Overview

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Performance

Performance

  • Returns



The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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Distributions

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Key Facts

Key Facts

Size of Class (Millions) as of 06-Dec-2016 $132.6 M
Size of Fund (Millions) as of 06-Dec-2016 $287.4 M
Share Class launch date 31-Aug-1990
Asset Class Fixed Income
Morningstar Category Muni New Jersey
Lipper Classification NJ Muni Debt Funds
Benchmark Index S&P Municipal Bond Index
CUSIP 09253A847
Net, Excluding Investment Related Expenses 0.55%
Gross Expense Ratio 0.81%
Contractual End Date 30-Sep-2018
Number of Holdings as of 31-Oct-2016 180
Max Offer Price as of 06-Dec-2016 $10.76
Open to New Investors Yes
Turnover Percent as of 30-Nov-2016 7%

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of 30-Nov-2016 95.12
Beta (3y) as of 30-Nov-2016 1.29
Average Coupon as of 31-Oct-2016 3.84%
Best 3-Month Return Over the Last 3 Years 3 months ending 31-Mar-2014 4.98%
Worst 3-Month Return Over the Last 3 Years 3 months ending 30-Nov-2016 -6.03%

For the latest month-end Distribution Yield, click here.


This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Ratings

Ratings

Morningstar Rating

Overall Morningstar Rating for New Jersey Municipal Bond Fund, Class Inst, as of 30-Nov-2016 rated against 47 Muni New Jersey Funds.

Lipper Leader

 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of 31-Oct-2016 out of 47, 5,640, 47, 142 and 47 Funds, respectively in Lipper's NJ Muni Debt Funds classification.

Holdings

Holdings

as of 31-Oct-2016
Name Weight (%)
GARDEN ST PRESERVATION TR NJ 0 11/01/2024 2.71
TOB 4.97 UNNUTL 906363AB2 5.25 12/01/2019 2.32
NEW JERSEY HEALTH CARE FACS FI 5 07/01/2039 1.99
NEW JERSEY INST TECHNOLOGY 5 07/01/2040 1.90
TOB 3.45 NJSTRN 646136E23 5.25 06/15/2019 1.82
Name Weight (%)
NEW JERSEY ST EDL FACS AUTH RE 5 07/01/2035 1.76
NEW JERSEY ST EDL FACS AUTH RE 5 07/01/2033 1.61
NEW JERSEY ST TRANSN TR FD AUTH 0 12/15/2032 1.58
PORT AUTH NY & NJ 4.75 04/15/2037 1.56
NORTH HUDSON SEW AUTH N J SWR REV 0 08/01/2021 1.53

Exposure Breakdowns

Exposure Breakdowns

Type Fund Benchmark Net
Type Fund Benchmark Net
Allocations subject to change.
Type Fund Benchmark Net
Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

Notional value represents a fund’s use of derivatives, including but not limited to futures, options, and swaps. This value captures the fund exposures as if the derivative was replaced with the underlying asset and the corresponding financing or lending, such that all exposures sum to the net asset value. For non-derivatives, the market value and the notional value are identical.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Timothy Browse
Timothy Browse
Ted Jaeckel
Head Portfolio Manager, Municipal Mutual Fund
Walter O'Connor
Co-Head Portfolio Manager, Municipal Mutual Fund
Portfolio Manager

Literature

Literature

 

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