Fixed Income

BATEX

Allocation Target Shares: Series E Fund

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

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  1y 3y 5y 10y Incept.
-15.60 -0.88 2.28 - 4.17
Benchmark (%) -15.05 -1.43 2.31 - 3.57
Morningstar Category Avg. (%) -16.64 -3.27 0.16 - -
Morningstar Ranking 90/197 11/190 3/167 - -
Morningstar Quartile 2 1 1 - -
Lipper Category Avg. (%) -13.21 -2.51 0.15 - -
Lipper Ranking 252/295 8/275 4/243 - -
Lipper Quartile 4 1 1 - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
-16.74 -6.06 -4.36 -15.60 -2.61 11.92 - 39.53
Benchmark (%) -16.03 -6.16 -4.83 -15.05 -4.22 12.07 - 33.09
Morningstar Category Avg. (%) -17.83 -1.83 -9.44 -16.64 -9.49 0.79 - -
Lipper Category Avg. (%) -13.92 -4.14 -3.87 -13.21 -7.31 0.80 - -
  2017 2018 2019 2020 2021
Total Return (%) - - - - 9.28
Benchmark (%) - - - - 7.77
Morningstar Category Avg. (%) - - - - 5.44
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.

Key Facts

Key Facts

Size of Class (Millions) as of Dec 05, 2022 $305.3 M
Size of Fund (Millions) $305.3 M
Share Class launch date Aug 03, 2014
Asset Class Fixed Income
Morningstar Category High Yield Muni
Lipper Classification Gen & Ins Muni Debt Fds
Benchmark Index BBG Municipal High Yield Bond Index (Risk Basis: MUNI)
CUSIP 092480607
Distribution Frequency Monthly
Number of Holdings as of Nov 30, 2022 579
Max Offer Price as of Dec 05, 2022 $10.15
Open to New Investors Yes
Turnover Percent in the Annual Report as of Mar 31, 2022 26%

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. Unless otherwise stated in Fund documentation or included within the Fund’s investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective, but rather describes how ESG information is considered as part of the overall investment process.


Where applicable, the Fund manager includes ESG considerations in combination with other information in the research and due diligence stage of the investment process. ESG information may be sourced from both internal and external sources and included in the Aladdin risk system. The Fund manager conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.11%
Net Expense Ratio 0.03%

Net Expense Ratio excluding Investment Related Expenses is 0.00%

  • Acquired Fund Fees and Expenses 0.00%
  • Interest expense 0.03%

Ratings

Ratings

Morningstar Rating

5 stars
Overall Morningstar Rating for Allocation Target Shares: Series E Fund, Class, as of Nov 30, 2022 rated against 188 High Yield Muni Funds based on risk adjusted total return.

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 Oct 31, 2022 out of 274, 6,284, 276, 125 and 275 Funds, respectively in Lipper's Gen & Ins Muni Debt Fds classification.

Portfolio Managers

Portfolio Managers

Ted Jaeckel, CFA
Head Portfolio Manager, Municipal Mutual Fund

    

Walter O'Connor, CFA
Managing Director is a Co-head and Portfolio Manager for the Municipal Bond Funds team

  

Kevin Maloney
Kevin Maloney
Michael Perilli
Michael Perilli
Phillip Soccio
Phillip Soccio
Portfolio Manager

Literature

Literature

 

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