High-Yield

as of 04/17/14
invest now

 
Daily Price (04/17/14) $6.23 Daily Change: $+0.00 (+0.02%)  
Investment Objective: Income Ticker Symbol: ABHIX
Fund Type: Taxable Bond Funds Fund Code: 101
Share Class: Investor Inception Date: 09/30/97
Total Assets: $300,759,187.13 Newspaper Symbol: HighYld  
Performance

Data reflects past performance for Investor Class shares, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value fluctuates. Redemption value may be more or less than original cost. Obtain performance data current to the most recent month end. For additional share class information, consult the prospectus.

  Total Return Average Annual Total Return as of 03/31/2014
Expense
Ratio*
Inception
Date
as of
04/17/2014
YTD
as of
03/31/2014
1 yr
3 yr 5 yr 10 yr 20 yr Life
  +2.51% +6.08% +7.81% +13.95% +7.13% --% +5.30% 0.87% 09/30/97
Morningstar
Ratings
M1:(as of 03/31/2014)
-- -- 3 out of 5 Stars2 out of 5 Stars3 out of 5 Stars--Overall
3 out of 5 Stars Overall
Funds rated in category:----550 469 332 --550
Morningstar Category: High Yield Bond
Lipper Quartiles & Rankings:L1 --Quartile Ranking
397/577
Quartile Ranking
223/468
Quartile Ranking
335/395
Quartile Ranking
162/273
--
Ranking for High Yield Funds as of 03/31/2014, based on total returns.
 

M1For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating™ metrics. Past performance is no guarantee of future results. Morningstar Rating™ is for Investor share class only; other classes may have difference performance characteristics.

Morningstar InfoM1

Overall Rating
Stars
rated among 550 High Yield Bond
(as of 03/31/2014 )
Equity Style BoxN1

The fund's current expense ratio is 0.87%

Investment Strategy:
  • Lower–rated, high–yielding corporate bonds.K1
For Investors Who:
  • Seek one of the highest income opportunities available of all bond funds in exchange for higher credit risk.
  • Want to diversify equity–heavy portfolios while maintaining a preference for higher–risk securities.
  • Can tolerate relatively high share price fluctuation.
Risk Factors:

The lower-rated debt securities in which the fund invests are subject to greater credit risk and liquidity risk. Credit risk is the risk that an obligation won't be paid and a loss will result. Generally, a lower credit rating indicates a greater risk of non-payment. Liquidity risk is the risk that the fund will have difficulty selling its debt securities.

More Information
arrow Prospectus
arrow Summary Prospectus
arrow Investment Kit
arrow Fund Minimums
arrow Semiannual Report
arrow Annual Report
arrow

Fund Management

G. David MacEwen
G. David MacEwen
Co-Chief Investment Officer
Senior Vice President and Senior Portfolio Manager

Kevin Akioka, CFA
Kevin Akioka, CFA
Vice President, Senior Portfolio Manager

Objective

High current income by investing in a diversified portfolio of high-yield corporate bonds and other debt securities



Footnotes

(*) The annual expense ratio is based on expenses incurred by the fund, as stated in the most recent prospectus.

K1The lower-rated securities in which the fund invests are subject to greater credit, default and liquidity risk.

N1The Morningstar Style BoxTM reveals a fund's investment strategy. For the equity holdings in the fund's portfolio, the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend or growth).

L1Lipper rankings are based on average annual total returns. Portions of the mutual fund performance information contained on this page were supplied by Lipper, a Reuters Company, subject to the following: Copyright © Reuters. All rights reserved. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Performance data is preliminary and subject to revision. Rankings are based on all classes available within the classification as of the date shown. Rankings are based only on the universe shown.

For a detailed description of any index referenced above, refer to our Glossary.

© 2013 Morningstar, Inc. All Rights Reserved. Certain information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.