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Wells Fargo/ GalliarD Ultra short bond Fund CIT fund overview Fixed Income The WELLS FARGO/ GALLIARD ULTRA SHORT BOND FUND (Fund) is a Fast Facts Inception Date: Class G: May 1, 2015 Fund Advisor: Galliard Capital Management, Inc. Fund Trustee and Investment Manager Wells Fargo Bank, NA conservative fixed income fund that seeks to provide safety of principal and appropriate liquidity, while generating a competitive yield. The Fund seeks to provide greater yield potential than money market investment strategies by extending maturities and investing in a diversified portfolio of high quality fixed income securities. The Fund is a collective trust fund managed and trusteed by Wells Fargo Bank, N.A., and advised by Galliard Capital Management. investment objective The Fund seeks to provide safety of principal and appropriate liquidity, while generating a competitive yield. There is no assurance that the Fund will achieve its objective. Portfolio Managers ·· Erol Sonderegger, CFA ·· Andrea Johnson, CFA Investment Strategy Fund Benchmark The Advisor will invest substantially all assets in investment-grade fixed income securities. The portfolio will be a diversified pool of fixed and variable rate U.S. dollardenominated fixed-income securities of a broad spectrum of U.S. and foreign issuers, including U.S. Government obligations and the debt securities of financial institutions, corporations, and others. All securities will be rated Baa3/BBB- or better at time of purchase by a Nationally Recognized Statistical Rating Organization (“NRSRO”). Shortterm money market securities shall have a rating of A1/P1 or better. All securities will be denominated in US dollars. The minimum weighted average quality of the underlying Bank of America/Merill Lynch 1 Year Treasury Note Index Ultra Short Peer Groups ·· Morningstar Ultrashort Bond Category ·· eVestment Alliance US Enhanced Cash Fixed Income Universe assets will be maintained at Aa3/AA-. Valuation Frequency About Galliard Daily Typical Maturity Range 0.75 years to 1.5 years Minimum Average Credit Quality Rating Aa3/AATotal Expense Class CUSIP Class G* 94988K542 0.040% Class W* 94988K534 0.055% Class E 94988K518 0.230% Class E1 94988K492 0.190% Ratio Galliard is one of the nation’s largest stable value fixed income managers1 with $84.8 billion in assets under management. As part of Galliard’s stable value management capability, we currently manage approximately $38.4 billion in short-duration fixed income management. Galliard’s Fixed Income Team has managed similar ultra-short mandates since the inception of the firm in 1995. An existing ultra short portfolio opened in 1998 and continues to exist as a core trust within the Wells Fargo mutual fund organization and is currently utilized as a sub-portfolio within two Wells Fargo mutual funds. In addition, Galliard manages a variety of separate accounts with similar short duration mandates. *G and W unit classes are not available for direct investment 1 Pensions & Investments Largest Money Managers Report, May 27, 2013. The ranking is based on U.S. Institutional, tax-exempt assets in millions, as of December 31, 2012. 800 LaSalle Avenue, Suite 1100 Minneapolis, MN 55402-2054 www.galliard.com 800-717-1617 FOR INSTITUTIONAL INVESTOR USE ONLY. Wells Fargo/ Galliard Ultra Short Bond Fund Applications ·· Defined contribution plan investment option ·· Fixed income component of custom target date/balanced strategies ·· Secondary liquidity source for stable value strategies ·· Enhanced cash component for defined benefit plan Galliard’s approach to fixed income management is grounded in the philosophy of “income generation with risk control.” We seek to generate a realizable yield advantage over time, and as a result, we expect the vast majority of our performance over time will come from yield rather than price changes. We employ the same fixed income techniques used in our core/longer duration fixed income strategies for portfolios at the ultrashort and short end of the yield curve. Galliard seeks to build yield in a portfolio and emphasizes risk control by broadly diversifying holdings across sector, issue and issuers. Key Investment Guidelines Quality • Each security must be rated Baa3/BBB- or better at time of purchase by a Nationally Recognized Statistical Rating Organization (NRSRO) • Each short-term money market security must be rated A1/P1 or better at time of purchase • Weighted average quality of the Fund must be maintained as Aa3/AA- or higher Maturity/Duration • Duration is targeted to remain within +/-0.5 years of the Bank of America/Merrill Lynch 1 Year Treasury Note Index • Weighted average maturity will generally range from 0.75 to 1.5 years, with a guideline maximum of 2.75 years Sector Allocation Maximums • U.S. Government/Agencies: 100% For More Information Contact: Taylor Benson, Senior Director • Corporates/ Taxable Municipals: 50% • Asset-Backed Securities: 50% • Agency and Non-Agency CMBS: 25% • Mortgage-Backed Securities (RMBS): 25% 612-667-4252 [email protected] Galliard Client Service 800-717-1617 [email protected] This publication is for informational purposes only; it is not investment advice or a recommendation for a particular security strategy or investment product. Graphs and tables are for illustrative purposes only. Galliard’s advisory fees are disclosed in the firm’s SEC Form ADV Part 2 which is available upon request. FOR INSTITUTIONAL INVESTOR USE ONLY. USHFI022615