| Absolute Return |
Funds that aim for positive returns in all market conditions. The funds are not bench-marked against a traditional long-only market index but rather have the aim of outperforming a cash or risk-free benchmark. |
| Absolute Return Bond |
Funds that aim for positive returns in all market conditions and invest primarily in debt securities. The funds are not benchmarked against a traditional long-only market index but rather have the aim of outperforming a cash or risk-free benchmark. |
| Alternative Active Extension |
Funds that combine long-and short-stock selection to invest in a diversified portfolio of U.S. large-cap equities, with a target net exposure of 100% long. Typical strategies vary between 110% long and 10% short to 160% long and 60% short. |
| Alternative Credit Focus |
Funds that, by prospectus language, invest in a wide range of credit-structured vehicles by using either fundamental credit research analysis or quantitative credit portfolio modeling trying to bene t from any changes in credit quality, credit spreads, and market liquidity. |
| Alternative Currency Strategies |
Funds that invest in global currencies through the use of short-term money market instruments, derivatives (forwards, options, swaps), and cash deposits. |
| Alternative Energy Funds |
Funds that invest primarily in the equity securities of deomestic and foreign companies engaged in the alternative energy industry including cleaner technologies for traditional energy, all types of renewable energy (including solar, wind, hydro, tidal, and geothermal), and sustainable energy technologies designed to avoid the burning of fossil fuels and reduce global warming. |
| Alternative Equity Market-Neutral |
Fund that employ portfolio strategies generating consistent returns in both up and down markets by selecting positions with a total net market exposure of zero. |
| Alternative Event Driven |
Funds that, by prospectus language, seek to exploit pricing inefficiencies that may occur before or after a corporate event, such as a bankruptcy, merger, acquisition, or spinoff. Event Driven funds can invest in equities, fixed income instruments (investment grade, high yield, bank debt, convertible debt and distressed), options, and other derivatives. |
| Alternative Global MACRO |
Funds that, by prospectus language, invest around the world using economic theory to justify the decision-making process. The strategy is typically based on forecasts and analysis about interest rate trends, the general ow of funds, political changes, government policies, intergovernmental relations, and other broad systemic factors. These funds generally trade a wide range of markets and geographic regions, employing a broad range of trading ideas and instruments. |
| Alternative Long/Short Equity |
Domestic or foreign funds that employ portfolio strategies combining long holdings of equities with short sales of equity, equity options, or equity index options. The funds may be either net long or net short, depending on the portfolio manager’s view of the market. |
| Alternative Managed Futures |
Funds that invest primarily in a basket of futures contracts with the aim of reduced volatility and positive returns in any market environment. Investment strategies are based on proprietary trading strategies that include the ability to go long and/or short. |
| Alternative Multi-Strategy |
Funds that, by prospectus language, seek total returns through the management of several different hedge-like strategies. These funds are typically quantitatively driven to measure the existing relationship between instruments and in some cases to identify positions in which the risk-adjusted spread between these instruments represents an opportunity for the investment manager. |
| Balanced |
Funds whose primary objective is to conserve principal by maintaining at all times a balanced portfolio of both stocks and bonds. Typically, the stock/bond ratio ranges around 60%/40%. |
| Basic Materials |
Funds that invest primarily in the equity securities of domestic and foreign companies engaged in manufacturing chemicals; construction materials; glass; paper, forest products, and related packaging products; and base metals, minerals, and mining products including steel. |
| California Intermediate Municipal Debt |
Funds that invest primarily in municipal debt issues that are exempt from taxation in California, with dollar-weighted average maturities of five to ten years. |
| California Municipal Debt |
Funds that limit assets to those securities exempt from taxation in California (double tax-exempt) or city (triple tax-exempt). |
| California Short/Intermediate Municipal Debt |
Funds that invest primarily in municipal debt issues that are exempt from taxation in California, with dollar-weighted average maturities of one to five years. |
| California Tax-Exempt Money Market |
Funds that invest in municipal obligations of California (double tax-exempt) or city (triple tax-exempt) with dollar-weighted average maturities of less than 90 days. These funds intend to keep constant net asset value. |
| Capital Appreciation |
Funds that aim at maximum capital appreciation, frequently by means of 100%-or-more portfolio turnover, leveraging, purchasing unregistered securities, purchasing options, etc. The funds may take large cash positions. |
| China Region |
Funds that concentrate their investments in equity securities whose primary trading markets or operations are concentrated in the China region or in a single country within this region. |
| Commodities Agriculture |
Funds that invest primarily in agricultural commodity-linked derivative instruments or physicals. |
| Commodities Base Metal |
Funds that invest primarily in base-metal commodity-linked derivative instruments or physicals. |
| Commodities Energy |
Funds that invest primarily in energy-related commodity-linked derivative instruments or physicals. |
| Commodities General |
Funds that invest primarily in a blended basket of commodity-linked derivative instruments or physicals. |
| Commodities Precious Metals |
Funds that invest primarily in precious-metal commodity-linked derivative instruments or physicals. |
| Commodities Specialty |
Funds that invest primarily in commodity-linked derivative instruments or physicals of sectors or strategies not previously mentioned. These include leveraged or short-biased offerings. |
| Consumer Goods |
Funds that invest primarily in the equity securities of domestic and foreign companies engaged in manufacturing and distributing consumer goods such as food, beverages, tobacco, and nondurable household goods and personal products. |
| Consumer Services |
Funds that invest primarily in the equity securities of domestic and foreign companies engaged in providing consumer services, including the services segment of hotels, restaurants, and other leisure facilities; media production and services; and consumer retail and services. |
| Convertible Securities |
Funds that invest primarily in convertible bonds and/or convertible preferred stock. |
| Core Bond |
Funds that invest at least 85% in domestic investment-grade debt issues (rated in the top four grades) with any remaining investment in non-benchmark sectors such as high-yield, global, and emerging market debt. These funds maintain dollar-weighted average maturities of five to ten years. |
| Core Plus Bond |
Funds that invest at least 65% in domestic investment-grade debt issues (rated in the top four grades) with any remaining investment in non-benchmark sectors such as high-yield, global, and emerging market debt. These funds maintain dollar-weighted average maturities of five to ten years. |
| Corporate Debt A-Rated |
Funds that invest primarily in corporate debt issues rated “A” or better or government issues. |
| Corporate Debt BBB-Rated |
Funds that invest at least 65% of their assets in corporate and government debt issues rated in the top four grades. |
| Dedicated Short-Bias |
Funds that employ portfolio strategies consistently creating a “net short” exposure to the market. This classification also includes short-only funds, i.e., funds that pursue short sales of stock or stock index options. |
| Emerging Market Hard Currency Debt |
Funds that seek either current income or total return by investing at least 65% of total assets in emerging market debt securities, where “emerging market” is defined by a country’s GNP per capita or other economic measures. |
| Emerging Markets |
Funds that seek long-term capital appreciation by investing at least 65% of total assets in emerging market equity securities, where “emerging market” is defined by a country’s GNP per capita or other economic measures. |
| Emerging Markets Local Currency Debt |
Funds that seek either current income or total return by investing at least 65% of total assets in debt issues denominated in the currency of their market of issuance. “Emerging market” is defined by a country’s GNP per capita or other economic measures. |
| Emerging Markets Mixed Asset |
Funds that seek long-term capital appreciation by investing primarily in a mix of emerging market equity and debt securities. “Emerging market” is defined by a country’s GNP per capita or other economic measures. |
| Energy MLP |
Funds that invest primarily in Master Limited Partnerships (MLPs) engaged in the transportation, storage and processing of minerals and natural resources. |
| Equity Income |
Funds that, by prospectus language and portfolio practice, seek relatively high current income and growth of income by investing at least 65% of their portfolio in dividend-paying equity securities. |
| Equity Leverage |
Diversified and non-diversified equity funds that seek daily investment results of more than 100% of the daily performance of a stated benchmark through any combination of futures contracts, derivatives, and leverage. |
| European Region |
Funds that concentrate their investments in equity securities whose primary trading markets or operations are concentrated in the European region or a single country within this region. |
| Financial Services |
Funds that invest primarily in equity securities of domestic companies engaged in providing financial services, including but not limited to banks, finance companies, insurance companies, and securities/brokerage rms. |
| Flexible Income |
Funds that emphasize income generation by investing at least 85% of their assets in debt issues and preferred and convertible securities. Common stocks and warrants cannot exceed 15%. |
| Flexible Portfolio |
Funds that allocate their investments to both domestic and foreign securities across traditional asset classes with a focus on total return. The traditional asset classes utilized are common stocks, bonds, and money market instruments. |
| Frontier Markets |
Funds that seek long-term capital appreciation by investing at least 65% of total assets in frontier market equity securities. “Frontier market” is defined by a country’s GNP per capita or other economic measures. |
| General and Insured Municipal Debt |
Funds that either invest primarily in municipal debt issues rated in the top four credit ratings or invest primarily in municipal debt issues insured as to timely payment. |
| General Bond |
Funds that do not have any quality or maturity restrictions. These funds intend to keep the bulk of their assets in corporate and government debt issues. |
| General U.S. Government |
Funds that invest primarily in U.S. government and agency issues. |
| General U.S. Treasury |
Funds that invest primarily in U.S. Treasury bills, notes, and bonds. |
| Global |
Funds that invest at least 25% of their portfolio in securities traded outside of the United States and that may own U.S. securities as well. |
| Global Equity Income |
Funds that, by prospectus language and portfolio practice, seek relatively high current income and growth of income by investing at least 65% of their portfolio in dividend-paying equity securities of domestic and foreign companies. |
| Global Financial Services |
Funds that invest primarily in equity securities of domestic and foreign companies engaged in providing financial services, including but not limited to banks, finance companies, insurance companies, and securities/ brokerage rms. |
| Global Health/Biotechnology |
Funds that invest primarily in the equity securities of domestic and foreign companies engaged in healthcare, medicine, and biotechnology. |
| Global High Yield |
Funds that aim at high (relative) current yield from both domestic and foreign fixed income securities, have no quality or maturity restrictions, and tend to invest in lower-grade debt issues. |
| Global Income |
Funds that state in their prospectus that they invest primarily in U.S. dollar and non-U.S. dollar debt securities of issuers located in at least three countries, one of which may be the United States. |
| Global Infrastructure |
Funds that invest primarily in equity securities of domestic and foreign companies engaged in an infrastructure industry, including but not limited to transportation, communication and waste management. |
| Global Large-Cap Core |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies both inside and outside of the U.S. with market capitalizations (on a three-year weighted basis) above Lipper’s global large-cap floor. Global large-cap core funds typically have average characteristics compared to their large-cap-specific subset of the MSCI World Index. |
| Global Large-Cap Growth |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies both inside and outside of the U.S. with market capitalizations (on a three-year weighted basis) above Lipper’s global large-cap floor. Global large-cap growth funds typically have above-average characteristics compared to their large-cap-specific subset of the MSCI World Index. |
| Global Large-Cap Value |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies both inside and outside of the U.S. with market capitalizations (on a three-year weighted basis) above Lipper’s global large-cap floor. Global large-cap value funds typically have below-average characteristics compared to their large-cap-specific subset of the MSCI World Index. |
| Global Multi-Cap Core |
Funds that, by portfolio practice, invest in a variety of market capitalization ranges without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Global multi-cap core funds typically have average characteristics compared to the MSCI World Index. |
| Global Multi-Cap Growth |
Funds that, by portfolio practice, invest in a variety of market capitalization ranges without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Global multi-cap growth funds typically have above-average characteristics compared to the MSCI World Index. |
| Global Multi-Cap Value |
Funds that, by portfolio practice, invest in a variety of market capitalization ranges without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Global multi-cap value funds typically have below-average characteristics compared to the MSCI World Index. |
| Global Natural Resources |
Funds that invest primarily in the equity securities of domestic and foreign companies engaged in the exploration, development, production, or distribution of natural resources (including oil, natural gas, and base minerals) and/or alternative energy sources (including solar, wind, hydro, tidal, and geothermal). |
| Global Real Estate |
Funds that invest at least 25% but less than 75% of their equity portfolio in shares of companies engaged in the real estate industry that are strictly outside of the U.S. or whose securities are principally traded outside of the U.S. |
| Global Science and Technology |
Funds that invest primarily in the equity securities of domestic and foreign companies engaged in science and technology. |
| GLOBAL Small/Mid-Cap |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies both inside and outside of the U.S. with market capitalizations (on a three-year weighted basis) below Lipper’s global large-cap floor. |
| Global/International Small/Mid-Cap Stock |
A super-category, defined by Personal Fund, that includes Global and International Small- and Mid-Cap stock funds, of either Value, Growth or Core styles. |
| Global/International Stock |
A super-category, defined by Personal Fund, that includes Global and International Large-Cap and Multi-Cap stock funds, of either Value, Growth or Core styles, i.e. all Global and International not limited by industry sector or geographic region and excluding specifically Small-Cap and Mid-Cap funds. |
| GNMA |
Funds that invest primarily in Government National Mortgage Association securities. |
| Growth |
Funds that normally invest in companies with long-term earnings expected to grow significantly faster than the earnings of the stocks represented in the major unmanaged stock indices. |
| Growth & Income |
Funds that combine a growth-of-earnings orientation and an income requirement for level and/or rising dividends. |
| Health/Biotechnology |
Funds that invest primarily in the equity securities of domestic companies engaged in healthcare, medicine, and biotechnology. |
| High Yield |
Funds that aim at high (relative) current yield from fixed income securities, have no quality or maturity restrictions, and tend to invest in lower-grade debt issues. |
| High Yield Municipal Debt |
Funds that typically invest 50% or more of their assets in municipal debt issues rated BBB or less. |
| Income |
Funds that normally seek a high level of current income through investing in income-producing stocks, bonds, and money market instruments. |
| India Region |
Funds that concentrate their investments in equity securities with primary trading markets or operations concentrated in the India region. |
| Industrials |
Funds that invest primarily in the equity securities of domestic and foreign companies engaged in manufacturing and distributing capital goods including aerospace & defense, engineering, and building products; electrical equipment; industrial machinery; commercial services and supplies including printing, employment, environmental, and office services. |
| Inflation-Protected Bond |
Funds that invest primarily in inflation-indexed fixed income securities. Inflation-linked bonds are fixed income securities structured to provide protection against inflation. |
| Institutional Money Market |
Funds that invest in high-quality financial instruments rated in the top two grades with dollar-weighted average maturities of less than 90 days. These funds are commonly limited to 401(k) and pension participants and often require high minimum investments and have lower total expense ratios relative to other money market funds. They intend to keep constant net asset value. |
| Institutional Tax-Exempt Money Market |
Funds that invest in municipal obligations with dollar-weighted average maturities of less than 90 days. These funds are commonly limited to 401(k) and pension participants and often require high minimum investments and have lower total expense ratios relative to other money market funds. They intend to keep constant net asset value. |
| Institutional U.S. Government Money Market |
Funds that invest principally in financial instruments issued or guaranteed by the U.S. government, its agencies, or its instrumentalities with dollar-weighted average maturities of less than 90 days. These funds are commonly limited to 401(k) and pension participants and often require high minimum investments and have lower total expense ratios relative to other money market funds. They intend to keep constant net asset value. |
| Institutional U.S. Treasury Money Market |
Funds that invest principally in U.S. Treasury obligations with dollar-weighted average maturities of less than 90 days. These funds are commonly limited to 401(k) and pension participants and often require high minimum investments and have lower total expense ratios relative to other money market funds. They intend to keep constant net asset value. |
| Intermediate Municipal Debt |
Funds that invest in municipal debt issues with dollar-weighted average maturities of five to ten years. |
| Intermediate U.S. Government |
Funds that invest primarily in securities issued or guaranteed by the U.S. government, its agencies, or its instrumentalities, with dollar-weighted average maturities of five to ten years. |
| International |
Funds that invest their assets in securities with primary trading markets outside of the United States. |
| International Equity Income |
Funds that, by prospectus language and portfolio practice, seek relatively high current income and growth of income by investing at least 65% of their portfolio in dividend-paying equity securities of foreign companies. |
| International Income |
Funds that state in their prospectus that they invest primarily in U.S. dollar and non-U.S. dollar debt securities of issuers located in at least three countries, excluding the United States, except in periods of market weakness. |
| International Large-Cap Core |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies strictly outside of the U.S. with market capitalizations (on a three-year weighted basis) above Lipper’s international large-cap floor. International large-cap core funds typically have average characteristics compared to their large-cap-specific subset of the MSCI EAFE Index. |
| International Large-Cap Growth |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies strictly outside of the U.S. with market capitalizations (on a three-year weighted basis) above Lipper’s international large-cap floor. International large-cap growth funds typically have above-average characteristics compared to their large-cap-specific subset of the MSCI EAFE Index. |
| International Large-Cap Value |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies strictly outside of the U.S. with market capitalizations (on a three-year weighted basis) above Lipper’s international large-cap floor. International large-cap value funds typically have below-average characteristics compared to their large-cap-specific subset of the MSCI EAFE Index. |
| International Multi-Cap Core |
Funds that, by portfolio practice, invest in a variety of market capitalization ranges without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. International multi-cap core funds typically have average characteristics compared to the MSCI EAFE Index. |
| International Multi-Cap Growth |
Funds that, by portfolio practice, invest in a variety of market capitalization ranges without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. International multi-cap growth funds typically have above-average characteristics compared to the MSCI EAFE Index. |
| International Multi-Cap Value |
Funds that, by portfolio practice, invest in a variety of market capitalization ranges without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. International multi-cap value funds typically have below-average characteristics compared to the MSCI EAFE Index. |
| International Real Estate |
Funds that invest at least 75% of their equity portfolio in shares of companies engaged in the real estate industry that are strictly outside of the U.S. or whose securities are principally traded outside of the U.S. |
| International Small-Cap |
Funds that invest primarily in equity securities of non-United States companies with market capitalizations less than US $1 billion at time of purchase. |
| International Small/Mid-Cap Core |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies strictly outside of the U.S. with market capitalizations (on a three-year weighted basis) below Lipper’s international large-cap floor. International small/ mid-cap core funds typically have average characteristics compared to their small/mid-cap-specific subset the MSCI EAFE Index. |
| International Small/Mid-Cap Growth |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies strictly outside of the U.S. with market capitalizations (on a three-year weighted basis) below Lipper’s international large-cap floor. International small/mid-cap growth funds typically have above-average characteristics compared to their small/mid-cap-specific subset of the MSCI EAFE Index. |
| International Small/Mid-Cap Value |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies strictly outside of the U.S. with market capitalizations (on a three-year weighted basis) below Lipper’s international large-cap floor. International small/mid-cap value funds typically have below-average characteristics compared to their small/mid-cap-specific subset the MSCI EAFE Index. |
| Japanese |
Funds that concentrate their investments in equity securities of Japanese companies. |
| Large-Cap Core |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) above Lipper’s USDE large-cap floor. Large-cap core funds have more latitude in the companies in which they invest. These funds typically have average characteristics compared to the S&P 500 Index. |
| Large-Cap Growth |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) above Lipper’s USDE large-cap floor. Large-cap growth funds typically have above-average characteristics compared to the S&P 500 Index. |
| Large-Cap Value |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) above Lipper’s USDE large-cap floor. Large-cap value funds typically have below-average characteristics compared to the S&P 500 Index. |
| Latin American |
Funds that concentrate their investments in equity securities with primary trading markets or operations concentrated in the Latin American region or in a single country within this region. |
| Loan Participation |
Funds that invest primarily in participation interests in collateralized senior corporate loans that have floating or variable rates. |
| Maryland Municipal Debt |
Funds that limit assets to those securities exempt from taxation in Maryland (double tax-exempt) or city (triple tax-exempt). |
| Massachusetts Municipal Debt |
Funds that limit assets to those securities exempt from taxation in Massachusetts (double tax-exempt) or city (triple tax-exempt). |
| Micro-Cap |
Funds that, by prospectus or portfolio practice, invest primarily in companies with market capitalizations less than $300 million at the time of purchase. |
| Mid-Cap |
Funds that, by prospectus or portfolio practice, invest primarily in companies with market capitalizations less than $5 billion at the time of purchase. |
| Mid-Cap Core |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) below Lipper’s USDE large-cap floor. Mid-cap core funds have more latitude in the companies in which they invest. These funds typically have average characteristics compared to the S&P MidCap 400 Index. |
| Mid-Cap Growth |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) below Lipper’s USDE large-cap floor. Mid-cap growth funds typically have above-average characteristics compared to the S&P MidCap 400 Index. |
| Mid-Cap Value |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) below Lipper’s USDE large-cap floor. Mid-cap value funds typically have below-average characteristics compared to the S&P MidCap 400 Index. |
| Minnesota Municipal Debt |
Funds that limit assets to those securities exempt from taxation in Minnesota (double tax-exempt) or city (triple tax-exempt). |
| Mixed-Asset Target 2010 |
Funds that seek to maximize assets for retirement or other purposes with an expected time horizon not exceeding December 31, 2010. |
| Mixed-Asset Target 2015 |
Funds that seek to maximize assets for retirement or other purposes with an expected time horizon from January 1, 2011 to December 31, 2015. |
| Mixed-Asset Target 2020 |
Funds that seek to maximize assets for retirement or other purposes with an expected time horizon from January 1, 2016 to December 31, 2020. |
| Mixed-Asset Target 2025 |
Funds that seek to maximize assets for retirement or other purposes with an expected time horizon from January 1, 2021 to December 31, 2025. |
| Mixed-Asset Target 2030 |
Funds that seek to maximize assets for retirement or other purposes with an expected time horizon from January 1, 2026 to December 31, 2030. |
| Mixed-Asset Target 2035 |
Funds that seek to maximize assets for retirement or other purposes with an expected time horizon from January 1, 2031 to December 31, 2035. |
| Mixed-Asset Target 2040 |
Funds that seek to maximize assets for retirement or other purposes with an expected time horizon from January 1, 2036 to December 31, 2040. |
| Mixed-Asset Target 2045 |
Funds that seek to maximize assets for retirement or other purposes with an expected time horizon from January 1, 2041 to December 31, 2045. |
| Mixed-Asset Target 2050 |
Funds that seek to maximize assets for retirement or other purposes with an expected time horizon from January 1, 2046 to December 31, 2050. |
| Mixed-Asset Target 2055+ |
Funds that seek to maximize assets for retirement or other purposes with an expected time horizon exceeding December 31, 2050. |
| Mixed-Asset Target 2060 |
Funds that seek to maximize assets for retirement or other purposes with an expected time horizon from January 1, 2056, to December 31, 2060. |
| Mixed-Asset Target 2060+ |
Funds that seek to maximize assets for retirement or other purposes with an expected time horizon exceeding December 31, 2060. |
| Mixed-Asset Target Allocation Aggressive Growth |
Fund of funds that, by portfolio practice, maintain at least 80% of assets in equity securities, with the remainder invested in bonds, cash, and cash equivalents. |
| Mixed-Asset Target Allocation Conservative |
Funds that, by portfolio practice, maintain a mix of between 20%-40% equity securities, with the remainder invested in bonds, cash, and cash equivalents. |
| Mixed-Asset Target Allocation Growth |
Funds that, by portfolio practice, maintain a mix of between 60%-80% equity securities, with the remainder invested in bonds, cash, and cash equivalents. |
| Mixed-Asset Target Allocation Moderate |
Funds that, by portfolio practice, maintain a mix of between 40%-60% equity securities, with the remainder invested in bonds, cash, and cash equivalents. |
| Mixed-Asset Target Today |
Funds that, by portfolio practice, maintain a conservative mix of equity, bonds, cash, and cash equivalents designed to provide income to investors who are in or close to retirement. |
| Money Market Instrument |
Funds that invest in high-quality financial instruments rated in the top two grades with dollar-weighted average maturities of less than 90 days. These funds intend to keep constant net asset value. |
| Multi-Cap Core |
Funds that, by portfolio practice, invest in a variety of market capitalization ranges without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. These funds typically have average characteristics compared to the S&P SuperComposite 1500 Index. |
| Multi-Cap Growth |
Funds that, by portfolio practice, invest in a variety of market capitalization ranges without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Multi-cap growth funds typically have above-average characteristics compared to the S&P SuperComposite 1500 Index. |
| Multi-Cap Value |
Funds that, by portfolio practice, invest in a variety of market capitalization ranges without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time. Multi-cap value funds typically have below-average characteristics compared to the S&P SuperComposite 1500 Index. |
| Multi-Sector Income |
Funds that seek current income by allocating assets among several different fixed income securities sectors (with no more than 65% in any one sector except for defensive purposes), including U.S. government and foreign governments, with a significant portion of assets in securities rated below investment-grade. |
| Natural Resources |
Funds that invest primarily in the equity securities of domestic companies engaged in the exploration, development, production, or distribution of natural resources (including oil, natural gas, and base minerals) and/or alternative energy sources (including solar, wind, hydro, tidal, and geothermal). |
| New Jersey Municipal Debt |
Funds that limit assets to those securities exempt from taxation in New Jersey (double tax-exempt) or city (triple tax-exempt). |
| New York Intermediate Municipal Debt |
Funds that invest primarily in municipal debt issues that are exempt from taxation in New York, with dollar-weighted average maturities of five to ten years. |
| New York State Municipal Debt |
Funds that limit assets to those securities exempt from taxation in New York state (double tax-exempt) or city (triple tax-exempt). |
| New York Tax-Exempt Money Market |
Funds that invest in municipal obligations of New York state (double tax-exempt) or city (triple tax-exempt) with dollar-weighted average maturities of less than 90 days. These funds intend to keep constant net asset value. |
| Ohio Municipal Debt |
Funds that limit assets to those securities exempt from taxation in Ohio (double tax-exempt) or city (triple tax-exempt). |
| Options Arbitrage/Option Strategies |
Funds that employ various strategies to capture “the spread” between similar options through inefficiencies in the market or funds and use portfolio strategies where the manager focuses on options to generate the bulk of the portfolio’s return. |
| Other State Municipal Debt |
Funds that limit assets to those securities exempt from taxation in a single specified state (double tax-exempt) or city (triple tax-exempt). |
| Other States Intermediate Municipal Debt |
Funds that invest in municipal debt issues with dollar-weighted average maturities of five to ten years and are exempt from taxation on a specified city or state basis. |
| Other States Short/Intermediate Municipal Debt |
Funds that invest in municipal debt issues with dollar-weighted average maturities of one to five years and are exempt from taxation on a specified city or state basis. |
| Other States Tax-Exempt Money Market |
Funds that invest in municipal obligations of a particular state (double tax-exempt) or city (triple tax-exempt) with dollar-weighted average maturities of less than 90 days. These funds intend to keep constant net asset value. |
| Pacific Ex-Japan |
Funds that concentrate their investments in equity securities with primary trading markets or operations concentrated in the Pacific region (including Asian countries) and that specifically do not invest in Japan. |
| Pacific Region |
Funds that concentrate their investments in equity securities with primary trading markets or operations concentrated in the Western Pacific Basin region or a single country within this region. |
| Pennsylvania Municipal Debt |
Funds that limit assets to those securities exempt from taxation in Pennsylvania (double tax-exempt) or city (triple tax-exempt). |
| Precious Metals Equity |
Funds that invest primarily in equity securities and non-equity-related instruments of the precious metals market. This can include investments in the mining, exploration, or distribution of gold and other precious metals. Funds may also hold bullion. |
| Real Estate |
Funds that invest their equity portfolio primarily in shares of domestic companies engaged in the real estate industry. |
| Real Return |
Funds that seek to maximize real return through investing primarily in domestic and foreign inflation- protected securities across asset classes. |
| Retirement Income |
Funds designed to combine professional asset management with professionally managed withdrawals to assist investors in retirement. |
| S&P 500 Index |
Funds that are passively managed and commit by prospectus language to replicate the performance of the S&P 500 Index (including reinvested dividends). In addition, S&P 500 Index funds have limited expenses (advisor fee no higher than 0.50%). |
| S&P Midcap 400 Index |
Funds that are passively managed and are designed to replicate the performance of the S&P Midcap 400 Index. |
| Science and Technology |
Funds that invest primarily in the equity securities of domestic companies engaged in science and technology. |
| Short High Yield |
Funds that aim at high (relative) current yield from domestic fixed income securities, with dollar-weighted average maturities of less than three years, and tend to invest in lower-grade debt issues. |
| Short Municipal Debt |
Funds that invest in municipal debt issues with dollar-weighted average maturities of less than three years. |
| Short U.S. Government |
Funds that invest primarily in securities issued or guaranteed by the U.S. government, its agencies, or its instrumentalities, with dollar-weighted average maturities of less than three years. |
| Short U.S. Treasury |
Funds that invest primarily in U.S. Treasury bills, notes, and bonds with dollar-weighted average maturities of less than three years. |
| Short-Intermediate Investment-Grade Debt |
Funds that invest primarily in investment-grade debt issues (rated in the top four grades) with dollar-weighted average maturities of one to five years. |
| Short-Intermediate U.S Government |
Funds that invest primarily in securities issued or guaranteed by the U.S. government, its agencies, or its instrumentalities, with dollar-weighted average maturities of one to five years. |
| Short-Investment-Grade Debt |
Funds that invest primarily in investment-grade debt issues (rated in the top four grades) with dollar-weighted average maturities of less than three years. |
| Short/Intermediate Municipal Debt |
Funds that invest in municipal debt issues with dollar-weighted average maturities of one to five years. |
| Small-Cap |
Fund that, by prospectus or portfolio practice, invest primarily in companies with market capitalizations less than $1 billion at the time of purchase. |
| Small-Cap Core |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) below Lipper’s USDE small-cap ceiling. Small-cap core funds have more latitude in the companies in which they invest. These funds typically have average characteristics compared to the S&P SmallCap 600 Index. |
| Small-Cap Growth |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) below Lipper’s USDE small-cap ceiling. Small-cap growth funds typically have above-average characteristics compared to the S&P SmallCap 600 Index. |
| Small-Cap Value |
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) below Lipper’s USDE small-cap ceiling. Small-cap value funds typically have below-average characteristics compared to the S&P SmallCap 600 Index. |
| Specialty and Miscellaneous |
Funds that limit investments to a specific industry (e.g., retailing, paper, etc.) or ones that have not been classified into an existing investment objective. |
| Specialty Diversified Equity |
Funds that, by portfolio practice, invest in all market capitalization ranges without restriction. These funds typically have distinctly different strategies and performance, resulting in a low coefficient of determination (r-squared) compared to other U.S. diversified equity funds. |
| Specialty Fixed-Income |
Funds that, by portfolio practice, invest in fixed income strategies that are outside Lipper’s other fixed income classifications. These funds typically have distinctly different performance and strategies, including the use of short positions and leverage. |
| Stable Value |
Funds that aim to provide income while limiting price fluctuations by investing primarily in guaranteed investment contracts (GICs) or wrapped bonds (synthetic GICs). |
| Tax-Exempt Money Market |
Funds that invest in high-quality municipal obligations with dollar-weighted average maturities of less than 90 days. These funds intend to keep constant net asset value. |
| Telecommunication |
Funds that invest primarily in the equity securities of domestic and foreign companies engaged in the development, manufacture, or sale of telecommunications services or equipment. |
| U.S. All Market Stock |
A super-category, defined by Personal Fund, that includes Multi-Cap Core, Multi-Cap Growth and Multi-Cap Value funds. |
| U.S. Government Money Market |
Funds that invest principally in financial instruments issued or guaranteed by the U.S. government, its agencies, or its instrumentalities, with dollar-weighted average maturities of less than 90 days. These funds intend to keep constant net asset value. |
| U.S. Large-Cap |
A super-category, defined by Personal Fund, that includes Large-Cap Core, Large-Cap Growth, Large-Cap Value and S+P 500 Index funds. |
| U.S. Mid-Cap |
A super-category, defined by Personal Fund, that includes Mid-Cap Core, Mid-Cap Growth and Mid-Cap Value funds. |
| U.S. Mortgage |
Funds that invest primarily in mortgages/securities issued or guaranteed as to principal and interest by the U.S. government and certain federal agencies. |
| U.S. Small-Cap |
A super-category, defined by Personal Fund, that includes Small-Cap Core, Small-Cap Growth and Small-Cap Value funds. |
| U.S. Treasury Money Market |
Funds that invest principally in U.S. Treasury obligations with dollar-weighted average maturities of less than 90 days. These funds intend to keep a constant net asset value. |
| Ultra Short Obligation |
Funds that invest primarily in investment-grade debt issues or better and maintain a portfolio dollar-weighted average maturity between 91 days and 365 days. |
| Utility |
Funds that invest primarily in the equity securities of domestic and foreign companies providing utilities. |
| Virginia Municipal Debt |
Funds that limit assets to those securities exempt from taxation in Virginia (double tax-exempt) or city (triple tax-exempt). |
