Overview
A
Shares
BGVAX
Inception
Date
10.09.1992
Investment
Min.
$1,000
Subsequent
Investment Min.1
N/A
Max. Up Front
Sales Charge
2%
Max. Deferred
Sales Charge
N/A
1If subsequent investments are made as part of an AIP, the minimum is $25.
Philosophy & Process
The Fund seeks current income consistent with the preservation of capital.
The Fund invests, under normal market conditions, in U.S. Government Securities, some of which may be subject to repurchase agreements, or in "high grade" (rated at the time of purchase in one of the three highest rating categories by a nationally recognized statistical rating organization or are determined by the portfolio manager to be of comparable quality) mortgage-backed securities, including collateralized mortgage obligations.
Investment Considerations
The fund is subject to the same risks as the underlying bonds in the portfolio such as credit, prepayment, call and interest rate risk. As interest rates rise the value of bond prices will decline and an investor may lose money. The fund may invest in mortgage backed securities which tend to be more sensitive to changes in interest rates. The fund invests in U.S. Government securities or its agencies (such as Fannie Mae or Freddie Mac securities). Although U.S. Government Securities issued directly by the U.S. Government are guaranteed by the U.S. Treasury, other U.S. Government Securities issued by an agency or instrumentality of the U.S. government may not be. No assurance can be given that the U.S. government would provide financial support to its agencies and instrumentalities if not required to do so by law.
Term | Class A Shares | Class C Shares | Class I Shares |
---|---|---|---|
Ticker | BGVAX | BIUCX | BBGVX |
Inception Date | 10.09.1992 | 02.01.2001 | 10.09.1992 |
Investment Min. | $1,000 | $1,000 | $1,000,000 |
Subsequent Investment Min.2 | N/A | N/A | N/A |
Max. Up Front Sales Charge | 2% | N/A | N/A |
Max. Deferred Sales Charge | N/A | 1% | N/A |
2If subsequent investments are made as part of an AIP, the minimum is $25.
Performance
Term | QTR | YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception |
---|---|---|---|---|---|---|---|
A Shares with 2.00% Sales Charge | -3.74% | -2.58% | -1.54% | -4.76% | -0.60% | 0.04% | 3.30% |
A Shares without Sales Charge | -1.82% | -0.64% | 0.43% | -4.11% | -0.20% | 0.24% | 3.36% |
Institutional Shares | -1.64% | -0.34% | 0.80% | -3.86% | 0.05% | 0.49% | 3.62% |
Lipper Intermediate U.S. Gov't Median | -3.57% | -2.38% | -0.99% | -5.25% | -0.47% | 0.35% | N/A |
The gross expense ratios for Class A, C and I Shares are 0.95%, 1.70% and 0.70%, respectively. The net expense ratios for Class A, C and I Shares are 0.75%, 1.50% and 0.50%, respectively.
The Advisor has contractually agreed to limit certain fees paid by the Fund from February 1, 2021 through January 31, 2022. Performance would have been lower without limitations in effect.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit the performance summary.
The performance of the Intermediate U.S. Government Fund reflects the deduction of fees for value-added services associated with a mutual fund, such as investment management and fund accounting fees. The inception date for Class A Shares is 10/9/92. The inception date for Class A Shares is 10.09.1992. The inception date for Class C Shares is 02.01.2001. The inception date for Class Inst'l Shares is 10.09.1992. The performance of Class C Shares is based on the historical performance of Class A Shares, adjusted to reflect the 1% contingent deferred sales charge. Performance does not reflect Class C Share 12b-1 fees or expenses. Performance of Institutional Shares prior to inception is based on the performance of Class S Shares of the Fund which were re-designated as Institutional Shares as of February 1, 2013. With those adjustments, performance would be lower. The performance shown reflects the reinvestment of all dividend and capital gains distributions.
Characteristics
Quality Breakdown as of 09.30.2023
Credit quality ratings using Moody's rating symbols reflect the credit quality of the underlying bonds in the fund portfolio and not of the Fund itself. Moody's assigns a range of ratings from AAA being the highest quality to C being the lowest rated class of bonds. Securities not rated by Moody's may be rated by S&P, Fitch or if no agency rating is available, the Fund will assign a rating of not rated. Bond quality ratings are subject to change.
Name | Value |
---|---|
0-1 Yr. | 2.0 |
1-2 Yr. | 14.0 |
2-3 Yr. | 12.0 |
3-5 Yr. | 32.0 |
5-10 Yr. | 38.0 |
Current and future portfolio holdings are subject to change and risk. Based on Market Value of securities.
Name | Value |
---|---|
Number of Holdings | 89 |
Average Life | 5.64 Years |
Effective Duration | 4.28 Years |
Annual Turnover | 8% |
Composition | Fund | Index |
---|---|---|
Corporate | 2.2% | 0.0% |
Financial Institutions | 1.8% | 0.0% |
Utility | 0.4% | 0.0% |
Government Related | 14.3% | 2.8% |
Agency | 13.6% | 2.8% |
Local Authority | 0.7% | 0.0% |
Securitized | 73.2% | 0.0% |
ABS | 2.0% | 0.0% |
CMBS | 20.2% | 0.0% |
CMO | 20.7% | 0.0% |
MBS Passthrough | 30.3% | 0.0% |
Treasury | 9.5% | 97.2% |
Treasury | 9.5% | 97.2% |
Cash | 0.8% | 0.0% |
Cash | 0.8% | 0.0% |
# | Company Name | Value |
---|---|---|
1 | FNMA 6.25% 15-May-2029 | 6.65% |
2 | U.S. Treasury 1.125% 15-Feb-2031 | 5.51% |
3 | FNMA 7.125% 15-Jan-2030 | 3.45% |
4 | U.S. Treasury 0.25% 30-Sep-2025 | 3.29% |
5 | FHLBS 1.2% 30-DEC-2024 | 2.88% |
6 | FHLMC Remic Series K-061 3.347% 25-NOV-2026 | 2.87% |
7 | FNMA-ACES, SERIES 2015-M17,2 | 2.37% |
8 | FNMA Remic Trust 2017-M7 | 2.23% |
9 | FNMA Remic Trust 2018-M10 | 2.21% |
10 | FHLMC, SERIES 4601, CLASS NJ | 2.10% |
Current and future portfolio holdings are subject to change and risk. Based on Market Value of securities.
Growth of $10,000 as of 09.30.2023
The Growth of $10,000 is hypothetical based upon the performance of net A Shares at NAV for the period ended 09.30.2023. It includes the reinvestment of dividends and capital gains.
Distribution
Month | Class A Shares | Class C Shares | Class Inst'l Shares |
---|---|---|---|
November 2023 | $0.0195 | $0.0143 | $0.0212 |
October 2023 | $0.0194 | $0.0141 | $0.0211 |
September 2023 | $0.0189 | $0.0137 | $0.0206 |
August 2023 | $0.0182 | $0.0128 | $0.0200 |
July 2023 | $0.0178 | $0.0123 | $0.0196 |
June 2023 | $0.0173 | $0.0120 | $0.0191 |
May 2023 | $0.0172 | $0.0118 | $0.0190 |
April 2023 | $0.0171 | $0.0117 | $0.0189 |
March 2023 | $0.0172 | $0.0117 | $0.0191 |
February 2023 | $0.0170 | $0.0120 | $0.0186 |
January 2023 | $0.0173 | $0.0121 | $0.0192 |
December 2022 | $0.0173 | $0.0118 | $0.0191 |
Share Class | Without Waivers | With Waivers |
---|---|---|
Class A | 3.23% | 3.44% |
Class C | 2.55% | 2.76% |
Class I | 3.55% | 3.76% |
Intermediate U.S. Government Fund
Materials
Fixed Income Funds
Insights
Contact
Learn more about Sterling Capital solutions and services.