Overview
A
Shares
BWVAX
Inception
Date
07.23.2001
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 exempt from federal and West Virginia income taxes consistent with preservation of capital.
In managing the Fund, the team specializes in actively building and managing a high credit quality fixed income portfolio focused on the intermediate segment of the yield curve offering. The team employs a top-down investment process that focuses on: duration management, yield curve strategy and finding the best relative value with limited amount of risk in order to maximize the risk-adjusted total return.
Buy Strategy: We buy high quality, liquid issues and seek the best relative sector and security values available. We attempt to maximize total return and current income while reducing price volatility.
Sell Strategy: We will consider selling a security we own in order to reposition the Fund along the yield curve and adjust the Fund's average maturity or duration. In addition, we might replace a security with one that offers greater potential for total return or when its credit fundamentals are deteriorating.
Investment Considerations
The Funds are subject to the same risks as the underlying bonds in the portfolios such as credit, prepayment and interest rate risk. As interest rates rise, the value of bond prices will decline, and an investor may lose money. The Funds are non-diversified and may invest a greater percentage of its assets in a single issuer than funds that are more diversified. Furthermore, the Funds invest primarily in state-specific municipal obligations of issuers and therefore will be affected by economic, political or other events affecting municipal issuers.
| Term | Class A Shares | Class C Shares | Class I Shares |
|---|---|---|---|
| Ticker | BWVAX | BWVCX | OWVAX |
| Inception Date | 07.23.2001 | 02.01.2012 | 02.01.1993 |
| 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.
Co-Portfolio Manager
Co-Portfolio Manager
Performance
| Term | QTR | YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception |
|---|---|---|---|---|---|---|---|
| A Shares with 2.00% Sales Charge | -2.25% | -2.25% | 1.58% | 1.64% | 0.21% | 1.21% | 3.25% |
| A Shares without Sales Charge | -0.30% | -0.30% | 3.64% | 2.31% | 0.62% | 1.41% | 3.32% |
| Institutional Shares | -0.24% | -0.24% | 3.90% | 2.57% | 0.87% | 1.67% | 3.60% |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A |
The total expense ratios for Class A, C and I Shares are 0.86%, 1.61% and 0.61%, respectively.
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 Sterling Capital West Virginia Intermediate Tax-Free 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 07.23.2001. The inception date for Class C Shares is 02.01.2012. The inception date for Class Inst'l Shares is 02.01.1993. The performance shown reflects the reinvestment of all dividend and capital gains distributions. Performance is annualized for periods greater than one year.
Characteristics
Quality Breakdown as of 03.31.2026
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 |
|---|---|
| 0-2 Years | 13.57 |
| 2-4 Years | 27.29 |
| 4-6 Years | 4.68 |
| 6-8 Years | 36.25 |
| 8-10 Years | 17.21 |
| 10+ Years | 0.99 |
Current and future portfolio holdings are subject to change and risk. Based on Market Value of securities.
| Name | Value |
|---|---|
| Number of Holdings | 44 |
| Average Life | 8.02 Years |
| Effective Duration | 5.08 Years |
| Annual Turnover3 | 16% |
3Annual Turnover Ratio reflects a 12-month rolling calculation and is presented as of 09.30.2025, the most recent fiscal year end.
| Composition | Fund | Index |
|---|---|---|
| General Obligation | 42.5% | 24.0% |
| Pre-Refunded | 0.0% | 0.8% |
| Revenue | 57.1% | 75.2% |
| Cash | 0.4% | 0.0% |
| # | Company Name | Value |
|---|---|---|
| 1 | West Va Pkwys Auth Tpk Toll Rev 5.0% 01-jun-2047 | 4.27% |
| 2 | Berkeley Cnty W Va Brd Ed 4.0% 01-jun-2036 | 3.76% |
| 3 | West Virginia Univ Revs 5.0% 01-oct-2043 | 3.55% |
| 4 | Putnam Cnty W Va Brd Ed 5.0% 01-jun-2037 | 3.53% |
| 5 | West Va Economic Dev Auth Univ Facs Rev 5.0% 01-jul-2037 | 3.38% |
| 6 | Wood Cnty W Va Brd Ed 4.5% 01-jun-2034 | 3.35% |
| 7 | West Virginia St 5.0% 01-jun-2045 | 3.28% |
| 8 | West Virginia St Hosp Fin Auth Hosp Rev 5.0% 01-sep-2039 | 3.09% |
| 9 | Marshall Univ W Va Univ Revs 5.0% 01-may-2030 | 3.08% |
| 10 | Ohio Cnty W Va Cnty Commn Tax Increment Rev 5.25% 01-jun-2044 | 2.73% |
Current and future portfolio holdings are subject to change and risk. Based on Market Value of securities.
Growth of $10,000 as of 03.31.2026
The Growth of $10,000 is hypothetical based upon the performance of net A Shares at NAV for the period ended 03.31.2026. It includes the reinvestment of dividends and capital gains.
Distribution
| Month | Class A Shares | Class C Shares | Class Inst'l Shares |
|---|---|---|---|
| April 2026 | $0.0209 | $0.0163 | $0.0229 |
| March 2026 | $0.0214 | $0.0166 | $0.0234 |
| February 2026 | $0.0193 | $0.0141 | $0.0212 |
| January 2026 | $0.0214 | $0.0157 | $0.0235 |
| December 2025 | $0.0214 | $0.0157 | $0.0234 |
| November 2025 | $0.0204 | $0.0153 | $0.0224 |
| October 2025 | $0.0209 | $0.0158 | $0.0230 |
| September 2025 | $0.0199 | $0.0153 | $0.0219 |
| August 2025 | $0.0208 | $0.0158 | $0.0228 |
| July 2025 | $0.0210 | $0.0159 | $0.0230 |
| June 2025 | $0.0207 | $0.0154 | $0.0227 |
| May 2025 | $0.0208 | $0.0159 | $0.0228 |
| Share Class | Value |
|---|---|
| Class A | 2.65% |
| Class C | 2.12% |
| Class I | 2.96% |
West Virginia Intermediate Tax-Free Fund
Materials
Fixed Income Funds
Insights
04.29.2026
The Sterling Capital VAULT: AI Datacenter Risk
The Fixed Income team's insight on AI and related datacenter buildout.
12.09.2025
Gregory Zage, CFA®, Justin Nicholson
The Sterling Capital VAULT: Passive Investing is NOT Static Investing
Gregory Zage and Justin Nicholson discuss the risks of passive investing.
12.09.2025 • James Kerin, CFA®
The Sterling Capital VAULT: Return of the Term Premium
James Kerin's update on term premium in 2025.
10.30.2025 • Andrew Richman, CTFA
Fed Cuts Rates Again, But Additional Cuts Are Not Guaranteed
Andy Richman's update following the October Federal Open Market Committee meeting.
09.24.2025 • Tom O'Toole
The Sterling Capital VAULT: U.S. Housing
Tom O'Toole's update on U.S Housing since 2020.
08.25.2025 • Andrew Richman, CTFA
Powell Puts September Rate Cuts Firmly In Play
Andy Richman's update on the upcoming September Federal Open Market Committee meeting.
Contact
Learn more about Sterling Capital solutions and services.
