Overview

Flexible multisector bond fund with historically strong performance in various market environments

Objective

PTIAX is a multi-sector bond fund that seeks to provide income and capital appreciation by investing in undervalued domestic fixed income securities.

Types of Investments

The Fund can invest in a variety of domestic fixed income sectors including mortgage-backed securities (MBS), corporates, municipals, other structured credit securities, treasuries, and cash.

Performance

Total Returns as of YTD 1-Year 3-Year 5-Year Since Inception Inception Date
Total Returns as of YTD 1-Year 3-Year 5-Year Since Inception Inception Date

As of 6/30/2017

PTIAX BBgBarc Aggregate Bond Index Morningstar Multisector Bond Category

PTIAX Growth of $10K

Portfolio

PTIAX Portfolio Composition

As of 6/30/2017

Non-Agency RMBS
46.5%

Tax-Exempt Municipal
17.9%

Taxable Municipal
16.7%

CMBS
11.6%

CLOs
2.1%

Corporates
2.3%

U.S. Treasuries
2.1%

Cash
0.9%

Fund Characteristics
# of Holdings 529
Average Coupon 4.15%
Average Effective Maturity 8.34
Correlation with S&P 500
(7/1/2014-6/30/2017)
0.01

As of 6/30/2017

3-Year PTIAX BBgBarc Aggregate Bond Index1
Std. Deviation (%)3 2.14 2.90
Sharpe Ratio4 2.27 0.77
Sortino Ratio5 4.55 1.25

As of 6/30/2017

Management Team

G. Michael Plaiss

G. Michael Plaiss, CFA

Senior Portfolio Manager

Anthony Harris

Anthony Harris

Senior Portfolio Manager

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Key Statistics As Of

Total Assets:

30-Day SEC Yield2

Class Subsidized Unsubsidized