Morningstar Ratings & Rankings

  Morningstar Ratings™ as of 1/31/2017

Fund Name/
Inception Date
Category
Rating / Number of funds in the category
3-Year
5-Year
10-Year
Overall
Rating
Value Fund - Investor Class
(05/09/1986)
Large Growth

out of 1313

out of 1162

out of 806

out of 1313
Value Fund- Institutional Class
(05/09/1986)
Large Growth

out of 1313

out of 1162

out of 806

out of 1313
Partners Value Fund - Investor Class
(06/01/1983)
Large Blend

out of 1256

out of 1108

out of 822

out of 1256
Partners Value Fund- Institutional Class
(06/01/1983)
Large Blend

out of 1256

out of 1108

out of 822

out of 1256
Partners III Opportunity Fund - Investor Class
(06/01/1983)
Long-Short Equity

out of 168

out of 79

out of 26

out of 168
Partners III Opportunity Fund - Institutional Class
(06/01/1983)
Long-Short Equity

out of 168

out of 79

out of 26

out of 168
Research Fund
(04/01/2005)
Mid-Cap Growth

out of 585

out of 503
n/a

out of 585
Hickory Fund
(04/01/1993)
Mid-Cap Blend

out of 379

out of 337

out of 219

out of 379
Balanced Fund
(10/01/2003)
Allocation--30% to 50% Equity

out of 417

out of 361

out of 241

out of 417
Short Duration Income Fund - Investor Class
(12/23/1988)
Short-Term Bond

out of 453

out of 361

out of 261

out of 453
Short Duration Income Fund - Institutional Class
(12/23/1988)
Short-Term Bond

out of 453

out of 361

out of 261

out of 453
Nebraska Tax-Free Income Fund
(10/01/1985)
Muni Single State Interm

out of 159

out of 142

out of 127

out of 159
Ratings are based on risk-adjusted returns and are historical and do not represent future results. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-year, five-year, and ten-year (if applicable) Morningstar Ratings metrics.
Please note, some of the Morningstar proprietary calculations, including the Morningstar Rating™, are not customarily calculated based on adjusted historical returns. The evaluation of this investment does not affect the retail mutual fund data published by Morningstar. For each retail mutual fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a retail mutual fund is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics. This investment’s independent Morningstar Rating metric is then compared against the retail mutual fund universe breakpoints to determine its hypothetical rating. 
© 2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Ratings are based on risk-adjusted returns and are historical and do not represent future results. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-year, five-year, and ten-year (if applicable) Morningstar Ratings metrics.
Please note, some of the Morningstar proprietary calculations, including the Morningstar Rating™, are not customarily calculated based on adjusted historical returns. The evaluation of this investment does not affect the retail mutual fund data published by Morningstar. For each retail mutual fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a retail mutual fund is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics. This investment’s independent Morningstar Rating metric is then compared against the retail mutual fund universe breakpoints to determine its hypothetical rating. 
© 2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Morningstar Rankings™ as of 1/31/2017

Fund Name/
Inception Date
Category
Ranking / Number of funds in the category
Percentile Ranking
1-Year
3-Year
5-Year
10-Year
Value Fund - Investor Class
(05/09/1986)
Large Growth
1301 / 1462
89
1261 / 1313
96
1075 / 1162
92
794 / 806
98
Partners Value Fund - Investor Class
(06/01/1983)
Large Blend
1040 / 1415
73
1239 / 1256
98
1009 / 1108
91
731 / 822
89
Partners III Opportunity Fund - Investor Class
(06/01/1983)
Long-Short Equity
31 / 305
10
78 / 168
46
15 / 79
18
n/a
Partners III Opportunity Fund - Institutional Class
(06/01/1983)
Long-Short Equity
28 / 305
9
68 / 168
40
13 / 79
16
7 / 26
24
Research Fund
(04/01/2005)
Mid-Cap Growth
246 / 641
38
417 / 585
71
400 / 503
79
n/a
Hickory Fund
(04/01/1993)
Mid-Cap Blend
322 / 431
74
337 / 379
89
305 / 337
90
196 / 219
89
Balanced Fund
(10/01/2003)
Allocation--30% to 50% Equity
408 / 517
79
286 / 417
68
77 / 361
21
163 / 241
67
Short Duration Income Fund - Investor Class
(12/23/1988)
Short-Term Bond
97 / 526
19
126 / 453
28
111 / 361
31
n/a
Short Duration Income Fund - Institutional Class
(12/23/1988)
Short-Term Bond
75 / 526
14
74 / 453
16
76 / 361
21
27 / 261
10
Nebraska Tax-Free Income Fund
(10/01/1985)
Muni Single State Interm
71 / 161
44
159 / 159
100
131 / 142
92
108 / 127
85
Morningstar Ranking / # of Funds in Category displays the fund's actual rank within its Morningstar Category based on average annual total return and number of Funds in that Category.
The Morningstar Percentile Ranking compares a Fund's Morningstar risk and return scores with all the Funds in the same Category, where 1% = Best and 100% = Worst.
Morningstar Ranking / # of Funds in Category displays the fund's actual rank within its Morningstar Category based on average annual total return and number of Funds in that Category.
The Morningstar Percentile Ranking compares a Fund's Morningstar risk and return scores with all the Funds in the same Category, where 1% = Best and 100% = Worst.