Short Duration Income Fund : Overview

Fund Statistics

As of December 31, 2016
Total net assets (in millions) $1,097.8
Net Asset Value (NAV 03/24/2017): $12.35
Expense Ratio (09/30/2016) *: 0.62%
Sales Charges: None
Redemption Charge: None
Minimum Investment:** $1,000,000
Ticker Symbol: WEFIX
CUSIP Number: 94904P302
Fund Number: 329
Inception Date: December 23, 1988
Fund Manager:
As of February 28, 2017

Morningstar Rating :

Morningstar Style Box : Short-Term Bond Morningstar Style Box

Short Duration Income Fund Objective

The Short Duration Income Fund is a bond fund with an investment objective of generating current income consistent with preserving capital. Under normal circumstances, the fund invests at least 80% of its assets in debt securities, which may include U.S. Government and agency securities, corporate bonds, mortgage-backed securities, asset-backed securities and securities issued by foreign governments.  The Fund may invest up to 15% of its total assets in debt securities which are non-investment grade or unrated.  The Fund may also invest in derivative instruments.  The Fund may also invest in common stocks, preferred stocks and securities convertible into stocks.

Effective December 16, 2016, the Short Duration Income Fund expects to manage its portfolio to have an average effective duration of between one and 3½ years.

*Actual annualized expense ratio for the six months ended September 30, 2016 was 0.62%. The investment adviser has agreed in writing to waive its fees and reimburse certain expenses (excluding taxes, interest, brokerage costs, acquired fund fees and expenses and extraordinary expenses) to limit the total annual fund operating expenses for Institutional Class shares and Investor Class shares to 0.48% and 0.68%, respectively, of each Class’ average daily net assets through July 31, 2018.  This agreement may only be terminated by the Board of Trustees of the Fund. 
**As of July 31, 2014
The Morningstar Style Box shows a fund’s investment style. The vertical axis shows average credit quality as measured by third party rating agencies: High means AA or better, Medium means at least BBB but less than AA, and Low means below BBB. The horizontal axis shows average effective duration: Ltd means less than 3.5 years, Mod means at least 3.5 years but less than 6 years, and Ext means more than 6 years.
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