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Fund
Overview |
Performance |
Fund Management
Download Quarterly Fact Sheet* *You will need Adobe Acrobat to view and print the fact sheet.
FUND
OVERVIEW
Investment Objectives and Policies
Who Should
Invest
The Bishop Street High Grade Income Fund can help you achieve this since it invests in a portfolio of high quality government and corporate bonds. You might consider this Fund for a portion of your portfolio if you're seeking to:
Investment Strategy
We emphasize a diversified, quality-oriented approach, investing in U.S. Government, Agency and investment grade Corporate bonds. The U.S. Treasury issues bonds when they need to pay for a wide range of government activities. Highly regarded corporations who have a need to raise capital for expansion, cover operating expenses, finance corporate takeovers or other changes in management structure issue Investment Grade Corporate Bonds.
There are different categories within bonds. The graph below illustrates the potential returns and associated risk with the various types of bonds.
We further reduce risk by staggering maturities of bonds, also known as "laddering." To further enhance returns we shorten or lengthen bond maturities and shift between government and corporate securities.
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Portfolio Characteristics |
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Investment Grade: Standard & Poor's/Moody's rating of BBB/Bbb or better, or unrated equivalent. Moderate Volatility: Average duration* of investments is 5 to 7 years Intermediate Maturities: Average maturity is 7 to 10 years. Competitive Yield: With monthly dividends. Diversified Investments: Government, Agency and Corporate Notes and Bonds. *Measure of price sensitivity of a fixed income security |
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Inception Date |
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Class I -
1/30/1997
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Maximum Sales Charges |
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Institutional Shares - No Load
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Ticker Symbols |
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Institutional Shares - BSHGX
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Composition | as of Dec 31, 2008 | ||
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 | Fixed Income | 99.8% |
 | Cash Equivalents | 0.2% |
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Average Weighted Maturity |
as of Dec 31, 2008 |
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7.79 Years
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Duration |
as of Dec 31, 2008 |
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5.74 Years
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Sector Diversification | as of Dec 31, 2008 | ||
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| Corporate Bonds | 45.9% |
| U.S. Treasury Instruments | 28.0% |
 | U.S. Agency Bonds | 11.3% |
 | Unknown | 4.8% |
 | FHLMC | 3.8% |
 | FNMA | 2.5% |
 | Municipal Bonds | 1.5% |
 | GNMA | 1.2% |
 | Asset Backed Securities | 0.8% |
 | STIFs/Money Markets | 0.2% |
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Top Holdings | as of Dec 31, 2008 |
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| Percentage of Portfolio Assets (Based on Market Value) | |
| U.S. TREASURY BOND | 5.1% |
| U.S. TREASURY BOND | 3.2% |
| U.S. TREASURY BOND | 2.9% |
| U.S. TREASURY BOND | 2.1% |
| FNMA 7.25% 01/15/10 | 1.9% |
| U.S. TREASURY BOND | 1.8% |
| FHLMC POOL # 4 1/4 | 1.6% |
| U.S. TREASURY NOTE | 1.6% |
| IBM CORP 8.375% 11/01/19 | 1.5% |
| HYDRO-QUEBEC YB | 1.4% |
Holdings are subject to change.
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PERFORMANCE |
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All figures are as of Dec 31, 2008 (Institutional Shares) |
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Net Asset Value |
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| Class I $10.56 |
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Total Net Assets |
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| Class I $121,769,045 |
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Total Return |
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| Description | 3 Month | Year To Date | 1 year |
Annualized 3 years |
Annualized 5 years |
Annualized 10 years |
Annualized Since Inception |
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| Class I | 6.88% | 8.53% | 8.53% | 6.03% | 4.69% | 5.06% | 5.66% | |
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The performance data quoted represents past performance. Past performance does not guarantee future results. 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 their original cost and current performance may be lower or higher than the performance quoted. For performance data current to the most recent month end, please click here or call 1-800-262-9565. Bond and bond funds will decrease in value as interest rates rise. Currently the High Grade Income Fund Class I Shares gross expense ratio is 1.12% and net expense ratio is 0.76%. All fee waivers are voluntary and may discontinue at any time. | ||||||||
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Growth of a $10,000 Investment |
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| (Since Inception Date: 1/30/1997) |
| Account value if you reinvested income and capital gains $19,283 |
| Account value if you took income and capital gains in cash $10,560 |
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FUND MANAGEMENT |
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About Bishop Street Funds Investment Management |
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Bishop Street Capital Management, a registered investment adviser and independent subsidiary of BancWest Corporation and First Hawaiian Bank, serves as investment adviser to the Bishop Street Funds.
As of December 31, 2007, Bishop Street Capital Management manages $2.6 billion in assets for institutional investors and their consultants in Hawaii, the Pacific Rim and the Mainland U.S. BancWest Corporation, the parent company of Bishop Street Capital Management, First Hawaiian Bank and Bank of the West, is a bank holding company with total assets of $74 billion as of December 31, 2007. Investment Philosophy Our goal is to help you build the assets you have worked hard to accumulate. Our investment strategy is designed to emphasize and deliver quality investments to shareholders, manage risk and deliver consistent performance. |
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Disclosure |
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To determine if the Funds are an appropriate investment for you, carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and other information can be found in the Funds' prospectus, which may be viewed and downloaded by clicking the link above or by calling 1-800-262-9565. Please read the prospectus carefully before investing. Bishop Street Capital Management, an investment subsidiary of First Hawaiian Bank, serves as investment adviser for the Bishop Street Funds. The Bishop Street Funds are distributed by SEI Investments Distribution Co., which is not affiliated with BancWest Corporation. Securities offered through BancWest Investment Services, a registered broker dealer, member FINRA/SIPC. Investment professionals are registered representatives of BancWest Investment Services. NOT FDIC INSURED. NO BANK GUARANTEE. MAY LOSE VALUE.
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