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FUND OVERVIEW

 

Investment Objectives and Policies

The investment objective of this fund is to seek long term capital appreciation.

Who Should Invest

The Bishop Street Strategic Growth Fund might be a good choice for you if youíre seeking to:
  • Invest for a long-term goal such as retirement.
  • Diversify the equity portion of your portfolio.
  • Participate in the growth potential of the stock market, and are willing to accept the risk of high share price volatility.
  • Hedge against inflation.
Investment Strategy
The Strategic Growth Fund invests primarily in U.S. common stocks that the Sub-Adviser believes have potential for capital appreciation. The Fund's portfolio is comprised of approximately fifty equally-weighted stocks. The Fund expects to remain as fully invested in the above securities as practicable.

The Sub-Adviser's model focuses on "growth" stocks. These are stocks that our Sub-Adviser believes have above-average potential for long-term capital appreciation based on factors, such as, improving earnings, growth in book value, and valuation. The Fund's portfolio manager reviews portfolio weights on a daily basis to maintain approximately equal weightings of the stocks in the Fund's portfolio. The Sub-Adviser expects the Fund to experience a low level of portfolio turnover.

Industry Diversification

This refers to investing assets over various industry sectors such as financial services, pharmaceuticals, and technology companies. Diversification is important at this level because industry sectors do not perform identically to each other and it enables us to benefit from the growth opportunities of each sector. Over time, portfolio risk is reduced because sectors that perform poorly during a particular time period may be offset by sectors that are performing well.

Company Diversification

This refers to the diversification among stocks within each industry sector. This type of diversification is equally important, since companies within the same industry do not perform identically to each other. As with industry diversification, company diversification provides the opportunity to benefit from stocks that are performing well within the industry sector and offset stocks that are not performing as well.



Portfolio Characteristics

High Quality: Invests in large, liquid companies with proven earnings
Diversification: Average portfolio holding of approximately 50 equally-weighted stocks
Large, Well Established Companies: Companies average market capitalization of $20.01 billion
Disciplined Investment Strategy: Investment process developed to limit risk

Inception Date

Class I - 7/1/2002

Maximum Sales Charges

Institutional Shares - No Load

Ticker Symbols

BSRIX

Composition

as of Sep 30, 2014

Equities99.2%
Cash Equivalents0.8%

Sector Diversification

as of Sep 30, 2014

Business Services32.4%
Chemicals and Allied Products26.5%
Miscellaneous Retail8.4%
Wholesale Trade - Durable Goods3.8%
Oil and Gas Extraction3.6%
Instruments and Related Products3.5%
Building Materials & Garden Supplies3.0%
Motion Pictures2.8%
Unrecognized Sector2.8%
Electronic and Other Electric Equipment2.7%
Other10.5%

Top Holdings

as of Sep 30, 2014

Percentage of Portfolio Assets (Based on Market Value)
LINKEDIN CORP - A4.4%
VERTEX PHARM4.3%
AMAZON.COM INC4.0%
PRICELINE.COM INC4.0%
FASTENAL CO3.8%
FACEBOOK INC-A3.8%
VISA INC CLASS A3.7%
BIOGEN IDEC, INC.3.7%
CABOT OIL & GAS CL A3.6%
BAIDU.COM, INC. ADR3.6%

Holdings are subject to change.

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PERFORMANCE

All figures are as of Oct 31, 2014 (Institutional Shares)


Net Asset Value

Class I $15.62

Total Net Assets

Class I $51,436,084

Total Return

 
3 Mo. YTD 1 yr 3 yr 5 yr 10 yr Since Inception
Class I7.38%9.00%17.06%16.51%15.11%7.91%

All returns are average annualized returns. Performance for periods less than one year is cumulative.

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 standard performance, click here

Currently the Strategic Growth Fund Class I Shares gross expense ratio is 1.40% and net expense ratio is 1.25%. All fee waivers are contractual through April 30, 2015.

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FUND MANAGEMENT


About Bishop Street Funds Investment Management

Investment Adviser
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 March 31, 2014, Bishop Street Capital Management manages $341.7 million in assets for institutional and individual investors. BancWest Corporation, the parent company of Bishop Street Capital Management, First Hawaiian Bank and Bank of the West, is a bank holding company.

Investment Sub-Adviser
Columbia Management Investment Advisers, LLC (CMIA) (formerly, RiverSource Investments, LLC) serves as the Fundís sub-adviser and manages the Fundís assets on a day-to-day basis. CMIA, located at 100 Federal Street, Boston, MA 02110, is an investment adviser registered with the SEC under the Advisers Act and is an indirect, wholly owned subsidiary of Ameriprise Financial, Inc., located at 1099 Ameriprise Financial Center, Minneapolis, Minnesota 55474. CMIAís management experience covers all major asset classes, including equity securities, fixed income securities and money market instruments. In addition to serving as investment adviser to mutual funds, CMIA acts as investment manager for individuals, corporations, retirement plans, private investment companies and financial intermediaries. As of March 31, 2014, CMIA had assets under management of approximately $363.1 billion.

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.


Disclosure

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.

Diversification may not protect against market risk. Investing involves risk, including possible loss of principal.

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, or Paribas North America, Inc., or any of their subsidiaries. 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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