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Fund Overview | Performance | Fund Management
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Investment Objectives and Policies
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The investment objective of this fund is to seek total return, consisting of current
income and capital appreciation.
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Who
Should Invest
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The Bishop Street Dividend Value Fund might be a good choice for you if you're seeking
to:
- Invest for total return consisting of current income and capital appreciation
- Reduce risk in your existing portfolio by adding diversification
- Participate in the growth potential of the stock market
- Hedge against inflation
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Investment
Strategy
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The Dividend Value Fund primarily invests (at least 80% of its net assets) in income-producing
(dividend paying) equity securities. The Fund invests principally in securities
of companies that Columbia Management Advisors, LLC (the "Sub-Adviser") believes
are undervalued, but may also invest in securities of companies that the Sub-Adviser
believes have the potential for long-term growth. The Fund may invest in companies
that have market capitalizations of any size.
The Sub-Adviser combines fundamental and quantitative analysis with risk management
in identifying investment opportunities and constructing the Fund's portfolio. The
Sub-Adviser considers, among other factors:
- Various measures of valuation, including price-to-cash flow, price-to-earnings,
price-to-sales and price-to-book value;
- Potential indicators of stock price appreciation, such as anticipated earnings growth,
company restructuring, changes in management, business model changes, new product
opportunities, or anticipated improvements in macroeconomic factors;
- The financial condition and management of a company, and
- Overall economic and market conditions
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.
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Portfolio Characteristics
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High Quality: Invests in large well-established companies.
Diversification: Average portfolio holding of 70 to 100 individual securities.
Disciplined Investment Strategy: Investment process developed to limit risk.
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Inception Date
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Maximum Sales Charges
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Ticker Symbols
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Composition | as of Mar 31, 2013 | |
 | Equities | 96.1% |  | Cash Equivalents | 2.9% |  | Mutual Fund | 1.0% |
Sector Diversification | as of Mar 31, 2013 | |
| Chemicals and Allied Products | 16.4% | | Petroleum and Coal Products | 7.7% | | Electric, Gas, and Sanitary Services | 6.9% |  | Depository Institutions | 6.8% |  | Industrial Machinery and Equipment | 5.9% |  | Communications | 5.7% |  | Building Materials & Garden Supplies | 4.6% |  | Tobacco Products | 4.3% |  | Electronic and Other Electric Equipment | 3.7% |  | Business Services | 3.3% |  | Other | 34.7% |
Top Holdings | as of Mar 31, 2013 | | | Percentage of Portfolio Assets (Based on Market Value) |
| VERIZON COMMUNICATIONS | 3.1% | | PHILIP MORRIS INTER. | 3.1% | | INTL BUSINESS MACHINES CO | 3.1% | | PFIZER | 2.9% | | BRISTOL MYERS SQUIBB | 2.7% | | EXXON MOBIL COR | 2.7% | | AT&T INC | 2.6% | | JOHNSON & JOHNS | 2.5% | | MERCK & CO INC/NJ | 2.5% | | SHERWIN WILLIAMS CO | 2.4% |
Holdings are subject to change.
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PERFORMANCE
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All figures are as of
May 31, 2013
(Institutional Shares)
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Net Asset Value
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Total Net Assets
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Total Return
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Description
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3 Month
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Year To Date
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1 year
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Annualized
3 years
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Annualized
5 years
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Annualized
Since Inception
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| Class I | 8.50% | 16.45% | 25.60% | 16.76% | 4.19% | 4.12% |
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.
Prior to February 1, 2010, the Fund's principal investment strategy was to invest
at least 80% of its net assets in large-cap equity securities; therefore, the past
performance shown may have differed had the Fund's current investment strategy been
in effect. For standard performance, click here
Currently the Dividend
Value Fund Class I Shares gross expense ratio is 1.39% and net expense ratio is
1.06%. All fee waivers are contractual through April 30, 2013.
Investing involves risk, including possible loss of principal. The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund's gains or losses.
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About Bishop Street Funds Investment Management
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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, 2012, Bishop Street Capital Management manages $475 billion 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 Fund’s sub-adviser and manages the Fund’s 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. CMIA’s 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 December 31, 2011, CMIA had assets under management
of approximately $301 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.
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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.
Diversification may not protect against market risk.
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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