Fund Facts  

Inception Date: Jul 28, 1997
Ticker Symbol: CNSAX
Morningstar Category:Convertibles
As of Mar 31, 2014
Fund Net Assets ($millions) $2,173

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks total return through growth of capital and current income.

Principal Investment Strategies  

The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in convertible securities, and in derivatives and other instruments that have economic characteristics similar to such securities. It may invest in below-investment grade securities. The fund may invest up to 10% of its net assets in synthetic convertible securities and up to 25% of its net assets in exchangeable convertible securities.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Risk Glossary for additional information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Mar 31, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Invesco Convertible Securitiesa-2.19%-2.19%-6.90%3.83%4.24%5.85%6.20%
BofA ML All Convertibles All Qualities Indexa,b-1.56%-1.56%-7.30%6.67%6.25%5.96%N/A
Morningstar Convertiblesa,c-2.04%-2.04%-8.15%4.44%3.96%4.76%N/A

Fund past performance, as shown, is no guarantee of how the fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total annual fund operating expensesa0.86%
Fee waiver and/or expense reimbursement0.01%
Total expenses0.85%

A contractual expense waiver exists for this fund and will expire on 06-30-2016.

 

a. Returns and/or expenses provided by Morningstar, Inc. Copyright © 2016. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (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. ICMA-RC does not independently verify Morningstar data.

b. The BofA ML All Convertibles All Qualities Index is an unmanaged index that measures convertible securities′ performance. It measures the performance of U.S. dollar-denominated convertible securities not currently in bankruptcy with a total market value greater than $50 million at issuance.

c. The Fund’s Morningstar Category Average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on a fund’s historical portfolio holdings.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Mar 17, 2016Mar 17, 2016$0.151700000
Dec 11, 2015Dec 11, 2015$0.140800000
Sep 17, 2015Sep 17, 2015$0.140300000
Jun 18, 2015Jun 18, 2015$0.139700000
Mar 19, 2015Mar 19, 2015$0.140600000
Dec 12, 2014Dec 12, 2014$0.868800000
Sep 18, 2014Sep 18, 2014$0.121600000
Jun 19, 2014Jun 19, 2014$0.122200000
Mar 20, 2014Mar 20, 2014$0.127000000
Sep 19, 2013Sep 19, 2013$0.135500000
Jun 20, 2013Jun 20, 2013$0.135500000
Mar 21, 2013Mar 21, 2013$0.128000000
 

Morningstar Information

Morningstar Rating   As of Mar 31, 2014
Period Stars Category Size
Overall 3 Stars79
3-Year 2 Stars79
5-Year 3 Stars69
10-Year 4 Stars42

For each 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, fee waivers, 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. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. For funds with loads, the Morningstar rating on a load-waived basis is provided, when available. Load-waived ratings do not include any front- or back-end sales loads and are intended for investors that have access to such purchase terms. Funds with loads are waived for plans administered by ICMA-RC. Past performance is no guarantee of future results.

Allocation of Assets As of Dec 31, 2013
Type of Asset Percent
Equity4%
Fixed Income87%
Cash/Other9%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Dec 31, 2013
Asset ClassPercent
Domestic Stock3.6%
Foreign Stock0.0%
Domestic Bond3.5%
Foreign Bond0.0%
Preferred13.8%
Convertible70.0%
Cash7.4%
Other1.8%

Due to rounding, percentages shown may not add up to 100%.

 
Top Ten Holdings As of Dec 31, 2013
Holding NamePercent
Gilead Sciences Cv 1.625%1.9%
United States Stl Corp New Cv 2.75%1.1%
Chesapeake Engy Cv1.1%
Crown Castle Intl Pfd1.1%
Jarden Cv 1.875%1.1%
Liberty Media Corp Delawa 144A Cv 1.375%1.1%
Mgm Resorts Intl Cv 4.25%1.0%
Illumina 144A Cv 0.25%1.0%
Arcelormittal 6% Cvt Pfd1.0%
Ak Stl 5%1.0%
 

Statistics

Portfolio Statistics As of Mar 31, 2014
Statistic3-Year5-Year
Beta0.981.01
Alpha-1.75-1.09
Standard Deviation9.4210.34
 
 

Trading Restrictions

Purchase, Sale, and Transfer Restrictions

 

The fund company imposes trading restrictions for this investment. If you transfer $5,000 or more out of this investment, you will have limited opportunities to transfer back into this investment for 30 days. Your transfers in will be limited to under $5,000 for a 30-day period following a transfer out of $5,000 or more. Full details are provided in the fund's prospectus.

 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2016 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (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, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.