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Asset Management Fund - Ultra Short Mortgage Fund (ASARX)

6.76 0.00 (0.00%)
At close: March 9 at 8:01 PM EST

Fund Summary

Under normal market conditions, the fund will invest at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in mortgage investments and mortgage-related instruments. Under normal market and interest rate conditions, it seeks to maintain a minimum duration of a 1-Year U.S. Treasury Note and a maximum duration of a 2-Year U.S. Treasury Note.

Asset Management Fund - Ultra Short Mortgage Fund

AMF (Asset Management Fund)
230 W Monroe Street
800-247-9780

Fund Overview

Category Ultrashort Bond
Fund Family AMF
Net Assets 18.39M
YTD Return -0.99%
Yield 1.06%
Morningstar Rating
Inception Date Sep 18, 1991

Fund Operations

Last Dividend 0.00
Last Cap Gain 0.00
Holdings Turnover 74.00%
Average for Category --

Fees & Expenses

Expense ASARX Category Average
Annual Report Expense Ratio (net) 1.89% 0.44%
Prospectus Net Expense Ratio 1.89% --
Prospectus Gross Expense Ratio 1.89% --
Max 12b1 Fee 0.25% --
Max Front End Sales Load -- 2.59%
Max Deferred Sales Load -- 1.21%
3 Yr Expense Projection 594 --
5 Yr Expense Projection 1,021 --
10 Yr Expense Projection 2,212 --

Management Information

Sean Kelleher, Lead Manager since August 11, 2009
Mr. Kelleher, President, Chief Investment Strategist (Fixed Income) and Senior Portfolio Manager of the Adviser, joined the Adviser’s fixed income management team in 2009. In 2008, prior to joining the Adviser’s fixed income management team, Mr. Kelleher worked with M2Capital LLC to develop a distressed bank acquisition and asset management strategy. From 1999 to 2007, Mr. Kelleher worked as a senior vice president and portfolio manager for AllianceBernstein LP. He managed the firm’s mortgage and asset-backed investments as well as its mortgage hedge fund business and structured their securities arbitrage conduit and term financing facilities. He was a member of the firm’s six person Fixed Income Investment Committee. Prior to this, Mr. Kelleher managed the Passthrough Trading Desk at Deutsche Bank and Nomura Securities International and co-managed the CMO Trading Desk at Merrill Lynch. He founded Merrill Lynch’s efforts in mortgage-based interest rate swaps and started his career in risk management. Mr. Kelleher is a Chartered Financial Analyst and earned his Bachelor of Science in Finance from the McIntire School of Commerce at the University of Virginia.

Morningstar Style Box

Morningstar Category

While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk, and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. When necessary, we may change a category assignment based on recent changes to the portfolio.

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