Target Style

Fund Objective:

Seeks a high level of total return by investing primarily in a broad range of bonds, including both investment grade and non-investment grade U.S. and foreign bonds, U.S. government and agency obligations, and mortgage backed securities without regard to the maturities of such securities.


Fund Highlights:

  • High income potential.
  • Diversified blend of four non-correlated fixed income asset classes to help smooth returns over time.
  • Dedicated asset class portfolio management teams utilize a value oriented total return approach.
  • Tactical asset allocation on a monthly basis to overweight and underweight sector exposure.
  • The Fund has historically had a low correlation to both U.S. Treasury bonds and the U.S. equity market.

The Barclays Capital U.S. Aggregate Bond Index represents securities that are U.S. domestic, taxable and dollar denominated. The index covers components for government and corporate securities, mortgage pass-through securities and asset-backed securities. Please note that an investor cannot invest directly in an index.

1Includes fees waived and expenses reimbursed
2Excludes fees waived and expenses reimbursed

Performance data quoted represents past performance and is not a guarantee of future results. The data assumes reinvestment of all distributions at net asset value. Maximum sales charge (Class A): 3.75%. The Fund’s daily net asset value is not guaranteed and shares are not insured by the FDIC, the Federal Reserve Board or any other agency. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be higher or lower than the original cost. Current performance may be higher or lower than that shown.

$10,000 initial investment in Class A from Fund inception through the report date, with all income dividends and capital gains reinvested.  Includes a maximum 5.75% sales charge. This chart is hypothetical and is for illustrative purposes only.

Interest rates and bond prices typically move inversely to each other; therefore, as with any bond fund, the value of an investment in this Fund may go up or down in response to changes in interest rates. High-yield bonds tend to have lower interest rate risk than higher-quality bonds of similar maturity but carry greater credit and default risk. Investing internationally involves special risks, such as currency fluctuations, and economic and political instability.

There is no guarantee a fund will meet its objective.

The style and risk measures illustrated above are broad-based, relative targets for the Fund. There can be no assurances that the Fund exactly exhibits these categorizations at any given time.

Standard Deviation is a measure of the volatility that an investment experiences over time. The higher the standard deviation, the greater the performance swings of the investment. The Sharpe Ratio uses a fund’s standard deviation and its excess return (the difference between the fund’s return and the risk-free return of 90-day Treasury Bills) to determine reward per unit of risk. Beta is a measure of a fund’s sensitivity to market movements. A portfolio with a beta greater than 1 is more volatile than the market, and a portfolio with a beta less than 1 is less volatile than the market. R-Squared reflects the percentage of a fund’s movements that are explained by movements in its benchmark index, showing the degree of correlation between the fund and the benchmark. Alpha is a measure of performance on a risk adjusted basis of a mutual fund and compares its risk adjusted performance to a benchmark index. A positive alpha of 1.0% means the fund has outperformed its benchmark index by 1% and a negative alpha of -1.0% would indicate an underperformance of 1%.

PineBridge Investments is an independent and unaffiliated investment sub-adviser to SunAmerica.