- Intermediate U.S. Government Fund:
- Fund Overview
- Management
- Performance
- Characteristics
- Distribution
Morningstar Style Box |
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Intermediate U.S. Government Fund
Fixed Income Funds
-
a Shares (BGVAX)
Inception: 10.09.1992 -
c Shares (BIUCX)
Inception: 02.01.2001 -
i Shares (BBGVX)
Inception: 10.09.1992
Fund Overview
Philosophy and Process
The Fund seeks current income consistent with the preservation of capital.
The Fund invests, under normal market conditions, in U.S. Government Securities, some of which may be subject to repurchase agreements, or in "high grade" (rated at the time of purchase in one of the three highest rating categories by a nationally recognized statistical rating organization or are determined by the portfolio manager to be of comparable quality) mortgage-backed securities, including collateralized mortgage obligations.
Investment Considerations
The Fund is subject to the same risks as the underlying bonds in the portfolio such as credit, prepayment, call and interest rate risk. As interest rates rise the value of bond prices will decline and an investor may lose money. The Fund may invest in mortgage backed securities which tend to be more sensitive to changes in interest rates. The Fund invests in U.S. Government securities or its agencies (such as Fannie Mae or Freddie Mac securities). Although U.S. Government Securities issued directly by the U.S. Government are guaranteed by the U.S. Treasury, other U.S. Government Securities issued by an agency or instrumentality of the U.S. government may not be. No assurance can be given that the U.S. government would provide financial support to its agencies and instrumentalities if not required to do so by law.
| Fund Facts | |||
|---|---|---|---|
| Class A Shares | Class C Shares | Inst'l Shares | |
| Ticker | BGVAX | BIUCX | BBGVX |
| Inception Date | 10/09/1992 | 02/01/2001 | 10/09/1992 |
| Investment Minimum | $1,000.00 | $1,000.00 | $1,000,000.00 |
| Subsequent Investment Minimum* | $0.00 | $0.00 | $0.00 |
| Max. Up Front Sales Charge | 2.00% | N/A | N/A |
| Max. Deferred Sales Charge | N/A | 1.00% | N/A |
*If subsequent investments are made as part of an AIP, the minimum is $25.
Management
Performance
| Average Annual Total Returns as of (03/31/2018) | |||||
|---|---|---|---|---|---|
| Class A Shares | Class C Shares | Inst'l Shares | |||
| without sales charge | with 2.00% sales charge | without sales charge | with 1.00% sales charge | ||
| 3 Months | -0.95% | -2.93% | -1.14% | -2.12% | -0.89% |
| YTD | -0.95% | -2.93% | -1.14% | -2.12% | -0.89% |
| 1 Year | -0.32% | -2.29% | -1.07% | -1.07% | -0.07% |
| 3 Years | -0.10% | -0.77% | -0.85% | -0.85% | 0.15% |
| 5 Years | 0.35% | -0.06% | -0.42% | -0.42% | 0.58% |
| 10 Years | 2.13% | 1.92% | 1.37% | 1.37% | 2.37% |
| Since Inception | 4.17% | 4.09% | 3.67% | 3.67% | 4.43% |
The total expense ratios for Class A, C and I Shares are 0.87%, 1.62% and 0.62%, respectively.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. 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 the original cost. To obtain performance information current to the most recent month end, please visit www.sterlingcapitalfunds.com/funds/performance-summary/.
The performance of the Intermediate U.S. Government Fund reflects the deduction of fees for value-added services associated with a mutual fund, such as investment management and fund accounting fees. The inception date for Class A Shares is 10/9/92. The inception date for Class C Shares is 2/1/01. The inception date for Institutional Shares is 2/1/13. The performance of Class C Shares is based on the historical performance of Class A Shares, adjusted to reflect the 1% contingent deferred sales charge. Performance does not reflect Class C Share 12b-1 fees or expenses. Performance of Institutional Shares prior to inception is based on the performance of Class S Shares of the Fund which were re-designated as Institutional Shares as of February 1, 2013. With those adjustments, performance would be lower. The performance shown reflects the reinvestment of all dividend and capital gains distributions.
Performance Summary
Characteristics
| Quality Breakdown¹ as of (03/31/2018) |
|---|
|
Hover over slice to view more info. |
| Quality Breakdown¹ as of (03/31/2018) | |
|---|---|
| Name | Value |
| AAA | 24.4% |
| AA | 3.8% |
| A | 4.7% |
| Government | 67.2% |
¹ Credit quality ratings using Moody's rating symbols reflect the credit quality of the underlying bonds in the fund portfolio and not of the Fund itself. Moody's assigns a range of ratings from Aaa being the highest quality to C being the lowest rated class of bonds. Securities not rated by Moody's may be rated by S&P, Fitch or if no agency rating is available, the Fund will assign a rating of not rated. Bond quality ratings are subject to change.
|
Effective Duration Breakdown as of (03/31/2018) |
|
|---|---|
| Name | Value |
| [Cash] | 1.3 |
| 0-1 Yr. | 15.7 % |
| 1-2 Yrs. | 7.4 % |
| 2-3 Yrs. | 20.1 % |
| 3-5 Yrs. | 21.4 % |
| 5-10 Yrs. | 34.1 % |
| Number of Holdings | 51 |
| Average Life | 5.08 Years |
| Effective Duration | 4.09 Years |
| CouponCurveDuration | 4.11 Years |
| Yield to Maturity | 2.81 |
| Portfolio Composition as of (03/31/2018) | ||
|---|---|---|
| Composition | Fund | Index |
| Corporate | 5.70% | 0.00% |
| Financial Institutions | 4.80% | 0.00% |
| Industrial | 1.00% | 0.00% |
| Government Related | 30.80% | 4.60% |
| Agency | 26.40% | 4.60% |
| Local Authority | 4.50% | 0.00% |
| Securitized | 21.30% | 0.00% |
| ABS | 1.60% | 0.00% |
| CMBS | 6.50% | 0.00% |
| CMO | 7.10% | 0.00% |
| MBS Passthrough | 6.10% | 0.00% |
| Treasury | 40.80% | 95.40% |
| Treasury | 40.80% | 95.40% |
| Cash & Equivalents | 1.30% | 0.00% |
| Cash & Equivalents | 1.30% | 0.00% |
| TOTAL | 100% | 100% |
| Top 10 Holdings as of (03/31/2018) | |
|---|---|
| Name | Value |
| U.S. Treasury Notes | 9.32% |
| FNMA | 6.93% |
| U.S. Treasury Notes | 5.37% |
| U.S. Treasury Notes | 3.96% |
| FNMA, Pool #FN0000 | 3.90% |
| U.S. Treasury Notes | 3.81% |
| FNMA | 3.74% |
| U.S. Treasury Notes | 2.78% |
| FHLMC | 2.68% |
| Morgan Stanley | 2.67% |
Current and future portfolio holdings are subject to change and risk.Based on
Market Value of securities.
Current and future portfolio holdings are subject to change and risk.
|
Growth of 10k as of (03/31/2018) |
|---|
|
Hover over line chart to view data points. |
|
Growth of 10k as of (03/31/2018) | ||||
|---|---|---|---|---|
| Date | Portfolio | Benchmark 1 | Benchmark 2 | |
| Intermediate U.S. Government Fund | 03/31/2018 | $12,341.00 | $12,448.00 | $0.00 |
| Intermediate U.S. Government Fund | 01/31/2018 | $12,270.00 | $12,384.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2017 | $12,328.00 | $12,420.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2017 | $12,459.00 | $12,540.00 | $0.00 |
| Intermediate U.S. Government Fund | 10/31/2017 | $12,448.00 | $12,537.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2017 | $12,475.00 | $12,575.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2017 | $12,490.00 | $12,591.00 | $0.00 |
| Intermediate U.S. Government Fund | 07/31/2017 | $12,568.00 | $12,664.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2017 | $12,483.00 | $12,588.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2017 | $12,460.00 | $12,548.00 | $0.00 |
| Intermediate U.S. Government Fund | 04/30/2017 | $12,500.00 | $12,580.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2017 | $12,380.00 | $12,466.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2017 | $12,440.00 | $12,531.00 | $0.00 |
| Intermediate U.S. Government Fund | 01/31/2017 | $12,379.00 | $12,460.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2016 | $12,336.00 | $12,424.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2016 | $12,306.00 | $12,399.00 | $0.00 |
| Intermediate U.S. Government Fund | 10/31/2016 | $12,324.00 | $12,402.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2016 | $12,564.00 | $12,614.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2016 | $12,642.00 | $12,675.00 | $0.00 |
| Intermediate U.S. Government Fund | 07/31/2016 | $12,625.00 | $12,653.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2016 | $12,676.00 | $12,711.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2016 | $12,666.00 | $12,706.00 | $0.00 |
| Intermediate U.S. Government Fund | 04/30/2016 | $12,496.00 | $12,528.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2016 | $12,522.00 | $12,546.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2016 | $12,518.00 | $12,550.00 | $0.00 |
| Intermediate U.S. Government Fund | 01/31/2016 | $12,476.00 | $12,526.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2015 | $12,424.00 | $12,464.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2015 | $12,251.00 | $12,270.00 | $0.00 |
| Intermediate U.S. Government Fund | 10/31/2015 | $12,283.00 | $12,293.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2015 | $12,329.00 | $12,334.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2015 | $12,349.00 | $12,373.00 | $0.00 |
| Intermediate U.S. Government Fund | 07/31/2015 | $12,307.00 | $12,282.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2015 | $12,277.00 | $12,226.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2015 | $12,310.00 | $12,275.00 | $0.00 |
| Intermediate U.S. Government Fund | 04/30/2015 | $12,344.00 | $12,273.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2015 | $12,349.00 | $12,267.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2015 | $12,378.00 | $12,278.00 | $0.00 |
| Intermediate U.S. Government Fund | 01/31/2015 | $12,334.00 | $12,214.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2014 | $12,445.00 | $12,320.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2014 | $12,248.00 | $12,126.00 | $0.00 |
| Intermediate U.S. Government Fund | 10/31/2014 | $12,264.00 | $12,158.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2014 | $12,129.00 | $12,013.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2014 | $12,208.00 | $12,097.00 | $0.00 |
| Intermediate U.S. Government Fund | 07/31/2014 | $12,179.00 | $12,054.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2014 | $12,113.00 | $11,980.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2014 | $12,134.00 | $12,011.00 | $0.00 |
| Intermediate U.S. Government Fund | 04/30/2014 | $12,122.00 | $12,026.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2014 | $12,052.00 | $11,947.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2014 | $11,984.00 | $11,903.00 | $0.00 |
| Intermediate U.S. Government Fund | 01/31/2014 | $12,009.00 | $11,950.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2013 | $11,842.00 | $11,828.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2013 | $11,967.00 | $11,925.00 | $0.00 |
| Intermediate U.S. Government Fund | 10/31/2013 | $11,915.00 | $11,917.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2013 | $11,919.00 | $11,922.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2013 | $11,866.00 | $11,878.00 | $0.00 |
| Intermediate U.S. Government Fund | 07/31/2013 | $11,791.00 | $11,791.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2013 | $11,855.00 | $11,844.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2013 | $11,851.00 | $11,830.00 | $0.00 |
| Intermediate U.S. Government Fund | 04/30/2013 | $12,032.00 | $11,926.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2013 | $12,190.00 | $12,047.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2013 | $12,130.00 | $11,995.00 | $0.00 |
| Intermediate U.S. Government Fund | 01/31/2013 | $12,125.00 | $11,981.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2012 | $12,065.00 | $11,932.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2012 | $12,141.00 | $11,977.00 | $0.00 |
| Intermediate U.S. Government Fund | 10/31/2012 | $12,192.00 | $11,999.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2012 | $12,155.00 | $11,955.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2012 | $12,176.00 | $11,974.00 | $0.00 |
| Intermediate U.S. Government Fund | 07/31/2012 | $12,151.00 | $11,976.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2012 | $12,045.00 | $11,900.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2012 | $12,136.00 | $11,970.00 | $0.00 |
| Intermediate U.S. Government Fund | 04/30/2012 | $12,060.00 | $11,915.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2012 | $12,004.00 | $11,836.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2012 | $11,910.00 | $11,730.00 | $0.00 |
| Intermediate U.S. Government Fund | 01/31/2012 | $11,940.00 | $11,784.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2011 | $11,959.00 | $11,835.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2011 | $11,889.00 | $11,774.00 | $0.00 |
| Intermediate U.S. Government Fund | 10/31/2011 | $11,797.00 | $11,712.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2011 | $11,737.00 | $11,674.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2011 | $11,775.00 | $11,694.00 | $0.00 |
| Intermediate U.S. Government Fund | 07/31/2011 | $11,715.00 | $11,664.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2011 | $11,580.00 | $11,479.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2011 | $11,444.00 | $11,332.00 | $0.00 |
| Intermediate U.S. Government Fund | 04/30/2011 | $11,470.00 | $11,340.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2011 | $11,246.00 | $11,101.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2011 | $11,357.00 | $11,211.00 | $0.00 |
| Intermediate U.S. Government Fund | 01/31/2011 | $11,240.00 | $11,106.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2010 | $11,213.00 | $11,131.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2010 | $11,217.00 | $11,099.00 | $0.00 |
| Intermediate U.S. Government Fund | 10/31/2010 | $11,411.00 | $11,250.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2010 | $11,488.00 | $11,316.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2010 | $11,448.00 | $11,274.00 | $0.00 |
| Intermediate U.S. Government Fund | 07/31/2010 | $11,481.00 | $11,244.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2010 | $11,341.00 | $11,122.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2010 | $11,259.00 | $11,040.00 | $0.00 |
| Intermediate U.S. Government Fund | 04/30/2010 | $11,157.00 | $10,895.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2010 | $11,066.00 | $10,768.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2010 | $11,009.00 | $10,691.00 | $0.00 |
| Intermediate U.S. Government Fund | 01/31/2010 | $11,025.00 | $10,756.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2009 | $10,970.00 | $10,711.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2009 | $10,850.00 | $10,573.00 | $0.00 |
| Intermediate U.S. Government Fund | 10/31/2009 | $10,988.00 | $10,771.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2009 | $10,900.00 | $10,641.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2009 | $10,863.00 | $10,617.00 | $0.00 |
| Intermediate U.S. Government Fund | 07/31/2009 | $10,808.00 | $10,558.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2009 | $10,722.00 | $10,492.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2009 | $10,655.00 | $10,446.00 | $0.00 |
| Intermediate U.S. Government Fund | 04/30/2009 | $10,608.00 | $10,475.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2009 | $10,622.00 | $10,523.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2009 | $10,626.00 | $10,599.00 | $0.00 |
| Intermediate U.S. Government Fund | 01/31/2009 | $10,485.00 | $10,455.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2008 | $10,473.00 | $10,473.00 | $0.00 |
| Intermediate U.S. Government Fund | 12/31/2008 | $10,541.00 | $10,607.00 | $0.00 |
| Intermediate U.S. Government Fund | 10/31/2008 | $10,262.00 | $10,372.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2008 | $9,975.00 | $9,992.00 | $0.00 |
| Intermediate U.S. Government Fund | 09/30/2008 | $9,849.00 | $10,028.00 | $0.00 |
| Intermediate U.S. Government Fund | 07/31/2008 | $9,851.00 | $9,943.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2008 | $9,864.00 | $9,868.00 | $0.00 |
| Intermediate U.S. Government Fund | 06/30/2008 | $9,907.00 | $9,816.00 | $0.00 |
| Intermediate U.S. Government Fund | 04/30/2008 | $9,922.00 | $9,778.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2008 | $9,995.00 | $9,866.00 | $0.00 |
| Intermediate U.S. Government Fund | 03/31/2008 | $10,000.00 | $10,000.00 | $0.00 |
| View more archived data | ||||
| Hide archived data | ||||
The Growth of $10,000 chart is hypothetical based upon the performance of A Shares at NAV for the period ended 03/31/2018. It includes the reinvestment of dividends and capital gains.
Distribution
| Monthly Dividend Distribution as of (05/31/2018) |
|---|
| Month |
| May 2018 |
| April 2018 |
| March 2018 |
| February 2018 |
| January 2018 |
| December 2017 |
| November 2017 |
| October 2017 |
| September 2017 |
| August 2017 |
| July 2017 |
| June 2017 |
| Annual Distribution Rate as of (05/31/2018) |
|---|
| Load |
| No Load |
To view quarterly standardized returns, please click here.
| 30-Day SEC Yield as of (03/31/2018) | ||
|---|---|---|
| Fund Class | 30-Day SEC Yield | |
| Without Waivers | With Waivers | |
| Class A | 1.93% | 1.93% |
| Class C | 1.22% | 1.22% |
| Class I | 2.21% | 2.21% |
SEC Yield is an annualization of the Fund's total net investment income per share for the 30-day period ended on the last day of the month.
The Adviser has contractually agreed to limit certain fees from February 1, 2015 through January 31, 2016. Performance would have been lower without limitations in effect.
The Distribution Rate represents the amount of dividends that the Fund paid out over the past twelve months, as a percentage of the Fund's current net asset value.
Past performance does not guarantee future results.
Sterling Capital Funds are:
Not a deposit - Not FDIC insured - Not guaranteed by the bank - Not insured by any government agency - May lose value
An investor should consider a fund's investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the Sterling Capital Funds can be found in the Funds' prospectus. To obtain a prospectus, please call 1 (888) 228-1872 or click here. Please read the prospectus carefully before investing.
Sterling Capital Management LLC, a separate subsidiary of BB&T Corporation, serves as investment adviser to the Sterling Capital Funds and is paid a fee for its services as described in the prospectus. The Funds are distributed by Sterling Capital Distributors LLC, which is not affiliated with Branch Banking and Trust Company or its affiliates. The Funds are not insured by the FDIC or any other government agency
Copyright © 2018 Sterling Capital Mutual Funds. All rights reserved.
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4350 Congress Street
Suite 1000
Charlotte, NC 28209
(704) 372-8670
Suite 1000
Charlotte, NC 28209
(704) 372-8670
About Us
SC Funds
Fund Information
Overview
Sterling Capital Funds are:
Not a deposit - Not FDIC insured - Not guaranteed by the bank - Not insured by any government agency - May lose value
An investor should consider a fund's investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the Sterling Capital Funds can be found in the Funds' prospectus. To obtain a prospectus, please call 1 (888) 228-1872 or click here. Please read the prospectus carefully before investing.
Sterling Capital Management LLC, a separate subsidiary of BB&T Corporation, serves as investment adviser to the Sterling Capital Funds and is paid a fee for its services as described in the prospectus. The Funds are distributed by Sterling Capital Distributors LLC, which is not affiliated with Branch Banking and Trust Company or its affiliates. The Funds are not insured by the FDIC or any other government agency.