Mutual Funds
OVERVIEW PERFORMANCE
Global Bond Fund

The Global Bond Fund seeks to generate superior, long-term, risk-adjusted investment performance relative to the Barclays Capital Global Aggregate Bond Index

Portfolio Management

Ken Buntrock, CFA, CIC
David Rolley, CFA
Lynda Schweitzer, CFA

Total Fund Assets (as of 10/31/2011): $2.4 billion

Lipper Category: Global Income Funds

Morningstar Category: World Bond

Primary Benchmark: Barclays Capital Global Aggregate Bond Index

Goal: Seeks high total investment return

Strategy Highlights
  • Diversification benefits to owning non US fixed income securities, including decreased exposure to the US interest rate cycle and US dollar denominated assets
  • Non US bonds may potentially offer higher yields for a similar level of risk compared to US bonds
  • Offers low correlation with US bonds and US stocks (S&P 500 Index)
  • Provides access to a larger investment universe as more than 50% of the world bond markets are outside of the US
Investment Strategy
  • Active global fixed income management combining top-down macroeconomic analysis with research driven bottom up security selection
  • Securities held by the fund may be denominated in any currency
  • Securities held by the fund may be denominated in any countries, including emerging markets
  • May invest 20% of assets in lower rated fixed income securities
  • Invests primarily in fixed income securities worldwide
About Risk
  • Mutual funds that invest in bonds can lose their value as interest rates rise and bond prices usually fall; investor can lose principal
  • High yield securities are subject to a high degree of market and credit risk. In addition, the secondary market for these securities may lack liquidity, which in turn may adversely affect the value of these securities and that of the Fund
  • Foreign investments involve special risks including greater economic, political and currency fluctuation risks, which may be even greater in emerging markets
  • Securities issued by US Government agencies are not insured, and may not be guaranteed by the US Government
FUND FACTS as of 10/31/2011
Global Bond Fund (R-Class)
Ticker LSGLX
Fund Inception 5/10/1991
Class Inception 12/31/1996
CUSIP 543495774
Minimum Initial Investment1 $2,500
Gross Expense Ratio2 1.00%
Net Expense Ratio2 1.00%
Net Asset Value as of 10/31/2011 16.89
30-Day SEC Yield as of 10/31/20112.97%
Unsubsidized 30-Day SEC Yield as of 10/31/20112.97%
Fact SheetProspectus
CommentaryFund Report
Fund Application 
Global Bond Fund (I-Class)
Ticker LSGBX
Fund Inception 5/10/1991
Class Inception 5/10/1991
CUSIP 543495782
Minimum Initial Investment1 $100,000
Gross Expense Ratio2 0.66%
Net Expense Ratio2 0.66%
Net Asset Value as of 10/31/2011 17.05
30-Day SEC Yield as of 10/31/20113.28%
Unsubsidized 30-Day SEC Yield as of 10/31/20113.28%
Fact SheetProspectus
CommentaryFund Report
Fund Application 
Unsubsidized 30-day SEC yield is calculated using the gross expenses of the fund. Gross expenses do not include any fee waivers or reimbursement.

Investment return and principal value may fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance data quoted represents past performance and current returns may be higher or lower. Past performance is no guarantee of future results.
1 For further detail regarding Minimum Initial Investment, please see the fund prospectus.

2 Unlike net expense ratio, gross expense ratio does not reflect any potential reimbursement/waiver of expenses, if any, as stated in the most recent Fund prospectus. Fund expenses and expense reductions are subject to change. Expense reductions are contractual and are set to expire 1/31/2012. Investors should consult the most recent prospectus for more detailed information.

The Barclays Capital Global Aggregate Bond Index covers the most liquid portion of the global investment grade fixed-rate bond market, including government, credit and collateralized securities. The liquidity constraint for all securities in the index is $300 million. Indexes are unmanaged, do not incur fees and it is not possible to invest directly in an index.
Before investing, consider the fund's investment objectives, risks, charges, and expenses. You may obtain a prospectus or a summary prospectus, if available, containing this and other information on this web site. Read it carefully.