Mutual Funds
OVERVIEW PERFORMANCE MONTHLY CHARACTERISTICS QUARTERLY CHARACTERISTICS
Limited Term Government and Agency Fund
Y shares are only available to certain institutional investors. Please click here for other share classes

The Limited Term Government and Agency Fund seeks high current return consistent with preservation of capital

Portfolio Management

John Hyll
Cliff Rowe, CFA

Total Fund Assets (as of 10/31/2011): $476.8 million

Lipper Category: Short-Intermediate U.S. Government Funds

Morningstar Category: Short Government

Primary Benchmark: Barclays Capital US 1-5 Yr Government Bond Index

Goal: Seeks a high current return

Strategy Highlights
  • Focuses on securities that are issued or guaranteed by the U.S. government or its agencies
  • Emphasizes intermediate-term securities with a yield advantage and relative price stability
  • May be suitable for investors seeking a conservative fixed-income portfolio
Investment Strategy
  • Invests at least 80% of assets in investments issued or guaranteed by the U.S. government, its agencies or instrumentalities
  • Weighted average duration is generally 2-4 years
  • May invest up to 20% of assets in foreign securities, including emerging markets securities
  • May invest in mortgage-related securities
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
Limited Term Govt and Agency Fund (Y-Class)
Ticker NELYX
Fund Inception 1/3/1989
Class Inception 3/31/1994
CUSIP 543487326
Minimum Initial Investment1 $100,000
Gross Expense Ratio2 0.71%
Net Expense Ratio2 0.60%
Net Asset Value as of 10/31/2011 11.93
30-Day SEC Yield as of 10/31/20111.69%
Unsubsidized 30-Day SEC Yield as of 10/31/20111.54%
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 1-5 Year Government Bond Index is an unmanaged, market-weighted index of bonds issued by the U.S. government and its agencies, with maturities between one and five years.
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.