For Financial Professionals in the US

JGBAX Global Bond Fund

A dynamic global bond fund that seeks superior risk-adjusted returns relative to the benchmark over a market cycle

NAV
$7.76
As of 06/06/2023

1-Day Change
$0.00 (0.01%)
 As of 06/06/2023

YTD Return at NAV
0.60%
As of 06/06/2023

Overview

ABOUT THIS FUND

This dynamic, global multi-sector fixed income fund seeks risk-adjusted returns and capital preservation.

WHY INVEST IN THIS FUND

Risk Management: Our risk process is focused on understanding portfolio behaviors and adjusting the risk exposure over a market cycle, seeking to deliver superior risk-adjusted returns relative to the benchmark.

Cross asset collaboration: We draw on the input and experience of specialists across different asset classes. Incorporating these insights results in a deeper understanding of the current investment regime, helping us to identify the major turning points and specific opportunities.

Scenario-driven research: Investment decisions are made through a probabilistic lens, not a central forecast. Our assessment is informed by considering the distribution of potential outcomes and in turn a focus on relative attractiveness of fixed income sectors.

PORTFOLIO MANAGEMENT

Helen Anthony, CFA

Helen Anthony, CFA

Portfolio Manager

Industry since 2010. Joined Firm in 2010.

John Pattullo

John Pattullo

Co-Head of Global Bonds | Portfolio Manager

Industry since 1993. Joined Firm in 1997.

Jenna Barnard, CFA

Jenna Barnard, CFA

Co-Head of Global Bonds | Portfolio Manager

Industry since 2001. Joined Firm in 2002.

Performance

RETURNS (%) (As of 03/31/2023)
Class A Shares @NAV Class A Shares @MOP Bloomberg Global Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/28/2010)
Class A Shares @NAV 3.00 3.00 -10.54 -4.29 -2.15 -0.15 0.89
Class A Shares @MOP -1.92 -1.92 -14.77 -5.84 -3.10 -0.63 0.49
Bloomberg Global Aggregate Bond Index 3.01 3.01 -8.07 -3.43 -1.34 0.07 0.80
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
Maximum Offering Price (MOP) returns include the maximum sales charge of 4.75%. Net Asset Value (NAV) returns exclude this charge, which would have reduced returns.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

RETURNS (%) (As of 05/31/2023)
Class A Shares @NAV Class A Shares @MOP Bloomberg Global Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/28/2010)
Class A Shares @NAV 1.62 0.96 -6.84 -5.72 -1.94 -0.23 0.71
Class A Shares @MOP -3.16 -3.86 -11.22 -7.24 -2.89 -0.71 0.32
Bloomberg Global Aggregate Bond Index 1.59 1.44 -4.48 -4.68 -1.17 0.08 0.66
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
Maximum Offering Price (MOP) returns include the maximum sales charge of 4.75%. Net Asset Value (NAV) returns exclude this charge, which would have reduced returns.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Calendar Year Returns (%)
Global Bond Fund - Class A Shares Bloomberg Global Aggregate Bond Index
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Global Bond Fund - Class A Shares -18.76 -5.67 12.87 5.68 -2.67 7.29 -0.05 -4.44 5.45 -2.20
Bloomberg Global Aggregate Bond Index -16.25 -4.71 9.20 6.84 -1.20 7.39 2.09 -3.15 0.59 -2.60
Fund returns shown are at Net Asset Value (NAV) and exclude sales charges, which would have reduced returns.

MORNINGSTAR PERCENTILE

(As Of 03/31/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 81 87 56 45 39
Global Bond | Rank/Count 166/204 182/203 106/185 89/172 70/159
(As Of 05/31/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 87 87 60 46 38
Global Bond | Rank / Count 172/199 177/199 115/186 92/172 69/159
GROWTH OF A HYPOTHETICAL INVESTMENT
Fund returns shown are at Net Asset Value (NAV) and exclude sales charges, which would have reduced returns.
Source: Morningstar, Inc.
This graph compares the performance of a hypothetical $10,000 investment in the fund, the fund’s Morningstar category average and its benchmark(s).

RETURNS-BASED STATISTICS (As of 04/30/2023 Class I Shares)

RISK / REWARD
VS. Bloomberg Global Aggregate Bond Index		 3YR 5YR
Information Ratio -0.37 -0.34
Alpha -0.01 -0.45
Tracking Error 1.63 1.76
Beta 1.14 1.11
R-squared (%) 98.37 95.70
UP/DOWN MARKET CAPTURE (%)
VS. Bloomberg Global Aggregate Bond Index		 3YR 5YR
Up Capture Ratio 112.94 107.09
Down Capture Ratio 112.52 111.97
STANDARD DEVIATION 3YR 5YR
Global Bond Fund 9.18 7.67
Bloomberg Global Aggregate Bond Index 7.98 6.76
SHARPE RATIO 3YR 5YR
Global Bond Fund -0.61 -0.39
Bloomberg Global Aggregate Bond Index -0.62 -0.35
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/2022)
CLASS A SHARES
Management Fees 0.60%
12b-1 Fees 0.25%
Other Expenses 0.44%
Total Gross Expenses 1.29%
Waivers -0.33%
Total Net Expenses 0.96%
Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on October 28, 2022. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the Bloomberg Barclays Global Aggregate Bond Index.

Top Holdings (As of 04/30/2023)
% of Fund
Japan Government Ten Year Bond, 0.10%, 06/20/29 3.69
Fannie Mae or Freddie Mac, 4.50%, 05/11/23 3.60
China Government Bond, 2.68%, 05/21/30 3.33
China Government Bond, 2.56%, 10/21/23 3.29
Kingdom of Belgium Government Bond, 1.00%, 06/22/26 2.90
Japan Government Ten Year Bond, 0.20%, 09/20/32 2.87
Province of British Columbia Canada, 2.85%, 06/18/25 2.76
Japan Government Ten Year Bond, 0.40%, 06/20/25 2.62
United Kingdom Gilt, 1.62%, 10/22/28 2.40
China Government Bond, 3.29%, 05/23/29 2.39
Total 29.85
View full holdings
Portfolio Characteristics (As of 04/30/2023)
  FUND INDEX
Number of Holdings
Debt Issues		 207 29208
Portfolio Turnover Rate
(1-year trailing)		 54.48% -
Weighted Average Maturity
(years)		 8.62 10.41
Effective Duration
(years)		 7.87 6.74
Yield to Worst
 3.16% 3.53%

Yield to Worst calculation excludes cash.
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 04/30/2023)
Treasuries include U.S. Treasuries and non-U.S. Government securities.
Regional Allocation % OF FUND % of Index % OF FUND % of Index (As of 04/30/2023)
Developed vs Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 04/30/2023)
Maturity Breakdown of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of 04/30/2023)
Credit Quality of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of 04/30/2023)
Credit quality ratings reflect the middle rating received from Moody’s, Standard & Poor’s and Fitch, where all three agencies have provided a rating. If only two agencies rate a security, the lowest rating is used. If only one agency rates a security, that rating is used. Ratings are measured on a scale that ranges from Aaa (highest) to D (lowest).

Documents

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