These categories are based
on Lipper's latest classification system, revised September 1999.
| Adjustable Rate Mortgage |
Fund invests at least 65% of fund assets
in adjustable rate mortgage securities or other securities collateralized by or
representing an interest in mortgages. |
| Alabama Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Alabama, (double tax-exempt) or city, (triple
tax-exempt). |
| Arizona Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Arizona, (double tax-exempt) or city, (triple
tax-exempt). |
| Balanced |
Fund whose primary objective is to conserve
principal by maintaining at all times a balanced portfolio of both stocks and
bonds. Typically, the stock/bond ratio ranges around 60%/40%. |
| Balanced Target Maturity |
Fund invests to provide a guaranteed return
of investment at maturity (targeted periods). Some of the assets are invested
in zero-coupon U.S. Treasury securities, while the remainder is in equity securities
for long-term growth of capital and income. |
| California Insured Municipal Debt |
Fund invests at least 65% of assets in those
securities that are exempt from taxation in California, and are insured as to
timely payment. |
| California Intermdt Municipal
Debt |
Fund invests at least 65% of assets in municipal
debt issues that are exempt from taxation in California, with dollar-weighted
average maturities of five to ten years. |
| California Municipal Debt |
Fund invests at least 65% of assets in municipal
debt issues that are exempt from taxation in California, with dollar-weighted
average maturities of five to ten years. |
| California Sh-Intmdt Municipal
Debt |
Fund invests at least 65% of assets in municipal
debt issues that are exempt from taxation in California, with dollar-weighted
average maturities of one to five years. |
| Canadian |
Fund that concentrates investments in equity
securities of Canadian companies. |
| Capital Appreciation |
(obsolete category) |
| China Region |
Fund that concentrates investments in equity
securities whose primary trading markets or operations are in the China region
or in a single country within this region. |
| Colorado Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Colorado, (double tax-exempt) or city, (triple
tax-exempt). |
| Connecticut Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Connecticut, (double tax-exempt) or city, (triple
tax-exempt). |
| Convertible Securities |
Fund invests primarily in convertible bonds
and/or convertible preferred stock. |
| Corporate Debt A-Rated |
Fund invests at least 65% of fund assets in
corporate debt issues rated "A" or better or government issues. |
| Corporate Debt BBB-Rated |
Fund invests at least 65% of fund assets
in corporate and government debt issues rated in the top four grades. |
| Emerging Markets Debt |
Fund seeks either current income or total
return by investing at least 65% of total assets in emerging market debt securities,
where "emerging market" is defined by a country's GNP per capita or
other economic measures. |
| Emerging Markets |
Fund that seeks long-term capital appreciation
by investing at least 65% of total assets in emerging market equity securities,
where "emerging market" is defined by a country's GNP per capita or
other economic measures. |
| Equity Income |
Funds that, by prospectus and portfolio practice,
seek relatively high current income and growth of income through investing 65%
or more of their portfolios in dividend-paying equity securities. These funds’
gross yield (or net yield) must be at least 125% of the U.S. diversified equity
funds universe gross-yield (or net-yield) average. |
| European Region |
Fund that concentrates investments in equity
securities whose primary trading markets or operations are concentrated in the
European region or a single country within this region. |
| Financial Services |
Fund invests 65% of the portfolio in equity
securities of companies engaged in providing financial services, including but
not limited to banks, finance companies, insurance companies, and securities/brokerage
firms. |
| Flexible Income |
Fund emphasizes income generation by investing
at least 85% of assets in debt issues and preferred and convertible securities. |
| Flexible Portfolio |
Fund that allocates investments across various
asset classes, including domestic common stocks, bonds, and money market instruments
with a focus on total return. |
| Florida Insured Municipal
Debt |
Fund that invests at least 65% of its assets
in securities that are exempt from taxation in Florida and are insured as to timely
payment. |
| Florida Intermediate Municipal Debt |
Fund invests at least 65% of assets in municipal
debt issues that are exempt from taxation in Florida, with dollar-weighted average
maturities of five to ten years. |
| Florida Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Florida, (double tax-exempt) or city, (triple
tax-exempt). |
| GNMA |
Fund invests at least 65% of fund assets in
Government National Mortgage Association securities. |
| General Bond |
Fund does not have any quality or maturity
restrictions. Intends to keep a bulk of its assets in corporate and government
debt issues. |
| General Equity |
This is a super-category, defined by Personal
Fund, for diversified U.S. stock funds that are not specifically concentrated
in either large-cap or small-cap. It includes the 3 Mid-Cap
and the 3 Multi-Cap categories |
|
|
| General Municipal Debt |
Fund invests at least 65% of assets in municipal
debt issues in the top four credit ratings. |
| General U.S. Government |
Fund invests at least 65% of fund assets
in U.S. government and agency issues. |
| General U.S. Treasury |
Fund invests at least 65% of fund assets in
U.S. Treasury bills, notes, and bonds. |
| Georgia Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Georgia, (double tax-exempt) or city, (triple
tax-exempt). |
| Global Flexible Port |
Fund that allocates investments across various
asset classes, including both domestic and foreign stocks, bonds, and money market
instruments focused on total return. At least 25% of portfolio is invested in
securities traded outside of the U.S. |
| Global |
Fund invests at least 25% of its portfolio
in securities traded outside of the United States and that may own U.S. securities
as well. |
| Global Income |
Fund invests primarily in U.S. dollar and
non-U.S. dollar debt securities of issuers located in at least three countries,
one of which may be the United States. |
| Global Small-Cap |
Fund invests at least 25% of portfolio in
securities with primary trading markets outside the United States, and limits
at least 65% of its investments to companies with a market capitalization of less
than US $1 billion at the time of purchase. |
| Gold Oriented |
Fund invests at least 65% of the fund equity
portfolio in shares of gold mines, gold-oriented mining finance houses, gold coins,
or bullion. |
| Hawaii Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Hawaii, (double tax-exempt) or city, (triple
tax-exempt). |
| Health/Biotechnology |
Fund invests 65% of equity portfolio in shares
of companies engaged in health care, medicine, and biotechnology. |
| High Current Yield |
Fund aims at high (relative) current yield
from fixed income securities, has no quality or maturity restrictions, and tend
to invest in lower grade debt issues. |
| High Yield Municipal Debt |
Fund invests at least 50% of assets in lower
rated municipal debt issues. |
| Income |
Fund that normally seeks a high level of
current income through investing in income-producing stocks, bonds, and money
market instruments. |
| Insured Municipal Debt |
Fund invests at least 65% of assets in municipal
debt issues insured as to timely payment. |
| Intermediate Investment
Grade Debt |
Fund invests at least 65% of fund assets
in investment grade debt issues (rated in top four grades) with dollar-weighted
average maturities of one to five years. |
| Intermediate Municipal Debt |
Fund invests in municipal debt issues with
dollar-weighted average maturities of five to ten years. |
| Intermediate U.S. Government |
Fund invests at least 65% of fund assets
in securities issued or guaranteed by the U.S. government, its agencies, or its
instrumentalities, with dollar-weighted average maturities of five to ten years. |
| Intermediate U.S. Treasury |
Fund invests at least 65% of assets in U.S.
Treasury bills, notes and bonds with dollar-weighted average maturities of five
to ten years. |
| International |
Fund invests fund assets in securities with
primary trading markets outside of the United States. |
| International Income |
Fund invests primarily in non-U.S. dollar
and U.S. dollar debt securities of issuers located in at least three countries,
excluding the U.S., except in periods of market weakness. |
| International Small-Cap |
Fund invests at least 65% of assets in equity
securities of non-United States companies with a market capitalization of less
than US $1 billion at time of purchase. |
| Japanese |
Fund that concentrates investments in equity
securities of Japanese companies. |
| Kansas Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Kansas, (double tax-exempt) or city, (triple
tax-exempt). |
| Kentucky Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Kentucky, (double tax-exempt) or city, (triple
tax-exempt). |
| Large-Cap |
A super-category, defined by Personal Fund,
that includes Large-Cap Core, Large-Cap Growth,
Large-Cap Value and S+P 500 Index funds. |
| Large-Cap Core |
Funds that, by portfolio practice, invest
at least 75% of their equity assets in companies with market capitalizations (on
a three-year weighted basis) of greater than 300% of the dollar-weighted median
market capitalization of the S&P Mid-Cap 400 Index. Large-Cap Core funds have
wide latitude in the companies in which they invest. These funds will normally
have an average price-to-earnings ratio, price-to-book ratio, and three-year earnings
growth figure, compared to the U.S. diversified large-cap funds universe average. |
| Large-Cap Growth |
Funds that, by portfolio practice, invest
at least 75% of their equity assets in companies with market capitalizations (on
a three-year weighted basis) of greater than 300% of the dollar-weighted median
market capitalization of the S&P Mid-Cap 400 Index. Large-Cap Growth Funds
normally invest in companies with long-term earnings expected to grow significantly
faster than the earnings of the stocks represented in a major unmanaged stock
index. These funds will normally have an above-average price-to-earnings ratio,
price-to-book ratio, and three-year earnings growth figure, compared to the U.S.
diversified large-cap funds universe average. |
| Large-Cap Value |
Funds that, by portfolio practice, invest
at least 75% of their equity assets in companies with market capitalizations (on
a three-year weighted basis) of greater than 300% of the dollar-weighted median
market capitalization of the S&P Mid-Cap 400 Index. Large-Cap Value funds
seek long-term growth of capital by investing in companies that are considered
to be undervalued relative to a major unmanaged stock index based on price-to-current
earnings, book value, asset value, or other factors. These funds will normally
have a below-average price-to-earnings ratio, price-to-book ratio, and three-year
earnings growth figure, compared to the U.S. diversified large-cap funds universe
average. |
| Latin American |
Fund that concentrates investments in equity
securities with primary trading markets or operations concentrated in the Latin
American region or in a single country within this region. |
| Louisiana Municipal
Debt |
Fund limits assets to those securities
that are exempt from taxation in Louisiana, (double tax-exempt) or city, (triple
tax-exempt). |
| Maryland Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Maryland, (double tax-exempt) or city, (triple
tax-exempt). |
| Massachusetts Intermediate Muni Debt |
Fund invests at least 65% assets in municipal
debt issues that are exempt from taxation in Massachusetts, with dollar-weighted
average maturities of five to ten years. |
| Massachusetts Municipal
Debt |
Fund that limits assets to those securities
that are exempt from taxation in Massachusetts, (double tax-exempt) or city, (triple
tax-exempt). |
| Michigan Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Michigan, (double tax-exempt) or city, (triple
tax-exempt). |
| Mid-Cap Core |
Funds that, by portfolio practice, invest
at least 75% of their equity assets in companies with market capitalizations (on
a three-year weighted basis) of less than 300% of the dollar-weighted median market
capitalization of the S&P Mid-Cap 400 Index. Mid-Cap Core funds have wide
latitude in the companies in which they invest. These funds will normally have
an average price-to-earnings ratio, price-to-book ratio, and three-year earnings
growth figure, compared to the U.S. diversified mid-cap funds universe average. |
| Mid-Cap Growth |
Funds that, by portfolio practice, invest
at least 75% of their equity assets in companies with market capitalizations (on
a three-year weighted basis) of less than 300% of the dollar-weighted median market
capitalization of the S&P Mid-Cap 400 Index. Mid-Cap Growth funds normally
invest in companies with long-term earnings expected to grow significantly faster
than the earnings of the stocks represented in a major unmanaged stock index.
These funds will normally have an above-average price-to-earnings ratio, price-to-book
ratio, and three-year earnings growth figure, compared to the U.S. diversified
mid-cap funds universe average. |
| Mid-Cap Value |
Funds that, by portfolio practice, invest
at least 75% of their equity assets in companies with market capitalizations (on
a three-year weighted basis) of less than 300% of the dollar-weighted median market
capitalization of the S&P Mid-Cap 400 Index. Mid-Cap Value funds seek long-term
growth of capital by investing in companies that are considered to be undervalued
relative to a major unmanaged stock index based on price-to-current earnings,
book value, asset value, or other factors. These funds will normally have a below-average
price-to- earnings ratio, price-to-book ratio, and three-year earnings growth
figure, compared to the U.S. diversified mid-cap funds universe average. |
| Minnesota Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Minnesota, (double tax-exempt) or city, (triple
tax-exempt). |
| Missouri Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Missouri, (double tax-exempt) or city, (triple
tax-exempt). |
| Multi-Cap Core |
Funds that, by portfolio practice, invest
in a variety of market capitalization ranges, without concentrating 75% of their
equity assets in any one market capitalization range over an extended period of
time. Multi-Cap funds will generally have between 25% to 75% of their assets invested
in companies with market capitalizations (on a three-year weighted basis) above
300% of the dollar-weighted median market capitalization of the S&P Mid-Cap
400 Index. Multi-Cap Core funds have wide latitude in the companies in which they
invest. These funds will normally have an average price-to-earnings ratio, price-to-book
ratio, and three-year earnings growth figure, compared to the U.S. diversified
multi-cap equity funds universe average. |
| Multi-Cap Growth |
Funds that, by portfolio practice, invest
in a variety of market capitalization ranges, without concentrating 75% of their
equity assets in any one market capitalization range over an extended period of
time. Multi-Cap funds will generally have between 25% to 75% of their assets invested
in companies with market capitalizations (on a three-year weighted basis) above
300% of the dollar-weighted median market capitalization of the S&P Mid-Cap
400 Index. Multi-Cap Growth funds normally invest in companies with long-term
earnings expected to grow significantly faster than the earnings of the stocks
represented in a major unmanaged stock index. These funds will normally have an
above-average price-to-earnings ratio, price-to-book ratio, and three-year earnings
growth figure, compared to the U.S. diversified multi-cap equity funds universe
average. |
| Multi-Cap Value |
Funds that, by portfolio practice, invest
in a variety of market capitalization ranges, without concentrating 75% of their
equity assets in any one market capitalization range over an extended period of
time. Multi-Cap funds will generally have between 25% to 75% of their assets invested
in companies with market capitalizations (on a three-year weighted basis) above
300% of the dollar-weighted median market capitalization of the S&P Mid-Cap
400 Index. Multi-Cap Value funds seek long-term growth of capital by investing
in companies that are considered to be undervalued relative to a major unmanaged
stock index based on price-to-current earnings, book value, asset value, or other
factors. These funds will normally have a below-average price-to-earnings ratio,
price-to-book ratio, and three-year earnings growth figure, compared to the U.S.
diversified multi-cap funds universe average. |
| Multi-Sector Income |
Fund seeks current income by allocating assets
among different fixed income securities sectors, (no > 65% in one sector except
for defensive purposes), including U.S. & foreign gov'ts., w/ a significant
portion rated below investment grade. |
| Natural Resources |
Fund invests more than 65% of the fund equity
commitment in natural resources stocks. |
| New Jersey Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in New Jersey,
(double tax-exempt) or city, (triple tax-exempt). |
| New York Insured Municipal Debt |
Fund invests at least 65% of assets in those
securities that are exempt from taxation in New York, and are insured as to timely
payment. |
| New York Intermdt Municipal Debt |
Fund invests at least 65% of assets in municipal
debt issues that are exempt from taxation in New York, with dollar-weighted average
maturities of five to ten years. |
| New York Municipal Debt |
Fund that limits its assets to those securities
that are exempt from taxation in New York, (double tax-exempt) or city, (triple
tax-exempt). |
| North Carolina Municipal
Debt |
Fund that limits assets to those securities
that are exempt from taxation in North Carolina, (double tax-exempt) or city,
(triple tax-exempt). |
| Ohio Intermediate Municipal Debt |
Fund invests at least 65% of assets in municipal
debt issues that are exempt from taxation in Ohio, with dollar-weighted average
maturities of five to ten years. |
| Ohio Municipal Debt |
Fund that limit assets to those securities
that are exempt from taxation in Ohio, (double tax-exempt) or city, (triple tax-exempt). |
| Oregon Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Oregon, (double tax-exempt) or city, (triple
tax-exempt). |
| Other States Intermediate Muni Debt |
Invest in municipal debt issues with dollar-weighted
average maturities of five to ten years and are exempt from taxation on a specified
city or state basis. |
| Other States Municipal Debt |
Fund invests in municipal debt issues with
dollar-weighted average maturities of five to ten years and are exempt from taxation
on a specified city or state basis. |
| Other States Sh-Intmdt Muni Debt |
Fund invests in municipal debt issues with
dollar-weighted average maturities of one to five years and are exempt from taxation
on a specified city or state basis. |
| Pacific Ex Japan |
Fund that concentrates investments in equity
securities with primary trading markets or operations concentrated in the Pacific
region (including Asian countries) and that specifically does not invest in Japan. |
| Pacific Region |
Fund that concentrates investments in equity
securities with primary trading markets or operations concentrated in the Western
Pacific Basin region or a single country within this region. |
| Pennsylvania Intermediate Muni Debt |
Fund invests at least 65% of assets in municipal
debt issues that are exempt from taxation in Pennsylvania, with dollar-weighted
average maturities of five to ten years. |
| Pennsylvania Municipal Debt |
Fund that limits assets to those securities
that are exempt from taxation in Pennsylvania, (double tax-exempt) or city, (triple
tax-exempt). |
| Real Estate |
Fund invests 65% of the portfolio in equity
securities of domestic and foreign companies engaged in the real estate industry. |
| S+P 500 Index |
A passively managed, limited-expense (management
fee no higher than 0.50%) fund designed to replicate the performance of the Standard
& Poor's 500 Index on a reinvested basis. |
| Science + Technology |
Fund invests 65% of equity portfolio in science
and technology stocks. |
| Sh-Intmdt Investment Grade Debt |
Fund invests at least 65% of fund assets in
investment grade debt issues (rated in top four grades) with dollar-weighted average
maturities of five to ten years. |
| Sh-Intmdt Municipal Debt |
Fund invests in municipal debt issues with
dollar-weighted average maturities of one to five years. |
| Sh-Intmdt U.S. Government |
Fund invests at least 65% of assets in securities
issued or guaranteed by the U.S. government, its agencies, or its instrumentalities,
with dollar-weighted average maturities of one to five years. |
| Short Investment Grade Debt |
Fund invests at least 65% of assets in investment
grade debt issues (rated in top four grades) with dollar-weighted average maturities
of less than three years. |
| Short Municipal Debt |
Fund invests in municipal debt issues with
dollar-weighted average maturities of less than three years. |
| Short U.S. Government |
Fund invests at least 65% of assets in securities
issued or guaranteed by the U.S. government, its agencies, or its instrumentalities,
with dollar-weighted average maturities of less than three years. |
| Short U.S. Treasury |
Fund invests at least 65% of fund assets in
U.S. Treasury bills, notes, and bonds with dollar-weighted average maturities
of less than three years. |
| Short World Multi-Market Income |
Fund invests in non-U.S. dollar and U.S. dollar
debt instruments and, by policy, keep a dollar-weighted average maturity of less
than five years. |
| Small-Cap |
A super-category, defined by Personal Fund,
that encompasses the Small-Cap Core, Small-Cap
Growth and Small-Cap Value categories |
| Small-Cap Core |
Funds that, by portfolio practice, invest
at least 75% of their equity assets in companies with market capitalizations (on
a three-year weighted basis) of less than 250% of the dollar-weighted median market
capitalization of the S&P Small-Cap 600 Index. Small-Cap Core funds have wide
latitude in the companies in which they invest. These funds will normally have
an average price-to-earnings ratio, price-to-book ratio, and three-year earnings
growth figure, compared to the U.S. diversified small-cap funds universe average. |
| Small-Cap Growth |
Funds that, by portfolio practice, invest
at least 75% of their equity assets in companies with market capitalizations (on
a three-year weighted basis) of less than 250% of the dollar-weighted median market
capitalization of the S&P Small-Cap 600 Index. Small-Cap
Growth funds normally invest in companies with long-term earnings expected
to grow significantly faster than the earnings of the stocks represented in a
major unmanaged stock index. These funds will normally have an above-average price-to-earnings
ratio, price-to-book ratio, and three-year earnings growth figure, compared to
the U.S. diversified small-cap funds universe average. |
| Small-Cap Value |
Funds that, by portfolio practice, invest
at least 75% of their equity assets in companies with market capitalizations (on
a three-year weighted basis) of less than 250% of the dollar-weighted median market
capitalization of the S&P Small-Cap 600 Index. Small-Cap Value funds seek
long-term growth of capital by investing in companies that are considered to be
undervalued relative to a major unmanaged stock index based on price-to-current
earnings, book value, asset value, or other factors. These funds will normally
have a below-average price-to-earnings ratio, price-to-book ratio, and three-year
earnings growth figure, compared to the U.S. diversified small-cap funds universe
average. |
| South Carolina Municipal
Debt |
Fund that limits its assets to those securities
that are exempt from taxation in South Carolina, (double tax-exempt) or city,
(triple tax-exempt). |
| Specialty Equity |
Funds that, by portfolio practice, invest
in all market capitalization ranges, with no restrictions for any one market capitalization
range. These funds generally have distinctly different strategies and performance
resulting in a low r-squared value compared to the other U.S. diversified equity
fund categories (for example, market short funds). |
| Specialty/Miscellaneous |
Fund that limits fund investments to a specific
industry (e.g., transportation, retailing, or paper, etc.) or one that has not
been classified into an existing investment objective. |
| Target Maturity |
Fund invests principally in zero-coupon U.S.
Treasury securities or in coupon-bearing U.S. government securities targeted to
mature in a specific year. |
| Telecommunication |
Fund invests at least 65% of its assets in
equity securities of domestic and foreign companies engaged in the development,
manufacture, or sales of telecommunications services or equipment. |
| Tennessee Municipal Debt |
Fund that limits its assets to those securities
that are exempt from taxation in Tennessee, (double tax-exempt) or city, (triple
tax-exempt). |
| Texas Municipal Debt |
Fund that limits its assets to those securities
that are exempt from taxation in Texas, (double tax-exempt) or city, (triple tax-exempt). |
| U.S. Mortgage |
Fund invests at least 65% of fund assets in
mortgages/securities issued or guaranteed as to principal and interest by the
U.S. government and certain federal agencies. |
| Ultra-Short Obligations |
Fund invests at least 65% of fund assets in
investment grade debt issues, or better, and maintains a portfolio dollar-weighted
average maturity between 91 days and 365 days. |
| Utility |
Fund invests 65% of the fund equity portfolio
in utility shares. |
| Virginia Intermediate Muni Debt |
Fund invests at least 65% of assets in municipal
debt issues that are exempt from taxation in Virginia, with dollar-weighted average
maturities of five to ten years. |
| Virginia Municipal Debt |
Fund that limits its assets to those securities
that are exempt from taxation in Virginia, (double tax-exempt) or city, (triple
tax-exempt). |
| Washington Municipal Debt |
Fund that limits its assets to those securities
that are exempt from taxation in Washington, (double tax-exempt) or city, (triple
tax-exempt). |
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