Investment Strategy
The Westcore Flexible Income Fund invests in a wide variety of income-producing securities – primarily bonds and to a lesser extent convertible bonds and equity securities.
To identify attractive investments for the portfolio we analyze securities looking for those with stable-to-improving credit fundamentals, solid underlying asset values and a long-term horizon. We emphasize high income-producing corporate bonds, concentrated in lower investment-grade and higher below-investment grade rating categories which we believe have been mispriced. We also have the flexibility to invest in income-producing preferred and common stocks.
This Fund is available in both the retail and institutional class.
Risk Profile
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The Westcore Flexible Income and Plus Bond Funds are subject to additional risk in that they may invest in high-yield/high-risk bonds and may be subject to greater levels of liquidity risk. Additionally, investing in bonds entails interest rate risk and credit risk.
The risk profile spectrum provides an approximate illustration of the relative volatility of the Westcore Family of Funds determined by using each fund's 5-year annualized standard deviation as of 12/31/11. If the fund's retail class has less than five years of operations as of that date, the standard deviation of the fund's benchmark index is used instead. Standard deviation is a statistical measure of the historical volatility of a fund, which we believe can assist in classifying a fund within a risk spectrum. The placement on the risk spectrum (Low to High) is based on the comparison of each Fund's standard deviation measure, as described above, in relation to the universe of funds with a 5-year standard deviation measure as obtained from a third-party fund database. We believe those measures are accurate but have not independently verified them. Please refer to the prospectus for each fund's specific risks. Also a fund's measure of volatility is subject to change without notice as market or economic conditions change, and such changes may include significant and nonrecurring volatility events. Historical volatility is not necessarily indicative of future volatility and there is no guarantee that in any time period any one fund will be more or less volatile than any other fund.
CFA is a trademark owned by the CFA Institute.
Mark R. McKissick, CFA and CPA is a registered representative of ALPS Distributors, Inc.
Please see the prospectus for more detailed information regarding investment minimums. The Funds reserve the right to change the amount of these minimums from time to time or to waive them in whole or in part, including the right to waive the Institutional Class minimums, if in the Advisor’s sole opinion, the investor has adequate intent and availability of assets to reach a future level of investment in the Fund that is equal to or greater than the minimum.
1 Existing accounts and automatic investment plans established before October 1, 2000 are entitled to reduced investment minimums: $1,000 for existing regular accounts; $250 for existing retirement or UGMA/UTMA accounts.
2 A description of the retirement and education accounts available for investment in the Westcore Funds may be found in the SAI for the Funds. Please call 800.392.CORE (2673) to request a free copy of the SAI or click here to download.
