Capital Income Fund (HWIIX)

I SHARES    A SHARES   

The performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher. Investment return and principal value of the fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. Click quarter-end or month-end to obtain the most recent fund performance.

Characteristics
As of 04/30/2012
ASSET MIX (%)
Common Stock 57.3
Bonds 38.9
Preferred/Convertibles 3.0
Cash & Equivalents 0.8
EQUITY STATISTICS
  Portfolio S&P 500
Projected P/E (FY2) 10.5x 11.7x
Price/Normal Earnings 10.0x 14.2x
Price/Book 1.7x 2.2x
Dividend Yield 3.9% 2.1%
Weighted Average
Market Capitalization (millions)		 $105,020 $109,673
Median Market Capitalization
(millions)		 $59,731 $12,379
Number of Stocks 34 500
TOP TEN EQUITY HOLDINGS (%)1
Vodafone Group PLC 3.8
JPMorgan Chase & Co. 3.4
Microsoft Corp. 3.3
Exelon Corp. 3.0
Johnson & Johnson 2.8
Lockheed Martin Corp. 2.8
Royal Dutch Shell 2.8
PNC Financial Services 2.1
Public Srvc Enterprise Group 2.0
Allstate Corp. 2.0
BOND CREDIT QUALITY (%)
Investment Grade 6.0
BB 36.0
B 48.3
CCC+ or lower 5.2
Nonrated 4.5
BOND STATISTICS
  Portfolio BofAML US Corp/Govt/Mtg
Yield-to-Worst 7.6% 1.9%
Modified Duration 4.0 years 5.1 years
Spread over Treasuries 653bps 63bps
Average Coupon Rate 8.5% 4.0%
Number of Issuers 113 1,082
TOP FIVE BOND HOLDINGS (%)1
  Portfolio Coupon
Rate		 Maturity
Date
CIT Group, Inc. 0.7 7.000% 05/02/2017
International Lease Finance Corp. 0.6 8.250% 12/15/2020
American International Group, Inc. 0.6 8.175% 05/15/2068
Strategic Hotels & Resorts (pfd) 0.6 8.500% 12/31/2049
Stone Energy Corp. 0.6 8.625% 02/01/2017

 

Mutual fund investing involves risk. Principal loss is possible. Diversification does not assure a profit nor protect against loss in a declining market.

Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. The Fund may invest in derivative securities, which derive their performance from the performance of an underlying asset, index, interest rate or currency exchange rate. Derivatives can be volatile and involve various types and degrees of risks. Depending on the characteristics of the particular derivative, it could become illiquid. Investment in Asset Backed and Mortgage Backed Securities include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. The Fund may invest in foreign as well as emerging markets which involve greater volatility and political, economic and currency risks and differences in accounting methods.

Credit Quality weights by rating are derived from the highest bond rating as determined by S&P, Moody's or Fitch. Bond ratings are grades given to bonds that indicate their credit quality as determined by private independent rating services such as Standard & Poor's, Moody's and Fitch. These firms evaluate a bond issuer's financial strength, or its ability to pay a bond's principal and interest in a timely fashion. Ratings are expressed as letters ranging from 'AAA', which is the highest grade, to 'D', which is the lowest grade. In limited situations when none of the three rating agencies have issued a formal rating, the Advisor will classify the security as nonrated.

Holdings are subject to change and are not buy/sell recommendations. Information presented based on proprietary or third-party estimates are subject to change and cannot be guaranteed. 

1 % of Total Portfolio includes total investments, cash, and accrued investment income on a trade date basis.

Index definitions

Glossary of financial terms