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FUND OVERVIEW

Investment Objectives and Policies

The investment objective of this fund is to seek long term capital appreciation.

Who Should Invest

The Bishop Street Strategic Growth Fund might be a good choice for you if you’re seeking to:

  • Invest for a long-term goal such as retirement.
  • Diversify the equity portion of your portfolio.
  • Participate in the growth potential of the stock market, and are willing to accept the risk of high share price volatility.
  • Hedge against inflation.

Investment Strategy

The Strategic Growth Fund invests primarily in U.S. common stocks that the Sub-Adviser believes have potential for capital appreciation. The Fund’s portfolio is comprised of approximately 25-35 stocks that have a weighting of 3-5%. The Fund expects to remain as fully invested in the above securities as practicable.

The Sub-Adviser's model focuses on "growth" stocks. These are stocks that our Sub-Adviser believes have above-average potential for long-term capital appreciation based on factors, such as, improving earnings, growth in book value, and valuation. The Fund's portfolio manager reviews portfolio weights on a daily basis to maintain approximately equal weightings of the stocks in the Fund's portfolio. The Sub-Adviser expects the Fund to experience a low level of portfolio turnover.

Industry Diversification

This refers to investing assets over various industry sectors such as financial services, pharmaceuticals, and technology companies. Diversification is important at this level because industry sectors do not perform identically to each other and it enables us to benefit from the growth opportunities of each sector. Over time, portfolio risk is reduced because sectors that perform poorly during a particular time period may be offset by sectors that are performing well.

Company Diversification

This refers to the diversification among stocks within each industry sector. This type of diversification is equally important, since companies within the same industry do not perform identically to each other. As with industry diversification, company diversification provides the opportunity to benefit from stocks that are performing well within the industry sector and offset stocks that are not performing as well.

Portfolio Characteristics

High Quality: This fund is a concentrated portfolio of high-quality franchises with above-average earnings growth potential.
Diversification: Average portfolio holding of approximately 25-35 stocks.
Large, Well Established Companies: Companies weighted median market capitalization of $30 billion.
Disciplined Investment Strategy: Portfolio invests across growth industry sectors and uses cross-correlation analysis to promote active Diversification.

Inception Date

Class I - 7/1/2002

Maximum Sales Charges

Institutional Shares - No Load

Ticker Symbols

BSRIX

Composition

as of Dec 31, 2016

Equities100.0%

Sector Diversification

as of Dec 31, 2016

Business Services 28.3%
Chemicals and Allied Products 23.3%
Miscellaneous Retail 9.5%
Instruments and Related Products 7.2%
Security, Commodity Brokers & Services 5.8%
Rubber and Miscellaneous Plastics Products 4.2%
Eating and Drinking Places 4.1%
Transportation Services 3.7%
Electronic and Other Electric Equipment 3.3%
Food and Kindred Products 3.3%

Top Holdings

as of Dec 31, 2016

Percentage of Portfolio Assets (Based on Market Value)
AMAZON.COM INC 4.6%
BRISTOL-MYERS SQUIBB CO 4.5%
CELGENE CORP 4.2%
NIKE INC -CL B 4.2%
STARBUCKS CORP 4.1%
PRICELINE GROUP INC/THE 3.7%
FACEBOOK INC-A 3.7%
ALIBABA GROUP HOLDING-SP 3.6%
MOBILEYE NV 3.6%
VERTEX PHARMACEUTICALS IN 3.4%

Holdings are subject to change.

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PERFORMANCE

All figures are as of Feb 28, 2017 (Institutional Shares)

Net Asset Value

Class I $13.25

Total Net Assets

Class I $29,433,428

Total Return

 
Description 3 Month Year To Date 1 year Annualized
3 years
Annualized
5 years
Annualized
Since Inception
10.42%12.29%23.03%3.63%9.59%7.23%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. For standard performance, click here

Currently the Strategic Growth Fund Class I Shares gross expense ratio is 1.40% and net expense ratio is 1.25%. All fee waivers are contractual through April 30, 2017.

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FUND MANAGEMENT

About Bishop Street Funds Investment Management

Investment Adviser

Bishop Street Capital Management, a registered investment adviser and independent subsidiary of BancWest Corporation and First Hawaiian Bank, serves as investment adviser to the Bishop Street Funds.

As of December 31, 2013, Bishop Street Capital Management manages $342.8 billion in assets for institutional and individual investors. BancWest Corporation, the parent company of Bishop Street Capital Management, First Hawaiian Bank and Bank of the West, is a bank holding company.

Investment Sub-Adviser

Columbia Management Investment Advisers, LLC (CMIA) (formerly, RiverSource Investments, LLC) serves as the Fund’s sub-adviser and manages the Fund’s assets on a day-to-day basis. CMIA, located at 100 Federal Street, Boston, MA 02110, is an investment adviser registered with the SEC under the Advisers Act and is an indirect, wholly owned subsidiary of Ameriprise Financial, Inc., located at 1099 Ameriprise Financial Center, Minneapolis, Minnesota 55474. CMIA’s management experience covers all major asset classes, including equity securities, fixed income securities and money market instruments. In addition to serving as investment adviser to mutual funds, CMIA acts as investment manager for individuals, corporations, retirement plans, private investment companies and financial intermediaries. As of December 31, 2013, CMIA had assets under management of approximately $352.6 million.

Investment Philosophy

Our goal is to help you build the assets you have worked hard to accumulate. Our investment strategy is designed to emphasize and deliver quality investments to shareholders, manage risk and deliver consistent performance.

Disclosure

To determine if the Funds are an appropriate investment for you, carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and other information can be found in the Funds' prospectus, which may be viewed and downloaded by clicking the link above or by calling 1-800-262-9565. Please read the prospectus carefully before investing.

Diversification may not protect against market risk. Investing involves risk, including possible loss of principal.

Bishop Street Capital Management, an investment subsidiary of First Hawaiian Bank, serves as investment adviser for the Bishop Street Funds. The Bishop Street Funds are distributed by SEI Investments Distribution Co., which is not affiliated with BancWest Corporation, or Paribas North America, Inc., or any of their subsidiaries. Securities offered through BancWest Investment Services, a registered broker dealer, member FINRA/SIPC. Investment professionals are registered representatives of BancWest Investment Services.

NOT FDIC INSURED. NO BANK GUARANTEE. MAY LOSE VALUE.