*You will need Adobe Acrobat to view and print the fact sheet.
|Download Adobe Acrobat Reader.|
Investment Objectives and Policies
The investment objective of this Fund is to provide high current income that is substantially exempt from Federal and state of Hawaii income taxes.
Who Should Invest
The Bishop Street Hawaii Municipal Bond Fund might be a good choice for you if you're seeking to:
- Increase your after-tax return with tax-free income.
- Protect your investment income from Federal and Hawaii state personal income taxes.
- Diversify your portfolio by adding income to an equity portfolio
Mike and Sharon Kaiser have "done well" over the years, and that's good news, but their current investments carry a big tax burden. While they don't plan to officially retire, they do plan to live off the income from their investments. Since they're in the highest tax bracket, the Bishop Street Hawaii Municipal Bond Fund can help them build Federal and Hawaii tax-free earnings, giving them a steady stream of income without having to pay as much of it in taxes.
The Bishop Street Hawaii Municipal Bond Fund can help provide current income and tax advantages. This fund invests primarily in high grade, short-term bonds issued by Hawaii government entities. What that means for most Hawaii residents is that income from this fund is substantially double tax-exempt, free from both Hawaii state and federal personal income taxes.
There is no guarantee the Fund's income will be exempt from federal or state income taxes. Capital gains, if any, are subject to capital gains taxes.
Hawaii Municipal Securities: Funding local projects.
Average Maturity: Intermediate term bonds with maturity between 10 and 15 years.
Average Duration* of Investments: 7 to 10 years.
Liquidity: Access to your money.
Double Tax-Free: Substantially state and Federal Tax-Exempt.
*Measure of price sensitivity of a fixed-income security.
Fund - 2/16/1995 §
Class A Shares - 6/14/1999
Maximum Sales Charges
Class A Shares - 3.00%
Class A Shares - BHIAX
as of Jun 30, 2017
|Average Weighted Maturity||as of Sep 30, 2017|
|Duration||as of Sep 30, 2017|
as of Jun 30, 2017
|▪||Alternative Minimum Tax Issue||1.2%|
as of Jun 30, 2017
|Percentage of Portfolio Assets (Based on Market Value)|
|HIS BUDGET 07/01/2039||3.2%|
|HAWAII DEPT TRANS||3.0%|
|HISGEN 5.0 7/1/35||2.9%|
|HISTRN 5.00 08/01/21||2.1%|
|HIARPTS 5.25 7/1/2027||2.0%|
|HAWAII ST (5.00000%)||1.8%|
|HIS APT 5.0 7/1/24||1.6%|
|HAWAII ST DEPT OF BUD||1.6%|
|HI HSG-REF-B-RE (6.5%)||1.6%|
|HI HM KAPOLEI O (5%)||1.5%|
Holdings are subject to change.RETURN TO TOP
All figures are as of Sep 30, 2017
Net Asset Value
|Class A $10.62|
Total Net Assets
|Class A $20,702,586|
|Description||3 Month||Year To Date||1 year||
10 years §
Since Inception §
If the fund is less than 1 year old, cumulative return since inception is shown; if the fund is less than 10 years old, annualized return since inception is shown.
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. Prior to February 1, 2010, the Fund’s principal investment strategy was to invest at least 80% of its net assets in large-cap equity securities; therefore, the past performance shown may have differed had the Fund’s current investment strategy been in effect. For standard performance, click here
§ The performance presented for class A links the performance of an older class of shares from inception on 2/16/95 to 6/14/99 with the performance of this class of shares after its inception on 6/14/99.
Bond and bond funds will decrease in value as interest rates rise.
In addition to the normal risks associated with investing, because the Hawaii Municipal Bond Fund primarily invests in Hawaiian securities, it may be more volatile and susceptible to a single adverse economic or regulatory occurrence affecting those obligations.
There is no guarantee the Fund's income will be exempt from federal or state income taxes. Capital gains, if any, are subject to capital gains taxes. The Fund is not diversified.
Currently the Hawaii Municipal Bond Fund Class A Shares gross expense ratio is 1.27% and net expense ratio is 0.80%. All fee waivers are contractual through April 30, 2018.
|Growth of a $10,000 Investment|
|(Since Inception Date: 2/16/1995 §)|
Account value if you reinvested income and capital gains $25,203
Account value if you took income and capital gains in cash $10,301
About Bishop Street Funds Investment Management
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.
BancWest Corporation, the parent company of Bishop Street Capital Management, First Hawaiian Bank and Bank of the West, is a bank holding company.
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.
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' full or summary 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., 1 Freedom Valley Dr., Oaks, PA 19456 which is not affiliated with BancWest Corporation, or Columbia Management Investment Advisers, LLC, or any of their subsidiaries. Check the background of SIDCO on FINRA's BrokerCheck.
NOT FDIC INSURED. NO BANK GUARANTEE. MAY LOSE VALUE.