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FUND OVERVIEW

Investment Objectives and Policies

The investment objective of the Bishop Street Short-Duration Bond Fund (the "Fund") is to provide high total return, consistent with preservation of capital and maintenance of liquidity.

Who Should Invest

The Bishop Street Short-Duration Fund offers investors a professionally managed portfolio which invests in, short to intermediate term, high quality government and agency securities. Although generally regarded as relatively stable, bonds may fluctuate in value.

Portfolio Characteristics

Inception Date

Class I - 5/31/2016

Ticker Symbols

Institutional Shares - BSSDX

Composition

as of Jun 30, 2017

Fixed Income98.5%
Cash Equivalents1.5%

Sector Diversification

as of Jun 30, 2017

FNMA 39.8%
FHLMC 25.7%
U.S. Treasury Instruments 23.7%
Unknown 6.4%
GNMA 2.9%
STIFs/Money Markets 1.5%

Top Holdings

as of Jun 30, 2017

Percentage of Portfolio Assets (Based on Market Value)
FREDDIE MAC 1.25% 8/1/19 10.1%
FHLMC 0 3/4 04/09/18 8.9%
FHLB 1 3/8 11/15/19 5.9%
WIT WI 05/15/2019 5.7%
T 0 7/8 05/31/18 5.0%
T 1 3/8 12/15/19 4.5%
T 0 3/4 08/31/18 2.4%
FN AL7387 4.000000% 07/01 2.3%
FN AL1870 3.500000% 05/01 2.1%
FN AL8013 2.593000% 12/01 2.1%

Holdings are subject to change.

Return To Top

Performance

All figures are as of Aug 31, 2017 (Institutional Shares)

Net Asset Value

Class I $9.86

Total Net Assets

Class I $11,870,642

Total Return

Description 3 Month Year To Date 1 year Annualized
3 years
Annualized
5 years
Annualized
10 years
Annualized
Since Inception
Class I0.10%0.63%0.17%N/AN/AN/A0.25%

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

Bond and bond funds will decrease in value as interest rates rise.

In addition to the normal risks associated with investing, mortgage-backed securities are subject to prepayment and extension risk and therefore react differently to changes in interest rates than other bonds. Small movements in interest rates may quickly and significantly reduce the value of certain mortgage-backed securities.

Short-Duration Bond Fund gross expense is 1.88%.The Adviser has voluntarily agreed to reduce fees and reimburse expenses to the extent necessary to keep net operating expenses (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses) from exceeding 0.55%.The Adviser intends to continue these fee reductions and expense reimbursements until further notice, but may discontinue them at any time.

Redemption fee if shares redeemed within less than 30 days is 1.00% for the Short-Duration Bond Fund. Your return will be lower if a redemption fee is applied to your account.


Growth of a $10,000 Investment
(Since Inception Date: 5/31/2016)

Account value if you reinvested income and capital gains $10,031


Account value if you took income and capital gains in cash $9,860

Return To Top

Fund Management

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.

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' 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. 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.