Hawaii Municipal Bond - Class I

Fund Documents

Fact Sheet

Fund Details

Inception Date Class I - 2/16/1995
Maximum Sales Charges Institutional Shares - No Load
Ticker Symbols Institutional Shares - BSHIX
Average Weighted Maturity
(as of )
10.19 Years
Duration
(as of )
4.31 Years

Composition

(as of )

Sector Diversification

(as of )

Fund Overview

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 potential income to an equity portfolio

Investment Strategy

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.

Portfolio Characteristics

Double Tax-Free: Substantially state and Federal Tax-Exempt.

Hawaii Municipal Securities: Funding local projects.

Average Maturity: There is no limit on the average maturity of the Fund’s portfolio.

Average Duration* of Investments: While the portfolio duration of the Fund’s portfolio will vary, it is generally expected to be within a 10% margin (higher or lower) of the duration of the Fund’s benchmark index.

*Measure of price sensitivity of a fixed-income security.

Top Holdings

(as of )

Percentage of Portfolio Assets (Based on Market Value)

Holdings are subject to change.

Performance

All figures are as of (Institutional Shares)

Net Asset Value Total Net Assets
Class I

Total Return

3 Month Year To Date 1 year Annualized 3 years Annualized 5 years Annualized 10 years Annualized Since Inception
Class I

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

Investment performance does not reflect the 3.00% sales load. If it was reflected, the total return would be lower than shown.

Currently the Hawaii Municipal Bond Fund Class I Shares gross expense ratio is 1.04% and net expense ratio is 0.55%. All fee waivers are contractual through April 30, 2021.

Total Return

 

Account value if you reinvested income and capital gains

Account value if you took income and capital gains in cash

FUND MANAGEMENT

About Bishop Street Funds Investment Management

Bishop Street Capital Management, a registered investment adviser and independent subsidiary of 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.

 

The Bishop Street Funds are distributed by SEI Investments Distribution Co.(SIDCo), which is not affiliated with Bishop Street Capital Management and First Hawaiian Bank. Check the background of SIDCO on FINRA’s BrokerCheck.

Shares of Bishop Street Funds are:
NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE.
Bishop Street Funds are available to U.S. investors only and may not be available in all states.

 

Diversification may not protect against market risk.

 

To determine if these Funds are appropriate investments for you, carefully consider each Fund's investment objectives, risk factors and charges and expenses before investing. This and other information can be found in the Funds' full or summary prospectus which may be obtained by clicking here or by calling 1-800-262-9565. Please read the prospectus carefully before investing.

Bishop Street Capital Management, a registered investment advisor and wholly-owned subsidiary of First Hawaiian Bank, serves as investment advisor for the Bishop Street Funds.

Investing involves risk, including possible loss of principal. 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 will achieve its stated objective. The Fund is not diversified.