FAM Funds Overall Morningstar Rating™
Overall Morningstar Rating™ as of 3/31/17 (Investor Share Class)
Rating/Number of Funds in the Category
|Fund Name||Overall Rating||3-Year||5-Year||10-year||Category|
|FAM Value Fund||Mid-Cap Growth|
|out of 580||out of 580||out of 500||out of 368|
|FAM Equity-Income Fund||
|out of 377||out of 377||out of 340||out of 219|
|FAM Small Cap Fund*||—||Small Blend|
|out of 625||out of 625||out of 537|
The Morningstar Rating™ is a quantitative assessment of a fund’s past performance — both return and risk — as measured from 1 to 5 stars. It uses focused comparison groups to better measure fund manager skill. As always, the Morningstar Rating™ is intended for use as the first step in the fund evaluation process. A high rating alone is not a sufficient basis for investment decisions.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
The FAM Value Fund received a 4-Star Overall Morningstar Rating™ for the 3-Year, 4-Star Overall Morningstar Rating™ for the 5-Year, and 3-Star Overall Morningstar Rating™ for the 10-Year periods ending 3/31/2017 among 580, 500, and 368 Mid-Cap Growth funds, respectively. It is important to keep in mind that different share classes of the Fund may have different ratings.
The FAM Equity-Income Fund received a 5-Star Overall Morningstar Rating™ for the 3-Year, 3-Star Overall Morningstar Rating™ for the 5-Year, and 4-Star Overall Morningstar Rating™ for the 10-Year periods ending 3/31/2017 among 377, 340, and 219 Mid-Cap Blend funds, respectively.
The FAM Small Cap Fund received a 4-Star Overall Morningstar Rating™ for the 3-Year and 4-Star Overall Morningstar Rating™ for the 5-Year periods ending 3/31/2017 among 625 and 537 Small Blend funds, respectively. *The inception date of the FAM Small Cap Fund is 3/1/12. It is important to keep in mind that different share classes of the Fund may have different ratings.
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