PineBridge US Mid Cap Growth Fund*
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QUICK LOOK As of
09/02/2010
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Ticker Symbol
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CUSIP
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Fund Number
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Inception Date
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Daily Nav
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Daily Changes
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PBDRX
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72302A606
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1417
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3/31/00
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$
7.56
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$
0.00
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Fund Objective
To provide maximum capital appreciation, consistent with reasonable risk to principal.
We seek to achieve this objective by investing, under normal market conditions, at least 80% of its net assets (plus the amount of borrowings for investment purposes) in stocks of US middle capitalization (“mid-cap”) issuers. A mid cap issuer is currently defined as an issuer that, at the time of purchase by the Fund, has a market capitalization of (1) between $1.0 billion and $12 billion; or (2) within the range of companies represented in the Russell Midcap® Growth Index (the “Mid Cap Index”).
Fund Description
The Fund provides a source of growth opportunities, with potentially less risk than
smaller capitalization stocks. For years it has been our belief that mid cap stocks
merely represent companies further along in their maturity curve, yet still early
enough in their life cycles, to present rapid growth opportunities. This asset class
offers some unique and positive characteristics such as:
- Maturity as it relates to the management and execution of the business model
- Growth potential not encumbered by size
- Less than efficient stock market pricing largely due to a modest level of quality
research
- Reasonably good market liquidity for stock trading
In short, these stocks combine the growth qualities of small caps and the stability
of large caps.
We look for growth catalysts by categorizing each candidate based on its stage of
development and then use multiple screens to identify prospective portfolio companies.
To manage fluctuations in the value of the Portfolio's investments, we invest across
numerous industry sectors with no industry representing more than 25% of the value of the Portfolio.
We conduct due diligence with each company's senior management, suppliers, competitors
and customers in an attempt to understand its dynamics.
Finally, we select companies we feel have:
- Strong growth in revenue
- Earnings and cash flow
- Predictable operating models
- Seasoned management
- Unique products or services.
Once selected, companies are continuously monitored and placed on a “suspect”
or watch list if it they fail to meet a certain set of criteria.
The team adheres to this disciplined investment process in managing the Fund. The
process ensures that the team evaluates companies on the criteria most relevant
to their stage of development, stands behind their stock picks and eliminates the
human bias in picking and holding stocks.
Investor Profile
The PineBridge US Mid Cap Growth Fund may be appropriate for investors who:
- Are seeking long-term capital growth
- Do not need current income
- Are willing to hold an investment over a long period of time
- Are able to tolerate fluctuations in the principal value of their investment
- Understand and can bear the risks of investing in mid cap companies
Minimums, Fees & Expenses as of 3/31/2009
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Class
|
Minimum Investment
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Fund Expenses
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Total Annual
Operating Expenses** |
Expense Ratio Cap
|
|
Management Fee
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Distribution Fee*
|
|
I
|
$1,000,000
|
0.75%
|
-
|
1.21% |
1.20%
|
|
R
|
$2,500
|
0.75%
|
0.35%
|
1.56% |
1.55%
|
|