Carefully consider the investment objectives, risks, charges and expenses before investing. A prospectus, obtained by calling 800-669-3900, contains this and other important information about an investment company. Read carefully before investing.
A mutual fund is not FDIC-insured, may lose value, and is not guaranteed by a bank or other financial institution.
Performance quoted represents past performance, is no guarantee of future results, and may not provide an adequate basis for evaluating the performance of the product over varying market conditions or economic cycles. Current performance may be lower or higher than the performance data quoted. 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.
TD Ameritrade receives remuneration from mutual fund companies, including those participating in its no-load, no-transaction-fee program, for recordkeeping, shareholder services, and other administrative and distribution services. The amount of TD Ameritrade's remuneration for these services is based in part on the amount of investments in such funds by TD Ameritrade clients. PLEASE ALSO SEE IMPORTANT ADDITIONAL FUND FEE DISCLOSURE INFORMATION
No-transaction-fee funds and other funds offered through TD Ameritrade have other fees and expenses that apply to a continued investment in the fund and are described in the prospectus.
Mutual funds, closed-end funds and exchange-traded funds are subject to market, exchange rate, political, credit, interest rate, and prepayment risks, which vary depending on the type of fund. International investments involve special risks, including currency fluctuations and political and economic instability. Asset allocation and diversification do not eliminate the risk of experiencing investment losses. Fund purchases may be subject to investment minimums, eligibility and other restrictions, as well as charges and expenses.
1You could lose money by investing in a money market fund.Although the fund seeks to preserve the value of your investment at $1 per share, it cannot guarantee it will do so.The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the FDIC or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.
2You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the FDIC or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.
3You could lose money by investing in a money market fund. Because the share price of the fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the fund is not insured or guaranteed by the FDIC or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.
Most mutual funds charge 2.00% on the redemption of shares (including by exchange) held for less than a certain number of calendar days. Performance figures reported do not reflect the deduction of this fee. If reflected, the fee would reduce the performance quoted. Please refer to the fund's prospectus for redemption fee information. TD Ameritrade may also charge its own short-term redemption fee.
TD AMERITRADE RISKS OF INVESTING IN FUNDS: PLEASE READ IMPORTANT ADDITIONAL MUTUAL FUND, EXCHANGE-TRADED FUND, AND CLOSED-END FUND RISK DISCLOSURES
Research and planning tools are obtained by unaffiliated third-party sources deemed reliable by TD Ameritrade. However, TD Ameritrade does not guarantee their accuracy and completeness and makes no warranties with respect to results to be obtained from their use. The Investment Profile report is for informational purposes only.
Mutual Funds: Commentary
The financial field continues to be male-dominated, and there hasn’t been a substantial shift in the number of female portfolio managers over the past decade. Only about 12.5% of portfolio managers across U.S.-domiciled active and passive funds were female in 2022, a similar proportion as a decade prior. Despite that low representation and the systemic obstacles they face, women have been making their mark in portfolio management. Morningstar analysts have identified a number of lead female portfolio managers or all-female teams as being more skilled than their average Morningstar Category peer.
In honor of International Women’s Day, we highlight the 31 female lead portfolio managers and teams of women managers that earn the coveted High or Above Average People Pillar ratings from Morningstar analysts in the United States. Last year, who earned those grades. Star portfolio managers like Ramona Persaud, Sonali Pier, and Michelle Black are just a few of the women who have spearheaded their respective funds and have led investors to financial success under their leadership. Below we showcase those three exceptional women.
Ramona Persaud, Fidelity
Ramona Persaud has built an impressive career at Fidelity and demonstrated her skill as a diversified value-oriented manager. She never rests on her laurels; instead, her drive to improve paired with the analytical rigor she applies to her process have led to continued excellence.
Over her tenure on both Fidelity Equity-Income (which earns a Morningstar Analyst Rating of Silver) and Fidelity Global Equity Income (Analyst Rating of Bronze), her methodical approach has delivered relatively smooth rides and steady income to investors. She deftly makes excellent stock picks and isn’t afraid to embrace out-of-benchmark stocks. Though her tenure on Fidelity Equity-Income dates back to 2011, she became the lead more recently in early 2018. Since taking the wheel, she has astutely navigated her mandate and delivered high total and risk-adjusted returns compared with the fund’s large-value category peers and benchmark (Russell 1000 Value Index).
Sonali Pier, Pimco
Sonali Pier has demonstrated her sharp analytical eye and willingness to think beyond the norms. That has allowed her to quickly rise to a leadership position at bond giant Pimco, where climbing the ranks is particularly competitive. Her ability to become an influential stakeholder at the firm and deliver strong performance on Gold-rated Pimco Dividend Income supported her winning Morningstar’s Rising Star award in 2021.
Pier was named manager of Pimco Diversified Income in February 2017, after working at the firm for four years, and manager of Silver-rated Pimco High Yield in 2019. She sits on the firm’s executive committee and previously served as a rotating member of the investment committee, demonstrating her valued voice and continued impact on the firm, particularly within the multisector credit group. Despite Pimco Diversified Income’s leniency to take risk, she paves a contrarian path that demonstrates she is able to take less risk without sacrificing returns. Her results speak for themselves. Over her tenure from February 2017 to February 2023, the fund’s annualized and risk-adjusted returns top both its multisector bond category peers and benchmark (Bloomberg US Universal Index).
Michelle Black, American Funds
Michelle Black serves as the principal investment officer on the American Funds Target Retirement series, and her impact has kept it a step ahead in the highly competitive target-date landscape. She has chaired the firm’s target-date solutions committee since its formation in January 2020. Prior to that, she oversaw asset allocation for the firm’s private high-net-worth clients. Her experience building portfolios for a variety of client needs lends itself well to leading the research underpinning this series across the glide path.
Since she joined the team, it has finally struck the right balance between the firm’s renowned bottom-up security selection and top-down asset-allocation research, which has led to sensible changes over the past two years. The series now makes more use of its underlying funds’ flexibility to allocate across geographies and sectors. That plays squarely into the firm’s strengths and should benefit target-date investors over the long term.
Morningstar’s Top Female Managers of 2023
These are just a few of the excellent female portfolio managers under our coverage. Below we list the sole lead female or team of women managers across the U.S. that earn Above Average or High People Pillar ratings, indicating Morningstar analysts’ confidence in the portfolio management team and the strategy. Each of these women’s Morningstar Medalist funds deserves a spot on investors’ watchlists.
Profitable Lessons From the Bad Timing of Other Investors
U.S. Fund Flows: Widespread Outflows Defined March
How Can Active Stock Managers Improve Their Funds’ Performance? By Taking a Vacation—a Long One
How Do Your State’s 529 Tax Benefits Stack Up?
Bracing for Breakthroughs
May ETF Flows Favor Recent Winners from Divergent Stock Market
U.S. Government’s Investment Options Good but Could Be Great
Investing in Times of Climate Change 2023
Mastering Multifactor Funds
Why This BlackRock Allocation Fund Earned an Upgrade
3rd Party Research Disclosure /public-11:50:27
Market Data Disclosure