Cavanal Hill Funds Long Live Your Money CONTACT ADVISOR LOGIN CAVANALHILL.COM ABOUT MUTUAL FUNDS INSIGHTS & COMMENTARY LITERATURE FINANCIAL ADVISORS Limited Duration Fund Fixed Income Home > Mutual Funds > Fixed Income > Limited Duration Fund OVERVIEW PERFORMANCE PORTFOLIO FUND GOAL We pursue a strategy of broad diversification in order to benefit from investments in both corporate and government fixed-income securities as well as mortgage backed securities (MBS) and asset-backed securities (ABS), with the fund maintaining a dollar-weighted average duration of no longer than 3.5 years. PROCESS Our Fixed Income management process is fundamentally driven, disciplined and value oriented. We construct portfolios using duration management, yield curve positioning, sector allocation, and security selection, and use these strategies as a blueprint to strive to earn results for you. How We Strive To Make Fixed Income Funds Work For You: Discover We seek opportunities to generate returns for our investors. Assess We test our discoveries for relative value and associated risk. If it’s not worth it, we go back to the drawing board. Invest We invest in assets that have value within the current market and buy when we believe the price is right. Monitor We monitor our investments closely. We ensure our reasoning remains valid and, if it isn’t, we return to the discovery phase. MARKET CONCERNS Fixed income securities are subject to interest rate risks. The principal value of a bond falls when interest rates rise and rise when interest rates fall. During periods of rising interest rates, the value of a bond investment is at greater risk than during periods of stable or falling rates. Short-term investment-grade bonds offer less risk and generally a lower rate of return than longer-term higher yielding bonds. Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of changing interest rates. MORNINGSTAR RANKINGS Category: US OE Fund Short-Term Bond (as of 9/30/2021) Rank Percentile 1 Year 423/603 74 3 Year 307/550 61 5 Year 245/485 56 10 Year 120/318 45 Rankings are for Institutional Class and are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. For periods not shown, Morningstar does not provide rankings based on synthetic performance. SHOW MORE LIPPER LEADERS DESIGNATION 5 Preservation Lipper Leader Preservation (A, Institutional and Investor Shares) 5 Expense Lipper Leader Expense (Investor Shares) LIPPER RANKINGS Category: Lipper Short Investment-Grade Debt Funds (as of 9/30/2021) Rank Percentile 1 Year 300/371 81 3 Year 140/336 42 5 Year 140/295 48 10 Year 62/200 31 The Lipper ratings for Preservation reflect the funds' historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative measures, rather than absolute measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Lipper ratings for Expense identify a fund that has successfully managed to keep its expenses low relative to its peers and within its load structure. Lipper ratings for Total Return reflect the funds' historical total return performance relative to its peers. Lipper ratings for Consistent Return identify a fund that has provided relatively superior consistency and risk-adjusted returns when compared to a group of similar funds, which achieve high ratings for Consistent Return, may be the best fit for investors who value a fund's year-to-year consistency relative to other funds in a particular peer group. Lipper ratings are subject to change every month and are based on an equal weighted average of percentile ranks for Total Return, Consistent Return, Preservation and Expense metrics over three-, five-, and ten- year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leaders with a rating of 5, the next 20% receive a rating of 4, the middle 20% are rated 3, the next 20% are rated 2, and the lowest 20% are rated 1. Past performance is no guarantee of future results. SHOW MORE FUND INFORMATION as of 10/31/21 Class A Institutional Investor Net Asset Value $9.63 $9.62 $9.63 Symbol AASTX AISTX APSTX CUSIP 14956P638 14956P406 14956P307 Inception 05/02/11 12/29/05 10/19/94 Gross Expense Ratio 0.81% 0.71% 0.96% Net Expense Ratio 0.71% 0.46% 0.71% FUND STATISTICS as of 9/30/21 Total Net Assets $82,763,296 Number of Holdings 218 Turnover Ratio 65.93% 5-Year Standard Deviation 1.17 Weighted Average Maturity (bonds) 3.14 yrs. Effective Duration (bonds) 2.18 yrs. Currently, contractural fee waivers are in effect from December 28, 2020 through December 31, 2021. Diversification does not assure a profit nor protect against loss. While the fund seeks to manage and monitor risk, there is no way to remove risk. SHOW MORE RELATED LITERATURE Fact Sheet Summary Prospectus Prospectus Statement of Additional Information Semi-Annual Report Annual Report Fact Sheet VIEW ALL LITERATURE MANAGEMENT TEAM Michael P. Maurer MBA, CFA® | SENIOR VICE PRESIDENT, SENIOR FIXED INCOME PORTFOLIO MANAGER Russell Knox CFA® | VICE PRESIDENT, FIXED INCOME PORTFOLIO MANAGER DON'T HAVE AN ACCOUNT? Sign up today for access to exclusive commentaries, sales tools, pitchbooks, and more. GET ADVISOR-ONLY INFORMATION This product may also be available in Strategies format. Click below to learn more. VIEW OUR STRATEGIES Cavanal Hill Funds ABOUT MUTUAL FUNDS INSIGHTS & COMMENTARY LITERATURE FINANCIAL ADVISORS SUBSCRIBE Sign up for our newsletter to stay updated on our latest news and events. Email Address* SUBMIT CONTACT Cavanal Hill Distributors, Inc. Attn: Bill King, Director of Sales One Williams Center Cavanal Hill Distributors, Inc. - 15th Floor Tulsa, OK 74172-0172 Email: CHInfo@cavanalhill.com Craig McQueen, Internal Sales Specialist 855-359-1898 Bill King, Director of Sales 918-382-5491 CAVANALHILL.COM PRIVACY POLICY LEGAL GLOSSARY ©2021 Distributor: Cavanal Hill Distributors, Inc. Cavanal Hill Investment Management, Inc. is an SEC registered investment adviser and a wholly-owned subsidiary of BOKF, NA, a wholly-owned subsidiary of BOK Financial Corporation, a financial holding company (“BOKF”). BOKF, NA serves as the custodian for the Cavanal Hill Funds. BOKF holdings also include Cavanal Hill Distributors, Inc., member FINRA, the distributor for the Cavanal Hill Funds (the Funds). SHOW MORE