Oklahoma-Based Cavanal Hill Honored Again with Lipper Fund Award
Oklahoma-Based Cavanal Hill Honored Again with Lipper Fund Award
TULSA, Okla.--(BUSINESS WIRE)-- Cavanal Hill Investment Management Inc. (Cavanal Hill) announces it has once again been honored by the Thomson Reuters Awards of Excellence with a Lipper Fund Award, as well as three number one Lipper rankings. The Lipper Fund Awards are given out annually to recognize funds that have excelled in delivering strong risk-adjusted performance relative to their peers.
Cavanal Hill's Intermediate Bond Fund, Institutional (AIFBX) received the prestigious Lipper Fund Award for ranking number one out of 125 funds in the short-intermediate investment grade debt category for the three-year period ending Nov. 30, 2012. Last year, Cavanal Hill received a Fund Award for its Short-Term Income Fund, Institutional (AISTX) which was ranked number one out of 199 funds in the short investment-grade debt category for the three-year period ending Nov. 30, 2011.
"Being honored with a Lipper Fund Award two years in a row is an achievement few firms ever realize," said Brian Henderson, president of Cavanal Hill. "Our fixed income team continues to excel, earning numerous top rankings over the years and now another Lipper Fund Award."
The Lipper Fund winner, Intermediate Bond Fund, Institutional (AIFBX), was also the best performing fund over the annualized three-year period. Mike Maurer, senior vice president and senior fixed income portfolio manager, said the recognition is a strong demonstration of Cavanal Hill's commitment to its investment process.
"Cavanal Hill is diligent in finding quality fixed income opportunities by searching for possible sources of inefficiencies, regardless of sector," said Maurer.
Two additional Cavanal Hill funds received top rankings. Opportunistic Fund, Institutional (AIOPX), received a number one ranking for the one-year period ending Dec. 31, 2012. The U.S. Treasury Fund, Administrative (AIOPX), also received the number one ranking for the three-year period ending Dec. 31, 2012.
The Opportunistic Fund, Institutional (AIOPX) ranked number one out of 259 funds in the absolute return category for the 12-month period ending Dec. 31, 2012. Senior vice president and equity portfolio manager, Matt Stephani leads the fund, which just completed its first full year. Stephani said Wall Street firms minimized their equity research teams as a result of the market crash in 2008, which has led to a number of investment opportunities being overlooked.
"Our team seeks out the misunderstood or under-researched opportunities," Stephani said. "The flexibility of the Opportunistic Fund allows us to reduce our exposure to markets when opportunities are scarce, as well."
Cavanal Hill's U.S. Treasury Fund, Administrative (APGXX) ranked number one out of 65 funds in the U.S. treasury money market category for the annualized three-year period ending Dec. 31, 2012. Vice president and money market fund manager Michael Kitchen said the fund's positive performance was due to a combination of factors.
"Our team anticipated the interest rate environment which allowed us to maximize yield," said Kitchen. "We also maintained a good mix of repurchase agreements, treasuries and FDIC-guaranteed debt, always balancing the effort to maximize yield with the need for creditworthiness and ample liquidity."
Henderson said Cavanal Hill's success ultimately comes down to good decision making in a tough economic environment.
"Our ability to successfully navigate the extremely low interest rates in this market is demonstrated by this recognition," said Henderson.
Cavanal Hill is an affiliate of BOK Financial, a $28 billion financial services company headquartered in Tulsa, Okla.
About Cavanal Hill Investment Management, Inc.
Cavanal Hill Investment Management, Inc. is a holding of BOK Financial Corporation (BOKF), a $28 billion regional financial services company based in Tulsa, Okla. BOKF's stock is publicly traded on NASDAQ under the Global Select market listings (symbol: BOKF). BOK Financial's holdings include BOKF, NA, BOSC, Inc., The Milestone Group, Inc., and Cavanal Hill Investment Management, Inc. BOKF, NA operates the TransFund electronic funds network and seven banking divisions: Bank of Albuquerque,Bank of Arizona,Bank of Arkansas,Bank of Kansas City,Bank of Oklahoma,Bank of Texas, and Colorado State Bank and Trust. Through its subsidiaries, the company provides commercial and consumer banking, investment and trust services, mortgage origination and servicing, and an electronic funds transfer network. For more information, visit www.bokf.com.
Lipper, Inc., is a Reuters Company. Lipper ranks the performance of mutual funds within a universe of funds that have similar investment objectives. Bonds 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 bonds in a rising interest rate environment. Fund rankings are from Lipper. The Lipper Mutual Fund rankings are the ranking of mutual funds within their respective Lipper classification, adjusted for reinvestment of capital gains distributions and income dividends.
Lipper Rankings
FUND | 1-year | 3-year | 5-year | 10-year | ||||||||
Intermediate Bond Fund, Institutional (AIFBX)1 as of 12/31/12 | 6 out of 143 | 1 out of 126 | 49 out of 117 | NA | ||||||||
Opportunistic Fund, Institutional (AIOPX)2 as of 12/31/12 | 1 out of 259 | NA | NA | NA | ||||||||
U.S. Treasury Fund, Administrative (APGXX)3 as of 12/31/12 | 4 out of 67 | 1 out of 65 | 21 out of 61 | 14 out of 45 | ||||||||
Cavanal Hill Short-Term Income Fund, Institutional (AISTX) 12/31/12 | 53 out of 262 | 3 out of 218 | 92 out of 189 | NA | ||||||||
Cavanal Hill Short-Term Income Fund, Institutional (AISTX) 11/30/11 | 1 out of 241 | 4 out of 202 | 98 out of 176 | NA |
Based on total returns, not risk-adjusted.
Returns
FUND | 1-year Average Annual Total Return | 5-year Average Annual Total Return | 10-year Average Annual Total Return | ||||||
Intermediate Bond Fund, Institutional (AIFBX)1 as of 12/31/12 | 10.30% | 4.99% | NA | ||||||
Opportunistic Fund, Institutional (AIOPX)2 as of 12/31/12 | 17.12% | NA | NA | ||||||
U.S. Treasury Fund, Administrative (APGXX)3 as of 12/31/12 | 0.01% | 0.24% | 1.32% | ||||||
Cavanal Hill Short-Term Income Fund, Institutional (AISTX) 12/31/12 | 4.78% | 3.36% | NA |
An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the U.S. Treasury Fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the fund.
On July 30, 2010, two of the funds described above (AIFBX and APGXX) were among the Cavanal Hill Funds which received proceeds as part of a distribution from a "fair fund" established by the SEC in connection with a consent order against BISYS Fund Services, Inc. This distribution was not in respect of the performance of securities invested by the funds. As a result, the yield numbers for the funds were affected, in some instances materially, by this distribution. The income associated with the distribution is non-recurring and the effect is not expected to be duplicated. Information about the settlement may be obtained at www.bisysfairfund.com.
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"). SEC registration does not imply a certain level of skill or training. BOKF, NA serves as the custodian for the Cavanal Hill Funds. BOKF holdings also include BOSC, Inc., the distributor for the Cavanal Hill Funds (the Funds).
BOSC, Inc. a registered Broker/Dealer, member FINRA/SIPC. BOSC, Inc. is wholly-owned subsidiary of BOK Financial Corporation, and an affiliate of BOKF, NA and Cavanal Hill Investment Management, Inc.
Past performance does not guarantee future results. Investments are subject to risks, including the possible loss of the principle amount invested. An investor should consider the Fund's investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the investment company can be found in the Fund's prospectus or summary prospectus. To obtain a prospectus or summary prospectus online, please visit www.cavanalhillfunds.com or call 1-800-762-7085. Please read the prospectus or summary prospectus carefully before investing.
MUTUAL FUNDS AND OTHER INVESTMENTS: NOT FDIC INSURED - MAY LOSE VALUE - NO BANK GUARANTEE
Cavanal Hill Investment Management, Inc.
Andrea Myers, 918-594-7794
VP Senior Communications Manager
amyers@bokf.com
KEYWORDS: United States North America Oklahoma
INDUSTRY KEYWORDS:
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