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Summary Prospectus
Corporate Bond Fund
AUGUST 1, 2011
Class / Ticker Symbol A / SAINX C / STIFX I / STICX
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Before you invest, you may want to review the Funds
Prospectus and Statement of Additional Information, which
contain more information about the Fund and its risks. You can
find the Funds Prospectus, Statement of Additional
Information and other information about the Fund online at
www.ridgeworth.com/prospectus. You can also get this information
at no cost by calling the Funds at
1-888-784-3863
or by sending an email request to info@ridgeworth.com. The
current Prospectus and Statement of Additional Information,
dated August 1, 2011, are incorporated by reference into
this summary prospectus.
Investment
Objective
The Corporate Bond Fund (the Fund) seeks current
income and, secondarily, preservation of capital.
Fees and Expenses
of the Fund
This table describes the fees and expenses that you may pay if
you buy and hold shares of the Fund. You may qualify for sales
charge discounts if you and your family invest, or agree to
invest in the future, at least $50,000 in RidgeWorth Funds. More
information about these and other discounts is available from
your financial professional and in Sales Charges on page 90
of the Funds prospectus and Rights of Accumulation on
page 91 of the Funds statement of additional
information.
Shareholder
Fees
(fees paid directly from your
investment)
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A Shares
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C Shares
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I Shares
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Maximum Sales Charge (load) Imposed on Purchases (as a % of
offering price)
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4.75%
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None
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None
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Maximum Deferred Sales Charge (load) (as a % of net asset value)
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None
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1.00%
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None
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Annual
Fund Operating Expenses
(expenses that you pay each year as
a percentage of the value of your
investment)
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A Shares
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C Shares
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I Shares
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Management Fees
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0.40%
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0.40%
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0.40%
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Distribution (12b-1) Fees
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0.30%
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1.00%
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None
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Other Expenses
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0.13%
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0.10%
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0.12%
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Total Annual Fund Operating Expenses
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0.83%
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1.50%
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0.52%
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Example
This Example is intended to help you compare the cost of
investing in the Fund with the cost of investing in other mutual
funds. The Example assumes that you invest $10,000 in the Fund
for the time periods indicated. The Example also assumes that
your investment has a 5% return each year and that the
Funds operating expenses remain the same and you reinvest
all dividends and distributions. Although your actual costs may
be higher or lower, based on these assumptions your costs would
be:
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1 Year
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3 Years
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5 Years
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10 Years
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A Shares
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$
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556
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$
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728
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$
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915
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$
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1,456
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C Shares
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$
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253
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$
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475
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$
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820
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$
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1,796
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I Shares
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$
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53
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$
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167
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$
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291
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$
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656
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You would pay the following expenses if you did not redeem
your shares:
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1 Year
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3 Years
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5 Years
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10 Years
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A Shares
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$
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556
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$
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728
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$
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915
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$
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1,456
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C Shares
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$
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153
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$
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475
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$
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820
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$
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1,796
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I Shares
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$
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53
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$
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167
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$
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291
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$
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656
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Portfolio
Turnover
The Fund pays transaction costs, when it buys and sells
securities (or turns over its portfolio). A higher
portfolio turnover rate may indicate higher transaction costs
and may result in higher taxes when Fund shares are held in a
taxable account. These costs, which are not reflected in annual
fund operating expenses or in the example, affect the
Funds performance. During the most recent fiscal year, the
Funds portfolio turnover rate was 47% of the average value
of its portfolio.
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August 1,
2011
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1
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Summary Prospectus
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Principal
Investment Strategies
The Fund invests in a diversified portfolio of U.S. dollar
denominated corporate obligations and other fixed income
securities that are rated BBB-/Baa3 or better by
Standard & Poors Ratings Services, Moodys
Investors Service or Fitch Ratings or unrated securities that
the Funds Subadviser, Seix Investment Advisors LLC
(Seix or the Subadviser), believes are
of comparable quality. Under normal circumstances, the Fund
invests at least 80% of its net assets (plus any borrowings for
investment purposes) in corporate bonds. The Fund may also
invest in U.S. Treasury and agency obligations. The Fund
may invest in U.S. dollar denominated obligations of
U.S. and
non-U.S. issuers.
The Fund may invest a portion of its assets in securities that
are restricted as to resale.
The Fund will maintain an overall credit quality of A- or
better. Securities downgraded below BBB-/Baa3 after purchase by
all agencies that rate the securities can be retained so long as
in the aggregate securities that are rated below BBB-/Baa3 do
not constitute more than 10% of the Funds total net assets.
The Subadviser attempts to identify investment grade corporate
bonds offering above average total return. In selecting
corporate debt investments for purchase and sale, the Subadviser
seeks out companies with good fundamentals and above average
return prospects that are currently priced at attractive levels.
The primary basis for security selection is the potential income
offered by the security relative to the Subadvisers
assessment of the issuers ability to generate the cash
flow required to meet its obligations. The Subadviser employs a
bottom-up
approach, identifying investment opportunities based on the
underlying financial and economic fundamentals of the specific
issuer.
Principal
Investment Risks
You may lose money if you invest in the Fund. A Fund share is
not a bank deposit and it is not insured or guaranteed by the
Federal Deposit Insurance Corporation or any other government
agency.
Below Investment Grade Securities Risk: Securities that
are rated below investment grade (sometimes referred to as
junk bonds), including those bonds rated lower than
BBB- by Standard and Poors and Fitch, Inc. or
Baa3 by Moodys Investors Services, Inc.), or
that are unrated but judged by the Subadviser to be of
comparable quality, at the time of purchase, involve greater
risk of default or downgrade and are more volatile than
investment grade securities. Below investment grade securities
may also be less liquid than higher quality securities, and may
cause income and principal losses for the Fund.
Debt Securities Risk: Debt securities, such as bonds,
involve credit risk. Credit risk is the risk that the borrower
will not make timely payments of principal and interest. Changes
in an issuers credit rating or the markets
perception of an issuers creditworthiness may also affect
the value of the Funds investment in that issuer. The
degree of credit risk depends on the issuers financial
condition and on the terms of the securities. Debt securities
are also subject to interest rate risk, which is the risk that
the value of a debt security may fall when interest rates rise.
In general, the market price of debt securities with longer
maturities will go up or down more in response to changes in
interest rates than the market price of shorter term securities.
Foreign Companies Risk: Dollar denominated securities of
foreign issuers involve special risks such as economic or
financial instability, lack of timely or reliable financial
information and unfavorable political or legal developments.
U.S. Government Agencies Risk: Obligations of
U.S. government agencies and authorities are supported by
varying degrees of credit, but generally are not backed by the
full faith and credit of the U.S. government.
U.S. government agencies debt securities may underperform
other segments of the fixed income market or the fixed income
market as a whole.
Performance
The bar chart and the performance table that follow illustrate
the risks and volatility of an investment in the Fund. The
Funds past performance (before and after taxes) does not
indicate how the Fund will perform in the future. The Fund began
operating April 1, 2009. Performance prior to April 1,
2009 is that of the Strategic Income Fund, the Funds
predecessor, which began operations on November 30, 2001.
Updated performance information is available by contacting the
RidgeWorth Funds at
1-888-784-3863
or by visiting www.ridgeworth.com.
This bar chart shows the changes in performance of the
Funds I Shares from year to year.*
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Best Quarter
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Worst Quarter
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7.54%
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-3.98%
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(6/30/09)
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(3/31/09)
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The performance information shown above is based on a
calendar year. The Funds total return for the six months
ended June 30, 2011 was 3.02%.
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Summary
Prospectus |
2
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August 1, 2011
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The following table compares the Funds average annual
total returns for the periods indicated with those of a broad
measure of market performance.
AVERAGE ANNUAL
TOTAL RETURNS
(for periods ended
December 31, 2010)
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Since
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Inception
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of the
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Since
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1 Year
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5 Years
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A Shares*
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Inception**
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A Shares Returns Before Taxes
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7.88%
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5.93%
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5.69%
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N/A
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C Shares Returns Before Taxes
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7.29%
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5.22%
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N/A
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5.10%
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I Shares Returns Before Taxes
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8.35%
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6.27%
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N/A
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5.94%
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I Shares Returns After Taxes on Distributions
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6.23%
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4.07%
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N/A
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3.75%
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I Shares Returns After Taxes on Distributions and Sale of
Fund Shares
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5.93%
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4.09%
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N/A
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3.80%
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Barclays Capital U.S. Corporate Index (reflects no deduction for
fees, expenses or taxes)
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9.00%
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6.05%
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5.45%
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6.02%
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*
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Since inception of the A Shares on October 8, 2003.
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**
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Since inception of the C Shares and the I Shares on
November 30, 2001.
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After-tax returns are calculated using the historical highest
individual U.S. federal marginal income tax rates and do
not reflect the impact of state and local taxes. Your actual
after-tax returns will depend on your tax situation and may
differ from those shown. After-tax returns shown are not
relevant to investors who hold their Fund shares through tax
deferred arrangements, such as 401(k) plans or individual
retirement accounts (IRAs). After-tax returns are
shown for only the I Shares. After-tax returns for other share
classes will vary.
Investment
Adviser and Subadviser
RidgeWorth Investments is the Funds investment adviser
(the Adviser). Seix Investment Advisors LLC is the
Funds Subadviser.
Portfolio
Management
Mr. James F. Keegan, Chief Investment Officer and Chief
Executive Officer, has been a member of the Funds
management team since 2008. Mr. Adrien Webb, CFA, Managing
Director and Senior Portfolio Manager, has been a member of the
Funds management team since 2004. Mr. Perry Troisi,
Managing Director and Senior Portfolio Manager, has been a
member of the Funds management team since 2004.
Purchasing and
Selling Your Shares
You may purchase or redeem Fund shares on any business day. You
may purchase and redeem A and C Shares of the Fund through
financial institutions or intermediaries that are authorized to
place transactions in Fund shares for their customers. Please
contact your financial institution or intermediary directly and
follow its procedures for fund share transactions. The Fund
offers I Shares to financial institutions and intermediaries for
their own accounts or for the accounts of customers for whom
they may act as fiduciary agent, investment adviser, or
custodian. Please consult your financial institution or
intermediary to find out about how to purchase I Shares of the
Fund.
The minimum initial investment amounts for each share class are
shown below, although these minimums may be reduced or waived in
some cases.
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Class
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Dollar Amount
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A Shares
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$2,000
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C Shares
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$5,000 ($2,000 for IRAs or other tax qualified accounts)
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I Shares
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None
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Subsequent investments in A or C Shares must be made in amounts
of at least $1,000. The Fund may accept investments of smaller
amounts for either class of shares at its discretion. There are
no minimums for subsequent investments in I Shares.
Tax
Information
The Funds distributions are generally taxable and will be
taxed as ordinary income or capital gains unless you are
investing through a tax-deferred arrangement, such as a 401(k)
plan or an IRA.
Payments to
Broker-Dealers and Other Financial Intermediaries
If you purchase shares of the Fund through a financial
intermediary, such as a broker-dealer or investment adviser, the
Fund, the Adviser or the Distributor may pay the intermediary
for the sale of Fund shares and related services. These payments
may create a conflict of interest by influencing the
broker-dealer or other financial intermediary and your
salesperson to recommend the Fund over another investment. Ask
your financial intermediary or visit your financial
intermediarys website for more information.
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August 1,
2011
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3
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Summary Prospectus
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