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Constellation


The Constellation Funds give all the information to the investor. The investor should consider the investment objectives, risks, charges and operating expenses carefully before investing. This information can be found in the prospectus. A free prospectus is provided which contains detailed information, including fees and expenses, and the risks associated with investing in this fund. 
 
Constellation Funds is taking advantage of the House holding Rule, which permits the delivery of one copy of an annual/semi-annual report, prospectus and/or proxy statement on behalf of two or more shareholders at a shared address.
 
The investment seeks total return consistent with preservation of capital. The fund normally invests at least 80 percent of assets in U.S. government obligations. It may invest the balance of assets in cash and high-quality debt securities, including municipal obligations and privately-issued mortgage-related securities. The fund attempts to maintain an average effective duration comparable to or less than that of three-year U.S. Treasury notes.
 
Another service is Constellation Clover Core Fixed Income. The investment seeks income consistent with reasonable risk to capital. The fund normally invests at least 80 percent of assets in various debt securities, including U.S. government debt; investment-grade corporate bonds and debentures; and mortgage-backed securities, including collateralized mortgage obligations and real-estate mortgage investment conduits. The fund may invest up to 10 percent of assets in convertibles. The average weighted maturity typically ranges from 5 to 10 years.
 
In the transaction, nine individual Pitcairn Funds, with a collective asset value of over $800 million, were reorganized tax-free into new Constellation Funds series. New funds and investment management firms added to the Constellation Funds line-up as a result of the transaction include: Small Cap, Family Heritage, Diversified Value, Select Value, Diversified Growth, Taxable Bond and Tax-Exempt Bond as well as Select Growth and International Equity.

It is the successful long term mutual funds performance and consistency that you should pay close attention to. You should also watch the annual fees or charges for the mutual funds investment. In general, you don't want to choose a high-expense fund if there is an equally attractive fund with lower expenses.
 
 
 

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