Fund Research for Dunham Appreciation & Income N (DNAIX)

  • Fund Overview

    Fund Inception Date: Dec 10, 2004
    Category: Convertibles
    Overall Risk: Average
    Fund Family: Dunham Funds
    Return Since Inception: 3.04%
    YTD Return: 35.36%
    Yield (TTM): 1.07%
    Net Assets: 20.57 M
    Morningstar Rating:
    4 of 5
    Morningstar Rating as of 10/31/2009
    YTD Returns as of 11/27/2009
    The investment seeks total return under varying market conditions through both current income and capital appreciation. The fund primarily invests in a diversified portfolio of convertible, equity and fixed-income securities. It attempts to utilize these different types of securities to strike the appropriate balance between risk and reward in terms of growth and income.

    Stock Holdings


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    Size
    Average Market Cap $30,859.30 M
    Market Capitalization Portfolio
    Giant 36.97%
    Large 50.46%
    Medium 12.57%
    Small 0.00%
    Micro 0.00%

    Bond Holdings


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    Details
    Average Eff Duration —
    Average Eff Maturity —
    Average Credit Quality —
    View Fund Portfolio
    Style Box Detail calculations do not include the fund's short positions (if any) Style Box Detail calculations do not include the fund's short positions (if any)

  • Fund Performance

    10 year Growth Chart
    Growth of $10,000 from 12/31/2004 to 10/31/2009
    Mouseover the chart to see values for each month.

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    Total Annualized Returns

    YTD 1 year 3 year 5 year 10 year Since Inception
    Fund 35.36% 45.63% 2.05% — — 3.04%
    +/- Category -2.36% 0.21% 2.40% — — —
    +/- Morningstar Moderate Target Risk — — — — 4.76% —

    Standardized Annual Returns

    YTD 1 year 3 year 5 year 10 year Since Inception
    Month (as of 10/31/2009) 30.50% 32.37% 0.78% — — 3.04%
    Quarter (as of 09/30/2009) 30.33% 9.44% 1.58% — — 3.06%
    Fund and Category YTD, 1yr, 3yr and 5yr Returns as of 11/27/2009
    Index YTD,1yr, 3ys and 5yr Returns as of 11/27/2009 10 yr and Since Inception Returns as of 10/31/2009
    Inception Date: 12/10/2004
    Ratings are based on risk-adjusted performance.
    View Total Returns

  • Fund Portfolio Profile

    Sector Breakdown

    Stocks
    Information 8.56%
    Service 13.16%
    Manufacturing 24.35%
    Bond Quality
    AAA —
    AA —
    A —
    BBB —
    BB —
    B —
    Below B —
    Not Rated —

    Asset Allocation

    Short Long Net Assets
    Cash — 3.32% 3.32%
    Stocks — 46.07% 46.07%
    Bonds — 3.65% 3.65%
    Other — 46.96% 46.96%
    Foreign Stocks
    (as a % of assets)    		 — 9.08% 9.08%
    Data as of 09/30/2009 Data as of 09/30/2009 View Fund Portfolio

    Top 10 Holdings

    Stock Holdings Sector P/E Return as of 10/31/2009 Net Assets
    = ORACLE CORP (ORCL) Software 20.08 18.67% 2.38%
    = APACHE CORP (APA) Energy — 31.93% 2.07%
    Bond & Other Holdings Maturity Date Total Holdings Value of Holdings Net Assets
    = Emc 144A 1.75% 12/01/2013 780,000.00 930,414.00 3.43%
    = Symantec Cv 1% 06/15/2013 801,000.00 814,016.00 3.00%
    = Archer Daniels Midland Pfd 06/01/2011 18,000.00 698,580.00 2.58%
    = Freeport-Mcmoran Copper & Gold Cv — 6,575.00 627,912.00 2.32%
    = Netapp 1.75% 06/01/2013 610,000.00 606,188.00 2.24%
    = Teva Pharma Fin Cv 1.75% 02/01/2026 490,000.00 577,588.00 2.13%
    = Nuance Comms Cv 2.75% 08/15/2027 610,000.00 557,388.00 2.06%
    = Kinetic Concepts 144A Cv 3.25% 04/15/2015 620,000.00 545,600.00 2.01%
    + Increase - Decrease = No change * New since last portfolio
    Top 10 holdings account for the fund's short positions (if any). Net short positions appear shaded.
    P/E as of 11/27/2009
    All other data as of 08/31/2009
    View Fund Portfolio

  • Sales Information

    Sales Charge %

    Initial —
    Deferred —
    Taken from prospectus dated 09/01/2009
    Expense Ratio (based on net assets) 1.90%
    Taken from annual report dated 10/31/2008

  • Fund Management

    John P. Calamos, Sr.
    Start Date: 12/10/2004
    John P. Calamos is the founder of CALAMOS ASSET MANAGEMENT, INC., the 16th largest money manager in Chicagoland. The firm offers institutional and individual investors a breadth of strategies through both individually managed portfolios and mutual funds. Mr. Calamos’ investment career spans 30 years. Known as a pioneer in risk management, he is the author of two books.
    Nick P. Calamos
    Start Date: 05/26/2009
    As Head of Investments, Calamos oversees research and portfolio management for Calamos Investments family of mutual funds, closed-end funds and separately managed accounts. Leading the development of the firm’s proprietary research tools and investment processes for a team of more than 50 professionals, serves as a portfolio manager of various strategies utilizing equities, high yield bonds, convertible securities and alternative investments.
    John P. Calamos, Jr.
    Start Date: 03/01/2009
    Calamos, Jr. is a portfolio manager and executive vice president of Calamos Advisors. He has been with the advisor and its predecessor company since 1987.
    Steve E. Klouda
    Start Date: 12/10/2004
    Klouda is a senior member of the investment team with portfolio management and research responsibilities. He is directly involved in the fundamental analysis of companies, while investigating investment opportunities consistent with the firm’s long-term philosophy and process. In line with Calamos’ integrated investment team structure, he works within a senior team of professionals and is an asset class generalist with sector responsibilities across all of Calamos’ strategies.
    Jeff Scudieri
    Start Date: 03/01/2009
    Scudieri is a senior member of the investment team with portfolio management and research responsibilities. He is directly involved in the fundamental analysis of companies, while investigating investment opportunities consistent with the firm's long-term philosophy and process.
    Jon Vacko
    Start Date: 03/01/2009
    Vacko is a senior member of the investment team with portfolio management and research responsibilities. He is directly involved in the fundamental analysis of companies, while investigating investment opportunities consistent with the firm’s long-term philosophy and process. In line with Calamos’integrated investment team structure, he works within a senior team of professionals and is an asset class generalist with sector responsibilities across all of Calamos’strategies.
    John Hillenbrand
    Start Date: 03/01/2009
    Hillenbrand is a senior member of the investment team with portfolio management and research responsibilities. He is directly involved in the fundamental analysis of companies, while investigating investment opportunities consistent with the firm's long-term philosophy and process. In line with Calamos' integrated investment team structure, he works within a senior team of professionals and is an asset class generalist with sector responsibilities across all of Calamos’ strategies.