Mutual Funds

Returns quoted represent past performance which is no guarantee of future performance.  Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Income is generally exempt from regular federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax. Due to market conditions, current performance may be higher or lower than the data shown. Returns without sales charge do not reflect the imposition of the maximum sales charge, which would reduce returns. Total returns for a period of less than one year are cumulative.

Returns reflect differences in sales charges and expenses among the share classes. Class A shares have a 4.2% maximum sales charge. Class B shares have a contingent deferred sales charge (CDSC), also known as a back-end sales charge, that for redemptions begins at 5% and declines periodically until after 6 years when the charge becomes 0%. Class B shares automatically convert to Class A shares eight years after purchase. Class C shares have a 1% CDSC for redemptions within less than one year, which is not reflected in the one-year total return. Class I shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.

Expense ratios are based on the Fund's most recent fiscal year end. The net expense ratio excludes credits earned on the Fund's cash on deposit with the custodian bank but includes interest expense on borrowings and interest on self-deposited inverse floaters held by the Fund, if any. The net expense ratio reflects a contractual commitment by the Fund’s investment adviser to waive fees and reimburse expenses through July 31, 2013. Absent the waiver and reimbursement, expenses would be higher and total returns would be less.

Load-waived (LW) Class A share star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms (e.g., plan participants of a defined contribution plan). Not all A share mutual funds for which Morningstar calculates a load-waived A share star rating may actually waive their front-end sales load. Absent the waiver, ratings may be lower. All of the funds above offer A shares at maximum sales charge which varies by fund; and I shares which have no sales charge. Ratings are for the share class cited only; other share classes have different performance and different Morningstar Ratings^TM.