About PIASX
PIA Short-Term Securities Fund Advisor Class is a mutual fund that seeks a high level of current income while maintaining low volatility of principal. It primarily invests in short-term investment grade debt securities, including those issued or guaranteed by the U.S. Government and its agencies, as well as corporate and securitized debt such as mortgage-backed securities, asset-backed securities, and commercial mortgage-backed securities. The fund's investment process combines quantitative yield curve analysis and neural network methodology with fundamental research, emphasizing sector selection, yield curve positioning, duration management, and security selection to target above-average risk-adjusted yields in undervalued sectors. This approach aims for principal preservation and liquidity, making it suitable as a low-volatility alternative to cash equivalents like money markets. Benchmarking against indices like the ICE BofA 1-Year Treasury Note Index or Bloomberg 1-3 Government Index, the fund opportunistically allocates to Treasuries, agencies, and other investment grade sectors when they offer attractive risk-adjusted opportunities. Managed by Pacific Income Advisers, it focuses on the short end of the bond market, typically 1-3 year maturities, within the ultrashort bond category.
Fund Family PIA Mutual Funds
Category Ultrashort Bond
Performance Rating Below Average
Risk Rating Above Average
Stock Exchange NASDAQ
Ticker Symbol PIASX
Share Class Advisor Class
Index ICE BofA 1 Year US Treasury Note TR
PIASX had a total return of 3.95% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.17%.
