About PIASX
PIA Short-Term Securities Fund Advisor Class is an open-end mutual fund focused on generating a high level of current income with low volatility of principal. The strategy centers on **short-duration, investment-grade** debt, primarily allocating to securities issued or guaranteed by the U.S. government and its agencies, alongside high-quality corporate and securitized bonds. The portfolio targets an effective duration of **less than three years**, aiming to limit interest rate sensitivity while delivering steady income. The fund employs a research-driven process that blends quantitative yield curve analysis with fundamental credit work to emphasize sector selection, duration management, and security selection. It may also use limited derivatives, such as futures and options, for portfolio positioning and risk management. Within the market, the fund occupies the **ultrashort bond** category, providing a cash-plus solution for investors seeking incremental yield over money market instruments with modest price fluctuation. Established in 1994, it maintains a cost-conscious profile with a competitive expense structure and distributes income on a regular basis, reinforcing its role as a conservative core short-term fixed income holding.
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 5.24% in the past year, including dividends. Since the fund's
inception, the average annual return has been 5.31%.
