Flexible Income Fund
Overall Morningstar™ rating out of 786
Moderate Allocation funds as of 2-28-2015 (derived from a weighted average of the fund's three-, five-, and ten-year risk adjusted return measure, if applicable).
- Income and growth strategy
- Seeking primarily income oriented equities
- Bonds are primarily high yield corporates and convertibles
This Fund invests primarily for income, but it also maintains a growth component in an attempt to offset inflation. Managers seek growth by investing in high-yield corporate bonds, dividend-paying stocks, and other investment asset classes. To reinforce the income objective, the Fund makes distributions on a monthly basis.
Paul Dlugosch, CFA
President, KCM and Portfolio Manager
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ (based on a Morningstar Risk Adjusted Return measure that accounts for variation in a fund’s monthly performance, including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Buffalo Flexible Income Fund received 3 stars among 786 for the three-year, 4 stars among 698 for the five-year, and 4 stars among 444 Moderate Allocation funds for the ten-year period ending 2/28/2015.
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