Flexible Income Fund
Overall Morningstar™ rating out of 741
Moderate Allocation funds as of 2-28-2014 (derived from a weighted average of the fund's three-, five-, and ten-year risk adjusted return measure, if applicable).
Superior 10-year Performance as of 11/30/2011 among 181 Mixed-Asset Target Allocation Moderate Funds for consistent, risk-adjusted returns.
- 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 4 stars among 741 for the three-year, 4 stars among 670 for the five-year, and 5 stars among 430 Moderate Allocation funds for the ten-year period ending 2/28/2014.
© 2014 Morningstar, Inc. All Rights Reserved. The information contained herein (1) is proprietary to Morningstar (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Lipper Leader scores are subject to change every month and are calculated for the following time periods: 3-year, 5-year, 10-year and overall. The overall calculation is based on an equal-weighted average of percentile rank for each category metric over three-, five-, and ten-year periods (if applicable). The top 20% of funds in each classification are rated 5 and are named Lipper Leaders, the next 20% are rated 4, the middle 20% are rated 3, the next 20% are rated 2, and the lowest 20% are rated 1. For the three-year period the Buffalo Flexible Income Fund received a Lipper Leader rating of 5 among 433 funds. For the five-year period the Buffalo Flexible Income Fund received a Lipper Leader rating of 5 among 398 funds. For the ten-year period the Buffalo Flexible Income Fund received a Lipper Leader rating of 5 among 183 funds. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. Each Lipper peer group represents a universe of Funds with similar investment objectives.
A Lipper Fund Award is awarded to one fund in each Lipper classification for achieving the strongest trend of consistent risk-adjusted performance against its classification peers over a three, five or ten-year period.
Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Users acknowledge that they have not relied upon any warranty, condition, guarantee, or representation made by Lipper. Any use of the data for analyzing, managing, or trading financial instruments is at the user's own risk. This is not an offer to buy or sell securities. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service.
The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. The Thomson Reuters Awards for Excellence recognize the world's top funds, fund management firms, sell-side firms, research analysts and investor relations teams. The Thomson Reuters Awards for Excellence also include the Extel Survey Awards, the StarMine Analyst Awards, and the StarMine Broker Rankings. For more information, please contact firstname.lastname@example.org or visit excellence.thomsonreuters.com.