Catholic Rspnsbl Invst Ult Sht Bd Ins (null) fond

Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade U.S. dollar-denominated debt instruments. The adviser relies upon an investment sub-adviser to manage the fund’s portfolio under the general supervision of the adviser. The fund’s sub-adviser seeks attractively-valued securities that offer competitive yields and that are issued by issuers that are on a sound financial footing.