This materials should be preceded or accompanied by a prospectus or summary prospectus.
Knowledge is for the quarter ending 12/31/2023. The opinions expressed are these of Weitz Funding Administration and will not be meant as funding recommendation or to foretell or mission the long run efficiency of any funding product. The opinions are present by way of 01/20/2024, are topic to alter at any time primarily based on market and different present situations, and no forecasts might be assured. This commentary is being supplied as a basic supply of knowledge and isn’t supposed as a suggestion to buy, promote, or maintain any particular safety or to interact in any funding technique. Funding choices ought to at all times be made primarily based on an investor’s particular aims, monetary wants, danger tolerance and time horizon.
Knowledge quoted is previous efficiency and present efficiency could also be decrease or increased. Previous efficiency is not any assure of future outcomes. Funding return and principal worth of an funding will fluctuate, and shares, when redeemed, could also be price kind of than their authentic price. Please go to weitzinvestments.com for the newest month-end efficiency.
Funding outcomes mirror relevant charges and bills and assume all distributions are reinvested however don’t mirror the deduction of taxes an investor would pay on distributions or share redemptions. Internet and Gross Expense Ratios are as of the Fund’s most up-to-date prospectus. Sure Funds have entered into charge waiver and/or expense reimbursement preparations with the Funding Advisor. In these instances, the Advisor has contractually agreed to waive a portion of the Advisor’s charge and reimburse sure bills (excluding
taxes, curiosity, brokerage prices, acquired fund charges and bills and extraordinary bills) to restrict the full annual fund working bills of the Class’s common day by day internet belongings by way of 07/31/2024.
The Gross Expense Ratio displays the full annual working bills of the fund earlier than any charge waivers or reimbursements. The Internet Expense Ratio displays the full annual working bills of the Fund after taking into consideration any such charge waiver and/or expense reimbursement. The online expense ratio represents what traders are in the end charged to be invested in a mutual fund.
On 12/29/2006, the Nebraska Tax-Free Earnings Fund succeeded to considerably all the belongings of Weitz Earnings Companions Restricted Partnership. The funding aims, insurance policies and restrictions of the Fund is materially equal to these of the Partnership, and the Partnership was managed always with full funding authority by the Funding Adviser. The efficiency info consists of efficiency for the Partnership. The Partnership was not registered below the Funding Firm Act of 1940 and, due to this fact, weren’t topic
to sure funding or different restrictions or necessities imposed by the 1940 Act or the Inside Income Code. If the Partnership had been registered below the 1940 Act, the Partnership’s efficiency might need been adversely affected.
Index efficiency is hypothetical and is proven for illustrative functions solely. You can’t make investments immediately in an index. The Bloomberg 5-12 months Municipal Bond index is a capitalization weighted bond index usually consultant of main municipal bonds of all high quality scores with a median maturity of roughly 5 years.
Holdings are topic to alter and might not be consultant of the Fund’s present or future investments.
Earnings from municipal securities is usually free from federal taxes and state taxes for residents of the issuing state. Whereas the curiosity earnings is tax-free, capital positive aspects, if any, will likely be topic to taxes. Earnings for some traders could also be topic to the federal Various Minimal Tax (‘AMT’).
Credit score scores are assigned to underlying securities using scores from a Nationally Acknowledged Statistical Ranking Group (NRSRO) similar to Moody’s and Fitch, or different score companies and making use of the next hierarchy: safety is decided to be Funding Grade if it has been rated no less than BBB- by one credit standing company; as soon as decided to be Funding Grade (BBB- and above) or Non-Funding Grade (BB+ and beneath) the place a number of scores can be found, the bottom score is assigned. Mortgage-related securities issued and assured by government-sponsored companies similar to Fannie Mae and Freddie Mac are usually not rated by score companies. Securities that aren’t rated don’t essentially point out low high quality. Scores are proven within the Fitch scale (e.g., AAA). Scores and portfolio credit score high quality might change over time. The Fund itself has not been rated by a credit standing company.
Definitions: 30-Day SEC Yield represents internet funding earnings earned by a fund over a 30-day interval, expressed as an annual proportion price primarily based on the Fund’s share value on the finish of the 30-day interval. Common efficient length supplies a measure of a fund’s interest-rate sensitivity. The longer a fund’s length, the extra delicate the fund is to shifts in rates of interest. Common efficient maturity is the weighted common of the maturities of a fund’s underlying bonds. Distribution yield is a measure of yield calculated by taking a fund’s most up-to-date earnings distribution fee divided by its internet asset worth (‘NAV’) and expressed as an annual price. Sponsored yield displays charge waivers and/or expense reimbursements through the interval. With out such charge waivers and/or expense reimbursements, if any; yields would have been decrease. Unsubsidized yield doesn’t modify for any charge waivers and/or expense reimbursement in impact.
Think about these dangers earlier than investing: All investments contain dangers, together with attainable lack of principal. These dangers embrace market dangers, similar to political, regulatory, financial, social and well being dangers (together with the dangers offered by the unfold of infectious illnesses). As well as, as a result of the Fund might have a extra concentrated portfolio than sure different mutual funds, the efficiency of every holding within the Fund has a higher impression upon the general portfolio, which will increase danger. See the Fund’s prospectus for an extra dialogue of dangers associated to the Fund.
Buyers ought to contemplate fastidiously the funding aims, dangers, and prices and bills of a fund earlier than investing. This and different vital info is contained within the prospectus and abstract prospectus, which can be obtained at weitzinvestments.com or from a monetary advisor. Please learn the prospectus fastidiously earlier than investing.
Weitz Securities, Inc. is the distributor of the Weitz Funds.
