Wilmington Trust's mutual fund family, the Wilmington Funds, has
been recognized by Lipper Inc., a leading mutual fund research and
analysis firm, for top five-year cumulative total return
performance in two fund categories.
Wilmington Short/Intermediate-Term Bond Fund and Wilmington
Multi-Manager Real Asset Fund (Institutional Shares) were singled
out by Lipper as the number one funds in their respective
categories � Short-Intermediate Investment Grade Debt Funds and
Mixed-Asset Target Allocation Conservative Funds � for the
five-year period ended December 31, 2008.
�We are honored to receive this distinction from Lipper and
congratulate our portfolio management and research teams on this
impressive achievement,� said Robert M. Balentine, chairman and CEO
of Wilmington Trust Investment Management (WTIM). �It is WTIM's
commitment to excellence in providing consistent, long-term
investment performance that helps to protect our clients across
market cycles.�
Lipper, a Reuters company, awards performance achievement
certificates to funds with returns that top their Lipper categories
over a one-, five-, 10-, or 15-year time period. Certificates are
awarded for all Lipper classifications, with one overall winner
selected from each category in Lipper's mutual fund universe.
Open-end funds, closed-end funds, and variable insurance products
are considered for awards.
The Wilmington Funds recently received additional recognition
for outstanding performance, ranking number 1 out of 59 fund
families in the Taxable Bond Funds category for 2008 in the annual
Lipper/Barron's Fund Survey.* The funds included in this category
were Wilmington Short/Intermediate-Term Bond Fund and Wilmington
Broad Market Bond Fund. These two funds were also named �Category
Kings� by The Wall Street Journal in the Intermediate-Term Bond
Fund and the Short-Term Bond Fund categories for performance in
2008.** As of December 31, 2008, the Wilmington
Short/Intermediate-Term Bond Fund was ranked number 5 among 147
funds for the one-year period, number 1 out of 126 funds for the
five-year period, and number 2 out of 71 funds for the 10-year
period in the Lipper Short/Intermediate Investment Grade Debt Funds
category. Also as of December 31, 2008, the Wilmington Broad Market
Bond Fund was ranked number 14 among 571 funds for the one-year
period, number 18 out of 394 funds for the five-year period, and
number 17 out of 199 funds for the 10-year period in the Lipper
Intermediate Investment Grade Debt Funds category.
Wilmington Trust Corporation (NYSE:WL) is a financial services
holding company that provides Regional Banking services throughout
the mid-Atlantic region, Wealth Advisory Services for
high-net-worth clients in 36 countries, and Corporate Client
Services for institutional clients in 88 countries. Its wholly
owned bank subsidiary, Wilmington Trust Company, which was founded
in 1903, is one of the largest personal trust providers in the
United States and the leading retail and commercial bank in
Delaware. Wilmington Trust Corporation and its affiliates have
offices in Arizona, California, Connecticut, Delaware, Florida,
Georgia, Maryland, Massachusetts, Minnesota, Nevada, New Jersey,
New York, Pennsylvania, South Carolina, Vermont, the Cayman
Islands, the Channel Islands, London, Dublin, Frankfurt,
Luxembourg, and Amsterdam.
Brokerage services, mutual funds, and other securities are
offered by Wilmington Brokerage Services Company (WBSC), a
registered broker/dealer and wholly owned subsidiary of Wilmington
Trust Company and a member of the Financial Industry Regulatory
Authority (FINRA) and the Securities Investor Protection
Corporation (SIPC). Wilmington Funds are entities separate and
apart from Wilmington Trust and WBSC.
The Wilmington Funds are distributed by Professional Funds
Distributor, LLC. You should carefully consider the investment
objectives, risks, charges, and expenses of the Wilmington Funds
before investing. A prospectus with this and other information may
be obtained by calling 800-336-9970 or by visiting
www.wilmingtonfunds.com. The prospectus should be read carefully
before investing.
Rodney Square Management Corp., a Wilmington Trust affiliate, is
the funds' investment adviser. The funds are not deposits of, or
other obligations of, or guaranteed by Wilmington Trust or any
other bank or entity. They are not insured by the FDIC or any other
governmental agency.
This information is not intended as a recommendation or
determination by WBSC that any fund is suitable for a specific
investor. Investment products are not deposits of or other
obligations of or guaranteed by Wilmington Trust or any other bank
or entity, and are subject to investment risks, including the
possible loss of principal amount invested. Past performance is no
guarantee of future results; rankings are for the Institutional
share class and are subject to change.
An investment in a bond fund is subject to interest rate risk,
which is the possibility that a fund's yield will decline due to
falling interest rates and the potential for bond prices to fall as
interest rates rise. High-yielding, non-investment-grade bonds
present a greater risk of loss to principal and interest than
investment-grade securities. The value of debt securities may be
affected by the ability of issuers to make principal and interest
payments.
For Wilmington Short/Intermediate-Term Bond Fund: five-year
cumulative return as of December 31, 2008 was 23.97% and five-year
average annual return as of December 31, 2008 was 4.39%. One-year
total return as of March 31, 2009 was 4.80%, five-year average
annual return as of March 31, 2009 was 4.00%, and 10-year annual
average return as of March 31, 2009 was 5.36%. For Lipper
Short/Intermediate Investment Grade Debt Funds benchmark: five-year
cumulative return as of December 31, 2008 was 9.56% and five-year
average annual return as of December 31, 2008 was 1.80%. The
gross expense ratio for Wilmington Short/Intermediate-Term Bond
Fund was 0.59%.
For Wilmington Multi-Manager Real Asset Fund: five-year
cumulative return as of December 31, 2008 was 48.64% and five-year
average annual return as of December 31, 2008 was 8.25%. One-year
total return as of March 31, 2009 was -28.42%, five-year average
annual return as of March 31, 2009 was 4.66%, and since inception
return was 8.06%. Prior to June 1, 2006, the fund invested
primarily in real estate-related securities. For Lipper Mixed Asset
Target Allocation Conservative Funds benchmark: five-year
cumulative return as of December 31, 2008 was 3.11% and five-year
average annual return as of December 31, 2008 was 0.55%. The
gross expense ratio for Wilmington Multi-Manager Real Asset Fund
was 0.75%.
Performance quoted represents past performance and does not
guarantee future results. Investment return and principal value
will fluctuate. Shares, when redeemed, may be worth more or less
than their original cost. Current performance may be lower or
higher than that shown here. Performance data current to the most
recent month-end is available by calling 800-336-9970.
* To qualify for the Lipper/Barron's Fund Survey, a group must
have at least three funds in Lipper's general U.S.-stock category,
as well as one in world equity, which combines global and
international funds. Lipper also requires at least one mixed-equity
fund, which holds stocks and bonds. Fund shops also must have at
least two taxable-bond funds and one tax exempt offering. Each
fund's returns are adjusted for 12b-1 fees, which are used for
marketing and distribution expenses. The funds usually add these
fees back into returns. The aim is to measure the manager's skill.
Fund loads, or sales charges, aren't included in the calculation of
returns, either. Each fund's return is measured against those of
all funds in its Lipper category, such as, say, small-cap value.
That leads to a percentile ranking, with 100 the highest and 1 the
lowest, which is then weighted by asset size, relative to the fund
family's other assets in its general classification�world equity,
for instance. If a family's biggest funds do well, that boosts its
overall ranking. Poor performance in a big fund obviously has a big
effect on the ranking. Finally, the score is multiplied by the
weighting of its general classification, as determined by the
entire Lipper universe of funds. The category weightings for the
one-year results: general equity, 48.6%; world equity, 18.0%; mixed
equity, 15.5%; taxable bond, 15.0%; tax-exempt bond, 3.0%. The
scoring: Say a company has a fund in the general U.S. equity
category, that the fund has $50 million in assets and that it
accounts for half of the company's assets in that category. Its
ranking is the 75th percentile. The first calculation would be 75 x
0.50, which comes to 37.5. That score is then multiplied by 48.7%,
general equity's overall weighting in Lipper's universe. So it
would be 37.5 x 0.487, which totals 18.3. Similar calculations are
done for each fund in the study. Then, all the numbers are added up
for a total score. The fund shop with the highest score wins, both
for every category and overall. The same process is repeated for
the five- and 10-year rankings.
The Wilmington Taxable Bond Funds are Wilmington
Short/Intermediate-Term Bond Fund and Wilmington Broad Market Bond
Fund, which are portfolios of the WT Mutual Fund. The Wilmington
Taxable Bond Funds were ranked number 1 out of the taxable bond
funds of 59 fund families for 2008. The individual bond funds were
not ranked. The Taxable Bond Funds were not ranked for other than
the one-year period.
** The Wall Street Journal rates �Category Kings� as
top-performing funds in each category ranked by one-year total
returns (changes in net asset values with reinvested
distributions). Rankings are based on Lipper data.
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