William Blair Income Fund

Data updated: 2022-05-24

C000023533 — William Blair Income Fund. Bond · $22.61M AUM · 0.85% expense ratio · -2.1% 1-yr return. Holdings, fees, performance and SEC filings.

C000023533 Fund Overview

William Blair Income Fund is a US mutual fund managed by William Blair Funds, categorised as Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: William Blair Funds
Category: Bond
Assets under management: $22.61M
1-year return: -2.1%
SEC CIK: 0000822632
SEC series ID: S000008598
Share class ID: C000023533

C000023533 Investment Objective and Strategy

William Blair Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by William Blair Funds.

Investment objective

The William Blair Income Fund seeks a high level of current income with relative stability of principal.

Principal investment strategy

As a matter of fundamental policy, under normal market conditions, the Fund invests at least 90% of its total assets in the following: (a) U.S. dollar-denominated corporate debt securities (domestic or foreign) with long-term ratings of A or better, or an equivalent rating, by at least one of the following three nationally recognized statistical rating organizations: Fitch Ratings, Moodys Investors Service, Inc. and Standard & Poors, a division of The McGraw-Hill Companies, Inc. (Rating Organizations); (b) obligations of or guaranteed by the U.S. Government, its agencies or instrumentalities; (c) collateralized obligations, which are debt securities issued by a corporation, trust or custodian, or by a U.S. Government agency or instrumentality, that are collateralized (i.e., secured as to payment of interest and/or principal) by a portfolio or pool of assets, such as mortgages, mortgage-backed securities, debit balances on credit card accounts or U.S.

Government securities (the Fund may invest in collateralized obligations that are not guaranteed by a U.S. Government agency or instrumentality only if the collateralized obligations are rated A or better, or an equivalent rating, by one of the Rating Organizations); and (d) commercial paper obligations rated within the highest grade by one of the Rating Organizations. The Fund may also invest in Rule 144A securities. The Adviser seeks to outperform the Bloomberg Barclays Intermediate Government/Credit Bond Index through an actively managed diversified portfolio of debt securities. The Advisers investment philosophy emphasizes shifts in the Funds portfolio among various sectors of the debt market, subject to the Funds credit quality constraints for its portfolio. The Adviser also actively manages the Fund based upon the average duration and yield to maturity of the Funds portfolio and the Advisers perceived trends in interest rates.

The anticipated dollar-weighted average maturity of the Fund is three to seven years. The anticipated weighted average modified duration for the Fund is two to five years, with a maximum duration on any instrument of nine years. The Fund will not continue to hold a security whose duration has moved above nine years. The duration of an instrument is different from the maturity of an instrument in that duration measures the average period remaining until the discounted value of the amounts due (principal and interest) under the instrument are to be paid, rather than the instruments stated final maturity. In addition, a portfolio duration of five years means that if interest rates increased by one percent, the value of the portfolio would decrease by approximately five percent. Modified duration adjusts duration to take into account the yield to maturity and the number of coupons received each year.

For purposes of calculating duration, instruments allowing prepayment will be assigned a prepayment schedule by the Adviser based upon industry experience. Up to 10% of the Funds total assets may be invested in debt securities that at the time of purchase are rated lower than A but at least BBB (or its equivalent) by at least one of the Rating Organizations by which such securities are rated, so long as the Fund does not invest more than 3% of its total net assets in securities of any single issuer whose securities are rated BBB . Securities that are downgraded below BBB (or its equivalent) after purchase may continue to be held in the Fund.

C000023533 Performance

Total returns for C000023533 (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	-2.1%
3 years (annualised)	0.9%

C000023533 Risk Information

Risk metrics for C000023533, derived from monthly returns in SEC filings.

1-year volatility (annualised): 1.1%

C000023533 Costs and Fees

C000023533 costs about $85 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.85%
Gross expense ratio: 1.03%
Portfolio turnover: 57%
Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000023533 Cashflows

Over the 12 months to 2022-03, William Blair Income Fund had net outflows of $40.68M, from monthly SEC N-PORT filings.

Month	Net flow
2022-03	−$8.05M
2022-02	−$6.14M
2022-01	−$1.43M
2021-12	−$1.14M
2021-11	−$6.19M
2021-10	−$1.22M

C000023533 Debt Constituents

No individual debt constituents are reported in William Blair Income Fund's latest SEC N-PORT filing.

C000023533 Prospectus and SEC Filings

Official William Blair Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Bond funds tracked on ABC INVEST:

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.