Conference Call Replay

Second Quarter 2010 Conference Call Audio Recording

First Quarter 2010 Conference Call Audio Recording

Fourth Quarter 2009 Conference Call Audio Recording

Third Quarter 2009 Conference Call Audio Recording

 

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and the value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. View the most recent month- and quarter-end Performance.


The Jensen Portfolio Fund is nondiversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund.

The information provided represents the opinions of Jensen Investment Management, and is not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

There is no assurance that the investment process will lead to successful investing or that the stated objective(s) will be met.

View the Holdings in The Jensen Portfolio.


Fund holdings and sector allocation are subject to change at anytime, and should not be considered recommendations to buy or sell any security. Current and future portfolio holdings are subject to risk.


The Russell 1000 Growth Index measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values.

The S&P 500 Index is a market value weighted index consisting of 500 stocks chosen for market size, liquidity and industry group representation.

The Dow Jones Industrial Average: (DJIA) The average price of 30 selected industrial stocks, often used as a measure of general market trends.


These indexes are unmanaged, and you cannot invest directly in an index.

Mutual fund investing involves risk. Principal loss is possible. The Jensen Value Fund invests in mid and smaller capitalization companies, which involve additional risks such as limited liquidity and greater volatility. The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods.

Definitions:
Return on Equity (ROE): Is equal to a company's after-tax earnings (excluding non-recurring items) divided by its average stockholder equity for the year.
Basis Point: Is a value equaling one one-hundredth of a percent (1/100 of 1%).
Earnings Per Share: The net income of a company divided by the total number of shares it has outstanding.
Free Cash Flow: Is equal to the after-tax net income of a company plus depreciation and amortization less capital expenditures.
Discounted Free Cash Flow: Analysis uses future free cash flow projections and discounts them (most often using the weighted average cost of capital) to arrive at a present value, which is used to evaluate the potential for investment.
Return on Capital: Indicates the efficiency and profitability of a company's capital investments.
Debt to Capital: A measurement of a company's financial leverage, calculated as the company's debt divided by its total capital.
EBITDA: "Earnings Before Interest, Taxes,Depreciation, and Amortization"
Debt to EBITDA: Total debt less transition bonds and debt-related restricted cash divided by EBITDA. Debt/EBITDA is a measure used by management to assess credit quality.
EBITDA to Interest: EBITDA divided by cash interest expense is a measure used to assess credit quality.
Compound Annual Growth Rate: CAGR The year-over-year growth rate of an investment over a specified period of time. The compound annual growth rate is calculated by taking the nth root of the total percentage growth rate, where n is the number of years in the period being considered.

SEC Yield: is a standardized yield computed by dividing the net investment income per share earned during the 30-day period prior to quarter end.

Dividend Yield: represents the trailing 12-month dividend yield aggregating all income distributions per share over the past year, divided by the period ending fund share price. It does not reflect capital gains distributions.

Standard & Poor's Credit Ratings (Source: Standard & Poor's): Credit ratings are forward-looking opinions about credit risk. Standard & Poor’s credit ratings express the agency’s opinion about the ability and willingness of an issuer, such as a corporation or state or city government, to meet its financial obligations in full and on time. The highest rating assigned by Standard & Poor's is AAA and the lowest is D.

Moody's Credit Ratings (Source: Moody's):  The purpose of Moody's ratings is to provide investors with a simple system of gradation by which relative creditworthiness of securities may be noted. Gradations of creditworthiness are indicated by rating symbols, with each symbol representing a group in which the credit characteristics are broadly the same. The highest rating assigned by Moody's is AAA and the lowest is C.

 

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