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Versatile Bond Portfolio

  • OVERVIEW

    Objective
    Versatile Bond Portfolio seeks to earn high current income.

    Strategy
    In pursuit of its investment objective, under normal market conditions the Portfolio invests at least 80% of its assets in bonds, which may include debt securities of all types and of any maturity. This provides the Portfolio with flexibility to invest in a wide range of bonds, take advantage of opportunities in the bond market, and thus may provide attractive returns to shareholders over the long term.

    Reasons to Consider

    • 1

      No Fixed Duration - Versatile Bond Portfolio may invest in bonds with a range of maturities from short- to long-term and does not attempt to maintain any pre-set average portfolio maturity or duration, but rather seeks to manage the Portfolio’s duration based on the Adviser’s forecast of interest rates and assessment of general market risks.

    • 2

      Flexible Management - The Portfolio may invest in obligations of U.S. and non-U.S. issuers, including corporate bonds, convertible securities, preferred stock, commercial paper, securities issued or guaranteed by the U.S. government, its agencies or government-sponsored enterprises, similar obligations of non-U.S. government or supranational entities, bank obligations such as certificates of deposit, time deposits, bank notes and repurchase agreements. Such investments may be in “investment grade” or “below investment grade” bonds (“high yield” or “junk” bonds) and may be denominated in U.S. dollars or foreign currencies. Up to 50% of the Portfolio may be invested in bonds rated below investment grade at the time of investment.

  • PERFORMANCE

    Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Investment performance, current to the most recent month-end, may be lower or higher than the performance quoted. It can be obtained by calling (800) 531-5142. Performance data shown with load reflects the Class A shares maximum sales charge of 4.00% and the Class C shares maximum deferred sales charge of 1.00%. Performance data shown as no load does not reflect the current maximum sales charges. Had the sales charge been included, the Portfolio’s returns would be lower. All results are historical and assume the reinvestment of dividends and capital gains.

    Historical Performance:  Annual Returns Since Inception

    Average Annual Total Returns (as of March 31, 2018)

      YTD 1 Year 5 Years 10 Years 15 Years Inception
    Class A (Load) -4.08% -3.74% - - - 1.49%
    Class A (No Load) -.09% .27% - - - 3.77%
    Class C (Load) -1.28% -1.43% - - - 3.00%
    Class C (No Load) -.28% -.46% - - - 3.00%
    Class I -.03% .52% 2.59% 2.53% 2.46% 3.40%
    Bloomberg Barclays Capital Global Aggregate (Excluding Securitized) Bond Index 1.72% 7.70% 1.46% 2.47% 4.16% 5.49%
    FTSE AAA/AA 1-3 Years Corporate Bond Index -.21% .46% .85% 1.72% 2.40% 4.37%
    FTSE A 1-3 Years Corporate Bond Index -.41% .62% 1.20% 2.48% 2.85% 4.67%

    Expense Ratios Class A Class C Class I
    Gross Expense Ratio 1.47% 2.22% 1.22%
    Net Expense Ratio 1.09% 1.84% .84%

    For the year ended January 31, 2018 as stated in the Fund’s Prospectus, dated May 31, 2018. The Net Expense Ratio reflects a contractual waiver of investment advisory fees in effect for the year then ended. The Portfolio's investment adviser has agreed to continue the waiver at least through June 1, 2019.

  • DIVIDENDS & DISTRIBUTIONS

    Record Date:  Tuesday, December 5, 2017
    Reinvestment Date:  Wednesday, December 6, 2017

      Class A Class C Class I
    Ordinary Income Dividends $1.72952 $1.35409 $1.88511
    Capital Gain Distributions (long-term) $0.00 $0.00 $0.00
    Capital Gain Distributions (short-term) $0.00 $0.00 $0.00
    Qualified Dividends (included in Ordinary Income Dividends) $0.52212 $0.40878 $0.56909
    Reinvestment Price $57.07 $57.05 $57.07
    Dividends Earned on U.S. Treasury Securities 0.00% 0.00% 0.00%

    > Historical Dividends and Distributions
    > Mutual Fund Tax Guide
    > 2017 Supplemental Tax Information

  • FEES & EXPENSES

    The table below describes the fees and expenses you would pay if you buy and hold shares of Versatile Bond Portfolio.

    Shareholder Fees
    (fees paid directly from your investment)
    Class A Class C Class I
    Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 4.00% None None
    Maximum Deferred Sales Charge (Load) (as a percentage of the lower of original purchase price or sale proceeds) 1.00%1 1.00%1 None
    Annual Fund Operating Expenses
    (expenses that you pay each year as a percentage of the value of your investment)
    Management Fees 1.19% 1.19% 1.19%
    Distribution and/or Service (12b-1) Fees .25% 1.00% None
    Other Operating Expenses .03% .03% .03%

    Total Annual Fund Operating Expenses

    1.47% 2.22% 1.22%

    Fee Waivers and Expense Limitation2

    (.38%) (.38%) (.38%)

    Total Annual Fund Operating Expenses After Fee Waivers and Expense Limitation

    1.09% 1.84% .84%

    1For Class A shares, a contingent deferred sales charge (“CDSC”) of 1.00% applies on certain redemptions made within one year following purchases of $1 million or more made without an initial sales charge. For Class C shares, the CDSC is eliminated one year after purchase.

    2Pursuant to an Advisory Fee Waiver and Expense Assumption Agreement effective through June 1, 2019, the Portfolio’s investment adviser has contractually agreed to waive a portion of its Management Fee payable by the Portfolio so that the Management Fee paid by the Portfolio does not exceed an annual rate of .8125% of the Portfolio’s average daily net assets. The Agreement may be terminated or amended only with the approval of the Trust’s Board of Trustees.

  • LITERATURE

    Portfolio Documents Date of Document PDF
    Summary Prospectus May 31, 2018
    Fact Sheet March 31, 2018
    Investor Guide March 31, 2018
    Annual Returns Since Inception March 31, 2018
    Fund Documents Date of Document PDF
    Prospectus May 31, 2018
    Statement of Additional Information (SAI) May 31, 2018
    Annual Report January 31, 2018
    Semi-Annual Report July 31, 2017
    Schedules of Investments October 31, 2017

    XBRL Information

    eXtensible Business Reporting Language, or XBRL, are interactive files that allow an investor to view, download, and compare certain information regarding a fund's objectives, fees, performance, and risks. XBRL files may be viewed through a free viewer available at sec.gov. Generally, XBRL files will be available on permanentportfoliofunds.com within 15 days of the annual update to the Fund's Prospectus.

      Ticker CUSIP XBRL
    Class A PRVDX 714199445
    Class C PRVHX 714199486
    Class I PRVBX 714199403

The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The Prospectus contains this and other important information about the investment companies. A hard copy may be obtained by calling (800) 531-5142. Read the Prospectus carefully before investing.

Each of the investment products or services referred to on this site may be offered only to investors residing in the United States. This site should not be considered a solicitation or offering of any investment products or services to investors residing outside the United States.

The information provided on this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to certain laws or regulations. Because of the global nature of the Internet, all persons and entities accessing this site do so on their own initiative and agree to comply with all applicable local laws and regulations.

Pacific Heights Asset Management, LLC became the Fund’s investment adviser on May 1, 2003. Prior to that, an investment adviser unrelated to Pacific Heights Asset Management, LLC managed the Fund.

Prior to May 30, 2012, Versatile Bond Portfolio was managed with a different investment objective and strategy. Returns prior to May 30, 2012 represent results under the prior investment strategy. Had the Portfolio been managed in accordance with the current investment objective and strategy, the results portrayed may be different.

Bloomberg Barclays Capital Global Aggregate (Excluding Securitized) Bond Index has characteristics relevant to the Portfolio's current investment strategies. The FTSE AAA/AA 1-3 Years Corporate Bond Index and the FTSE A 1-3 Years Corporate Bond Index have characteristics relevant to the Portfolio's investment strategies prior to May 30, 2012. Bloomberg Barclays Capital Global Aggregate (Excluding Securitized) Bond Index commenced on September 30, 2002. Returns presented, which include periods prior to September 30, 2002, are calculated using the return data of Bloomberg Barclays Capital Global Aggregate Bond Index through September 29, 2002 and the return data of Bloomberg Barclays Capital Global Aggregate (Excluding Securitized) Bond Index since September 30, 2002.

Bloomberg Barclays Capital Global Aggregate (Excluding Securitized) Bond Index has characteristics relevant to the Portfolio's current investment strategies. The FTSE AAA/AA 1-3 Years Corporate Bond Index and the FTSE A 1-3 Years Corporate Bond Index have characteristics relevant to the Portfolio's investment strategies prior to May 30, 2012. Bloomberg Barclays Capital Global Aggregate (Excluding Securitized) Bond Index commenced on September 30, 2002. Returns presented, which include periods prior to September 30, 2002, are calculated using the return data of Bloomberg Barclays Capital Global Aggregate Bond Index through September 29, 2002 and the return data of Bloomberg Barclays Capital Global Aggregate (Excluding Securitized) Bond Index since September 30, 2002.

Bloomberg Barclays Capital Global Aggregate Bond Index is a market-capitalization weighted, broad-based securities index measuring the global investment grade fixed-rate debt markets. Bloomberg Barclays Capital Global Aggregate Bond Index measures a wide range of global government-related, treasury, corporate, and securitized fixed-income investments. Bloomberg Barclays Capital Global Aggregate (Excluding Securitized) Bond Index is a sub-index of Bloomberg Barclays Capital Global Aggregate Bond Index and excludes securitized fixed income investments. FTSE AAA/AA 1-3 Years Corporate Bond Index and FTSE A 1-3 Years Corporate Bond Index are components of FTSE Broad Investment-Grade (BIG) Bond Index, which is an unmanaged, capitalizationweighted index of investment-grade fixed-income securities and is generally considered representative of the U.S. Bond market. Indices are unmanaged and are not subject to fees and expenses. You cannot invest directly in an index. Mutual

Mutual fund investing involves risk; loss of principal is possible.

Versatile Bond Portfolio's investments in debt securities typically decrease in value when interest rates rise. The risk is usually greater for longer-term debt securities. Investments in below investment grade bonds (also referred to as “high yield” or “junk” bonds) present a greater risk of loss to principal and interest than higher-rated securities. Investments in foreign securities involve greater volatility and political, economic and currency risks, and differences in accounting methods. These risks are greater in emerging markets. In addition, certain investments may be illiquid and may be difficult to purchase, sell, or value.

Pacific Heights Asset Management, LLC (“Pacific Heights”) is the investment adviser to Permanent Portfolio Family of Funds (“Fund”). The Fund is distributed by Quasar Distributors, LLC (“Quasar”), a member of FINRA.  Quasar is not affiliated with Pacific Heights.

Not FDIC Insured.  No Bank Guarantee.  May Lose Value.

Permanent Portfolio®, The Permanent Portfolio Family of Funds®, A Fund for All Seasons® and The Permanent Portfolio Family of Funds logo are registered trademarks of Pacific Heights Asset Management, LLC. Copyright © 2018 Permanent Portfolio Family of Funds. All rights reserved.