ICYMI
http://www.seafarerfunds.com/message-to-shareholders/2016/08/31/

DPIEX is beyond limit for most investors - the minimum investment is $1 M and it has no investor class with smaller initial investment.

BobC and VF each highlight interesting questions, as there are at least two different perspectives on each of their issues.
What is the responsibility of a corporation? Corporations owe their legal existence (shielding shareholders from personal liability, etc.) to the state, and as such have traditionally been regarding as having some public obligations. Over the past 30 years or so, that perspective has shifted toward viewing corporations as answerable solely to their shareholders.
The two perspectives are not entirely incompatible, as VF suggests by mentioning an obligation to do right by their employees. Either because that's part of an implicit agreement with the state that grants corporations legal status, or because companies that treat their employees well tend to be more profitable and thus benefit their shareholders.
Either way, there is a third leg to this stool - the customers. Corporations have an obligation to do right by them as well.
Which brings us to spin - a question applicable to all media companies, not just Morningstar. There is one line of thinking (implicit in BobC's comment) that all publishers pander - so let's give up on any pretense of objectivity. You see this in some press internationally, and it was widespread in the US a century ago.
The pendulum may be swinging back that way. Not just Fox News, but CNN where the "talent" has to add disclaimers on air that they are still on outside payroll.
But that doesn't mean objectivity is a fool's errand. Some publishers build firewalls between content and advertising departments. Never 100% effective (IMHO), they nevertheless do (or at least can do) a good job in keeping the content fairly objective.
M*'s firewall: http://discuss.morningstar.com/NewSocialize/forums/t/251837.aspx
(I readily acknowledge that M*'s 2010 statement that it was investing in its infrastructure undermines its credibility regarding its firewall.)

Reminds one of GoldmanSachs "doing God's work" statement........... :)
http://www.businessinsider.com/lloyd-blankfein-says-he-is-doing-gods-work-2009-11

Hi @jerry
I recall the choices for the TIAA Michigan 529 were limited 10+ years ago and the fees were much higher for a direct purchase (which we use, no advisor stuff).
I checked MI 529 today and find the fees are now competitive.
NOTE: Much has changed during the past 10 years in the 529 marketplace. I recall quite a few vendor changes in numerous state plans; as well as significant fee reductions.
MICH 529 TIAA This links to multi-fund choices, with single fund choices clickable on the right side page edge. The multi-funds (I read) are funds of funds. These appear to be suitable enough for most folks.
UTAH 529 plan choices, individual selections This is the "build your own" list. The recent adds of the DFA funds have "high" expenses, relative to the Vanguard choices.
'Course the bugger with any of the choices are the restrictions on changing the investment choices; which, until 2015 was limited to 1 switch per calendar year and is now 2 allocation changes each year. This is now sufficient, IMHO.
Anyhoo..........Utah's plan was more appealing to us a number of years ago, and still is; and we find no need to transfer from this into Michigan's current offering. Don't know that I implied a negative towards TIAA, just not the best choice at the time and wouldn't likely be the choice today.
K...........back to house painting here.
Regards,
Catch

"Choose all index funds and look at those that are not doing well. buy a chunk......."
VintageFreak, which are those index funds that are not doing well, that you would buy now?
"wait to buy next chunk. and next. and next"
How long would you wait, and what are you waiting for/looking for?

What I meant was look at sectors that are out of favor now. If you are looking to increase your a location to that part of market go with corresponding index fund. You are not to compare index funds against each other like to compRe active funds. Needless to say don't buy index fuds from CrookedRUs funds. Stick with vanguRd,fido,trp,etc

FYI: The Securities and Exchange Commission has barred Logos Wealth Advisors founder Paul Mata and his fund manager for fraudulently raising more than $14 million from investors
Regards,
Ted
http://www.investmentnews.com/article/20160831/FREE/160839978?template=printart

Regarding bond funds - Vanguard funds will always merit consideration, because for bond funds the correlation between cost and performance is quite strong. Why another bond fund? Because one rarely gets an actively managed bond fund at this low a cost and this small a size.
What makes me queasy about the fund (at least going by the description) is that this sounds like what Vanguard did with its total bond index fund in 2002 (when it managed to underperform its benchmark by about 1%). See this old M* thread:
http://socialize.morningstar.com/NewSocialize/forums/t/69530.aspx
Regarding the equity funds - M* star ratings provide objective summaries of past (risk adjusted) past performance. 4* and 5* performances may not indicate future results, but they do say that these funds have done well relative to their peers. HRSRX (4*), MVSGX(4*), DPIEX (5*), WCMRX (5*). Likewise, these funds' returns (not risk adjusted) over 3, 5, and 10 years are all above average (4) or high (5).

Hi Guys,
As General Anthony McAulife famous said in the 1944 Battle of Bastogne "Nuts". Short but on target.
I felt the same way after initially replying to the question on this post. I said "Immediately" without proper research before responding. I gave a gut reaction and that's not good investment policy. So I did a little research, and fortunately it confirmed my seat-of-the-pants recommendation.
Here is a Link to a study by a reputable outfit that yields a confirmatory conclusion:
http://www.schwab.com/public/schwab/nn/articles/Does-Market-Timing-Work
Sorry for my casual initial reply. Alex, I hope you decide quickly. The time for information gathering has past and a decision is waiting. Nobody can predict market turning points.
Best Wishes.

Rather cryptic until one realizes that Loomis Sayles is merely rearranging its share classes today. Retail and I shares no longer exist, so of course they can't be purchased or redeemed.
Class I (this share class) -> Class Y
Class Retail -> Class A (load waived, grandfathered)
From a previous supplement:
"On or about August 31, 2016, any outstanding Retail Class shares of the Fund will be redesignated as Class A shares of the Fund. Also on such date, any outstanding Institutional Class shares of the Fund will be redesignated as Class Y shares of the Fund. ... Retail Class and Institutional Class shares will be available for purchase through the Fund’s Prospectus until the date of such redesignations."
http://quote.morningstar.com/fund-filing/Summary-Prospectus-Supplement/2016/6/17/t.aspx?t=LSDIX&ft=497&d=d9facfa87f044731bc014834b139a194

If its a taxable account buy after the fund has its year end capital distribution . If its not a taxable account any date could work out well or badly . If you believe the consensus wait till at least a month after the election as there will be a lot of noise in the market in the short run after election day.A slightly cautious move buy 1/4th now 1/4 Sept 27 (after the first debate 1.4th after election day and 1/4th after inauguration. This is the best chance to avoid the "washington nonsense"

Thanks for the question. It made me rethink and remind myself of the importance of having a plan when it comes to the use of discretionary money.
If the goal is to meet future retirement needs (income) I suggest the following:
Year one:
-Consider using some of this money to "treating" yourself and others with a "gift". You would be amazed at how great it feels to give to a charity or a loved one.
-If you haven't yet funded an emergency fund:
Determine what 6-12 months of living expenses would be and create an emergency fund (cash/near cash).
-If you have earned income, fund retirement accounts:
1st - Match employer contribution (401K/403b/457/etc)
2nd - Fully fund a Roth IRA (Roth IRA)
3rd - Max out employer offered retirement plans or, if self employed, max out SDIRA
-Health insurance wise, Are you eligible to contribute to an H.S.A (Health Savings Account). If so. use some of the money to max out your contribution?
Make it a point to continue funding the above accounts until you are no longer eligible. The remaining balance could be divided in three investment pools.
1-3 years
-The goal with this money is to meet the needs of what was laid out in year one each year going forward, but could also serve as a good plan for supplementing retirement income needs. It should be invested conservatively and replenished (re-balanced) using funds from the other two pools once a year. ST bond, IT bond, and MS bond funds work well here. Maybe even conservative allocation funds like VWINX.
4-10 years
Find a few good Balance funds...CBALX, VTMFX, VWELX, FBALX, etc. Re-balance once a year by redeeming some of these shares and replenishing your 1-3 year pool funds.
10 years +
This pool is home Moderate Allocation funds like (PRWCX), Aggressive Allocation funds like (POAGX) and well as any Alternative Allocation (RE, Utility, PM, HY Bonds, etc) funds. It will serve the purpose of long term growth as well as the occasional place to re-balance with the other two pools.
What is the purpose of your goal of achieving dividend and interest?
Good Luck!

PCI can still be had at a discount.

Thank you, I will look into PCI
I also agree that dividend and interest instruments have gotten ahead of themselves. And with the FED talking a raise I can wait for a pull back to the end of the year. But, I still feel that over the next 5 years at least they will be a good investment.
"From 1945 to 2001, and 10 cycles, recessions lasted an average 10 months and expansions an average of 57 "
https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States
The Great Recession ended June 2009, so maybe we are due for a recession when interest rates will fall again. This is something I have not read about anywhere - that this expansion is getting old. That could be because most do not feel like a robust expansion.
From reading some of the posts on this board I've become less fearful of general inflation. The factors just don't seem to be there; except for an oil embargo or war.

https://www.sec.gov/Archives/edgar/data/917469/000119312516697721/d232478d497.htm
497 1 d232478d497.htm LOOMIS SAYLES FUNDS I
LOOMIS SAYLES INTERMEDIATE DURATION BOND FUND
Supplement dated August 31, 2016 to the Prospectus and Statement of Additional Information (“SAI”) of the Loomis Sayles Intermediate Duration Bond Fund (the “Fund”), each dated February 1, 2016, as may be revised or supplemented from time to time.
Effective immediately, shares of the Fund can no longer be purchased, exchanged or redeemed through the prospectus or SAI referenced above.

Your funds kick off goodly amounts of income, some of it with leverage. It will be taxed at regular income rates as you probably already know. PCI can still be had at a discount. I am also looking into NJ municipal closed end funds. (NJ resident) God knows what will happen when interest rates rise...probably not good in the short run but good for bank interest and CDs. I think you can get CDs at 2% if you lock in 5years. Sam Lee has noted in the past that CDs are likely preferable to short term bonds since they are FDIC insured and a 2% yield is similar to CDs. If you can fully fund Roth IRAs or regular IRAs/401k etc, do that if possible. Age, work history, taxes will all play a part; just by two bits as a non professional. Good luck.

@MFO Members: Very impressive short-term performance results for a fund only a little over a year old. However, it has a very highly concentrated portfolio, just 19 stock, and is a damm the torpedos, full speed ahead long-term capital appreciation fund. Before I can claim it a winner, winner, chicken dinner, I'd like to see a couple of more years of performance results.
Regards,
Ted

What is being targeted is investors, not asset allocation. To paraphrase what 00BY wrote, the fund is designed for (targeted to) investors who want a fully invested, volatile (concentrated) fund.
There is nothing in the prospectus (or SAI) saying that the cash will be under 10%. What the prospectus does say is that all the other funds in the family are free to invest without limit in cash. Well, actually it says "each Fund, other than the Intrepid Select Fund, may hold in excess of 25% of its assets in cash ... at any time or for an extended time."
What's magical about 25%? I can't say I don't have a clue, but the clue that I have is pretty useless. Under Principal Risks of Investing In Each Fund (prospectus), "Cash Position Risk" is identified as a risk for all the funds except Intrepid Select. Perhaps if a fund has less than 25% in cash for an extended time, cash drag is not a principal risk? Or maybe this section is what implies Intrepid Select should normally stay under 10%?
Like most funds, all of the funds here (including Intrepid Select) reserve the right to go to cash. "In order to respond to adverse market, economic, political or other conditions, the Fund may assume a temporary defensive position that is inconsistent with its investment objective and ... strategies and invest, without limitation, in cash ..."
That's where the wiggle room comes from.

To clarify, the fact sheet says the target is no more than 10% cash

Can't be limited to 10%. It's over 20% as is.

I myself believe that this is majorly misunderstanding what mutual funds are for and do, which is an over-time function, but whatever.
Can you not get and/or infer what you need looking at performance vs indexes and competitors for the short terms, 1w/1m/3m/ytd/1y? I spend mucho time on M* with various funds setting the graph counter ($10k growth) for 6w, 12w, ytd, 18m, 30m, etc. etc. I also check every day of a big swing to see how DSENX does compared with PRBLX, DVY, and all the rest, even IJH.