BSHIX

About BSHIX

Bishop Street Hawaii Municipal Bond Fund Class Institutional is an open-end municipal bond fund focused on generating high current income that is substantially exempt from federal and Hawaii state income taxes. The fund primarily invests in investment-grade obligations of Hawaii state and local government issuers, financing essential public projects such as airports, housing, water systems, harbors, and university facilities. Its single-state mandate concentrates exposure in Hawaii municipal securities, making the portfolio sensitive to the state’s economic and regulatory conditions. The strategy typically maintains an intermediate duration profile aligned within a margin of its benchmark, seeking a balance between income and interest-rate risk. Managed by Bishop Street Capital Management, the fund emphasizes quality, diversification across sectors within Hawaii’s municipal market, and disciplined risk management. Class Institutional shares feature a contractual expense waiver in place through April 30, 2025, supporting a competitive net expense profile for this share class. By delivering tax-advantaged income from a focused municipal universe, Bishop Street Hawaii Municipal Bond Fund Class Institutional plays a specialized role for investors seeking double tax-exempt income tied to Hawaii’s public finance infrastructure.