GuideStone Funds plans to launch Flexible Income Fund in July

By Toni Weeks

San Luis Obispo, Calif., April 17 - GuideStone Funds announced its plans to launch a new high-yield, fixed-income fund in July, the GuideStone Funds Flexible Income Fund.

According to a 497 filing with the Securities and Exchange Commission, the fund will seek a high level of current income by investing in a diversified portfolio of below-investment-grade fixed-income securities with varying maturities across a broad number of issuers, borrowers and industries.

The fund invests primarily in senior secured and unsecured floating-rate loans made by U.S. banks and other financial institutions as well as high-yield and investment-grade corporate securities located in the United States, with up to 10% of the fund's net assets invested in investment-grade securities.

Mark R. Shenkman, Frank Whitley and Jonathan Savas will comprise the portfolio management team.

The fund will offer a GS4 share class. Its ticker symbol is "GFLZX."

Total annual operating expenses are estimated at 1.2%, which includes a 0.75% management fee and takes into account a fee waiver and expense reimbursement agreement with the adviser, Dallas-based GuideStone Capital Management.

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