As you can see bond funds look real good through the review mirror. http://finance.yahoo.com/echarts?s=^TNX+Interactive#chart1:s...As yield decreases the value of the bonds in the fund increase creating stellar results. The question we need to mull is where can bond funds go now that the Fed has the overnight rate at zero and has entered the market to buy bonds further up the maturity chain to keep prices low?With a duration of 5.1 in order to get near past performance the 10 year would have to drop by 2% - 2.5%, how likely do we think that is?With that said, it seems that this team of managers has managed a pretty good fund and could be expected to continue to do so. I just would not anticipate double digit returns. jack
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