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Global Select Equity Fund

Summary

Summary

What is the Global Select Equity Fund?

The Fund seeks to deliver long-term capital appreciation by investing in equity securities of global issuers across all market capitalizations.

Fund Basicsas of 09/30/2019

Total Net Assets
$2.56 M
Inception Date
08/01/2018
Dividend Frequency
Annually
Fund Gross Expense Ratio
12.62%
Fund Net Expense Ratio
0.80%
Number of Holdings
81
Minimum Initial Investment
$1,000,000+

Countryas of 09/30/2019

Country Assets
United States 41.5%
United Kingdom 10.2%
France 9.4%
Ireland 7.1%
India 4.9%
Germany 4.3%
Japan 4.1%
Mexico 3.3%
Bermuda 2.5%
Switzerland 2.3%
Luxembourg 1.7%
Turkey 1.5%
Netherlands 1.0%
Finland 1.0%
Canada 0.9%
Italy 0.8%
Portugal 0.7%
Republic of Korea 0.7%
Cayman Islands 0.4%

INVESTMENT TEAM

Asad A. Mawjee, CFA
Asad A. Mawjee, CFA

Portfolio Manager

20 Years of Industry Experience

Supported By 19 Investment Professionals with 34 Years Avg. Industry Experience

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Performance

Performance

Fund Expense Ratio :

Gross 12.62%

Net 0.80%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge 16.31% 7.59% - - - 1.53%
Lipper Category Avg. Global Multi-Cap Core Fds 17.46% 10.21% - - - -
MSCI All Country World Index - Net 19.38% 12.59% - - - 4.31%

Fund Expense Ratio :

Gross 12.62%

Net 0.80%

Fund Expense Ratio :

Gross 12.62%

Net 0.80%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge 13.48% -2.06% - - - -0.48%
Lipper Category Avg. Global Multi-Cap Core Fds 14.72% -0.40% - - - -
MSCI All Country World Index - Net 16.20% 1.38% - - - 2.24%

Fund Expense Ratio :

Gross 12.62%

Net 0.80%

Year Fund Returns MSCI All Country World Index - Net
2018 -12.37% -9.42%
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 10.26% 2.64% 0.27% - 18.15%
2018 - - - -13.69% -12.37%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 09/30/2019

  • The portfolio is defensively positioned with an overweight in consumer staples and an underweight positioning in more economically sensitive information technology, consumer discretionary, energy and industrial companies. We believe that rising economic, political, and policy risks around the world warrant a selective approach to risk.
  • The portfolio’s overweight in financials is largely driven by what we believe to be highly asymmetric opportunities in select EM and European financial services companies with strong bottom up fundamentals and the potential for investor patience to be rewarded.
  • Significant impediments still exist in both China and the U.S. to achieve a lasting trade peace. As economic data in several countries, especially those geared to global trade, continue to weaken, the portfolio remains underweight in Emerging Markets.
  • Key identifiable risks include renewed escalation in the U.S.-China trade dispute, a hard Brexit outcome, disruption in global supply chains as companies prepare for de-globalization, and signs of renewed inflation leading to the possibility of U.S. Federal Reserve policy reversal.

Portfolio Details as of 09/30/2019

Weighted Average Market Cap.
98.5 B
P/E Ratio
16.8x
P/B Ratio
1.6x
Number of Holdings
81
Total Net Assets
$2.56 M

Attribution Analysis 

Global Select Equity Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

Contributors & Detractors as of  09/30/2019

Contributors

Holding Contribution
CVS Health Corp. 0.4%
United Parc Service Inc 0.4%
Aramark Hldgs Corp 0.3%
Dollar Tree Inc 0.2%
Alphabet, Inc. 0.2%

Detractors

Holding Contribution
Bank Of Ireland Group P -0.8%
DXC Technology Co. -0.6%
Conduent Inc -0.4%
Aib Group Plc -0.3%
SAP AG -0.3%

Fees & Expenses

Fees & Expenses

Expense Ratioas of 10/31/2019

Fund Gross Expense Ratio Fund Net Expense Ratio
12.62% 0.80%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
n/a
Statutory Prospectus
Publish Date:11/03/2015
n/a
Prospectus (XBRL)
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015

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