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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 08/30/2019

Total Net Assets
$2.49 M
Inception Date
08/01/2018
Dividend Frequency
Annually
Number of Holdings
78
Minimum Initial Investment
$1,500+

Expense Ratioas of 08/31/2019

Countryas of 08/30/2019

Country Assets
United States 44.0%
United Kingdom 10.8%
France 10.2%
Ireland 6.2%
Germany 4.2%
Japan 4.0%
Mexico 3.4%
India 3.1%
Bermuda 2.7%
Switzerland 2.5%
Luxembourg 1.5%
Netherlands 1.4%
Turkey 1.3%
Finland 1.0%
Canada 0.9%
Portugal 0.7%
Republic of Korea 0.6%

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 12.87%

Net 1.05%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge 9.95% -4.11% - - - -3.44%
Lipper Category Avg. Global Multi-Cap Core Fds 12.29% -2.12% - - - -
MSCI All Country World Index - Net 13.80% -0.28% - - - 0.47%
w/ sales charge 3.61% -9.63% - - - -8.60%

Fund Expense Ratio :

Gross 12.87%

Net 1.05%

Fund Expense Ratio :

Gross 12.87%

Net 1.05%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2018
w/o sales charge 13.02% - - - - -1.05%
Lipper Category Avg. Global Multi-Cap Core Fds 14.85% - - - - -
MSCI All Country World Index - Net 16.23% - - - - 2.65%
w/ sales charge 6.49% - - - - -6.77%

Fund Expense Ratio :

Gross 12.87%

Net 1.05%

Year Fund Returns MSCI All Country World Index - Net
2018 -12.45% -9.42%
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 10.18% 2.57% - - 14.09%
2018 - - - -13.71% -12.45%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 06/30/2019

  • The portfolio is defensively positioned with an overweight in consumer staples and an underweight positioning in more economically sensitive information technology, consumer discretionary, materials 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.
  • Despite the recent thaw in the U.S. – China trade war, significant impediments still exist in both China and the U.S. to achieve a lasting trade peace. While economic data in several countries, especially those geared to global trade, continue to weaken, the portfolio has remained 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 08/30/2019

Weighted Average Market Cap.
102.9 B
P/E Ratio
16.4x
P/B Ratio
1.6x
Number of Holdings
78
Total Net Assets
$2.49 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  06/28/2019

Contributors

Holding Contribution
Walt Disney Co. 0.6%
Banco Comercial Portugu 0.4%
SAP AG 0.3%
Aramark Hldgs Corp 0.3%
ICICI Bank Ltd. 0.3%

Detractors

Holding Contribution
Conduent Inc -0.5%
The Royal Bank of Scotland Group plc -0.4%
Amc Entmt Hldgs Inc -0.3%
Myovant Sciences Ltd -0.3%
Bank Of Ireland Group P -0.3%

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 09/13/2019

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $50,000 5.75% 5.00% $15.81
$50,000 to $99,999 4.75% 4.00% $15.64
$100,000 to $249,999 3.95% 3.25% $15.51
$250,000 to $499,999 2.75% 2.25% $15.32
$500,000 to $999,999 1.95% 1.75% $15.20
$1,000,000 to $5,000,000 0.00% 1.00% $14.90

Expense Ratioas of 08/31/2019

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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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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