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Health Care Fund

Summary

Summary

What is the Health Care Fund?

The Fund seeks to deliver long-term growth of capital by investing primarily in stocks of companies within the health care sector.

Fund Basicsas of 04/30/2020

Total Net Assets
$3.88 M
Inception Date
08/01/2019
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
76
Minimum Initial Investment
$1,500+

Expense Ratioas of 04/30/2020

Fund Expense Ratio :

Gross 9.00%

Net 1.03%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2019
w/o sales charge -0.62% - - - - 7.27%
Lipper Category Avg. Health/Biotechnology Funds -2.04% - - - - -
MSCI ACWI Health Care Index (Net) -1.09% - - - - 12.19%
w/ sales charge -6.34% - - - - 1.07%

Fund Expense Ratio :

Gross 9.00%

Net 1.03%

Fund Expense Ratio :

Gross 9.00%

Net 1.03%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2019
w/o sales charge -11.37% - - - - -4.33%
Lipper Category Avg. Health/Biotechnology Funds -13.75% - - - - -
MSCI ACWI Health Care Index (Net) -11.39% - - - - 0.50%
w/ sales charge -16.47% - - - - -9.86%

Fund Expense Ratio :

Gross 9.00%

Net 1.03%

INVESTMENT TEAM

Devesh Karandikar
Devesh Karandikar

Portfolio Manager

25 Years of Industry Experience

Matthew R. DeCicco
Matthew R. DeCicco, CFA

Managing Director & Portfolio Manager

21 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 9.00%

Net 1.03%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2019
w/o sales charge -0.62% - - - - 7.27%
Lipper Category Avg. Health/Biotechnology Funds -2.04% - - - - -
MSCI ACWI Health Care Index (Net) -1.09% - - - - 12.19%
w/ sales charge -6.34% - - - - 1.07%

Fund Expense Ratio :

Gross 9.00%

Net 1.03%

Fund Expense Ratio :

Gross 9.00%

Net 1.03%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2019
w/o sales charge -11.37% - - - - -4.33%
Lipper Category Avg. Health/Biotechnology Funds -13.75% - - - - -
MSCI ACWI Health Care Index (Net) -11.39% - - - - 0.50%
w/ sales charge -16.47% - - - - -9.86%

Fund Expense Ratio :

Gross 9.00%

Net 1.03%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 03/31/2020

  • We believe the market persistently underestimates the return potential of innovative health care companies that are developing major medical advances or reducing medical costs. As such, the Fund continues to tilt towards products and services that address unmet clinical needs, manage evolving product portfolios, or capture opportunities in which health care delivery models are changing.
  • Additionally, the Fund is overweight the Life Science Tools and Diagnostics industry. The Life Science Tools and Diagnostics industry has become increasingly vital to our healthcare system as COVID-19 rapidly spreads throughout the world.  The first line of defense in combating the pandemic is to confirm the disease burden, and that is done through diagnostic testing. Health care systems are resource constrained as it pertains to dealing with COVID-19 and need rapid testing. Accurate and rapid diagnostics are crucial in determining a response for COVID-19, as global health care resources are strained.
  • Additionally, the Fund remains overweight Health Care Equipment and Supplies.  We have focused on companies that have developed new treatments and monitoring devices which have produced better outcomes and reduced recovery times.  The Fund is focused on products and procedures that are necessary or cannot be deferred for long lengths of time. 
  • The Fund has maintained its exposure to biotechnology firms, particularly in oncology, rare diseases, and gene therapy, with high-impact drugs in their pipelines. Our belief is that large biotechnology / pharmaceutical companies are in a continuous search for growth opportunities, while smaller biotechnology companies are developing breakthrough drugs.
  • We have remained focused on our core principles as we monitor and adjust to the ever-changing environment caused by a novel coronavirus causing COVID-19.

Portfolio Details as of 04/30/2020

Total Net Assets
$3.88 M
Number of Holdings
76
Weighted Average Market Cap.
83.3 B
P/B Ratio
5.6x
P/E Ratio
25.2x

Attribution Analysis 

Health Care Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

Contributors & Detractors as of  03/31/2020

Contributors

Holding Contribution
Forty Seven Inc 1.0%
Teladoc Inc 0.4%
Twist Bioscience Corp 0.4%
Acceleron Pharma Inc 0.4%
Ehealth, Inc. 0.4%

Detractors

Holding Contribution
Boston Scientific Corp. -0.7%
Merck & Co., Inc. -0.6%
Zimmer Holdings, Inc. -0.5%
CVS Health Corp. -0.5%
Mirati Therapeutics Inc -0.5%

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 05/29/2020

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $50,000 5.75% 5.00% $18.43
$50,000 to $99,999 4.75% 4.00% $18.24
$100,000 to $249,999 3.95% 3.25% $18.08
$250,000 to $499,999 2.75% 2.25% $17.86
$500,000 to $999,999 1.95% 1.75% $17.72
$1,000,000 to $5,000,000 0.00% 1.00% $17.37

Expense Ratioas of 04/30/2020

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
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015

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