Investment objective & strategy
As of Feb. 25, 2022 · prospectusObjective. The Fund's investment objective is long-term growth of capital.
Strategy. The Fund invests primarily in equity securities and depositary receipts of domestic and foreign issuers. The principal types of equity securities in which the Fund invests are common and preferred stock. The Funds common stock investments also include China A-shares (shares of companies based in mainland China that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange). Under normal circumstances, the Fund will provide exposure to investments that are economically tied to at least three different countries, including the U.S. Under normal circumstances, the Fund will invest a percentage of its net assets in investments that are economically tied to countries other than the U.S. in an amount equal to at least the lesser of (a) 40%, unless … The Fund invests primarily in equity securities and depositary receipts of domestic and foreign issuers. The principal types of equity securities in which the Fund invests are common and preferred stock. The Funds common stock investments also include China A-shares (shares of companies based in mainland China that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange). Under normal circumstances, the Fund will provide exposure to investments that are economically tied to at least three different countries, including the U.S. Under normal circumstances, the Fund will invest a percentage of its net assets in investments that are economically tied to countries other than the U.S. in an amount equal to at least the lesser of (a) 40%, unless market conditions are not deemed favorable, in which case, at least 30%, or (b) the percentage of foreign issuers represented in the MSCI ACWI Index minus 10%. The Fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles. The Fund invests primarily in securities of issuers that are considered by the Funds portfolio manager to have potential for earnings or revenue growth. The Fund invests primarily in the securities of large-capitalization issuers and may invest a significant amount of its net assets in the securities of mid-capitalization issuers. The Fund can invest in derivative instruments, including forward foreign currency contracts and futures contracts. The Fund can use forward foreign currency contracts to hedge against adverse movements in the foreign currencies in which portfolio securities are denominated; although the Fund has not historically used these instruments. The Fund can use futures contracts to gain exposure to the broad market in connection with managing cash balances or to hedge against downside risk. The portfolio manager employs a disciplined investment strategy that emphasizes fundamental research. The fundamental research primarily focuses on identifying quality growth companies and is supported by quantitative analysis, portfolio construction and risk management. Investments for the portfolio are selected bottom-up on a security-by-security basis. The focus is on the strengths of individual issuers, rather than sector or country trends. The portfolio managers strategy primarily focuses on identifying issuers that they believe have sustainable earnings growth, efficient capital allocation, and attractive prices. The Funds portfolio manager may consider selling a security for several reasons, including when (1) its price changes such that they believe it has become too expensive, (2) the original investment thesis for the company is no longer valid, or (3) a more compelling investment opportunity is identified.
Top holdings
As of Jan. 31, 2023 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ALPHABET INC CL A | — | $49.53M | 10.14% |
| LVMH MOET HENNESSY LOUIS VUITTON SE | MC | $31.55M | 6.46% |
| ANALOG DEVICES INC | — | $25.34M | 5.19% |
| S&P GLOBAL INC | — | $25.11M | 5.14% |
| INTUIT INC | — | $23.36M | 4.78% |
| Airbus SE | — | $22.89M | 4.69% |
| JD.COM INC SPON ADR | — | $22.72M | 4.65% |
| META PLATFORMS INC CL A | — | $19.24M | 3.94% |
| NOVO-NORDISK AS CL B | — | $18.15M | 3.71% |
| KEYENCE CORP | — | $15.98M | 3.27% |
Portfolio moves
Oct 31, 2022 → Jan 31, 2023How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Grizzle Growth ETF | 22% | 0.75% |
| Fount Subscription Economy ETF | 18% | 0.70% |
| Invesco International Select Equity Fund | 17% | 0.96% |
Footnotes
- Net assets and holdings count as of January 31, 2023, from the fund's N-PORT filing.
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