Investment objective & strategy
As of April 14, 2023 · prospectusObjective. The Fund seeks long-term growth of capital by investing primarily in common stocks of foreign companies.
Strategy. To pursue its goal, the Fund invests mainly in common stocks of foreign companies of any size, including companies in developed and emerging markets. The Fund defines a foreign company as one that is organized outside of the United States and conducts the majority of its business abroad. In picking stocks, the Portfolio Managers look for what they believe to be well-managed and profitable companies that show growth potential and whose stock prices are undervalued. Factors in identifying these firms may include strong fundamentals, such as attractive cash flows and balance sheets, as well as prices that are attractive in light of projected returns. The Portfolio Managers also consider the outlooks for various countries and regions around the world, examining … To pursue its goal, the Fund invests mainly in common stocks of foreign companies of any size, including companies in developed and emerging markets. The Fund defines a foreign company as one that is organized outside of the United States and conducts the majority of its business abroad. In picking stocks, the Portfolio Managers look for what they believe to be well-managed and profitable companies that show growth potential and whose stock prices are undervalued. Factors in identifying these firms may include strong fundamentals, such as attractive cash flows and balance sheets, as well as prices that are attractive in light of projected returns. The Portfolio Managers also consider the outlooks for various countries and regions around the world, examining economic, market, social, and political conditions. As part of their fundamental investment analysis the Portfolio Managers consider Environmental, Social and Governance (ESG) factors they believe are financially material to individual investments, where applicable, as described below. While this analysis is inherently subjective and may be informed by both internally generated and third-party metrics, data and other information, the Portfolio Managers believe that the consideration of financially material ESG factors, alongside traditional financial metrics, may enhance the Funds overall investment process. The consideration of ESG factors does not apply to certain instruments, such as certain derivative instruments, other registered investment companies, cash and cash equivalents. The consideration of ESG factors as part of the investment process does not mean that the Fund pursues a specific impact or sustainable investment strategy. The Fund seeks to reduce risk by diversifying among many companies and industries. Although the Fund has the flexibility to invest a significant portion of its assets in one country or region, it generally intends to invest across a broad range of countries and geographical regions. At times, the Portfolio Managers may emphasize certain sectors or industries that they believe offers a better risk/reward opportunity. The Portfolio Managers follow a disciplined selling strategy and may sell a security when it reaches a target price, if a companys business fails to perform as expected, or when other opportunities appear more attractive. The Fund will not change its strategy of normally investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities, without providing shareholders at least 60 days notice. This test is applied at the time the Fund invests; later percentage changes caused by a change in Fund assets, market values or company circumstances will not require the Fund to dispose of a holding.
Top holdings
As of March 31, 2024 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ASML Holding NV | — | $1.27M | 3.68% |
| ASTRAZENECA PLC | — | $840.58K | 2.44% |
| LONDON STOCK EXCHANGE GRP PLC | — | $731.01K | 2.13% |
| EXPERIAN PLC COMMON STOCK USD.1 | EXPN | $710.59K | 2.07% |
| HITACHI LTD | — | $654.22K | 1.90% |
| SYMRISE AG COMMON STOCK | SY1 | $637.39K | 1.85% |
| RELX PLC | — | $607.18K | 1.77% |
| SHELL PLC | — | $579.60K | 1.69% |
| BAE SYSTEMS PLC | — | $534.06K | 1.55% |
| NESTLE SA (REG) | — | $517.90K | 1.51% |
Portfolio moves
Dec 31, 2023 → Mar 31, 2024How 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. |
|---|---|---|
| VP International Fund | 23% | 1.09% |
| AB International Low Volatility Equity Portfolio | 22% | 0.75% |
| AB Sustainable International Thematic Portfolio | 21% | 1.54% |
Footnotes
- Net assets and holdings count as of March 31, 2024, from the fund's N-PORT filing.
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