Investment objective & strategy
As of April 26, 2023 · prospectusObjective. The Emerging Markets Leaders Fund seeks long-term capital appreciation by investing primarily in equity securities in emerging markets around the world.
Strategy. Under normal conditions, the Fund invests at least 80% of its net assets in equity securities of companies that are organized in, maintain at least 50% of their assets in, or derive at least 50% of their revenues from, emerging market countries. The Adviser has broad discretion to identify countries that it considers to qualify as emerging markets. The Adviser selects emerging market countries that the Fund will invest in based on the Advisers evaluation of economic fundamentals, legal structure, political developments and other specific factors the Adviser believes to be relevant. The Fund is considered to be non-diversified which means that it may invest a larger portion of its assets in a single issuer. Utilizing qualitative and quantitative measures, … Under normal conditions, the Fund invests at least 80% of its net assets in equity securities of companies that are organized in, maintain at least 50% of their assets in, or derive at least 50% of their revenues from, emerging market countries. The Adviser has broad discretion to identify countries that it considers to qualify as emerging markets. The Adviser selects emerging market countries that the Fund will invest in based on the Advisers evaluation of economic fundamentals, legal structure, political developments and other specific factors the Adviser believes to be relevant. The Fund is considered to be non-diversified which means that it may invest a larger portion of its assets in a single issuer. Utilizing qualitative and quantitative measures, the Adviser seeks to invest in reasonably-priced companies that have strong structural growth potential. The Adviser seeks attractive investment opportunities in all areas of emerging markets, and utilizes a flexible investment approach across medium and large market capitalizations. The Adviser seeks to (i) integrate financially-material environmental, social and governance (ESG) factors into the Funds investment process and (ii) reduce material exposure to issuers that the Adviser deems controversial in the ESG universe. The Funds holdings may include issues denominated in currencies of emerging market countries, investment companies (like country funds) that invest in emerging market countries, and depositary receipts, and similar types of investments, representing emerging market securities. The Fund may enter into foreign currency transactions to attempt to moderate the effect of currency fluctuations. The Fund may also invest in special purpose acquisition companies (SPACs). The Fund may invest up to 20% of its net assets in securities issued by other investment companies, including exchange-traded funds (ETFs). The Fund may also invest in money market funds, but these investments are not subject to this limitation. The Fund may invest in ETFs to participate in, or gain exposure to, certain market sectors, or when direct investments in certain countries are not permitted or available. The Fund may also invest in restricted securities, including Rule 144A securities.
Top holdings
As of Sept. 30, 2023 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Kaspi.Kz JSC SPONSORED ADS | KSPI | $416.24K | 8.06% |
| RELIANCE INDUSTRIES LTD(DEMAT)DEMATERIALIZED SHS | — | $337.43K | 6.53% |
| PROSUS NV | — | $250.46K | 4.85% |
| MERCADOLIBRE INC | — | $215.54K | 4.17% |
| KE Holdings Inc. SPONSORED ADS | BEKE US | $206.42K | 4.00% |
| HDFC BANK LTD | — | $165.01K | 3.19% |
| MINISO Group Holding Ltd. SPONSORED ADS | MNSO US | $160.58K | 3.11% |
| INTL CONTAINER TERM SVCS INC COMMON STOCK | ICT | $149.78K | 2.90% |
| VAMOS LOCACAO DE CAMINHOES MAQUINAS E EQUIPAMENTOS SA | — | $135.78K | 2.63% |
| SHENZHOU INTL GP | — | $135.04K | 2.61% |
Portfolio moves
Jun 30, 2023 → Sep 30, 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. |
|---|---|---|
| WisdomTree India ex-State-Owned Enterprises Fund | 10% | 0.58% |
| Polen Emerging Markets ex China Growth Fund | 10% | 1.25% |
| First Trust BICK Index Fund | 9% | 0.64% |
Footnotes
- Net assets and holdings count as of September 30, 2023, from the fund's N-PORT filing.
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.