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GLVAX

Global Value Fund

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Overview

The Strategy invests in a mix of undervalued U.S. and foreign stocks.

Inception Date
October 1, 2007
Investment Style
Global Value
Fund Index
MSCI ACWI
CUSIP
68380Q109
NAV
  • A
(as of 01/16/2018)
$52.84
Total Assets
(as of 12/31/2017)
$563.00 MM
Gross Expense Ratio
(as of 12/31/2017)
1.31%
Net Expense Ratio
(as of 12/31/2017)
1.31%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2017
  • B
as of 12/31/2017
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Global Value Fund (NAV)
25.08% 25.08% 7.22% 10.84% 7.85% 6.12%
MSCI ACWI
23.97% 23.97% 9.30% 10.80% 4.65% -
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Global Value Fund (with sales charge)
17.89% 17.89% 5.12% 9.53% 7.21% 5.51%
MSCI ACWI
23.97% 23.97% 9.30% 10.80% 4.65% -
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Global Value Fund (NAV)
25.08% 25.08% 7.22% 10.84% 7.85% 6.12%
MSCI ACWI
23.97% 23.97% 9.30% 10.80% 4.65% -
Cumulative
Annualized
ytd as of 2017-12-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Global Value Fund (with sales charge)
17.89% 17.89% 5.12% 9.53% 7.21% 5.51%
MSCI ACWI
23.97% 23.97% 9.30% 10.80% 4.65% -
Gross Expense Ratio: 1.31% | Net Expense Ratio: 1.31%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.


Year Global Value Fund MSCI ACWI
2008 -47.04% -42.19%
2009 73.81% 34.63%
2010 25.57% 12.67%
2011 -7.94% -7.35%
2012 19.55% 16.13%
2013 42.58% 22.80%
2014 -4.80% 4.16%
2015 -0.65% -2.36%
2016 -0.82% 7.86%
2017 25.08% 23.97%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.


Date Global Value Fund MSCI ACWI S&P 500
12/31/2007 0.00 0.00 0.00
1/31/2008 -7.17 -8.19 -6.00
2/29/2008 -8.23 -7.93 -9.05
3/31/2008 -11.97 -9.28 -9.44
4/30/2008 -6.71 -4.22 -5.03
5/31/2008 -3.74 -2.72 -3.80
6/30/2008 -17.35 -10.71 -11.91
7/31/2008 -15.13 -13.03 -12.65
8/31/2008 -6.90 -14.90 -11.39
9/30/2008 -21.48 -25.54 -19.29
10/31/2008 -41.72 -40.29 -32.84
11/30/2008 -48.54 -44.22 -37.66
12/31/2008 -47.04 -42.19 -37.00
1/31/2009 -50.05 -47.13 -42.31
2/28/2009 -57.57 -52.31 -48.45
3/31/2009 -52.87 -48.38 -43.94
4/30/2009 -39.56 -42.29 -38.57
5/31/2009 -33.93 -36.54 -35.13
6/30/2009 -33.32 -36.89 -35.00
7/31/2009 -26.12 -31.34 -30.09
8/31/2009 -20.37 -28.88 -27.56
9/30/2009 -12.21 -25.62 -24.86
10/31/2009 -17.44 -26.77 -26.26
11/30/2009 -13.46 -23.76 -21.83
12/31/2009 -7.94 -22.18 -20.32
1/31/2010 -11.18 -25.54 -23.19
2/28/2010 -5.31 -24.59 -20.81
3/31/2010 2.15 -19.74 -16.03
4/30/2010 6.08 -19.61 -14.71
5/31/2010 -4.50 -27.23 -21.52
6/30/2010 -10.25 -29.47 -25.63
7/31/2010 0.57 -23.73 -20.42
8/31/2010 -5.92 -26.40 -24.01
9/30/2010 3.60 -19.36 -17.23
10/31/2010 8.43 -16.44 -14.08
11/30/2010 7.29 -18.30 -14.07
12/31/2010 15.60 -12.32 -8.32
1/31/2011 18.84 -10.94 -6.15
2/28/2011 23.17 -8.35 -2.93
3/31/2011 24.31 -8.44 -2.90
4/30/2011 28.04 -4.70 -0.02
5/31/2011 25.97 -6.74 -1.15
6/30/2011 23.13 -8.21 -2.80
7/31/2011 17.10 -9.71 -4.78
8/31/2011 10.82 -16.30 -9.95
9/30/2011 -0.20 -24.21 -16.28
10/31/2011 10.90 -16.09 -7.13
11/30/2011 6.52 -18.60 -7.33
12/31/2011 6.42 -18.76 -6.39
1/31/2012 13.79 -14.04 -2.19
2/29/2012 20.42 -9.71 2.04
3/31/2012 22.21 -9.11 5.40
4/30/2012 18.87 -10.15 4.73
5/31/2012 3.57 -18.21 -1.56
6/30/2012 8.94 -14.17 2.50
7/31/2012 9.67 -12.99 3.92
8/31/2012 15.54 -11.10 6.26
9/30/2012 21.60 -8.30 9.01
10/31/2012 21.24 -8.91 6.99
11/30/2012 22.38 -7.75 7.61
12/31/2012 27.22 -5.66 8.59
1/31/2013 36.87 -1.31 14.22
2/28/2013 37.07 -1.33 15.77
3/31/2013 40.04 0.48 20.11
4/30/2013 44.44 3.35 22.43
5/31/2013 49.81 3.06 25.29
6/30/2013 47.17 0.05 23.61
7/31/2013 58.32 4.84 29.90
8/31/2013 56.41 2.66 26.13
9/30/2013 67.64 7.96 30.09
10/31/2013 72.94 12.30 36.07
11/30/2013 75.26 13.89 40.22
12/31/2013 81.39 15.85 43.77
1/31/2014 71.16 11.22 38.80
2/28/2014 79.64 16.59 45.14
3/31/2014 77.31 17.11 46.36
4/30/2014 71.28 18.22 47.45
5/31/2014 75.77 20.74 50.91
6/30/2014 77.60 23.01 54.03
7/31/2014 68.96 21.52 51.90
8/31/2014 74.26 24.20 57.98
9/30/2014 66.06 20.18 55.76
10/31/2014 68.39 21.02 59.57
11/30/2014 74.26 23.05 63.86
12/31/2014 72.68 20.67 63.45
1/31/2015 64.46 18.79 58.54
2/28/2015 77.28 25.40 67.65
3/31/2015 75.12 23.46 65.00
4/30/2015 78.03 27.04 66.58
5/31/2015 81.43 26.87 68.72
6/30/2015 76.29 23.89 65.46
7/31/2015 80.10 24.96 68.92
8/31/2015 62.72 16.40 58.73
9/30/2015 58.20 12.18 54.81
10/31/2015 74.17 20.98 67.86
11/30/2015 75.58 19.98 68.36
12/31/2015 71.56 17.82 65.71
1/31/2016 54.79 10.71 57.48
2/29/2016 52.22 9.95 57.27
3/31/2016 63.26 18.10 67.94
4/30/2016 62.84 19.84 68.59
5/31/2016 66.33 20.00 71.62
6/30/2016 58.74 19.27 72.06
7/31/2016 69.44 24.41 78.41
8/31/2016 71.22 24.83 78.66
9/30/2016 73.59 25.59 78.69
10/31/2016 66.83 23.46 75.43
11/30/2016 69.03 24.40 81.93
12/31/2016 70.15 27.09 85.53
1/31/2017 77.53 30.56 89.04
2/28/2017 83.75 34.22 96.55
3/31/2017 83.75 35.87 96.78
4/30/2017 89.73 37.98 98.80
5/31/2017 94.96 41.03 101.60
6/30/2017 98.48 41.67 102.86
7/31/2017 108.40 45.63 107.03
8/31/2017 108.98 46.19 107.66
9/30/2017 110.97 49.01 111.95
10/31/2017 112.13 52.11 116.89
11/30/2017 113.04 55.05 123.54
12/31/2017 112.82 57.55 0.00

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 01/17/2018

Date 2013 2014 2015 2016 2017
Short Term 0.2156 0.7139
Long Term 0.5300 0.2136
Total Amount of Distribution 0.7455 0.9274
Record Date 12/3/14 12/6/17
Ex Div Date 12/4/14 12/7/17
Pay Date 12/4/14 12/7/17

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Issuers

(66.9% of assets as of 12/31/2017)


Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector
Industry
Asset Allocation
Market Cap 5
Country Global Value Fund MSCI ACWI Overweight / Underweight
United States 63.2% 52.2% 11.0%
China 9.3% 3.5% 5.8%
Denmark 6.2% 0.6% 5.6%
Japan 4.5% 7.9% -3.4%
Germany 4.5% 3.2% 1.3%
France 3.7% 3.5% 0.2%
United Kingdom 2.4% 5.9% -3.5%
Switzerland 2.1% 2.6% -0.6%
Sweden 1.9% 0.9% 1.0%
Developed Markets Global Value Fund MSCI ACWI Overweight / Underweight
Americas 63.2% 55.3% 7.9%
Europe 20.8% 20.9% -0.2%
Asia Pacific 4.5% 11.8% -7.3%
Emerging Markets Global Value Fund MSCI ACWI Overweight / Underweight
Asia Pacific 9.3% 8.6% 0.7%
Equity Sector Global Value Fund MSCI ACWI Overweight / Underweight
Information Technology 29.0% 18.1% 10.9%
Health Care 20.3% 10.7% 9.6%
Consumer Discretionary 19.7% 12.0% 7.7%
Financials 17.5% 18.7% -1.3%
Industrials 5.7% 10.9% -5.2%
Materials 3.7% 5.5% -1.8%
Telecommunication Services 1.4% 3.0% -1.6%
Real Estate 0.6% 3.1% -2.4%
Industry Global Value Fund MSCI ACWI Overweight / Underweight
Media 14.0% 2.2% 11.8%
Internet Software & Services 12.7% 4.0% 8.6%
Software 9.5% 3.4% 6.2%
Capital Markets 6.5% 2.7% 3.7%
IT Services 6.4% 2.7% 3.7%
Banks 6.2% 10.3% -4.1%
Pharmaceuticals 6.0% 4.9% 1.1%
Health Care Equipment & Supplies 5.7% 1.8% 3.8%
Internet & Direct Marketing Retail 5.7% 1.6% 4.0%
Professional Services 4.9% 0.6% 4.3%
Biotechnology 4.5% 1.8% 2.7%
Chemicals 3.7% 2.8% 0.9%
Insurance 3.1% 4.0% -0.8%
Life Sciences Tools & Services 2.6% 0.5% 2.2%
Diversified Financial Services 1.6% 1.0% 0.5%
Health Care Technology 1.5% 0.1% 1.4%
Diversified Telecommunication Services 1.4% 2.0% -0.6%
Machinery 0.8% 2.0% -1.2%
Real Estate Management & Development 0.6% 1.0% -0.3%
Technology Hardware Storage & Peripherals 0.3% 3.1% -2.7%
Asset Allocation Global Value Fund MSCI ACWI Overweight / Underweight
Equity 97.8% 100.0% -2.2%
Market Cap Global Value Fund MSCI ACWI Overweight / Underweight
Large 64.6% 87.9% -23.3%
Small 19.4% 0.1% 19.3%
Mid 13.8% 12.1% 1.8%
Analytics
(As of 12/31/2017)

Morningstar 12/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
720
Category
World Large Stock
Performance Statistics
3Y
5Y
Alpha
-4.00
-2.37
Beta
1.28
1.27
Information Ratio
-0.33
0.01
R-Squared
85.71
82.36
Sharpe Ratio
0.52
0.79
Standard Deviation
14.55
13.92
Upside Capture
114.89
114.67
Downside Capture
148.03
130.42
Sortino Ratio
0.23
0.37
Tracking Error
6.25
6.44
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/7/2017
Per Share ($)
$0.0000
12-Month Distribution ($)
$0.0000
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$100.10 B
$129.00 B
Median Market Cap (weighted)
$29.60 B
$53.60 B
P/E Ratio (LTM)
40.40
20.00
P/E Ratio (NTM)
24.56
16.53
Price/Book
2.98
2.38
Debt to Capital Ratio
38.70
44.15
Turnover Ratio
59.00%
-
Distribution Sources
  • D
Net Income
0.00%
Net Profit from Sale
100.00%
Other Capital Sources
0.00%
Documents
  1. 1. Special Risks: Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. Eurozone investments may be subject to volatility and liquidity issues. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a mid-sized company, if any gain is realized at all. Diversification does not guarantee profit or protect against loss.
  2. 2. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
  3. 3. Access index definitions.
  4. 4. Holdings are subject to change, and are dollar weighted based on total net assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the fund's net asset value and fluctuations of dividends and distributions paid by the fund.
  5. 5. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund’s prospectus.
  6. A. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
  7. B. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.
  8. C. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund). These returns would be lower if sales charges were taken into consideration. Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
  9. D. There is no guarantee of the payment of any dividend or other distributions at any level.
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