Spoof Access

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U.S. Flag United States
Individual Investor
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Emerging Markets Equity

The Strategy typically invests in smaller and mid-cap emerging and developing market stocks.
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Cumulative Total Returns

as of 9/30/17

Since Inception 6/30/14
7%
Performance & Distributions
×

Emerging Markets Equity

Gross Expense Ratio:
      1.77%
    Net Expense Ratio:   1.71%

    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.

    Cumulative Returns
    • A

    Compare to Indices

    Emerging Markets Innovators Fund
    VALUE of $10,000.00

    Calendar Year Returns % (w/o sales charge)
    Data as of 10/20/17
      2014 2015 2016 YTD
    • B
    Emerging Markets Innovators Fund -6.09 -1.20 33.29
    MSCI EM Mid Cap Index -13.21 4.84
    Capital Gains Distributions ($ per share)
    Data as of 10/22/17
      2012 2013 2014 2015 2016
    Short Term 0.0050
    Long Term
    Total Amount of Distribution 0.005
    Record Date 12/4/14
    Ex Div Date 12/5/14
    Pay Date 12/5/14

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

    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.

    Average Annual Total Returns
    • A

    as of 9/30/17

    as of 9/30/17

    • A
    YTD (as of 10/20/17)
    • B
    33.29%
    1 Year 18.69%
    3 Year 3.83%
    Since Inception 2.24%
    YTD (as of 10/20/17)
    • B
    33.29%
    1 Year 11.87%
    3 Year 1.80%
    Since Inception 0.39%
    YTD (as of 10/20/17)
    • B
    33.29%
    1 Year 18.69%
    3 Year 3.83%
    Since Inception 2.24%
    YTD (as of 10/20/17)
    • B
    33.29%
    1 Year 11.87%
    3 Year 1.80%
    Since Inception 0.39%
    Gross Expense Ratio
    1.77%
    Net Expense Ratio
    1.71%
    NAV
    • C
    as of 10/20/17
    $10.97

    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.

    Top Issuers

    09/30/17

    TAL Education Group
    3.5%
    My EG Services BHD
    2.6%
    Sunny Optical Technology
    2.6%
    Aac Technologies Holdings ,In...
    2.6%
    China Lodging Group
    2.2%
    Biocon Ltd.
    2.1%
    New Oriental Education ADR
    2.0%
    Medy-Tox, Inc.
    2.0%
    Largan Precision Co., Ltd.
    1.9%
    Hota Industrial Manufacturing...
    1.6%
    Celltrion, Inc.
    1.5%
    Capitec Bank Holdings Ltd.
    1.5%
    Brilliance China Automotive H...
    1.5%
    Smiles SA
    1.5%
    Kruk SA
    1.5%
    Bloomage Biotechnology
    1.4%
    Raia Drogasil SA
    1.4%
    Discovery Holdings Limited
    1.4%
    NCsoft Corp.
    1.4%
    eMemory Technology, Inc.
    1.4%
    ×
    • 3.5%
      TAL Education Group
    • Provides after-school tutoring services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY China
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Diversified Consumer Services
    MARKET CAP Large
    ×
    • 2.6%
      My EG Services BHD
    • Provides online e-Government services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Malaysia
    EQUITY SECTOR Information Technology
    INDUSTRY IT Services
    MARKET CAP Mid
    ×
    • 2.6%
      Sunny Optical Technology
    • Operates investment holding company, though its subsidiaries provides research & development, manufacturing, and selling of optical and optical-related products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY China
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    MARKET CAP Large
    ×
    • 2.6%
      Aac Technologies Holdings ,Inc.
    • Operates as a holding company with interest in the manufacture and distribution of miniature components
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY China
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    MARKET CAP Large
    ×
    • 2.2%
      China Lodging Group
    • Operates as an economy hotel chain
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY China
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Hotels Restaurants & Leisure
    MARKET CAP Large
    ×
    • 2.1%
      Biocon Ltd.
    • Develops and manufactures pharmaceuticals
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY India
    EQUITY SECTOR Health Care
    INDUSTRY Biotechnology
    MARKET CAP Large
    ×
    • 2.0%
      New Oriental Education ADR
    • Provides private educational services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY China
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Diversified Consumer Services
    MARKET CAP Large
    ×
    • 2.0%
      Medy-Tox, Inc.
    • Develops botulinum toxin-based injections
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY South Korea
    EQUITY SECTOR Health Care
    INDUSTRY Biotechnology
    MARKET CAP Mid
    ×
    • 1.9%
      Largan Precision Co., Ltd.
    • Designs, manufactures and sells optoelectronic components
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Taiwan
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    MARKET CAP Large
    ×
    • 1.6%
      Hota Industrial Manufacturing Co., Ltd.
    • Manufactures gears and axles for automobiles and locomotives
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Taiwan
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Auto Components
    MARKET CAP Mid
    ×
    • 1.5%
      Celltrion, Inc.
    • Develops biopharmaceutical products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY South Korea
    EQUITY SECTOR Health Care
    INDUSTRY Biotechnology
    MARKET CAP Large
    ×
    • 1.5%
      Capitec Bank Holdings Ltd.
    • Provides retail banking services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY South Africa
    EQUITY SECTOR Financials
    INDUSTRY Banks
    MARKET CAP Mid
    ×
    • 1.5%
      Brilliance China Automotive Hldgs Ltd.
    • Manufactures and distributes minibuses and automotive components in China
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY China
    EQUITY SECTOR Consumer Discretionary
    MARKET CAP Large
    ×
    • 1.5%
      Smiles SA
    • Develops and provides loyalty programs for airline industry
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Brazil
    EQUITY SECTOR Consumer Discretionary
    MARKET CAP Mid
    ×
    • 1.5%
      Kruk SA
    • Provides receivables and debt collection services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Poland
    EQUITY SECTOR Financials
    INDUSTRY Consumer Finance
    MARKET CAP Small
    ×
    • 1.4%
      Bloomage Biotechnology
    • Manufactures hyaluronic acid products.
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Hong Kong
    EQUITY SECTOR Materials
    INDUSTRY Chemicals
    MARKET CAP Small
    ×
    • 1.4%
      Raia Drogasil SA
    • Engages in the retail sale of medicine, perfumery, personal care and beauty products, cosmetics and dermocosmetics
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Brazil
    EQUITY SECTOR Consumer Staples
    INDUSTRY Food & Staples Retailing
    MARKET CAP Large
    ×
    • 1.4%
      Discovery Holdings Limited
    • Provides integrated financial services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY South Africa
    EQUITY SECTOR Financials
    MARKET CAP Mid
    ×
    • 1.4%
      NCsoft Corp.
    • Engages in the development and publishing of online and mobile games
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY South Korea
    EQUITY SECTOR Information Technology
    INDUSTRY Software
    MARKET CAP Large
    ×
    • 1.4%
      eMemory Technology, Inc.
    • Manufacture and sale of wafers and the provision of technology services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Taiwan
    EQUITY SECTOR Information Technology
    INDUSTRY Semiconductors & Semiconductor Equipment
    MARKET CAP Mid
    Holdings Breakdown

    as of 09/30/17

    20.7%

    China

    11.6%

    Taiwan

    9.1%

    India

    8.1%

    South Korea

    7.9%

    Brazil

    5.4%

    South Africa

    4.3%

    Hong Kong

    3.1%

    Malaysia

    2.6%

    Mexico

    No Issuer Equity
    in
    Mexico
    1.9%

    Argentina

    No Issuer Equity
    in
    Argentina
    1.9%

    United Kingdom

    No Issuer Equity
    in
    United Kingdom
    1.9%

    Thailand

    No Issuer Equity
    in
    Thailand
    1.8%

    Indonesia

    No Issuer Equity
    in
    Indonesia
    1.5%

    Poland

    1.3%

    Portugal

    No Issuer Equity
    in
    Portugal
    1.3%

    Philippines

    No Issuer Equity
    in
    Philippines
    1.1%

    Sri Lanka

    No Issuer Equity
    in
    Sri Lanka
    1.0%

    Hungary

    No Issuer Equity
    in
    Hungary
    1.0%

    Egypt

    No Issuer Equity
    in
    Egypt
    0.9%

    Russia

    No Issuer Equity
    in
    Russia
    Developed Markets 4
    Emerging Markets 4
    4.3%

    Asia Pacific

    No Issuer Equity
    in
    Asia Pacific
    3.8%

    Europe

    No Issuer Equity
    in
    Europe
    59.4%

    Asia Pacific

    No Issuer Equity
    in
    Asia Pacific
    13.6%

    Americas

    No Issuer Equity
    in
    Americas
    6.9%

    Africa

    No Issuer Equity
    in
    Africa
    4.7%

    Europe

    No Issuer Equity
    in
    Europe
    0.5%

    Middle East

    No Issuer Equity
    in
    Middle East
    26.9%

    Consumer Discretionary

    18.1%

    Information Technology

    14.2%

    Financials

    13.8%

    Health Care

    7.8%

    Consumer Staples

    7.1%

    Industrials

    No Issuer Equity
    in
    Industrials
    3.8%

    Materials

    1.5%

    Real Estate

    No Issuer Equity
    in
    Real Estate
    7.9%

    Diversified Consumer Services

    7.7%

    Banks

    7.6%

    Electronic Equipment Instruments & Components

    7.5%

    Biotechnology

    5.4%

    Hotels Restaurants & Leisure

    5.3%

    Food & Staples Retailing

    3.6%

    Software

    3.5%

    Health Care Providers & Services

    No Issuer Equity
    in
    Health Care Providers & Services
    3.4%

    Consumer Finance

    3.3%

    Auto Components

    3.0%

    Specialty Retail

    No Issuer Equity
    in
    Specialty Retail
    3.0%

    IT Services

    2.5%

    Textiles Apparel & Luxury Goods

    No Issuer Equity
    in
    Textiles Apparel & Luxury Goods
    2.2%

    Life Sciences Tools & Services

    No Issuer Equity
    in
    Life Sciences Tools & Services
    2.2%

    Semiconductors & Semiconductor Equipment

    2.2%

    Chemicals

    1.8%

    Machinery

    No Issuer Equity
    in
    Machinery
    1.8%

    Capital Markets

    No Issuer Equity
    in
    Capital Markets
    1.7%

    Construction Materials

    No Issuer Equity
    in
    Construction Materials
    1.6%

    Personal Products

    No Issuer Equity
    in
    Personal Products
    93.2%

    41.4%

    Mid

    39.9%

    Large

    12.0%

    Small

    Risk Measurements

    as of 09/30/17

    Alpha 1.78%
    Beta 0.73
    Information Ratio
    0.18
    R-Squared
    78.77
    Sharpe Ratio
    0.33
    Standard Deviation
    12.62%
    Sortino Ratio
    0.14
    Equity Style
    • D
    Total Assets (all classes)
    as of 9/30/17
    $350.1 MM
    Portfolio Statistics

    as of 9/30/17

    Avg Market Cap (weighted) 6.1 BN
    Median Market Cap (weighted) 3.1 BN
    P/E Ratio (NTM) 20.14
    P/E Ratio (LTM) 26.65
    Price/Book Value (LTM) 4.18
    Turnover Ratio
    26.00%
    Investment Minimums
    Initial
    $1,000
    Dividends ($ per share)
    • E
    Est Frequency Annual
    Last Pay Date 12/5/14
    Per Share ($) 0.0085
    Top Issuers

    09/30/17

    TAL Education G...
    3.5%
    My EG Services ...
    2.6%
    Sunny Optical T...
    2.6%
    Aac Technologie...
    2.6%
    China Lodging G...
    2.2%
    Biocon Ltd.
    2.1%
    New Oriental Ed...
    2.0%
    Medy-Tox, Inc.
    2.0%
    Largan Precisio...
    1.9%
    Hota Industrial...
    1.6%
    Celltrion, Inc....
    1.5%
    Capitec Bank Ho...
    1.5%
    Brilliance Chin...
    1.5%
    Smiles SA
    1.5%
    Kruk SA
    1.5%
    Bloomage Biotec...
    1.4%
    Raia Drogasil S...
    1.4%
    Discovery Holdi...
    1.4%
    NCsoft Corp.
    1.4%
    eMemory Technol...
    1.4%
    Holdings Breakdown

    as of 09/30/17

    Reset
    20.7%

    China

    11.6%

    Taiwan

    9.1%

    India

    8.1%

    South Korea

    7.9%

    Brazil

    5.4%

    South Africa

    4.3%

    Hong Kong

    3.1%

    Malaysia

    2.6%

    Mexico

    No Issuer Equity
    in
    Mexico
    1.9%

    Argentina

    No Issuer Equity
    in
    Argentina
    1.9%

    United Kingdom

    No Issuer Equity
    in
    United Kingdom
    1.9%

    Thailand

    No Issuer Equity
    in
    Thailand
    1.8%

    Indonesia

    No Issuer Equity
    in
    Indonesia
    1.5%

    Poland

    1.3%

    Portugal

    No Issuer Equity
    in
    Portugal
    1.3%

    Philippines

    No Issuer Equity
    in
    Philippines
    1.1%

    Sri Lanka

    No Issuer Equity
    in
    Sri Lanka
    1.0%

    Hungary

    No Issuer Equity
    in
    Hungary
    1.0%

    Egypt

    No Issuer Equity
    in
    Egypt
    0.9%

    Russia

    No Issuer Equity
    in
    Russia
    4.3%

    Asia Pacific

    No Issuer Equity
    in
    Asia Pacific
    3.8%

    Europe

    No Issuer Equity
    in
    Europe
    59.4%

    Asia Pacific

    No Issuer Equity
    in
    Asia Pacific
    13.6%

    Americas

    No Issuer Equity
    in
    Americas
    6.9%

    Africa

    No Issuer Equity
    in
    Africa
    4.7%

    Europe

    No Issuer Equity
    in
    Europe
    0.5%

    Middle East

    No Issuer Equity
    in
    Middle East
    26.9%

    Consumer Discretionary

    18.1%

    Information Technology

    14.2%

    Financials

    13.8%

    Health Care

    7.8%

    Consumer Staples

    7.1%

    Industrials

    No Issuer Equity
    in
    Industrials
    3.8%

    Materials

    1.5%

    Real Estate

    No Issuer Equity
    in
    Real Estate
    7.9%

    Diversified Consumer Services

    7.7%

    Banks

    7.6%

    Electronic Equipment Instruments & Components

    7.5%

    Biotechnology

    5.4%

    Hotels Restaurants & Leisure

    5.3%

    Food & Staples Retailing

    3.6%

    Software

    3.5%

    Health Care Providers & Services

    No Issuer Equity
    in
    Health Care Providers & Services
    3.4%

    Consumer Finance

    3.3%

    Auto Components

    3.0%

    Specialty Retail

    No Issuer Equity
    in
    Specialty Retail
    3.0%

    IT Services

    2.5%

    Textiles Apparel & Luxury Goods

    No Issuer Equity
    in
    Textiles Apparel & Luxury Goods
    2.2%

    Life Sciences Tools & Services

    No Issuer Equity
    in
    Life Sciences Tools & Services
    2.2%

    Semiconductors & Semiconductor Equipment

    2.2%

    Chemicals

    1.8%

    Machinery

    No Issuer Equity
    in
    Machinery
    1.8%

    Capital Markets

    No Issuer Equity
    in
    Capital Markets
    1.7%

    Construction Materials

    No Issuer Equity
    in
    Construction Materials
    1.6%

    Personal Products

    No Issuer Equity
    in
    Personal Products
    93.2%

    41.4%

    Mid

    39.9%

    Large

    12.0%

    Small

    ×
    • 3.5%
      TAL Education Group
    • Provides after-school tutoring services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY China
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Diversified Consumer Services
    MARKET CAP Large
    ×
    • 2.6%
      My EG Services BHD
    • Provides online e-Government services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Malaysia
    EQUITY SECTOR Information Technology
    INDUSTRY IT Services
    MARKET CAP Mid
    ×
    • 2.6%
      Sunny Optical Technology
    • Operates investment holding company, though its subsidiaries provides research & development, manufacturing, and selling of optical and optical-related products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY China
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    MARKET CAP Large
    ×
    • 2.6%
      Aac Technologies Holdings ,Inc.
    • Operates as a holding company with interest in the manufacture and distribution of miniature components
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY China
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    MARKET CAP Large
    ×
    • 2.2%
      China Lodging Group
    • Operates as an economy hotel chain
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY China
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Hotels Restaurants & Leisure
    MARKET CAP Large
    ×
    • 2.1%
      Biocon Ltd.
    • Develops and manufactures pharmaceuticals
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY India
    EQUITY SECTOR Health Care
    INDUSTRY Biotechnology
    MARKET CAP Large
    ×
    • 2.0%
      New Oriental Education ADR
    • Provides private educational services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY China
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Diversified Consumer Services
    MARKET CAP Large
    ×
    • 2.0%
      Medy-Tox, Inc.
    • Develops botulinum toxin-based injections
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY South Korea
    EQUITY SECTOR Health Care
    INDUSTRY Biotechnology
    MARKET CAP Mid
    ×
    • 1.9%
      Largan Precision Co., Ltd.
    • Designs, manufactures and sells optoelectronic components
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Taiwan
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    MARKET CAP Large
    ×
    • 1.6%
      Hota Industrial Manufacturing Co., Ltd.
    • Manufactures gears and axles for automobiles and locomotives
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Taiwan
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Auto Components
    MARKET CAP Mid
    ×
    • 1.5%
      Celltrion, Inc.
    • Develops biopharmaceutical products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY South Korea
    EQUITY SECTOR Health Care
    INDUSTRY Biotechnology
    MARKET CAP Large
    ×
    • 1.5%
      Capitec Bank Holdings Ltd.
    • Provides retail banking services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY South Africa
    EQUITY SECTOR Financials
    INDUSTRY Banks
    MARKET CAP Mid
    ×
    • 1.5%
      Brilliance China Automotive Hldgs Ltd.
    • Manufactures and distributes minibuses and automotive components in China
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY China
    EQUITY SECTOR Consumer Discretionary
    MARKET CAP Large
    ×
    • 1.5%
      Smiles SA
    • Develops and provides loyalty programs for airline industry
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Brazil
    EQUITY SECTOR Consumer Discretionary
    MARKET CAP Mid
    ×
    • 1.5%
      Kruk SA
    • Provides receivables and debt collection services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Poland
    EQUITY SECTOR Financials
    INDUSTRY Consumer Finance
    MARKET CAP Small
    ×
    • 1.4%
      Bloomage Biotechnology
    • Manufactures hyaluronic acid products.
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Hong Kong
    EQUITY SECTOR Materials
    INDUSTRY Chemicals
    MARKET CAP Small
    ×
    • 1.4%
      Raia Drogasil SA
    • Engages in the retail sale of medicine, perfumery, personal care and beauty products, cosmetics and dermocosmetics
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Brazil
    EQUITY SECTOR Consumer Staples
    INDUSTRY Food & Staples Retailing
    MARKET CAP Large
    ×
    • 1.4%
      Discovery Holdings Limited
    • Provides integrated financial services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY South Africa
    EQUITY SECTOR Financials
    MARKET CAP Mid
    ×
    • 1.4%
      NCsoft Corp.
    • Engages in the development and publishing of online and mobile games
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY South Korea
    EQUITY SECTOR Information Technology
    INDUSTRY Software
    MARKET CAP Large
    ×
    • 1.4%
      eMemory Technology, Inc.
    • Manufacture and sale of wafers and the provision of technology services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Taiwan
    EQUITY SECTOR Information Technology
    INDUSTRY Semiconductors & Semiconductor Equipment
    MARKET CAP Mid

    Management

    Heidi Heikenfeld, CFA

    Managed Fund since 6/14

    Justin Leverenz, CFA

    Managed Fund since 6/14

    Investment Approach

    The investment team uses a bottom-up fundamental investment approach and seeks to invest over a three-to five-year time horizon. The investment approach is benchmark agnostic, with both sector and geographic allocation being the by-product of the companies in which we invest. Our structural growth themes provide a framework for understanding what we believe will be driving forces of equity growth and help guide stock selection. While themes are unchanging, the sub-themes and industries are constantly evolving. Current sub-themes for Innovation include: drug development, K-12 education, focus on women, advanced technologies, healthy living, broader financial participation and water purification. Our detailed company analysis looks to identify durability, competitive advantage, growth, balance sheet strength and innovation.

    Risk Management

    Our team limits exposure to individual companies, industries and sectors, seeking to limit volatility through company quality and diversification. Risk Management Overview

    We conduct rigorous fundamental research to identify individual companies with asymmetrical risk/return opportunities. Risk Management Overview

    At the portfolio level, our experienced investment personnel closely monitor the strategy's positioning, and the active risk resulting from our security selection process and sector allocations. We evaluate factor and style exposure, as well as the ownership and liquidity profile of each security in the portfolio. Risk Management Overview

    Our team proactively manages risk by constructing diversified portfolios across sectors, industry groups and securities. We manage, monitor and limit sector weights relative to specified benchmarks and security position sizes within each portfolio. Risk Management Overview

    Our team closely monitors position size and sector weights; we have limits on active security weights against the benchmark for each strategy we manage. Risk Management Overview

    Risk is managed at the portfolio, strategy and security levels to identify diversified sources of alpha. We mainly focus on currency, interest rates and credit. Positions are sized and monitored according to established limits. Risk Management Overview

    We focus primarily on senior loans in an effort to maintain product integrity and limit duration risk. Risk Management Overview

    The team manages risk at both a strategy and individual security level to help ensure that, when combined, they act as the ballast in an investor’s overall portfolio. Risk Management Overview

    Risk is managed at the portfolio, strategy and security levels to identify diversified sources of alpha. We seek to identify primary and secondary risks of each investment. Diversification of sectors can potentially reduce volatility. Risk Management Overview

    The team manages risk by administering duration limits, limiting portfolio weighted average maturity and conducting thorough credit analysis on individual securities. Risk Management Overview

    The Rochester team has created diverse portfolios designed to mitigate the types of risks that municipal bond investors may encounter. Risk Management Overview

    The Commodities team manages risk on multiple levels, including individual commodity sector levels and overall fund level. Risk Management Overview

    The Real Estate team monitors and manages risk at the security, sector and strategy levels. Risk Management Overview

    The Global Multi-Asset Group monitors and manages risk on an ongoing basis, both at the asset class and portfolio levels. Risk Management Overview

    We emphasize capital preservation by avoiding companies that may cut distributions. We seek to build diversified portfolios comprised of energy and energy related companies with attractive risk-adjusted total return potential. Risk Management Overview

    The Alternative Strategies team evaluates risk on multiple levels, applying numerous risk analysis methods on an ongoing basis in addition to assessing risk impacts of a position prior to making investment decisions. Risk Management Overview

    Risk is monitored by quantitative risk system and managed at many levels – stock, sector, country, and style factors. We seek to diversify the portfolio across the global listed infrastructure market and adhere to an established risk framework, including constraints imposed by position limits versus a benchmark. Risk Management Overview

    We monitor and manage both security and sector weights to the underlying index to ensure that the portfolio is properly tracking its benchmark. Also, partnering with well-known index providers ensures that we hold only high quality securities that pass very stringent profitability and liquidity screens. Risk Management Overview

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    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. These risks are magnified in frontier markets. Investing significantly in a particular region, industry, sector or issuer may increase volatility and risk. Small and 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 small-sized or mid-sized company, if any gain is realized at all. Investments in securities of growth companies may be volatile.
    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. 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.
    7. B. "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.
    8. C. 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.
    9. D. OppenheimerFunds' equity style box is based on the portfolio's overall targeted capitalization range and relative valuation as determined by OFI.
    10. E. There is no guarantee of the payment of any dividend or other distributions at any level.
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