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QGRIX

Global Allocation Fund

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Overview

The strategy seeks to achieve attractive total returns without taking undue risk by dynamically allocating across a variety of asset classes with a short-to-medium term horizon.

Inception Date
February 28, 2012
Investment Style
Global Allocation
Fund Index
60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg
CUSIP
68380E775
NAV
  • B
(as of 05/24/2019)
$17.38
Total Assets
(as of 04/30/2019)
$1.40 BN
Gross Expense Ratio
(as of 04/30/2019)
0.93%
Net Expense Ratio
(as of 04/30/2019)
0.87%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 04/30/2019
  • C
as of 03/31/2019
  • C

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
3 mo ytd as of 2019-03-31
  • D
1 yr 3 yr 5 yr since inception
Global Allocation Fund (NAV)
7.83% 7.83% -1.51% 5.52% 3.64% 5.42%
60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg
8.45% 8.45% 3.72% 7.61% 4.79% -
Cumulative
Annualized
3 mo ytd as of 2019-04-30
  • D
1 yr 3 yr 5 yr since inception
Global Allocation Fund (NAV)
3.81% 9.12% 0.04% 5.72% 4.06% 5.53%
60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg
5.27% 10.67% 5.38% 8.00% 5.00% -
Gross Expense Ratio: 0.93% | Net Expense Ratio: 0.87%

The performance data quoted represents past performance, which does not guarantee future results.  The investments 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 and reinvested distributions.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Year Global Allocation Fund 60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg
2013 18.33% 12.87%
2014 0.59% 3.36%
2015 0.79% -1.70%
2016 5.24% 6.52%
2017 15.28% 15.19%
2018 -9.35% -4.91%

The performance data quoted represents past performance, which does not guarantee future results.  The investments 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 and reinvested distributions.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Date Global Allocation Fund 60% MSCI ACWI/40% Bloomberg Barclays Global Aggregate Bond Index Hedged USD BBG Barclays Agg S&P 500
4/30/2014 0.00 0.00 0.00 0.00
5/31/2014 1.16 1.54 1.14 2.35
6/30/2014 2.16 3.00 1.19 4.46
7/31/2014 0.07 1.87 0.94 3.02
8/31/2014 2.39 3.56 2.05 7.14
9/30/2014 -0.07 0.48 1.36 5.64
10/31/2014 1.21 1.02 2.35 8.22
11/30/2014 2.19 1.95 3.08 11.13
12/31/2014 0.87 0.57 3.18 10.85
1/31/2015 0.58 -0.24 5.34 7.52
2/28/2015 4.45 2.72 4.35 13.70
3/31/2015 4.54 1.52 4.83 11.90
4/30/2015 5.66 3.64 4.46 12.98
5/31/2015 7.18 2.90 4.21 14.43
6/30/2015 6.00 1.27 3.07 12.22
7/31/2015 6.48 1.92 3.79 14.57
8/31/2015 1.16 -2.19 3.64 7.65
9/30/2015 -0.79 -4.09 4.34 4.99
10/31/2015 3.95 0.50 4.36 13.85
11/30/2015 3.71 0.03 4.08 14.19
12/31/2015 1.67 -1.14 3.74 12.38
1/31/2016 -1.20 -4.17 5.17 6.81
2/29/2016 -1.56 -4.17 5.92 6.66
3/31/2016 2.61 0.38 6.89 13.90
4/30/2016 3.27 1.34 7.30 14.34
5/31/2016 3.09 1.60 7.33 16.39
6/30/2016 4.58 2.07 9.26 16.70
7/31/2016 7.48 4.94 9.95 21.00
8/31/2016 7.66 5.14 9.82 21.17
9/30/2016 8.76 5.53 9.76 21.19
10/31/2016 7.25 4.05 8.92 18.98
11/30/2016 5.56 3.84 6.34 23.39
12/31/2016 6.99 5.30 6.49 25.83
1/31/2017 9.11 6.87 6.70 28.21
2/28/2017 11.41 9.03 7.42 33.30
3/31/2017 12.84 9.81 7.36 33.46
4/30/2017 14.95 11.14 8.19 34.83
5/31/2017 17.57 12.88 9.02 36.73
6/30/2017 17.62 13.06 8.91 37.58
7/31/2017 19.37 15.10 9.38 40.41
8/31/2017 20.30 15.79 10.36 40.84
9/30/2017 20.49 16.92 9.84 43.74
10/31/2017 21.55 18.57 9.90 47.10
11/30/2017 22.24 20.02 9.76 51.61
12/31/2017 23.34 21.29 10.26 53.30
1/31/2018 27.72 25.00 8.99 62.07
2/28/2018 23.72 21.75 7.96 56.10
3/31/2018 22.40 20.61 8.65 52.13
4/30/2018 21.97 21.13 7.84 52.72
5/31/2018 23.03 21.41 8.61 56.39
6/30/2018 22.03 21.12 8.48 57.36
7/31/2018 23.47 23.32 8.51 63.21
8/31/2018 23.65 24.06 9.20 68.53
9/30/2018 22.34 24.20 8.50 69.49
10/31/2018 15.77 18.48 7.64 57.90
11/30/2018 16.46 19.77 8.29 61.12
12/31/2018 11.80 15.34 10.28 46.57
1/31/2019 17.52 21.26 11.45 58.32
2/28/2019 18.90 23.26 11.38 63.40
3/31/2019 20.56 25.09 13.52 66.58
4/30/2019 22.01 27.65 13.55 73.32
Date Dividends
6/17/2014 0.0826
9/16/2014 0.0263
12/15/2014 0.1398
3/16/2015 0.0356
6/15/2015 0.0994
9/21/2015 0.0408
12/14/2015 0.2037
3/21/2016 0.0169
6/20/2016 0.0978
9/19/2016 0.0326
12/22/2016 0.5062
3/20/2017 0.0194
6/19/2017 0.0387
12/21/2017 0.0467
12/20/2018 0.4707

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 investments 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 and reinvested distributions.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 05/24/2019

Date 2014 2015 2016 2017 2018
Short Term 0.0147
Long Term 1.1539
Total Amount of Distribution 1.1686
Record Date 12/19/18
Ex Div Date 12/20/18
Pay Date 12/20/18

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

Portfolio

Top Holdings

(75.3% of assets as of 04/30/2019)


Portfolio Positioning

(86.8% of assets as of 04/30/2019)


US Equity International Fixed Income US Fixed Income International Equity Alternatives Emerging Equity Other FX Overlays
29.7% 28.3% 17.8% 11.5% 9.6% 5.8% 2.4% -18.3%

Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector
Fixed Income Sector
Country Global Allocation Fund 60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg Overweight / Underweight
United States 52.8% - -
Germany 9.6% - -
France 8.2% - -
Australia 5.6% - -
Supranational (non-iso) 5.3% - -
Sweden 4.3% - -
Japan 3.6% - -
China 3.1% - -
Spain 1.8% - -
Netherlands 1.6% - -
Switzerland 1.6% - -
Italy 1.5% - -
Brazil 1.3% - -
United Kingdom 1.1% - -
South Africa 1.1% - -
Mexico 1.0% - -
Taiwan 1.0% - -
Hong Kong 0.8% - -
Russia 0.6% - -
Poland 0.6% - -
Developed Markets Global Allocation Fund 60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg Overweight / Underweight
Americas 51.9% - -
Europe 10.9% - -
Asia Pacific 10.1% - -
Supranational 5.3% - -
Middle East 0.1% - -
Emerging Markets Global Allocation Fund 60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg Overweight / Underweight
Asia Pacific 5.8% - -
Americas 2.3% - -
Europe 1.7% - -
Africa 1.1% - -
Middle East 0.1% - -
Multi -2.0% - -
Equity Sector Global Allocation Fund 60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg Overweight / Underweight
Information Technology 12.2% - -
Consumer Discretionary 10.6% - -
Industrials 8.8% - -
Health Care 6.5% - -
Consumer Staples 6.3% - -
Financials 6.2% - -
Communication Services 5.6% - -
Energy 4.7% - -
Materials 2.2% - -
Real Estate 0.9% - -
Utilities 0.3% - -
Broad Market -14.6% - -
Fixed Income Sector Global Allocation Fund 60% MSCI ACWI/40% BBG Barc Gbl Agg Hdg Overweight / Underweight
Treasuries 39.4% - -
Catastrophe 5.8% - -
Analytics
(As of 04/30/2019)

Morningstar 04/30/2019 (based on risk adjusted performance)
Overall Rating
Number of Funds
400
Category
World Allocation
Performance Statistics
3Y
5Y
Alpha
-2.60
-0.94
Beta
1.08
1.01
Information Ratio
-1.16
-0.42
R-Squared
92.33
90.31
Sharpe Ratio
0.65
0.47
Standard Deviation
6.83
7.27
Sortino Ratio
0.94
0.69
Tracking Error
1.96
2.27
Portfolio Characteristics
Fund
Fund Index
Current Duration
4.08 yrs
2.52 yrs
Turnover Ratio
151%
-
Dividends
  • E
Est. Frequency
Annual
Last Pay Date
12/20/2018
Per Share ($)
$0.4707
12-Month Distribution ($)
$0.4707
Distribution Sources
  • E
Net Income
14.20%
Net Profit from Sale
76.10%
Other Capital Sources
9.70%
Team
Documents
  1. 1. Because of changes to certain non-fundamental investment policies in connection with a change from a balanced strategy to a global allocation strategy, performance prior to 8/16/10 is not indicative of performance for any subsequent periods.
  2. 2. 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. Investments in securities of growth companies may be volatile. 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. Event-linked securities are fixed income securities, otherwise known as Cat Bonds, for which the return of principal and interest payment is contingent on the non-occurrence of a trigger event that leads to physical or economic loss. If the trigger event occurs prior to maturity, the Fund may lose all or a portion of its principal and additional interest. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Below-investment-grade (“high yield” or “junk”) bonds are more at risk of default and are subject to liquidity risk. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments.  Commodity-linked investments are speculative and have substantial risks, including the loss of principal. The Fund may also invest through a wholly-owned Cayman Islands subsidiary, which involves the risk that changes to the laws of the Cayman Islands could negatively affect the Fund. Diversification does not guarantee profit or protect against loss.
  3. 3. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million.  Class I shares are sold at net asset value without a sales charge.  Please see Fund prospectuses for additional information.
  4. 4. The Manager has contractually agreed to waive expenses in an amount equal to the management fee it receives from its Subsidiary for so long as the Fund invests in the Subsidiary. This waiver may not be terminated without the prior approval of the Fund's Board of Trustees.
  5. 5. 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.
  6. 6. If the benchmark is MSCI, the blended returns are calculated by Invesco using end of day index level values licensed from MSCI (“MSCI Data”). For the avoidance of doubt, MSCI is not the benchmark “administrator” for, or a “contributor”, “submitter” or “supervised contributor” to, the blended returns, and the MSCI Data is not considered a “contribution” or “submission” in relation to the blended returns, as those terms may be defined in any rules, laws, regulations, legislation or international standards. MSCI Data is provided “AS IS” without warranty or liability and no copying or distribution is permitted. MSCI does not make any representation regarding the advisability of any investment or strategy and does not sponsor, promote, issue, sell or otherwise recommend or endorse any investment or strategy, including any financial products or strategies based on, tracking or otherwise utilizing any MSCI Data, models, analytics or other materials or information.
  7. 7. The index returns are made up of the returns of (i) Composite Index representing 30% Russell 1000® Index/ 30% MSCI® ACWI ex-US/ 20% Bloomberg Barclays U.S. Aggregate Index/ 20% Bloomberg Barclays Multiverse ex US Index from January 1, 31, 2003 through September 30, 2015, and (ii) 60% MSCI® ACWI/ 40% Bloomberg Barclays Global Aggregate Bond Hedged USD from October 1, 2015 to present. The MSCI® ACWI is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. The Bloomberg Barclays Global Aggregate Bond Index provides a broad-based measure of global investment grade fixed-rate debt markets.  The index is comprised of several other Barclays indexes that measure fixed income performance of regions around the world while hedging the currency back to the US dollar. The indices are unmanaged, are shown for illustrative purposes only, and cannot be purchased directly by investors.  Past performance does not guarantee future results.
  8. 8. Holdings are subject to change, and are dollar weighted based on total new 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.
  9. A. The Morningstar Rating&trade; for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. <b>The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.</b> The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not consider sales charges and are subject to change monthly. <strong>Past performance is no guarantee of future results</strong></p>
  10. B. 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.
  11. C. The performance data quoted represents past performance, which does not guarantee future results.  The investments 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 and reinvested distributions.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
  12. D. "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.
  13. E. There is no guarantee of the payment of any dividend or other distributions at any level.
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