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International Equity

The Strategy typically invests in a mix of foreign growth stocks.
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International Growth Fund

IGRWX

The Strategy typically invests in a mix of foreign growth stocks.

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Cumulative Total Returns

as of 7/31/17

Since Inception 3/25/96
415%
Performance & Distributions
×

International Equity

Gross Expense Ratio:
      1.89%
    Net Expense Ratio:   1.89%

    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 and reinvested distributions and contingent deferred sales charges (CDSC) for years 1-6 of 5%, 4%, 3%, 3%, 2% and 1%, respectively, where with sales charge is indicated. Class B shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.

    Cumulative Returns
    • B

    Compare to Indices

    International Growth Fund
    VALUE of $10,000.00

    Calendar Year Returns % (w/o sales charge)
    Data as of 8/18/17
      1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD
    • C
    International Growth Fund 21.95 5.59 59.15 -10.29 -23.96 -27.32 52.13 15.51 13.21 28.54 11.51 -41.98 36.70 13.83 -8.49 20.66 24.18 -7.93 2.40 -3.03 16.74
    MSCI AC World ex USA -19.73 -14.95 40.83 20.91 16.62 26.65 16.65 -45.53 41.45 11.15 -13.71 16.83 15.29 -3.87 -5.66 4.50

    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 and reinvested distributions and contingent deferred sales charges (CDSC) for years 1-6 of 5%, 4%, 3%, 3%, 2% and 1%, respectively, where with sales charge is indicated. Class B shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.

    Average Annual Total Returns
    • B

    as of 7/31/17

    as of 6/30/17

    • B
    YTD (as of 8/18/17)
    • C
    16.74%
    1 Year 11.89%
    3 Year 3.37%
    5 Year 8.68%
    10 Year 3.39%
    Since Inception 7.98%
    YTD (as of 8/18/17)
    • C
    16.74%
    1 Year 6.89%
    3 Year 2.43%
    5 Year 8.39%
    10 Year 3.39%
    Since Inception 7.98%
    YTD (as of 8/18/17)
    • C
    16.74%
    1 Year 15.06%
    3 Year 1.10%
    5 Year 8.41%
    10 Year 3.05%
    Since Inception 7.89%
    YTD (as of 8/18/17)
    • C
    16.74%
    1 Year 10.06%
    3 Year 0.11%
    5 Year 8.12%
    10 Year 3.05%
    Since Inception 7.89%
    Gross Expense Ratio
    1.89%
    NAV
    • D
    as of 8/18/17
    $39.19

    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 and reinvested distributions and contingent deferred sales charges (CDSC) for years 1-6 of 5%, 4%, 3%, 3%, 2% and 1%, respectively, where with sales charge is indicated. Class B shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.

    Top Issuers

    07/31/17

    Infineon Technologies AG
    2.3%
    SAP SE
    2.1%
    Nippon Telegraph & Telephone
    1.9%
    Valeo SA
    1.8%
    Carnival Corp.
    1.6%
    Hero MotoCorp Ltd.
    1.6%
    Lonza Group AG
    1.6%
    Temenos Group AG
    1.6%
    Continental AG
    1.6%
    Keyence Corp.
    1.6%
    Atos Origin S.A.
    1.5%
    Nidec Corp.
    1.4%
    Grifols SA
    1.4%
    SEB S.A.
    1.4%
    Heineken NV
    1.4%
    Aalberts Industries NV
    1.4%
    Reckitt Benckiser Group plc
    1.3%
    CCL Industries, Inc.
    1.3%
    Dollarama, Inc.
    1.3%
    STMicroelectronics NV
    1.3%
    ×
    • 2.3%
      Infineon Technologies AG
    • Engaged in designing, developing, manufacturing, and marketing semiconductors and its related products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Germany
    EQUITY SECTOR Information Technology
    INDUSTRY Semiconductors & Semiconductor Equipment
    MARKET CAP Large
    ×
    • 2.1%
      SAP SE
    • Provides e-business software solutions
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Germany
    EQUITY SECTOR Information Technology
    INDUSTRY Software
    MARKET CAP Large
    ×
    • 1.9%
      Nippon Telegraph & Telephone
    • Operates as a holding company which interests in wired and wireless telecommunication services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Japan
    EQUITY SECTOR Telecommunication Services
    INDUSTRY Diversified Telecommunication Services
    MARKET CAP Large
    ×
    • 1.8%
      Valeo SA
    • Engages in the designing, production and marketing of automotive equipment
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY France
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Auto Components
    MARKET CAP Large
    ×
    • 1.6%
      Carnival Corp.
    • Operates luxury cruises ships
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Hotels Restaurants & Leisure
    MARKET CAP Large
    ×
    • 1.6%
      Hero MotoCorp Ltd.
    • Operates as a two wheeler manufacturing company
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY India
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Automobiles
    MARKET CAP Large
    ×
    • 1.6%
      Lonza Group AG
    • Engages in the supply of pharmaceutical, healthcare, and life science products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Switzerland
    EQUITY SECTOR Health Care
    MARKET CAP Large
    ×
    • 1.6%
      Temenos Group AG
    • Provides banking software systems to retail, corporate, universal, private, Islamic, microfinance and community banks, wealth managers, and financial institutions
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Switzerland
    EQUITY SECTOR Information Technology
    INDUSTRY Software
    MARKET CAP Mid
    ×
    • 1.6%
      Continental AG
    • Manufactures motor vehicle accessories and rubber products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Germany
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Auto Components
    MARKET CAP Large
    ×
    • 1.6%
      Keyence Corp.
    • Manufactures and sells sensors and measuring instruments
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Japan
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    MARKET CAP Large
    ×
    • 1.5%
      Atos Origin S.A.
    • Provides information technology and consulting services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY France
    EQUITY SECTOR Information Technology
    INDUSTRY IT Services
    MARKET CAP Large
    ×
    • 1.4%
      Nidec Corp.
    • Manufactures small-scale spindle motors for hard disk drives and other electronic devices
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Japan
    EQUITY SECTOR Industrials
    INDUSTRY Electrical Equipment
    MARKET CAP Large
    ×
    • 1.4%
      Grifols SA
    • Manufactures plasma-derived biological medicines
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Spain
    EQUITY SECTOR Health Care
    INDUSTRY Biotechnology
    MARKET CAP Large
    ×
    • 1.4%
      SEB S.A.
    • Engages in the manufacturing of small domestic equipment and cookware
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY France
    EQUITY SECTOR Consumer Discretionary
    MARKET CAP Large
    ×
    • 1.4%
      Heineken NV
    • Produces and distributes beer and non-alcoholic beverages
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Netherlands
    EQUITY SECTOR Consumer Staples
    INDUSTRY Beverages
    MARKET CAP Large
    ×
    • 1.4%
      Aalberts Industries NV
    • Engages in the development of industrial products and systems
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Netherlands
    EQUITY SECTOR Industrials
    INDUSTRY Machinery
    MARKET CAP Mid
    ×
    • 1.3%
      Reckitt Benckiser Group plc
    • Manufactures and markets household cleaning, health and personal care products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United Kingdom
    EQUITY SECTOR Consumer Staples
    MARKET CAP Large
    ×
    • 1.3%
      CCL Industries, Inc.
    • Provides packaging and labeling services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Canada
    EQUITY SECTOR Materials
    MARKET CAP Large
    ×
    • 1.3%
      Dollarama, Inc.
    • Offers a broad range of consumer products and general merchandise for everyday use
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Canada
    EQUITY SECTOR Consumer Discretionary
    MARKET CAP Large
    ×
    • 1.3%
      STMicroelectronics NV
    • Designs, develops, manufactures and markets a broad range of semiconductor integrated circuits and discrete devices
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY France
    EQUITY SECTOR Information Technology
    INDUSTRY Semiconductors & Semiconductor Equipment
    MARKET CAP Large
    Holdings Breakdown

    as of 07/31/17

    18.1%

    France

    16.1%

    United Kingdom

    11.0%

    Germany

    9.6%

    Switzerland

    9.0%

    Japan

    6.0%

    Netherlands

    5.5%

    Spain

    4.6%

    Canada

    4.5%

    Denmark

    No Issuer Equity
    in
    Denmark
    2.6%

    India

    2.5%

    Australia

    No Issuer Equity
    in
    Australia
    2.0%

    Sweden

    No Issuer Equity
    in
    Sweden
    1.6%

    United States

    1.1%

    Finland

    No Issuer Equity
    in
    Finland
    0.9%

    Thailand

    No Issuer Equity
    in
    Thailand
    0.7%

    Belgium

    No Issuer Equity
    in
    Belgium
    0.7%

    South Africa

    No Issuer Equity
    in
    South Africa
    0.5%

    China

    No Issuer Equity
    in
    China
    Developed Markets 4
    Emerging Markets 4
    74.6%

    Europe

    No Issuer Equity
    in
    Europe
    11.6%

    Asia Pacific

    No Issuer Equity
    in
    Asia Pacific
    6.2%

    Americas

    No Issuer Equity
    in
    Americas
    4.0%

    Asia Pacific

    No Issuer Equity
    in
    Asia Pacific
    0.7%

    Africa

    No Issuer Equity
    in
    Africa
    23.0%

    Consumer Discretionary

    18.1%

    Information Technology

    17.1%

    Industrials

    12.8%

    Health Care

    10.6%

    Consumer Staples

    5.0%

    Telecommunication Services

    4.8%

    Materials

    4.2%

    Financials

    No Issuer Equity
    in
    Financials
    1.4%

    Energy

    No Issuer Equity
    in
    Energy
    5.4%

    Textiles Apparel & Luxury Goods

    No Issuer Equity
    in
    Textiles Apparel & Luxury Goods
    5.3%

    Software

    4.8%

    Semiconductors & Semiconductor Equipment

    4.5%

    Diversified Telecommunication Services

    4.5%

    Auto Components

    4.5%

    Health Care Equipment & Supplies

    No Issuer Equity
    in
    Health Care Equipment & Supplies
    3.7%

    Machinery

    3.7%

    Trading Companies & Distributors

    No Issuer Equity
    in
    Trading Companies & Distributors
    3.6%

    Automobiles

    3.6%

    Pharmaceuticals

    No Issuer Equity
    in
    Pharmaceuticals
    3.1%

    Beverages

    3.0%

    Commercial Services & Supplies

    No Issuer Equity
    in
    Commercial Services & Supplies
    3.0%

    Hotels Restaurants & Leisure

    2.8%

    IT Services

    2.7%

    Chemicals

    No Issuer Equity
    in
    Chemicals
    2.6%

    Biotechnology

    2.5%

    Electrical Equipment

    2.5%

    Food & Staples Retailing

    No Issuer Equity
    in
    Food & Staples Retailing
    2.2%

    Media

    No Issuer Equity
    in
    Media
    2.2%

    Electronic Equipment Instruments & Components

    97.2%

    77.9%

    Large

    18.2%

    Mid

    1.1%

    Small

    No Issuer Equity
    in
    Small
    Morningstar

    as of 7/31/17

    (based on risk adjusted performance)

    Overall Rating
    Number of Funds 322
    Category Foreign Large Growth
    Risk Measurements

    as of 07/31/17

    Alpha 1.23%
    Beta 0.90
    R-Squared
    85.51
    Sharpe Ratio
    0.31
    Standard Deviation
    12.19%
    Sortino Ratio
    0.14
    Information Ratio
    0.21
    Equity Style
    • E
    Total Assets (all classes)
    as of 7/31/17
    $26.3 BN
    Morningstar Analyst Rating

    as of 6/28/2017

    Bronze
    Portfolio Statistics

    as of 7/31/17

    Avg Market Cap (weighted) 33.4 BN
    Median Market Cap (weighted) 16.5 BN
    P/E (next 12 months) 18.14
    P/E Operating (LTM) 22.77
    Price/Book Value (LTM) 3.39
    Turnover Ratio
    9.00%
    Investment Minimums
    Initial
    $1,000
    Dividends ($ per share)
    • F
    Est Frequency Annual
    Last Pay Date 12/18/12
    Per Share ($) 0.0630
    Top Issuers

    07/31/17

    Infineon Techno...
    2.3%
    SAP SE
    2.1%
    Nippon Telegrap...
    1.9%
    Valeo SA
    1.8%
    Carnival Corp.
    1.6%
    Hero MotoCorp L...
    1.6%
    Lonza Group AG
    1.6%
    Temenos Group A...
    1.6%
    Continental AG
    1.6%
    Keyence Corp.
    1.6%
    Atos Origin S.A...
    1.5%
    Nidec Corp.
    1.4%
    Grifols SA
    1.4%
    SEB S.A.
    1.4%
    Heineken NV
    1.4%
    Aalberts Indust...
    1.4%
    Reckitt Benckis...
    1.3%
    CCL Industries,...
    1.3%
    Dollarama, Inc....
    1.3%
    STMicroelectron...
    1.3%
    Holdings Breakdown

    as of 07/31/17

    Reset
    18.1%

    France

    16.1%

    United Kingdom

    11.0%

    Germany

    9.6%

    Switzerland

    9.0%

    Japan

    6.0%

    Netherlands

    5.5%

    Spain

    4.6%

    Canada

    4.5%

    Denmark

    No Issuer Equity
    in
    Denmark
    2.6%

    India

    2.5%

    Australia

    No Issuer Equity
    in
    Australia
    2.0%

    Sweden

    No Issuer Equity
    in
    Sweden
    1.6%

    United States

    1.1%

    Finland

    No Issuer Equity
    in
    Finland
    0.9%

    Thailand

    No Issuer Equity
    in
    Thailand
    0.7%

    Belgium

    No Issuer Equity
    in
    Belgium
    0.7%

    South Africa

    No Issuer Equity
    in
    South Africa
    0.5%

    China

    No Issuer Equity
    in
    China
    74.6%

    Europe

    No Issuer Equity
    in
    Europe
    11.6%

    Asia Pacific

    No Issuer Equity
    in
    Asia Pacific
    6.2%

    Americas

    No Issuer Equity
    in
    Americas
    4.0%

    Asia Pacific

    No Issuer Equity
    in
    Asia Pacific
    0.7%

    Africa

    No Issuer Equity
    in
    Africa
    23.0%

    Consumer Discretionary

    18.1%

    Information Technology

    17.1%

    Industrials

    12.8%

    Health Care

    10.6%

    Consumer Staples

    5.0%

    Telecommunication Services

    4.8%

    Materials

    4.2%

    Financials

    No Issuer Equity
    in
    Financials
    1.4%

    Energy

    No Issuer Equity
    in
    Energy
    5.4%

    Textiles Apparel & Luxury Goods

    No Issuer Equity
    in
    Textiles Apparel & Luxury Goods
    5.3%

    Software

    4.8%

    Semiconductors & Semiconductor Equipment

    4.5%

    Diversified Telecommunication Services

    4.5%

    Auto Components

    4.5%

    Health Care Equipment & Supplies

    No Issuer Equity
    in
    Health Care Equipment & Supplies
    3.7%

    Machinery

    3.7%

    Trading Companies & Distributors

    No Issuer Equity
    in
    Trading Companies & Distributors
    3.6%

    Automobiles

    3.6%

    Pharmaceuticals

    No Issuer Equity
    in
    Pharmaceuticals
    3.1%

    Beverages

    3.0%

    Commercial Services & Supplies

    No Issuer Equity
    in
    Commercial Services & Supplies
    3.0%

    Hotels Restaurants & Leisure

    2.8%

    IT Services

    2.7%

    Chemicals

    No Issuer Equity
    in
    Chemicals
    2.6%

    Biotechnology

    2.5%

    Electrical Equipment

    2.5%

    Food & Staples Retailing

    No Issuer Equity
    in
    Food & Staples Retailing
    2.2%

    Media

    No Issuer Equity
    in
    Media
    2.2%

    Electronic Equipment Instruments & Components

    97.2%

    77.9%

    Large

    18.2%

    Mid

    1.1%

    Small

    No Issuer Equity
    in
    Small
    ×
    • 2.3%
      Infineon Technologies AG
    • Engaged in designing, developing, manufacturing, and marketing semiconductors and its related products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Germany
    EQUITY SECTOR Information Technology
    INDUSTRY Semiconductors & Semiconductor Equipment
    MARKET CAP Large
    ×
    • 2.1%
      SAP SE
    • Provides e-business software solutions
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Germany
    EQUITY SECTOR Information Technology
    INDUSTRY Software
    MARKET CAP Large
    ×
    • 1.9%
      Nippon Telegraph & Telephone
    • Operates as a holding company which interests in wired and wireless telecommunication services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Japan
    EQUITY SECTOR Telecommunication Services
    INDUSTRY Diversified Telecommunication Services
    MARKET CAP Large
    ×
    • 1.8%
      Valeo SA
    • Engages in the designing, production and marketing of automotive equipment
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY France
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Auto Components
    MARKET CAP Large
    ×
    • 1.6%
      Carnival Corp.
    • Operates luxury cruises ships
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Hotels Restaurants & Leisure
    MARKET CAP Large
    ×
    • 1.6%
      Hero MotoCorp Ltd.
    • Operates as a two wheeler manufacturing company
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY India
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Automobiles
    MARKET CAP Large
    ×
    • 1.6%
      Lonza Group AG
    • Engages in the supply of pharmaceutical, healthcare, and life science products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Switzerland
    EQUITY SECTOR Health Care
    MARKET CAP Large
    ×
    • 1.6%
      Temenos Group AG
    • Provides banking software systems to retail, corporate, universal, private, Islamic, microfinance and community banks, wealth managers, and financial institutions
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Switzerland
    EQUITY SECTOR Information Technology
    INDUSTRY Software
    MARKET CAP Mid
    ×
    • 1.6%
      Continental AG
    • Manufactures motor vehicle accessories and rubber products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Germany
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Auto Components
    MARKET CAP Large
    ×
    • 1.6%
      Keyence Corp.
    • Manufactures and sells sensors and measuring instruments
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Japan
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    MARKET CAP Large
    ×
    • 1.5%
      Atos Origin S.A.
    • Provides information technology and consulting services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY France
    EQUITY SECTOR Information Technology
    INDUSTRY IT Services
    MARKET CAP Large
    ×
    • 1.4%
      Nidec Corp.
    • Manufactures small-scale spindle motors for hard disk drives and other electronic devices
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Japan
    EQUITY SECTOR Industrials
    INDUSTRY Electrical Equipment
    MARKET CAP Large
    ×
    • 1.4%
      Grifols SA
    • Manufactures plasma-derived biological medicines
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Spain
    EQUITY SECTOR Health Care
    INDUSTRY Biotechnology
    MARKET CAP Large
    ×
    • 1.4%
      SEB S.A.
    • Engages in the manufacturing of small domestic equipment and cookware
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY France
    EQUITY SECTOR Consumer Discretionary
    MARKET CAP Large
    ×
    • 1.4%
      Heineken NV
    • Produces and distributes beer and non-alcoholic beverages
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Netherlands
    EQUITY SECTOR Consumer Staples
    INDUSTRY Beverages
    MARKET CAP Large
    ×
    • 1.4%
      Aalberts Industries NV
    • Engages in the development of industrial products and systems
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Netherlands
    EQUITY SECTOR Industrials
    INDUSTRY Machinery
    MARKET CAP Mid
    ×
    • 1.3%
      Reckitt Benckiser Group plc
    • Manufactures and markets household cleaning, health and personal care products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United Kingdom
    EQUITY SECTOR Consumer Staples
    MARKET CAP Large
    ×
    • 1.3%
      CCL Industries, Inc.
    • Provides packaging and labeling services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Canada
    EQUITY SECTOR Materials
    MARKET CAP Large
    ×
    • 1.3%
      Dollarama, Inc.
    • Offers a broad range of consumer products and general merchandise for everyday use
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY Canada
    EQUITY SECTOR Consumer Discretionary
    MARKET CAP Large
    ×
    • 1.3%
      STMicroelectronics NV
    • Designs, develops, manufactures and markets a broad range of semiconductor integrated circuits and discrete devices
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY France
    EQUITY SECTOR Information Technology
    INDUSTRY Semiconductors & Semiconductor Equipment
    MARKET CAP Large

    Management

    George R. Evans, CFA

    Managed Fund since 3/96

    Robert Dunphy, CFA

    Managed Fund since 3/12

    Investment Approach

    The portfolio managers invest in well-established foreign businesses that appear likely to grow at a faster pace than world GDP and may benefit from four distinctive global themes that we call MANTRA®: Mass Affluence, New Technology, Restructuring and Aging. Within this framework, the portfolio managers rely on fundamental analysis to search for various types of quality growth companies with sustainable competitive advantages and above industry revenue growth.

    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. Eurozone investments may be subject to volatility and liquidity issues. Investments in securities of growth companies may be volatile. 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. 6. The Morningstar Analyst Rating is not a credit or risk rating but a subjective evaluation performed by the analysts of Morningstar, Inc. (Mstar). Mstar evaluates funds based on five key pillars (process, performance, people, parent and price). Mstar's analysts use this evaluation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors and the weightings of each pillar may vary. The Analyst Rating reflects overall assessment and is overseen by Morningstar's Analyst Rating Committee. The analyst rating scale is five-tiered, with three positive ratings (Gold, Silver, Bronze), a Neutral rating and a Negative rating, with Gold being the highest rating and Negative being the lowest rating. The Mstar Analyst Ratings should not be used as the sole basis in evaluating a mutual fund and are based on Mstar's current expectations about future events. Mstar does not represent ratings as a guarantee. Analyst Ratings involve unknown risks and uncertainties which may cause Mstar's expectations not to occur or to differ significantly.
    7. A. Class B shares convert to Class A shares 72 months after purchase; therefore "since inception", "10-year" and "15-year" returns for Class B (if applicable) use Class A performance for period after conversion.
    8. 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 and reinvested distributions and contingent deferred sales charges (CDSC) for years 1-6 of 5%, 4%, 3%, 3%, 2% and 1%, respectively, where with sales charge is indicated. Class B shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.
    9. 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.
    10. D. 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. E. OppenheimerFunds' equity style box is based on the portfolio's overall targeted capitalization range and relative valuation as determined by OFI.
    12. F. There is no guarantee of the payment of any dividend or other distributions at any level.
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