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Global Equity

Global Opportunities Fund

The Strategy typically invests opportunistically in both U.S. and foreign stocks.

Investment Style
Global Opportunity
Fund Inception
January 27, 2012
Total Assets (all classes) (as of 5/31/2017)
$5.09 billion
Fund Index
MSCI AC World
NAV (as of 6/28/17)
  • A
$59.22

Equity

Fixed Income

Municipal Bond
performance
analytics
holdings
as of 5/31/2017
  • F
as of 3/31/2017
  • F

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
3 mo ytd as of 6/28/17
  • C
1 yr 3 yr 5 yr since inception
Global Opportunities Fund (NAV)
18.58% 27.33% 37.78% 12.94% 14.11% 15.20%
Cumulative
Annualized
3 mo ytd as of 6/28/17
  • C
1 yr 3 yr 5 yr since inception
Global Opportunities Fund (NAV)
16.33% 27.33% 34.78% 16.62% 18.91% 16.01%
Gross Expense Ratio: 0.75% | Net Expense Ratio: 0.75%

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 Opportunities Fund MSCI AC World
2012 0.00% 16.13%
2013 41.31% 22.80%
2014 -3.04% 4.16%
2015 14.44% -2.36%
2016 11.16% 7.86%

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 Opportunities Fund MSCI ACWI S&P 500
5/31/2007 0.00 0.00 0.00
6/30/2007 -0.58 -0.29 -1.66
7/31/2007 -1.01 -1.82 -4.71
8/31/2007 0.18 -2.09 -3.28
9/30/2007 3.30 3.17 0.34
10/31/2007 4.99 7.19 1.93
11/30/2007 -3.91 2.45 -2.33
12/31/2007 -6.16 1.32 -3.01
1/31/2008 -12.49 -6.98 -8.83
2/29/2008 -13.09 -6.72 -11.79
3/31/2008 -15.51 -8.09 -12.17
4/30/2008 -12.89 -2.96 -7.89
5/31/2008 -10.30 -1.44 -6.70
6/30/2008 -19.50 -9.53 -14.56
7/31/2008 -20.81 -11.88 -15.28
8/31/2008 -17.48 -13.78 -14.06
9/30/2008 -28.91 -24.56 -21.71
10/31/2008 -42.34 -39.51 -34.86
11/30/2008 -48.66 -43.48 -39.54
12/31/2008 -45.50 -41.43 -38.89
1/31/2009 -49.32 -46.44 -44.04
2/28/2009 -52.23 -51.68 -50.00
3/31/2009 -46.13 -47.70 -45.62
4/30/2009 -37.43 -41.53 -40.42
5/31/2009 -26.66 -35.70 -37.08
6/30/2009 -27.85 -36.06 -36.96
7/31/2009 -24.28 -30.43 -32.19
8/31/2009 -19.05 -27.95 -29.74
9/30/2009 -12.28 -24.64 -27.12
10/31/2009 -18.42 -25.80 -28.48
11/30/2009 -10.95 -22.75 -24.19
12/31/2009 -4.19 -21.15 -22.72
1/31/2010 -6.78 -24.56 -25.50
2/28/2010 -6.20 -23.60 -23.19
3/31/2010 0.95 -18.68 -18.56
4/30/2010 1.56 -18.55 -17.27
5/31/2010 -5.52 -26.27 -23.88
6/30/2010 -9.65 -28.54 -27.86
7/31/2010 -2.39 -22.73 -22.81
8/31/2010 -9.98 -25.43 -26.29
9/30/2010 0.52 -18.29 -19.72
10/31/2010 3.83 -15.34 -16.66
11/30/2010 1.17 -17.22 -16.65
12/31/2010 7.91 -11.16 -11.08
1/31/2011 6.60 -9.77 -8.97
2/28/2011 11.25 -7.14 -5.85
3/31/2011 9.98 -7.23 -5.82
4/30/2011 18.22 -3.44 -3.03
5/31/2011 16.59 -5.51 -4.13
6/30/2011 12.12 -7.00 -5.72
7/31/2011 9.40 -8.52 -7.64
8/31/2011 6.57 -15.20 -12.66
9/30/2011 -4.87 -23.21 -18.80
10/31/2011 3.81 -14.98 -9.92
11/30/2011 -0.66 -17.52 -10.12
12/31/2011 -2.06 -17.69 -9.20
1/31/2012 6.70 -12.90 -5.13
2/29/2012 12.40 -8.52 -1.03
3/31/2012 15.83 -7.91 2.23
4/30/2012 10.97 -8.97 1.58
5/31/2012 0.06 -17.13 -4.52
6/30/2012 4.80 -13.04 -0.59
7/31/2012 2.98 -11.85 0.79
8/31/2012 5.53 -9.93 3.06
9/30/2012 8.78 -7.09 5.73
10/31/2012 4.73 -7.71 3.77
11/30/2012 4.62 -6.53 4.38
12/31/2012 8.01 -4.41 5.33
1/31/2013 12.70 -0.01 10.78
2/28/2013 10.56 -0.03 12.29
3/31/2013 15.87 1.80 16.50
4/30/2013 17.46 4.71 18.74
5/31/2013 21.71 4.42 21.52
6/30/2013 22.15 1.37 19.89
7/31/2013 28.91 6.22 25.99
8/31/2013 30.24 4.01 22.34
9/30/2013 40.72 9.38 26.18
10/31/2013 40.02 13.78 31.98
11/30/2013 48.55 15.39 36.00
12/31/2013 51.95 17.38 39.44
1/31/2014 52.47 12.69 34.62
2/28/2014 60.66 18.13 40.78
3/31/2014 54.13 18.65 41.96
4/30/2014 46.52 19.78 43.01
5/31/2014 48.70 22.33 46.37
6/30/2014 53.94 24.63 49.39
7/31/2014 42.50 23.12 47.33
8/31/2014 50.77 25.84 53.23
9/30/2014 42.79 21.76 51.08
10/31/2014 44.79 22.62 54.77
11/30/2014 49.85 24.67 58.93
12/31/2014 46.69 22.26 58.53
1/31/2015 46.32 20.35 53.77
2/28/2015 53.21 27.05 62.61
3/31/2015 49.18 25.08 60.04
4/30/2015 46.51 28.71 61.57
5/31/2015 54.03 28.55 63.65
6/30/2015 56.65 25.52 60.48
7/31/2015 59.73 26.61 63.84
8/31/2015 48.51 17.93 53.96
9/30/2015 45.95 13.66 50.15
10/31/2015 52.69 22.58 62.81
11/30/2015 66.50 21.57 63.30
12/31/2015 67.13 19.37 60.72
1/31/2016 48.42 12.17 52.75
2/29/2016 45.28 11.40 52.54
3/31/2016 59.75 19.66 62.89
4/30/2016 66.31 21.43 63.52
5/31/2016 73.43 21.58 66.46
6/30/2016 65.98 20.84 66.89
7/31/2016 80.81 26.05 73.04
8/31/2016 83.76 26.47 73.29
9/30/2016 89.24 27.25 73.32
10/31/2016 75.89 25.09 70.16
11/30/2016 80.14 26.04 76.46
12/31/2016 85.01 28.76 79.95
1/31/2017 92.05 32.28 83.36
2/28/2017 100.29 35.99 90.64
3/31/2017 119.15 37.66 90.86
4/30/2017 122.49 39.80 92.82
5/31/2017 132.74 42.89 95.54

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 6/28/2017

Date 2012 2013 2014 2015 2016
Short Term 0.3151
Long Term 0.2496 3.1737
Total Amount of Distribution 0.2496 3.4888
Record Date 12/10/15 12/8/16
Ex Div Date 12/11/15 12/9/16
Pay Date 12/11/15 12/9/16

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

Analytics

(As of 5/31/2017)

Morningstar 5/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
120
Category
World Small/Mid Stock
Performance Statistics
3Y
5Y
Alpha
10.30
7.08
Information Ratio
0.93
0.65
Upside Capture
165.84
124.66
Downside Capture
105.40
82.31
Sharpe Ratio
0.96
1.21
R-Squared
52.10
44.39
Standard Deviation
17.42
15.31
Sortino Ratio
0.45
0.59
Beta
1.16
1.01
Tracking Error
12.17
11.41
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/9/2016
Per Share ($)
$0.34
Net Income
0.00%
Net Profit from Sale
100.00%
Other Capital Sources
0.00%
12-Month Distribution ($)
$0.34
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$11.70 B
$113.70 B
Median Market Cap (weighted)
$6.10 B
$49.00 B
Trailing P/E
108.75
20.19
Forward P/E
40.36
16.11
Price/Book
4.80
2.28
Return on Equity
11.38%
14.48%
EPS Growth Rate 3Y
10.82%
4.64%
EPS Growth Rate 5Y
6.94%
6.28%
Sales Growth Rate 3Y
8.43%
-
Sales Growth Rate 5Y
8.60%
-
Turnover Ratio
26.00%
-

Top Issuers

(43.8% of assets as of 05/31/17)


Portfolio Holdings Breakdown

Country 4
Developed Markets 4
Emerging Markets 4
Equity Sector 4
Industry 4
Asset Allocation 4
Market Cap 5
Country Global Opportunities Fund MSCI AC World Overweight / Underweight
United States 37.1% 52.5% -15.3%
United Kingdom 11.6% 6.0% 5.7%
Japan 8.6% 7.7% 0.9%
Germany 7.8% 3.2% 4.7%
Denmark 7.1% 0.6% 6.5%
France 4.5% 3.5% 1.0%
Italy 3.2% 0.7% 2.5%
Spain 2.3% 1.2% 1.2%
Belgium 0.9% 0.4% 0.5%
Canada 0.8% 3.1% -2.2%
Portugal 0.5% 0.1% 0.5%
Norway 0.3% 0.2% 0.1%
Argentina 0.2% - -
Russia 0.2% 0.4% -0.1%
Developed Markets Global Opportunities Fund MSCI AC World Overweight / Underweight
Europe 38.3% 21.5% 16.8%
Americas 38.0% 55.6% -17.6%
Asia Pacific 8.6% 11.6% -3.0%
Emerging Markets Global Opportunities Fund MSCI AC World Overweight / Underweight
Americas 0.2% 1.4% -1.1%
Europe 0.2% 0.7% -0.5%
Equity Sector Global Opportunities Fund MSCI AC World Overweight / Underweight
Health Care 28.0% 11.2% 16.8%
Information Technology 27.2% 17.1% 10.1%
Consumer Discretionary 19.8% 12.3% 7.5%
Industrials 10.8% 10.8% 0.0%
Materials 3.4% 5.2% -1.7%
Financials 3.0% 17.9% -14.9%
Consumer Staples 1.9% 9.7% -7.8%
Real Estate 1.7% 3.1% -1.4%
Telecommunication Services 0.3% 3.4% -3.1%
Broad Market -10.8% - -
Industry Global Opportunities Fund MSCI AC World Overweight / Underweight
Pharmaceuticals 12.1% 5.4% 6.8%
Semiconductors & Semiconductor Equipment 7.9% 2.8% 5.1%
Software 7.4% 3.2% 4.2%
Biotechnology 7.1% 1.8% 5.3%
Electronic Equipment Instruments & Components 6.5% 1.1% 5.4%
Internet & Direct Marketing Retail 4.4% 1.6% 2.8%
Health Care Equipment & Supplies 3.9% 1.8% 2.1%
Textiles Apparel & Luxury Goods 3.9% 1.1% 2.8%
Chemicals 3.4% 2.8% 0.6%
Specialty Retail 3.3% 1.6% 1.7%
Life Sciences Tools & Services 3.1% 0.5% 2.6%
Machinery 2.8% 1.8% 1.1%
Aerospace & Defense 2.8% 1.7% 1.1%
Household Durables 2.3% 0.7% 1.6%
Capital Markets 2.3% 2.5% -0.2%
Media 2.2% 2.5% -0.2%
Technology Hardware Storage & Peripherals 2.0% 3.1% -1.1%
Internet Software & Services 2.0% 3.8% -1.8%
Electrical Equipment 2.0% 0.8% 1.2%
IT Services 1.5% 2.5% -1.0%
Asset Allocation Global Opportunities Fund MSCI AC World Overweight / Underweight
Equity 85.3% 100.0% -14.7%
Net Cash and Equivalents 14.7% - -
Market Cap Global Opportunities Fund MSCI AC World Overweight / Underweight
Mid 39.7% 11.9% 27.9%
Small 29.9% 0.1% 29.8%
Large 26.5% 88.0% -61.5%
  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. 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. 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. For Share Classes with less than a one-year track record, expense ratios are estimated based on the Manager's projections of those expenses for the coming fiscal year.
  7. 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 p.m. ET daily. ↩
  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, 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. ↩
  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. There is no guarantee of the payment of any dividend or other distributions at any level. ↩
  11. E. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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 Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment. ↩
  12. F. 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. ↩
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