Overview

 

Economic News and Stock Returns2

Top-down macro level factors appear to be having a significant impact on world stock markets. A high correlation of economic news with returns may indicate that more recently, investors are relying on economic news to dictate their investment decisions.

  • 2003-2008
  • 2008-2012

Not based on the return of any specific fund.

Average Annual Returns (%) as of Mar 31, 2013

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
4/30/2013
Fund at NAV 3.09 8.31 11.83 — — — 14.81
Fund w/Max Sales Charge -2.83 2.07 5.39 — — — 8.20
MSCI World Index3 3.15 5.74 11.13 16.70 9.58 1.81 16.67
3/31/2013
Fund at NAV 3.97 8.48 8.48 — — — 11.36
Fund w/Max Sales Charge -2.05 2.23 2.23 — — — 4.96
MSCI World Index3 2.34 7.73 7.73 11.85 8.46 2.22 13.11
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than one year is cumulative. Max Sales Charge: 5.75%.

Fund Facts as of Apr 30, 2013

Class A Inception 08/29/2012
Investment Objective Long-term capital appreciation
Total Net Assets of Fund $54.8M
Minimum Investment $1000
Expense Ratio (Gross)4 1.47%
Expense Ratio (Net)4,5 1.42%
CUSIP 277902367

Top 10 Holdings (%)6,7 as of Mar 31, 2013

Johnson & Johnson
Walgreen Co.
AT&T Inc.
Microsoft Corp.
Pfizer Inc.
Procter & Gamble
Exxon Mobile
Merck & Co.
Wal-Mart Stores
Cisco Systems
Total 18.38


Portfolio Management

Vital Proulx, CFA Managed Fund since inception
Jean-René Adam, CFA Managed Fund since inception
Jean-Pierre Couture Managed Fund since inception
Marc Christopher Lavoie, CFA Managed Fund since inception
Denis Rivest, CFA Managed Fund since inception
Frédéric Imbeault, CFA Managed Fund since inception

 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


1. Diversification cannot assure a profit or eliminate the risk of loss.
2. Sources: Hexavest, Bloomberg, Datastream. Economic news is represented by the Citigroup Economic Surprise Index (Surprise Index) which is a measure of the deviation between actual economic data and the median forecast of economists compiled by Bloomberg, LLC. Returns are based on rolling cumulative 3-month price returns calculated daily. United States is represented by the S&P 500 Index, an unmanaged index of large-cap stocks commonly used as a measure of U.S. stock market performance. Europe is represented by the MSCI Europe Index, an unmanaged free float-adjusted market-capitalization-weighted index designed to measure the equity market performance of the developed markets in Europe. Emerging Markets (EM) are represented by the MSCI Emerging Markets Index, an unmanaged index of emerging-market common stocks. Correlation is a measure of an investment’s movement in relation to another, correlation of 1 means investments move together in perfect lockstep.
3. MSCI World Index is an unmanaged index of equity securities in the developed markets. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
4. Source: Fund prospectus.
5. Net expense ratio reflects a contractual expense reimbursement that continues through 11/30/13. Without the reimbursement, performance would have been lower.
6. Percent of total net assets.
7. Top 10 holdings exclude cash and equivalents.

Performance

Average Annual Returns (%) as of Mar 31, 2013

1 Month 3 Months YTD 1 Year 3 Years 5 Years Life of Fund
4/30/2013
Fund at NAV 3.09 8.31 11.83 — — — 14.81
Fund w/Max Sales Charge -2.83 2.07 5.39 — — — 8.20
MSCI World Index3 3.15 5.74 11.13 16.70 9.58 1.81 16.67
3/31/2013
Fund at NAV 3.97 8.48 8.48 — — — 11.36
Fund w/Max Sales Charge -2.05 2.23 2.23 — — — 4.96
MSCI World Index3 2.34 7.73 7.73 11.85 8.46 2.22 13.11
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than one year is cumulative. Max Sales Charge: 5.75%.

Calendar Year Returns (%)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Fund at NAV — — — — — — — — — —
MSCI World Index3 33.11 14.72 9.49 20.07 9.04 -40.71 29.99 11.76 -5.54 15.83

Fund Facts

Expense Ratio (Gross)4 1.47%
Expense Ratio (Net)4,5 1.42%
Class A Inception 08/29/2012
Distribution Frequency Annually


NAV History

Date NAV NAV Change
May 21, 2013 $11.61 $0.02
May 20, 2013 $11.59 $0.02
May 17, 2013 $11.57 $0.07
May 16, 2013 $11.50 $-0.04
May 15, 2013 $11.54 $0.05
May 14, 2013 $11.49 $0.08
May 13, 2013 $11.41 $-0.01
May 10, 2013 $11.42 $0.03
May 09, 2013 $11.39 $-0.06
May 08, 2013 $11.45 $0.07

Distribution History8

Ex-Date Distribution Reinvest NAV
Dec 27, 2012 $0.07450 $10.10
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus

Capital Gain History8

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 27, 2012 $0.05060 $10.10
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is as of month-end for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than quoted. For the Eaton Vance Fund's performance as of the most recent month end, please refer to www.eatonvance.com. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns shown at NAV unless noted otherwise. Returns for other classes of shares offered by the Fund are different. It is not possible to invest in an index.

 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


3. MSCI World Index is an unmanaged index of equity securities in the developed markets. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
4. Source: Fund prospectus.
5. Net expense ratio reflects a contractual expense reimbursement that continues through 11/30/13. Without the reimbursement, performance would have been lower.
8. A portion of the Fund's returns may be comprised of return of capital or short term capital gains. The Fund will determine the tax characteristics of all Fund distributions after the end of the calendar year and will provide shareholders such information at that time. Please consult your tax advisor for further information.

Portfolio

Asset Mix (%)6 as of Mar 31, 2013

U.S. Common Stocks 50.18
Foreign Common Stocks 43.14
Cash & Equivalents 6.68
Total 100.00

Portfolio Statistics as of Mar 31, 2013

Median Market Cap $26.2B
Price/Earnings Ratio 13.15
Number of Holdings 336
Price/Book Ratio 1.83


GICS Sector Breakdown (%)6 as of Mar 31, 2013

Sector Fund MSCI World Index3
Consumer Discretionary 6.64 11.32
Consumer Staples 19.60 11.03
Energy 7.23 10.01
Financials 12.76 20.41
Health Care 17.45 11.07
Industrials 4.67 11.03
Information Technology 7.16 11.66
Materials 4.71 6.25
Telecom Services 10.22 3.78
Utilities 9.54 3.43
Cash 6.68 0.00

Assets by Country (%)9 as of Mar 31, 2013

United States 53.77
Japan 16.16
United Kingdom 7.03
Australia 4.99
Canada 4.94
Switzerland 3.69
France 2.99
Germany 1.20
Sweden 1.03
Netherlands 0.75
View All


Geographic Mix (%)9 as of Mar 31, 2013

United States 53.77
Japan 16.16
Europe 11.03
United Kingdom 7.03
Asia/Pacific 6.32
Latin America 0.32
Middle East 0.21
Africa 0.11
Eastern Europe 0.10


Fund Holdings (%)6,10 as of Mar 31, 2013

Holding % of Net Assets
EV Cash Reserves Fund 4.52%
iShares MSCI Japan Index Fund 3.29%
Johnson & Johnson 2.62%
SPDR S&P 500 ETF Trust 2.26%
Walgreen Co 2.08%
AT&T Inc 2.03%
Microsoft Corp 1.88%
Pfizer Inc 1.72%
Procter & Gamble Co 1.69%
Merck & Co Inc 1.60%
View All

 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


3. MSCI World Index is an unmanaged index of equity securities in the developed markets. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
6. Percent of total net assets.
9. Percent of total net assets, excluding cash and equivalents.
10. The following list reflects unaudited securities holdings (excluding derivatives positions). Holdings information may differ if presented as of trade date. Due to rounding, holdings of less than 0.005% may show as 0.00%. Portfolio information subject to change due to active management.

Insights & Analysis

Quarterly Commentary

 

No commentary information is available.

 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Attribution

 

No attribution information is available.

 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk 

Fund share values are sensitive to stock market volatility. Derivatives instruments can be used to take both long and short positions, be highly volatile, result in economic leverage (which can magnify losses), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No Fund is a complete investment program and you may lose money investing in a Fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Biography

Vital Proulx, CFA

President & Chief Investment Officer, Hexavest
Co-founded Hexavest 2004

Vital Proulx is Hexavest’s President and Chief Investment Officer.

Prior to co-founding Hexavest, Vital was Senior Vice President, International Equities at Natcan Investment Management (1998-2004). He started his career at Les Conseillers financiers du St-Laurent in 1989, where he started the international and U.S. equity strategies that Hexavest still manages to this day.

Vital holds a bachelor’s degree in Business Administration from Laval University (1988) and is a CFA charterholder (1993).

Education
  • B.B.A. Laval University
Experience
  • Managed Fund since inception
 
Biography

Jean-René Adam, CFA

Assistant Chief Investment Officer & Vice President, Hexavest
Joined Hexavest 2006

Jean-René Adam works closely with the firm’s Chief Investment Officer in the elaboration of our macro strategy and he is also responsible for managing North American equities.

Before joining Hexavest in 2006, Jean-René was Equity Research Associate, Special Situations at National Bank Financial (2004-2005) and Generalist and Equity Research Associate at Desjardins Securities (2002-2004).

He holds a bachelor’s degree in Commerce (2000) and a master’s degree in Finance (2001) from Sherbrooke University and he is also a CFA charterholder (2004).

Education
  • B.Comm. Sherbrooke University
  • M.Fin. Sherbrooke University
Experience
  • Managed Fund since inception
 
Biography

Jean-Pierre Couture

Portfolio Manager, Hexavest
Joined Hexavest 2010

Jean-Pierre Couture is responsible for macroeconomic research on Emerging Markets and also co-manages the firm’s Emerging Markets equities portfolio.

Prior to joining Hexavest in 2010, Jean-Pierre spent 9 years at Caisse de dépôt et placement du Québec where he held a number of roles, including Director of Macroeconomic Research and Senior Analyst, Global Macro. His career started at the National Bank of Canada where he worked as an Economist from 1995 to 2001.

Jean-Pierre holds a bachelor’s degree (1993) and a master’s degree in Economics (1996) from Université du Québec à Montréal.

Education
  • B.Econ. Université du Québec à Montréal
  • M.Econ. Université du Québec à Montréal
Experience
  • Managed Fund since inception
 
Biography

Marc Christopher Lavoie, CFA

Vice President & Portfolio Manager, Hexavest
Co-founded Hexavest 2004

Marc Christopher Lavoie is responsible for managing European equities at Hexavest.

Prior to co-founding Hexavest, Marc Christopher was Analyst, International Equities and Asset Allocation at Natcan Investment Management (2003-2004) and Senior Associate, Transaction Services at PricewaterhouseCoopers (2000-2003).

He holds a bachelor’s degree in Business Administration and a master’s degree in Accounting from Sherbrooke University. Marc Christopher is a Chartered Accountant (2000) and a CFA charterholder (2003).

Education
  • B.B.A. Sherbrooke University
  • M.Acc. Sherbrooke University
Experience
  • Managed Fund since inception
 
Biography

Denis Rivest, CFA

Chief Operating Officer & Portfolio Manager, Hexavest
Co-founded Hexavest 2004

Denis Rivest is Hexavest’s Chief Operating Officer and Portfolio Manager, European Markets.

Prior to co-founding Hexavest, Denis was Portfolio Manager, International Equities at Natcan Investment Management (1998-2004). He has more than 20 years of experience in operations, having held a number of roles at various financial institutions including Director of Securities Services at the Laurentian Bank of Canada.

Denis holds a bachelor’s degree in Business Administration from the Université du Québec à Montréal and he has been a CFA charterholder since 1993.

Education
  • B.B.A. Université du Québec à Montréal
Experience
  • Managed Fund since inception
 
Biography

Frédéric Imbeault, CFA

Vice President & Portfolio Manager, Hexavest
Co-founded Hexavest 2004

As Vice President, Frédéric Imbeault is responsible for managing equities in the Asia Pacific region.

Prior to co-founding Hexavest, Frédéric was Portfolio Manager, International Equities at Natcan Investment Management (1999-2004), Financial Analyst at Tassé & Associates (1997-1998), and Junior Economist at the Ministry of Industry, Commerce, Science and Technology (Québec) in 1996.

He holds a bachelor’s degree in Actuarial Studies from Laval University (1995) and a master’s degree in Economics from Sherbrooke University (1996), in addition to being a CFA charterholder (2000).

Education
  • B.S. Laval University
  • M.Econ. Sherbrooke University
Experience
  • Managed Fund since inception
 

Fund Literature

Fund Literature

Holdings-1st or 3rd fiscal quarters-www.sec.gov

Fact Sheet

Hexavest Market Outlook

Summary Prospectus

Full Prospectus

XBRL

Semi-Annual Report

SAI

Hexavest in Focus

Eaton Vance Launches Four Equity Funds Sub-Advised by Hexavest Inc.


 

Symbol:  

NAV as of  
  0.00%

Consider for:
Portfolio Diversification
All Weather
Hedging Rising Rates
Tax Efficiency
Inflation Protection
Investment Income