Overview

Historical Returns (%)as of Mar 31, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
Fund at NAV 4.77 12.32 12.32 14.50 2.86 4.62
Fund w/Max Sales Charge 3.77 11.32 11.32 13.50 2.86 4.62
MSCI Emerging Markets Index1 2.52 11.44 11.44 17.21 1.17 0.80 1.59
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 or equal to one year is cumulative. Max Sales Charge: 1%.

Fund Factsas of Mar 31, 2017

Class C Inception 10/29/2012
Investment Objective Long-term capital appreciation
Total Net Assets $152.0M
Minimum Investment $2000
Expense Ratio (Gross)2 4.31%
Expense Ratio (Net)2,3 2.02%
CUSIP 131649790

Top 10 Holdings (%)4,5as of Mar 31, 2017

Tencent Holdings Ltd
Taiwan Semiconductor Manufacturing Co Ltd
Alibaba Group Holding Ltd
Techtronic Industries Co Ltd
HDFC Bank Ltd
Samsonite International SA
KB Financial Group Inc
AIA Group Ltd
Power Grid Corp of India Ltd
Bank Rakyat Indonesia Persero Tbk PT
Total 36.61

Morningstar™ Ratingsas of Mar 31, 2017

Time Period Rating Funds in
Diversified Emerging Mkts
Category
Overall **** 629
3 Years **** 629
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds and exchange-traded funds) 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.

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. 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. Star ratings do not reflect the effect of any applicable sales load.

©2017 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Portfolio Management

Gary Greenberg, CFA Managed Fund since 2012
Elena Tedesco, CFA Managed Fund since 2012

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

About Risk: 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund, or the Fund could underperform, because of the following risks: the market prices of stocks held by the Fund may fall; individual investments of the Fund may not perform as expected, and/or the Fund's portfolio management practices may not achieve the desired result. Investing in foreign securities involves additional risks relating to political, social, and economic developments abroad; differences between the regulations that apply to U.S. and foreign issuers and markets; the potential for foreign markets to be less liquid and more volatile than U.S. markets; and currency risk associated with securities that trade or are denominated in currencies other than the U.S. dollar. In addition, the risks of investing in emerging market securities are greater than those of investing in securities of developed foreign countries. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company's ESG performance. The Fund is non-diversified and may be more volatile than a diversified fund.


Performance

Historical Returns (%)as of Mar 31, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. Life of Fund
Fund at NAV 4.77 12.32 12.32 14.50 2.86 4.62
Fund w/Max Sales Charge 3.77 11.32 11.32 13.50 2.86 4.62
MSCI Emerging Markets Index1 2.52 11.44 11.44 17.21 1.17 0.80 1.59
Morningstar™ Diversified Emerging Mkts Category6 3.10 11.59 11.59 16.40 0.71 1.20
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 or equal to one year is cumulative. Max Sales Charge: 1%.

Calendar Year Returns (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV 9.93 -2.37 -8.55 5.72
MSCI Emerging Markets Index1 39.39 -53.33 78.51 18.88 -18.42 18.22 -2.60 -2.19 -14.92 11.19

Fund Facts

Expense Ratio (Gross)2 4.31%
Expense Ratio (Net)2,3 2.02%
Class C Inception 10/29/2012
Distribution Frequency Annually

Risk Measures (3 Year)7as of Mar 31, 2017

Alpha (%) 1.82
Beta 0.81
R-Squared (%) 89.09
Standard Deviation (%) 13.80
Sharpe Ratio 0.20
Large Growth
Morningstar Equity Style Box
The Morningstar Style Box™ reveals a fund’s investment strategy. For equity funds the vertical axis shows the market capitalization of the long stocks owned and the horizontal axis shows investment style (value, blend, or growth). For fixed-income funds, the vertical axis shows the credit quality of the long bonds owned and the horizontal axis shows interest rate sensitivity as measured by a bond's effective duration.

©2017 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Morningstar™ Ratingsas of Mar 31, 2017

Time Period Rating Funds in
Diversified Emerging Mkts
Category
Overall **** 629
3 Years **** 629
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds and exchange-traded funds) 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.

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. 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. Star ratings do not reflect the effect of any applicable sales load.

©2017 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

NAV History

Date NAV NAV Change
Apr 21, 2017 $13.54 $0.00
Apr 20, 2017 $13.54 $0.13
Apr 19, 2017 $13.41 -$0.02
Apr 18, 2017 $13.43 -$0.06
Apr 17, 2017 $13.49 $0.12
Apr 13, 2017 $13.37 $0.02
Apr 12, 2017 $13.35 $0.03
Apr 11, 2017 $13.32 -$0.03
Apr 10, 2017 $13.35 -$0.04
Apr 07, 2017 $13.39 -$0.05

Distribution History8

Ex-Date Distribution Reinvest NAV
Dec 27, 2016 $0.01665 $11.75
Dec 29, 2015 $0.01226 $11.42
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 11, 2014 $0.41298 $12.47
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

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

About Risk: 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund, or the Fund could underperform, because of the following risks: the market prices of stocks held by the Fund may fall; individual investments of the Fund may not perform as expected, and/or the Fund's portfolio management practices may not achieve the desired result. Investing in foreign securities involves additional risks relating to political, social, and economic developments abroad; differences between the regulations that apply to U.S. and foreign issuers and markets; the potential for foreign markets to be less liquid and more volatile than U.S. markets; and currency risk associated with securities that trade or are denominated in currencies other than the U.S. dollar. In addition, the risks of investing in emerging market securities are greater than those of investing in securities of developed foreign countries. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company's ESG performance. The Fund is non-diversified and may be more volatile than a diversified fund.


Portfolio

Asset Mix (%)5as of Mar 31, 2017

Equity 96.38
Cash 2.26
Fixed Income 1.36
Total 100.00

Portfolio Statisticsas of Mar 31, 2017

Number of Holdings 48

GICS Sector Breakdown (%)5as of Mar 31, 2017

Sector Fund MSCI Emerging Markets Index1
Consumer Discretionary 20.86 10.39
Consumer Staples 7.27 6.94
Energy 1.79 7.31
Financials 22.02 24.05
Health Care 7.75 2.40
Industrials 1.47 5.92
Information Technology 28.33 24.48
Materials 1.81 7.47
Real Estate 2.56
Telecom Services 5.64
Utilities 5.07 2.84
Other 1.36
Cash 2.26

Assets by Country (%)5as of Mar 31, 2017

China 16.71
Taiwan 15.58
India 14.29
Brazil 8.49
Hong Kong 6.59
South Africa 5.57
Korea 5.03
Russian Federation 4.86
United States 4.75
Mexico 3.51
Total 100.00
View All

Fund Holdings (%)5,9as of Feb 28, 2017

Holding % of Net Assets
Tencent Holdings Ltd 6.23%
Taiwan Semiconductor Manufacturing Co Ltd 5.07%
Alibaba Group Holding Ltd 4.10%
Techtronic Industries Co Ltd 3.43%
HDFC Bank Ltd 3.27%
AIA Group Ltd 2.82%
KB Financial Group Inc 2.73%
Samsonite International SA 2.70%
Power Grid Corp of India Ltd 2.39%
Bank Rakyat Indonesia Persero Tbk PT 2.36%
View All

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

About Risk: 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund, or the Fund could underperform, because of the following risks: the market prices of stocks held by the Fund may fall; individual investments of the Fund may not perform as expected, and/or the Fund's portfolio management practices may not achieve the desired result. Investing in foreign securities involves additional risks relating to political, social, and economic developments abroad; differences between the regulations that apply to U.S. and foreign issuers and markets; the potential for foreign markets to be less liquid and more volatile than U.S. markets; and currency risk associated with securities that trade or are denominated in currencies other than the U.S. dollar. In addition, the risks of investing in emerging market securities are greater than those of investing in securities of developed foreign countries. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company's ESG performance. The Fund is non-diversified and may be more volatile than a diversified fund.


Insights & Analysis

Commentary

No commentary information is currently available.

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

About Risk: 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund, or the Fund could underperform, because of the following risks: the market prices of stocks held by the Fund may fall; individual investments of the Fund may not perform as expected, and/or the Fund's portfolio management practices may not achieve the desired result. Investing in foreign securities involves additional risks relating to political, social, and economic developments abroad; differences between the regulations that apply to U.S. and foreign issuers and markets; the potential for foreign markets to be less liquid and more volatile than U.S. markets; and currency risk associated with securities that trade or are denominated in currencies other than the U.S. dollar. In addition, the risks of investing in emerging market securities are greater than those of investing in securities of developed foreign countries. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company's ESG performance. The Fund is non-diversified and may be more volatile than a diversified fund.

Attribution

No attribution information is currently available.

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

About Risk: 

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund, or the Fund could underperform, because of the following risks: the market prices of stocks held by the Fund may fall; individual investments of the Fund may not perform as expected, and/or the Fund's portfolio management practices may not achieve the desired result. Investing in foreign securities involves additional risks relating to political, social, and economic developments abroad; differences between the regulations that apply to U.S. and foreign issuers and markets; the potential for foreign markets to be less liquid and more volatile than U.S. markets; and currency risk associated with securities that trade or are denominated in currencies other than the U.S. dollar. In addition, the risks of investing in emerging market securities are greater than those of investing in securities of developed foreign countries. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. In evaluating a company, the Advisor is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the Advisor to incorrectly assess a company's ESG performance. The Fund is non-diversified and may be more volatile than a diversified fund.


Management

Biography

Gary Greenberg, CFA

Lead Portfolio Manager, Hermes Emerging Markets at Hermes

Education

Experience
  • Managed Fund since 2012

 
Biography

Elena Tedesco, CFA

Co-Portfolio Manager, Hermes Emerging Markets at Hermes

Education

Experience
  • Managed Fund since 2012

 

Literature

Literature

Fact Sheet

Download - Last updated: Mar 31, 2017

Commentary

Download - Last updated: Dec 31, 2016

Attribution

Download - Last updated: Dec 31, 2016

Annual Report

Download - Last updated: Sep 30, 2016

Full Prospectus

Download - Last updated: Apr 10, 2017

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

Download

SAI

Download - Last updated: Feb 1, 2017

Semi-Annual Report

Download - Last updated: Mar 31, 2016

Summary Prospectus

Download - Last updated: Apr 10, 2017

XBRL

Download - Last updated: Feb 1, 2017