Overview

Growth of $10,000

10-year period ended 09/30/2017

  • Class A at NAV

Historical Returns (%)as of Sep 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
10/31/2017
Fund at NAV 4.08 7.59 40.53 31.68 9.74 11.16 0.76
MSCI Golden Dragon Index1 3.81 6.74 40.02 32.46 11.05 10.87 2.67
09/30/2017
Fund at NAV 0.27 8.70 35.03 23.05 9.87 10.73 1.77
MSCI Golden Dragon Index1 -0.26 9.33 34.88 26.39 11.24 10.30 3.43
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. Total return prior to the commencement of the class reflects returns of another Fund class. Prior returns are adjusted to reflect applicable sales charge (but were not adjusted for other expenses). If adjusted for other expenses, returns would be lower. The share class has no sales charge.

Fund Factsas of Oct 31, 2017

Class I Inception 10/01/2009
Performance Inception 10/28/1992
Investment Objective Long-term capital appreciation
Total Net Assets $100.8M
Minimum Investment $250000
Expense Ratio (Gross)2 1.63%
Expense Ratio (Net)2,3 1.55%
CUSIP 277902649

Top 10 Holdings (%)4,5as of Sep 30, 2017

Tencent Holdings Ltd
AIA Group Ltd
Ping An Insurance Group Co of China Ltd
Hong Kong Exchanges & Clearing Ltd
China Mobile Ltd
Sands China Ltd
Tingyi Cayman Islands Holding Corp
ANTA Sports Products Ltd
Link REIT
President Chain Store Corp
Total 46.50

Portfolio Management

June Lui Managed Fund since 2015
Christopher Darling Managed Fund since 2016

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

About Risk: 

Fund performance is sensitive to stock market volatility. 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. In emerging countries, these risks may be more significant. Asian economies are export-driven and can be affected by developments in the economies of their major trading partners. Governmental actions in China can have a significant affect on economic conditions in the Asia region. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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.


Performance

Historical Returns (%)as of Sep 30, 2017

Annualized
1 Mo. 3 Mos. YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
10/31/2017
Fund at NAV 4.08 7.59 40.53 31.68 9.74 11.16 0.76
MSCI Golden Dragon Index1 3.81 6.74 40.02 32.46 11.05 10.87 2.67
Morningstar China Region Category6 3.35 8.57 38.59 31.72 10.49 10.57 1.12
09/30/2017
Fund at NAV 0.27 8.70 35.03 23.05 9.87 10.73 1.77
MSCI Golden Dragon Index1 -0.26 9.33 34.88 26.39 11.24 10.30 3.43
Morningstar China Region Category6 1.28 10.98 33.91 25.50 10.41 10.40 2.12
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. Total return prior to the commencement of the class reflects returns of another Fund class. Prior returns are adjusted to reflect applicable sales charge (but were not adjusted for other expenses). If adjusted for other expenses, returns would be lower. The share class has no sales charge.

Calendar Year Returns (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV 61.18 -51.05 60.71 8.79 -22.69 23.10 15.80 -0.57 -4.70 1.98
MSCI Golden Dragon Index1 37.63 -49.54 66.66 13.24 -18.67 22.19 6.89 7.72 -7.43 5.40

Fund Facts

Expense Ratio (Gross)2 1.63%
Expense Ratio (Net)2,3 1.55%
Class I Inception 10/01/2009
Performance Inception 10/28/1992
Distribution Frequency Annually

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

Alpha (%) -0.39
Beta 0.92
R-Squared (%) 95.28
Standard Deviation (%) 16.05
Sharpe Ratio 0.59

Morningstar Rating™as of Oct 31, 2017

Time Period Rating Funds in
China Region
Category
Overall **** 85
3 Years *** 85
5 Years **** 72
10 Years **** 36
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
Nov 21, 2017 $28.76 $0.61
Nov 20, 2017 $28.15 $0.14
Nov 17, 2017 $28.01 $0.06
Nov 16, 2017 $27.95 $0.42
Nov 15, 2017 $27.53 -$0.22
Nov 14, 2017 $27.75 -$0.01
Nov 13, 2017 $27.76 $0.11
Nov 10, 2017 $27.65 $0.03
Nov 09, 2017 $27.62 $0.06
Nov 08, 2017 $27.56 $0.14

Distribution History8

Ex-Date Distribution Reinvest NAV
Dec 15, 2016 $0.19680 $19.35
May 21, 2015 $0.11110 $24.28
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 17, 2015 $1.13210 $18.82
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: 

Fund performance is sensitive to stock market volatility. 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. In emerging countries, these risks may be more significant. Asian economies are export-driven and can be affected by developments in the economies of their major trading partners. Governmental actions in China can have a significant affect on economic conditions in the Asia region. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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.


Portfolio

Asset Mix (%)5,9as of Sep 30, 2017

Foreign Common Stocks 97.88
Cash 2.12
Total 100.00

Portfolio Statisticsas of Sep 30, 2017

Number of Holdings 39

GICS Sector Breakdown (%)5as of Sep 30, 2017

Sector Fund MSCI Golden Dragon Index1
Consumer Discretionary 19.19 8.92
Consumer Staples 15.68 2.10
Energy 0.88 2.96
Financials 27.50 22.90
Health Care 0.91 1.17
Industrials 1.82 5.78
Information Technology 17.69 37.61
Materials 2.73
Real Estate 9.30 8.09
Telecom Services 3.48 4.27
Utilities 1.44 3.47
Cash 2.12

Assets by Country (%)5as of Sep 30, 2017

China 53.36
Hong Kong 28.72
Taiwan 15.80
Cash & Other Assets 2.12
Total 100.00

Geographic Mix (%)5as of Sep 30, 2017

Asia/Pacific 97.88
Cash & Other Assets 2.12
Total 100.00

Fund Holdings (%)5,10as of Sep 30, 2017

Holding % of Net Assets
Tencent Holdings Ltd 9.43%
AIA Group Ltd 8.29%
Ping An Insurance Group Co of China Ltd 5.06%
Hong Kong Exchanges & Clearing Ltd 3.60%
China Mobile Ltd 3.46%
Sands China Ltd 3.41%
Tingyi Cayman Islands Holding Corp 3.39%
ANTA Sports Products Ltd 3.39%
Link REIT 3.17%
President Chain Store Corp 3.04%
View All

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

About Risk: 

Fund performance is sensitive to stock market volatility. 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. In emerging countries, these risks may be more significant. Asian economies are export-driven and can be affected by developments in the economies of their major trading partners. Governmental actions in China can have a significant affect on economic conditions in the Asia region. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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.


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: 

Fund performance is sensitive to stock market volatility. 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. In emerging countries, these risks may be more significant. Asian economies are export-driven and can be affected by developments in the economies of their major trading partners. Governmental actions in China can have a significant affect on economic conditions in the Asia region. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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 currently available.

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

About Risk: 

Fund performance is sensitive to stock market volatility. 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. In emerging countries, these risks may be more significant. Asian economies are export-driven and can be affected by developments in the economies of their major trading partners. Governmental actions in China can have a significant affect on economic conditions in the Asia region. Because the Fund may invest significantly in a particular geographic region or country, value of Fund shares may fluctuate more than a fund with less exposure to such areas. A nondiversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. 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

June Lui

Portfolio Manager, BMO Global Asset Management (Asia) Ltd.
Joined BMO Global Asset Management (Asia) Limited 2007

Education

Experience
  • Managed Fund since 2015

 
Biography

Christopher Darling

Chief Investment Officer - Asia, BMO Global Asset Management (Asia) Limited
Joined BMO Global Asset Management (Asia) Limited 2006

Christopher Darling of BMO Global Asset Management (Asia) Limited is Chief Investment Officer – Asia and a portfolio manager.

He joined BMO Global Asset Management (Asia) Limited, an Eaton Vance investment subadviser, in 2006 as director of Asian Research. Christopher worked as a member of the Asian equities team at Capel Cure Myers in London, before joining Guardian Royal Exchange in 1991. He spent eight years at Lobard Odier from 1995, where he managed Japanese portfolios for institutional clients, as well as other Asia Pacific components. Immediately prior to joining BMO Global Asset Management (Asia) Limited in Hong Kong in 2006, Christopher worked in Hong Kong with the investment banking boutique, Fox-Pitt, Kelton Ltd, specializing in Asian and Japanese financials.

Christopher graduated from University College London and then earned an MSc in economic history from the London School of Economics.

Education
  • University College of London
  • MSc Economic History, London School of Economics

Experience
  • Managed Fund since 2016

 

Literature

Literature

Fact Sheet

Download - Last updated: Sep 30, 2017

Annual Report

Download - Last updated: Aug 31, 2017

Full Prospectus

Download - Last updated: May 1, 2017

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

Download

SAI

Download - Last updated: May 1, 2017

Semi-Annual Report

Download - Last updated: Feb 28, 2017

Summary Prospectus

Download - Last updated: May 1, 2017

XBRL

Download - Last updated: Jan 11, 2017