Overview

Historical Returns (%) as of Jun 30, 2022

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 Facts as of Aug 31, 2022

Class I Inception 09/30/2009
Performance Inception 05/02/1994
Investment Objective Long-term capital appreciation
Total Net Assets $211.2M
Minimum Investment $1000000
Expense Ratio2 1.24%
CUSIP 277905394

Top 10 Holdings (%)3,4 as of Jun 30, 2022

ICICI Bank Ltd 11.66
Infosys Ltd 10.85
Reliance Industries Ltd 8.06
Axis Bank Ltd 5.36
State Bank of India 3.01
SBI Life Insurance Co Ltd 2.65
HCL Technologies Ltd 2.48
Sun Pharmaceutical Industries Ltd 2.48
Tata Consumer Products Ltd 2.25
Kotak Mahindra Bank Ltd 2.20
Total 51.01
 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities 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, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. The securities markets in the India region are comparatively undeveloped and may be concentrated in certain sectors. Governmental actions in India can have a significant affect on economic conditions in the India region. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. 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. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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 Jun 30, 2022

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 (%)

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Fund at NAV 29.29 -9.83 39.74 -4.70 2.97 45.22 -11.85 10.79 13.77 24.31
MSCI India Index1 25.97 -3.83 23.87 -6.12 -1.43 38.76 -7.30 7.58 15.55 26.23
 

Fund Facts

Expense Ratio2 1.24%
Class I Inception 09/30/2009
Performance Inception 05/02/1994
Distribution Frequency Annually

Risk Measures (3 Year)6 as of Aug 31, 2022

Alpha (%) -2.50
Beta 0.93
R-Squared (%) 94.22
Standard Deviation (%) 23.43
Sharpe Ratio 0.45
 

Morningstar Rating™ as of Aug 31, 2022

Time Period Rating Funds in
India Equity
Category
Overall 21
3 Years 21
5 Years 18
10 Years 17
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. Hollow stars denote Morningstar Extended Performance Ratings and are considered estimates based on the performance of the fund's oldest share class, adjusted for fees and expenses.

©2022 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
Sep 30, 2022 $38.02 $0.70
Sep 29, 2022 $37.32 -$0.47
Sep 28, 2022 $37.79 $0.13
Sep 27, 2022 $37.66 $0.03
Sep 26, 2022 $37.63 -$0.96
Sep 23, 2022 $38.59 -$0.78
Sep 22, 2022 $39.37 -$0.46
Sep 21, 2022 $39.83 -$0.44
Sep 20, 2022 $40.27 $0.04
Sep 19, 2022 $40.23 $0.31
 

Distribution History7

Ex-Date Distribution Reinvest NAV
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 History7

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 09, 2021 $0.49150 $3.46600 $44.85
Aug 18, 2020 $0.09580 $33.32
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. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities 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, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. The securities markets in the India region are comparatively undeveloped and may be concentrated in certain sectors. Governmental actions in India can have a significant affect on economic conditions in the India region. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. 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. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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 (%)4,8 as of Jun 30, 2022

Portfolio Statistics as of Jun 30, 2022

Number of Holdings 60
Active Share9 57.25%
 

GICS Sector Breakdown (%)4 as of Jun 30, 2022

Assets by Country (%)4 as of Jun 30, 2022

India 98.73
Cash & Other Assets 1.27
Total 100.00
 

Geographic Mix (%)4 as of Jun 30, 2022

Asia/Pacific 98.73
Cash & Other Assets 1.27
Total 100.00
 

Fund Holdings (%)4,10 as of Jul 31, 2022

Holding % of Net Assets
ICICI Bank Ltd 11.87%
Infosys Ltd 9.73%
Reliance Industries Ltd 7.05%
Axis Bank Ltd 5.53%
State Bank of India 3.09%
SBI Life Insurance Co Ltd 2.89%
HDFC Bank Ltd 2.69%
Sun Pharmaceutical Industries Ltd 2.66%
Tata Consumer Products Ltd 2.34%
HCL Technologies Ltd 2.19%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities 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, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. The securities markets in the India region are comparatively undeveloped and may be concentrated in certain sectors. Governmental actions in India can have a significant affect on economic conditions in the India region. A non-diversified fund may be subject to greater risk by investing in a smaller number of investments than a diversified fund. Smaller companies are generally subject to greater price fluctuations, limited liquidity, higher transaction costs and higher investment risk than larger, more established companies. 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. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. 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

Hiren Dasani, CFA

Co-Head of Emerging Markets Equity at Goldman Sachs Asset Management, L.P.
Joined Goldman Sachs 2007

Biography

Hiren Dasani is co-head of emerging markets equity and a portfolio manager at Goldman Sachs Asset Management, L.P., an Eaton Vance subadvisor. He joined Goldman Sachs Asset Management in 2007.

Hiren began his career in the investment management industry in 2001. Most recently, he was head of India equity research at GSAMI. Before joining Goldman Sachs Asset Management, he was affiliated with SSKI Securities, ICICI Prudential Asset Management Co. and Axis Bank.

Hiren earned a Bachelor of Engineering from Maharaja Sayajirao University of Baroda and a PGDM from the Indian Institute of Management, Kozhikode. He is a CFA charterholder.

Education
  • Bachelor of Engineering Maharaja Sayajirao University of Baroda
  • PGDM Indian Institute of Management, Kozhikode

Experience
  • Managed Fund since 2017

 

Literature

Literature

Fact Sheet

Download Fact Sheet - Last updated: Jun 30, 2022

Annual Report

Download Annual Report - Last updated: Dec 31, 2021

Full Prospectus

Download Full Prospectus - Last updated: May 1, 2022

Q1 Holdings

Download Q1 Holdings - Last updated: Mar 31, 2022

Q3 Holdings

Download Q3 Holdings - Last updated: Sep 30, 2021

Holdings - Form N-PORT

Download Holdings - Form N-PORT

Important Shareholder Notice

Download Important Shareholder Notice - Last updated: Mar 7, 2022

SAI

Download SAI - Last updated: May 1, 2022

Semi-Annual Report

Download Semi-Annual Report - Last updated: Jun 30, 2022

Summary Prospectus

Download Summary Prospectus - Last updated: May 1, 2022