Emerging Markets Leaders Fund

Investment Objective

Capital Appreciation

Fund Characteristics

The Emerging Markets Leaders Fund seeks to invest in emerging markets companies with above-average returns on equity, strong balance sheets and consistent, above-average earnings growth, resulting in a focused portfolio of leading companies.

Investment Approach

  • The Emerging Markets Leaders Fund will invest in emerging market companies of all sizes.
  • The Fund will seek well-managed companies with superior business fundamentals, including global leadership in product quality or cost competitiveness, dominant or improving market position within a growing or local or regional economy, and sustainable above-average and/or increasing returns on invested capital.
  • The Fund may invest in new companies, both through initial public offerings (“IPOs”) and private placements.
  • The Fund will normally be invested in at least six different countries. The Fund’s sector and geographic diversification will vary, based on the ongoing evaluation of economic, market and political trends throughout the world.
  • Currently, emerging markets include every other country in the world other than the United States, Canada, Japan, Australia, New Zealand, Hong Kong, Singapore and most Western European countries.

Why Consider This Fund?

  • Provides focused investments in leading companies in terms of products, services, and execution
  • Historically consumer-focused, reflecting a growing opportunity set
  • Managed by a seasoned team with decades of emerging markets experience

The Fund involves a high level of risk and may not be appropriate for everyone. You should only consider it for the aggressive portion of your portfolio. The Fund’s returns will vary, and you could lose money by investing in the Fund.  The Fund holds equities which may decline in value due to both real and perceived general market, economic, and industry conditions.  Investing in securities of smaller companies tends to be more volatile and less liquid than securities of larger companies.   International investing involves special risk considerations, including currency fluctuations, higher volatility, lower liquidity, economic and political risk. Investing in emerging markets can increase these risks. The securities of emerging market companies may be subject to greater volatility and less liquidity than companies in more developed markets.  Individual securities may not perform as expected or a strategy used by the Adviser may fail to produce its intended result. Currency rates may fluctuate significantly over short periods of time and may reduce the returns of a portfolio.  Convertible securities may be called before intended, which may have an adverse effect on investment objectives.