GROWTH OF $100,000 OVER 10 YEARS
Compared to benchmark and category average, in thousands (difference vs. benchmark)
- Seeks strong, consistent long-term results by investing in foreign stocks with attractive valuations.
- Portfolio manager Gerd Woort-Menker has over 30 years of experience.
- Outperformed the MSCI EAFE Value Index over 10 years, while maintaining style purity.
- Consistent outperformance: Second percentile batting average over 10 years.1
1Morningstar. Select Shares as of 3/31/16. Batting average: measures the manager’s ability to meet or beat the market consistently. It is calculated by dividing the number of quarters (or months) in which the manager beats or matches the index by the total number of quarters (or months) in the period. Ranked: one-year (274/380), three-year (246/338), five-year (131/309), 10-year (5/208). Past performance does not guarantee future results.
Turning research into results
Finding the best stocks from around the world, regardless of country or sector, requires real breadth and depth of insight. With a team of over 70 research analysts on the ground in the U.S., Europe, Asia Pacific and the emerging markets, the International Value Fund is able to yield a focused portfolio of only the team’s highest conviction ideas.
Focusing on the most attractive value stocks within each global sector, a robust, proprietary selection model is used to screen stocks based on their prospects for significant change in earnings power. Historically, stocks ranked in the top two quintiles outperformed those deemed less attractive.
QUINTILE PERFORMANCE VS. MSCI EAFE INDEX
Generating long-term returns from blue chips
Gerd Woort-Menker, portfolio manager, suggests that generating solid, long-term returns from investments in attractively valued blue chip companies can only be achieved by a disciplined, bottom-up stock selection process.
Total return assumes reinvestment of income.
The quoted performance of the Fund includes performance of a predecessor fund/share class prior to the Fund's commencement of operations. Please refer to the current prospectus for further information.
The MSCI EAFE (Europe, Australia, Far East) Value Index (net of foreign withholding taxes) is a free float-adjusted market capitalization weighted index that is designed to measure the performance of value-oriented stocks in developed markets, excluding the U.S. and Canada. The performance of the index does not reflect the deduction of expenses associated with a fund, such as investment management fees. By contrast, the performance of the Fund reflects the deduction of the fund expenses, including sales charges if applicable. Total return figures assume the reinvestment of dividends. The dividend is reinvested after deduction of withholding tax, applying the maximum rate to nonresident individual investors who do not benefit from double taxation treaties. An individual cannot invest directly in an index.
The performance of the Lipper International Large-Cap Value Funds Average includes expenses associated with a mutual fund, such as investment management fee. These expenses are not identical to the expenses charged by the Fund. An individual cannot invest directly in an index.
Total return assumes reinvestment of dividends and capital gains distributions and reflects the deduction of any sales charges, where applicable. Performance may reflect the waiver of a portion of the Fund's advisory or administrative fees and/or reimbursement of certain expenses for certain periods since the inception date. If fees had not been waived and/or certain expenses were not reimbursed, performance would have been less favorable.
©2016, American Bankers Association, CUSIP Database provided by the Standard & Poor's CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. All rights reserved.
The top 10 holdings listed reflect only the Fund's long-term investments. Short-term investments are excluded. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security. Each individual security is calculated as a percentage of the aggregate market value of the securities held in the Fund and does not include the use of derivative positions, where applicable.
P/E ratio: the number by which earnings per share is multiplied to estimate a stock's value.
P/B ratio: the relationship between a stock's price and the book value of that stock.
Beta measures a fund's volatility in comparison to the market as a whole. A beta of 1.00 indicates a fund has been exactly as volatile as the market.
Sharpe ratio measures the fund's excess return compared to a risk-free investment. The higher the Sharpe ratio, the better the returns relative to the risk taken.
Tracking Error: The active risk of the portfolio, which determines the annualized standard deviation of the excess returns between the portfolio and the benchmark.
Alpha: The relationship between the performance of the Fund and its beta over a three-year period of time.
Standard deviation/Volatility: A statistical measure of the degree to which the Fund's returns have varied from its historical average. The higher the standard deviation, the wider the range of returns from its average and the greater the historical volatility. The standard deviation is calculated over a 36-month period based on Fund's monthly returns. The standard deviation shown is based on the Fund's Class A Shares or the oldest share class, where Class A Shares are not available.
R2: The percentage of a Fund's movements that result from movements in the index ranging from 0 to 100. A Fund with an R2 of 100 means that 100 percent of the Fund's movement can completely be explained by movements in the Fund's external index benchmark.
EPS: Total earnings divided by the number of shares outstanding.
Risk measures are calculated based upon the Funds' broad-based index as stated in the prospectus.