HEMIX Emerging Markets Fund

Seeks multiple sources of return by looking to identify the most compelling opportunities within Emerging Markets

NAV
$9.18
As of 11/21/2019

1 Day Change
-$0.05 (-0.54%)
As of 11/21/2019

YTD Return
5.40%
As of 11/21/2019

Overview

ABOUT THIS FUND

This fund seeks strong risk-adjusted returns by looking to identify the most compelling opportunities within countries across various stages of economic and political development. By seeking to combine bottom-up, fundamental research, top-down macro analysis, a keen focus on governance and quantitative input; this portfolio captures price inefficiencies across the market-cap spectrum.

WHY INVEST IN THIS FUND

Style-Agnostic, Best Ideas Approach

A disciplined investment process combines a bottom-up, fundamental research approach with top-down macro analysis that looks to create an all-cap portfolio of best ideas which seeks consistent risk-adjusted returns through market cycles. Key to this approach is filtering these ideas through a lens of political and corporate governance to better understand country-specific risks.

Seeks to Capture Price Inefficiencies

We believe mispriced securities, driven by lack of coverage and misunderstanding of growth drivers, represent the greatest opportunity, especially in private sector small- and mid-cap stocks. Our proprietary risk management system seeks to balance risk and potential return of our greatest convictions.

Experienced Investment Manager Strives for Compelling Results

The Portfolio Manager has nearly a quarter-century of investment experience in this dynamic asset class and has developed a unique perspective through his experience, background and culture. The Manager is supported by a sophisticated team of dedicated analysts that closely collaborates with the broader Firm’s complete roster of sector analysts.

PORTFOLIO MANAGEMENT

Daniel J. Graña, CFA

Portfolio Manager, Emerging Market Equity

Industry since 1995. Joined Firm in 2019.

Performance

RETURNS (%) (As of 09/30/2019)
Emerging Markets Fund - Class I Shares MSCI Emerging Markets Index℠
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/31/2010)
Emerging Markets Fund - Class I Shares -7.38% 0.80% -4.48% 1.28% 0.65% - -0.19%
MSCI Emerging Markets Index℠ -4.25% 5.89% -2.02% 5.97% 2.33% 3.37% 0.88%
RETURNS (%) (As of 10/31/2019)
Emerging Markets Fund - Class I Shares MSCI Emerging Markets Index℠
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/31/2010)
Emerging Markets Fund - Class I Shares -1.52% 4.36% 5.65% 2.05% 0.92% - 0.20%
MSCI Emerging Markets Index℠ 1.03% 10.35% 11.86% 7.36% 2.93% 3.78% 1.34%
CALENDAR YEAR RETURNS (%)
Emerging Markets Fund - Class I Shares MSCI Emerging Markets Index℠
 
  2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Emerging Markets Fund - Class I Shares - - -24.59 22.52 1.78 -2.81 -10.43 9.96 29.83 -16.54
MSCI Emerging Markets Index℠ - - -18.42 18.22 -2.60 -2.19 -14.92 11.19 37.28 -14.57

MORNINGSTAR PERCENTILE

(As Of 09/30/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 87 95 72 - 77
Diversified Emerging Mkts Category|Rank/Count 736/852 723/769 495/663 -/- 325/408
(As Of 10/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 94 96 77 - 81
Diversified Emerging Mkts Category|Rank/Count 795/842 724/763 530/661 -/- 331/403
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 10/31/2019 Class I Shares)

RISK / REWARD
VS. MSCI Emerging Markets Index℠
3YR 5YR
Information Ratio -0.94 -0.32
Alpha -3.63 -1.35
Tracking Error 5.64 6.32
Beta 0.80 0.75
R-squared (%) 84.48 84.91
UP/DOWN MARKET CAPTURE (%)
VS. MSCI Emerging Markets Index℠
3YR 5YR
Up Capture Ratio 75.31 74.95
Down Capture Ratio 98.80 84.94
STANDARD DEVIATION 3YR 5YR
Emerging Markets Fund 12.32 12.70
MSCI Emerging Markets Index℠ 14.19 15.65
SHARPE RATIO 3YR 5YR
Emerging Markets Fund 0.04 -0.01
MSCI Emerging Markets Index℠ 0.41 0.12
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2018)
CLASS I SHARES
Management Fees 1.00%
12b-1 Fees -
Other Expenses 0.27%
Total Gross Expenses 1.27%
Waivers -0.17%
Total Net Expenses 1.10%

Portfolio

Index represents the MSCI Emerging Markets Index℠.

(As of 10/31/2019)
% of Fund
Tencent Holdings Ltd 6.56
Alibaba Group Holding Ltd (ADR) 6.14
Samsung Electronics Co Ltd 6.06
Taiwan Semiconductor Manufacturing Co Ltd 5.70
Ping An Insurance Group Co of China Ltd 3.70
HDFC Bank Ltd 2.57
Petroleo Brasileiro SA (ADR) 2.31
Itau Unibanco Holding SA (ADR) 2.21
Naspers Ltd 2.20
Housing Development Finance Corp Ltd 2.19
Total 39.64
View full holdings
Portfolio Characteristics (As of 10/31/2019)
  FUND INDEX
Number of Holdings
Equity Issues
58 1202
Market Capitalization
Weighted Average
$116.38B $93.42B
Portfolio Turnover Rate
(1-year trailing)
79.36% -
Price/Earnings Ratio
(1-year forward)
19.70 18.35
Price/Book Ratio
(1-year forward)
4.37 3.07
Earnings Growth Rate
(1-year forward)
12.82% 5.32%

Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 10/31/2019)
Financials 23.81 24.66
Consumer Discretionary 17.55 13.27
Information Technology 15.20 15.46
Communication Services 11.42 11.09
Industrials 11.35 5.30
Energy 7.05 7.86
Consumer Staples 5.02 6.72
Real Estate 2.29 2.89
Materials 2.18 7.15
Equity Other 2.01 -
Utilities 1.24 2.80
Health Care 0.09 2.80
Cash & Equivalents 0.79 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 10/31/2019)
Asia/Pacific Ex Japan 69.61 72.81
Latin America 12.26 11.98
Africa/Mideast 6.86 8.77
Europe 6.35 6.43
North America 2.12 0.01
Other 2.01 -
Cash & Equivalents 0.79 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 10/31/2019)
Over $100B 33.30 25.15
$50B to $100B 14.67 10.14
$10B to $50B 17.88 35.31
$5B to $10B 9.60 15.03
$1B to $5B 16.04 10.79
$500M to $1B 4.46 0.04
N/A 3.26 3.54

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