For Financial Professionals in the US

HFQIX Global Equity Income Fund

A high-conviction strategy that targets high, dependable income from high-yielding, high-quality global equities

NAV
$6.78
As of 10/25/2021

1-Day Change
-$0.01 (-0.15%)
As of 10/25/2021

YTD Return
8.58%
As of 10/25/2021

Morningstar Rating

As of 09/30/2021

Overview

ABOUT THIS FUND

A long-only portfolio that seeks a high level of current income and steady capital appreciation. The Fund seeks global, high-quality, income-producing equities with a focus on international companies.

WHY INVEST IN THIS FUND

Income, Regardless of Environment

With our global approach, we seek to take advantage of various market environments to find the best income-producing equities. We tend to focus on international equities where the income-generating potential may be greater.

Regional Rotation Strategy

We use a specialized rotation strategy intended to capitalize on the global seasonality of dividends.

Differentiated Income Option

The Fund may be an attractive alternative to preferred stock and fixed income. The Fund holds 100% equities with no leverage and a quarterly dividend distribution schedule.

A History of High, Dependable Income

By investing in quality companies and leveraging a specialized regional rotation strategy, the Fund has been able to capitalize on higher dividends paid out overseas to generate an attractive level of income since inception.
A Record of Regular Distributions
Quarterly Distribution Yield – Class I Shares (6/30/07 – 9/30/21)

Global Equity Income Chart Q3 2021

Distribution yields are as of each quarter-end. Data is for Class A Shares from 6/30/07 – 3/31/09 and Class I Shares from 4/30/09 – Present. Class I Shares became available in 2009. Distribution Yield is calculated by taking the trailing 365 days of distributions and dividing by the net asset value on the last business day for the same period.
The yield does not include long- or short-term capital gains distributions.
As of 9/30/21, the 30-Day SEC Yield with/without waivers was 3.35%. 30-Day SEC yield is a standardized yield calculated based on a snapshot of current underlying holdings and doesn’t account for active trading throughout a full calendar year.

PORTFOLIO MANAGEMENT

Ben Lofthouse, CFA

Head of Global Equity Income | Portfolio Manager

Industry since 1998. Joined Firm in 2004.

Alex Crooke

Co-Head of Equities – EMEA and Asia Pacific | Portfolio Manager

Industry since 1990. Joined Firm in 1994.

Job Curtis

Portfolio Manager

Industry since 1983. Joined Firm in 1987.

Performance

RETURNS (%) (As of 09/30/2021)
Global Equity Income Fund - Class I Shares MSCI World Index℠ 85% MSCI ACWI ex-US High Div Yld / 15% MSCI USA High Div Yld Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(11/30/2006)
Global Equity Income Fund - Class I Shares -2.60 4.89 19.43 4.79 5.57 7.24 4.36
MSCI World Index℠ -0.01 13.04 28.82 13.14 13.74 12.68 7.13
85% MSCI ACWI ex-US High Div Yld / 15% MSCI USA High Div Yld Index -3.63 5.95 22.53 4.51 6.62 6.72 3.87
RETURNS (%) (As of 09/30/2021)
Global Equity Income Fund - Class I Shares MSCI World Index℠ 85% MSCI ACWI ex-US High Div Yld / 15% MSCI USA High Div Yld Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(11/30/2006)
Global Equity Income Fund - Class I Shares -2.60 4.89 19.43 4.79 5.57 7.24 4.36
MSCI World Index℠ -0.01 13.04 28.82 13.14 13.74 12.68 7.13
85% MSCI ACWI ex-US High Div Yld / 15% MSCI USA High Div Yld Index -3.63 5.95 22.53 4.51 6.62 6.72 3.87
CALENDAR YEAR RETURNS (%)
Global Equity Income Fund - Class I Shares MSCI World Index℠
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Global Equity Income Fund - Class I Shares -1.15 15.17 21.02 -1.61 -0.10 4.90 19.60 -15.67 21.37 1.70
MSCI World Index℠ -5.54 15.83 26.68 4.94 -0.87 7.51 22.40 -8.71 27.67 15.90

MORNINGSTAR PERCENTILE

(As Of 09/30/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 88 43 72 27 8
Foreign Large Value Category|Rank/Count 309/350 156/327 216/308 74/253 22/186
(As Of 09/30/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 88 43 72 27 8
Foreign Large Value Category|Rank/Count 309/350 156/327 216/308 74/253 22/186
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 09/30/2021 Class I Shares)

RISK / REWARD
VS. MSCI World Index℠
3YR 5YR
Information Ratio -1.46 -1.44
Alpha -5.97 -5.69
Tracking Error 5.71 5.66
Beta 0.87 0.87
R-squared (%) 90.58 85.44
UP/DOWN MARKET CAPTURE (%)
VS. MSCI World Index℠
3YR 5YR
Up Capture Ratio 70.45 68.01
Down Capture Ratio 96.34 98.24
STANDARD DEVIATION 3YR 5YR
Global Equity Income Fund 16.86 14.00
MSCI World Index℠ 18.46 14.81
SHARPE RATIO 3YR 5YR
Global Equity Income Fund 0.22 0.32
MSCI World Index℠ 0.65 0.85
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/20)
CLASS I SHARES
Management Fees 0.67%
Other Expenses 0.11%
Total Gross Expenses 0.78%
Waivers 0.00%
Total Net Expenses 0.78%

Portfolio

Index represents the MSCI World Index℠.

Top Holdings (As of 09/30/2021)
% of Fund
TotalEnergies SE 3.21
Unilever PLC 2.85
Merck & Co Inc 2.63
AXA SA 2.18
Cisco Systems Inc/Delaware 2.09
British American Tobacco PLC 2.08
Nutrien Ltd 2.06
Broadcom Inc 2.04
Nestle SA 2.02
Samsung Electronics Co Ltd 1.92
Total 23.08
View Full Holdings
Portfolio Characteristics (As of 09/30/2021)
  FUND INDEX
Number of Holdings
Equity Issues
82 1560
Market Capitalization
Weighted Average
$103.46B $385.79B
Portfolio Turnover Rate
(1-year trailing)
119.35% -
Price/Earnings Ratio
(1-year forward)
14.24 26.02
Price/Book Ratio
(1-year forward)
3.08 6.07
Earnings Growth Rate
(1-year forward)
27.74% 33.82%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 09/30/2021)
Financials 17.31 13.67
Consumer Staples 12.85 6.88
Health Care 11.74 12.60
Information Technology 11.09 22.50
Communication Services 9.59 9.23
Materials 9.36 4.11
Utilities 7.46 2.69
Energy 6.31 3.20
Consumer Discretionary 5.51 12.12
Industrials 4.87 10.31
Real Estate 1.39 2.69
Cash & Equivalents 2.52 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 09/30/2021)
Europe 57.97 18.57
North America 25.94 70.48
Asia/Pacific Ex Japan 8.64 3.61
Japan 4.93 7.03
Cash & Equivalents 2.52 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 09/30/2021)
Over $100B 30.77 49.76
$50B to $100B 21.31 16.77
$10B to $50B 36.49 29.82
$5B to $10B 6.41 3.18
$1B to $5B 0.58 0.27
N/A 1.92 0.20

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