HFQIX Global Equity Income Fund

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

NAV
$6.69
As of 10/18/2019

1 Day Change
$0.00 (0.00%)
As of 10/18/2019

YTD Return
13.03%
As of 10/18/2019

Morningstar Rating

As of 09/30/2019

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.

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

Director, Global Equity Income | Portfolio Manager

Industry since 1983. Joined Firm in 1987.

Performance

RETURNS (%) (As of 09/30/2019)
Global Equity Income Fund - Class I Shares MSCI World Index℠ MSCI World High Dividend Yield Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(11/30/2006)
Global Equity Income Fund - Class I Shares 0.64% 11.51% -0.89% 4.14% 3.15% 5.86% 3.60%
MSCI World Index℠ 0.53% 17.61% 1.83% 10.21% 7.18% 9.01% 5.35%
MSCI World High Dividend Yield Index 1.09% 14.99% 4.98% 7.77% 5.49% 7.97% 4.26%
RETURNS (%) (As of 09/30/2019)
Global Equity Income Fund - Class I Shares MSCI World Index℠ MSCI World High Dividend Yield Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(11/30/2006)
Global Equity Income Fund - Class I Shares 0.64% 11.51% -0.89% 4.14% 3.15% 5.86% 3.60%
MSCI World Index℠ 0.53% 17.61% 1.83% 10.21% 7.18% 9.01% 5.35%
MSCI World High Dividend Yield Index 1.09% 14.99% 4.98% 7.77% 5.49% 7.97% 4.26%
CALENDAR YEAR RETURNS (%)
Global Equity Income Fund - Class I Shares MSCI World Index℠
 
  2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Global Equity Income Fund - Class I Shares 22.19 6.74 -1.15 15.17 21.02 -1.61 -0.10 4.90 19.60 -15.67
MSCI World Index℠ 29.99 11.76 -5.54 15.83 26.68 4.94 -0.87 7.51 22.40 -8.71

MORNINGSTAR PERCENTILE

(As Of 09/30/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 16 58 9 3 1
Foreign Large Value Category|Rank/Count 31/348 130/328 30/296 9/238 2/186
(As Of 09/30/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 16 58 9 3 1
Foreign Large Value Category|Rank/Count 31/348 130/328 30/296 9/238 2/186
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 09/30/2019 Class I Shares)

Risk / Reward
vs. MSCI World Index℠
3YR 5YR
Information Ratio -1.14 -0.82
Alpha -4.08 -2.56
Tracking Error 5.30 4.90
Beta 0.85 0.82
R-squared (%) 78.53 82.28
Up And Down Market Capture (%)
vs. MSCI World Index℠
3YR 5YR
Up Capture Ratio 66.24 71.16
Down Capture Ratio 93.16 89.94
Standard Deviation 3YR 5YR
Global Equity Income Fund 10.80 10.49
MSCI World Index℠ 11.30 11.63
Sharpe Ratio 3YR 5YR
Global Equity Income Fund 0.24 0.21
MSCI World Index℠ 0.77 0.54
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2018)
CLASS I SHARES
Management Fees 0.65%
12b-1 Fees -
Other Expenses 0.11%
Total Gross Expenses 0.76%
Waivers 0.00%
Total Net Expenses 0.76%

Portfolio

Index represents the MSCI World Index℠.

(As of 09/30/2019)
% of Fund
Taiwan Semiconductor Manufacturing Co Ltd (ADR) 3.43
GlaxoSmithKline PLC 3.07
BHP Group PLC 2.90
Eni SpA 2.76
TOTAL SA 2.55
TELUS Corp 2.38
British American Tobacco PLC 2.33
Amcor PLC 2.17
Royal Dutch Shell PLC 2.09
Samsung Electronics Co Ltd 2.04
Total: 25.72
View full holdings
Portfolio Characteristics (As of 09/30/2019)
  FUND INDEX
Number of Holdings
Equity Issues
78 1649
Market Capitalization
Weighted Average
$79.09B $172.52B
Portfolio Turnover Rate
(1-year trailing)
141.61% -
Price/Earnings Ratio
(1-year forward)
14.02 20.11
Price/Book Ratio
(1-year forward)
2.22 4.23
Earnings Growth Rate
(1-year forward)
-1.20% 4.93%

Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 09/30/2019)
Communication Services 14.56 8.41
Financials 13.06 15.69
Energy 12.27 5.18
Materials 9.60 4.39
Health Care 9.59 12.43
Consumer Discretionary 8.96 10.55
Information Technology 8.00 16.46
Consumer Staples 6.95 8.81
Real Estate 5.64 3.39
Utilities 5.48 3.58
Industrials 3.75 11.11
Cash & Equivalents 2.14 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 09/30/2019)
Europe 57.45 21.15
North America 19.88 66.28
Asia/Pacific Ex Japan 14.10 4.11
Japan 6.43 8.21
Cash & Equivalents 2.14 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 09/30/2019)
Over $100B 23.82 39.56
$50B to $100B 15.11 16.82
$10B to $50B 46.45 35.80
$5B to $10B 8.01 6.33
$1B to $5B 2.27 1.27
$500M to $1B 0.16
N/A 2.04 0.21
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