JPPIX Global Value Fund

Defensive-minded specialists aiming to identify undervalued, global opportunities

NAV
$13.80
As of 02/21/2020

1-Day Change
-$0.03 (-0.22%)
As of 02/21/2020

YTD Return
-1.92%
As of 02/21/2020

Overview

ABOUT THIS FUND

As defensive value specialists, we look to invest in high-quality companies with strong management teams, stable balance sheets, and durable competitive advantages that are trading at attractive valuations. We seek to achieve excess returns over full market cycles, with less risk than our benchmark and peers as measured by standard deviation, beta and down-market capture.

WHY INVEST IN THIS FUND

Attractive Reward/Risk

Our disciplined valuation process measures downside risk before upside potential and invests in securities with favorable reward/risk ratios.

High-Conviction Process

The portfolio typically holds between 60 to 90 stocks with business fundamentals considered more important than fluctuations in the wider economy.

Different Than the Benchmark

The benchmark is not used as a starting point for portfolio construction, which should lead to high active share.

PORTFOLIO MANAGEMENT

Gregory Kolb, CFA

Chief Investment Officer | Portfolio Manager

Industry since 1998. Joined Firm in 2010.

George Maglares

Portfolio Manager | Research Analyst

Industry since 2004. Joined Firm in 2013.

Performance

RETURNS (%) (As of 12/31/2019)
Global Value Fund - Class I Shares MSCI World Index℠ MSCI All Country World Index℠
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(06/29/2001)
Global Value Fund - Class I Shares 6.96 18.19 18.19 9.48 5.85 7.95 6.64
MSCI World Index℠ 8.56 27.67 27.67 12.57 8.74 9.47 6.31
MSCI All Country World Index℠ 8.95 26.60 26.60 12.44 8.41 8.79 6.38
RETURNS (%) (As of 01/31/2020)
Global Value Fund - Class I Shares MSCI World Index℠ MSCI All Country World Index℠
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(06/29/2001)
Global Value Fund - Class I Shares 2.21 -2.20 9.01 8.25 5.61 7.73 6.48
MSCI World Index℠ 5.22 -0.61 17.73 11.45 9.00 9.87 6.25
MSCI All Country World Index℠ 4.88 -1.10 16.04 11.03 8.51 9.15 6.29
CALENDAR YEAR RETURNS (%)
Global Value Fund - Class I Shares MSCI World Index℠
 
  2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Global Value Fund - Class I Shares 31.57 10.79 1.91 11.82 21.37 5.58 -1.98 3.32 19.01 -6.72
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 12/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 92 77 84 69 48
World Large Stock Category|Rank/Count 822/897 619/799 610/723 367/507 152/284
(As Of 01/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 85 71 84 73 50
World Large Stock Category|Rank/Count 791/894 604/817 614/726 392/511 158/284
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 01/31/2020 Class I Shares)

RISK / REWARD
VS. MSCI World Index℠
3YR 5YR
Information Ratio -0.74 -0.79
Alpha -0.08 -0.82
Tracking Error 4.35 4.29
Beta 0.73 0.72
R-squared (%) 87.63 90.32
UP/DOWN MARKET CAPTURE (%)
VS. MSCI World Index℠
3YR 5YR
Up Capture Ratio 73.38 68.97
Down Capture Ratio 78.68 77.94
STANDARD DEVIATION 3YR 5YR
Global Value Fund 8.81 8.76
MSCI World Index℠ 11.30 11.64
SHARPE RATIO 3YR 5YR
Global Value Fund 0.74 0.52
MSCI World Index℠ 0.86 0.68
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2019)
CLASS I SHARES
Management Fees 0.47%
12b-1 Fees -
Other Expenses 0.55%
Total Gross Expenses 1.02%
Total Net Expenses 1.02%

Portfolio

Index represents the MSCI World Index℠.

Top Holdings (As of 01/31/2020)
% of Fund
Johnson & Johnson 4.22
Alphabet Inc 4.15
Pfizer Inc 3.99
Wells Fargo & Co 3.62
Oracle Corp 3.42
Public Storage 2.59
BAE Systems PLC 2.40
Sanofi 2.38
Cognizant Technology Solutions Corp 2.28
Honda Motor Co Ltd 2.02
Total 31.07
View full holdings
Portfolio Characteristics (As of 01/31/2020)
  FUND INDEX
Number of Holdings
Equity Issues
86 1644
Market Capitalization
Weighted Average
$136.46B $213.42B
Portfolio Turnover Rate
(1-year trailing)
19.11% -
Price/Earnings Ratio
(1-year forward)
16.67 21.27
Price/Book Ratio
(1-year forward)
2.13 5.24
Earnings Growth Rate
(1-year forward)
5.26% 7.77%

Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 01/31/2020)
Financials 17.48 15.38
Health Care 16.94 12.88
Consumer Staples 11.94 8.34
Industrials 9.78 10.99
Communication Services 8.67 8.47
Consumer Discretionary 7.72 10.28
Information Technology 7.72 18.05
Real Estate 4.42 3.29
Utilities 2.86 3.64
Energy 2.58 4.50
Materials 2.39 4.18
Cash & Equivalents 7.50 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 01/31/2020)
North America 44.19 66.99
Europe 30.88 20.82
Japan 9.66 8.10
Asia/Pacific Ex Japan 7.28 3.89
Latin America 0.49 -
Cash & Equivalents 7.50 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 01/31/2020)
Over $100B 34.31 41.97
$50B to $100B 6.57 16.51
$10B to $50B 28.17 34.66
$5B to $10B 9.52 5.68
$1B to $5B 8.54 0.97
$500M to $1B 2.35
$250M to $500M 2.70
$100M to $250M 0.17
Under $100M 0.17
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 01/31/2020)
Non-U.S. Developed 45.18 36.38
U.S. 43.17 63.62
Non-U.S. Emerging 4.15 -
Cash & Equivalents 7.50 -

Documents

TOP