HEMIX Emerging Markets Fund

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

NAV
$9.85
As of 09/25/2020

1-Day Change
$0.04 (0.41%)
As of 09/25/2020

YTD Return
1.03%
As of 09/25/2020

Overview

Investment Update

Watch now for a current market perspective and outlook from the investment team.

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 06/30/2020)
Emerging Markets Fund - Class I Shares MSCI Emerging Markets Index℠
 
3M YTD 1YR 3YR 5YR Since Inception
(12/31/2010)
Emerging Markets Fund - Class I Shares 23.91 -6.97 -2.67 -0.06 2.21 0.34
MSCI Emerging Markets Index℠ 18.08 -9.78 -3.39 1.90 2.86 0.90
RETURNS (%) (As of 08/31/2020)
Emerging Markets Fund - Class I Shares MSCI Emerging Markets Index℠
 
3M YTD 1YR 3YR 5YR Since Inception
(12/31/2010)
Emerging Markets Fund - Class I Shares 24.21 4.21 17.46 1.58 6.71 1.52
MSCI Emerging Markets Index℠ 19.53 0.45 14.49 2.83 8.66 2.01
CALENDAR YEAR RETURNS (%)
Emerging Markets Fund - Class I Shares MSCI Emerging Markets Index℠
 
  2011 2012 2013 2014 2015 2016 2017 2018 2019
Emerging Markets Fund - Class I Shares -24.59 22.52 1.78 -2.81 -10.43 9.96 29.83 -16.54 13.88
MSCI Emerging Markets Index℠ -18.42 18.22 -2.60 -2.19 -14.92 11.19 37.28 -14.57 18.42

MORNINGSTAR PERCENTILE

(As Of 06/30/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 42 64 54 - 58
Diversified Emerging Mkts Category|Rank/Count 404/824 504/751 401/684 -/- 250/394
(As Of 08/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 29 53 66 - 56
Diversified Emerging Mkts Category|Rank/Count 272/806 439/737 460/668 -/- 244/393

RETURNS-BASED STATISTICS (As of 08/31/2020 Class I Shares)

RISK / REWARD
VS. MSCI Emerging Markets Index℠
3YR 5YR
Information Ratio -0.20 -0.33
Alpha -1.00 -1.09
Tracking Error 6.27 5.98
Beta 0.97 0.92
R-squared (%) 89.68 88.36
UP/DOWN MARKET CAPTURE (%)
VS. MSCI Emerging Markets Index℠
3YR 5YR
Up Capture Ratio 92.37 87.26
Down Capture Ratio 97.91 93.83
STANDARD DEVIATION 3YR 5YR
Emerging Markets Fund 19.45 17.09
MSCI Emerging Markets Index℠ 18.91 17.41
SHARPE RATIO 3YR 5YR
Emerging Markets Fund -0.01 0.32
MSCI Emerging Markets Index℠ 0.06 0.43
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2019)
CLASS I SHARES
Management Fees 1.00%
12b-1 Fees -
Other Expenses 0.46%
Total Gross Expenses 1.46%
Waivers -0.34%
Total Net Expenses 1.12%

Portfolio

Index represents the MSCI Emerging Markets Index℠.

Top Holdings (As of 08/31/2020)
% of Fund
Tencent Holdings Ltd 9.26
Alibaba Group Holding Ltd (ADR) 9.25
Taiwan Semiconductor Manufacturing Co Ltd 7.48
Samsung Electronics Co Ltd 4.79
Naspers Ltd 3.79
Ping An Insurance Group Co of China Ltd 3.40
Ivanhoe Mines Ltd 2.39
Chailease Holding Co Ltd 2.30
AIA Group Ltd 2.18
NAVER Corp 1.94
Total 46.78
View full holdings
Portfolio Characteristics (As of 08/31/2020)
  FUND INDEX
Number of Holdings
Equity Issues
54 1383
Market Capitalization
Weighted Average
$197.99B $171.67B
Portfolio Turnover Rate
(1-year trailing)
174.45% -
Price/Earnings Ratio
(1-year forward)
27.57 25.68
Price/Book Ratio
(1-year forward)
5.14 4.18
Earnings Growth Rate
(1-year forward)
12.65% 7.66%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 08/31/2020)
Consumer Discretionary 23.57 19.76
Information Technology 20.77 17.54
Communication Services 15.10 12.95
Financials 11.87 17.75
Industrials 10.17 4.47
Real Estate 4.68 2.39
Materials 4.05 7.06
Energy 2.58 5.60
Utilities 2.31 2.03
Consumer Staples 2.10 6.25
Health Care 1.43 4.20
Cash & Equivalents 1.37 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of August 31, 2020)
Asia/Pacific Ex Japan 79.61 80.53
Africa/Mideast 6.41 7.49
Latin America 4.62 7.53
Europe 4.35 4.45
North America 3.64 -
Cash & Equivalents 1.37 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of August 31, 2020)
Over $100B 36.33 33.85
$50B to $100B 8.09 7.45
$10B to $50B 20.05 34.13
$5B to $10B 9.40 12.99
$1B to $5B 17.48 9.50
$500M to $1B 4.69 0.02
$250M to $500M 1.07
$100M to $250M 0.67
N/A 0.85 2.07

Documents

TOP