For Individual Investors in the US

HFQDX Global Equity Income Fund

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

NAV
$6.11
As of 03/31/2023

1-Day Change
$0.03 (0.44%)
 As of 03/31/2023

YTD Return
3.98%
As of 03/31/2023

Morningstar Rating

As of 02/28/2023

Buy/Trade

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

Ben Lofthouse, CFA

Head of Global Equity Income | Portfolio Manager

Industry since 1998. Joined Firm in 2004.

Alex Crooke

Alex Crooke

Head of Equities – EMEA and Asia Pacific | Portfolio Manager

Industry since 1990. Joined Firm in 1994.

Job Curtis

Job Curtis

Fund Manager

Industry since 1983. Joined Firm in 1987.

Performance

RETURNS (%) (As of 12/31/2022)
Global Equity Income Fund - Class D 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 D Shares 15.86 -6.30 -6.30 2.44 1.87 4.92 3.90
MSCI World Index℠ 9.77 -18.14 -18.14 4.94 6.14 8.85 5.73
85% MSCI ACWI ex-US High Div Yld / 15% MSCI USA High Div Yld Index 16.84 -5.83 -5.83 0.66 2.39 4.44 3.50
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Performance for Class D Shares that includes periods prior to 6/5/17 reflects the performance of a share class of a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund's prospectus for further details.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

RETURNS (%) (As of 02/28/2023)
Global Equity Income Fund - Class D 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 D Shares -0.60 2.01 -3.01 6.95 2.88 4.72 3.98
MSCI World Index℠ 0.06 4.50 -7.33 9.90 6.88 8.77 5.95
85% MSCI ACWI ex-US High Div Yld / 15% MSCI USA High Div Yld Index 2.43 2.37 -3.94 5.88 2.74 4.30 3.62
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Performance for Class D Shares that includes periods prior to 6/5/17 reflects the performance of a share class of a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund's prospectus for further details.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Calendar Year Returns (%)
Global Equity Income Fund - Class D Shares MSCI World Index℠
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Global Equity Income Fund - Class D Shares -6.30 12.95 1.59 21.07 -15.71 19.27 4.79 -0.47 -1.86 20.74
MSCI World Index℠ -18.14 21.82 15.90 27.67 -8.71 22.40 7.51 -0.87 4.94 26.68
GROWTH OF A HYPOTHETICAL INVESTMENT
Source: Morningstar, Inc.
This graph compares the performance of a hypothetical $10,000 investment in the fund, the fund’s Morningstar category average and its benchmark(s).

RETURNS-BASED STATISTICS (As of 02/28/2023 Class I Shares)

RISK / REWARD
VS. MSCI World Index℠		 3YR 5YR
Information Ratio -0.33 -0.52
Alpha -0.94 -2.55
Tracking Error 8.58 7.49
Beta 0.82 0.83
R-squared (%) 82.31 82.91
UP/DOWN MARKET CAPTURE (%)
VS. MSCI World Index℠		 3YR 5YR
Up Capture Ratio 76.80 73.31
Down Capture Ratio 84.20 86.80
STANDARD DEVIATION 3YR 5YR
Global Equity Income Fund 18.48 16.57
MSCI World Index℠ 20.41 18.12
SHARPE RATIO 3YR 5YR
Global Equity Income Fund 0.34 0.10
MSCI World Index℠ 0.44 0.31
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2022)
CLASS D SHARES
Management Fees 0.66%
Other Expenses 0.29%
Total Gross Expenses 0.95%
Waivers 0.00%
Total Net Expenses 0.95%

Portfolio

Index represents the MSCI World Index℠.

Top Holdings (As of 02/28/2023)
% of Fund
Unilever PLC 3.89
Roche Holding AG 3.08
BHP Group Ltd 2.97
Novartis AG 2.96
British American Tobacco PLC 2.87
Merck & Co Inc 2.86
Imperial Brands PLC 2.66
CME Group Inc 2.64
Sanofi 2.29
GSK PLC 2.19
Total 28.41
View full holdings
Portfolio Characteristics (As of 02/28/2023)
  FUND INDEX
Number of Holdings
Equity Issues		 77 1507
Market Capitalization
Weighted Average		 $83.23B $308.50B
Portfolio Turnover Rate
(1-year trailing)		 114.06% -
Price/Earnings Ratio
(1-year forward)		 10.89 15.80
Price/Book Ratio
 1.80 2.69
Earnings Growth Rate
(1-year forward)		 0.30% 15.63%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 02/28/2023)
Regional Allocation % OF FUND % of Index % OF FUND % of Index (As of February 28, 2023)
Market Capitalization Range of Equity Holdings % OF FUND % of Index % OF FUND % of Index (As of 02/28/2023)

Documents

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