For Individual Investors in the US

JNGLX Global Life Sciences Fund

The fund/portfolio seeks to harness the rapid innovation in health care to generate returns by investing in companies addressing unmet medical needs or those that seek to make the health care system more efficient.

NAV
$69.35
As of 06/09/2023

1-Day Change
$0.20 (0.29%)
As of 06/09/2023

YTD Return
3.20%
As of 06/09/2023

Morningstar Rating

As of 05/31/2023

Buy/Trade

Overview

ABOUT THIS FUND

The fund seeks to harness the rapid innovation in health care to generate returns by investing in companies addressing unmet medical needs or those that seek to make the health care system more efficient.

WHY INVEST IN THIS FUND

Health Care Expertise: Our domain experts have 95+ years of combined experience investing in the complex and dynamic health care sector. Our team of specialists, which include multiple Ph.D.’s, seek to understand both the science and the business of prospective investments.

Balanced Approach: We diversify the portfolio across market capitalizations, geographies and the primary sub-sectors of health care, including investments in biotechnology, health care services, medical devices and pharmaceuticals.

Integrated Risk Management Process: Security-level “Value at Risk” framework focuses attention on downside risks by limiting the position size of higher-risk stocks.

Fund Details

Inception Date	Dec 31, 1998
Total Net Assets (As of 04/30/2023)	$4.83B
Gross Annual Expense Ratio (As of fiscal year end 09/30/2022)	0.80%
Net Annual Expense Ratio (As of fiscal year end 09/30/2022)	0.80%
Expense Estimator

Morningstar Data

(As of 05/31/2023)

Overall Rating (Based on risk-adjusted returns)	152 Funds Rated View All Ratings
Category	Health
Morningstar Fee Level Group	Specialty No Load (out of 254 funds)
View Morningstar Fee Level Morningstar Fee Level compares a mutual fund share class' expense ratio relative to other fund share classes that invest in a similar asset class and have similar distribution channels and expense structures. A fund share class' net expense ratio from its most recent annual report (or, for a fund of funds, from its most recent prospectus) is ranked against peers using five quintiles: the 20% with the lowest expense ratio are designated Low, the next 20% Below Average, the next 20% Average, the next 20% Above Average and the 20% with the highest expense ratio are designated High. The Morningstar Fee Level can be a useful tool for putting a fund's fees into context, but alone is not a sufficient basis for investment decisions. When an expense waiver is in effect, it may have a material effect on the fee level and/or expense ratio ranking.
Equity Style Box LARGE VALUE LARGE BLEND LARGE GROWTH MID VALUE MID BLEND MID GROWTH SMALL VALUE SMALL BLEND SMALL GROWTH

Important Morningstar Information

Risk Tolerance Spectrum

Funds are placed on the risk tolerance spectrum to demonstrate the wide spectrum of risk levels among asset classes in which they are expected to typically invest. The spectrum is for informational purposes only, is not intended to be forward looking and is subject to change.

PORTFOLIO MANAGEMENT

Andy Acker, CFA

Global Life Sciences | Portfolio Manager

Industry since 1996. Joined Firm in 1999.

Daniel Lyons, PhD, CFA

Portfolio Manager | Research Analyst

Industry since 2000. Joined Firm in 2000.

Performance

RETURNS (%) (As of 03/31/2023)

Global Life Sciences Fund - Class D Shares MSCI World Health Care Index S&P 500® Index

	3M	YTD	1YR	3YR	5YR	10YR	Since Inception (12/31/1998)
Global Life Sciences Fund - Class D Shares	-1.28	-1.28	1.36	14.26	10.85	14.00	11.28
MSCI World Health Care Index	-1.60	-1.60	-3.69	12.66	10.12	10.37	6.71
S&P 500® Index	7.50	7.50	-7.73	18.60	11.19	12.24	7.09

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.

View Fees and Expenses

Performance for Class D Shares that includes periods prior to 2/16/10 reflects the performance of one or more share classes of the Fund or 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 05/31/2023)

Global Life Sciences Fund - Class D Shares MSCI World Health Care Index S&P 500® Index

	3M	YTD	1YR	3YR	5YR	10YR	Since Inception (12/31/1998)
Global Life Sciences Fund - Class D Shares	4.35	0.33	11.43	8.59	10.39	13.37	11.28
MSCI World Health Care Index	2.49	-2.33	-0.25	6.92	9.64	9.86	6.63
S&P 500® Index	5.75	9.65	2.92	12.92	11.01	11.99	7.13

View Fees and Expenses

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

Calendar Year Returns (%)

Global Life Sciences Fund - Class D Shares MSCI World Health Care Index

	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Global Life Sciences Fund - Class D Shares	-2.70	6.82	25.55	29.20	4.34	22.59	-12.32	8.32	34.97	55.84
MSCI World Health Care Index	-5.41	19.80	13.52	23.24	2.51	19.80	-6.81	6.60	18.10	36.27

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 04/30/2023 Class I Shares)

RISK / REWARD VS. MSCI World Health Care Index	3YR	5YR
Information Ratio	0.22	0.16
Alpha	2.21	1.05
Tracking Error	6.76	6.66
Beta	0.93	1.02
R-squared (%)	80.32	84.29

UP/DOWN MARKET CAPTURE (%) VS. MSCI World Health Care Index	3YR	5YR
Up Capture Ratio	87.71	102.75
Down Capture Ratio	76.98	98.25

STANDARD DEVIATION	3YR	5YR
Global Life Sciences Fund	15.05	16.79
MSCI World Health Care Index	14.57	15.16

SHARPE RATIO	3YR	5YR
Global Life Sciences Fund	0.68	0.61
MSCI World Health Care Index	0.60	0.61

ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2022)

CLASS D SHARES
Management Fees	0.64%
Other Expenses	0.16%
Total Gross Expenses	0.80%
Total Net Expenses	0.80%

Portfolio

Index represents the MSCI World Health Care Index.

Top Holdings (As of 04/30/2023)

	% of Fund
UnitedHealth Group Inc	6.19
AstraZeneca PLC	4.39
Eli Lilly & Co	3.17
Sanofi	2.98
Merck & Co Inc	2.93
Abbott Laboratories	2.80
AbbVie Inc	2.57
Novartis AG (ADR)	2.49
Thermo Fisher Scientific Inc	2.37
Boston Scientific Corp	2.28
Total	32.17
View full holdings

Portfolio Characteristics (As of 04/30/2023)

	FUND	INDEX
Number of Holdings Equity Issues	127	142
Market Capitalization Weighted Average	$127.30B	$172.68B
Portfolio Turnover Rate (1-year trailing)	31.61%	-
Price/Earnings Ratio (1-year forward)	17.59	17.57
Price/Book Ratio	4.57	4.30
Earnings Growth Rate (1-year forward)	11.01%	6.64%

Sector Allocation	% OF FUND	% of Index	% OF FUND	% of Index	(As of 04/30/2023)

Regional Allocation	% OF FUND	% of Index	% OF FUND	% of Index	(As of April 30, 2023)

Market Capitalization Range of Equity Holdings	% OF FUND	% of Index	% OF FUND	% of Index	(As of 04/30/2023)

Developed vs Emerging Markets	% OF FUND	% of Index	% OF FUND	% of Index	(As of April 30, 2023)

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JNGLX Global Life Sciences Fund