For Individual Investors in the US

HDDVX Responsible International Dividend Fund

International dividend income portfolio with defined ESG criteria

Buy/Trade

NAV
$13.82
As of 09/21/2023

1-Day Change
-$0.16 (-1.14%)
 As of 09/21/2023

YTD Return
7.71%
As of 09/21/2023

Morningstar Rating

As of 08/31/2023

Overview

ABOUT THIS FUND

This bottom-up, valuation-driven portfolio seeks to identify companies with long term profit potential and produce attractive levels of dividend income. The team employs a fundamental stock selection process with a focus on companies that pay sustainable dividend yield with the ability to grow over time. Investment decisions utilize a responsible approach by incorporating environmental, social and governance (ESG) factors into selection/avoidance criteria.

WHY INVEST IN THIS FUND

Income and Capital Growth:
We seek to provide an attractive, responsibly-sourced level of income from a portfolio of undervalued international equities.

Responsibly Minded:
Our approach combines defined avoidance criteria with a focus on ESG factors, seeking strong, risk-adjusted returns.

Research-led idea generation:
Stock selection ideas are rooted in the accumulated knowledge from the Janus Henderson Global Equity Income team who share a common approach of being dividend-seeking, valuation-focused investors across international regions and markets.

PORTFOLIO MANAGEMENT

Ben Lofthouse, CFA

Ben Lofthouse, CFA

Head of Global Equity Income | Portfolio Manager

Industry since 1998. Joined Firm in 2004.

Faizan Baig, CFA

Faizan Baig, CFA

Portfolio Manager

Industry since 2007. Joined Firm in 2015.

Performance

RETURNS (%) (As of 08/31/2023)
Responsible International Dividend Fund - Class D Shares MSCI World ex-USA Index MSCI World IndexSM
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(08/01/2012)
Responsible International Dividend Fund - Class D Shares 1.45 9.19 17.19 6.69 4.94 5.95 6.71
MSCI World ex-USA Index 3.96 10.45 16.45 6.28 4.31 4.91 6.18
MSCI World IndexSM 6.99 16.11 15.60 8.41 8.33 9.28 10.20
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 06/30/2023)
Responsible International Dividend Fund - Class D Shares MSCI World ex-USA Index MSCI World IndexSM
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(08/01/2012)
Responsible International Dividend Fund - Class D Shares 2.74 11.53 17.71 9.56 5.75 6.50 7.03
MSCI World ex-USA Index 3.03 11.29 17.41 9.31 4.58 5.40 6.35
MSCI World IndexSM 6.83 15.09 18.51 12.18 9.07 9.51 10.28
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 (%)
Responsible International Dividend Fund - Class D Shares MSCI World ex-USA Index
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Responsible International Dividend Fund - Class D Shares -8.64 11.65 5.15 18.71 -9.13 17.62 4.34 1.59 1.01 20.71
MSCI World ex-USA Index -14.29 12.62 7.59 22.49 -14.09 24.21 2.75 -3.04 -4.32 21.02
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
CLASS D SHARES
Management Fees 0.75%
Other Expenses 0.39%
Total Gross Expenses 1.14%
Waivers -0.15%
Total Net Expenses 0.99%
Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on October 28, 2022. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the MSCI World ex-US Index

Top Holdings (As of 08/31/2023)
% of Fund
RELX PLC 4.33
Nestle SA 4.31
Novo Nordisk A/S 3.92
Unilever PLC 3.45
Schneider Electric SE 3.43
AstraZeneca PLC 3.32
Taiwan Semiconductor Manufacturing Co Ltd (ADR) 3.31
SAP SE 3.09
Sanofi 3.07
Daimler Truck Holding AG 3.03
Total 35.26
View full holdings
Portfolio Characteristics (As of 08/31/2023)
  FUND INDEX
Number of Holdings
Equity Issues		 41 885
Number of Holdings
Debt Issues		 0 0
Market Capitalization
Weighted Average		 $200.02B $68.34B
Portfolio Turnover Rate
(1-year trailing)		 59.89% -
Price/Earnings Ratio
(1-year forward)		 14.25 12.94
Price/Book Ratio
 2.65 1.75
Earnings Growth Rate
(1-year forward)		 10.55% 11.30%
Weighted Average Maturity
(years)		 0.11 0.11
Effective Duration
(years)		 0.00 0.00
Regional Allocation % OF FUND % of Index % OF FUND % of Index (As of August 31, 2023)
Market Capitalization Range of Equity Holdings % OF FUND % of Index % OF FUND % of Index (As of 08/31/2023)

Documents

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Our intellectual capital is readily available and central to our Knowledge Shared approach"
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