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JOLIX

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Emerging Markets Managed Volatility Fund

Dynamic Beta for Managing Equity Volatility
NAV As of 12/14/18 $11.25

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Fund Facts

Details Performance (As of 12/14/18) Morningstar (As of 11/30/18)
12/17/14 Inception Date
$7.44M Total Net Assets (As of 11/30/18)
GROSS 4.79%
NET 1.08%
Annual Expense Ratio
(As of fiscal year end 06/30/18)
Morningstar Fee Level (As of 11/30/18)
Fee Level Group
Emerging Markets Stock Institutional
(out of 361 funds)
Morningstar Fee Level Below Average
View Morningstar Fee Level
-0.71% 1 Day Return
-5.54% YTD Return
Category
Diversified Emerging Mkts
ic_star ic_star ic_star ic_star
710 Funds Rated
Overall Rating
(Based on risk-adjusted returns)
LARGE VALUE
LARGE BLEND
LARGE GROWTH
MID VALUE
MID BLEND
MID GROWTH
SMALL VALUE
SMALL BLEND
SMALL GROWTH
Equity Style Box *
Important Morningstar Information

Overview

Client Commitment

This emerging markets equity fund seeks smaller drawdowns and a smoother ride over time by balancing downside mitigation with upside participation for any market environment. The Fund employs a systematic “dynamic beta” investment approach designed to adjust to changing risk environments, seeking up to 45% less volatility versus the MSCI Emerging Markets IndexSM.

Why Invest in the Fund

    Dynamic Beta Positioning

  1. As risk in the market increases, the portfolio shifts to take a more defensive posture, targeting a lower beta than the index. When risk levels decrease, the portfolio migrates to a more market-like stance, targeting a higher beta, allowing for the full potential to benefit from the upward trend in the market.
  2. 30+ Years of Volatility Research

  3. The Intech® dedicated volatility management team, with more than 30 years’ experience, is comprised of experts who have dedicated their life’s work, academic research and careers to developing this disciplined, repeatable and unemotional process based on the sole input of Volatility.
  4. Focus on Risk-Adjusted Return

  5. Our process is designed to construct a portfolio of long-only stocks with the highest return potential and lowest risk. By seeking a smoother ride in a notoriously volatile asset class, the Fund may help investors maintain equity market exposure and have the opportunity to build more wealth over time.

Navigating Many Different Market Environments

3 Year Fund and Benchmark Cumulative Returns (as of 9/30/18)

Past performance is no guarantee of future results.

Featured Insights

Performance

RETURNS

(As of 09/30/2018)
(As of 11/30/2018)
Inception: Dec 17, 2014 3M YTD 1YR 3YR 5YR 10YR Since Inception
Emerging Markets Managed Volatility Fund – I Shares 1.37% -0.92% 5.23% 9.92% - - 5.83%
MSCI Emerging Markets Index℠ -1.09% -7.68% -0.81% 12.36% 3.61% 5.40% 6.10%
Inception: Dec 17, 2014 3M YTD 1YR 3YR 5YR 10YR Since Inception
Emerging Markets Managed Volatility Fund – I Shares -4.29% -4.45% -0.09% 8.72% - - 4.61%
MSCI Emerging Markets Index℠ -5.45% -12.24% -9.09% 9.41% 1.90% 9.13% 4.48%
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

MORNINGSTAR PERCENTILE

(As of 09/30/2018)
(As of 11/30/2018)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 3 58 - - 27
Diversified Emerging Mkts Category
Rank/Count
18/860 467/792 -/- -/- 218/730
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 2 30 - - 21
Diversified Emerging Mkts Category
Rank/Count
14/867 202/791 -/- -/- 161/731

CALENDAR YEAR PERFORMANCE

RETURNS-BASED STATISTICS

(As of 11/30/18 CLASS I SHARES)

RISK / REWARD
VS. MSCI EMERGING MARKETS INDEX℠

3 YEAR 5 YEAR
Information Ratio -0.13 -
Alpha 1.63 -
Tracking Error 5.43 -
Beta 0.74 -
R-Squared (%) 89.30 -

UP AND DOWN MARKET CAPTURE (%)
VS. MSCI EMERGING MARKETS INDEX℠

3 YEAR 5 YEAR
Up Capture Ratio 73.05 -
Down Capture Ratio 66.55 -

STANDARD DEVIATION

3 YEAR 5 YEAR
Emerging Markets Managed Volatility Fund 11.49 -
MSCI Emerging Markets Index℠ 14.78 15.15

SHARPE RATIO

3 YEAR 5 YEAR
Emerging Markets Managed Volatility Fund 0.68 -
MSCI Emerging Markets Index℠ 0.57 0.09

ANNUAL FEES & EXPENSES

(As of Fiscal Year End, 06/30/18)

CLASS I SHARES
Management Fees 0.94%
12b-1 Fees -
Other Expenses 3.85%
Total Gross Expenses 4.79%
Waivers -3.71%
Total Net Expenses 1.08%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 11/1/19.

Characteristics

Index represents the MSCI Emerging Markets Index℠.

TOP HOLDINGS

(As of 11/30/2018)

Banco de Chile
Bank Central Asia Tbk PT
CP ALL PCL
Chunghwa Telecom Co Ltd
Far EasTone Telecommunications Co Ltd
First Abu Dhabi Bank PJSC
Malayan Banking Bhd
Public Bank Bhd
Taiwan Mobile Co Ltd
Tenaga Nasional Bhd
TOTAL 21.68

PORTFOLIO CHARACTERISTICS

(As of 11/30/18)

FUND INDEX
Number of Holdings
Equity Issues
263
1150
Market Capitalization
Weighted Average
$20.51B
$84.37B
Portfolio Turnover Rate
(1-year trailing)
120.37%
-
Price/Earnings Ratio
(1-year forward)
20.49
16.48
Price/Book Ratio
(1-year forward)
3.24
2.89
Earnings Growth Rate
(1-year forward)
10.06%
11.24%

DEVELOPED VS. EMERGING MARKET

(As of 11/30/18)

% OF FUND % OF INDEX
Non-U.S. Emerging 99.18 99.91
Cash & Equivalents 0.82 -

SECTOR ALLOCATION

(As of 11/30/18)

% OF FUND % OF INDEX
Financials 23.17 24.66
Consumer Staples 17.57 6.56
Communication Services 14.13 14.01
Utilities 8.73 2.61
Consumer Discretionary 7.86 10.47
Energy 6.43 8.22
Industrials 6.07 5.48
Health Care 5.45 2.91
Materials 4.51 7.45
Information Technology 3.73 14.61
Real Estate 1.53 3.02
Cash & Equivalents 0.82 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 11/30/2018)

% OF FUND % OF INDEX
Over $100B 2.79 24.31
$25B to $100B 18.69 20.95
$15B to $25B 16.92 12.24
$2B to $15B 59.47 37.06
Under $2B 0.63 1.61
N/A 0.68 3.83

REGIONAL ALLOCATION

(As of 11/30/18)

% OF FUND % OF INDEX
Asia/Pacific Ex Japan 76.47 73.47
Africa/Mideast 8.05 7.96
Latin America 7.58 12.04
Europe 7.08 6.53
Cash & Equivalents 0.82 -

Commentary & Literature