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JDWRX

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Global Research Fund

Global Large-Cap Growth Utilizing Our Analysts' Best Ideas
NAV As of 08/16/19 $78.55

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Fund Facts

Details Performance (As of 08/16/19) Morningstar (As of 07/31/19)
02/25/05 Inception Date
$2.82B Total Net Assets (As of 07/31/19)
GROSS 1.31%
NET 1.31%
Annual Expense Ratio
(As of fiscal year end 09/30/18)
Morningstar Fee Level (As of 07/31/19)
Fee Level Group
World Stock Retirement, Medium
(out of 80 funds)
Morningstar Fee Level Below Average
View Morningstar Fee Level
1.32% 1 Day Return
14.04% YTD Return
Category
World Large Stock
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

By investing in the best ideas from each global research sector team, this global large-cap growth fund seeks long-term growth of capital with volatility similar to its peers. Our analysts scour the globe to identify industry-leading companies with brand power, enduring business models and strong competitive positioning.

    Why Invest in the Fund

    Managed by Sector Experts

  1. Our teams of dedicated sector specialists conduct independent, differentiated research to construct unique sector portfolios that are combined to form a diversified fund. This design allows investors to benefit directly from the insights and expertise of our equity research team.
  2. Pure Stock Picking Approach

  3. Each of our experienced global sector teams builds a high-conviction portfolio of their best ideas, regardless of market cap, geography or sub-sector. All ideas and position sizes are debated and fully vetted before entry into the portfolio.
  4. Minimize the Macro

  5. This Fund’s disciplined investment process is designed to minimize macro risks by aligning sector allocations with the benchmark. This allows fundamental, bottom-up stock selection within each sector to be the primary driver of returns.

Portfolio Management

Featured Insights

Performance

RETURNS

(As of 06/30/2019)
(As of 07/31/2019)
Inception: Feb 25, 2005 3M YTD 1YR 3YR 5YR 10YR Since Inception
Global Research Fund – R Shares 4.33% 17.80% 6.62% 12.63% 6.50% 10.87% 8.39%
MSCI World Index℠ 4.00% 16.98% 6.33% 11.77% 6.60% 10.72% 6.54%
MSCI All Country World Index℠ 3.61% 16.23% 5.74% 11.62% 6.16% 10.15% 6.46%
Inception: Feb 25, 2005 3M YTD 1YR 3YR 5YR 10YR Since Inception
Global Research Fund – R Shares -0.12% 17.64% 3.05% 10.88% 6.86% 9.92% 8.33%
MSCI World Index℠ 0.94% 17.56% 3.62% 10.42% 7.05% 9.87% 6.53%
MSCI All Country World Index℠ 0.52% 16.57% 2.95% 10.17% 6.48% 9.25% 6.44%
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 R Shares that includes periods prior to 3/15/13 reflects the performance of one or more share classes of the Fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details concerning historical performance.

MORNINGSTAR PERCENTILE

(As of 06/30/2019)
(As of 07/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 38 27 38 42 9
World Large Stock Category
Rank/Count
320/887 244/787 281/701 212/508 43/359
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 41 29 39 42 9
World Large Stock Category
Rank/Count
337/896 255/795 291/702 216/511 43/359

CALENDAR YEAR PERFORMANCE

GROWTH OF A $10,000 HYPOTHETICAL INVESTMENT

Source: Morningstar, Inc.
This graph compares fund performance to that of the fund’s Morningstar category average and benchmark(s).

RETURNS-BASED STATISTICS

(As of 07/31/19 CLASS I SHARES)

RISK / REWARD
VS. MSCI WORLD INDEX℠

3 YEAR 5 YEAR
Information Ratio 0.42 0.19
Alpha 0.88 0.31
Tracking Error 2.98 3.03
Beta 1.03 1.04
R-Squared (%) 93.83 94.32

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

3 YEAR 5 YEAR
Up Capture Ratio 107.14 106.92
Down Capture Ratio 101.44 105.13

STANDARD DEVIATION

3 YEAR 5 YEAR
Global Research Fund 11.89 12.53
MSCI World Index℠ 11.16 11.67

SHARPE RATIO

3 YEAR 5 YEAR
Global Research Fund 0.86 0.54
MSCI World Index℠ 0.81 0.53

ANNUAL FEES & EXPENSES

(As of Fiscal Year End, 09/30/18)

CLASS R SHARES
Management Fees 0.50%
12b-1 Fees 0.50%
Other Expenses 0.31%
Total Gross Expenses 1.31%
Waivers 0.00%
Total Net Expenses 1.31%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 2/1/20.

Characteristics

Index represents the MSCI World Index℠.

TOP HOLDINGS

(As of 07/31/2019)

% of Fund
Microsoft Corp 3.23
Amazon.com Inc 2.78
JPMorgan Chase & Co 2.27
Alphabet Inc 2.23
Mastercard Inc 2.10
Visa Inc 2.02
ASML Holding NV 1.99
Constellation Brands Inc 1.78
Safran SA 1.77
Unilever NV 1.73
TOTAL 21.90

PORTFOLIO CHARACTERISTICS

(As of 07/31/19)

FUND INDEX
Number of Holdings
Equity Issues
99
1651
Market Capitalization
Weighted Average
$174.23B
$172.53B
Portfolio Turnover Rate
(1-year trailing)
36.45%
-
Price/Earnings Ratio
(1-year forward)
22.25
19.94
Price/Book Ratio
(1-year forward)
6.29
4.34
Earnings Growth Rate
(1-year forward)
9.08%
5.53%

DEVELOPED VS. EMERGING MARKET

(As of 07/31/19)

% OF FUND % OF INDEX
U.S. 63.65 62.94
Non-U.S. Developed 30.35 37.00
Non-U.S. Emerging 5.47 0.06
Cash & Equivalents 0.53 -

RESEARCH SECTOR ALLOCATION

(As of 07/31/19)

% OF FUND % OF INDEX
Technology 21.55 21.21
Financials 21.12 21.19
Consumer 18.28 18.84
Industrials & Materials 17.19 17.47
Health Care 12.75 12.52
Energy & Utilities 8.58 8.77
Cash & Equivalents 0.53 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 07/31/2019)

% OF FUND % OF INDEX
Over $100B 38.85 39.96
$50B to $100B 21.45 16.17
$10B to $50B 32.53 35.89
$5B to $10B 5.48 6.53
$1B to $5B 1.16 1.23

REGIONAL ALLOCATION

(As of 07/31/19)

% OF FUND % OF INDEX
North America 66.77 66.35
Europe 20.04 21.15
Asia/Pacific Ex Japan 8.49 4.24
Japan 4.17 8.00
Cash & Equivalents 0.53 -

Commentary & Literature

2Q19 Portfolio Commentary Highlights

  • Stocks gained ground in the second quarter, but were volatile.
  • The Fund outperformed its benchmarks during the period.
  • We believe compelling, long-term growth opportunities can continue to be found throughout the market’s sectors.

Read The Full Commentary