(

JATIX

)

Global Technology Fund

Investing in Companies that Benefit from Technology Innovation
NAV As of 04/22/19 $37.25

Jump to a section

Fund Facts

Details Performance (As of 04/22/19) Morningstar (As of 03/31/19)
12/31/98 Inception Date
$3.03B Total Net Assets (As of 03/31/19)
GROSS 0.75%
NET 0.75%
Annual Expense Ratio
(As of fiscal year end 09/30/18)
Morningstar Fee Level (As of 03/31/19)
Fee Level Group
Specialty Institutional
(out of 421 funds)
Morningstar Fee Level Low
View Morningstar Fee Level
0.51% 1 Day Return
26.61% YTD Return
Category
Technology
ic_star ic_star ic_star ic_star
186 Funds Rated
Overall Rating
(Based on risk-adjusted returns)
bronze Analyst Rating
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 global growth fund invests in companies that create and benefit from advances in technology. We invest in companies we believe to be resilient and also take smaller positions in companies that have optionality—meaning large potential upside under a specific scenario. The Fund seeks to provide strong long-term returns with volatility characteristics on par with its peers.

Why Invest in the Fund

    Finding Growth Through Innovation

  1. Technology is dramatically impacting every sector of the global economy. The Fund seeks to invest in growth companies driving this innovation or benefiting from advances in technology. Common characteristics of an investment include a culture of innovation, long-term focus and attractive relative valuation.
  2. Dedicated Sector Experts

  3. Our dedicated team of technology analysts is embedded deeply within the sector, approaching research as an industry participant. In this complex and rapidly growing sector, it is critical to have experienced investors working to evaluate the impact of disruptive technologies and actively aim to identify both winners and losers.
  4. Deep and Disciplined

  5. The Fund takes a thoughtful approach to portfolio construction as the managers invest in companies believed to be resilient, as well as smaller positions in companies that have optionality—meaning large potential upside under a specific scenario. Through deep research and disciplined portfolio construction, the Fund seeks to deliver strong, risk-adjusted returns over time.

Disciplined Portfolio Construction Seeking to Balance Risk

**Predicted Risk Contribution is calculated using the Barra risk model, which is multi-factor and based on long-term trends with the most weight given to the more recent data.

Featured Insights

Performance

RETURNS

(As of 03/31/2019)
(As of 03/31/2019)
Inception: Dec 31, 1998 3M YTD 1YR 3YR 5YR 10YR Since Inception
Global Technology Fund – I Shares 21.38% 21.38% 13.71% 26.79% 18.39% 20.85% 9.28%
S&P 500® Index 13.65% 13.65% 9.50% 13.51% 10.91% 15.92% 6.22%
MSCI All Country World Information Technology Index 18.80% 18.80% 8.46% 20.59% 15.69% 17.64% 5.66%
Inception: Dec 31, 1998 3M YTD 1YR 3YR 5YR 10YR Since Inception
Global Technology Fund – I Shares 21.38% 21.38% 13.71% 26.79% 18.39% 20.85% 9.28%
S&P 500® Index 13.65% 13.65% 9.50% 13.51% 10.91% 15.92% 6.22%
MSCI All Country World Information Technology Index 18.80% 18.80% 8.46% 20.59% 15.69% 17.64% 5.66%
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 I Shares that includes periods prior to 7/6/09 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 concerning historical performance.

MORNINGSTAR PERCENTILE

(As of 03/31/2019)
(As of 03/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 37 13 22 23 15
Technology Category
Rank/Count
68/222 21/198 34/189 30/180 20/97
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 37 13 22 23 15
Technology Category
Rank/Count
68/222 21/198 34/189 30/180 20/97

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 03/31/19 CLASS I SHARES)

RISK / REWARD
VS. MSCI ALL COUNTRY WORLD INFORMATION TECHNOLOGY INDEX

3 YEAR 5 YEAR
Information Ratio 1.49 0.62
Alpha 5.38 1.99
Tracking Error 4.15 4.34
Beta 1.00 1.03
R-Squared (%) 91.93 92.01

UP AND DOWN MARKET CAPTURE (%)
VS. MSCI ALL COUNTRY WORLD INFORMATION TECHNOLOGY INDEX

3 YEAR 5 YEAR
Up Capture Ratio 105.16 105.45
Down Capture Ratio 68.95 92.50

STANDARD DEVIATION

3 YEAR 5 YEAR
Global Technology Fund 14.61 15.26
MSCI All Country World Information Technology Index 14.07 14.16

SHARPE RATIO

3 YEAR 5 YEAR
Global Technology Fund 1.75 1.16
MSCI All Country World Information Technology Index 1.38 1.06

ANNUAL FEES & EXPENSES

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

CLASS I SHARES
Management Fees 0.64%
12b-1 Fees -
Other Expenses 0.11%
Total Gross Expenses 0.75%
Waivers 0.00%
Total Net Expenses 0.75%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 2/1/20.

Characteristics

Index represents the MSCI All Country World Information Technology Index℠.

TOP HOLDINGS

(As of 03/31/2019)

% of Fund
Microsoft Corp 7.01
Alphabet Inc 5.99
Alibaba Group Holding Ltd (ADR) 4.33
salesforce.com Inc 3.43
Texas Instruments Inc 3.33
Mastercard Inc 3.27
Adobe Inc 3.09
Amazon.com Inc 2.94
Taiwan Semiconductor Manufacturing Co Ltd 2.90
Gartner Inc 2.57
TOTAL 38.86

PORTFOLIO CHARACTERISTICS

(As of 03/31/19)

FUND INDEX
Number of Holdings
Equity Issues
74
247
Market Capitalization
Weighted Average
$253.17B
$308.11B
Portfolio Turnover Rate
(1-year trailing)
29.44%
-
Price/Earnings Ratio
(1-year forward)
36.46
22.23
Price/Book Ratio
(1-year forward)
9.77
7.41
Earnings Growth Rate
(1-year forward)
9.40%
4.50%

DEVELOPED VS. EMERGING MARKET

(As of 03/31/19)

% OF FUND % OF INDEX
U.S. 78.27 76.00
Non-U.S. Emerging 13.64 10.89
Non-U.S. Developed 6.33 13.11
Cash & Equivalents 1.76 -

SECTOR ALLOCATION

(As of 03/31/19)

% OF FUND % OF INDEX
Information Technology 67.64 100.00
Communication Services 14.25 -
Consumer Discretionary 10.45 -
Real Estate 4.61 -
Industrials 1.29 -
Cash & Equivalents 1.76 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 03/31/2019)

% OF FUND % OF INDEX
Over $100B 45.63 59.79
$50B to $100B 11.28 6.45
$10B to $50B 27.17 27.84
$5B to $10B 9.70 3.87
$1B to $5B 3.50 1.58
N/A 0.96 0.47

REGIONAL ALLOCATION

(As of 03/31/19)

% OF FUND % OF INDEX
North America 79.04 76.96
Asia/Pacific Ex Japan 13.19 11.02
Europe 3.18 6.60
Latin America 1.04 0.04
Japan 0.91 4.98
Africa/Mideast 0.88 0.40
Cash & Equivalents 1.76 -

Commentary & Literature

1Q19 Portfolio Commentary Highlights

  • Technology stocks rebounded, as calmer conditions prevailed and investors seemed to grow more comfortable with the U.S.-China trade dispute.
  • The Fund outperformed its benchmark, with cloud-computing names among the key drivers of outperformance.
  • We believe that the secular themes of the cloud, artificial intelligence and the Internet of Things will help reshape the global economy and drive sector earnings growth.

Read The Full Commentary