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HFOCX

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International Opportunities Fund

Applying Regional Expertise to International Equity Investing
NAV As of 08/16/19 $22.08

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Fund Facts

Details Performance (As of 08/16/19) Morningstar (As of 07/31/19)
08/31/01 Inception Date
$1.94B Total Net Assets (As of 07/31/19)
GROSS 2.00%
NET 2.00%
Annual Expense Ratio
(As of fiscal year end 09/30/18)
1.19% 1 Day Return
12.94% YTD Return @NAV
11.94% YTD Return @CDSC
Category
Foreign Large Blend
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

An international equity fund that seeks long-term growth of capital. The Fund employs a multi-sub-portfolio approach where each underlying sub-portfolio management team is able to focus on their highest-conviction ideas.

Why Invest in the Fund

    Multi-Manager Approach

  1. The Fund is managed by six portfolio management teams focused on specific areas of sector or geographical expertise. The Fund primarily invests in equities listed on European, Australasian and Far Eastern (EAFE) exchanges.
  2. Concentrated Regional Exposure

  3. Each underlying manager selects approximately 10 to 15 of their best ideas for the portfolio. By harnessing geographical and specialist expertise, we seek to identify opportunities overlooked by a generalist approach.
  4. Bottom-Up Stock Selection

  5. We believe that stock selection and fundamental research drive returns. The regional asset allocation and currency exposures are actively managed. Changes to the sub-portfolio allocation are made gradually and macro calls are expected to be a smaller component of return relative to stock selection.

Featured Insights

Performance

RETURNS

(As of 06/30/2019)
(As of 07/31/2019)
Inception: Aug 31, 2001 3M YTD 1YR 3YR 5YR 10YR Since Inception
Class C Shares @NAV 3.96% 16.83% -0.59% 5.29% 1.24% 4.92% 7.04%
Class C Shares @CDSC 2.96% 15.83% -1.45% 5.29% 1.24% 4.92% 7.04%
MSCI EAFE® Index 3.68% 14.03% 1.08% 9.11% 2.25% 6.90% 5.41%
Inception: Aug 31, 2001 3M YTD 1YR 3YR 5YR 10YR Since Inception
Class C Shares @NAV -0.53% 16.06% -3.88% 3.03% 1.22% 4.15% 6.97%
Class C Shares @CDSC -1.52% 15.06% -4.71% 3.03% 1.22% 4.15% 6.97%
MSCI EAFE® Index -0.44% 12.58% -2.60% 6.87% 2.39% 5.84% 5.31%
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.
CDSC returns include a 1% contingent deferred sales charge (CDSC) on Shares redeemed within 12 months of purchase. Net Asset Value (NAV) returns exclude this charge, which would have reduced returns.
View Fees and Expenses
Performance for Class C 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.

MORNINGSTAR PERCENTILE

(As of 06/30/2019)
(As of 07/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 63 95 79 90 7
Foreign Large Blend Category
Rank/Count
423/740 642/681 433/592 453/503 31/332
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 51 97 81 88 7
Foreign Large Blend Category
Rank/Count
331/737 658/684 458/594 437/500 31/331

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 EAFE® INDEX

3 YEAR 5 YEAR
Information Ratio -0.88 -0.04
Alpha -3.35 -0.06
Tracking Error 3.20 3.64
Beta 1.13 1.00
R-Squared (%) 94.77 91.90

UP AND DOWN MARKET CAPTURE (%)
VS. MSCI EAFE® INDEX

3 YEAR 5 YEAR
Up Capture Ratio 96.98 96.09
Down Capture Ratio 116.76 96.95

STANDARD DEVIATION

3 YEAR 5 YEAR
International Opportunities Fund 12.57 12.79
MSCI EAFE® Index 10.84 12.26

SHARPE RATIO

3 YEAR 5 YEAR
International Opportunities Fund 0.21 0.11
MSCI EAFE® Index 0.50 0.12

ANNUAL FEES & EXPENSES

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

CLASS C SHARES
Management Fees 0.89%
12b-1 Fees 1.00%
Other Expenses 0.11%
Total Gross Expenses 2.00%
Waivers 0.00%
Total Net Expenses 2.00%
Information Regarding Sales Charge Reductions and Waivers
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 2/1/20.

Characteristics

Index represents the MSCI EAFE® Index.

TOP HOLDINGS

(As of 07/31/2019)

% of Fund
Koninklijke Philips NV 3.04
RELX PLC 2.89
SAP SE 2.85
Bayer AG 2.85
Novo Nordisk A/S 2.82
Assa Abloy AB 2.79
Toyota Motor Corp 2.45
BP PLC 2.43
Credit Agricole SA 2.40
UniCredit SpA 2.36
TOTAL 26.88

PORTFOLIO CHARACTERISTICS

(As of 07/31/19)

FUND INDEX
Number of Holdings
Equity Issues
70
923
Market Capitalization
Weighted Average
$104.38B
$64.46B
Portfolio Turnover Rate
(1-year trailing)
52.65%
-
Price/Earnings Ratio
(1-year forward)
19.64
17.73
Price/Book Ratio
(1-year forward)
3.01
2.46
Earnings Growth Rate
(1-year forward)
7.67%
6.00%

SECTOR ALLOCATION

(As of 07/31/19)

% OF FUND % OF INDEX
Financials 18.64 18.65
Health Care 14.77 11.33
Information Technology 13.01 6.77
Communication Services 12.43 5.48
Industrials 10.84 14.72
Consumer Staples 10.29 11.89
Consumer Discretionary 8.61 11.24
Energy 4.35 5.37
Materials 3.77 7.23
Real Estate 1.30 3.58
Utilities 0.26 3.74
Cash & Equivalents 1.73 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 07/31/2019)

% OF FUND % OF INDEX
Over $100B 27.45 20.40
$50B to $100B 17.05 19.00
$10B to $50B 41.10 45.00
$5B to $10B 7.65 11.93
$1B to $5B 2.57 3.03
Under $100M 1.02 -
N/A 1.43 0.64

REGIONAL ALLOCATION

(As of 07/31/19)

% OF FUND % OF INDEX
Europe 43.61 62.52
Asia/Pacific Ex Japan 23.00 12.71
Japan 20.43 24.01
North America 8.95 0.16
Africa/Mideast 1.27 0.60
Latin America 1.01 -
Cash & Equivalents 1.73 -

Commentary & Literature