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HIZCX

)

International Small Cap Fund

A Value-Oriented Approach to International Small Caps
NAV As of 12/07/18 $10.01

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Fund Facts

Details Performance (As of 12/07/18) Morningstar (As of 11/30/18)
12/15/16 Inception Date
$9.88M Total Net Assets (As of 10/31/18)
GROSS 3.73%
NET 2.08%
Annual Expense Ratio
(As of fiscal year end 09/30/17)
Morningstar Fee Level (As of 11/30/18)
Fee Level Group
Foreign Small/Mid Cap Level Load
(out of 40 funds)
Morningstar Fee Level Below Average
View Morningstar Fee Level
-1.09% 1 Day Return
-23.94% YTD Return @NAV
-24.70% YTD Return @CDSC
Category
Foreign Small/Mid 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 small-cap fund that uses fundamental analysis and bottom-up research to uncover attractively valued companies. The Fund uses a value-oriented approach to identify companies believed to be mispriced by the market and that have the potential to outperform the market over the long term.

Why Invest in the Fund

    Screening-based approach

  1. A fundamental investment screening process suited to the broad international small-cap universe.
  2. Focus on quality

  3. Managers seek to identify high-return business models priced at a level that does not reflect their intrinsic value or future prospects.
  4. Seasoned value strategy

  5. The investment process, developed over more than 28 years, is designed to eliminate market noise to help identify stocks offering the biggest discount to fair value. Entry point is crucial.

Featured Insights

Performance

RETURNS

(As of 09/30/2018)
(As of 11/30/2018)
Inception: Dec 15, 2016 3M YTD 1YR 3YR 5YR 10YR Since Inception
Class C Shares @NAV -2.32% -7.07% -2.04% - - - 14.58%
Class C Shares @CDSC -3.29% -8.00% -2.96% - - - 14.58%
MSCI EAFE Small Cap Index Net -0.88% -2.19% 3.73% 12.39% 7.96% 9.68% 17.49%
Inception: Dec 15, 2016 3M YTD 1YR 3YR 5YR 10YR Since Inception
Class C Shares @NAV -15.33% -21.12% -19.88% - - - 4.16%
Class C Shares @CDSC -16.18% -21.91% -20.64% - - - 4.16%
MSCI EAFE Small Cap Index Net -10.91% -12.23% -9.89% 6.31% 4.92% 11.98% 9.65%
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.

ANNUAL FEES & EXPENSES

(As of Fiscal Year End, 09/30/17)

CLASS C SHARES
Management Fees 0.99%
12b-1 Fees 1.00%
Other Expenses 1.74%
Total Gross Expenses 3.73%
Waivers -1.65%
Total Net Expenses 2.08%
Information Regarding Sales Charge Reductions and Waivers
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 2/1/19.

Characteristics

Index represents the MSCI EAFE Small Cap Index.

TOP HOLDINGS

(As of 10/31/2018)

% of Fund
Redrow PLC 3.25
en-japan Inc 3.12
Storebrand ASA 3.04
Nine Entertainment Co Holdings Ltd 2.75
Metcash Ltd 2.42
Ence Energia y Celulosa SA 2.32
Metropole Television SA 2.20
Penta-Ocean Construction Co Ltd 2.16
Gaztransport Et Technigaz SA 2.10
Electrocomponents PLC 2.10
TOTAL 25.46

PORTFOLIO CHARACTERISTICS

(As of 10/31/18)

FUND INDEX
Number of Holdings
Equity Issues
71
2337
Market Capitalization
Weighted Average
$2.09B
$2.52B
Portfolio Turnover Rate
(1-year trailing)
139.14%
-
Price/Earnings Ratio
(1-year forward)
14.06
18.15
Price/Book Ratio
(1-year forward)
2.77
2.25
Earnings Growth Rate
(1-year forward)
13.87%
6.74%

DEVELOPED VS. EMERGING MARKET

(As of 10/31/18)

% OF FUND % OF INDEX
Non-U.S. Developed 98.57 99.97
Cash & Equivalents 1.43 -

SECTOR ALLOCATION

(As of 10/31/18)

% OF FUND % OF INDEX
Industrials 23.71 21.58
Consumer Discretionary 23.11 13.17
Information Technology 11.18 9.44
Materials 10.81 8.51
Financials 8.43 11.66
Consumer Staples 6.47 6.85
Communication Services 6.04 4.65
Energy 4.25 2.99
Utilities 1.82 2.13
Real Estate 1.54 11.46
Health Care 1.21 7.56
Cash & Equivalents 1.43 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 10/31/2018)

% OF FUND % OF INDEX
$5B to $10B 4.53 10.19
$1B to $5B 72.24 70.28
$500M to $1B 14.51 14.62
$250M to $500M 7.29 4.25

REGIONAL ALLOCATION

(As of 10/31/18)

% OF FUND % OF INDEX
Europe 50.52 55.31
Japan 30.67 31.28
Asia/Pacific Ex Japan 17.38 11.38
Cash & Equivalents 1.43 -

Commentary & Literature