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HIZIX

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International Small Cap Fund

A Value-Oriented Approach to International Small Caps
NAV As of 08/20/19 $10.04

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Fund Facts

Details Performance (As of 08/20/19) Morningstar (As of 07/31/19)
12/15/16 Inception Date
$9.00M Total Net Assets (As of 07/31/19)
GROSS 5.65%
NET 1.00%
Annual Expense Ratio
(As of fiscal year end 09/30/18)
Morningstar Fee Level (As of 07/31/19)
Fee Level Group
Foreign Small/Mid Cap Institutional
(out of 112 funds)
Morningstar Fee Level Below Average
View Morningstar Fee Level
0.30% 1 Day Return
7.96% YTD Return
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 06/30/2019)
(As of 07/31/2019)
Inception: Dec 15, 2016 3M YTD 1YR 3YR 5YR 10YR Since Inception
International Small Cap Fund – I Shares 2.40% 14.52% -11.84% - - - 6.31%
MSCI EAFE Small Cap Index Net 1.71% 12.55% -6.35% 9.06% 4.40% 9.67% 9.56%
Inception: Dec 15, 2016 3M YTD 1YR 3YR 5YR 10YR Since Inception
International Small Cap Fund – I Shares -3.72% 11.29% -14.66% - - - 4.95%
MSCI EAFE Small Cap Index Net -1.97% 11.75% -7.61% 6.67% 4.75% 8.79% 8.95%
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 6/5/17 reflects the performance of one or more share classes 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, 09/30/18)

CLASS I SHARES
Management Fees 0.99%
12b-1 Fees -
Other Expenses 4.66%
Total Gross Expenses 5.65%
Waivers -4.65%
Total Net Expenses 1.00%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 2/1/20.

Characteristics

Index represents the MSCI EAFE Small Cap Index.

TOP HOLDINGS

(As of 07/31/2019)

% of Fund
Charter Hall Group 2.60
Societa Iniziative Autostradali e Servizi SpA 2.23
Evolution Gaming Group AB 2.19
SOITEC 2.16
HKBN Ltd 2.15
Restaurant Brands New Zealand Ltd 2.11
Gaztransport Et Technigaz SA 2.11
Electrocomponents PLC 2.08
Redrow PLC 2.05
Sushiro Global Holdings Ltd 2.04
TOTAL 21.72

PORTFOLIO CHARACTERISTICS

(As of 07/31/19)

FUND INDEX
Number of Holdings
Equity Issues
72
2345
Market Capitalization
Weighted Average
$2.11B
$2.57B
Portfolio Turnover Rate
(1-year trailing)
70.66%
-
Price/Earnings Ratio
(1-year forward)
15.56
18.94
Price/Book Ratio
(1-year forward)
2.77
2.05
Earnings Growth Rate
(1-year forward)
7.10%
4.17%

DEVELOPED VS. EMERGING MARKET

(As of 07/31/19)

% OF FUND % OF INDEX
Non-U.S. Developed 98.72 99.92
Cash & Equivalents 1.28 -

SECTOR ALLOCATION

(As of 07/31/19)

% OF FUND % OF INDEX
Consumer Discretionary 25.63 12.43
Industrials 20.55 21.14
Information Technology 13.26 9.79
Communication Services 8.84 5.13
Consumer Staples 7.51 6.32
Financials 6.44 10.72
Energy 4.90 2.63
Real Estate 4.56 13.27
Materials 3.02 8.28
Utilities 2.71 2.41
Health Care 1.30 7.88
Cash & Equivalents 1.28 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 07/31/2019)

% OF FUND % OF INDEX
$5B to $10B 4.43 10.89
$1B to $5B 68.18 69.39
$500M to $1B 21.34 14.73
$250M to $500M 4.77 4.58

REGIONAL ALLOCATION

(As of 07/31/19)

% OF FUND % OF INDEX
Europe 51.70 54.70
Japan 26.04 30.64
Asia/Pacific Ex Japan 20.98 12.91
Cash & Equivalents 1.28 -

Commentary & Literature