(

JDIRX

)

Overseas Fund

Non-U.S. All Cap Equities
NAV As of 12/07/18 $27.85

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Fund Facts

Details Performance (As of 12/07/18) Morningstar (As of 11/30/18)
05/02/94 Inception Date
$1.39B Total Net Assets (As of 10/31/18)
GROSS 1.20%
NET 1.20%
Annual Expense Ratio
(As of fiscal year end 09/30/17)
Morningstar Fee Level (As of 11/30/18)
Fee Level Group
Foreign Large Cap Retirement, Medium
(out of 128 funds)
Morningstar Fee Level Low
View Morningstar Fee Level
-1.17% 1 Day Return
-14.07% YTD Return
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 seeking to grow capital by investing with conviction in companies outside the U.S. where the portfolio manager believes the market underestimates free-cash-flow growth. The Fund considers both growth and value criteria as it seeks to deliver strong, risk-adjusted returns over the long term, regardless of market conditions.

Why Invest in the Fund

    Flexible International All-Cap Equities

  1. The portfolio managers have the flexibility to invest in 30 to 60 companies outside the U.S. and across the market cap and style spectrum where free-cash-flow growth is believed to be underestimated by the market. The portfolio managers search for both growing companies and attractive valuations.
  2. Differentiated Insights

  3. The intersection of independent viewpoints and differentiated perspectives between the portfolio managers and research analysts should lead to potentially greater and more consistent excess returns over time.
  4. Exacting Portfolio Construction

  5. Taking a prudent approach to portfolio construction and risk management, the portfolio managers aim to drive superior risk-adjusted returns over the full market cycle through stock selection in an effort to avoid persistent biases.

Featured Insights

Performance

RETURNS

(As of 09/30/2018)
(As of 11/30/2018)
Inception: May 02, 1994 3M YTD 1YR 3YR 5YR 10YR Since Inception
Overseas Fund – R Shares -0.44% -1.94% 1.88% 8.01% -0.06% 1.76% 7.29%
MSCI All Country World ex-U.S. Index℠ 0.71% -3.09% 1.76% 9.97% 4.12% 5.18% -
Inception: May 02, 1994 3M YTD 1YR 3YR 5YR 10YR Since Inception
Overseas Fund – R Shares -9.75% -11.14% -9.93% 1.48% -3.48% 4.74% 6.81%
MSCI All Country World ex-U.S. Index℠ -6.84% -10.13% -8.12% 5.43% 1.79% 7.66% -
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 R 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 09/30/2018)
(As of 11/30/2018)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 47 73 100 99 17
Foreign Large Blend Category
Rank/Count
307/819 471/735 653/654 528/532 31/145
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 70 93 100 95 19
Foreign Large Blend Category
Rank/Count
467/771 636/710 622/623 504/520 32/135

CALENDAR YEAR PERFORMANCE

RETURNS-BASED STATISTICS

(As of 10/31/18 CLASS I SHARES)

RISK / REWARD
VS. MSCI ALL COUNTRY WORLD EX-U.S. INDEX℠

3 YEAR 5 YEAR
Information Ratio -0.44 -0.55
Alpha -2.72 -3.93
Tracking Error 5.39 7.31
Beta 1.16 1.22
R-Squared (%) 87.02 81.48

UP AND DOWN MARKET CAPTURE (%)
VS. MSCI ALL COUNTRY WORLD EX-U.S. INDEX℠

3 YEAR 5 YEAR
Up Capture Ratio 106.06 112.73
Down Capture Ratio 122.37 135.86

STANDARD DEVIATION

3 YEAR 5 YEAR
Overseas Fund 14.10 15.87
MSCI All Country World ex-U.S. Index℠ 11.34 11.73

SHARPE RATIO

3 YEAR 5 YEAR
Overseas Fund 0.08 -0.18
MSCI All Country World ex-U.S. Index℠ 0.31 0.09

ANNUAL FEES & EXPENSES

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

CLASS R SHARES
Management Fees 0.40%
12b-1 Fees 0.50%
Other Expenses 0.30%
Total Gross Expenses 1.20%
Waivers 0.00%
Total Net Expenses 1.20%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 2/1/19.

Characteristics

Index represents the MSCI All Country World ex-U.S. Index℠.

TOP HOLDINGS

(As of 10/31/2018)

% of Fund
Safran SA 4.97
Alibaba Group Holding Ltd (ADR) 4.50
Mitsubishi UFJ Financial Group Inc 4.11
Sony Financial Holdings Inc 3.91
Diageo PLC 3.71
BNP Paribas SA 3.70
ASML Holding NV 3.52
AIA Group Ltd 3.34
Canadian Natural Resources Ltd 3.28
Rio Tinto Ltd 3.20
TOTAL 38.24

PORTFOLIO CHARACTERISTICS

(As of 10/31/18)

FUND INDEX
Number of Holdings
Equity Issues
46
2163
Market Capitalization
Weighted Average
$88.43B
$62.37B
Portfolio Turnover Rate
(1-year trailing)
22.62%
-
Price/Earnings Ratio
(1-year forward)
15.62
15.79
Price/Book Ratio
(1-year forward)
2.65
2.40
Earnings Growth Rate
(1-year forward)
9.58%
9.56%

DEVELOPED VS. EMERGING MARKET

(As of 10/31/18)

% OF FUND % OF INDEX
Non-U.S. Developed 78.51 75.41
Non-U.S. Emerging 19.81 24.59
U.S. 0.30 -
Cash & Equivalents 1.38 -

SECTOR ALLOCATION

(As of 10/31/18)

% OF FUND % OF INDEX
Financials 24.84 22.33
Consumer Discretionary 18.07 10.30
Industrials 10.11 11.75
Health Care 9.28 8.62
Materials 9.03 7.78
Information Technology 8.53 8.18
Consumer Staples 6.36 9.82
Energy 6.08 7.75
Communication Services 5.56 7.22
Real Estate 0.76 3.13
Cash & Equivalents 1.38 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 10/31/2018)

% OF FUND % OF INDEX
Over $100B 20.91 16.91
$50B to $100B 39.85 19.18
$10B to $50B 26.65 43.37
$5B to $10B 3.74 13.15
$1B to $5B 6.25 5.92
$500M to $1B 1.22 0.02

REGIONAL ALLOCATION

(As of 10/31/18)

% OF FUND % OF INDEX
Europe 48.56 45.03
Asia/Pacific Ex Japan 28.15 25.96
Japan 16.65 16.89
North America 5.26 6.67
Cash & Equivalents 1.38 -

Commentary & Literature

3Q18 Portfolio Commentary Highlights

  • Global equities notched modest gains during the quarter, but generally trailed U.S. markets.
  • The Fund underperformed its benchmark.
  • We used market volatility to add to some of our Chinese Internet holdings.

Read The Full Commentary