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HFQDX

)

Global Equity Income Fund

Seeking High-Yielding, High-Quality Global Equities
NAV As of 02/21/19 $6.78

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Fund Facts

Details Yields Morningstar (As of 01/31/19)
11/30/06 Inception Date
$4.41B Total Net Assets (As of 01/31/19)
GROSS 0.88%
NET 0.88%
Annual Expense Ratio
(As of fiscal year end 09/30/18)
Morningstar Fee Level (As of 01/31/19)
Fee Level Group
Foreign Large Cap No Load
(out of 314 funds)
Morningstar Fee Level Below Average
View Morningstar Fee Level
7.91% Distribution Yield at NAV
(As of 12/31/18)
30 Day SEC Yield (As of 01/31/19)
With Waivers 4.00%
Without Waivers 4.00%
Quarterly Distribution Frequency
Performance (As of 02/21/19)
-0.59% 1 Day Return %
8.31% YTD Return
Category
Foreign Large Value
ic_star ic_star ic_star ic_star
275 Funds Rated
Overall Rating
(Based on risk-adjusted returns)
LARGE VALUE
LARGE BLEND
LARGE GROWTH
MID VALUE
MID BLEND
MID GROWTH
SMALL VALUE
SMALL BLEND
SMALL GROWTH
Equity Style Box *
Important Morningstar Information

Who Should Consider this Fund?

Investors looking for a global equity fund that seeks to provide a high level of income.

Risk Tolerance Spectrum

Funds are placed on the risk tolerance spectrum to demonstrate the wide spectrum of risk levels among asset classes in which they are expected to typically invest. The spectrum is for informational purposes only, is not intended to be forward looking and is subject to change.

Overview

Client Commitment

A long-only portfolio that seeks a high level of current income and steady capital appreciation. The Fund seeks global, high-quality, income-producing equities with a focus on international companies.

Why Invest in the Fund

    Income, Regardless of Environment

  1. With our global approach, we seek to take advantage of various market environments to find the best income-producing equities. We tend to focus on international equities where the income-generating potential may be greater.
  2. Regional Rotation Strategy

  3. We use a specialized rotation strategy intended to capitalize on the global seasonality of dividends.
  4. Differentiated Income Option

  5. The Fund may be an attractive alternative to preferred stock and fixed income. The Fund holds 100% equities with no leverage and a quarterly dividend distribution schedule.

Featured Insights

Performance

RETURNS

(As of 12/31/2018)
(As of 01/31/2019)
Inception: Nov 30, 2006 3M YTD 1YR 3YR 5YR 10YR Since Inception
Global Equity Income Fund – D Shares -11.05% -15.71% -15.71% 1.65% 0.51% 6.19% 2.92%
MSCI World Index℠ -13.42% -8.71% -8.71% 6.30% 4.56% 9.67% 4.28%
MSCI World High Dividend Yield Index -8.71% -7.56% -7.56% 6.07% 3.43% 9.01% 3.33%
Inception: Nov 30, 2006 3M YTD 1YR 3YR 5YR 10YR Since Inception
Global Equity Income Fund – D Shares 0.10% 6.55% -12.60% 4.84% 2.74% 7.67% 3.44%
MSCI World Index℠ 0.72% 7.78% -6.54% 11.26% 6.94% 11.51% 4.89%
MSCI World High Dividend Yield Index 1.10% 5.67% -5.82% 9.33% 5.42% 11.24% 3.78%
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 D 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.
Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

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 01/31/19 CLASS I SHARES)

RISK / REWARD
VS. MSCI WORLD INDEX℠

3 YEAR 5 YEAR
Information Ratio -1.22 -0.81
Alpha -3.94 -2.57
Tracking Error 5.04 4.89
Beta 0.85 0.83
R-Squared (%) 77.96 80.66

UP AND DOWN MARKET CAPTURE (%)
VS. MSCI WORLD INDEX℠

3 YEAR 5 YEAR
Up Capture Ratio 67.17 72.28
Down Capture Ratio 97.11 92.18

STANDARD DEVIATION

3 YEAR 5 YEAR
Global Equity Income Fund 10.14 10.23
MSCI World Index℠ 10.60 11.10

SHARPE RATIO

3 YEAR 5 YEAR
Global Equity Income Fund 0.40 0.23
MSCI World Index℠ 0.96 0.57

ANNUAL FEES & EXPENSES

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

CLASS D SHARES
Management Fees 0.65%
12b-1 Fees -
Other Expenses 0.23%
Total Gross Expenses 0.88%
Waivers 0.00%
Total Net Expenses 0.88%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 2/1/20.

Characteristics

Index represents the MSCI World Index℠.

TOP HOLDINGS

(As of 01/31/2019)

% of Fund
GlaxoSmithKline PLC 2.94
BHP Group PLC 2.92
Carnival Corp 2.62
Tokyo Electron Ltd 2.58
Roche Holding AG 2.56
Novartis AG 2.51
Amcor Ltd/Australia 2.45
TELUS Corp 2.38
TOTAL SA 2.37
Repsol SA 2.36
TOTAL 25.69

PORTFOLIO CHARACTERISTICS

(As of 01/31/19)

FUND INDEX
Number of Holdings
Equity Issues
72
1632
Market Capitalization
Weighted Average
$65.58B
$147.65B
Portfolio Turnover Rate
(1-year trailing)
153.09%
-
Price/Earnings Ratio
(1-year forward)
12.57
17.59
Price/Book Ratio
(1-year forward)
2.95
3.66
Earnings Growth Rate
(1-year forward)
3.61%
9.72%

SECTOR ALLOCATION

(As of 01/31/19)

% OF FUND % OF INDEX
Energy 14.23 6.08
Financials 12.39 16.23
Health Care 11.59 13.03
Consumer Staples 9.98 8.43
Communication Services 8.85 8.40
Materials 8.33 4.61
Industrials 8.30 11.10
Consumer Discretionary 7.73 10.57
Utilities 6.21 3.35
Real Estate 5.65 3.28
Information Technology 3.72 14.92
Cash & Equivalents 3.02 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 01/31/2019)

% OF FUND % OF INDEX
Over $100B 17.58 35.65
$50B to $100B 16.83 18.95
$10B to $50B 50.22 36.57
$5B to $10B 7.77 7.13
$1B to $5B 4.58 1.46

REGIONAL ALLOCATION

(As of 01/31/19)

% OF FUND % OF INDEX
Europe 57.73 21.80
North America 22.62 65.13
Asia/Pacific Ex Japan 12.38 4.30
Japan 3.84 8.53
Latin America 0.41 0.04
Cash & Equivalents 3.02 -

Commentary & Literature