(

HFQDX

)

Global Equity Income Fund

Seeking High-Yielding, High-Quality Global Equities
NAV As of 05/20/19 $6.67

Jump to a section

Fund Facts

Details Yields Morningstar (As of 04/30/19)
11/30/06 Inception Date
$4.67B Total Net Assets (As of 04/30/19)
GROSS 0.88%
NET 0.88%
Annual Expense Ratio
(As of fiscal year end 09/30/18)
Morningstar Fee Level (As of 04/30/19)
Fee Level Group
Foreign Large Cap No Load
(out of 314 funds)
Morningstar Fee Level Below Average
View Morningstar Fee Level
7.29% Distribution Yield at NAV
(As of 03/31/19)
30 Day SEC Yield (As of 04/30/19)
With Waivers 3.25%
Without Waivers 3.30%
Quarterly Distribution Frequency
Performance (As of 05/20/19)
-0.15% 1 Day Return %
8.07% YTD Return
Category
Foreign Large Value
ic_star ic_star ic_star ic_star
288 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 03/31/2019)
(As of 04/30/2019)
Inception: Nov 30, 2006 3M YTD 1YR 3YR 5YR 10YR Since Inception
Global Equity Income Fund – D Shares 9.53% 9.53% -5.04% 4.26% 2.32% 8.11% 3.63%
MSCI World Index℠ 12.48% 12.48% 4.01% 10.68% 6.78% 12.38% 5.19%
MSCI World High Dividend Yield Index 10.34% 10.34% 5.31% 8.27% 4.96% 12.16% 4.09%
Inception: Nov 30, 2006 3M YTD 1YR 3YR 5YR 10YR Since Inception
Global Equity Income Fund – D Shares 5.23% 12.12% -4.66% 4.55% 2.24% 7.50% 3.79%
MSCI World Index℠ 8.06% 16.47% 6.48% 11.39% 7.31% 11.58% 5.45%
MSCI World High Dividend Yield Index 6.10% 12.12% 6.22% 8.12% 4.72% 10.86% 4.20%
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 04/30/19 CLASS I SHARES)

RISK / REWARD
VS. MSCI WORLD INDEX℠

3 YEAR 5 YEAR
Information Ratio -1.29 -0.99
Alpha -4.14 -3.19
Tracking Error 5.04 4.82
Beta 0.83 0.81
R-Squared (%) 76.10 80.99

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

3 YEAR 5 YEAR
Up Capture Ratio 64.70 68.24
Down Capture Ratio 96.07 92.18

STANDARD DEVIATION

3 YEAR 5 YEAR
Global Equity Income Fund 9.73 9.97
MSCI World Index℠ 10.17 11.05

SHARPE RATIO

3 YEAR 5 YEAR
Global Equity Income Fund 0.38 0.18
MSCI World Index℠ 1.00 0.59

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 04/30/2019)

% of Fund
Sanofi 3.13
Amcor Ltd/Australia 2.62
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 2.56
AXA SA 2.50
British American Tobacco PLC 2.37
Carnival Corp 2.36
TELUS Corp 2.36
Telenor ASA 2.24
Royal Dutch Shell PLC 2.09
Schneider Electric SE 2.08
TOTAL 24.31

PORTFOLIO CHARACTERISTICS

(As of 04/30/19)

FUND INDEX
Number of Holdings
Equity Issues
72
1636
Market Capitalization
Weighted Average
$60.36B
$169.94B
Portfolio Turnover Rate
(1-year trailing)
142.46%
-
Price/Earnings Ratio
(1-year forward)
13.40
19.09
Price/Book Ratio
(1-year forward)
2.18
2.99
Earnings Growth Rate
(1-year forward)
1.54%
6.12%

SECTOR ALLOCATION

(As of 04/30/19)

% OF FUND % OF INDEX
Financials 16.64 16.10
Materials 10.24 4.49
Industrials 9.97 11.22
Communication Services 9.30 8.42
Consumer Discretionary 9.03 10.60
Utilities 8.90 3.27
Consumer Staples 8.88 8.47
Energy 8.82 5.86
Health Care 8.15 12.10
Real Estate 3.60 3.15
Information Technology 3.30 16.32
Cash & Equivalents 3.17 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 04/30/2019)

% OF FUND % OF INDEX
Over $100B 14.27 39.50
$50B to $100B 20.51 16.53
$10B to $50B 51.54 36.23
$5B to $10B 7.57 6.20
$1B to $5B 2.94 1.32

REGIONAL ALLOCATION

(As of 04/30/19)

% OF FUND % OF INDEX
Europe 70.74 21.68
North America 17.88 65.82
Asia/Pacific Ex Japan 6.22 4.24
Japan 1.99 8.03
Cash & Equivalents 3.17 -

Commentary & Literature