A growth-style fund seeking long-term development in emerging markets around the world.
Is this fund right for you?
Risk Rating
How is the fund invested?
Geographic allocation (%)
Growth of $10,000
(since inception)
Data not available based on date of inception
Fund details
Top holdings |
% |
Total allocation in top holdings |
- |
Portfolio characteristics |
|
Standard deviation |
- |
Dividend yield |
- |
Average market cap (million) |
- |
Understanding returns
Annual compound returns (%)
1 MO |
3 MO |
YTD |
1 YR |
Data not available based on date of inception
|
3 YR |
5 YR |
10 YR |
INCEPTION |
Data not available based on date of inception
|
Calendar year returns (%)
2024 |
2023 |
2022 |
2021 |
Data not available based on date of inception
|
2020 |
2019 |
2018 |
2017 |
Data not available based on date of inception
|
Range of returns over five years
Best return |
Best period end date |
Worst return |
Worst period end date |
Data not available based on date of inception
|
Average return |
% of periods with positive returns |
Number of positive periods |
Number of negative periods |
Data not available based on date of inception
|
Q1 2025 Fund Commentary
Market commentary
Emerging markets faced a complex economic environment during the first quarter. Central banks continued to lower interest rates to support growth during the global trade dispute. Global growth forecasts were revised downward because of the trade tensions. Inflation rates in emerging markets remained elevated, although they showed signs of moderating.
Despite these challenges, emerging markets equities gained. The MSCI Emerging Markets Index posted a total return of 2.97%, outperforming the S&P 500 Index. Chinese equities posted a small loss amid tariff concerns, and despite government stimulus and artificial intelligence innovations. Brazil and Mexico gained over the quarter.
The consumer discretionary and communication services sectors posted strong gains, driven by the rally in Chinese stocks. The information technology sector declined as investors were concerned about issues among U.S. technology companies.
Performance
The Fund’s relative overweight exposure to Pop Mart International Group Ltd., Zhejiang Leapmotor Technology Co. Ltd. and Hanwha Solutions Corp. was positive for performance. Relative overweight exposure to Oberoi Realty Ltd., and Dixon Technologies (India) Ltd. was negative for performance.
At the sector level, stock selection in industrials, information technology and financials was positive for performance, as were value and growth stocks. Exposure to real estate was negative for performance, as were quality stocks.
At a geographic level, exposure to China was positive for performance, while India was negative.
Portfolio activity
Portfolio activity was an outcome of the sub-advisor’s process driven by stock selection, optimization and a vetting process run on a daily basis.