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PISRX Salient International Small Cap Inv

  • Fund
  • PISRX
  • Price as of: Sep 19, 2017
  • $20.66
  • + $0.16
  • + 0.78%
  • Category
  • Foreign Small & Mid Cap Blend Equities

PISRX - Profile

Vitals

  • YTD Return 24.9%
  • 3 Yr Annualized Return 7.0%
  • 5 Yr Annualized Return 11.4%
  • Net Assets $120 M
  • Holdings in Top 10 16.0%

52 WEEK LOW AND HIGH

$20.66
$16.44
$20.66

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.77%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 63.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$4,000

Investment Themes

CATEGORY

Foreign Small & Mid Cap Blend Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Foreign Small/Mid Growth

Distributions

  • YTD Total Return 24.9%
  • 3 Yr Annualized Total Return 7.0%
  • 5 Yr Annualized Total Return 11.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.64%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Salient International Small Cap Fund
  • Fund Family Name Salient Funds
  • Inception Date Mar 05, 2002
  • Shares Outstanding 2361834
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager Justin Hill

Fund Description

Under normal conditions, the fund invests at least 80% of its net assets plus borrowings for investment purposes, if any, in equity securities of companies with small market capitalizations located outside the United States. For purposes of the fund's investment strategy, small capitalization companies may include any company with a market capitalization equal to or less than any company in the MSCI EAFE Small Cap Index at the time of purchase.

PISRX - Performance

Return Ranking - Trailing

Period PISRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 24.9% -8.6% 31.9% 41.54% 3
1 Yr 18.9% -7.8% 28.7% 69.70% 4
3 Yr 7.0% * -2.7% 14.0% 29.51% 2
5 Yr 11.4% * 2.2% 17.9% 50.94% 3
10 Yr 2.2% * 1.4% 7.5% 97.06% 5

* Annualized


Return Ranking - Calendar

Period PISRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -6.3% -11.6% 28.0% 85.48% 5
2015 11.3% -16.5% 11.3% 3.23% 1
2014 -8.8% -20.3% 4.5% 39.29% 2
2013 25.6% 2.5% 34.5% 37.25% 2
2012 19.7% 5.2% 24.1% 40.00% 3

Total Return Ranking - Trailing

Period PISRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 24.9% -8.6% 31.9% 42.86% 3
1 Yr 18.9% -10.5% 28.7% 62.12% 4
3 Yr 7.0% * -2.7% 14.0% 26.23% 2
5 Yr 11.4% * 2.2% 17.9% 47.17% 3
10 Yr 2.2% * 1.4% 7.5% 97.06% 5

* Annualized


Total Return Ranking - Calendar

Period PISRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -6.3% -11.6% 28.0% 85.48% 5
2015 12.2% -16.5% 12.5% 4.84% 1
2014 -8.6% -13.1% 24.3% 78.57% 4
2013 29.0% 9.9% 49.1% 56.86% 3
2012 23.2% 10.8% 62.7% 68.89% 4

NAV & Total Return History

PISRX - Holdings

Filings data as of: Jul 31, 2017

Concentration Analysis

PISRX Category Low Category High PISRX % Rank Quintile
Net Assets 120 M 2.21 M 5.27 B 34.85% 4
Number of Holdings 109 2 3781 25.76% 3
Net Assets in Top 10 19.3 M 676 K 2.82 B 31.82% 4
Weighting of Top 10 16.0% 2.6% 100.0% 21.21% 3

Top 10 Holdings

  1. Teleperformance SE 2.10%
  2. Link Administration Holdings Ltd 2.20%
  3. Kinden Corp 1.65%
  4. TKH Group NV 2.00%
  5. Sundrug Co Ltd 1.27%
  6. Dalata Hotel Group PLC 1.31%
  7. REA Group Ltd 1.59%
  8. Otsuka Corp 1.34%
  9. Datalogic SPA 1.31%
  10. Informa PLC 1.22%

Asset Allocation

Weighting Category Low Category High PISRX % Rank Quintile
Stocks
97.42% 60.28% 101.87% 10.61% 1
Cash
2.21% -1.87% 35.96% 25.76% 3
Other
0.37% -0.64% 10.62% 31.82% 4
Preferred Stocks
0.00% 0.00% 0.18% 7.58% 3
Convertible Bonds
0.00% 0.00% 0.00% 1.52% 2
Bonds
0.00% 0.00% 2.93% 9.09% 3

Stock Sector Breakdown

Weighting Category Low Category High PISRX % Rank Quintile
Industrials
26.07% 11.59% 44.50% 6.06% 1
Technology
20.45% 4.53% 40.68% 4.55% 1
Consumer Cyclical
16.99% 4.51% 31.72% 19.70% 2
Financial Services
12.64% 0.00% 21.21% 13.64% 2
Basic Materials
5.55% 0.00% 13.31% 31.82% 4
Real Estate
5.17% 0.00% 11.73% 16.67% 2
Consumer Defense
4.72% 0.00% 13.05% 39.39% 5
Communication Services
2.57% 0.00% 2.75% 4.55% 1
Healthcare
1.98% 0.00% 16.41% 39.39% 5
Utilities
0.71% 0.00% 35.68% 25.76% 3
Energy
0.59% 0.00% 7.39% 31.82% 4

Stock Geographic Breakdown

Weighting Category Low Category High PISRX % Rank Quintile
Non US
96.52% 58.80% 98.58% 9.09% 1
US
0.90% 0.00% 35.85% 27.27% 4

PISRX - Expenses

Operational Fees

PISRX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.77% 0.12% 42.98% 34.85% 4
Management Fee 1.00% 0.08% 1.25% 9.09% 4
12b-1 Fee 0.25% 0.00% 1.00% 14.29% 3
Administrative Fee 0.07% 0.01% 0.15% 20.59% 2

Sales Fees

PISRX Fees (% of AUM) Category Low Category High PISRX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 0.00% 5.00% N/A N/A

Trading Fees

PISRX Fees (% of AUM) Category Low Category High PISRX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PISRX Fees (% of AUM) Category Low Category High PISRX Rank Quintile
Turnover 63.00% 0.00% 173.00% 12.12% 5

PISRX - Distributions

Dividend Yield Analysis

PISRX Category Low Category High PISRX % Rank Quintile
Dividend Yield 0.3% 0.01% 2.98% 30.00% 2

Dividend Distribution Analysis

PISRX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Quarterly Annually

Dividend Payout History


Net Income Ratio Analysis

PISRX Category Low Category High PISRX % Rank Quintile
Net Income Ratio 1.64% -0.43% 2.97% 28.79% 2

Capital Gain Distribution Analysis

PISRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

PISRX - Managers

Justin Hill

Manager

Start Date

Oct 31, 2001

Tenure

15.84

Tenure Rank

2.5%

Mr. Hill joined PAM in October 2001 as a Senior Investment Manager in the Specialist Equities Team, concentrating on the UK and Asia Small Cap markets. Before joining PAM, Mr. Hill spent five years with the UK smaller companies team at Friends Ivory & Sime Asset Management in London and four years at Arthur Andersen. He is a graduate of St. Hugh’s College, Oxford and is a member of the Institute of Chartered Accountants.


Bill Barker

Manager

Start Date

Nov 30, 2007

Tenure

9.76

Tenure Rank

5.7%

Bill Barker, Senior Investment Manager, Small Cap Team. Mr. Barker joined PAM in November 2007 and is responsible for the UK. Before joining PAM, he worked as a UK Small Caps Manager for Threadneedle Investments (2000 to 2007) and previously held the same position at HSBC Asset Management (1996 to 1999) and Lloyds Investment Management (1992 to 1996). Mr. Barker graduated from Hull University with a B.Sc. in Economics & Econometrics.


Tenure Analysis

Category Low

0.1

Category High

21.9

Category Average

6.45

Category Mode

2.7