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Name

As of 04/18/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Martin Currie Emerging Markets Fund

MEFIX | Fund

$11.87

$508 M

0.91%

$0.11

1.21%

Vitals

YTD Return

-2.8%

1 yr return

-1.6%

3 Yr Avg Return

-11.4%

5 Yr Avg Return

-0.4%

Net Assets

$508 M

Holdings in Top 10

46.7%

52 WEEK LOW AND HIGH

$11.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.21%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 23.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/18/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Martin Currie Emerging Markets Fund

MEFIX | Fund

$11.87

$508 M

0.91%

$0.11

1.21%

MEFIX - Profile

Distributions

  • YTD Total Return -2.8%
  • 3 Yr Annualized Total Return -11.4%
  • 5 Yr Annualized Total Return -0.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.07%
DIVIDENDS
  • Dividend Yield 0.9%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Martin Currie Emerging Markets Fund
  • Fund Family Name
    FRANKLIN TEMPLETON
  • Inception Date
    May 29, 2015
  • Shares Outstanding
    N/A
  • Share Class
    F
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Andrew Mathewson

Fund Description

Under normal market conditions, the fund pursues its objective by investing at least 80% of its net assets plus borrowings for investment purposes, if any, in securities of issuers with substantial economic ties to one or more emerging market countries and other investments with similar economic characteristics. The material factors the subadviser considers when determining whether an issuer has substantial economic ties to an emerging market country include whether the issuer:
•
is included in the MSCI Emerging Markets Index;
•
is organized or headquartered in an emerging market country, or maintains most of its assets in one or more such countries;
•
has a primary listing for its securities on a stock exchange of an emerging market country; or
•
derives a majority of its exposure (e.g. percentage of sales, income or other material factors) from one or more emerging market countries.
Emerging market countries are predominantly found currently in regions such as Asia, the Indian subcontinent, South and Central America, the Middle and Near East, Eastern and Central Europe and Africa.
The fund will invest primarily in equity and equity-related securities, which may include common stocks, preferred stock, convertible bonds, other securities convertible into common stock, depositary receipts, real estate investment trusts, securities of other investment companies, including exchange-traded funds (ETFs), and synthetic foreign equity securities, including international warrants. The fund will primarily invest in securities directly in foreign markets, but may gain exposure to foreign markets indirectly through depositary receipts and synthetic foreign equity securities. American Depositary Receipts are receipts issued by a bank that demonstrate ownership of underlying foreign securities and trade on U.S. markets. Synthetic foreign equity securities are a type of derivative issued by a bank or other financial institution designed to replicate the economic exposure of buying an equity security directly in a particular foreign market. The fund will use synthetic foreign equity securities to obtain market exposure where direct access is not otherwise available. The fund may also enter into index futures contracts, a form of derivative contract, as a substitute for buying or selling securities, to obtain market exposure, in an attempt to enhance returns and to manage cash.
Within an emerging market country, the subadviser selects securities that it believes have favorable investment potential. For example, the fund may purchase stocks of companies with prices that reflect a value lower than that which the subadviser places on the company. The subadviser may also
consider factors it believes will cause the stock price to rise. In general, the subadviser will consider, among other factors, an issuer’s valuation, financial strength, competitive position in its industry, projected future earnings, cash flows and dividends and environmental, social, and governance risks and opportunities when deciding whether to buy or sell investments. The fund may invest in companies of any size and market capitalization.
The subadviser assesses environmental, social and governance (“ESG”) risks and opportunities that could impact the ability of an issuer to generate future sustainable returns. These may include such factors as:
•
shareholder rights,
•
accounting standards,
•
remuneration,
•
board structure,
•
labor relations,
•
supply chain,
•
data protection,
•
pollution/hazardous waste,
•
water usage, and
•
climate change.
The subadviser assesses these ESG factors both quantitatively and qualitatively, through its proprietary ESG ratings system and its direct research and engagement process. The subadviser’s proprietary ESG ratings capture this analysis, with companies assigned a risk rating on each of governance and sustainability (i.e., environmental and social) from 1 (low risk) to 5 (high risk) following a consideration of environment, social affairs and corporate governance sustainability factors. Companies that have a sustainability or governance risk rating of 4 or higher will not be purchased for the fund.
The subadviser considers sustainability risks tied to ESG factors relevant to the returns of the fund. Because investing on the basis of ESG criteria involves qualitative and subjective analysis, there can be no assurance that the methodology utilized by, or determinations made by, the subadviser will align with the beliefs or values of a particular investor, and other managers may make a different assessment of a company’s ESG criteria.
In addition, the fund seeks to avoid investing in companies that, based on its exclusionary criteria, the subadviser has determined:
•
generate more than 5% of revenue from tobacco production, distribution or wholesale.
•
generate more than 5% of revenue from the production or distribution of conventional or nuclear weapons.
•
generate more than 5% of revenue from coal based power generation or the mining or distribution of thermal coal.
•
generate revenue from the production, sale or distribution of dedicated and key components of controversial weapons (i.e., antipersonnel mines, biological and chemical weaponry and cluster munitions).
•
as ‘fail’ under the principles set forth in the UN Global Compact.
The subadviser may engage with issuers to gain information on environmental, social and governance related issues and to promote best practices in the management and disclosure of these issues.
The subadviser applies its ESG process (as set out above) to the issuer of each security held in the fund’s portfolio, provided that the subadviser does not apply its ESG process to cash and instruments used for liquidity (including mutual funds and exchange-traded funds, short-term money market instruments and derivative contracts).
The fund may invest in companies domiciled in any country that the subadviser believes to be appropriate to the fund’s investment objective. Subject to the fund’s 80% investment policy, the fund may invest a substantial amount of assets (i.e., more than 25%) in issuers located in a single country or a limited number of countries, but will always be invested in or have exposure to no less than three different emerging market countries. The fund may invest in securities denominated in foreign currencies or in U.S. dollars.
The fund is classified as “non-diversified,” which means it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
Read More

MEFIX - Performance

Return Ranking - Trailing

Period MEFIX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.8% -11.9% 9.8% 92.15%
1 Yr -1.6% -13.6% 30.1% 93.91%
3 Yr -11.4%* -24.9% 7.2% 92.66%
5 Yr -0.4%* -8.7% 10.6% 81.99%
10 Yr N/A* -3.1% 6.1% N/A

* Annualized

Return Ranking - Calendar

Period MEFIX Return Category Return Low Category Return High Rank in Category (%)
2023 4.8% -6.5% 35.5% 86.45%
2022 -27.2% -50.1% -2.4% 72.21%
2021 -5.4% -33.1% 22.5% 51.92%
2020 27.0% -22.1% 80.1% 20.06%
2019 25.9% -0.7% 42.0% 12.44%

Total Return Ranking - Trailing

Period MEFIX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.8% -11.9% 9.8% 92.15%
1 Yr -1.6% -13.6% 30.1% 93.91%
3 Yr -11.4%* -24.9% 7.2% 92.66%
5 Yr -0.4%* -8.7% 10.6% 81.99%
10 Yr N/A* -3.1% 6.1% N/A

* Annualized

Total Return Ranking - Calendar

Period MEFIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.7% -2.7% 42.0% 90.11%
2022 -27.0% -42.2% 1.9% 80.03%
2021 -5.4% -32.5% 33.1% 76.99%
2020 27.3% -20.0% 81.6% 22.84%
2019 28.6% 2.3% 42.0% 9.57%

NAV & Total Return History

MEFIX - Holdings

Concentration Analysis

MEFIX Category Low Category High MEFIX % Rank
Net Assets 508 M 682 K 103 B 46.59%
Number of Holdings 53 10 7049 86.48%
Net Assets in Top 10 237 M 118 K 19.2 B 40.16%
Weighting of Top 10 46.69% 0.7% 122.2% 9.25%

Top 10 Holdings

  1. Samsung Electronics Co Ltd 9.83%
  2. Taiwan Semiconductor Manufacturing Co Ltd 9.75%
  3. Tencent Holdings Ltd 5.48%
  4. HDFC BANK LTDDR 4.09%
  5. SK Hynix Inc 4.01%
  6. ICICI Bank Ltd 2.98%
  7. Reliance Industries Ltd 2.87%
  8. Titan Co Ltd 2.81%
  9. ALIBABA GROUP HOLDING-SP ADR 2.56%
  10. Antofagasta PLC 2.32%

Asset Allocation

Weighting Return Low Return High MEFIX % Rank
Stocks 		99.78% 0.00% 103.65% 7.76%
Cash 		0.22% -2.03% 99.29% 87.15%
Preferred Stocks 		0.00% 0.00% 10.09% 62.38%
Other 		0.00% -1.64% 50.31% 39.63%
Convertible Bonds 		0.00% 0.00% 7.40% 15.23%
Bonds 		0.00% 0.00% 94.30% 26.64%

Stock Sector Breakdown

Weighting Return Low Return High MEFIX % Rank
Technology 		28.70% 0.00% 47.50% 16.40%
Financial Services 		22.88% 0.00% 48.86% 41.06%
Consumer Cyclical 		14.58% 0.00% 48.94% 26.29%
Communication Services 		11.20% 0.00% 39.29% 22.09%
Basic Materials 		8.55% 0.00% 30.03% 45.53%
Industrials 		5.69% 0.00% 43.53% 54.34%
Energy 		5.25% 0.00% 24.80% 31.30%
Healthcare 		2.39% 0.00% 16.53% 74.53%
Consumer Defense 		0.76% 0.00% 25.90% 97.97%
Utilities 		0.00% 0.00% 39.12% 73.58%
Real Estate 		0.00% 0.00% 17.15% 86.86%

Stock Geographic Breakdown

Weighting Return Low Return High MEFIX % Rank
Non US 		75.43% 0.00% 100.18% 79.38%
US 		24.35% 0.00% 101.58% 12.99%

MEFIX - Expenses

Operational Fees

MEFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.21% 0.03% 24.48% 59.14%
Management Fee 0.75% 0.00% 2.00% 25.34%
12b-1 Fee 0.25% 0.00% 1.00% 23.90%
Administrative Fee N/A 0.01% 0.85% N/A

Sales Fees

MEFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MEFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

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.

MEFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 23.00% 0.00% 189.00% 17.73%

MEFIX - Distributions

Dividend Yield Analysis

MEFIX Category Low Category High MEFIX % Rank
Dividend Yield 0.91% 0.00% 10.29% 77.24%

Dividend Distribution Analysis

MEFIX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Quarterly Annual

Net Income Ratio Analysis

MEFIX Category Low Category High MEFIX % Rank
Net Income Ratio 0.07% -1.98% 17.62% 74.72%

Capital Gain Distribution Analysis

MEFIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

MEFIX - Fund Manager Analysis

Managers

Andrew Mathewson

Start Date

Tenure

Tenure Rank

May 29, 2015

7.01

7.0%

Andrew is a co-manager of our Global Emerging Markets strategy. He has had responsibility for researching stocks in the consumer and healthcare sectors since the formation of the Global Emerging Markets team in 2010. Prior to this, he worked in Martin Currie’s Asia and Global Emerging Markets team, as an investment manager for the Global Emerging Markets product with a research focus on EMEA markets. He joined Martin Currie in 2005 from the Scottish Investment Trust, where he was an investment manager for UK equities. Andrew is a CFA® Charterholder. He has a BSc (Hons) in Economics from the University of St Andrews.

Alastair Reynolds

Start Date

Tenure

Tenure Rank

Jun 07, 2018

3.98

4.0%

Alastair has been investing in equities for almost 30 years. He joined Martin Currie in 2010, when Martin Currie expanded its commitment to the Emerging Market asset class. In addition to managing investment portfolios and conducting investment research, Alastair is also responsible for the overall management of our Emerging Markets team. During his career, Alastair has managed a broad range of emerging market equity strategies, including frontier markets and small caps. Prior to Joining Martin Currie, Alastair worked at Scottish Widows Investment Partnership, Edinburgh Fund Managers and Scottish Amicable Investment Management. He is an associate of the UK Society of Investment Professionals (ASIP), the predecessor of the CFA Society of the UK.

Paul Desoisa

Start Date

Tenure

Tenure Rank

Jun 28, 2019

2.93

2.9%

Paul is a co-manager of Martin Currie’s Global Emerging Markets team, where he is responsible for researching stocks in the industrial and utilities sectors. He joined Martin Currie in 2013 as an investment trainee in technology, media and telecoms research, before progressing into a portfolio management role in the North America team. He previously worked as a trainee actuary for Punter Southall and has undertaken internships at J.P. Morgan and Redburn Partners. In 2012, Paul completed a BSc (Hons) in Mathematics and Statistics at the University of York. He is a CFA® Charterholder.

Colin Dishington

Start Date

Tenure

Tenure Rank

Jun 28, 2019

2.93

2.9%

Colin is a co-manager of our Global Emerging Markets strategy, with responsibility for researching stocks in the communication services sector. Before re-joining Martin Currie in 2018, he worked as a research analyst at Matthews Asia, an Asia-only investment specialist. Before this, Colin worked at Martin Currie from 2010-2012, initially as Assistant Research Analyst, working on global financials stocks, before progressing to Assistant Portfolio Manager in our Japan team. Colin is a Chartered Accountant (CA), beginning his professional career at Chiene & Tait Chartered Accountants. He was then at Lloyds Banking Group before he first joined Martin Currie. He is a CFA® Charterholder and has an MA in Economics from the University of Glasgow.

Divya Mathur

Start Date

Tenure

Tenure Rank

Jun 28, 2019

2.93

2.9%

Divya is a co-manager of our Global Emerging Markets strategy, with responsibility for technology sector research. He joined Martin Currie in 2010 from SWIP. As sector analyst, he was responsible for stocks across the technology and utilities sectors in emerging markets. Earlier, Divya spent over a decade at Henderson Global Investors in London, before managing GEM and dedicated Indian equity portfolios for eight years. Divya has an MSc in investment analysis from the University of Stirling and a BSc (Hons) in Computer Science and Accounting from the University of Manchester.

Paul Sloane

Start Date

Tenure

Tenure Rank

Jun 28, 2019

2.93

2.9%

Paul is a co-manager of our Global Emerging Markets strategy and has responsibility for researching financials stocks. Paul first joined Martin Currie in 2003, leading our global financials research and comanaging our Global Financials Absolute Return Fund from 2006 to 2011 and Global Alpha strategy from 2013. Paul left the firm in 2017 and re-joined in 2018 as part of the Global Emerging Markets team. Prior to his time at Martin Currie he was at Deutsche Bank, where he was responsible for specialist sales in the pan-European insurance sector. He started his career in 1993 as a Trainee Chartered Accountant at Standard Life before moving into an investment analyst role at Standard Life Investments in 1997. Paul is a Chartered Accountant (CA) and an associate of the UK Society of Investment Professionals (ASIP). Paul has a PGDip in Investment Analysis from the University of Stirling and a BA (Hons) Accounting from the University of Ulster.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 33.71 6.54 13.42

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