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Trending ETFs

Name

As of 03/27/2024

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

$25.09

$1.36 B

1.42%

$0.35

1.48%

Vitals

YTD Return

5.6%

1 yr return

14.6%

3 Yr Avg Return

-0.5%

5 Yr Avg Return

6.4%

Net Assets

$1.36 B

Holdings in Top 10

60.7%

52 WEEK LOW AND HIGH

$25.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.48%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 44.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$25.09

$1.36 B

1.42%

$0.35

1.48%

PIUIX - Profile

Distributions

  • YTD Total Return 5.6%
  • 3 Yr Annualized Total Return -0.5%
  • 5 Yr Annualized Total Return 6.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.71%
DIVIDENDS
  • Dividend Yield 1.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Federated Hermes International Equity Fund
  • Fund Family Name
    PNC Funds
  • Inception Date
    Feb 08, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Martin Schulz

Fund Description

The Fund primarily invests in a portfolio of equity securities that are tied economically to a number of countries throughout the world, and typically invests in three or more countries outside of the United States (U.S.). The Fund has broad discretion to invest in issuers located or doing business throughout the world, including in both developed and emerging markets.The Fund targets a limit of a 10% overweight position to developing or emerging markets (the countries within the Americas, Europe, the Middle East, Africa, Asia and Australasia not represented in the MSCI World Index as developed markets) as compared to the exposure of the MSCI ACWI ex USA Index to such countries. More than 25% of the Fund’s assets may be invested in the equity securities of issuers located in the same country. The Fund may invest in companies of any capitalization. The Fund’s investments in equity securities may include, for example, common stocks, American Depositary Receipts or other U.S. listings of foreign common stocks and other mutual funds.The Fund may use other mutual funds, closed-end funds and derivative instruments to gain broad exposure to markets and/or a particular index, including, but not limited to, Federated Hermes International Growth Fund (the “Underlying Fund”), an open-end mutual fund advised by the Fund’s investment adviser using the same portfolio management team and strategies as the Fund’s International Growth Component (as defined below). It is expected that the Fund’s investment in the Underlying Fund will be a substantial portion of the Fund’s portfolio. Derivative instruments include, but are not limited to,financial futures,as well ascurrency futures and currencyforward contracts.The Fund may use derivative contracts to increase or decrease the portfolio’s exposure to the investment(s) underlying the derivative instruments in an attempt to benefit from changes in the value of the underlying investment(s), to obtain premiums from the sale of derivative contracts, to realize gains from trading a derivative contract or to hedge against potential losses. There can be no assurance that the Fund’s use of derivative contracts will work as intended. Derivative investments made by the Fund are included within the Fund’s 80% policy (as described below) and are calculated at market value.Federated Global Investment Management Corp. (the “Adviser”) has delegated to Polaris Capital Management, LLC (“Polaris” or the “Sub-Adviser”) the responsibility for providing portfolio management services to a portion of the Fund’s assets. The Adviser has allocated the Fund’s assets among a growth strategy (“International Growth Component”) and a value strategy (“International Value Component”). The Adviser manages the International Growth Component. Polaris furnishes investment advisory services to the International Value Component. The Adviser monitors the performance of Polaris and, at any point, the Adviser could change the allocation of the Fund’s assets between itself and Polaris on a basis determined by the Adviser to be in the best interest of shareholders. This means that the portion of the assets managed by the Adviser could be significantly larger than that managed by Polaris or vice versa and that the difference between such proportions could change from time to time.The Fund utilizes an active trading approach. The Adviser may choose to sell a holding when, for example, in the Adviser’s view, it no longer represents an attractive investment or to take advantage of what it considers to be a better investment opportunity.The Fund will invest its assets so that, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) are invested in equity investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would permit the Fund to invest, under normal circumstances, less than 80% of its net assets (plus any borrowings for investment purposes) in equity investments.PORTFOLIO TURNOVERThe Fund actively trades its portfolio securities in an attempt to achieve its investment objective. Active trading will cause the Fund to have an increased portfolio turnover rate and increase the Fund’s trading costs, which may have an adverse impact on the Fund’s performance. An active trading strategy will likely result in the Fund generating more short-term capital gains or losses. Short-term gains are generally taxed at a higher rate than long-term gains. Any short-term losses are used first to offset short-term gains.
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PIUIX - Performance

Return Ranking - Trailing

Period PIUIX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.6% -1.4% 32.0% 58.94%
1 Yr 14.6% 0.7% 28.0% 62.74%
3 Yr -0.5%* -13.5% 48.7% 93.13%
5 Yr 6.4%* -33.8% 76.8% 60.03%
10 Yr 5.3%* -0.1% 16.8% 17.39%

* Annualized

Return Ranking - Calendar

Period PIUIX Return Category Return Low Category Return High Rank in Category (%)
2023 12.9% -7.3% 22.0% 53.83%
2022 -27.2% -43.6% 71.3% 96.10%
2021 -4.3% -28.5% 18.9% 85.76%
2020 20.4% -90.1% 992.1% 7.70%
2019 21.0% -2.2% 38.8% 32.78%

Total Return Ranking - Trailing

Period PIUIX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.6% -1.4% 32.0% 58.94%
1 Yr 14.6% 0.7% 28.0% 62.74%
3 Yr -0.5%* -13.5% 48.7% 93.13%
5 Yr 6.4%* -33.8% 76.8% 60.03%
10 Yr 5.3%* -0.1% 16.8% 17.39%

* Annualized

Total Return Ranking - Calendar

Period PIUIX Return Category Return Low Category Return High Rank in Category (%)
2023 14.6% 3.2% 41.4% 71.98%
2022 -22.4% -43.6% 144.8% 95.65%
2021 8.0% -22.6% 56.0% 71.36%
2020 21.8% -89.7% 1010.8% 8.49%
2019 22.5% 4.3% 38.8% 47.09%

NAV & Total Return History


PIUIX - Holdings

Concentration Analysis

PIUIX Category Low Category High PIUIX % Rank
Net Assets 1.36 B 1.97 M 366 B 35.27%
Number of Holdings 63 1 10801 73.03%
Net Assets in Top 10 804 M 0 36.8 B 25.07%
Weighting of Top 10 60.74% 2.5% 111.6% 6.03%

Top 10 Holdings

  1. FED HRMS INT GR FUND-IS 49.23%
  2. SK Hynix Inc 1.45%
  3. Publicis Groupe SA 1.41%
  4. Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 1.33%
  5. Next PLC 1.33%
  6. Vinci SA 1.26%
  7. Linde PLC 1.23%
  8. SAMSUNG ELECTRONICS CO LTD 1.19%
  9. Hannover Rueck SE 1.16%
  10. Novartis AG 1.15%

Asset Allocation

Weighting Return Low Return High PIUIX % Rank
Stocks
98.17% 0.00% 122.60% 39.07%
Cash
1.83% -22.43% 100.00% 49.85%
Preferred Stocks
0.00% -0.01% 7.60% 68.08%
Other
0.00% -2.97% 43.01% 60.35%
Convertible Bonds
0.00% 0.00% 4.18% 40.06%
Bonds
0.00% -0.68% 71.30% 45.48%

Stock Sector Breakdown

Weighting Return Low Return High PIUIX % Rank
Technology
19.48% 0.00% 36.32% 2.99%
Financial Services
14.47% 0.00% 47.75% 84.18%
Consumer Cyclical
14.23% 0.00% 36.36% 11.19%
Industrials
13.55% 5.17% 99.49% 61.64%
Basic Materials
11.03% 0.00% 23.86% 9.10%
Healthcare
10.50% 0.00% 21.01% 69.40%
Communication Services
7.23% 0.00% 21.69% 29.10%
Consumer Defense
5.80% 0.00% 32.29% 90.90%
Energy
2.24% 0.00% 16.89% 85.22%
Real Estate
1.46% 0.00% 14.59% 58.96%
Utilities
0.00% 0.00% 13.68% 91.64%

Stock Geographic Breakdown

Weighting Return Low Return High PIUIX % Rank
US
52.83% 0.00% 103.55% 6.85%
Non US
45.34% 0.00% 121.07% 91.40%

PIUIX - Expenses

Operational Fees

PIUIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.48% 0.01% 18.22% 22.77%
Management Fee 0.85% 0.00% 1.65% 91.24%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 1.00% N/A

Sales Fees

PIUIX 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

PIUIX 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.

PIUIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 44.00% 2.00% 247.00% 63.11%

PIUIX - Distributions

Dividend Yield Analysis

PIUIX Category Low Category High PIUIX % Rank
Dividend Yield 1.42% 0.00% 24.61% 76.78%

Dividend Distribution Analysis

PIUIX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually SemiAnnual SemiAnnual

Net Income Ratio Analysis

PIUIX Category Low Category High PIUIX % Rank
Net Income Ratio 0.71% -0.93% 6.38% 83.88%

Capital Gain Distribution Analysis

PIUIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

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PIUIX - Fund Manager Analysis

Managers

Martin Schulz


Start Date

Tenure

Tenure Rank

Sep 30, 1998

23.68

23.7%

Martin Schulz, Senior Vice President, Head of International Equity Growth Team, Senior Portfolio Manager. Responsible for portfolio management and research in the international and emerging markets equity area. Previous associations: Managing Director, International Equity, PNC Capital Advisors; Portfolio Manager, National City Corporation. B.A., (graduating magna cum laude) Cornell University; M.B.A. and J.D., George Washington University, Master of Strategic Studies, U.S. Army War College.

Sumanta Biswas


Start Date

Tenure

Tenure Rank

Sep 30, 2005

16.68

16.7%

Sumanta Biswas, CFA, serves as Polaris Capital Management, LLC’s Vice President and Assistant Portfolio Manager since 2012. Mr. Biswas has been a partner at the Polaris Capital Management since 2007. Mr. Biswas’ professional experience includes completion of an internship at Delta Partners of Boston in 2001 where he served as an equity research analyst. From 1996 through July of 2000, he was an officer of the Securities and Exchange Board of India. In 1995, Mr. Biswas participated in the initial public offering of Electro Steel Casting, Ltd. of India while interning at IFB Finance Ltd. of India. In 1993, he was an engineering project manager trainee with Bridge & Roof Company of Calcutta, India, one of the largest construction companies in India. Mr. Biswas received a master’s of science degree in finance from Boston College in 2001, and an MBA from Calcutta University in India in 1996. He earned his undergraduate degree in engineering from North Bengal University in 1993, and holds a diploma in business finance from the Institute of Chartered Financial Analysts of India. He also holds the Chartered Financial Analyst (CFA) designation.

Bernard Horn


Start Date

Tenure

Tenure Rank

Sep 30, 2005

16.68

16.7%

Bernard Horn Jr. is President and Chief Investment Officer since 1998; Founder and Portfolio Manager since 1995; Investment professional since 1980.of Polaris Capital Management, LLC, a Boston-based global and international value equity management firm that serves as the sub-advisor for RBC International Equity. Prior to founding Polaris Capital in 1995, Bernard served as an investment officer for MDT Advisers, Inc. He also worked as a portfolio manager for Freedom Capital Management Corporation. From 1980 to 1990, Bernard was the principal and founder of Horn & Company, an investment counseling firm that specialized in global portfolio management for individuals, trusts and tax-qualified accounts. Bernard began his career in the investment industry in 1980. He received a BS from Northeastern University and a MS in Management from the Massachusetts Institute of Technology. In January 2007, Bernard was named Fund Manager of the year by MarketWatch. He was profiled in the January 2004 issue of SmartMoney Magazine and has been highlighted in Business Week, The New York Times, The Wall Street Journal and other national publications. Bernard has appeared on CNBC, CNNfn and Bloomberg TV to discuss global market trends.

Calvin Zhang


Start Date

Tenure

Tenure Rank

Sep 30, 2008

13.67

13.7%

Calvin Y. Zhang, Senior Analyst/Portfolio Manager, managed the predecessor fund to the Fund, the PNC International Growth Fund, since February 2016, and has continued to manage the Fund as an employee of the Adviser since November 2019. Mr. Zhang is primarily responsible for research and analysis on all Asian securities. He has been with the Adviser or an affiliate since 2019; and has managed investment portfolios since 2005. Education: B.A., South China University of Technology; M.B.A., University of Rochester.

Bin Xiao


Start Date

Tenure

Tenure Rank

Sep 30, 2012

9.67

9.7%

Bin Xiao has became an Analyst with Polaris since 2006. Mr. Bin was in internship at HSBC Global Investment Banking in 2005, and in internship at Polaris Capital Management in 2004/2005. In 2002 to 2004 Mr. Bin serves as a software architect and project manager at PNC Financial Service Group (PFPC), following positions as an information systems engineer and software engineer at Vanguard Group and RIT Research Corporation respectively.

Jason Crawshaw


Start Date

Tenure

Tenure Rank

Sep 28, 2014

7.68

7.7%

Jason is a portfolio manager and conducts fundamental analysis of potential investment opportunities. He brings over 20 years of investment industry experience to the firm. His prior professional experience includes portfolio management roles at Liberty Square Asset Management where he managed a France only portfolio and co-managed international long and long/short funds. He has held past portfolio management roles at Brait Specialized Funds and Equinox and equity research positions at Coronation Securities and Firstcorp Merchant Bank. Mr. Crawshaw obtained his master’s in business administration from University of Notre Dame and graduated Magna Cum Laude in 1994. He received his undergraduate degree from Middlebury College in 1992.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.35 6.22 3.25