RMB International Fund
Fund
RMBTX
Price as of:
$10.04
+ $0.10
+ 1.01%
Primary Theme
fund company
Name
As of 04/23/2024Price
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
Vitals
YTD Return
5.1%
1 yr return
8.1%
3 Yr Avg Return
0.7%
5 Yr Avg Return
3.6%
Net Assets
$250 M
Holdings in Top 10
39.4%
52 WEEK LOW AND HIGH
$9.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.96%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 21.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
$2,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/23/2024Price
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
RMBTX - Profile
Distributions
- YTD Total Return 5.1%
- 3 Yr Annualized Total Return 0.7%
- 5 Yr Annualized Total Return 3.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.99%
- Dividend Yield 1.9%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameRMB International Fund
-
Fund Family NameRMB Capital Management
-
Inception DateDec 27, 2017
-
Shares Outstanding30510774
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMasakazu Hosomizu
Fund Description
The Fund pursues its investment objective by investing, under normal conditions, in at least three different countries and at least 40% of its total assets in securities of non-U.S. issuers organized or having their principal place of business outside the U.S. or doing a substantial amount (more than 50%) of business outside the U.S. Investments in exchange-traded funds (“ETFs”) based on non-U.S. market indices are considered investments outside the U.S. for purposes of the 40% requirement noted above.
The Fund’s non-U.S. investments will be primarily in developed markets, but the Fund may invest in emerging markets. As of the date of this Prospectus, the Fund’s investment adviser believes that developed markets outside the United States include, but may not be limited to, the following: Austria, Australia, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom. The Fund considers emerging markets to be markets located in countries classified as emerging or frontier markets by MSCI, and are generally located in the AsiaPacific region, Eastern Europe, the Middle East, Central and South America and Africa. There are no geographic limits on the Fund’s non-U.S. investments.
The Fund may invest in companies of any size, but primarily invests in mid-and large-capitalization companies and targeting a balanced allocation across this market capitalization spectrum. For this purpose, the Fund defines a mid- and large-capitalization company as any company with a market capitalization within the range of the market capitalizations of the constituents of the MSCI EAFE Index, which as of March 31, 2023 had a market capitalization range from $1.4 billion to $335.5 billion. At times the Fund may increase the relative emphasis of its investments in a particular region, country, sector, industry or other segment of the market.
The Fund primarily invests in equity securities, including common stocks, preferred stocks, warrants and other rights, and securities convertible into or exchangeable for common stocks. The Fund may also invest in real estate investment trusts (“REITs”), depositary receipts, including American, European and Global Depositary Receipts. The Fund’s investments may be hedged or unhedged to foreign currencies depending on the market opportunities.
The adviser uses a fundamental, bottom up approach to identify what it believes are quality companies, as evidenced by the durability of the company’s business model (strong competitive advantages and high barriers to entry), the company’s financial strength (greater returns on capital, free cash flow generation, healthy balance sheets), the presence of long-term growth, and value-accretive management teams.
From time to time the Fund may invest in companies that are experiencing unusual and possibly unique developments. Potential investments in the stock of these companies are usually the result of companies uncovered in the research process that are otherwise outside of the standard investment criteria employed by the Fund, but may have opportunities for significant returns. These companies are deemed “special situations”. Special situations include companies going through reorganizations, recapitalizations, mergers, spin-offs, or facing resolutions of litigation, management team changes, or important technological improvements or discoveries.
The Fund will buy such quality companies when the adviser believes their fundamentals are mispriced relative to their long-term potential and when their stock prices reflect reasonable valuations.
The Fund will sell companies when fundamentals deteriorate, thus impairing the long-term quality of the business; when the market price exceeds the adviser’s estimate of intrinsic value; when the adviser’s investment thesis supporting its decision to purchase and hold the company is no longer valid; and/or when the adviser believes a more attractive risk/reward opportunity exists.
RMBTX - Performance
Return Ranking - Trailing
| Period | RMBTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.1% | -4.8% | 5.8% | 2.41% |
| 1 Yr | 8.1% | -6.1% | 16.1% | 39.76% |
| 3 Yr | 0.7%* | -9.5% | 4.9% | 11.54% |
| 5 Yr | 3.6%* | 0.8% | 8.5% | 85.33% |
| 10 Yr | N/A* | 2.1% | 6.4% | N/A |
* Annualized
Return Ranking - Calendar
| Period | RMBTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.7% | 1.1% | 25.3% | 75.00% |
| 2022 | -18.6% | -35.4% | -13.9% | 20.73% |
| 2021 | 8.4% | -5.3% | 14.4% | 32.91% |
| 2020 | 6.3% | 3.1% | 21.2% | 69.62% |
| 2019 | 17.8% | 13.1% | 25.4% | 73.61% |
Total Return Ranking - Trailing
| Period | RMBTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.1% | -4.8% | 5.8% | 2.41% |
| 1 Yr | 8.1% | -6.1% | 16.1% | 39.76% |
| 3 Yr | 0.7%* | -9.5% | 4.9% | 11.54% |
| 5 Yr | 3.6%* | 0.8% | 8.5% | 85.33% |
| 10 Yr | N/A* | 2.1% | 6.4% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | RMBTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.9% | 2.5% | 25.8% | 83.33% |
| 2022 | -16.9% | -35.4% | -10.9% | 14.63% |
| 2021 | 9.5% | 7.7% | 18.9% | 87.34% |
| 2020 | 7.0% | 3.5% | 21.7% | 89.87% |
| 2019 | 19.2% | 16.9% | 32.7% | 88.89% |
NAV & Total Return History
RMBTX - Holdings
Concentration Analysis
| RMBTX | Category Low | Category High | RMBTX % Rank | |
|---|---|---|---|---|
| Net Assets | 250 M | 6.5 M | 11.4 B | 77.38% |
| Number of Holdings | 41 | 2 | 4721 | 96.43% |
| Net Assets in Top 10 | 98.7 M | 1.08 M | 11.3 B | 46.43% |
| Weighting of Top 10 | 39.44% | 0.2% | 100.0% | 5.95% |
Top 10 Holdings
- First American Government Obligations Fund 5.00%
- Novartis AG 4.95%
- Shell PLC 4.43%
- Schneider Electric SE 4.29%
- AstraZeneca PLC 4.24%
- Compass Group PLC 3.97%
- Nestle SA 3.78%
- ORIX Corp 2.96%
- Sampo Oyj 2.91%
- Mitsubishi UFJ Financial Group Inc 2.90%
Asset Allocation
| Weighting | Return Low | Return High | RMBTX % Rank | |
|---|---|---|---|---|
| Stocks | 92.78% | 0.98% | 99.40% | 91.67% |
| Cash | 7.22% | 0.00% | 99.02% | 11.90% |
| Preferred Stocks | 0.00% | 0.00% | 2.90% | 77.38% |
| Other | 0.00% | 0.00% | 52.74% | 90.48% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 61.45% |
| Bonds | 0.00% | 0.00% | 0.35% | 66.67% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | RMBTX % Rank | |
|---|---|---|---|---|
| Financial Services | 17.39% | 2.16% | 21.69% | 10.84% |
| Industrials | 15.21% | 12.46% | 32.63% | 96.39% |
| Technology | 13.40% | 0.00% | 22.43% | 40.96% |
| Healthcare | 11.11% | 0.00% | 18.67% | 3.61% |
| Consumer Cyclical | 10.89% | 9.23% | 27.42% | 74.70% |
| Consumer Defense | 10.11% | 2.29% | 13.66% | 4.82% |
| Basic Materials | 7.81% | 0.00% | 13.14% | 61.45% |
| Communication Services | 6.13% | 1.47% | 14.57% | 13.25% |
| Energy | 4.65% | 0.00% | 12.34% | 31.33% |
| Real Estate | 3.29% | 0.00% | 12.22% | 84.34% |
| Utilities | 0.00% | 0.00% | 4.57% | 97.59% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | RMBTX % Rank | |
|---|---|---|---|---|
| Non US | 91.81% | 0.00% | 99.37% | 71.43% |
| US | 0.96% | 0.00% | 99.03% | 71.43% |
RMBTX - Expenses
Operational Fees
| RMBTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.96% | 0.08% | 2.84% | 78.57% |
| Management Fee | 0.75% | 0.05% | 1.03% | 25.00% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.03% | 0.25% | N/A |
Sales Fees
| RMBTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 0.00% | 5.00% | N/A |
Trading Fees
| RMBTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 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.
| RMBTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 21.00% | 1.00% | 185.00% | 26.92% |
RMBTX - Distributions
Dividend Yield Analysis
| RMBTX | Category Low | Category High | RMBTX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.93% | 0.00% | 3.95% | 40.48% |
Dividend Distribution Analysis
| RMBTX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Quarterly | Annual |
Net Income Ratio Analysis
| RMBTX | Category Low | Category High | RMBTX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.99% | 0.03% | 2.41% | 62.65% |
Capital Gain Distribution Analysis
| RMBTX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 14, 2023 | $0.194 | OrdinaryDividend |
| Dec 13, 2022 | $0.180 | OrdinaryDividend |
| Dec 13, 2021 | $0.109 | OrdinaryDividend |
| Dec 10, 2020 | $0.063 | OrdinaryDividend |
| Dec 12, 2019 | $0.108 | OrdinaryDividend |
| Dec 13, 2018 | $0.018 | OrdinaryDividend |
RMBTX - Fund Manager Analysis
Managers
Masakazu Hosomizu
Start Date
Tenure
Tenure Rank
Jun 24, 2019
2.94
2.9%
Mr. Hosomizu is the portfolio manager of the Partnership. Mr. Hosomizu is responsible for structuring the Partnership’s portfolio, generating investment ideas and overseeing the investment research process. Mr. Hosomizu graduated from the University of Tokyo with a major in Law in 1998. After graduation, Mr. Hosomizu worked as a stockbroker of Nomura Securities in Japan. In 2001, Mr. Hosomizu moved to Chicago and received his MBA at the University of Chicago. After graduation, Mr. Hosomizu returned to Nomura Securities in New York to serve as a Japanese equity sales representative with key institutional investors in North America among his clients. In October 2005, Mr. Hosomizu became employed by CCM as an equity research analyst with a focus on small cap equity markets in Asia, particularly Japan, South Korea, and Taiwan. Mr. Hosomizu joined the General Partner on September 1, 2013. He is also a CFA Charterholder.
Jim Plumb
Start Date
Tenure
Tenure Rank
May 01, 2022
0.08
0.1%
Jim Plumb is Responsible for the day-to-day management of the International Fund’s investment portfolio since May 2022. Vice President and Portfolio Manager of the Adviser (since June 2017). Prior experience includes: IronBridge Capital Management (Senior Equity Analyst) (2005 to 2017).
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 21.76 | 7.58 | 18.43 |