Polen Emerging Markets Growth Fund
Name
As of 04/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.0%
1 yr return
2.0%
3 Yr Avg Return
-10.0%
5 Yr Avg Return
N/A
Net Assets
$19.6 M
Holdings in Top 10
47.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.96%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
$100,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
PGEIX - Profile
Distributions
- YTD Total Return -1.0%
- 3 Yr Annualized Total Return -10.0%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -0.65%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NamePolen Emerging Markets Growth Fund
-
Fund Family NamePolen Capital
-
Inception DateOct 16, 2020
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDamian Bird
Fund Description
The Fund typically invests in a portfolio of common stocks of companies in emerging markets that, in the view of the Adviser, have a sustainable competitive advantage. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings made for investment purposes), at the time of initial purchase, in equity or equity-related securities of issuers that: (i) have their principal securities trading market in an emerging country; (ii) alone or on a consolidated basis derive 50% or more of their annual revenue from goods produced, sales made or services performed in emerging countries; or (iii) are organized under the laws of, and have a principal office in, an emerging country. The Fund may also invest in depositary receipts of issuers described in (i), (ii), and (iii) above, or in exchange-traded funds (“ETFs”) that invest in an emerging country or countries. This 80% policy may be changed by the Board of Trustees without shareholder approval upon 60 days’ written notice to shareholders.
“Emerging countries” include those countries currently considered to be an emerging or developing country by the World Bank, the International Finance Corporation, the United Nations, or the countries’ authorities, and all countries represented in any widely-recognized index of emerging market securities. Typically, emerging markets are in countries that are in the process of industrialization, with lower gross national products (GNP) than more developed countries.
The Adviser uses intensive fundamental research processes to identify companies that it believes have certain attractive characteristics, which typically reflect an underlying competitive advantage. Those characteristics include: (i) consistent and sustainable high return on capital; (ii) strong earnings growth and free cash flow generation; (iii) strong balance sheets and; (iv) competent and shareholder-oriented management teams. The Fund invests in companies that the Adviser believes have a sustainable competitive advantage within an industry with high barriers to entry.
The Adviser believes that consistent earnings growth is the primary driver of intrinsic value growth and long-term stock price appreciation. Accordingly, the Adviser focuses on identifying and investing in a concentrated portfolio of high-quality growth companies that it believes have a competitive advantage and can deliver sustainable, above-average earnings growth. The Adviser integrates material environmental, social, and governance (ESG) factors into research analysis as part of a comprehensive evaluation of a company’s long-term financial sustainability. The Adviser believes that such companies not only have the potential to contribute greater returns to the Fund, but also may hold less risk of loss of capital.
The Fund is non-diversified, which means that a significant portion of the Fund’s assets may be invested in the securities of a single or small number of companies and/or in a more limited number of sectors than a diversified mutual fund. Although the Fund may not “concentrate” (invest 25% or more of its net assets) in any industry, the Fund may focus its investments from time to time in one or more sectors of the economy or stock market.
The Fund will usually sell a security if, in the view of the Adviser, there is a potential threat to the company’s competitive advantage or a degradation in its prospects for strong, long-term earnings growth. The Adviser may also sell a security if it is believed by the Adviser to be overvalued or if a more attractive investment opportunity exists. Although the Adviser may purchase and then sell a security in a shorter period of time, the Adviser typically invests in securities with the expectation of holding those investments on a long term basis.
A portion of the Fund’s assets may be held in cash or cash equivalent instruments, including, but not limited to, short term investment funds and/or U.S. Government securities. These cash or cash equivalent holdings may serve as collateral for the positions the Fund takes and also may also earn income for the Fund.
PGEIX - Performance
Return Ranking - Trailing
Period | PGEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.0% | -11.1% | 9.2% | 92.41% |
1 Yr | 2.0% | -11.1% | 30.5% | 93.89% |
3 Yr | -10.0%* | -24.5% | 7.4% | 76.66% |
5 Yr | N/A* | -8.3% | 10.6% | N/A |
10 Yr | N/A* | -3.2% | 6.1% | 98.92% |
* Annualized
Return Ranking - Calendar
Period | PGEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.0% | -6.5% | 35.5% | 56.31% |
2022 | -22.0% | -50.1% | -2.4% | 28.81% |
2021 | -12.0% | -33.1% | 22.5% | 78.88% |
2020 | N/A | -22.1% | 80.1% | 99.84% |
2019 | N/A | -0.7% | 42.0% | 99.83% |
Total Return Ranking - Trailing
Period | PGEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.0% | -11.1% | 9.2% | 92.41% |
1 Yr | 2.0% | -11.1% | 30.5% | 93.89% |
3 Yr | -10.0%* | -24.5% | 7.4% | 76.66% |
5 Yr | N/A* | -8.3% | 10.6% | N/A |
10 Yr | N/A* | -3.2% | 6.1% | 99.18% |
* Annualized
Total Return Ranking - Calendar
Period | PGEIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.0% | -2.7% | 42.0% | 76.26% |
2022 | -21.9% | -42.2% | 1.9% | 42.52% |
2021 | -12.0% | -32.5% | 33.1% | 96.16% |
2020 | N/A | -20.0% | 81.6% | 100.00% |
2019 | N/A | 2.3% | 42.0% | 99.83% |
NAV & Total Return History
PGEIX - Holdings
Concentration Analysis
PGEIX | Category Low | Category High | PGEIX % Rank | |
---|---|---|---|---|
Net Assets | 19.6 M | 682 K | 103 B | 91.69% |
Number of Holdings | 33 | 10 | 7049 | 98.79% |
Net Assets in Top 10 | 8.95 M | 118 K | 19.2 B | 89.41% |
Weighting of Top 10 | 47.23% | 0.7% | 122.2% | 8.46% |
Top 10 Holdings
- Tencent Music Entertainment Group 6.13%
- Taiwan Semiconductor Manufacturing Co Ltd 5.92%
- Dlocal Ltd/Uruguay 4.76%
- NetEase Inc 4.63%
- Wal-Mart de Mexico SAB de CV 4.47%
- Fomento Economico Mexicano SAB de CV 4.41%
- Wizz Air Holdings Plc 4.39%
- HDFC Bank Ltd 4.29%
- Infosys Ltd 4.13%
- Prosus NV 4.10%
Asset Allocation
Weighting | Return Low | Return High | PGEIX % Rank | |
---|---|---|---|---|
Stocks | 97.62% | 0.00% | 103.65% | 40.08% |
Cash | 2.88% | -2.03% | 99.29% | 29.62% |
Preferred Stocks | 0.00% | 0.00% | 10.09% | 79.62% |
Other | 0.00% | -1.64% | 50.31% | 62.73% |
Convertible Bonds | 0.00% | 0.00% | 7.40% | 53.98% |
Bonds | 0.00% | 0.00% | 94.30% | 59.38% |
Stock Sector Breakdown
Weighting | Return Low | Return High | PGEIX % Rank | |
---|---|---|---|---|
Consumer Cyclical | 48.94% | 0.00% | 48.94% | 0.14% |
Consumer Defense | 21.22% | 0.00% | 25.90% | 1.36% |
Communication Services | 14.01% | 0.00% | 39.29% | 5.29% |
Financial Services | 8.18% | 0.00% | 48.86% | 97.42% |
Industrials | 3.07% | 0.00% | 43.53% | 87.92% |
Healthcare | 2.52% | 0.00% | 16.53% | 72.32% |
Technology | 2.06% | 0.00% | 47.50% | 99.59% |
Utilities | 0.00% | 0.00% | 39.12% | 84.94% |
Real Estate | 0.00% | 0.00% | 17.15% | 92.67% |
Energy | 0.00% | 0.00% | 24.80% | 93.35% |
Basic Materials | 0.00% | 0.00% | 30.03% | 97.29% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | PGEIX % Rank | |
---|---|---|---|---|
Non US | 75.29% | 0.00% | 100.18% | 80.03% |
US | 22.34% | 0.00% | 101.58% | 15.55% |
PGEIX - Expenses
Operational Fees
PGEIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.96% | 0.03% | 24.48% | 22.21% |
Management Fee | 1.00% | 0.00% | 2.00% | 79.33% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.85% | N/A |
Sales Fees
PGEIX 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
PGEIX 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.
PGEIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 189.00% | 6.68% |
PGEIX - Distributions
Dividend Yield Analysis
PGEIX | Category Low | Category High | PGEIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 10.34% | 90.08% |
Dividend Distribution Analysis
PGEIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Annual | Annual |
Net Income Ratio Analysis
PGEIX | Category Low | Category High | PGEIX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.65% | -1.98% | 17.62% | 92.21% |
Capital Gain Distribution Analysis
PGEIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Quarterly | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 06, 2023 | $0.003 | OrdinaryDividend |
Dec 07, 2022 | $0.007 | OrdinaryDividend |
Jun 16, 2017 | $0.115 | OrdinaryDividend |
Dec 27, 2016 | $0.061 | OrdinaryDividend |
Dec 26, 2013 | $0.130 | OrdinaryDividend |
Dec 26, 2012 | $0.125 | OrdinaryDividend |
Dec 24, 2009 | $0.163 | OrdinaryDividend |
Dec 31, 2008 | $0.004 | OrdinaryDividend |
PGEIX - Fund Manager Analysis
Managers
Damian Bird
Start Date
Tenure
Tenure Rank
Feb 19, 2020
2.28
2.3%
Mr. Bird joined Polen Capital Management in 2019. Prior to joining Polen Capital, Mr. Bird was an Emerging Market Portfolio Manager at LGM Investments. Mr. Bird began his career at Arisaig Partners as an Investment Analyst, primarily focusing on consumer companies in the developing world. Mr. Bird received his B.A. in History & Economics from the University of Oxford and has lived and worked in Singapore, Dubai and South Africa. Mr. Bird is a CFA® charterholder.
Dafydd Lewis
Start Date
Tenure
Tenure Rank
Apr 12, 2021
1.13
1.1%
Mr. Lewis joined Polen Capital in 2021. He is co-portfolio manager of the firm’s Global Emerging Markets Growth strategy. Prior to joining Polen Capital, Mr. Lewis was an Emerging Market Portfolio Manager at LGM Investments, overseeing the firm’s Frontier Markets strategy and being a member of the Investment Leadership team. Mr. Lewis began his career at HSBC in 2003 and has been involved in Emerging Markets investing since 2005. He earned his BSc (Hons) in Economics from the University of Bath. Mr. Lewis is a CFA® charterholder.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 33.71 | 6.54 | 13.42 |