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Name

As of 04/23/2024

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

Polar Capital Emerging Market Stars Fund

POLEX | Fund

$7.78

$139 M

0.41%

$0.03

2.45%

Vitals

YTD Return

2.4%

1 yr return

10.7%

3 Yr Avg Return

-8.2%

5 Yr Avg Return

N/A

Net Assets

$139 M

Holdings in Top 10

44.7%

52 WEEK LOW AND HIGH

$7.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.45%

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

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/23/2024

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

Polar Capital Emerging Market Stars Fund

POLEX | Fund

$7.78

$139 M

0.41%

$0.03

2.45%

POLEX - Profile

Distributions

  • YTD Total Return 2.4%
  • 3 Yr Annualized Total Return -8.2%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.14%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Polar Capital Emerging Market Stars Fund
  • Fund Family Name
    Polar Capital
  • Inception Date
    Dec 30, 2020
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Naomi Waistell

Fund Description

The Fund will seek to achieve its investment objective by primarily investing in a portfolio of equity securities and equity related securities of, or relating to, companies which are domiciled, or exercise the predominant part of their economic activity, in developing capital markets (“Emerging Markets”).
Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities and other equity-related investments of issuers located in Emerging Markets countries. The Fund considers an issuer to be located in an Emerging Markets country if at least 50% of the issuer’s assets, gross revenues or profits during the most recent fiscal year represents assets or activities located in such countries. Emerging Markets refers to any country represented in the MSCI Emerging Markets Index.
The securities in which the Fund will invest will include shares, equities, equity warrants, preferred shares, shares in collective investment schemes with investment policies that are consistent with the Fund’s investment objective (including European Undertakings for the Collective Investment in Transferable Securities or Alternative Investment Funds, shares of U.S. mutual funds, or other exchange traded funds) and securities convertible into shares.
The Fund will invest in and have direct access to China A shares listed on the Shanghai Stock Exchange (“SSE”) via the Shanghai-Hong Kong Stock Connect and Shenzhen‑Hong Kong Stock Connect Schemes (collectively, “Connect Scheme”). The Fund may indirectly gain access to China A Shares by purchasing equity-related instruments, participation notes and participatory certificates.
The Fund may also invest in global, American and European depository receipts for the purpose of gaining exposure to underlying equity securities.
The Fund may utilize various derivative instruments and related strategies to gain exposure to one or more issuers or other assets. The Fund may utilize derivatives of all types and may invest in futures, forwards, options, contracts for difference, swaps and securities with embedded derivatives or elements of derivative exposure including, but not limited to, equity warrants and structured notes, such as Participatory Notes (“P-Notes”) (which will not be leveraged).
The Fund expects to primarily use derivatives for hedging or efficient portfolio management purposes or to reduce portfolio risk. The Fund may also use them to increase the Fund’s investment exposure beyond that which it could achieve by investing directly in more conventional securities.
Securities with embedded derivatives or elements of derivative exposure, such as equity warrants and structured notes such as P‑Notes (which will not be leveraged) may be used to gain exposure to underlying equity or equity related securities as a more efficient and cheaper alternative to direct investment in that security.
The Fund’s investments in derivatives and other synthetic instruments (such as P-Notes and American Depository Receipts) that have economic characteristics similar to these investments will be counted toward satisfaction of the Fund’s 80% investment policy.
In evaluating investments for the Fund, the Adviser takes into account environmental, social and/or governance (“ESG”) factors. The Adviser may give various ESG factors equal consideration or may focus on one or more of those factors as it considers appropriate. ESG Factors will only be one consideration in the Adviser’s evaluation of any potential investment, and the effect of ESG factors on the Adviser’s decision whether to invest in any case will vary depending on the judgement of the Adviser.
Read More

POLEX - Performance

Return Ranking - Trailing

Period POLEX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% -9.6% 11.2% 32.11%
1 Yr 10.7% -9.4% 31.2% 38.26%
3 Yr -8.2%* -24.1% 7.4% 62.54%
5 Yr N/A* -7.8% 10.8% N/A
10 Yr N/A* -3.1% 6.2% N/A

* Annualized

Return Ranking - Calendar

Period POLEX Return Category Return Low Category Return High Rank in Category (%)
2023 11.9% -6.5% 35.5% 24.15%
2022 -29.3% -50.1% -2.4% 82.24%
2021 N/A -33.1% 22.5% N/A
2020 N/A -22.1% 80.1% N/A
2019 N/A -0.7% 42.0% N/A

Total Return Ranking - Trailing

Period POLEX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% -9.6% 11.2% 32.11%
1 Yr 10.7% -9.4% 31.2% 38.26%
3 Yr -8.2%* -24.1% 7.4% 62.54%
5 Yr N/A* -7.8% 10.8% N/A
10 Yr N/A* -3.1% 6.2% N/A

* Annualized

Total Return Ranking - Calendar

Period POLEX Return Category Return Low Category Return High Rank in Category (%)
2023 12.4% -2.7% 42.0% 36.91%
2022 -29.3% -42.2% 1.9% 89.09%
2021 N/A -32.5% 33.1% N/A
2020 N/A -20.0% 81.6% N/A
2019 N/A 2.3% 42.0% N/A

NAV & Total Return History

POLEX - Holdings

Concentration Analysis

POLEX Category Low Category High POLEX % Rank
Net Assets 139 M 682 K 103 B 70.11%
Number of Holdings 53 10 7049 86.46%
Net Assets in Top 10 62.2 M 118 K 19.2 B 62.60%
Weighting of Top 10 44.72% 0.7% 122.2% 13.29%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co., Ltd. TWD10 9.66%
  2. Samsung Electronics Co Ltd. KRW100 7.68%
  3. Tencent Holdings Ltd. HKD0.00002 4.45%
  4. Reliance Industries Ltd. INR10(100%DEMAT) 4.27%
  5. Phoenix Mills INR2 4.15%
  6. HDFC Bank Ltd. INR1 3.13%
  7. Ivanhoe Mines Ltd. COM NPV CL'A' 3.02%
  8. Grupo Financiero Banorte S.A.B. de C.V. COM NPV SERIES O 2.88%
  9. PDD Holdings Inc. SPON ADS EACH REP 4 ORD SHS 2.75%
  10. Mercadolibre Inc COM USD0.001 2.72%

Asset Allocation

Weighting Return Low Return High POLEX % Rank
Stocks 		96.25% 0.00% 103.65% 60.72%
Preferred Stocks 		2.34% 0.00% 10.09% 23.06%
Cash 		1.41% -2.03% 99.29% 57.37%
Other 		0.00% -1.64% 50.31% 53.75%
Convertible Bonds 		0.00% 0.00% 7.40% 36.30%
Bonds 		0.00% 0.00% 94.30% 43.83%

Stock Sector Breakdown

Weighting Return Low Return High POLEX % Rank
Technology 		34.73% 0.00% 47.50% 3.53%
Consumer Cyclical 		16.38% 0.00% 48.94% 17.91%
Financial Services 		11.59% 0.00% 48.86% 92.40%
Communication Services 		11.01% 0.00% 39.29% 23.74%
Real Estate 		8.97% 0.00% 17.15% 2.31%
Basic Materials 		5.66% 0.00% 30.03% 70.56%
Energy 		4.86% 0.00% 24.80% 39.08%
Healthcare 		3.46% 0.00% 16.53% 58.34%
Industrials 		2.36% 0.00% 43.53% 91.72%
Consumer Defense 		0.99% 0.00% 25.90% 97.83%
Utilities 		0.00% 0.00% 39.12% 80.73%

Stock Geographic Breakdown

Weighting Return Low Return High POLEX % Rank
Non US 		84.80% 0.00% 100.18% 50.00%
US 		11.45% 0.00% 101.58% 45.17%

POLEX - Expenses

Operational Fees

POLEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.45% 0.03% 24.48% 11.17%
Management Fee 1.00% 0.00% 2.00% 77.45%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.85% N/A

Sales Fees

POLEX 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

POLEX 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.

POLEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 189.00% N/A

POLEX - Distributions

Dividend Yield Analysis

POLEX Category Low Category High POLEX % Rank
Dividend Yield 0.41% 0.00% 10.26% 86.46%

Dividend Distribution Analysis

POLEX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annual

Net Income Ratio Analysis

POLEX Category Low Category High POLEX % Rank
Net Income Ratio -0.14% -1.98% 17.62% 80.67%

Capital Gain Distribution Analysis

POLEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Quarterly Annually

Distributions History

View More +

POLEX - Fund Manager Analysis

Managers

Naomi Waistell

Start Date

Tenure

Tenure Rank

Dec 30, 2020

1.42

1.4%

Ms. Waistell joined Polar Capital in August 2020. From February 2010, she worked at Newton Investment Management where, since September 2014, she was an investment manager on the emerging markets and Asian equity team. Prior to that, she was an investment manager on the European and Global equity teams at Newton, where she has been employed since February 2010. Ms. Whitbread is an investment manager on the emerging markets equities team at Newton, where she was employed from 2005 to 2010 and rejoined in January 2011. Naomi began her career as an associate at Praefinium Partners Investment Management in 2007 before moving to the financial consultancy arm of the Capita Group in 2009. Her specific area of interest and expertise is managing portfolios with an ESG focus.

Jorry Rask Nøddekær

Start Date

Tenure

Tenure Rank

Dec 30, 2020

1.42

1.4%

Joined Polar Capital in June 2018. Prior to joining Polar Capital, Jorry worked at various firms including Nordea Investment Management, Danske Capital, F&C Investment Management, New Star Asset Management and BankInvest Asset Management. Jorry studied at Aarhus University in Denmark where he gained an MSc in economics and finance.

Tenure Analysis

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

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