Redwheel Global Emerging Equity Fund
Name
As of 04/16/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-2.1%
1 yr return
0.0%
3 Yr Avg Return
-11.2%
5 Yr Avg Return
0.3%
Net Assets
$186 M
Holdings in Top 10
34.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.30%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 122.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$10,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/16/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
RWCEX - Profile
Distributions
- YTD Total Return -2.1%
- 3 Yr Annualized Total Return -11.2%
- 5 Yr Annualized Total Return 0.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.24%
- Dividend Yield 0.7%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameRedwheel Global Emerging Equity Fund
-
Fund Family NameRWC
-
Inception DateDec 30, 2016
-
Shares Outstanding4863738
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Malloy
Fund Description
Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of emerging market companies, and in other instruments,
principally derivatives and shares of investment companies (including exchange-traded funds (“ETFs”)), that have economic characteristics similar to such securities. This investment policy may be changed by the Fund upon 60 days’ prior written notice to shareholders.
The equity securities in which the Fund invests are primarily publicly traded common stocks, but may also include private placements; rights and warrants; depositary receipts (including American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”) and Global Depositary Receipts (“GDRs”)), which are certificates typically issued by a bank or trust company that represent ownership interests in securities of non-U.S. companies; and securities immediately convertible into equity securities (principally bonds and preferred stock that are immediately convertible into common stock). The Fund may also invest in “out-of-the-money” convertible securities and may invest in securities of companies with any market capitalization.
The Fund considers a company to be an emerging market company if, at the time of purchase: (i) at least 50% of the company’s assets are located in emerging or frontier market countries; (ii) at least 50% of the company’s revenue is generated in emerging or frontier market countries; or (iii) the company maintains its principal place of business in an emerging or frontier market country. The Fund considers emerging market countries to be: (i) countries that have an “emerging stock market” in a “developing economy” as defined by the International Finance Corporation; (ii) countries that have “low or middle economies” according to the World Bank; (iii) countries listed in a World Bank publication as “developing”; (iv) countries considered “industrially developing countries” by the International Monetary Fund; and (v) other countries that have similar characteristics, as determined by the Adviser. The Fund considers frontier market countries to be countries included in the MSCI Frontier Markets Index and other countries that have similar characteristics, as determined by the Adviser. Under normal circumstances, the Fund invests in at least three emerging or frontier market countries. From time to time, the Fund may focus its investments in a particular country, such as the People’s Republic of China (“China”). The Fund may invest in A-Shares of companies based in China that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange through the Shanghai – Hong Kong and Shenzhen – Hong Kong Stock Connect programs (“Stock Connect”). Stock Connect is a mutual stock market access program designed to, among other things, enable foreign investments in China.
The Fund may utilize derivatives, principally equity-linked notes (including participation notes and other instruments whose return is determined by the performance of a single equity security, a basket of equity securities or an equity index) and swaps, to seek to replicate equity exposure in certain foreign markets where direct investment is either impossible or difficult due to local investment restrictions. For purposes of the Fund’s 80% investment policy, the Fund generally values its derivative instruments using the market values of the investments, but reserves the right to use an investment’s notional value, where determined appropriate in the Adviser’s discretion.
In selecting investments for the Fund, the Adviser implements its “Growth At A Reasonable Price” investment philosophy by combining top-down analyses of economic, political and social factors with bottom-up quantitative and qualitative fundamental research to seek to identify countries, sectors and companies with attractive risk/return profiles based, in part, on the Adviser’s experience investing in a wide range of markets at various stages of development. The Adviser may adjust the Fund’s portfolio to manage its liquidity and position sizing, and may sell a security that reaches its price target, or that is negatively impacted by changes in macroeconomic conditions or geographic, sector or issuer specific factors.
RWCEX - Performance
Return Ranking - Trailing
Period | RWCEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.1% | -11.6% | 10.4% | 71.85% |
1 Yr | 0.0% | -13.0% | 31.1% | 78.35% |
3 Yr | -11.2%* | -24.8% | 7.1% | 84.46% |
5 Yr | 0.3%* | -8.8% | 10.4% | 67.46% |
10 Yr | N/A* | -3.1% | 6.2% | N/A |
* Annualized
Return Ranking - Calendar
Period | RWCEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.9% | -6.5% | 35.5% | 86.04% |
2022 | -24.9% | -50.1% | -2.4% | 57.26% |
2021 | -18.2% | -33.1% | 22.5% | 92.77% |
2020 | 34.3% | -22.1% | 80.1% | 9.57% |
2019 | 23.4% | -0.7% | 42.0% | 18.82% |
Total Return Ranking - Trailing
Period | RWCEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.1% | -11.6% | 10.4% | 71.85% |
1 Yr | 0.0% | -13.0% | 31.1% | 78.35% |
3 Yr | -11.2%* | -24.8% | 7.1% | 84.46% |
5 Yr | 0.3%* | -8.8% | 10.4% | 67.46% |
10 Yr | N/A* | -3.1% | 6.2% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | RWCEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.6% | -2.7% | 42.0% | 91.19% |
2022 | -24.5% | -42.2% | 1.9% | 65.08% |
2021 | -5.0% | -32.5% | 33.1% | 74.04% |
2020 | 34.6% | -20.0% | 81.6% | 10.34% |
2019 | 24.0% | 2.3% | 42.0% | 28.71% |
NAV & Total Return History
RWCEX - Holdings
Concentration Analysis
RWCEX | Category Low | Category High | RWCEX % Rank | |
---|---|---|---|---|
Net Assets | 186 M | 682 K | 103 B | 66.13% |
Number of Holdings | 62 | 10 | 7049 | 77.11% |
Net Assets in Top 10 | 64.2 M | 118 K | 19.2 B | 62.25% |
Weighting of Top 10 | 34.57% | 0.7% | 122.2% | 44.10% |
Top 10 Holdings
- PDD HOLDINGS INC DEPOSITARY RECEIPT 4.92%
- TENCENT HOLDINGS LTD COMMON STOCK 4.08%
- IVANHOE MINES LTD-CL A COMMON STOCK 3.85%
- SK HYNIX INC COMMON STOCK 3.71%
- KUAISHOU TECHNOLOGY COMMON STOCK 3.44%
- SAMSUNG ELECTRONICS CO LTD COMMON STOCK 3.34%
- VALE SA-SP ADR DEPOSITARY RECEIPT 3.13%
- GOLD FIELDS LTD-SPONS ADR DEPOSITARY RECEIPT 2.83%
- Itau Unibanco Holding SA PREFERRED STOCK 2.64%
- ZIJIN MINING GROUP CO LTD-H COMMON STOCK 2.63%
Asset Allocation
Weighting | Return Low | Return High | RWCEX % Rank | |
---|---|---|---|---|
Stocks | 96.37% | 0.00% | 103.65% | 59.71% |
Preferred Stocks | 2.64% | 0.00% | 10.09% | 17.00% |
Cash | 0.99% | -2.03% | 99.29% | 68.54% |
Other | 0.00% | -1.64% | 50.31% | 20.08% |
Convertible Bonds | 0.00% | 0.00% | 7.40% | 26.28% |
Bonds | 0.00% | 0.00% | 94.30% | 35.34% |
Stock Sector Breakdown
Weighting | Return Low | Return High | RWCEX % Rank | |
---|---|---|---|---|
Basic Materials | 22.96% | 0.00% | 30.03% | 1.08% |
Technology | 16.92% | 0.00% | 47.50% | 82.93% |
Financial Services | 14.85% | 0.00% | 48.86% | 87.67% |
Communication Services | 11.37% | 0.00% | 39.29% | 18.29% |
Consumer Cyclical | 10.42% | 0.00% | 48.94% | 74.12% |
Consumer Defense | 7.30% | 0.00% | 25.90% | 31.03% |
Energy | 5.20% | 0.00% | 24.80% | 32.25% |
Industrials | 4.51% | 0.00% | 43.53% | 72.63% |
Healthcare | 4.08% | 0.00% | 16.53% | 45.80% |
Real Estate | 1.98% | 0.00% | 17.15% | 39.70% |
Utilities | 0.40% | 0.00% | 39.12% | 65.04% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | RWCEX % Rank | |
---|---|---|---|---|
Non US | 74.38% | 0.00% | 100.18% | 81.26% |
US | 21.99% | 0.00% | 101.58% | 15.93% |
RWCEX - Expenses
Operational Fees
RWCEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.30% | 0.03% | 24.48% | 51.88% |
Management Fee | 0.90% | 0.00% | 2.00% | 51.61% |
12b-1 Fee | N/A | 0.00% | 1.00% | 3.94% |
Administrative Fee | N/A | 0.01% | 0.85% | N/A |
Sales Fees
RWCEX 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
RWCEX 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.
RWCEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 122.00% | 0.00% | 189.00% | 93.27% |
RWCEX - Distributions
Dividend Yield Analysis
RWCEX | Category Low | Category High | RWCEX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.69% | 0.00% | 10.30% | 81.53% |
Dividend Distribution Analysis
RWCEX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Monthly | Annual |
Net Income Ratio Analysis
RWCEX | Category Low | Category High | RWCEX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.24% | -1.98% | 17.62% | 68.47% |
Capital Gain Distribution Analysis
RWCEX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Quarterly | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 29, 2023 | $0.073 | OrdinaryDividend |
Dec 30, 2022 | $0.055 | OrdinaryDividend |
Dec 31, 2021 | $0.311 | OrdinaryDividend |
Dec 31, 2020 | $0.040 | OrdinaryDividend |
Dec 31, 2019 | $0.061 | OrdinaryDividend |
Dec 31, 2018 | $0.015 | OrdinaryDividend |
Dec 29, 2017 | $0.054 | OrdinaryDividend |
RWCEX - Fund Manager Analysis
Managers
John Malloy
Start Date
Tenure
Tenure Rank
Dec 30, 2016
5.42
5.4%
John joined RWC in March 2015 from Everest Capital to co-manage the Emerging and Frontier Markets team with James. He has 23 years of experience in global investment management, commodity, debt and equity research analysis. Before joining RWC, John spent 18 years at Everest Capital where he focused on emerging markets investing. Prior to this he was a high yield manager at Barings focusing on Latin America and US markets. John holds a BS in Management from Norwich University, an MBA from Boston University and speaks Spanish.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 33.71 | 6.54 | 13.42 |