Sprucegrove International Equity Fund
Name
As of 04/16/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.2%
1 yr return
5.1%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$148 M
Holdings in Top 10
21.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.69%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
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 04/16/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SPRNX - Profile
Distributions
- YTD Total Return -1.2%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.49%
- Dividend Yield 0.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameSprucegrove International Equity Fund
-
Fund Family NameSprucegrove Investment Management
-
Inception DateSep 30, 1985
-
Shares Outstanding11927
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerShirley Woo
Fund Description
Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities. This investment policy may be changed by the Fund upon 60 days’ prior written notice to shareholders. For purposes of the Fund’s 80% investment policy, equity securities include common and preferred stock, warrants and rights, securities convertible into other equity securities, and securities of other investment companies. The Fund may invest in equity securities of companies of any market capitalization.
Under normal market conditions: (i) the Fund will invest in securities of issuers tied economically to at least six different countries excluding the United States; and (ii) substantially all of the Fund’s assets will be invested outside of the United States. The Fund may invest in securities of issuers tied economically to emerging markets, which Sprucegrove Investment Management Ltd. (the “Adviser”), the Fund’s investment adviser, identifies by reference to emerging market countries included in the MSCI EAFE + Emerging Markets Index (“Emerging Markets”).
The Adviser employs a value approach to managing the Fund’s assets, emphasizing long-term investment and focusing on the selection of individual securities using a bottom-up, research driven approach. Country and sector exposures result from this stock-selection process. The Adviser will consider a company for inclusion in the Fund’s portfolio if the company meets the Adviser’s standards of investment quality, including what the Adviser considers to be a history of above average financial performance, a secure financial position, reputable management, and a growth opportunity in terms of sales, earnings, and share price. The Adviser’s valuation criteria include normalized price earnings multiples, price-to-book ratios and dividend yield. The Adviser may sell a security, among other reasons, if it considers the security’s market valuation to be too high, if it develops a less favorable view of the issuer or if it views other opportunities to be more attractive.
SPRNX - Performance
Return Ranking - Trailing
Period | SPRNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.2% | -6.2% | 27.2% | 84.07% |
1 Yr | 5.1% | -6.4% | 19.4% | 64.59% |
3 Yr | N/A* | -17.2% | 45.3% | 89.50% |
5 Yr | N/A* | -34.5% | 75.1% | 71.54% |
10 Yr | N/A* | -0.6% | 16.3% | 75.91% |
* Annualized
Return Ranking - Calendar
Period | SPRNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.5% | -7.3% | 22.0% | 80.15% |
2022 | -22.6% | -43.6% | 71.3% | 90.51% |
2021 | N/A | -28.5% | 18.9% | N/A |
2020 | N/A | -90.1% | 992.1% | N/A |
2019 | N/A | -1.9% | 38.8% | N/A |
Total Return Ranking - Trailing
Period | SPRNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.2% | -6.2% | 27.2% | 84.07% |
1 Yr | 5.1% | -6.4% | 19.4% | 64.59% |
3 Yr | N/A* | -17.2% | 45.3% | 84.91% |
5 Yr | N/A* | -34.5% | 75.1% | 67.02% |
10 Yr | N/A* | -0.6% | 16.3% | 72.73% |
* Annualized
Total Return Ranking - Calendar
Period | SPRNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 17.4% | 3.2% | 41.4% | 34.22% |
2022 | -22.6% | -43.6% | 144.8% | 96.23% |
2021 | N/A | -22.6% | 56.0% | N/A |
2020 | N/A | -89.7% | 1010.8% | N/A |
2019 | N/A | 4.3% | 38.8% | N/A |
NAV & Total Return History
SPRNX - Holdings
Concentration Analysis
SPRNX | Category Low | Category High | SPRNX % Rank | |
---|---|---|---|---|
Net Assets | 148 M | 2.56 M | 425 B | 81.34% |
Number of Holdings | 87 | 1 | 10801 | 60.32% |
Net Assets in Top 10 | 31.4 M | 0 | 41 B | 84.19% |
Weighting of Top 10 | 21.20% | 2.7% | 112.8% | 59.68% |
Top 10 Holdings
- NOVARTIS AG-REG COMMON STOCK 2.45%
- CRH PLC COMMON STOCK 2.43%
- NITTO DENKO CORP COMMON STOCK 2.09%
- BERKELEY GROUP HOLDINGS/THE COMMON STOCK 2.07%
- IMI PLC COMMON STOCK 2.07%
- HSBC HOLDINGS PLC COMMON STOCK 2.04%
- SAMSUNG ELECTR-GDR REG S DEPOSITARY RECEIPT 2.02%
- SMITHS GROUP PLC COMMON STOCK 2.02%
- RYANAIR HOLDINGS PLC-SP ADR DEPOSITARY RECEIPT 2.01%
- SAP SE COMMON STOCK 1.98%
Asset Allocation
Weighting | Return Low | Return High | SPRNX % Rank | |
---|---|---|---|---|
Stocks | 95.14% | 0.00% | 122.60% | 84.63% |
Preferred Stocks | 3.08% | -0.01% | 7.80% | 3.51% |
Cash | 1.79% | -22.43% | 100.00% | 49.63% |
Other | 0.00% | -2.97% | 43.01% | 48.32% |
Convertible Bonds | 0.00% | 0.00% | 4.18% | 85.76% |
Bonds | 0.00% | -0.68% | 71.30% | 86.82% |
Stock Sector Breakdown
Weighting | Return Low | Return High | SPRNX % Rank | |
---|---|---|---|---|
Industrials | 20.55% | 5.17% | 99.49% | 9.30% |
Consumer Cyclical | 18.77% | 0.00% | 36.36% | 1.65% |
Basic Materials | 17.75% | 0.00% | 23.86% | 1.80% |
Financial Services | 14.34% | 0.00% | 47.75% | 86.21% |
Consumer Defense | 6.50% | 0.00% | 32.29% | 88.16% |
Healthcare | 6.42% | 0.00% | 21.01% | 94.60% |
Energy | 5.84% | 0.00% | 16.89% | 29.24% |
Technology | 5.15% | 0.00% | 36.32% | 93.85% |
Communication Services | 3.29% | 0.00% | 21.69% | 89.66% |
Real Estate | 0.85% | 0.00% | 14.59% | 67.17% |
Utilities | 0.55% | 0.00% | 13.68% | 81.11% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | SPRNX % Rank | |
---|---|---|---|---|
Non US | 84.11% | 0.00% | 121.07% | 72.62% |
US | 11.02% | 0.00% | 103.55% | 26.65% |
SPRNX - Expenses
Operational Fees
SPRNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.69% | 0.01% | 18.22% | 76.39% |
Management Fee | 0.50% | 0.00% | 1.65% | 36.80% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 1.00% | N/A |
Sales Fees
SPRNX 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
SPRNX 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.
SPRNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 2.00% | 247.00% | N/A |
SPRNX - Distributions
Dividend Yield Analysis
SPRNX | Category Low | Category High | SPRNX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 25.55% | 30.61% |
Dividend Distribution Analysis
SPRNX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | Quarterly | Annual |
Net Income Ratio Analysis
SPRNX | Category Low | Category High | SPRNX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.49% | -0.93% | 6.38% | 17.54% |
Capital Gain Distribution Analysis
SPRNX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 29, 2023 | $2.052 | OrdinaryDividend |
Dec 31, 2021 | $1.713 | OrdinaryDividend |
SPRNX - Fund Manager Analysis
Managers
Shirley Woo
Start Date
Tenure
Tenure Rank
Mar 31, 2021
1.17
1.2%
Ms. Woo was a founding shareholder of Sprucegrove and joined in 1993 as an Assistant Portfolio Manager, specializing in International Equities. In 2001, Ms. Woo was appointed Portfolio Manager and Co-Lead of the International Equities strategy, a role in which she currently holds. Ms. Woo served as Research Director from 2009 to 2011 and was appointed to the Sprucegrove Business Management Committee in 2005 with the responsibility for managing the day to day running of the business. In 2013, Ms. Woo was appointed to the Sprucegrove Board of Directors.
Arjun Kumar
Start Date
Tenure
Tenure Rank
Mar 31, 2021
1.17
1.2%
Mr. Kumar joined Sprucegrove in 2002 as an Investment Analyst, focusing on global equities. In 2010, Mr. Kumar was promoted to Senior Investment Analyst, with a larger role in mentoring and training new Analysts. As an analyst Mr. Kumar’s broad coverage included companies globally, particularly in technology, banking and emerging markets. Mr. Kumar was promoted to Assistant Portfolio Manager in 2013 and in 2014, Mr. Kumar was appointed Portfolio Manager and Co-Lead of the International Equities strategy, a role in which he currently holds.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 30.35 | 6.25 | 3.25 |