Global Small Cap Equity Fund

$101.05
NAV
+$1.06 / +1.06%
$34.8M
Fund assets
Not available
Year-to-date return
2/20/2020
Fund inception date
Data as of 7/22/2024
Fund overview
Targeting stocks with strong financial flexibility
The Global Small Cap Equity Fund seeks to uncover companies with strong financial flexibility and the potential to provide future shareholder value creation.

Seeks long-term capital appreciation by investing at least two-thirds of its assets in equity securities of small-capitalisation companies located worldwide, with a focus on companies that are well managed, have flexible balance sheets and sustainable cash flows, and are undervalued relative to their intrinsic value

Key differentiators

  • Uses a disciplined approach to identify companies with long-term competitive advantages, balance sheet flexibility and sustainable free cash flow
  • Leverages a CPA-based approach to financial statement analysis
  • Exploits market inefficiencies by ingraining risk management throughout the investment process

General facts

ISIN

LU2787193163

SEDOL

BRRGVM8

Bloomberg

ALGLSES LX

SFDR classification

8

Minimum investment

$

Share class launch date

5/21/2024

Annual management fee

0.50%

Total expense ratio (TER)

0.60%

Benchmark name

MSCI World Small Cap Index (Net)

Settlement

T+2

Performance

Past performance is not indicative of future results.

Calendar year

Calendar year

For regulatory reasons, we are unable to show performance until there is a 12 month performance record.
Average annual returns

Average annual returns

For regulatory reasons, we are unable to show performance until there is a 12 month performance record.
Cumulative

Cumulative

For regulatory reasons, we are unable to show performance until there is a 12 month performance record.
Performance and volatility metrics

Performance and volatility metrics

Products must have at least a 36 month performance record before we show these metrics.
Morningstar ratings and rankings

Morningstar ratings and rankings

Investments must have at least 36 continuous months of total returns in order to receive a rating from Morningstar.

Prices and distributions

Historical prices

YTD high $102.05 7/16/2024
YTD low $95.69 7/9/2024
52-week high $102.05 7/16/2024
52-week low $95.69 7/9/2024
2023 high -
2023 low -

Composition

Portfolio statistics

Portfolio statistics

(as of 6/30/2024)
Fund Benchmark
Number of Holdings 97 4056

Equity Style Box

(as of 6/30/2024) Overview chart

Placement within the Morningstar Equity Style Box is based on two variables: relative median market capitalization and relative price valuations (price/book and price/earnings) of the fund’s portfolio holdings. These numbers are drawn from the fund’s portfolio holdings figures most recently entered into Morningstar’s database and the corresponding market conditions. The Ownership Zone is represented by a shaded area surrounding the centroid. This zone encompasses 75% of a portfolio’s holdings on an asset-weighted basis and is designed to be a visual measure of how wide-ranging the portfolio is.

Holdings

Top 10 holdings

(as of 6/30/2024)
Security
Fund
Innospec Inc.
4.09%
Novanta Inc
3.28%
Gibraltar Industries, Inc.
3.16%
J & J Snack Foods Corp.
2.79%
Ansell Limited
2.58%
Spectris plc
2.57%
Alten SA
2.29%
CSW Industrials, Inc.
2.08%
Hanover Insurance Group, Inc.
2.03%
Progress Software Corporation
2.03%
Top 10 represents 26.90% of total net assets

Based on ending weights as of month-end. Source: FactSet. The information shown is not intended to be, nor should it be construed to be, a recommendation to buy or sell an individual security.

Sector allocation

Sector allocation

(as of 6/30/2024)
Type
Fund
Benchmark
Industrials
29.98% 19.94%
Information technology
18.72% 11.30%
Materials
11.34% 7.48%
Consumer staples
10.70% 4.81%
Health care
10.44% 9.64%
Consumer discretionary
6.97% 13.34%
Financials
5.18% 15.07%
Energy
2.62% 5.05%
Real estate
2.60% 7.91%
Communication services
1.45% 2.96%
Utilities
0.00% 2.50%

Based on ending weights as of month-end. Source: FactSet. Percent total may not add to 100% due to rounding.

Geographic allocation

Geographic allocation

(as of 6/30/2024)
Type
Fund
Benchmark
United States
59.21% 60.82%
Japan
9.69% 12.20%
United Kingdom
8.17% 5.36%
Germany
4.37% 1.42%
Australia
3.65% 3.33%
Italy
2.88% 1.19%
France
2.67% 1.25%
Canada
2.17% 3.81%
Spain
1.93% 0.63%
Sweden
1.85% 2.05%

Based on ending weights as of month-end. Source: FactSet. Percent total may not add to 100% due to rounding.

Currency allocation

Currency allocation

(as of 6/30/2024)
Currency
Share Class
Benchmark
Australian Dollar
3.51% 3.33%
British Pound Sterling
7.14% 5.39%
Canadian Dollar
2.08% 3.81%
Euro (EUR)
12.51% 6.43%
Japanese Yen
9.31% 12.20%
Norwegian Krone
1.04% 0.94%
Swedish Krone
1.78% 2.05%
Swiss Franc
1.02% 1.53%
United States Dollar
61.62% 61.06%

Currency allocation is subject to change and may have changed since the date specified. Percent total may not add to 100% due to rounding.

ESG data summary

MSCI Overall ESG Score 1
Portfolio
6.3
Index
6.0
Sustainalytics ESG Risk Score 2
Portfolio
21
Index
23
SFDR Rating
 
8

Product involvement 3

Portfolio Benchmark
Controversial Weapons exposure 0.00% 0.25%
Oil Sands exposure 0.00% 0.04%
Small Arms exposure 0.00% 0.07%
Thermal Coal exposure 0.00% 0.55%
Tobacco exposure 0.00% 0.42%
UN Global Compact non-compliant exposure 0.00% 0.08%

¹ Data is sourced from MSCI ESG Research where companies are rated on a scale of 0 – 10 (0 - worst, 10 - best). Weighted average scores exclude effects of unrated securities.

² ESG Risk Ratings measure exposure to and management of ESG risks. Lower risk scores reflect less ESG risk. Sustainalytics ESG Risk Scores measure ESG risks on a scale of 0 – 100 (0 - no ESG Risk, >40 - Severe ESG Risk).

³ Carbon emissions includes operational and first-tier supply chain greenhouse gas emissions. Data sourced from S&P Trucost Limited.

⁴ Source: Allspring Global Investments. This report contains information developed by Sustainalytics. Such information and data are proprietary of Sustainalytics and/or its third-party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers. Copyright © 2023 Sustainalytics. All rights reserved.

Documents

Literature Date Language
Fund Profile 12/31/2023 English Download
Monthly Commentary 6/30/2024 English Download
Regulatory Document Date Language
KIID 5/21/2024 English Download
Lux Fund Sustainability-Related Disclosures 4/16/2024 English Download
PRIIPs KIDs 5/21/2024 English Download
PRIIPs KIDs 5/21/2024 Danish Download
PRIIPs KIDs 5/21/2024 Dutch Download
PRIIPs KIDs 5/21/2024 Finnish Download
PRIIPs KIDs 5/21/2024 French Download
PRIIPs KIDs 5/21/2024 German Download
PRIIPs KIDs 5/21/2024 Italian Download
PRIIPs KIDs 5/21/2024 Portuguese Download
PRIIPs KIDs 5/21/2024 Spanish Download
PRIIPs KIDs 5/21/2024 Swedish Download
PRIIPs KIDs 5/21/2024 French Download
PRIIPs KIDs 5/21/2024 Norwegian Download
Our team
Meet the investment team

The team follows a fundamental approach of identifying companies with competitive advantages, sustainable free cash flow, and flexible balance sheets, helping deliver long-term capital appreciation.

Key risks

Global investment risk: Securities of certain jurisdictions may experience more rapid and extreme changes in value and may be affected by uncertainties such as international political developments, currency fluctuations and other developments in the laws and regulations of countries in which an investment may be made.

Smaller-company securities risk: Securities of companies with smaller market capitalisations tend to be more volatile and less liquid than securities of larger companies.

ESG risk: Applying an ESG screen for security selection may result in lost opportunity in a security or industry resulting in possible underperformance relative to peers. ESG screens are dependent on third-party data and errors in the data may result in the incorrect inclusion or exclusion of a security.

Currency risk: Currency exchange rates may fluctuate significantly over short periods of time and can be affected unpredictably by intervention (or the failure to intervene) by relevant governments or central banks, or by currency controls or political developments.

Emerging markets risk: Emerging markets may be more sensitive than more mature markets to a variety of economic factors and may be less liquid than markets in the developed world.

Geographic concentration risk: Investments concentrated in specific geographic regions and markets may be subject to greater volatility due to economic downturns and other factors affecting the specific geographic regions.

Equity securities risk: These securities fluctuate in value and price in response to factors impacting the issuer of the security as well as general market, economic and political conditions.

Leverage risk: The use of certain types of financial derivative instruments may create leverage which may increase share price volatility.

Contact Us

We look forward to helping you with your investment needs

 

Investors should note that, relative to the expectations of the Autorité des Marchés Financiers, this fund presents disproportionate communication on the consideration of non-financial criteria in its investment policy.
 

The ongoing charges/total expense ratio (TER) reflects annual total operating expenses for the class, excludes transaction costs and is expressed as a percentage of net asset value. The figure shown is from current KID. The investment manager has committed to reimburse the Sub-Fund when the ongoing charges exceed the agreed upon TER. Ongoing charges may vary over time.
 

Any benchmark referenced is for comparative purposes only, unless specifically referenced otherwise in this material and/or in the prospectus, under the Sub-Funds’ Investment Objective and Policy.
 

†Promotes environmental and social characteristics but does not have a sustainable investment objective
 

†While the Sub-Funds listed above have access to both internal and external ESG research and integrate financially material sustainability risks into their investment decision-making processes, ESG-related factors are considered but not determinative, permitting the relevant Sub-Investment Managers to invest in issuers that do not embrace ESG; as such, sustainability risks may have a more material impact on the value of the Sub-Fund’s investments in the medium to long term. The investments underlying these Sub-Funds do not take into account the EU criteria for environmentally sustainable economic activities.
 

The Morningstar Rating™ for funds, or star rating, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar risk-adjusted return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% 3-year rating for 36–59 months of total returns, 60% 5-year rating/40% 3-year rating for 60–119 months of total returns, and 50% 10-year rating/30% 5-year rating/20% 3-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent 3-year period actually has the greatest impact because it is included in all three rating periods. Past performance is no guarantee of future results.

© 2024 Morningstar. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.