Fund Ticker: GFIGX
Inception Date: January 27, 2012
Peer Group: Morningstar Category—Foreign Large Growth
Long-term capital appreciation
We take a process-driven, rules-based approach to investing. While we believe prices reflect the market’s expectations of risk, we think information in prices and fundamentals can help identify securities with higher expected returns. The Gerstein Fisher Multi-Factor® International Growth Equity strategy leverages a quantitative investment model that provides diversified exposure to international growth-oriented companies. This strategy is designed to add value over benchmarks by taking greater-than market index weight in those securities that have smaller market capitalizations, are value oriented, and have positive price momentum.
Increased exposure to stocks with the following characteristics:
*Since inception returns from January 27, 2012. Performance data quoted represent past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 800-473-1155. Total Annual Fund Operating Expense Ratio 1.11%* The Fund imposes a 1.00% redemption fee on shares redeemed within 60 days of purchase. Performance data do not reflect the redemption fee. If they had, returns would be reduced.
The Growth of $10,000 chart illustrates the performance of a hypothetical $10,000 investment made in the Fund on commencement of operations (January 27, 2012). It assumes reinvestment of capital gains and dividends. This chart is not intended to imply any future performance.
We balance the trade-offs between concentration and diversification to create investment solutions that target high expected return securities while minimizing trading costs. Our portfolio construction process minimizes unintended exposures and monitors contributions of stock-specific volatility. We believe our objective, research-based approach produces superior, repeatable, and consistent results for clients and offers a compelling alternative to pure indexing and traditional qualitative investment approaches.
Fund holdings are subject to change and are not recommendations to buy or sell any security. Current and future holdings are subject to risk.
"Other" countries include: Finland (0.9%), Ireland (0.9%), Israel (1.6%), Singapore (1.3%), (Austria, New Zealand, Norway, Portugal, Spain <0.5%).
IMPORTANT DISCLOSURES Weighted Avg. Market Cap ($MM): Average firm market capitalization weighted by security weight. MSCI EAFE Index: The MSCI EAFE Index is recognized as the preeminent benchmark in the United States to measure international equity performance. It comprises the MSCI country indices that represent developed markets outside of North America: Europe, Australasia, and the Far East. The MSCI Growth EAFE Index includes those MSCI EAFE Index companies with higher price-to-book ratios and higher forecasted earnings growth rates. You cannot invest directly in an index. Price/Book: A valuation ratio of a company’s current share price compared to its book value. Price/Earnings (trailing 12 months): A valuation ratio of a company’s current share price compared to its past 12-month earnings. Return on Equity: Net income divided by book equity. Price Momentum: Total return over the prior 12 months.
*The Advisor has contractually agreed to waive a portion of its management fees and/or reimburse expenses through March 30, 2020. The Actual Operating Expense Ration is higher than the Total Operating Expense Ratio based on reimbursement to Advisor for previously waived fees.
©2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) 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. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating (based on a Morningstar risk-adjusted return measure that accounts for variation in a fund’s monthly performance, including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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 Gerstein Fisher Multi-Factor® International Growth Equity Fund (GFIGX) received an overall rating of 2 stars in the Foreign Large Growth funds category. The rating is based on a weighted average of 2 stars for the 3-year period and 2 stars for the 5-year period (396 funds for 3-year and 340 funds for 5-year) as of September 30, 2019.
This strategy and mutual fund investing involve risk. Principal loss is possible. Investments in foreign securities involve greater volatility and political, economic, and currency risks as well, as differences in accounting methods. These risks are greater in emerging markets. Small-, medium-, and microcapitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Growth stocks typically are relatively more expensive than value stocks; however, value stocks have a lower expected growth rate in earnings and sales. Options on securities may be subject to greater fluctuation in value than an investment in the underlying securities. The investment in options is not suitable for all investors. The risks of investments in derivatives include imperfect correlation between the value of these instruments and the underlying assets; risks of default by the other party to the derivative transactions; risks that the transactions may result in losses that partially or completely offset gains in portfolio positions; and risks that the derivative transactions may not be liquid. Unlike mutual funds, ETFs do not necessarily trade at the net asset values of their underlying securities, which means an ETF could potentially trade above or below the value of the underlying portfolios. Additionally, because ETFs trade like stocks on exchanges, they are subject to trading and commission costs, unlike open-end investment companies. Diversification does not assure a profit or protect against loss in a declining market. The Gerstein Fisher Multi-Factor® International Growth Equity Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and other important information about the investment company and may be obtained by calling 800-473-1155. Read the prospectus carefully before investing. The Gerstein Fisher Multi-Factor® International Growth Equity Fund is distributed by Quasar Distributors, LLC.
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