Under normal conditions, the Fund invests at least 80% of its assets in securities of non-U.S. companies located throughout the world, including emerging markets. The Fund emphasizes securities of issuers in Europe, Australasia and the Far East (“EAFE”), but may invest in issuers in any country.
The portfolio manager employs a disciplined team-based investment process that combines a top-down industry sector analysis and bottom-up stock selection. The Fund invests primarily in common stocks, but may invest to a lesser degree in convertible securities, preferred stocks and other equity securities.
The portfolio manager's investment process is based on a global sector view. Top-down analysis evaluates key global sectors with an emphasis on macroeconomics and growth prospects for different industries. Allocation among countries or geographic areas is a residual of the investment process. Under normal circumstances, the Fund will invest in at least five countries outside of the United States.
Within the targeted sectors, individual stocks are selected based on bottom-up fundamental analysis. The portfolio manager seeks to identify companies with one or more of the following characteristics:
- strong competitive position
- market leader in industry with strong growth prospects
- potential for future growth
The market capitalization of companies held by the Fund will be a residual of the investment process. Although the Fund may invest in companies across all market capitalizations, the portfolio manager's criteria favors mid- to large-cap stocks. The portfolio manager does not expect the Fund’s annual portfolio turnover
rate to exceed 100%.
Note:
Risks of investing in international markets include but are not limited to social and political instability, market illiquidity and currency volatility.
| Fund Overview |
| Inception Date |
8/6/2007 |
| Ticker |
ANIIX |
| Cusip |
00080Y850 |
| Load |
None |
| Fund Statistics (as of
3/31/2008) |
|
|
$10,783,359.00 |
| Expense Ratio |
1.02% |
| Minimum Investment |
$1,000,000 |
|
|
| Sector Breakdown (as of
3/31/2008) |
For the Aston/Neptune International Fund: Sector Breakdown percentages are based on the portfolio as of 1/31/08. Please click here for Neptune's Sector Breakdown.
Past performance does not guarantee future results. Investment return and principal value of mutual funds will vary with market conditions, so that shares, when redeemed, may be worth more or less than their original cost.
Expense Ratio. A fund's cost of doing business, expressed as a percentage of its assets and disclosed in a prospectus.
Turnover. The number of shares traded for a period as a percentage of the total shares in a portfolio or of an exchange.
Alpha. Measures the difference between a fund’s actual returns and its expected performance, given its level of risk.
Beta. The measure of risk which shows a fund’s volatility relative to an index.
R-Squared. The percentage of a fund’s movement that can be explained by movements in its benchmark index.
Standard Deviation. A statistical measure of the historical volatility of a mutual fund or portfolio, usually computed using 36 monthly returns. More generally, a measure of the extent to which numbers are spread around their average.
Sharpe Ratio. A risk-adjusted measure used to determine reward per unit of risk.