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Schroder International Diversified Value Fund – Advisor Shares
Investment Objective
Schroder International Diversified Value Fund seeks long-term capital appreciation.
Principal Investment Strategies
The Fund invests principally in a diversified portfolio of equity securities of companies located outside of the United States that the Fund’s sub-adviser considers to offer attractive valuation. The Fund may invest in common and preferred stocks, securities convertible into common and preferred stocks, warrants to purchase common and preferred stocks, and real estate investment trusts (“REITs”).
The Fund’s sub-adviser applies a proprietary quantitative investment analysis that seeks to develop a portfolio designed to capture the historically high returns from value stocks but with lower risk than the Morgan Stanley Capital International EAFE Index over the longer term and to provide a dividend yield typically above that Index.. The sub-adviser expects that a substantial portion of the Fund’s investments will normally be in countries included in the Morgan Stanley Capital International EAFE Index, which is a market-weighted index of companies representative of the market structure of certain developed market countries in Europe, Australia, Asia, and the Far East, although the Fund may invest in any country in the world, including “emerging markets” countries. (The sub-adviser currently expects to invest not more than 25% of the Fund’s assets in securities of companies domiciled in emerging markets countries.) The main elements of the sub-adviser’s portfolio construction process are the identification of attractive value stocks within a broad universe of companies around the world and careful management of portfolio risks. The portfolio construction process is bottom-up. The sub-adviser seeks to select stocks anywhere in the world with high dividends and strong cash-flow. The sub-adviser does not generally specify “top-down” geographic or sector allocations for the Fund’s portfolio; rather, the Fund’s geographic and sector allocations are principally the result of the sub-adviser’s selection of individual companies that it believes offer the greatest value. (The sub-adviser may adjust geographic or sector weights resulting from this process in order to avoid extreme outcomes.)
The sub-adviser does not consider benchmark weights when it constructs the Fund’s portfolio. Individual stock weights are determined using a disciplined stock weighting process. The Fund’s sub-adviser believes that indices weighted by market capitalization reflect a natural bias towards expensive stocks and geographic regions, and that, by contrast, a “bottom-up” approach to portfolio construction, not constrained by reference to a specific benchmark or index, has the potential to provide investment in less expensive stocks offering better investment value.
The Fund will normally invest at least 65% of its net assets in equity securities of companies located in countries outside of the United States. The Fund will invest in a variety of countries throughout the world. The Fund may, from time to time, invest more than 25% of its assets in any one country or group of countries. The Fund's sub-adviser will consider an issuer to be located in a country if it is organized under the laws of and its equity securities are principally traded in that country, or it is domiciled or has its principal place of business located in and its equity securities are principally traded in that country, or if the Fund's sub-adviser determines that the issuer has more than 50% of its assets in or derives more than 50% of its revenues from that country. The Fund may invest in companies of any market capitalization, including large, well known companies, as well as smaller, less closely followed companies, including micro-cap companies.
The Fund may, but is not required to, enter into foreign currency exchange transactions, for hedging purposes or to adjust the exposure of the Fund to changes in the values of various foreign currencies.
The Fund generally sells securities when the Fund’s sub-adviser believes they are fully priced or when the sub-adviser considers more attractive investment candidates are available.
The Fund may purchase or sell futures contracts and options and enter into total return swaps, in order to gain exposure to particular securities or markets in connection with hedging transactions or otherwise to increase total return. The Fund may from time to time enter into other transactions involving derivatives, including over-the-counter transactions, if the sub-adviser considers it appropriate. The Fund may also invest in closed-end investment companies, trusts, master limited partnerships, and exchange-traded mutual funds (“ETFs”) (open-end investment companies whose shares may be bought or sold by investors in transactions on major stock exchanges).
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Management
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Justin Abercrombie
Schroder International Diversified Value Fund - Since Inception (August, 2006)
Mr. Abercrombie is the Lead Portfolio Manager and Head of QEP, SIMNA Ltd. He has been an employee of Schroders since 1996. Formerly, founding member of QEP, SIMNA Ltd.
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| Fund Facts |
| As of Jul 2, 2009 |
| Ticker Symbol | |
SIDVX |
| CUSIP | |
808090690 |
| Inception Date | |
Aug 30, 2006 |
| Fund Assets1 | |
$8.49 million |
| Minimum Investment | |
$2,500 |
| Min. Subsequent Inv | |
$1,000 |
| Load | |
NONE |
| Expense Ratio2,3 | |
1.40% |
| Distribution Fee | |
25 BPS |
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| Daily Performance |
| As of Jul 2, 2009 |
| Share Price/NAV |
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$6.53 |
| Change |
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-$0.17 |
Monthly Performance Quarterly Performance
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1 Represents all share classes.
2 The “Net Expenses” shown for Schroder International Diversified Value Fund reflect the effect of contractually imposed fee waiver and/or expense limitation, in effect until February 28, 2010 on the Total Annual Fund Operating Expenses of the Fund. Please see the prospectus for further details.
3 As of the most recent Annual/Semi-Annual report.
Schroder International Diversified Value Fund also offers Investor Shares. The following link, Investor Shares, provides a description of the Investor Shares, including related expense information.
Performance data quoted represents past performance. Past performance is no guarantee of future results. 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 may be lower or higher than the performance data quoted.
For performance data current to the most recent month end and to access Fund prospectuses, which contain this and other information, click the following link for prospectuses. To obtain further information, please call Schroder Mutual Funds at 800-464-3108 for Individual Investors or 800-730-2932 for Intermediaries/Financial Consultants. Read the prospectus for a Fund and carefully consider the Fund's investment objectives, risks and charges and expenses before investing.
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