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Schroder Emerging Market Equity Fund - Advisor Shares
Investment Objective
Schroder Emerging Market Equity Fund seeks capital appreciation through investment principally in equity securities of companies in emerging market countries in regions such as Asia, Latin America, Eastern Europe, the Middle East, and Africa.
Principal Investment Strategies
The Fund normally invests at least 80% of its net assets in equity securities of companies the Fund’s sub-advisor considers to be ‘‘emerging market’’ issuers. The Fund may invest the remainder of its assets in securities of issuers located anywhere in the world. The Fund may invest in common and preferred stocks, securities convertible into common and preferred stocks, and warrants to purchase common and preferred stocks. The Fund may also invest in sponsored or unsponsored American Depositary Receipts ("ADRs"), Global Depository Receipts ("GDRs"), European Depository Receipts ("EDRs"), or other similar securities representing ownership of foreign securities (collectively, ‘‘Depositary Receipts’’). The Fund may also invest in securities of closed-end investment companies and exchange-traded funds (‘‘ETFs’’), including securities of emerging market issuers. An investment in a domestic closed-end fund or ETF that has a policy that it will normally invest at least 80% of its net assets in equity securities of emerging market issuers, and has ‘‘emerging market’’ or the equivalent in its name, or foreign funds with similar investment policies, will be treated as an investment in equity securities of emerging market issuers for purposes of determining if the Fund has invested at least 80% of its net assets in such securities.
The Fund invests principally in equity securities of issuers domiciled or doing business in ‘‘emerging market’’ countries in regions such as Asia, Latin America, Eastern Europe, the Middle East, and Africa. The Fund’s sub-advisor currently considers ‘‘emerging market’’ issuers to be issuers domiciled in or deriving a substantial portion of their revenues from countries not included at the time of investment in the Morgan Stanley International World Index of major world economies. Countries currently in this Index include: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong SAR, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. The Fund’s sub-advisor may at times determine based on its own analysis that an economy included in the Index should nonetheless be considered an emerging market country, in which case that country would constitute an emerging market country for purposes of the Fund’s investments. The Fund’s sub-advisor has determined that Chinese companies listed in Hong Kong will be considered emerging market issuers for this purpose. There is no limit on the amount of the Fund’s assets that may be invested in securities of issuers domiciled in any one emerging market country, although the Fund will typically seek to allocate its investments among a number of different emerging market countries.
The Fund’s advisor will consider an issuer located in the United States if it is organized under the laws of the United States or any state of the United States and is principally traded in the United States, or is domiciled or has its principal place of business located in the United States and is principally traded in the United States, or if the Fund’s advisor determines that the issuer has more than 50% of its assets in or derives more than 50% of its revenues from the United States.
The Fund may purchase or sell structured notes, or enter into swap transactions, for hedging or as an alternative to purchasing or selling securities. The Fund’s sub-advisor may hedge some of the Fund’s foreign currency exposure back into the U.S. dollar, although it does not normally expect to do so. The Fund may also purchase or sell futures on indices, including country specific or overall emerging market indices. The Fund may use derivatives to gain exposure to securities or market sectors as a substitute for cash investments (not for leverage) or pending the sale of securities by the Fund and reinvestment of the proceeds.
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Management
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Allan Conway
Schroder Emerging Market Equity Fund - Since Inception (March, 2006)
Mr. Conway is Head of Emerging Market Equities at SIMNA Ltd. He has been an employee of SIMNA Ltd. since 2004. Formerly, Head of Global Emerging Markets, West LB Asset Management and Chief Executive Officer of WestAM (UK). |
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Waj Hashmi, CFA
Schroder Emerging Market Equity Fund - Since Inception (March, 2006)
Mr. Hashmi is a Portfolio Manager of SIMNA Ltd. He has been an employee of SIMNA Ltd. since 2000. |
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Robert Davy
Schroder Emerging Market Equity Fund - Since Inception (March, 2006)
Mr. Davy is a Portfolio Manager of SIMNA Ltd. He has been an employee of SIMNA Ltd. since 1986. |
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James Gotto
Schroder Emerging Market Equity Fund — Since Inception (March, 2006)
Mr. Gotto is a Portfolio Manager of SIMNA Ltd. He has been an employee of SIMNA Ltd. since 1991. |
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| Fund Facts |
| As of Jul 2, 2009 |
| Ticker Symbol | |
SEMVX |
| CUSIP | |
808090740 |
| Inception Date | |
Mar 31, 2006 |
| Fund Assets1 | |
$27.61 million |
| Minimum Investment | |
$2,500 |
| Min. Subsequent Inv | |
$1,000 |
| Load | |
NONE |
| Expense Ratio2,3 | |
1.50% |
| Distribution Fee | |
0.25% |
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| Daily Performance |
| As of Jul 2, 2009 |
| Share Price/NAV |
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$9.35 |
| 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 the Fund reflects the effect of contractually imposed fee waivers and/or expense limitations, in effect through February 28, 2010. Please see the prospectus for further details.
3
As of the most recent Annual/Semi-Annual report. The net expense presented includes the effect of custody offsets.
Schroder Emerging Market Equity 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.
Performance data does not reflect a 2.00% redemption fee on shares redeemed two months or less from their date of purchase, which applies to the Schroder International Alpha Fund, and Schroder U.S. Opportunities Fund; if this redemption fee were reflected, one-month performance for these funds would be lower than that shown. 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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