Overview

Historical Returns (%)

Past performance is no guarantee of future results.

 as of Sep 30, 2023

11/30/202309/30/2023
 

Fund Facts as of Nov 30, 2023

Class I Acc GBP (U) Inception 05/08/2012
Investment Objective Long-term capital appreciation
Total Net Assets $152.5M
Minimum Investment $5000000

Fund Codes

CUSIP G2919V324
ISIN IE00B6VC5C33
SEDOL B6VC5C3
Valor Number 18059182
Wertpapierkennnummer A1JUDP
 

Top 10 Holdings (%)2,3 as of Oct 31, 2023

Taiwan Semiconductor Manufac 0.99
Tencent Holdings Ltd 0.96
Samsung Electronics Co Ltd 0.92
Delta Electronics Thai-Forgn 0.70
America Movil Sab De C-Ser B 0.70
Tupras-Turkiye Petrol Rafine 0.56
China Petroleum & Chemical-H 0.55
Naspers Ltd-N Shs 0.52
Southern Copper Corp 0.51
Pnote Hsbc: Saudi Arabian Oil Co 0.48
Total 6.89
 

Portfolio Management

Thomas C. Seto Managed Fund since 2008
Paul Bouchey, CFA Managed Fund since 2019
Jennifer Sireklove, CFA Managed Fund since 2019

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

The use of leverage increases risks, such that a relatively small movement in the value of an investment may result in a disproportionately large movement, unfavorable as well as favorable, in the value of that investment and, in turn, the value of the Fund.

The Fund is actively managed in reference to the Index (MSCI Emerging Markets Index). The Fund does not intend to track the Index. The Investment Adviser has discretion in its choices of investments and is not constrained in its selection 5 of its investments by the Index save that the Investment Adviser may place parameters on country and country-sector weights relative the Index. These parameters may change from time to time. The Investment Adviser may also set expected volatility and tracking error parameters relative to the Index which may be subject to change. The Fund may invest in instruments which are not included in the Index, although it is generally expected that a significant portion of its investments will be constituents of the Index at any given time.
The investment objective of the Fund is to seek long-term capital appreciation. The Fund is actively managed and seeks to achieve its objective by investing in a diversified portfolio of common stocks of companies which are domiciled in or which derive more than 50% of their revenues or profits from emerging market countries. The Fund may also invest in other transferable securities listed, traded or dealt on Recognised Markets in accordance with the restrictions listed under "Investment Objectives and Policies" in the Prospectus. The Fund will invest at least two-thirds of its total assets in equity securities of companies which are domiciled in or which derive more than 50% of their revenues or profits from emerging market countries. Equity securities, for the purposes of this two-thirds policy, will be limited to common and preferred stocks; equity interests in trusts, partnerships, joint ventures and other unincorporated entities or enterprises; special classes of shares available only to foreign investors in markets that restrict ownership by foreign investors to certain classes of equity securities (e.g. India, Kuwait, Thailand); and participation notes.

RISK CONSIDERATIONS 

The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


1. MSCI Emerging Markets Index is an unmanaged index of emerging markets common stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
2. Top 10 Holdings excludes cash and equivalents.
3. Percent of total net assets.

Performance

Historical Returns (%)

Past performance is no guarantee of future results.

 as of Sep 30, 2023

11/30/202309/30/2023
 

Calendar Year Returns (%)

Past performance is no guarantee of future results.

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Fund at NAV -0.28 1.78 -12.60 33.68 16.22 -9.08 7.15 0.97 5.79 -0.26
MSCI Emerging Markets Index (GBP)1 -4.41 3.90 -9.99 32.63 25.40 -9.26 13.85 14.65 -1.64 -10.02
 

Fund Facts

Class I Acc GBP (U) Inception 05/08/2012
 

NAV History

Date NAV NAV Change
Dec 08, 2023 $15.71 $0.06
Dec 07, 2023 $15.65 -$0.05
Dec 06, 2023 $15.70 $0.04
Dec 05, 2023 $15.66 $0.00
Dec 04, 2023 $15.66 $0.03
Dec 01, 2023 $15.63 -$0.04
Nov 30, 2023 $15.67 $0.08
Nov 29, 2023 $15.59 -$0.07
Nov 28, 2023 $15.66 $0.00
Nov 27, 2023 $15.66 -$0.02
 

Distribution History4

Ex-Date Distribution Reinvest NAV
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

The use of leverage increases risks, such that a relatively small movement in the value of an investment may result in a disproportionately large movement, unfavorable as well as favorable, in the value of that investment and, in turn, the value of the Fund.

The Fund is actively managed in reference to the Index (MSCI Emerging Markets Index). The Fund does not intend to track the Index. The Investment Adviser has discretion in its choices of investments and is not constrained in its selection 5 of its investments by the Index save that the Investment Adviser may place parameters on country and country-sector weights relative the Index. These parameters may change from time to time. The Investment Adviser may also set expected volatility and tracking error parameters relative to the Index which may be subject to change. The Fund may invest in instruments which are not included in the Index, although it is generally expected that a significant portion of its investments will be constituents of the Index at any given time.
The investment objective of the Fund is to seek long-term capital appreciation. The Fund is actively managed and seeks to achieve its objective by investing in a diversified portfolio of common stocks of companies which are domiciled in or which derive more than 50% of their revenues or profits from emerging market countries. The Fund may also invest in other transferable securities listed, traded or dealt on Recognised Markets in accordance with the restrictions listed under "Investment Objectives and Policies" in the Prospectus. The Fund will invest at least two-thirds of its total assets in equity securities of companies which are domiciled in or which derive more than 50% of their revenues or profits from emerging market countries. Equity securities, for the purposes of this two-thirds policy, will be limited to common and preferred stocks; equity interests in trusts, partnerships, joint ventures and other unincorporated entities or enterprises; special classes of shares available only to foreign investors in markets that restrict ownership by foreign investors to certain classes of equity securities (e.g. India, Kuwait, Thailand); and participation notes.

RISK CONSIDERATIONS 

The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


1. MSCI Emerging Markets Index is an unmanaged index of emerging markets common stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
4. A portion of the Fund's returns may be comprised of return of capital or short term capital gains. The Fund will determine the tax characteristics of all Fund distributions after the end of the calendar year and will provide shareholders such information at that time. Please consult your tax advisor for further information.

Portfolio

Asset Mix (%)3 as of Oct 31, 2023

Portfolio Statistics as of Oct 31, 2023

Median Market Cap 3.50
Price/Earnings Ratio 13.55
Number of Holdings 1083
Price/Book Ratio 1.30
Countries Represented 48
 

GICS Sector Breakdown (%)3 as of Oct 31, 2023

Assets by Country (%)3 as of Oct 31, 2023

China 16.51
India 7.10
Taiwan 7.61
Korea 4.41
Brazil 4.85
Mexico 4.82
South Africa 4.87
Turkey 4.29
Thailand 4.88
Saudi Arabia 4.71
View All
 

Geographic Mix (%)3 as of Oct 31, 2023

Asia/Pacific 51.95
Latin America 14.93
Eastern Europe 11.17
Middle East 11.68
Africa 8.38
Europe except U.K. 1.89
 

Fund Holdings (%)3,6 as of Oct 31, 2023

Holding % of Net Assets
Taiwan Semiconductor Manufacturing Co Ltd 0.98%
Tencent Holdings Ltd 0.94%
Samsung Electronics Co Ltd 0.92%
America Movil SAB de CV 0.69%
Delta Electronics Thailand PCL 0.68%
Turkiye Petrol Rafinerileri AS 0.56%
China Petroleum & Chemical Corp 0.54%
Naspers Ltd 0.52%
Southern Copper Corp 0.50%
HSBC Bank PLC 0.48%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

RISK CONSIDERATIONS 

The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


3. Percent of total net assets.
5. MSCI Emerging Markets Index is an unmanaged index of emerging markets common stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
6. The following list reflects unaudited securities holdings (excluding derivatives positions). Holdings information may differ if presented as of trade date. Due to rounding, holdings of less than 0.005% may show as 0.00%. Portfolio information subject to change due to active management.

Management

Thomas C. Seto

Thomas C. Seto

Managing Director
Joined Parametric Portfolio Associates 1998

Biography

Tom is a managing director and head of investment management at Parametric Portfolio Associates LLC. He leads Parametric's portfolio management and trading functions for the firm's equity strategies. He is also a vice president and portfolio manager for Calvert Research and Management. He joined Parametric in 1998.

Tom began his career in the investment management industry in 1991. Before joining Parametric, he served as the head of U.S. equity index investments at Barclays Global Investors.

Tom earned a B.S. in electrical engineering from the University of Washington and an MBA from the University of Chicago Booth School of Business.

Education
  • B.S. University of Washington
  • M.B.A Booth School of Business, University of Chicago

Experience
  • Managed Fund since 2008

 
Paul Bouchey, CFA

Paul Bouchey, CFA

Global Head of Research
Joined Parametric Portfolio Associates 2006

Biography

Paul Bouchey is chief investment officer of Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. Paul Bouchey leads Parametric's Investment, Research and Strategy activities. He is responsible for setting the overall research agenda and new product development. He joined Parametric in 2006.

Paul began his career in the investment management industry in 1994. Before joining Parametric, Paul was a senior researcher at Russell Investment Group, where he focused on simulation, optimization and quantitative decision models for institutional and private clients.

Paul earned a B.A. in mathematics and physics from Whitman College and an M.S. in computational finance and risk management from the University of Washington. He holds a patent on cross-sectional volatility indexing and has authored more than 10 academic and practitioner articles in journals such as The Journal of Portfolio Management, The Journal of Wealth Management and The Journal of Index Investing. He is a CFA charterholder.

Education
  • B.A. Whitman College
  • M.S. University of Washington

Experience
  • Managed Fund since 2019

 
Jennifer Sireklove, CFA

Jennifer Sireklove, CFA

Managing Director, Investment Strategy
Joined Parametric Portfolio Associates 2013

Biography

Jennifer Sireklove is managing director, investment strategy for Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. She leads the investment strategy team, which is responsible for all aspects of Parametric's equity-based investment strategies. In addition, she has direct investment responsibility for Parametric's emerging-market and international strategies, and chairs Parametric's Stewardship Committee. She joined Parametric in 2013.

Jennifer began her career in the investment management industry in 2003. Previously at Parametric, she helped build the firm's active ownership and custom ESG portfolio construction practices. Before joining Parametric, she worked in equity research, primarily covering the energy, utility and industrial sectors at firms including D.A. Davidson and McAdams Wright Ragen.

Jennifer earned a B.A. in economics from Reed College and an MBA in finance and accounting from the University of Chicago. She is a CFA charterholder and a member of the CFA Society Seattle.

Education
  • B.A. Reed College
  • MBA University of Chicago

Experience
  • Managed Fund since 2019

 

Literature

Literature

Annual Report (English)

Download Annual Report (English) - Last updated: Dec 31, 2022

Annual Report (Spanish)

Download Annual Report (Spanish) - Last updated: Dec 31, 2022

Eaton Vance International (Ireland) Funds Full Prospectus (German)

Download Eaton Vance International (Ireland) Funds Full Prospectus (German) - Last updated: Dec 13, 2021

Eaton Vance International (Ireland) Funds Full Prospectus (English)

Download Eaton Vance International (Ireland) Funds Full Prospectus (English) - Last updated: Dec 13, 2021

Full Prospectus

Download Full Prospectus - Last updated: Jul 6, 2020

Memorandum and Articles of Association

Download Memorandum and Articles of Association - Last updated: Oct 2, 2012

Prospectus Supplement (English)

Download Prospectus Supplement (English) - Last updated: Dec 13, 2021

Semiannual Report (Spanish)

Download Semiannual Report (Spanish) - Last updated: Jun 30, 2023

Semiannual Report (English)

Download Semiannual Report (English) - Last updated: Jun 30, 2023