Rondure New World Fund
( RNWOX/RNWIX )
Overview
The New World Strategy is an unconstrained, index agnostic, total return portfolio designed to identify high quality, core businesses in the world's least developed economies or markets.
Investment Objective
The Rondure New World Fund's investment objective is long-term growth of capital.
Investment Strategy
The Fund will, under normal market conditions, invest at least 40% of its assets, calculated at the time of purchase, in equity securities of (i) issuers either organized or having headquarters in countries outside the United States, or (ii) issuers having a majority of their assets or revenues attributable to countries outside the United States. Collectively, such issuers will typically be organized, headquartered or economically linked to not less than three different countries other than the United States. Though the Fund may, subject to the requirements described above, invest in issuers located throughout the world, the Adviser expects that such issuers will typically have exposure to emerging or frontier markets, which the Adviser collectively regards as those countries excluded from the MSCI World Index of developed countries. There is no minimum or maximum with respect to the cap ranges that the Fund may invest in, however it will primarily invest in companies with market capitalizations above $1.5 billion at the time of purchase. Equity securities include common stock, preferred stocks, warrants and rights, and other securities with equity characteristics (e.g. participatory notes and exchange traded funds “ETFs” linked to underlying equity securities).
Unique Characteristics
- Emerging and Frontier Markets
- Long-only Equities
- Core Strategy
- All Market Cap
- Index Agnostic
Fund Manager
Research Team
The Rondure Research Team works in partnership with the Grandeur Peak Research Team, a key benefit to the Rondure investment process. We believe our primary role is Analyst, creating a flat organization of intelligent people asking the right questions. The collaboration provides a solid foundation to foster excellence and passion from each individual team member as we contribute to the success of the Fund.
Performance
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Performance data quoted represents past performance. Past performance is no guarantee of future results and investment returns and principal value of the Fund will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted. For the most current month-end performance data please visit .
The Advisor has contractually agreed to waive and/or reimburse fees or expenses through at least August 31, 2024.
Rondure Funds will deduct a 2.00% redemption fee on Fund shares held 60 days or less. Performance data does not reflect the deduction of fees, including sales charges, or the taxes you would pay on fund distributions or the redemption of fund shares. Fees and taxes, if reflected, would reduce the performance quoted. For more complete information including charges, risks and expenses, read the prospectus carefully.
Diversification does not eliminate the risk of experiencing investment loss.
() - Inception date of
Expense ratios as of prospectus dated are: : Gross / Net, : Gross / Net
Calendar Year Inception vs. Benchmark
Hypothetical Growth of $10,000
The chart shown above represents a hypothetical investment of $10,000 in the Fund’s Investor Class shares for the period from inception to . All returns reflect reinvested dividends, but do not reflect the deduction of taxes that an investor would pay on distributions or redemptions. Investing in the Fund is subject to investment risks, including possible loss of the principal amount invested. The Fund also offers Institutional Class shares, performance for which is not reflected in the graphs above. The performance of Institutional Class shares may be higher or lower than the performance of the Investor Class shares shown in the graphs above based upon differences in fees paid by shareholders investing in the Investor Class shares and Institutional Class shares.
Portfolio Detail
Holdings subject to change.
1 Weighted Average Return on Assets (ROA) of the portfolio’s holdings, calculated by dividing a company’s annual returns by its total assets.
2 Return on Equity is a metric that measures net income in relation to shareholder equity.
3 Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) measures operating performance. Debt ratio measures how many years it would take for a company to pay back its debt if net debt and EBITDA are held constant.
4 Price-to-Equity (P/E) is the ratio of the current price divided by the earnings over the past 12 months.
5 Enterprise Value (EV) is a measure of the economic value of a company. The ratio of EV to EBIT is used to compare companies within an industry and normalize differences in a company’s capital structure.
6Beta is a measure of the volatility of a security or portfolio compared to the market as a whole (usually the S&P 500). Stocks with betas higher than 1.0 can be interpreted as more volatile than the S&P 500.
7 The average market capitalization of companies held by the fund, weighted in proportion to their percentage of net assets in the fund.
8 The median market capitalization is the midpoint of capitalization of companies held by the fund.