Objective
Long-term capital appreciation
Strategy
Combines three managers with complementary growth and value oriented investment processes
| Fund Facts | |
|---|---|
| Asset Manager |
|
| Benchmark | MSCI ACWI Ex-USA |
| Blended Benchmark | – |
| Fund Inception Date | 2/1/1995 |
| Mimimum Investment | $5M/$5,000 |
| Expense Ratio | Class A: 1.41%; Class B: 0.84% |
Additional Facts
Fee waivers and reimbursements are contractual and in effect until 02/28/24.
Annual Average Total Returns
(%) as of
| Trailing | 3 Months | 1 Year | 3 Years | 5 Years | 10 Years |
|---|---|---|---|---|---|
| CRLSX (Inception Date: 2/1/1995) | 11.21 | -1.49 | 4.47 | 6.39 | |
| CRLVX (Inception Date: 2/1/1995) | 11.03 | -1.65 | 4.31 | 6.23 | |
| MSCI ACWI Ex-U.S.A. | 7.00 | -4.57 | 2.97 | 5.16 | |
| MSCI ACWI ex USA Small Cap Index | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Calendar Year | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|
| CUIT International Equity Fund Class A | 26.1 | -15.93 | 30.47 | 2.35 | -2.82 | -5.11 |
| CUIT International Equity Fund Class B | 26.75 | -15.53 | 31.04 | 2.75 | -2.45 | -4.72 |
| MSCI ACWI-ex U.S. ‡ | 22.13 | -13.78 | 27.77 | 5.01 | -3.81 | -4.49 |
- Returns are presented net of fees and include the reinvestment of income and past performance is not indicative of future results. Net of fees includes management fees, operating expenses, and fee reductions and/or expense reimbursements. See the fund prospectus for additional information.
- Since inception performance for each benchmark index is calculated based on the inception date of each corresponding Fund share class and reflects no deduction for fees, expenses or taxes.
- Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth less than their original cost and current performance may be higher or lower that the performance quoted. For performance current to the most recent month end, please call 1-866-348-6466.
- Indices are unmanaged and do not include the effect of fees. One cannot invest in an index.
- Performance data shown prior to 12/03/2021 is that of the funds of the Catholic United Investment Trust (the “Predecessor Funds”). The Predecessor Funds were managed by the Adviser using investment objectives, strategies, policies and restrictions that were in all material respects equivalent. The performance information for periods over one year has been adjusted to reflect Fund expenses which may result in higher or lower performance.
Characteristics as of 03/31/2023
| Statistics Data | Fund | Index |
|---|---|---|
| Weighted Median Market Cap | $48.4B | $44.5B |
| Price/Book | 2.5x | 1.9x |
| Price/Earnings | 19.2x | 15.4x |
| Return on Equity | 13.7% | 12.2% |
| Dividend Yield | 1.7% | 2.4% |
| 5-year Earnings Growth | 12.7% | 8.1% |
| Beta | 1.1 | 1 |
| 10 Largest Holdings | 16.8% | 3.4% |
| # of Equity Securities | 293 | 2,352 |
| Turnover Rate | 44.6 | N/A |
| Market Sector Analysis | Fund | Index |
|---|---|---|
| Communication Services | 2.5 | 6.3 |
| Consumer Discretionary | 15.3 | 12.7 |
| Consumer Staples | 7.5 | 8.5 |
| Energy | 3.5 | 4.9 |
| Financials | 16.4 | 19.3 |
| Healthcare | 8.3 | 9.5 |
| Industrials | 15.1 | 12.2 |
| Information Technology | 21.8 | 13.2 |
| Materials | 5.3 | 8.0 |
| Real Estate | 0.2 | 2.5 |
| Utilities | 2.3 | 3.0 |
| Cash | 1.8 | 0.0 |
| Geographic Distribution | Fund | Index |
|---|---|---|
| United Kingdom | 9.7 | 8.2 |
| France | 9.8 | 6.6 |
| Germany | 5.9 | 5.8 |
| Japan | 9.6 | 15.5 |
| USA* | 4.8 | 0.1 |
| Canada | 5.3 | 7.1 |
| Other Europe | 30.8 | 21.0 |
| Developed Asia | 3.2 | 8.0 |
| Emeg.Mkts Asia | 16.9 | 22.7 |
| Other Emeg.Mkts | 4.1 | 4.9 |
| Risk Metrics | Fund (5 YR) |
Index (5 YR) |
|---|---|---|
| Standard Deviation | 15.4 | 14.5 |
| Tracking Error | 2.7 | N/A |
| Sharpe Ratio | 0.8 | 0.6 |
| Information Ratio | 1.3 | N/A |
| Upside Capture | 111.6 | 100.0 |
| Downside Capture | 95.2 | 100.0 |
| Top Ten Holdings | % | |
|---|---|---|
| Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR | 3.3 | |
| Amadeus IT Group SA Class A | 1.8 | |
| LVMH Moet Hennessy Louis Vuitton SE | 1.8 | |
| Nestle S.A. | 1.7 | |
| AIA Group Limited | 1.5 | |
| UniCredit S.p.A. | 1.5 | |
| ICON Plc | 1.3 | |
| DSV A/S | 1.3 | |
| Keyence Corporation | 1.3 | |
| ResMed Inc. | 1.3 |
Source: FactSet, eVestment
The securities identified and described do not represent all of the securities purchased, sold or recommended for investor accounts. The reader should not assume that an investment in the securities identified was or will be profitable. For a complete list of securities offered during the period, please contact CBIS.
-
Q3 2021 Performance Review
12-Month Review
- Sector allocation and stock selection were additive to relative outperformance.
- The slight allocation to cash detracted given the strong results from the equity market.
- Holdings in Consumer Discretionary, Health Care, and Financials had the biggest positive impact on relative results.
3-Month Review
- Stock selection was the primary driver of performance.
- Sector allocation was slightly positive.
- A slight allocation to cash was beneficial in a declining equity market.
- Stock selection was mixed across sectors, with positive results in Consumer Discretionary, Health Care, and Information Technology. Negative impacts in Industrials and Communication Services partially offset the positive effects from the other sectors.
Current Positioning
- Positioning is relatively stable quarter to quarter.
- The Fund held 293 securities, slightly higher than a quarter ago. The Fund also exhibited a modest growth tilt relative to its benchmark. The Fund’s P/E and P/B ratios are slightly higher, and its dividend yield is lower than the index.
- 78% of the Fund market value invested in developed nation securities and 22% in emerging markets.
- Sector weightings currently include an 9% overweight in Information Technology and much more modest overages in Consumer Discretionary and Industrials. The Fund has slight underweights in all the other sectors.
All attribution is based on gross portfolio performance.