2021 Midyear Outlook: Navigating through the recovery
Listen in as we discuss our outlook on the US recovery and the Federal Reserve’s new framework, including its impact on inflation, interest rates and growth.
The opinions expressed are those of the Fund’s managers and are not meant as investment advice or to predict or project the future performance of any investment product. The opinions are current through March 31, 2021, are subject to change at any time based on market and other current conditions, and no forecasts can be guaranteed. This commentary is being provided as a general source of information and is not intended as a recommendation to purchase, sell, or hold any specific security or to engage in any investment strategy. Investment decisions should always be made based on an investor’s specific objectives, financial needs, risk tolerance and time horizon. Past performance is not a guarantee of future results.
Top 10 equity holdings as a percent of net assets as of 03/31/2021: Taiwan Semiconductor Manufacturing Co. Ltd., 8.2%; Samsung Electronics Co. Ltd. 7.3%; Tencent Holdings Ltd., 7.0%; Alibaba Group Holding Ltd. ADR, 4.7%; JD.com Inc. ADR 2.8%; Ling Ning Co. Ltd. 2.8%; Reliance Industries Ltd. 2.7%; MercadoLibre, Inc. 2.7%; ICICI Bank Ltd. 2.5%; and Midea Group Co. Ltd., Class A.
All information is based on Class I shares.
Risk factors: The value of the Fund's shares will change, and you could lose money on your investment. International investing involves additional risks including currency fluctuations, political or economic conditions affecting the foreign country, and differences in accounting standards and foreign regulations. These risks are magnified in emerging markets. To the extent the Fund invests a significant portion of its assets in a particular geographical region or country, conditions in that region or country will have a greater effect on Fund performance than they would in a more geographically diversified fund. These and other risks are more fully described in the Fund's prospectus. Not all funds or fund classes may be offered at all broker/dealers.