Emerging markets: A re-emerging opportunity
Many investors have been reluctant to invest in emerging market equities because of concerns about volatility. We believe the fundamentals argue in favor of a strategic allocation.
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 Sept. 30, 2019, 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.
All information is based on Class I shares.
Top 10 equity holdings as a percent of net assets as of 09/30/2019: Samsung Electronics Co. Ltd., 6.65%; Alibaba Group Holdings Ltd. ADR, 6.30%; Tencent Holdings Ltd., 5.83%; Taiwan Semiconductor Manufacturing Co. Ltd., 5.74%; Petroleo Brasileiro S.A., 3.52%; Reliance Industries Ltd., 3.29%; MercadoLibre, Inc., 3.24%; Hyundai Motor Co., 2.81%; Yandex N.V., Class A, 2.76%; Branco do Brasil S.A., 2.35%.
Risk factors: The value of the Fund's shares will change, and you could lose money on your investment. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. 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. 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.