Oil industry faces short-term hurricane impact
While it’s too early to know the full economic and human toll of Hurricane Harvey, we expect a relatively short-term impact on the U.S. energy industry.
The opinions expressed are those of the Fund’s manager and are not meant as investment advice or to predict or project the future performance of any investment product. The opinions are current through June 30, 2017, 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 06/30/2017: MasterCard, Inc., Class A 3.9%, Airbus SE 3.6%, Facebook, Inc. Class A 3.5%, Koninklijke Philips Electronics N.V. 3.5%, Alibaba Group Holding Ltd. ADR 3.3%, Halliburton Co. 3.3%, Amazon.com, Inc. 3.2%, Amazon.com, Inc. 3.2%, Philip Morris International, Inc. 3.1%, Visa, Inc., Class A 2.9% and The Home Depot Inc. 2.8%
Class R6 shares were renamed Class N on March 3, 2017.
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. 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.