Consumption disruption in 2019?
The U.S. consumer has been a significant contributor to domestic economic growth in 2018. Will consumer consumption be hit by inflation in 2019?
The opinions expressed are those of the Fund’s managers for Class I shares and are not meant as investment advice or to predict or project the future performance of any investment product. The opinions are current through Dec. 31, 2018, 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.
The Fund is sub-advised by I.G. International Management Limited, which delegates to its subsidiary, I.G. Investment Management (Hong Kong) Limited, for additional portfolio management responsibilities. References to I.G. International Management Limited include both entities.
Seamus Kelly was added as an additional portfolio manager on the Fund in January 2018.
Top 10 Equity Holdings as a percent of net assets as of 12/31/2018: GLP J-REIT 2.1%, SCSK Corp. 2.1%, &br;Komeda Holdings Co. Ltd. 2.0%, Okamura Corp. 2.0%, Matsumotokiyoshi Holdings Co. Ltd. 1.9%, Aistom 1.8%, Kenedix Office Investment Corp. 1.7%, Rubis Group 1.7%, Manulife U.S. REIT 1.6% and Maxwell Holdings Ltd. 1.6%.
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