Navigating a negative rate world
The Fed is facing pressure to push rates towards zero, while the ECB is doubling down on its negative rate policy.
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.
Top 10 holdings (%) as of 09/30/2019: CoStar Group, Inc. 3.5, Chipotle Mexican Grill, Inc. 3.1, Electronic Arts, Inc. 2.7, Zoetis, Inc. 2.7, TransUnion 2.5, Keysight Technologies, Inc. 2.4, Tractor Supply Co. 2.4, Teradyne, Inc. 2.4, Edwards Lifesciences Corp. 2.3 and ServiceNow, Inc. 2.2.
The Russell Midcap Growth Index measures the performance of the mid-cap growth segment of the U.S. equity universe. It is not possible to invest directly in an index.
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. Investing in mid-cap growth stocks may carry more risk than investing in stocks of larger more well-established companies. 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. Not all funds or fund classes may be offered at all broker/dealers. These and other risks are more fully described in the Fund’s prospectus.