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Trending ETFs

Name

As of 12/08/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.78

$138 M

7.05%

$0.48

0.91%

Vitals

YTD Return

-52.4%

1 yr return

-51.5%

3 Yr Avg Return

-23.6%

5 Yr Avg Return

-14.9%

Net Assets

$138 M

Holdings in Top 10

32.6%

52 WEEK LOW AND HIGH

$6.8
$6.77
$14.92

Expenses

OPERATING FEES

Expense Ratio 0.91%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 15.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/08/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.78

$138 M

7.05%

$0.48

0.91%

DELPX - Profile

Distributions

  • YTD Total Return -52.4%
  • 3 Yr Annualized Total Return -23.6%
  • 5 Yr Annualized Total Return -13.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.84%
DIVIDENDS
  • Dividend Yield 7.1%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Macquarie Pooled Trust Labor Select International Equity Portfolio
  • Fund Family Name
    Macquarie Investment Management
  • Inception Date
    Dec 19, 1995
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Nigel Bliss

Fund Description

The Portfolio will primarily invest in equity securities of companies that are organized, have a majority of their assets, or derive most of their operating income outside of the US, and which, in the opinion of the Portfolio’s portfolio managers, are undervalued at the time of purchase based on the rigorous fundamental analysis that the portfolio managers employ. In addition to following these quantitative guidelines, the Sub-advisor will select securities of issuers that present certain characteristics that are compatible or operate in accordance with certain investment policies or restrictions followed by organized labor.

Under normal circumstances, the Portfolio will invest at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities (80% Policy). The Portfolio’s 80% Policy may be changed without shareholder approval. However, shareholders will be given notice at least 60 days prior to any such change. Under normal circumstances, the Portfolio will invest at least 40% of its total assets in securities of non-US issuers. This policy is in addition to the 80% Policy.

In selecting portfolio securities, the portfolio managers emphasize strong performance in falling markets relative to other mutual funds focusing on international equity investments. Equity securities include, but are not limited to, common stocks, securities convertible into common stocks, securities having common stock characteristics, such as rights and warrants to purchase common stocks, and preferred shares. To the extent that this Portfolio invests in convertible debt securities, those securities will be purchased on the basis of their equity characteristics, and ratings of those securities, if any, will not be an important factor in

their selection. Additionally, the Portfolio may, from time to time, hold its assets in cash (which may be US dollars or foreign currency, including the euro) or may invest in short-term debt securities or other money market instruments. Except when a temporary defensive approach is appropriate, the Portfolio generally will not hold more than 5% of its assets in cash or such short-term instruments.

From time to time, the Portfolio may invest up to 30% of its net assets in securities of issuers in the commercial banking industry; to the extent the Portfolio invests 30% of its net assets in such securities, it may be slightly more sensitive to movement in the commercial banking industry.

The portfolio managers’ approach in selecting investments for the Portfolio is primarily quantitatively oriented to individual stock selection and is value driven. In selecting stocks for the Portfolio, the portfolio managers identify those stocks that they believe will provide the highest total return over a market cycle, taking into consideration the movement in the price of the individual security, the impact of currency adjustment on a US-domiciled, dollar-based investor, and the investment guidelines described below. The portfolio managers conduct extensive fundamental research on a global basis, and it is through this research effort that securities with the potential for maximum long-term total return are identified. The center of the fundamental research effort is a value-oriented dividend discount methodology applied to individual securities and market analysis that isolates value across country boundaries. The portfolio managers’ approach focuses on future anticipated dividends and discounts the value of those dividends back to what they would be worth if they were being paid today. Comparisons of the values of different possible investments are then made.

Supplementing the portfolio managers’ quantitative approach to stock selection, the portfolio managers also attempt to follow certain qualitative investment guidelines that seek to identify issuers that present certain characteristics that are compatible or operate in accordance with certain investment policies or restrictions followed by organized labor. These qualitative investment guidelines include country screens, as well as additional issuer-specific criteria. The country screens require that the securities are of companies domiciled in those countries that are included in the MSCI EAFE (Europe, Australasia, and Far East) Index and Canada. Nations that are currently in this Index include, among others, Japan, the United Kingdom, Germany, France, and the Netherlands. In addition, the Portfolio will tend to favor investments in issuers located in those countries that the portfolio managers perceive as enjoying favorable relations with the US. Pursuant to the Portfolio’s issuer-specific criteria, the Portfolio will: (1) invest only in companies that are publicly traded; (2) focus on companies that show, in the portfolio managers’ opinion, evidence of pursuing fair labor practices; (3) focus on companies that have not been subject to penalties or tariffs imposed by applicable US government agencies for unfair trade practices within the previous two years; and (4) not invest in initial public offerings. Evidence of pursuing fair labor practices would include whether a company has demonstrated patterns of noncompliance with applicable labor or health and safety laws. The qualitative labor sensitivity factors that the portfolio managers will utilize in selecting securities will vary over time, and will be solely in the portfolio managers’ discretion.

The portfolio managers do not normally intend to respond to short-term market fluctuations or to acquire securities for the purpose of short-term trading; however, the portfolio managers may take advantage of short-term opportunities that are consistent with the Portfolio’s investment objective. It is anticipated that the annual turnover rate of the Portfolio, under normal circumstances, will generally not exceed 100%.

Currency considerations carry a special risk for a portfolio of international securities, and the portfolio managers use a purchasing power parity approach to evaluate currency risk. In this regard, the Portfolio may actively carry out hedging activities, and may invest in forward foreign currency contracts to hedge currency risks associated with the purchase of individual securities denominated in a particular currency.

The portfolio managers consider material ESG opportunities and risks as an integrated part of the investment process.

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DELPX - Performance

Return Ranking - Trailing

Period DELPX Return Category Return Low Category Return High Rank in Category (%)
YTD -52.4% -52.4% 424400.0% 100.00%
1 Yr -51.5% -51.5% 157.0% 100.00%
3 Yr -23.6%* -23.6% 12.6% 100.00%
5 Yr -14.9%* -14.9% 6.2% 100.00%
10 Yr -6.2%* -6.4% 9.7% 99.40%

* Annualized

Return Ranking - Calendar

Period DELPX Return Category Return Low Category Return High Rank in Category (%)
2023 9.0% -99.0% 64.4% 39.77%
2022 -4.6% -91.9% 8.3% 94.21%
2021 4.1% 1.4% 20.1% 72.33%
2020 -4.0% -100.0% -1.3% 13.91%
2019 3.4% 0.0% 18.0% 67.51%

Total Return Ranking - Trailing

Period DELPX Return Category Return Low Category Return High Rank in Category (%)
YTD -52.4% -52.4% 171.2% 100.00%
1 Yr -51.5% -51.5% 157.0% 100.00%
3 Yr -23.6%* -23.6% 16.0% 100.00%
5 Yr -13.8%* -13.8% 9.7% 100.00%
10 Yr -3.9%* -6.4% 13.3% 98.21%

* Annualized

Total Return Ranking - Calendar

Period DELPX Return Category Return Low Category Return High Rank in Category (%)
2023 9.0% -66.6% 64.4% 39.77%
2022 -4.6% -11.5% 211.0% 94.51%
2021 4.1% 1.4% 20.1% 72.41%
2020 -3.2% -17.4% -1.3% 9.93%
2019 4.0% 1.9% 433899.9% 54.87%

NAV & Total Return History


DELPX - Holdings

Concentration Analysis

DELPX Category Low Category High DELPX % Rank
Net Assets 138 M 2.21 M 44.7 B 76.12%
Number of Holdings 55 2 3900 85.24%
Net Assets in Top 10 51.3 M 530 K 13.7 B 68.80%
Weighting of Top 10 32.64% 7.3% 99.9% 19.37%

Top 10 Holdings

  1. Sony Group Corp 3.90%
  2. Sony Group Corp 3.90%
  3. Sony Group Corp 3.90%
  4. Sony Group Corp 3.90%
  5. Sony Group Corp 3.90%
  6. Sony Group Corp 3.90%
  7. Sony Group Corp 3.90%
  8. Sony Group Corp 3.90%
  9. Sony Group Corp 3.90%
  10. Sony Group Corp 3.90%

Asset Allocation

Weighting Return Low Return High DELPX % Rank
Stocks
99.66% 75.03% 100.46% 18.66%
Cash
0.34% -31.92% 11.89% 76.04%
Preferred Stocks
0.00% 0.00% 1.34% 10.03%
Other
0.00% -2.35% 6.11% 32.87%
Convertible Bonds
0.00% 0.00% 0.15% 4.46%
Bonds
0.00% 0.00% 31.71% 8.08%

Stock Sector Breakdown

Weighting Return Low Return High DELPX % Rank
Industrials
19.72% 1.03% 36.79% 7.02%
Healthcare
15.45% 0.00% 23.28% 12.64%
Financial Services
14.30% 0.00% 42.76% 89.61%
Utilities
10.36% 0.00% 27.46% 6.74%
Communication Services
9.59% 0.00% 23.78% 19.10%
Consumer Defense
8.25% 0.00% 31.84% 51.12%
Energy
6.94% 0.00% 26.59% 46.35%
Technology
6.87% 0.00% 24.16% 45.51%
Consumer Cyclical
6.47% 0.00% 27.46% 76.12%
Basic Materials
2.05% 0.00% 30.76% 96.63%
Real Estate
0.00% 0.00% 19.64% 79.78%

Stock Geographic Breakdown

Weighting Return Low Return High DELPX % Rank
Non US
97.18% 71.47% 100.46% 37.05%
US
2.48% 0.00% 15.02% 27.02%

DELPX - Expenses

Operational Fees

DELPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.91% 0.01% 4.03% 50.00%
Management Fee 0.75% 0.00% 1.25% 60.56%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 0.47% N/A

Sales Fees

DELPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

DELPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DELPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 15.00% 2.00% 158.16% 3.97%

DELPX - Distributions

Dividend Yield Analysis

DELPX Category Low Category High DELPX % Rank
Dividend Yield 7.05% 0.00% 14.14% 80.28%

Dividend Distribution Analysis

DELPX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Quarterly

Net Income Ratio Analysis

DELPX Category Low Category High DELPX % Rank
Net Income Ratio 2.84% -1.56% 7.85% 34.20%

Capital Gain Distribution Analysis

DELPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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DELPX - Fund Manager Analysis

Managers

Nigel Bliss


Start Date

Tenure

Tenure Rank

Oct 01, 2002

19.68

19.7%

Mr. Bliss is a graduate of the University of Manchester, holds the ASIP designation and is a member of the CFA Institute and the CFA Society of the UK. He commenced his career at Cazenove & Co. in 1993 and moved to join Mondrian in 1995. Mr. Bliss is a senior portfolio manager in the Non-US Equity Team and a member of Mondrian’s Non-US Equity Strategy Committee. He has had significant experience analyzing securities in the Pacific Basin region and in the global materials, utilities, property and industrials sectors. In recent years Mr. Bliss has taken responsibility for leading coverage of securities listed in the UK and Scandinavian markets whilst still maintaining his sector specialization.

Elizabeth Desmond


Start Date

Tenure

Tenure Rank

Nov 30, 2014

7.5

7.5%

Ms. Desmond holds a BA from Wellesley College and an MA in East Asian Studies from Stanford University. After working for the Japanese government for two years, she began her investment career as a Pacific Basin investment manager with Shearson Lehman Global Asset Management. In 1991 Ms. Desmond joined Mondrian Investment Partners’ predecessor organization as a founding member after previously working as a Pacific Basin equity analyst and senior portfolio manager at Hill Samuel Investment Advisers Ltd. She is a Director and leads the International Equity investment team; in addition she chairs the International Equity Strategy Committee. Ms. Desmond is a CFA Charterholder, and a member of the CFA Institute and the CFA Society of the UK. She sits on the CFA UK’s Advisory Council.

Zsolt Mester


Start Date

Tenure

Tenure Rank

Feb 28, 2019

3.25

3.3%

Mr. Mester holds a BSc (First Class) and an MSc (with Distinction) in Financial Economics from the University of London and an MPhil in Economics from the University of Oxford. After graduation, Mr. Mester worked for three years as an equity research analyst. Mr. Mester joined Mondrian in 2014 in the International Equities team. Mr. Mester is a CFA Charterholder and a member of the CFA Institute and the CFA Society of the UK.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.2 29.68 7.61 0.54