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Trending ETFs

Name

As of 08/11/2023

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

$9.68

$7.98 M

0.00%

2.00%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$7.98 M

Holdings in Top 10

47.1%

52 WEEK LOW AND HIGH

$9.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.00%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 32.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

$100,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 08/11/2023

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

$9.68

$7.98 M

0.00%

2.00%

PBIIX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.50%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Polen International Small Company Growth Fund
  • Fund Family Name
    Polen Capital
  • Inception Date
    Jan 02, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Rob Forker

Fund Description

The Fund typically invests in a focused portfolio of common stocks of small companies and, under normal circumstances, the Fund invests at least 80% of its net assets in securities of non-U.S. issuers that are small companies.
This 80% policy to invest in small companies may be changed by the Board of Trustees without shareholder approval upon 60 days’ notice to shareholders. The Adviser considers small companies for this purpose to be those companies that, at the time of purchase, are within the range of the market capitalizations of companies in the MSCI ACWI ex USA Small Cap Index (Net Dividend) on a rolling one-year basis (the “SmallCap Range”). This policy does not require the Fund to sell the security of a small company if such company’s market capitalization moves outside the range of the market capitalizations of companies in the SmallCap Range; however, additional purchases of such security will be subject to the 20% limitation for securities outside of the Fund’s small company portfolio. As of May 31, 2022, the total market capitalization range of companies included in the MSCI ACWI ex USA Small Cap Index (Net Dividend) over the past year was $792 million to $29.3 billion. Non-U.S. issuers are issuers that (i) have their principal securities trading market outside the U.S.; (ii) alone or on a consolidated basis derive 50% or more of annual revenue from goods produced, sales made or services performed outside the U.S.; (iii) are organized under the laws of, and have a principal office in, a country other than the U.S.; (iv) are depositary receipts of issuers described in (i) and/or (iii) above; or (v) are exchange-traded funds that invest at least 80% of their assets in securities of “non-U.S. Issuers” that are small companies. While the Fund will at all times invest in at least three different countries, the Adviser anticipates that the Fund will ordinarily invest in approximately six or more countries. Consistent with its investment criteria, the Fund may invest in certain emerging market companies.
Emerging market companies are companies that (i) have their principal securities trading market in an emerging country; (ii) alone or on a consolidated basis derive 50% or more of annual revenue from goods produced, sales made or services performed in emerging countries; (iii) are organized under the laws of, and have a principal office in, an emerging country, (iv) are depositary receipts of issuers described in (i) and/or (iii) above, or (v) are exchange-traded funds that invest in an emerging country or countries. While the Fund does not have a policy limiting its investment in emerging market companies, it is not currently anticipated that the Fund’s investment in emerging market companies will, under normal circumstances, exceed 40% of the Fund’s assets.
“Emerging countries” include those currently considered to be an emerging or developing country by the World Bank, the International Finance Corporation, the United Nations, or the countries’ authorities, and all countries represented in any widely-recognized index of emerging market securities. Typically, emerging markets are in countries that are in the process of industrialization, with lower gross national products (GNP) than more developed countries.
The Adviser uses an intensive fundamental research process in order to identify companies that the Adviser believes have certain attractive characteristics, which are typically reflective of an underlying competitive advantage. Those characteristics associated with the Fund’s growth style of investing include: (i) consistent and sustainable high return on capital, (ii) strong earnings growth and free cash flow generation, (iii) strong balance sheets typically with low or no net debt to total capital and (iv) competent and shareholder-oriented management teams. The Fund invests in companies that the Adviser believes have a sustainable competitive advantage within an industry with high barriers to entry. The Adviser believes that such companies not only have the potential to contribute greater returns to the Fund, but also may hold less risk of loss of capital.
The Adviser believes that consistent earnings growth is the primary driver of intrinsic value growth and long-term stock price appreciation. Accordingly, the Adviser focuses its efforts on identifying and investing in a concentrated portfolio of high-quality small capitalization growth companies that, in the Adviser’s opinion, are able to deliver sustainable above average earnings growth driven by a sustainable competitive advantage. The Adviser integrates material environmental, social, and governance (ESG) factors into research analysis as part of a comprehensive evaluation of a company’s long-term financial sustainability.
The Fund is non-diversified, which means that a significant portion of the Fund’s assets may be invested in the securities of a single or small number of companies and/or in a more limited number of sectors than a diversified mutual fund. Although the Fund may not “concentrate” (invest 25% or more of its net assets) in any industry, the Fund may focus its investments from time to time in one or more sectors of the economy or stock market.
The Fund will usually sell a security if, in the view of the Adviser, there is a potential threat to the company’s competitive advantage or a degradation in its prospects for strong, long-term earnings growth. The Adviser may also sell a security if it is believed by the Adviser to be overvalued or if a more attractive investment opportunity exists. Although the Adviser may purchase and then sell a security in a shorter period of time, the Adviser typically invests in securities with the expectation of holding those investments on a long term basis.
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PBIIX - Performance

Return Ranking - Trailing

Period PBIIX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -15.1% 18.0% 97.12%
1 Yr N/A -16.1% 18.8% 98.56%
3 Yr N/A* -23.7% 0.4% 93.02%
5 Yr N/A* -13.3% 3.9% N/A
10 Yr N/A* -10.8% 4.7% N/A

* Annualized

Return Ranking - Calendar

Period PBIIX Return Category Return Low Category Return High Rank in Category (%)
2023 -43.4% -46.4% -21.4% 98.41%
2022 8.3% -30.6% 16.4% 11.67%
2021 18.3% -1.5% 62.8% 50.00%
2020 N/A 9.7% 44.0% N/A
2019 N/A -51.1% -3.5% N/A

Total Return Ranking - Trailing

Period PBIIX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -15.0% 18.0% 96.40%
1 Yr N/A -16.0% 18.8% 97.84%
3 Yr N/A* -23.5% 3.3% 94.57%
5 Yr N/A* -8.2% 6.2% N/A
10 Yr N/A* 1.4% 8.1% N/A

* Annualized

Total Return Ranking - Calendar

Period PBIIX Return Category Return Low Category Return High Rank in Category (%)
2023 -43.4% -46.4% -18.5% 98.41%
2022 10.4% -30.6% 24.7% 70.00%
2021 18.3% 1.6% 68.3% 63.33%
2020 N/A 9.7% 44.0% N/A
2019 N/A -31.8% -3.2% N/A

NAV & Total Return History


PBIIX - Holdings

Concentration Analysis

PBIIX Category Low Category High PBIIX % Rank
Net Assets 7.98 M 1.52 M 26.9 B 85.50%
Number of Holdings 30 30 1618 99.24%
Net Assets in Top 10 11.7 M 398 K 1.22 B 74.81%
Weighting of Top 10 47.07% 5.3% 48.4% 4.58%

Top 10 Holdings

  1. Netcompany Group A/S 7.11%
  2. Netcompany Group A/S 7.11%
  3. Netcompany Group A/S 7.11%
  4. Netcompany Group A/S 7.11%
  5. Netcompany Group A/S 7.11%
  6. Netcompany Group A/S 7.11%
  7. Netcompany Group A/S 7.11%
  8. Netcompany Group A/S 7.11%
  9. Netcompany Group A/S 7.11%
  10. Netcompany Group A/S 7.11%

Asset Allocation

Weighting Return Low Return High PBIIX % Rank
Stocks
97.77% 82.89% 99.66% 37.40%
Cash
2.22% 0.00% 17.11% 58.02%
Preferred Stocks
0.00% 0.00% 0.67% 32.06%
Other
0.00% -0.34% 1.87% 37.40%
Convertible Bonds
0.00% 0.00% 0.00% 26.72%
Bonds
0.00% 0.00% 0.13% 28.24%

Stock Sector Breakdown

Weighting Return Low Return High PBIIX % Rank
Technology
35.34% 6.70% 37.76% 2.29%
Communication Services
16.30% 1.49% 23.23% 3.82%
Healthcare
16.06% 1.74% 29.97% 27.48%
Consumer Cyclical
16.03% 1.31% 28.28% 5.34%
Financial Services
6.65% 1.92% 22.28% 72.52%
Consumer Defense
4.53% 1.61% 17.90% 61.07%
Real Estate
3.90% 0.00% 13.00% 41.98%
Industrials
1.19% 0.00% 40.13% 97.71%
Utilities
0.00% 0.00% 5.12% 65.65%
Energy
0.00% 0.00% 9.29% 81.68%
Basic Materials
0.00% 0.00% 18.70% 99.24%

Stock Geographic Breakdown

Weighting Return Low Return High PBIIX % Rank
Non US
92.12% 71.19% 99.66% 74.81%
US
5.65% 0.00% 23.33% 18.32%

PBIIX - Expenses

Operational Fees

PBIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.00% 0.01% 22.37% 20.66%
Management Fee 1.00% 0.00% 1.75% 66.41%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.05% 0.26% N/A

Sales Fees

PBIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

PBIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% 12.50%

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.

PBIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 32.00% 8.00% 316.00% 47.66%

PBIIX - Distributions

Dividend Yield Analysis

PBIIX Category Low Category High PBIIX % Rank
Dividend Yield 0.00% 0.00% 1.84% 38.17%

Dividend Distribution Analysis

PBIIX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Semi-Annually Annually

Net Income Ratio Analysis

PBIIX Category Low Category High PBIIX % Rank
Net Income Ratio -0.50% -1.81% 1.51% 78.57%

Capital Gain Distribution Analysis

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

Distributions History

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PBIIX - Fund Manager Analysis

Managers

Rob Forker


Start Date

Tenure

Tenure Rank

Jan 02, 2019

3.41

3.4%

Prior to joining Polen Capital, he worked for 10 years at Loomis, Sayles & Company with six of those years dedicated to the Global Opportunities Fund as a senior equity analyst and four years as an equity analyst in central research. Before business school, Mr. Forker worked at Bear Stearns and Lehman Brothers on the institutional trading desks. He received his B.A. and M.B.A. from the University of Virginia.

Troy Renauld


Start Date

Tenure

Tenure Rank

Apr 07, 2021

1.15

1.2%

Mr. Renauld joined Polen Capital Management in 2018. He is co-portfolio manager of the International Small Company Growth strategy. Prior to joining Polen Capital, Mr. Renauld worked for almost five years at Bright Rock Capital Management as an Equity Research Analyst. Mr. Renauld received a B.S. in Civil Engineering from the University of Massachusetts Dartmouth and an M.B.A. with a Specialization in Asset Management from the Boston College Carroll School of Management. Mr. Renauld is a CFA® charterholder. He also volunteers as a teaching assistant at Boston College and Harvard Business School for courses on investing and fundamental analysis.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 28.52 5.42 0.17