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Name

As of 04/17/2024

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

Global Strategy Fund

VGLSX | Fund

$9.38

$220 M

0.00%

0.77%

Vitals

YTD Return

3.6%

1 yr return

13.4%

3 Yr Avg Return

1.0%

5 Yr Avg Return

-0.2%

Net Assets

$220 M

Holdings in Top 10

17.8%

52 WEEK LOW AND HIGH

$9.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.77%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 39.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/17/2024

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

Global Strategy Fund

VGLSX | Fund

$9.38

$220 M

0.00%

0.77%

VGLSX - Profile

Distributions

  • YTD Total Return 3.6%
  • 3 Yr Annualized Total Return 1.0%
  • 5 Yr Annualized Total Return -0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.09%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Global Strategy Fund
  • Fund Family Name
    VALIC Company
  • Inception Date
    Sep 01, 2006
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Chandrakanth Seethamraju

Fund Description

Under normal market conditions, the Fund invests in equity securities of companies in any country, fixed income (debt) securities of companies and governments of any country, or other instruments with similar economic characteristics, and in money market securities. There are no minimum or maximum percentage targets for each asset class, though under normal market conditions, the subadviser will direct 50% to 80% of the Fund’s assets to equity securities. The Fund’s subadviser, Franklin Advisers, Inc.(“Franklin Advisers”), manages the equity portion of the Fund’s assets and allocates the remainder of the portfolio to be managed by its affiliate, Brandywine Global Investment Management, LLC (“Brandywine Global”), the Fund’s sub-subadviser. Although the Fund seeks investments across a number of countries and sectors, from time to time, based on economic conditions, the Fund may have significant positions in particular countries or sectors.The equity securities in which the Fund invests are primarily common stock of large- and mid-capitalization companies included in the Morgan Stanley Capital International All Country World Index (the “MSCI ACWI Index”) and depositary receipts representing such stocks. As of July 31, 2023, the market capitalization range of the companies in the MSCI ACWI Index was approximately $119.41 million to $3.11 trillion.With respect to equity securities, the Fund seeks to achieve a lower level of risk and higher risk-adjusted performance than the MSCI ACWI Index over the long term through a multi-factor selection process employed by the Fund’s subadviser. The subadviser’s multi-factor selection process for equity securities is designed to select stocks for the Fund that have favorable exposure to three investment factors - quality, value and momentum. Under normal market conditions, the Fund will hold 450 to 600 of the common stocks, or depositary receipts representing such stocks, in the MSCI ACWI Index.With respect to the Fund’s fixed income securities, the Fund’s sub-subadviser follows a value-driven, active, strategic approach to portfolio decisions that considers duration, yield curve exposure, credit exposure, and sector weightings that are based upon the broad investment themes of its global macroeconomic research platform as they apply to fixed income markets.The sub-subadviser has broad discretion to invest in multiple types of fixed income securities of any maturity and duration. The Fund can seek investment opportunities anywhere in the world. Under normal market conditions, the Fund’s foreign currency exposure will be limited to 25% of the Fund’s fixed income assets. Alternatively, the Fund could invest more than 25% of its fixed income securities in bonds denominated in non-U.S. currencies if it uses derivatives strategies to hedge the non-U.S. currency exposure back to the U.S. dollar so that the Fund would have no more than 25% of its fixed income portfolio exposed to non-U.S. currencies.The Fund may invest in securities that are rated in any category or unrated. Up to 15% of the Fund’s net assets may be invested in “high yield” or “junk” bonds (that is, securities rated below the Baa/BBB- categories or, if unrated, determined to be of comparable credit quality by the sub-subadviser), which are considered speculative.The Fund may invest in asset-backed and mortgage-backed securities. The Fund will not invest more than 25% of its fixed income assets in asset-backed and mortgage-backed securities that are not issued or guaranteed by, or comprised of securities issued or guaranteed by, a U.S. government agency or U.S. government-sponsored entity.Under normal market conditions, the Fund expects to invest at least 40% of its net assets in foreign securities, including foreign equity securities and foreign sovereign debt securities. The Fund considers an issuer to be from a particular country (including the United States) or geographic region if: (i) its principal securities trading market is in that country or geographic region; (ii) the company derives the majority of its annual revenue or earnings or assets from goods produced, sales made or services performed in that country or geographic region; or (iii) it is organized under the laws of, or has a principal office in, that country or geographic region. Although the Fund generally invests in securities of issuers located in developed countries, the Fund may invest up to 50% of its total assets in securities of issuers located in emerging markets.The Fund may invest in derivative instruments such as foreign currency forwards, currency options, bond futures, interest rate futures, equity futures, equity index futures, swaps (including interest rate, total return and inflation swaps), credit default swaps, credit default swap index products, instruments involved in currency risk management strategies, options, options on futures, structured credit products and currency index futures contracts. The Fund may use derivatives to enhance total return, as a means of providing additional exposure to certain types of investments, to hedge against fluctuations in securities prices, interest rates or currency exchange rates, to change the effective duration of its portfolio, as a cash flow management technique or as a substitute for the purchase or sale of securities or currencies.In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities.
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VGLSX - Performance

Return Ranking - Trailing

Period VGLSX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.6% -23.7% 16.4% 75.75%
1 Yr 13.4% -8.9% 48.3% 79.83%
3 Yr 1.0%* -2.2% 16.4% 93.76%
5 Yr -0.2%* -0.7% 13.4% 93.93%
10 Yr -2.4%* 0.9% 11.8% 77.72%

* Annualized

Return Ranking - Calendar

Period VGLSX Return Category Return Low Category Return High Rank in Category (%)
2023 4.9% -40.8% 20.6% 44.79%
2022 -16.8% -21.0% 24.5% 97.72%
2021 4.0% -24.2% 27.8% 99.53%
2020 -9.5% -23.1% 11.7% 23.88%
2019 -1.3% -100.0% 20.6% 43.05%

Total Return Ranking - Trailing

Period VGLSX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.6% -23.7% 16.4% 74.68%
1 Yr 13.4% -12.8% 48.3% 71.40%
3 Yr 1.0%* -3.4% 16.4% 93.67%
5 Yr -0.2%* -1.1% 13.4% 93.82%
10 Yr -2.4%* 0.9% 11.8% 77.62%

* Annualized

Total Return Ranking - Calendar

Period VGLSX Return Category Return Low Category Return High Rank in Category (%)
2023 15.6% -40.8% 20.6% 44.79%
2022 -16.8% -21.0% 24.5% 97.72%
2021 8.6% -24.2% 27.8% 99.53%
2020 -9.5% -23.1% 11.7% 47.89%
2019 -1.3% -2.9% 23.1% 70.30%

NAV & Total Return History

VGLSX - Holdings

Concentration Analysis

VGLSX Category Low Category High VGLSX % Rank
Net Assets 220 M 1.12 M 110 B 63.28%
Number of Holdings 611 2 10961 30.69%
Net Assets in Top 10 36.9 M -31.7 M 22 B 67.85%
Weighting of Top 10 17.78% 10.8% 100.0% 79.38%

Top 10 Holdings

  1. Apple Inc 2.53%
  2. State Street Institutional U.S. Government Money Market Fund 2.33%
  3. Microsoft Corp 2.18%
  4. United Kingdom Gilt 2.14%
  5. United States Treasury Floating Rate Note 1.71%
  6. Canadian Government Bond 1.69%
  7. Colombian TES 1.46%
  8. Alphabet Inc 1.30%
  9. Meta Platforms Inc 1.30%
  10. Freddie Mac Structured Agency Credit Risk Debt Notes 1.13%

Asset Allocation

Weighting Return Low Return High VGLSX % Rank
Stocks 		60.26% -45.72% 98.42% 53.86%
Bonds 		35.25% -39.76% 93.84% 19.62%
Cash 		3.84% -97.12% 185.58% 85.18%
Preferred Stocks 		0.52% -0.03% 14.00% 94.36%
Convertible Bonds 		0.45% 0.00% 25.49% 37.58%
Other 		0.13% -1.25% 197.12% 70.15%

Stock Sector Breakdown

Weighting Return Low Return High VGLSX % Rank
Technology 		21.27% 0.00% 39.48% 4.25%
Financial Services 		14.80% 0.00% 30.34% 38.43%
Healthcare 		11.67% 0.00% 30.30% 62.21%
Consumer Cyclical 		9.45% 0.00% 20.84% 52.44%
Industrials 		8.76% 0.09% 32.39% 52.23%
Communication Services 		8.35% 0.00% 28.59% 6.58%
Consumer Defense 		8.30% 0.00% 31.85% 29.94%
Energy 		5.89% 0.00% 38.61% 87.69%
Basic Materials 		5.16% 0.00% 60.23% 41.19%
Real Estate 		3.35% 0.00% 90.14% 67.30%
Utilities 		3.00% 0.00% 40.29% 82.38%

Stock Geographic Breakdown

Weighting Return Low Return High VGLSX % Rank
US 		35.46% -4.82% 95.75% 44.05%
Non US 		24.80% -46.69% 57.06% 58.46%

Bond Sector Breakdown

Weighting Return Low Return High VGLSX % Rank
Corporate 		49.10% 0.00% 99.90% 17.75%
Government 		30.86% 0.00% 98.64% 60.54%
Securitized 		11.89% 0.00% 83.28% 31.11%
Cash & Equivalents 		3.45% 0.10% 100.00% 94.15%
Derivative 		0.13% 0.00% 41.88% 18.16%
Municipal 		0.00% 0.00% 31.28% 90.40%

Bond Geographic Breakdown

Weighting Return Low Return High VGLSX % Rank
US 		27.68% -177.12% 87.76% 32.36%
Non US 		7.57% -39.00% 137.36% 11.27%

VGLSX - Expenses

Operational Fees

VGLSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.77% 0.16% 2.71% 88.73%
Management Fee 0.50% 0.00% 1.70% 34.69%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.06% 0.01% 0.70% 28.42%

Sales Fees

VGLSX 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% 5.50% N/A

Trading Fees

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

VGLSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 39.00% 0.00% 441.00% 24.64%

VGLSX - Distributions

Dividend Yield Analysis

VGLSX Category Low Category High VGLSX % Rank
Dividend Yield 0.00% 0.00% 10.92% 90.23%

Dividend Distribution Analysis

VGLSX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Monthly Monthly

Net Income Ratio Analysis

VGLSX Category Low Category High VGLSX % Rank
Net Income Ratio 2.09% -5.20% 6.33% 31.59%

Capital Gain Distribution Analysis

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

Distributions History

View More +

VGLSX - Fund Manager Analysis

Managers

Chandrakanth Seethamraju

Start Date

Tenure

Tenure Rank

Jan 29, 2020

2.34

2.3%

Chandra Seethamraju is the director of quantitative strategies at Franklin Systematic, the quantitative hub of Franklin Templeton Multi-Asset Solutions. His research focuses on empirical research to support the different investment strategies that the group offers. He is also responsible for developing the models and the methodology behind Franklin Templeton's Smart Beta ETF's. Prior to joining Franklin Templeton Investments in 2013, Dr. Seethamraju was a vice president and senior research analyst at Mellon Capital Management in San Francisco.

Sundaram Chettiappan

Start Date

Tenure

Tenure Rank

Jan 29, 2020

2.34

2.3%

Sundaram Chettiappan is a vice president and senior research analyst for Franklin Systematic, the quantitative hub of Franklin Templeton Multi-Asset Solutions. He is focused on factor based strategies in Quantitative Equities. Prior to joining Franklin Templeton Investments in 2018 Mr.Chettiappan worked at Balyasny Asset Management where he was a Senior Quantitative Researcher building deep fundamental sector based long short models within the Systematic Strategies group.

Brian Kloss

Start Date

Tenure

Tenure Rank

Dec 07, 2021

0.48

0.5%

Brian L. Kloss, JD, CPA, is a portfolio manager and head of high yield for Brandywine Global. Brian joined Brandywine Global in December 2009。Previously, Brian was co-portfolio manager at Dreman Value Management, LLC (2007-2009); high yield analyst/trader at Gartmore Global Investments (2002-2007); high yield and equity portfolio manager and general analyst at Penn Capital Management, Ltd. (2000-2002); an analyst with The Concord Advisory Group, Ltd. (1998-2000); and an international tax consultant with Deloitte & Touche LLP (1995-1998).

Tracy Chen

Start Date

Tenure

Tenure Rank

Dec 07, 2021

0.48

0.5%

Tracy Chen, CFA®, CAIA is a portfolio manager and head of Structured Credit for Brandywine Global. She joined the firm in August 2008. Prior to joining Brandywine Global, she was with UBS Investment Bank as director of the fixed income valuation group (2006-2008), GMAC Mortgage Group as a mortgage pricing analyst (2003-2006), Deloitte Consulting as a senior corporate strategy consultant (2001-2003), and J&A Securities Ltd. in Shenzhen, China, as an international corporate finance associate (1995-1999).

Michael Arno

Start Date

Tenure

Tenure Rank

Dec 07, 2021

0.48

0.5%

Mike is a research analyst on the Global Credit team. He is responsible for providing credit research analysis and support. He joined Brandywine Global as a product specialist within client service in 2006 and has been a member of the Global Credit team since April 2011. Prior to joining Brandywine Global in 2006, Mike was an associate for the Vanguard Group (2004-2006). A CFA® charterholder, he earned a B.S. in Finance from Temple University.

Renato Latini

Start Date

Tenure

Tenure Rank

Dec 07, 2021

0.48

0.5%

Renato is a high yield research analyst on the Global Credit team. He is responsible for providing global macro and credit research analysis and support. Renato joined Brandywine Global in 2006 as a trader for the Firm’s Global Fixed income and related strategies. Prior to joining Brandywine Global in 2006, Renato was an investment analyst at Watson Wyatt Investment Consulting (2004-2006). He is a CFA® charterholder and earned a B.A. in Physics and Economics from the University of Pennsylvania.

Berkeley Revenaugh

Start Date

Tenure

Tenure Rank

Dec 07, 2021

0.48

0.5%

Ms. Revenaugh has been a co-lead portfolio manager since April 2021. She joined Franklin Templeton in 2019. Prior to joining Franklin Templeton, she was a portfolio strategist and a member of the investment committee with Windward Investment Management.

Gary Motyl

Start Date

Tenure

Tenure Rank

Dec 07, 2021

0.48

0.5%

Motyl is the president of Investment Counsel, his employer since 1981. He provides research and advice on the purchases and sales of individual securities, and portfolio risk assessment. Motyl holds the Charted Financial Analyst designation.

Anujeet Sareen

Start Date

Tenure

Tenure Rank

Dec 07, 2021

0.48

0.5%

Anujeet Sareen is a portfolio manager for the Firm’s Global Fixed Income and related strategies. Prior to joining the Firm in 2016, Anujeet was a managing director of global fixed income and a global macro strategist, as well as chair of the Currency Strategy Group at Wellington Management in Boston. Over his 22-year career at Wellington (1994-2016), he held a variety of roles while cultivating extensive fixed income and currency management experience. Anujeet is a CFA® charterholder and earned a B.A. in Computer Science from Brown University.

Tom Nelson

Start Date

Tenure

Tenure Rank

Dec 07, 2021

0.48

0.5%

Tom is Co-Head of Thematic Equity within the Multi-Asset team at Ninety One. He is co-portfolio manager of the Energy and Natural Resources strategies, which invest directly in equities in these sectors. Tom is part of the Sustainability leadership team and was instrumental in the launch of the Global Environment strategy. Tom joined the firm in 2012 and before that spent seven years at Guinness Asset Management where he was part of the team that managed the outsourced Investec Global Energy Fund from 2005 to 2008 and was subsequently co-portfolio manager of the Guinness Global Energy Fund from 2008 onwards. Tom holds the UKSIP Level III Certificate in Investment Management and an MA in Modern Languages (French and German) from the University of Oxford.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 30.27 6.52 9.25

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