OPTIMUM INTERNATIONAL FUND
Name
As of 05/02/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.6%
1 yr return
10.6%
3 Yr Avg Return
-3.0%
5 Yr Avg Return
3.3%
Net Assets
$790 M
Holdings in Top 10
16.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.39%
SALES FEES
Front Load 5.75%
Deferred Load N/A
TRADING FEES
Turnover 106.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/02/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
OAIEX - Profile
Distributions
- YTD Total Return 2.6%
- 3 Yr Annualized Total Return -3.0%
- 5 Yr Annualized Total Return 3.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.46%
- Dividend Yield 1.2%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameOPTIMUM INTERNATIONAL FUND
-
Fund Family NameDelaware Funds by Macquarie
-
Inception DateJul 23, 2003
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBrendan Bradley
Fund Description
The Fund invests primarily in non-US securities, including securities of issuers located in emerging markets, but, in any event, will invest at least 65% of its net assets in non-US securities. The Fund considers non-US securities to include those securities issued by companies: (i) whose principal securities trading markets are outside the US; (ii) that derive 50% or more of their total revenue from either goods or services produced or sales made in markets outside the US; (iii) that have 50% or more of their assets outside the US; (iv) that are linked to non-US dollar currencies; or (v) that are organized under the laws of, or with principal offices in, a country other than the US. The Fund does not limit its investments to issuers within a specific market capitalization range.
The Fund intends to invest primarily in common stocks, but it may also invest in other securities that a sub-advisor believes provide opportunities for capital growth and income, such as preferred stocks, rights and warrants, depositary receipts, participatory notes and securities convertible into common stocks. In keeping with the Fund’s investment objective, the Fund may also invest in derivatives, including futures and options; and fixed income securities, including those rated below investment grade.
The Fund’s manager, Delaware Management Company (Manager), has selected Baillie Gifford Overseas Limited (Baillie Gifford) and Acadian Asset Management LLC (Acadian) to serve as the Fund’s sub-advisors. Each sub-advisor is responsible for the day-to-day investment management of the portion of the Fund’s assets that the Manager allocates to the sub-advisor. The Manager may change the allocation at any time. The relative values of each sub-advisor’s share of the Fund’s assets also may change over time. Each sub-advisor selects investments for its portion of the Fund based on the sub-advisor’s own investment style and strategy.
In managing its portion of the Fund’s assets, Baillie Gifford focuses on the following factors. The portfolio managers believe that investing for the long term is their greatest edge. Baillie Gifford’s research seeks to look 5-10 years ahead, and its average holding period is typically many times that of the general market. Baillie Gifford believes to outperform a portfolio manager has to be different than other managers and choose investments according to the strength of the opportunity, irrespective of domicile or weighting in any index. Baillie Gifford believes this normally leads to a highly differentiated portfolio with a low overlap versus the benchmark. Baillie Gifford further believes that great growth companies are consistently underappreciated by equity markets. As such, Baillie Gifford focuses on attempting to identify businesses that can sustainably grow profits and cashflows faster than the market over meaningful time frames.
In managing its portion of the Fund’s assets, Acadian utilizes a disciplined quantitative strategy to actively invest in non-US developed and emerging markets equity strategies. All stocks in the non-US equity universe are evaluated across multiple quantitative factors. Acadian’s quantitative investment process builds portfolios from the bottom up, using proprietary valuation models that measure approximately 20 aggregate factors, focusing on those that have proven most effective in predicting stock returns. The result is a rating of all securities in the Acadian database in terms of each stock’s expected return. A portfolio optimization program is used to balance the expected return on the stocks with factors such as company, country, or industry weightings of the Fund’s benchmark index; desired level of risk; estimated transaction costs; available liquidity; and other requirements.
In response to market, economic, political, or other conditions, a sub-advisor may temporarily use a different investment strategy for defensive purposes. If a sub-advisor does so, different factors could affect the Fund’s performance and the Fund may not achieve its investment objective. The Fund’s investment objective is nonfundamental and may be changed without shareholder approval. However, the Fund’s Board of Trustees (Board) must approve any changes to nonfundamental investment objectives, and the Fund’s shareholders would be given at least 60 days’ notice prior to any such change.
OAIEX - Performance
Return Ranking - Trailing
Period | OAIEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.6% | -7.2% | 28.7% | 86.42% |
1 Yr | 10.6% | -5.3% | 21.1% | 56.89% |
3 Yr | -3.0%* | -17.4% | 45.7% | 95.81% |
5 Yr | 3.3%* | -34.2% | 75.0% | 94.34% |
10 Yr | 3.1%* | -0.7% | 16.0% | 84.40% |
* Annualized
Return Ranking - Calendar
Period | OAIEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.6% | -7.3% | 22.0% | 19.49% |
2022 | -25.4% | -43.6% | 71.3% | 96.03% |
2021 | -6.3% | -28.5% | 18.9% | 92.36% |
2020 | 9.0% | -90.1% | 992.1% | 40.54% |
2019 | 17.0% | -1.9% | 38.8% | 77.97% |
Total Return Ranking - Trailing
Period | OAIEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.6% | -7.2% | 28.7% | 86.42% |
1 Yr | 10.6% | -5.3% | 21.1% | 56.89% |
3 Yr | -3.0%* | -17.4% | 45.7% | 95.81% |
5 Yr | 3.3%* | -34.2% | 75.0% | 94.34% |
10 Yr | 3.1%* | -0.7% | 16.0% | 84.40% |
* Annualized
Total Return Ranking - Calendar
Period | OAIEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 17.1% | 3.2% | 41.4% | 40.33% |
2022 | -23.2% | -43.6% | 144.8% | 96.64% |
2021 | 8.2% | -22.6% | 56.0% | 70.05% |
2020 | 11.2% | -89.7% | 1010.8% | 40.54% |
2019 | 19.2% | 4.3% | 38.8% | 84.92% |
NAV & Total Return History
OAIEX - Holdings
Concentration Analysis
OAIEX | Category Low | Category High | OAIEX % Rank | |
---|---|---|---|---|
Net Assets | 790 M | 2.56 M | 425 B | 49.85% |
Number of Holdings | 719 | 1 | 10801 | 18.29% |
Net Assets in Top 10 | 126 M | 0 | 41 B | 54.42% |
Weighting of Top 10 | 16.17% | 2.7% | 112.8% | 74.58% |
Top 10 Holdings
- SAP SE 2.74%
- MercadoLibre Inc 2.17%
- Taiwan Semiconductor Manufacturing Co Ltd 1.84%
- Novo Nordisk A/S 1.61%
- Samsung Electronics Co Ltd 1.38%
- Ryanair Holdings PLC 1.38%
- Volvo AB 1.32%
- Industria de Diseno Textil SA 1.26%
- CRH PLC 1.25%
- Atlas Copco AB 1.23%
Asset Allocation
Weighting | Return Low | Return High | OAIEX % Rank | |
---|---|---|---|---|
Stocks | 99.23% | 0.00% | 122.60% | 16.34% |
Preferred Stocks | 0.42% | -0.01% | 7.80% | 40.93% |
Cash | 0.35% | -22.43% | 100.00% | 89.51% |
Other | 0.00% | -2.97% | 43.01% | 78.41% |
Convertible Bonds | 0.00% | 0.00% | 4.18% | 63.91% |
Bonds | 0.00% | -0.92% | 71.30% | 67.02% |
Stock Sector Breakdown
Weighting | Return Low | Return High | OAIEX % Rank | |
---|---|---|---|---|
Industrials | 18.76% | 5.17% | 99.49% | 13.21% |
Technology | 16.24% | 0.00% | 36.32% | 9.22% |
Financial Services | 15.88% | 0.00% | 47.75% | 73.89% |
Basic Materials | 11.63% | 0.00% | 23.86% | 6.76% |
Healthcare | 10.38% | 0.00% | 21.01% | 69.28% |
Consumer Cyclical | 9.33% | 0.00% | 36.36% | 70.81% |
Energy | 5.67% | 0.00% | 16.89% | 31.34% |
Communication Services | 5.56% | 0.00% | 21.69% | 60.06% |
Consumer Defense | 4.69% | 0.00% | 32.29% | 92.93% |
Real Estate | 1.30% | 0.00% | 14.59% | 64.06% |
Utilities | 0.56% | 0.00% | 13.68% | 80.34% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | OAIEX % Rank | |
---|---|---|---|---|
Non US | 86.70% | 0.00% | 121.07% | 67.32% |
US | 12.52% | 0.00% | 103.55% | 22.94% |
OAIEX - Expenses
Operational Fees
OAIEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.39% | 0.01% | 19.62% | 26.58% |
Management Fee | 0.74% | 0.00% | 1.65% | 63.36% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 49.16% |
Administrative Fee | 0.05% | 0.01% | 1.00% | 30.23% |
Sales Fees
OAIEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 5.75% | 3.50% | 5.75% | 27.06% |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
OAIEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 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.
OAIEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 106.00% | 2.00% | 247.00% | 89.90% |
OAIEX - Distributions
Dividend Yield Analysis
OAIEX | Category Low | Category High | OAIEX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.18% | 0.00% | 25.25% | 84.33% |
Dividend Distribution Analysis
OAIEX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
OAIEX | Category Low | Category High | OAIEX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.46% | -0.93% | 6.38% | 53.76% |
Capital Gain Distribution Analysis
OAIEX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Monthly | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 07, 2023 | $0.140 | OrdinaryDividend |
Dec 09, 2022 | $0.305 | OrdinaryDividend |
Dec 08, 2022 | $0.305 | OrdinaryDividend |
Dec 13, 2019 | $0.248 | OrdinaryDividend |
Dec 13, 2018 | $0.176 | OrdinaryDividend |
Dec 13, 2016 | $0.104 | OrdinaryDividend |
Dec 11, 2015 | $0.059 | OrdinaryDividend |
Dec 12, 2014 | $0.087 | OrdinaryDividend |
Jun 16, 2014 | $0.039 | OrdinaryDividend |
Dec 13, 2013 | $0.023 | OrdinaryDividend |
Jun 17, 2013 | $0.059 | OrdinaryDividend |
Dec 14, 2012 | $0.152 | OrdinaryDividend |
Jun 18, 2012 | $0.103 | OrdinaryDividend |
Dec 15, 2011 | $0.074 | OrdinaryDividend |
Jun 22, 2011 | $0.108 | OrdinaryDividend |
Jun 16, 2010 | $0.156 | OrdinaryDividend |
Jun 23, 2009 | $0.160 | OrdinaryDividend |
Dec 23, 2008 | $0.224 | OrdinaryDividend |
Jun 25, 2008 | $0.102 | OrdinaryDividend |
Dec 20, 2007 | $0.115 | OrdinaryDividend |
OAIEX - Fund Manager Analysis
Managers
Brendan Bradley
Start Date
Tenure
Tenure Rank
Jan 14, 2015
7.38
7.4%
Brendan joined Acadian in 2004 and is the firm’s Chief Investment Officer. Brendan previously served as Director of Portfolio Management, overseeing portfolio management policy, and also as the Director of Acadian’s Managed Volatility strategies. Brendan is a member of several oversight committees at Acadian, including the Board of Managers, Executive Management Team, Executive Committee, and Responsible Investing Committee. Prior to Acadian, Brendan was a vice president at Upstream Technologies, where he designed and implemented investment management systems and strategies.
Ryan Taliaferro
Start Date
Tenure
Tenure Rank
Mar 29, 2019
3.18
3.2%
Ryan joined Acadian in 2011 and currently serves as director of equity strategies.
Toby Ross
Start Date
Tenure
Tenure Rank
Apr 23, 2021
1.1
1.1%
Toby Ross - graduated MA in English Literature from the University of Cambridge in June 2006 and joined Baillie Gifford in the same year. He spent some time as an Investment Analyst in the UK Equity Team and as a Global Sector Specialist, before joining the Global Income Growth team. Toby is a CFA Charterholder.
Jenny Davis
Start Date
Tenure
Tenure Rank
Apr 23, 2021
1.1
1.1%
Jenny Davis, Portfolio Manager. Miss Davis graduated BA in Music from Oxford University in 2008. She worked for Neptune Investment Management as an Assistant Fund Manager for two years before joining Baillie Gifford in 2011. Ms. Davis works full time conducting research for this team covering stocks in all International regions.
Donald Farquharson
Start Date
Tenure
Tenure Rank
Apr 23, 2021
1.1
1.1%
Joined Baillie Gifford in 2008 and became a Partner of Baillie Gifford & Co. in 2017. Mr. Farquharson has over 25 years’ investment experience dedicated almost entirely to Japanese equities. He spent 20 years working for Schroders as a Japanese specialist and subsequently Head of the Pan Pacific equity team and manager of the Schroder Japan Growth Fund plc. Between 1991 and 1995 he headed Schroders’ research team in Tokyo.
Andrew Stobart
Start Date
Tenure
Tenure Rank
Apr 23, 2021
1.1
1.1%
Andrew Stobart joined Baillie Gifford in 1991. He has worked in the Japanese, North American and UK Equity Teams. Prior to joining Baillie Gifford, Mr. Stobart worked for three years in investment banking in London.
Tom Walsh
Start Date
Tenure
Tenure Rank
Apr 23, 2021
1.1
1.1%
Tom Walsh, CFA, Portfolio Manager, joined Baillie Gifford Overseas Limited in 2009 and is an Investment Manager in the European Equity Team. Mr. Walsh joined the International Focus Portfolio Construction Group in 2014. Tom graduated LLB (Hons) in Law & Economics from the University of Edinburgh in 1999 and is both CFA and ACA qualified. He worked at Fidelity International, Merrill Lynch and Deloitte & Touche before joining Baillie Gifford in 2009.Mr. Walsh has been a member of the ACWI ex-US Alpha PCG since 2018.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 30.35 | 6.29 | 3.25 |