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Trending ETFs

Name

As of 03/26/2024

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

$12.43

$75.5 M

1.27%

$0.16

1.35%

Vitals

YTD Return

4.0%

1 yr return

19.7%

3 Yr Avg Return

8.2%

5 Yr Avg Return

11.2%

Net Assets

$75.5 M

Holdings in Top 10

44.6%

52 WEEK LOW AND HIGH

$12.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.35%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$12.43

$75.5 M

1.27%

$0.16

1.35%

KBIWX - Profile

Distributions

  • YTD Total Return 4.0%
  • 3 Yr Annualized Total Return 8.2%
  • 5 Yr Annualized Total Return 11.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.37%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    KBI GLOBAL INVESTORS AQUARIUS FUND
  • Fund Family Name
    KBI
  • Inception Date
    Oct 12, 2018
  • Shares Outstanding
    4562035
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Matthew Sheldon

Fund Description

Under normal circumstances, the Fund principally invests in equity securities, without regard to market capitalization, of companies whose main business is in the water-related resource sector or that are significantly involved in the water-related resource sector. Water-related resource sector activities may include, but are not limited to, water treatment, engineering, filtration, environmental controls, water-related equipment, water and wastewater services, and water utilities. Such activities may also include, but are not limited to, water distribution, water infrastructure and equipment, water-related construction and engineering, environmental control and metering, and services or technologies that conserve or enable more efficient use of water. The specific activities that the Fund may from time to time consider to qualify as “water-related resource sector activities” will change as markets, technologies and investment practices develop. The Fund seeks to invest in companies directly involved in the management of water-related resources and not in packagers or resellers of bottled water.

The Fund may invest in equity securities of U.S. and non-U.S. (including both developed and emerging market) companies. The equity securities in which the Fund invests are mainly common stocks, but may also include American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs” and, together with ADRs, “Depositary Receipts”), which are certificates issued by a bank or trust company that represent ownership interests in securities of non-U.S. companies. The Fund may hold up to 20% of its net assets in cash and money market instruments. The Fund may invest in securities of companies with any market capitalization and may focus its investments in a particular geographic region. From time to time, the Fund may invest significantly in small and medium capitalization companies. As of the date of this prospectus, the Adviser anticipates that the Fund will have significant geographic exposure to Europe and Asia.

The Fund seeks to achieve its investment objective through an integrated investment approach that incorporates four key elements:

1.

Theme Definition and Investment Universe

The Adviser seeks to precisely define the “water” theme for the Fund’s investment portfolio and identify companies to be included in the Fund’s investable universe in order to create an investment portfolio that accurately reflects the opportunities available for the Fund. Companies that have been identified by the Adviser for inclusion in the Fund’s investment universe include, but are not limited to, manufacturers, service providers and operators that offer solutions in one or more of the following four categories: (i) increasing supply and access; (ii) decreasing demand and waste; (iii) improving and testing quality; and (iv) building and fixing infrastructure.

A stock must meet the Adviser’s revenue screen in order to be included in the Fund’s investable universe. In order to meet the Adviser’s revenue screen, a company must (a) derive at least 50% of its revenue from water-related resource sector activities; or (b) derive at least 10% of its revenues from water-related resource sector activities and be considered a market leader in the sector. The Adviser then assesses the fundamentals of potential buys and ultimately aims to identify companies with attractive growth prospects that are not currently reflected in their valuation.

2.

Research

The Adviser undertakes fundamental analysis in order to identify what in its view are attractively-priced superior companies. In addition to internal research, the Adviser utilizes a select group of niche brokers that view the world with a similar specialist lens and can provide access to capital raising opportunities such as initial public offerings, private placements, private equity secondary investments, and Rule 144A/Regulation S transactions. Representatives of the Adviser also attend industry conferences, work closely with a number of industry bodies and speak directly with potential portfolio companies.

The Adviser explicitly integrates environmental, social and governance (“ESG”) factors into the Fund’s investment process in accordance with the Adviser’s belief that companies with strong governance and whose products and services enhance social or environmental goals should meaningfully outperform other companies and are more likely to have long, durable, sustainable business models. The Fund may invest in companies which already demonstrate leadership on ESG issues relevant

to their industries, as well as in companies which have yet to make significant progress on such issues but have the potential to do so. The Adviser believes that engagement with selected companies in the Fund’s portfolio will encourage such companies to address issues where sufficient commitment is lacking, or reinforce progress that may be underway. While the Adviser conducts its own assessment of the ESG performance of all companies, it also uses the services of a third-party provider of ESG research and ratings to assist with that process.

3.

Conviction-Based Portfolio Construction

Weights in securities of particular companies are determined based on the Adviser’s assessment of upside relative to its fair value. The Adviser also implements a risk management overlay that focuses on liquidity, quality, volatility and diversification, e.g., the financial strength, geographical location, business lines and trading pattern of the underlying stock.

4.

Continuous Challenge

In addition to the risk monitoring carried out by the Adviser, the Fund’s portfolio is subject to continuous review and challenge by the Fund’s investment team. The Adviser also reviews and challenges the Fund’s portfolio to ensure that the portfolio meets diversification parameters and that overall portfolio risks are in line with risk parameters.

The Adviser may sell a stock if the Adviser believes that the stock’s earnings expectations have deteriorated; the Adviser identifies a negative change in corporate information; the Adviser identifies new information with regard to a material environmental, social and governance issue or controversy; or the Adviser identifies a more attractive investment opportunity. The Adviser may also sell a stock if the stock has achieved its target price; the stock has experienced a change in fundamentals since it was purchased; or there has been a significant change in core activities in the underlying company resulting in thematic characteristics being significantly altered.

The portfolio is designed to consist of securities of 35-50 companies. The Fund has adopted a policy to concentrate its investments (invest at least 25% of its assets) in the securities of companies in the industrials and utilities industries. The Fund is classified as “non-diversified,” which means that it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.

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KBIWX - Performance

Return Ranking - Trailing

Period KBIWX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -12.2% 10.8% 42.99%
1 Yr 19.7% -25.5% 73.2% 15.09%
3 Yr 8.2%* -12.3% 27.6% 47.62%
5 Yr 11.2%* -3.1% 21.7% 38.00%
10 Yr N/A* -6.7% 12.5% N/A

* Annualized

Return Ranking - Calendar

Period KBIWX Return Category Return Low Category Return High Rank in Category (%)
2023 13.3% -13.1% 52.1% 15.09%
2022 -20.4% -34.9% 34.0% 85.71%
2021 5.9% -4.9% 83.5% 98.06%
2020 11.1% -23.4% 126.4% 56.44%
2019 20.9% -25.1% 36.9% 18.00%

Total Return Ranking - Trailing

Period KBIWX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -12.2% 10.8% 42.99%
1 Yr 19.7% -25.5% 73.2% 15.09%
3 Yr 8.2%* -12.3% 27.6% 47.62%
5 Yr 11.2%* -3.1% 21.7% 38.00%
10 Yr N/A* -6.7% 12.5% N/A

* Annualized

Total Return Ranking - Calendar

Period KBIWX Return Category Return Low Category Return High Rank in Category (%)
2023 19.5% -12.2% 57.6% 8.49%
2022 -14.3% -32.2% 35.5% 82.86%
2021 27.3% -2.5% 83.6% 44.66%
2020 13.5% -22.2% 127.8% 56.44%
2019 24.3% -25.1% 38.7% 14.00%

NAV & Total Return History


KBIWX - Holdings

Concentration Analysis

KBIWX Category Low Category High KBIWX % Rank
Net Assets 75.5 M 1.56 M 7.28 B 87.04%
Number of Holdings 48 23 445 54.63%
Net Assets in Top 10 28.6 M 627 K 3.57 B 88.89%
Weighting of Top 10 44.63% 16.6% 77.8% 49.07%

Top 10 Holdings

  1. VEOLIA ENVIRONNEMENT COMMON STOCK 6.16%
  2. XYLEM INC COMMON STOCK 5.94%
  3. ESSENTIAL UTILITIES INC COMMON STOCK 5.12%
  4. UNITED UTILITIES GROUP PLC COMMON STOCK 5.06%
  5. ROPER TECHNOLOGIES INC COMMON STOCK 4.07%
  6. AECOM COMMON STOCK 3.96%
  7. AMERICAN WATER WORKS CO INC COMMON STOCK 3.89%
  8. SEVERN TRENT PLC COMMON STOCK 3.62%
  9. HALMA PLC COMMON STOCK 3.47%
  10. IDEX CORP COMMON STOCK 3.33%

Asset Allocation

Weighting Return Low Return High KBIWX % Rank
Stocks
96.71% 0.00% 104.40% 78.70%
Cash
3.29% 0.00% 24.88% 28.70%
Preferred Stocks
0.00% 0.00% 7.55% 61.11%
Other
0.00% -0.01% 22.94% 62.96%
Convertible Bonds
0.00% 0.00% 0.43% 58.33%
Bonds
0.00% 0.00% 77.23% 60.19%

Stock Sector Breakdown

Weighting Return Low Return High KBIWX % Rank
Industrials
56.30% 0.00% 63.67% 10.19%
Utilities
26.93% 0.00% 35.93% 5.56%
Healthcare
6.81% 0.00% 22.67% 9.26%
Consumer Cyclical
5.43% 0.00% 43.37% 22.22%
Basic Materials
4.53% 2.49% 100.00% 93.52%
Technology
0.00% 0.00% 17.68% 73.15%
Real Estate
0.00% 0.00% 36.20% 66.67%
Financial Services
0.00% 0.00% 4.52% 59.26%
Energy
0.00% 0.00% 89.67% 85.19%
Communication Services
0.00% 0.00% 0.21% 55.56%
Consumer Defense
0.00% 0.00% 33.96% 76.85%

Stock Geographic Breakdown

Weighting Return Low Return High KBIWX % Rank
US
53.84% 0.00% 104.40% 65.74%
Non US
42.87% 0.00% 88.44% 29.63%

KBIWX - Expenses

Operational Fees

KBIWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.35% 0.08% 4.45% 30.56%
Management Fee 0.85% 0.00% 1.25% 75.93%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 0.25% N/A

Sales Fees

KBIWX 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% 1.00% N/A

Trading Fees

KBIWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 2.00% 2.00% 100.00%

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.

KBIWX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 4.00% 169.00% 30.77%

KBIWX - Distributions

Dividend Yield Analysis

KBIWX Category Low Category High KBIWX % Rank
Dividend Yield 1.27% 0.00% 12.69% 12.96%

Dividend Distribution Analysis

KBIWX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Annual Annual

Net Income Ratio Analysis

KBIWX Category Low Category High KBIWX % Rank
Net Income Ratio 2.37% -35.65% 6.21% 18.69%

Capital Gain Distribution Analysis

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

Distributions History

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KBIWX - Fund Manager Analysis

Managers

Matthew Sheldon


Start Date

Tenure

Tenure Rank

Sep 26, 2018

3.68

3.7%

Matt is a senior portfolio manager on the Natural Resources equity team and is responsible for the development of investment strategy as well as the day-to-day management of the Water Strategy and the Global Resource Solutions Strategy. Matt joined the team in April 2011. He has extensive specialist knowledge and experience in investing in the water sector, including both global public listed equities and private equity. Prior to joining the firm, Matt worked at Water Asset Management where he was an Investment Analyst and at Wedge Capital Management where he was an Equity Analyst.

Noel O'Halloran


Start Date

Tenure

Tenure Rank

Sep 26, 2018

3.68

3.7%

Noel joined the firm in 1992, was promoted to Head of Equities in 1996 and was appointed CIO in 2002. As CIO, he has overall responsibility for investment process and performance of the firm’s assets under management across the various asset classes and specialist equity portfolios. The firms team of investment professionals report to Noel. He has specifically managed equity portfolios across Irish, European, Asian & US equity markets. Prior to joining the firm, Noel worked for Irish Life Investment Managers as a US Equity Asset Manager.

Martin Conroy


Start Date

Tenure

Tenure Rank

Sep 26, 2018

3.68

3.7%

Martin is a portfolio manager on the Natural Resources equity team and is responsible for the development of investment strategy as well as the day to day management of the Water strategy. Martin is also a co-PM of the Global Sustainable Infrastructure strategy. Martin joined the Asset Management team in November 2014 as an Investment Analyst and assumed the role of Portfolio Manager in January 2020. Previously he worked in the Portfolio Structuring unit since joining the firm in 2004, where he undertook trade allocations, FX trading & cash management of portfolios.

Catherine Cahill


Start Date

Tenure

Tenure Rank

Sep 26, 2018

3.68

3.7%

Catherine is a senior portfolio manager on the Natural Resource equity team and is responsible for the development of investment strategy as well as day to day management of the Water strategy. She joined the Natural Resource team in October 2009 and has been at the firm since 2008 when she joined to manage the firm’s Irish equity portfolios. She has 21 years of investment management experience.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.16 24.18 7.69 0.16