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Trending ETFs

Name

As of 05/17/2024

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

$13.43

$688 M

0.00%

1.29%

Vitals

YTD Return

13.1%

1 yr return

32.6%

3 Yr Avg Return

7.6%

5 Yr Avg Return

10.6%

Net Assets

$688 M

Holdings in Top 10

32.7%

52 WEEK LOW AND HIGH

$13.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.29%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 80.00%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/17/2024

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

$13.43

$688 M

0.00%

1.29%

CEMFX - Profile

Distributions

  • YTD Total Return 13.1%
  • 3 Yr Annualized Total Return 7.6%
  • 5 Yr Annualized Total Return 10.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.98%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Cullen Emerging Markets High Dividend Fund
  • Fund Family Name
    Cullen Funds Trust
  • Inception Date
    Aug 31, 2012
  • Shares Outstanding
    30583733
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Rahul Sharma

Fund Description

The Emerging Markets High Dividend Fund invests, under normal circumstances, at least 80% of its net assets, plus borrowings for investment purposes, in high-dividend paying securities of companies across all capitalizations that are organized in, maintain at least 50% of their assets in, or derive at least 50% of their revenues from, emerging market countries. As a point of comparison, a high dividend paying common stock that the Emerging Markets High Dividend Fund would invest in would generally have a dividend yield greater than the average dividend yield of the equity securities in the MSCI Emerging Markets Index.

An emerging market country is any country that has been determined by an international organization, such as the World Bank, to have a relatively low to middle income economy. In selecting stocks, the Emerging Markets High Dividend Fund’s portfolio managers select companies that have growth potential, focusing on companies across all capitalizations. The Fund’s holdings may include issues denominated in currencies of emerging countries, investment companies (like country funds) which invest in emerging countries, American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”), Global Depositary Receipts (“GDRs”) and other similar instruments (ADRs, EDRs and GDRs are hereinafter collectively referred to as “depositary receipts”), and similar types of investments representing emerging markets securities. Depositary receipts may be purchased through “sponsored” or “unsponsored” facilities. A sponsored facility is established jointly by the issuer of the underlying security and a depositary, whereas a depositary may establish an unsponsored facility without participation by the issuer of the depositary security. Holders of unsponsored depositary receipts generally bear all the costs of such facilities and the depositary of an unsponsored facility frequently is under no obligation to distribute shareholder

communications received from the issuer of the deposited security or to pass through voting rights to the holders of such receipts.

The Emerging Markets High Dividend Fund intends to diversify its investments across different countries, and the percentage of the Emerging Markets High Dividend Fund’s assets invested in particular countries or regions will change from time to time based on the Adviser’s judgment. However, the Fund will not have more than 30% of its total assets invested as at the time of purchase in securities of any one country.

The Emerging Markets High Dividend Fund generally invests substantially all of its assets in common stocks and depositary receipts but can invest in other equity securities, which can include convertible debt, exchange-traded funds (“ETFs”) that invest primarily in equity securities, warrants, rights, equity interests in real estate investment trusts (“REITs”), equity interests in master limited partnerships (“MLPs”), and preferred stocks. The Emerging Markets High Dividend Fund invests roughly the same amount of its assets in each position in the portfolio at the time of original purchase, although the portfolio is not systematically rebalanced. This approach avoids the overweighting of any individual security being purchased. The Adviser may sell portfolio stocks when they are no longer attractive based on their growth potential, dividend yield or price.

As part of its strategy, the Emerging Markets High Dividend Fund, in order to generate additional income, may selectively write covered call options when it is deemed to be in the Fund’s best interest. A call option is a short-term contract entitling the purchaser, in return for a premium paid, the right to buy the underlying equity security at a specified price upon exercise of the option at any time prior to its expiration. Writing a covered call option allows the Emerging Markets High Dividend Fund to receive a premium. A call option gives the holder the right, but not the obligation, to buy the underlying equity stock from the writer of the option at a given price during a specific period.

The Emerging Markets High Dividend Fund will not engage in derivatives except to the extent that either (1) the writing of covered call options, and or (2) participatory notes, is deemed to involve derivatives.

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CEMFX - Performance

Return Ranking - Trailing

Period CEMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 13.1% -3.5% 20.9% 7.08%
1 Yr 32.6% -3.2% 37.2% 1.23%
3 Yr 7.6%* -18.7% 11.0% 0.72%
5 Yr 10.6%* -4.0% 13.5% 3.49%
10 Yr 5.4%* -2.6% 6.6% 9.80%

* Annualized

Return Ranking - Calendar

Period CEMFX Return Category Return Low Category Return High Rank in Category (%)
2023 20.3% -6.5% 35.5% 5.73%
2022 -17.1% -50.1% -2.4% 8.87%
2021 4.0% -33.1% 22.5% 11.61%
2020 5.8% -22.1% 80.1% 88.98%
2019 14.6% -0.7% 42.0% 76.89%

Total Return Ranking - Trailing

Period CEMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 13.1% -3.5% 20.9% 7.08%
1 Yr 32.6% -3.2% 37.2% 1.23%
3 Yr 7.6%* -18.7% 11.0% 0.72%
5 Yr 10.6%* -4.0% 13.5% 3.49%
10 Yr 5.4%* -2.6% 6.6% 9.80%

* Annualized

Total Return Ranking - Calendar

Period CEMFX Return Category Return Low Category Return High Rank in Category (%)
2023 26.4% -2.7% 42.0% 1.36%
2022 -13.0% -42.2% 1.9% 6.62%
2021 6.8% -32.5% 33.1% 15.77%
2020 8.7% -20.0% 81.6% 87.89%
2019 19.8% 2.3% 42.0% 57.30%

NAV & Total Return History


CEMFX - Holdings

Concentration Analysis

CEMFX Category Low Category High CEMFX % Rank
Net Assets 688 M 930 K 103 B 42.37%
Number of Holdings 62 10 7049 77.52%
Net Assets in Top 10 198 M 118 K 19.2 B 42.64%
Weighting of Top 10 32.66% 0.7% 140.4% 52.11%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co Ltd ADR 3.85%
  2. Prologis Property Mexico SA de CV 3.57%
  3. NHPC Ltd 3.37%
  4. REC Ltd 3.34%
  5. Samsung Electronics Co Ltd 3.27%
  6. Mytilineos SA 3.14%
  7. Power Grid Corp of India Ltd 3.11%
  8. ICICI Bank Ltd 3.06%
  9. ASE Technology Holding Co Ltd 2.98%
  10. Petroleo Brasileiro SA 2.98%

Asset Allocation

Weighting Return Low Return High CEMFX % Rank
Stocks
96.59% 0.00% 103.65% 54.90%
Preferred Stocks
2.47% 0.00% 10.09% 21.66%
Cash
0.94% -2.03% 99.29% 71.25%
Other
0.00% -0.39% 50.31% 62.26%
Convertible Bonds
0.00% 0.00% 7.40% 52.81%
Bonds
0.00% 0.00% 94.30% 58.45%

Stock Sector Breakdown

Weighting Return Low Return High CEMFX % Rank
Financial Services
22.42% 0.00% 48.86% 45.93%
Basic Materials
15.41% 0.00% 30.03% 2.76%
Technology
15.14% 0.00% 47.50% 88.14%
Consumer Defense
8.74% 0.00% 25.90% 22.07%
Consumer Cyclical
7.84% 0.00% 48.94% 90.90%
Communication Services
6.90% 0.00% 39.29% 73.38%
Energy
6.87% 0.00% 24.80% 16.14%
Industrials
6.45% 0.00% 43.53% 41.93%
Real Estate
5.54% 0.00% 17.15% 7.31%
Utilities
4.68% 0.00% 39.12% 7.86%
Healthcare
0.00% 0.00% 16.53% 98.90%

Stock Geographic Breakdown

Weighting Return Low Return High CEMFX % Rank
Non US
84.10% 0.00% 100.18% 53.68%
US
12.49% 0.00% 99.51% 41.01%

CEMFX - Expenses

Operational Fees

CEMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.29% 0.03% 29.98% 52.80%
Management Fee 1.00% 0.00% 2.00% 78.99%
12b-1 Fee 0.00% 0.00% 1.00% 5.71%
Administrative Fee N/A 0.01% 0.85% N/A

Sales Fees

CEMFX 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% 5.00% N/A

Trading Fees

CEMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 46.67%

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.

CEMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 80.00% 0.00% 189.00% 77.87%

CEMFX - Distributions

Dividend Yield Analysis

CEMFX Category Low Category High CEMFX % Rank
Dividend Yield 0.00% 0.00% 9.74% 9.54%

Dividend Distribution Analysis

CEMFX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

CEMFX Category Low Category High CEMFX % Rank
Net Income Ratio 2.98% -1.98% 17.62% 6.65%

Capital Gain Distribution Analysis

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

Distributions History

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CEMFX - Fund Manager Analysis

Managers

Rahul Sharma


Start Date

Tenure

Tenure Rank

Aug 31, 2012

9.75

9.8%

Rahul Sharma serves as a Co - Portfolio Manager on the Global High Dividend ADR strategy and all the firm's other Global and International strategies. Mr. Sharma has been in the investment business for over 15 years. He joined Schafer Cullen in 1999 as a research analyst and moved into portfolio management for the International, Emerging, and Global Equity strategies in 2001. Prior to joining Schafer Cullen, he worked in small business management. Mr. Sharma received his B.A. in Mathematics from the College of William and Mary in 1994.

James Cullen


Start Date

Tenure

Tenure Rank

Aug 31, 2012

9.75

9.8%

Jim Cullen founded Schafer Cullen Capital Management in 1983 and has served as the CEO and Portfolio Manager since its formation in 1983. His experience in the investment business spans over 50 years. Prior to founding the Firm, Mr. Cullen was a Vice President at Donaldson, Lufkin & Jenrette. Previously to Donaldson, Mr. Cullen co-managed the New York Research, which specialized in low P/E research. He began his career at Merrill Lynch in 1965 and later worked for the research firm Spencer Trask & Company. Mr. Cullen spent four years as a Navy Officer on the aircraft carrier USS Essex after receiving a B.S. in finance from Seton Hall University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 33.71 6.52 13.42