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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

$10.49

$10.2 M

2.44%

$0.26

2.03%

Vitals

YTD Return

4.9%

1 yr return

2.5%

3 Yr Avg Return

-2.3%

5 Yr Avg Return

0.8%

Net Assets

$10.2 M

Holdings in Top 10

39.4%

52 WEEK LOW AND HIGH

$10.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.03%

SALES FEES

Front Load 5.00%

Deferred Load N/A

TRADING FEES

Turnover 30.37%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


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

$10.49

$10.2 M

2.44%

$0.26

2.03%

CSIAX - Profile

Distributions

  • YTD Total Return 4.9%
  • 3 Yr Annualized Total Return -2.3%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.35%
DIVIDENDS
  • Dividend Yield 2.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Centerstone International Fund
  • Fund Family Name
    Centerstone Investors
  • Inception Date
    May 03, 2016
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Abhay Deshpande

Fund Description

To achieve its objective of long-term capital growth, normally, the International Fund invests at least 60% of its net assets in foreign (non-U.S.) equity securities. Equity securities are selected based on their price versus value, business quality and balance sheet strength, among other factors. The International Fund also may invest up to 40% of its total assets in debt instruments (including those of foreign issuers). The International Fund may also invest in cash and cash equivalents. The International Fund may generally invest in the following fixed income securities: notes, bills and debentures, bank debt obligations, high-yield debt securities rated below investment grade, convertible securities, Rule 144A securities (Rule 144A securities are restricted securities that can be resold to qualified institutional buyers but not to the general public); and securities issued by international government or quasi-government organizations and sovereign debt securities. The International Fund may invest in debt securities generally without regard to their credit rating or time to maturity. The International Fund may invest up to 20% of its total assets in lower-rated or defaulted debt securities (including so-called “junk bonds”), corporate debt, comparable unrated debt securities, or other indebtedness (or participations in the indebtedness) of such companies. In selecting debt securities to achieve the International Fund’s investment objective, the Adviser considers the likelihood of default and the potential for capital appreciation. The International Fund may also invest up to 10% of its total assets in precious metals such as gold or silver, or in instruments related to such precious metals such as commodity contracts, options on such contracts, structured notes and ETFs. The International Fund may invest in the foregoing securities or assets directly or gain exposure to such securities or assets indirectly by investing in ETFs or other investment companies.

The International Fund particularly seeks companies that have financial strength and stability, strong management and fundamental or intrinsic value. “Intrinsic value” is based on our judgment of what a prudent and rational business buyer would pay in cash for a company in normal markets. The Adviser follows a bottom-up oriented long-term investment philosophy. The International Fund identifies investment opportunities through intensive research of individual companies and generally does not focus or rely on current stock market conditions and other macro factors when assessing potential investment opportunities. The International Fund focuses its investments in areas where the Adviser finds the most compelling opportunities at any given moment and on situations that, in the Adviser’s opinion, have the potential for capital appreciation. The investment philosophy and strategy of the International Fund seeks a “margin of safety” in investments, i.e., where the market price of an investment is below its fundamental value, with the goal being to avoid permanent impairment of capital (as opposed to temporary losses in share value relating to shifting investor sentiment or other normal share price volatility). In particular, a discount to “intrinsic value” is sought even for the best of businesses, with a deeper discount demanded for companies that the Adviser views as under business model, balance sheet, management or other stresses. For these reasons, the International Fund may seek investments in the equity securities of companies in industries that are believed to be temporarily depressed. 

Investment decisions for the International Fund are made without regard to the capitalization (size) of the companies in which it invests. The International Fund may invest in any size company.

The International Fund invests primarily in equity securities of companies traded in mature markets (markets that already have a number of established companies, for example, Japan, Germany and France) and may invest in countries whose economies are still developing (sometimes called “emerging markets”). The International Fund intends to invest its assets in investments that are tied economically to a number of countries throughout the world. Under normal circumstances, the Fund invests in issuers located in at least three different countries (not including the U.S. although the Fund may also invest in U.S. issuers).

The International Fund may invest a portion of its assets in derivative instruments. These include forward contracts and futures contracts. The International Fund may invest in derivatives primarily to seek to hedge exposure to certain markets and securities and/or for non-hedging speculative that seek to take maximum advantage of market fluctuations. The International Fund may seek to hedge its exposure to foreign currencies, typically through the use of foreign currency derivatives, including currency forward contracts and may engage in currency transactions with counterparties to gain or reduce exposure to certain currencies or to generate income or gains.

The International Fund may also engage in securities lending to generate income.

The Adviser considers selling a security when it determines that such security no longer offers fundamental value or financial strength and stability.

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CSIAX - Performance

Return Ranking - Trailing

Period CSIAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% -0.9% 34.5% 93.07%
1 Yr 2.5% -1.8% 25.5% 99.70%
3 Yr -2.3%* -14.7% 47.1% 97.50%
5 Yr 0.8%* -34.2% 77.2% 99.66%
10 Yr N/A* -0.1% 16.6% N/A

* Annualized

Return Ranking - Calendar

Period CSIAX Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -7.3% 22.0% 96.97%
2022 -11.3% -43.6% 71.3% 5.08%
2021 2.4% -28.5% 18.9% 68.50%
2020 -6.3% -90.1% 992.1% 98.38%
2019 11.3% -1.9% 38.8% 96.40%

Total Return Ranking - Trailing

Period CSIAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% -0.9% 34.5% 93.07%
1 Yr 2.5% -1.8% 25.5% 99.70%
3 Yr -2.3%* -14.7% 47.1% 97.50%
5 Yr 0.8%* -34.2% 77.2% 99.66%
10 Yr N/A* -0.1% 16.6% N/A

* Annualized

Total Return Ranking - Calendar

Period CSIAX Return Category Return Low Category Return High Rank in Category (%)
2023 6.4% 3.2% 41.4% 98.18%
2022 -10.4% -43.6% 144.8% 9.55%
2021 4.5% -22.6% 56.0% 93.07%
2020 -5.9% -89.7% 1010.8% 99.51%
2019 13.3% 4.3% 38.8% 99.14%

NAV & Total Return History


CSIAX - Holdings

Concentration Analysis

CSIAX Category Low Category High CSIAX % Rank
Net Assets 10.2 M 2.56 M 425 B 95.78%
Number of Holdings 45 1 10801 86.38%
Net Assets in Top 10 4.03 M 0 41 B 94.86%
Weighting of Top 10 39.39% 2.7% 112.8% 12.52%

Top 10 Holdings

  1. SS-INS TR PL-TRS 7.53%
  2. SAN PEDRO (VINA) 5.20%
  3. AIR LIQUIDE SA 3.82%
  4. NESTLE SA-REG 3.68%
  5. RYANAIR HLDGS 3.30%
  6. OCBC BANK 3.23%
  7. TC ENERGY CORP 3.19%
  8. Barry Callebaut AG 3.16%
  9. SOFTWAREONE HOLD 3.16%
  10. SODEXO SA 3.11%

Asset Allocation

Weighting Return Low Return High CSIAX % Rank
Stocks
84.80% 0.00% 122.60% 95.46%
Cash
11.26% -22.43% 100.00% 1.82%
Preferred Stocks
3.94% -0.01% 7.80% 1.82%
Other
0.00% -2.05% 43.01% 54.61%
Convertible Bonds
0.00% 0.00% 4.18% 9.56%
Bonds
0.00% -0.92% 71.30% 18.31%

Stock Sector Breakdown

Weighting Return Low Return High CSIAX % Rank
Industrials
38.82% 5.17% 99.49% 0.31%
Basic Materials
18.51% 0.00% 23.86% 1.24%
Communication Services
8.83% 0.00% 21.69% 13.95%
Energy
8.31% 0.00% 16.89% 5.89%
Consumer Cyclical
8.06% 0.00% 36.36% 79.38%
Consumer Defense
7.61% 0.00% 32.29% 80.47%
Financial Services
4.87% 0.00% 47.75% 97.98%
Healthcare
4.24% 0.00% 21.01% 97.05%
Technology
0.75% 0.00% 36.32% 99.38%
Utilities
0.00% 0.00% 13.68% 85.89%
Real Estate
0.00% 0.00% 14.59% 77.05%

Stock Geographic Breakdown

Weighting Return Low Return High CSIAX % Rank
Non US
83.13% 0.00% 121.07% 75.79%
US
1.67% 0.00% 103.55% 73.07%

CSIAX - Expenses

Operational Fees

CSIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.03% 0.01% 19.62% 9.70%
Management Fee 0.90% 0.00% 1.65% 94.24%
12b-1 Fee 0.25% 0.00% 1.00% 24.32%
Administrative Fee N/A 0.01% 1.00% N/A

Sales Fees

CSIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.00% 3.50% 5.75% 77.38%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

CSIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 5.26%

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.

CSIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 30.37% 2.00% 247.00% 44.05%

CSIAX - Distributions

Dividend Yield Analysis

CSIAX Category Low Category High CSIAX % Rank
Dividend Yield 2.44% 0.00% 25.02% 37.95%

Dividend Distribution Analysis

CSIAX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Quarterly Annual

Net Income Ratio Analysis

CSIAX Category Low Category High CSIAX % Rank
Net Income Ratio 1.35% -0.93% 6.38% 57.36%

Capital Gain Distribution Analysis

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

Distributions History

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CSIAX - Fund Manager Analysis

Managers

Abhay Deshpande


Start Date

Tenure

Tenure Rank

May 03, 2016

6.08

6.1%

Abhay Deshpande founded Centerstone Investors and serves as the Chief Investment Officer. He has many years of experience researching and investing in businesses globally. Prior to establishing Centerstone, Mr. Deshpande was a Portfolio Manager at First Eagle Investment Management, advisor to the Global and Overseas strategies that comprised the vast majority of the firm’s billions in assets under management. During his 15-year tenure, his responsibilities included hiring and training analysts along with leading the research team during times of market turbulence. He spearheaded the research efforts during both the 2001 technology and 2008 credit crises, and in both cases his direct efforts helped clients minimize losses, and ultimately thrive, during his career at First Eagle. Previously, Mr. Deshpande was a Research Analyst with Harris Associates and International and Global products. He also was an Analyst for Morningstar responsible for following a variety of International mutual funds. He began his career at a boutique investment advisor in Louisville, KY. Mr. Deshpande holds a BS in Finance from the University of Louisville. He is a CFA Charterholder and a member of the New York Society of Security Analysts.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.35 6.34 13.67