Cromwell Tran Sustainable Focus Fund
Fund
LIMAX
Price as of:
$7.21
+ $0.04
+ 0.56%
Primary Theme
fund company
Name
As of 01/17/2025Price
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
Vitals
YTD Return
3.6%
1 yr return
17.8%
3 Yr Avg Return
2.2%
5 Yr Avg Return
8.6%
Net Assets
$31.1 M
Holdings in Top 10
55.2%
52 WEEK LOW AND HIGH
$7.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.87%
SALES FEES
Front Load 5.00%
Deferred Load N/A
TRADING FEES
Turnover 66.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$5,000
IRA
$2,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 01/17/2025Price
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
LIMAX - Profile
Distributions
- YTD Total Return 3.6%
- 3 Yr Annualized Total Return 2.2%
- 5 Yr Annualized Total Return 8.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.56%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameCromwell Tran Sustainable Focus Fund
-
Fund Family NameLateef
-
Inception DateSep 06, 2007
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerQuoc Tran
Fund Description
To achieve the Fund’s investment objective, Tran Capital Management, L.P., the investment sub-adviser (the “Tran Sub-Adviser” or “Sub-Adviser”) normally invests in the common stocks of approximately 15 to 25 mid- and large-cap companies with market capitalizations greater than $2 billion that have, in the Tran Sub-Adviser’s opinion, a competitive advantage. The Sub-Adviser uses an intensive fundamental due diligence research process to attempt to identify companies with owner-oriented management teams that, in the view of the Sub-Adviser, generate consistently high returns on capital. Additionally, the companies in which the Fund invests will, in the opinion of the Sub-Adviser, possess high margins, strong cash flow, zero-to-moderate debt and trade at a price below intrinsic value.
Under normal market conditions, the Fund will invest at least 80% of its assets in sustainable equity securities. For this purpose, the Sub-Adviser defines sustainable securities as those that score 3 or higher on its internal 5-point ESG scale based on the evaluation of factors described below. In ranking a company’s ESG criteria, the Sub-Adviser considers both the external impact of a company’s product or service and the company’s internal policies, controls, and interactions with shareholders, employees, and other stakeholders. External and internal factors are weighted equally. The Sub-Adviser does not employ negative screening and will consider all companies in all industries for the portfolio.
Through its investment process, the Sub-Adviser seeks to build an understanding of the competitive advantages, financial drivers, and key risks and uncertainties related to an investment under consideration. The Sub-Adviser believes that its “ESG” framework (as further described below) can aid in identifying sustainable franchises and may, in its view, better position the Fund to perform over the long term and through market cycles. The Sub-Adviser’s internally-developed ESG framework considers environmental, social, and governance risks and value-creation opportunities. The Sub-Adviser obtains information related to the application of its ESG framework through the Sub-Adviser’s own research and analysis of publicly available information, including information related to a company’s existing policies and actions related to social responsibility, as determined by the Sub-Adviser’s ESG framework. The Sub-Adviser also obtains data and information which is incorporated into its ESG framework through direct engagement with management teams of the Fund’s portfolio companies or potential portfolio companies.
The Sub-Adviser takes a qualitative approach to ESG integration. By assessing a security’s positive, neutral, or negative impact on these internal and external ESG issues, the Sub-Adviser aims to identify value-creating opportunities and avoid value-destructing risk. To the extent that the Sub-Adviser has strong data, evidence, and ability to estimate the materiality of ESG risks and opportunities, financial
models and valuation analysis may be adjusted to incorporate material factors. The Sub-Adviser weights its internal rating for a security’s acceptability under each ESG factor to make a decision.
External factors considered include, but are not limited to:
•a company’s contribution to climate change and goals for reaching net zero
•impact on natural resources
•promotion of clean, renewable, and green activities
•product safety and responsibility
•interaction with the communities served by the company
•promotion of access to information, healthcare, financing, etc.
•strength of ESG reporting and quality of disclosures and transparency
Internal factors considered include, but are not limited to:
•policies and actions that promote sustainability
•footprint of corporate facilities
•treatment of employees
•diversity & inclusion measures along with goals or policies for improvement
•having and enabling a culture of feedback
•diverse representation on the Board of Directors and executive team
•management alignment with shareholders
•strong checks and balances
The Fund is non-diversified, which means that a significant portion of the Fund’s assets may be invested in the securities of a single or small number of companies and/or in a more limited number of sectors than a diversified mutual fund. Although the Fund may not invest 25% or more of its net assets in one or more industries, the Fund may focus its investments from time to time in one or more sectors of the economy or stock market.
The Sub-Adviser chooses to sell securities from the portfolio when the fundamentals of the company are deteriorating or when the Sub-Adviser identifies better opportunities. When considering better opportunities, securities that may score poorly with respect to such factors may be purchased and retained by the Fund while the Fund may sell or not invest in securities that may score strongly on such factors because the Sub-Adviser considers the poor ESG security to be a better value. Securities in the Fund’s portfolio that score poorly (i.e., 2 or less on the Sub-Adviser’s 5-point scale) with respect to the ESG factors described above will not be counted towards the Fund’s 80% policy.
LIMAX - Performance
Return Ranking - Trailing
| Period | LIMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.6% | -2.8% | 9.9% | 9.82% |
| 1 Yr | 17.8% | -7.7% | 64.6% | 88.82% |
| 3 Yr | 2.2%* | -23.8% | 29.1% | 99.35% |
| 5 Yr | 8.6%* | -15.8% | 28.6% | 95.73% |
| 10 Yr | 9.8%* | -5.4% | 22.2% | 94.66% |
* Annualized
Return Ranking - Calendar
| Period | LIMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | 14.9% | -74.1% | 52.3% | 66.03% |
| 2023 | 25.7% | -57.3% | 72.4% | 71.96% |
| 2022 | -42.3% | -85.9% | 4.7% | 88.03% |
| 2021 | 2.0% | -52.4% | 60.5% | 70.13% |
| 2020 | 12.5% | -34.3% | 145.0% | 91.84% |
Total Return Ranking - Trailing
| Period | LIMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.6% | -2.8% | 9.9% | 9.82% |
| 1 Yr | 17.8% | -7.7% | 64.6% | 88.82% |
| 3 Yr | 2.2%* | -23.8% | 29.1% | 99.35% |
| 5 Yr | 8.6%* | -15.8% | 28.6% | 95.73% |
| 10 Yr | 9.8%* | -5.4% | 22.2% | 94.66% |
* Annualized
Total Return Ranking - Calendar
| Period | LIMAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | 15.0% | -6.4% | 52.3% | 92.46% |
| 2023 | 25.7% | -31.9% | 72.4% | 84.38% |
| 2022 | -35.3% | -61.7% | 23.1% | 78.94% |
| 2021 | 24.9% | -39.8% | 118.1% | 29.40% |
| 2020 | 29.3% | 2.8% | 149.2% | 73.69% |
NAV & Total Return History
LIMAX - Holdings
Concentration Analysis
| LIMAX | Category Low | Category High | LIMAX % Rank | |
|---|---|---|---|---|
| Net Assets | 31.1 M | 296 K | 317 B | 95.92% |
| Number of Holdings | 30 | 2 | 3061 | 91.28% |
| Net Assets in Top 10 | 17.4 M | 126 K | 150 B | 95.46% |
| Weighting of Top 10 | 55.21% | 0.7% | 205.0% | 41.99% |
Top 10 Holdings
- Microsoft Corp 7.84%
- Amazon.com Inc 6.35%
- Talen Energy Corp 6.25%
- Danaher Corp 6.21%
- NVIDIA Corp 5.86%
- Meta Platforms Inc 4.91%
- Taiwan Semiconductor Manufacturing Co Ltd 4.81%
- T-Mobile US Inc 4.60%
- Ferguson Enterprises Inc 4.36%
- Entegris Inc 4.03%
Asset Allocation
| Weighting | Return Low | Return High | LIMAX % Rank | |
|---|---|---|---|---|
| Stocks | 99.52% | 0.00% | 123.52% | 28.97% |
| Cash | 0.57% | 0.00% | 173.52% | 61.04% |
| Preferred Stocks | 0.00% | 0.00% | 8.45% | 80.20% |
| Other | 0.00% | -36.56% | 42.58% | 82.74% |
| Convertible Bonds | 0.00% | 0.00% | 1.94% | 77.25% |
| Bonds | 0.00% | 0.00% | 102.71% | 77.84% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | LIMAX % Rank | |
|---|---|---|---|---|
| Technology | 29.86% | 0.00% | 65.70% | 70.34% |
| Healthcare | 16.10% | 0.00% | 39.76% | 19.65% |
| Consumer Cyclical | 14.67% | 0.00% | 62.57% | 58.60% |
| Financial Services | 12.65% | 0.00% | 43.06% | 23.93% |
| Basic Materials | 8.80% | 0.00% | 18.91% | 2.27% |
| Communication Services | 8.55% | 0.00% | 66.40% | 70.52% |
| Industrials | 7.26% | 0.00% | 30.65% | 36.67% |
| Energy | 2.12% | 0.00% | 41.09% | 26.57% |
| Utilities | 0.00% | 0.00% | 16.07% | 82.44% |
| Real Estate | 0.00% | 0.00% | 16.05% | 92.08% |
| Consumer Defense | 0.00% | 0.00% | 25.50% | 96.27% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | LIMAX % Rank | |
|---|---|---|---|---|
| US | 99.52% | 0.00% | 123.52% | 21.07% |
| Non US | 0.00% | 0.00% | 75.46% | 84.29% |
LIMAX - Expenses
Operational Fees
| LIMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.87% | 0.01% | 28.71% | 9.85% |
| Management Fee | 0.85% | 0.00% | 1.50% | 90.67% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 52.83% |
| Administrative Fee | N/A | 0.01% | 1.02% | N/A |
Sales Fees
| LIMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.00% | 2.25% | 8.50% | 82.35% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| LIMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | 2.00% | 1.00% | 2.00% | 32.61% |
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.
| LIMAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 66.00% | 0.00% | 316.74% | 76.03% |
LIMAX - Distributions
Dividend Yield Analysis
| LIMAX | Category Low | Category High | LIMAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 27.58% | 86.09% |
Dividend Distribution Analysis
| LIMAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
| LIMAX | Category Low | Category High | LIMAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.56% | -6.13% | 3.48% | 68.52% |
Capital Gain Distribution Analysis
| LIMAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 05, 2024 | $0.010 | CapitalGainLongTerm |
| Dec 06, 2022 | $0.604 | CapitalGainLongTerm |
| Dec 08, 2021 | $1.888 | OrdinaryDividend |
| Dec 03, 2020 | $1.162 | CapitalGainLongTerm |
| Dec 05, 2019 | $1.234 | CapitalGainLongTerm |
| Dec 07, 2018 | $1.639 | CapitalGainLongTerm |
| Dec 07, 2017 | $2.298 | CapitalGainLongTerm |
| Dec 08, 2016 | $2.441 | CapitalGainLongTerm |
| Dec 09, 2015 | $0.024 | CapitalGainShortTerm |
| Dec 09, 2015 | $2.946 | CapitalGainLongTerm |
| Dec 09, 2015 | $0.020 | OrdinaryDividend |
| Dec 09, 2014 | $0.054 | CapitalGainShortTerm |
| Dec 09, 2014 | $1.056 | CapitalGainLongTerm |
| Dec 09, 2014 | $0.015 | OrdinaryDividend |
| Dec 10, 2013 | $0.012 | CapitalGainShortTerm |
| Dec 10, 2013 | $0.681 | CapitalGainLongTerm |
| Dec 10, 2013 | $0.005 | OrdinaryDividend |
| Dec 06, 2012 | $0.021 | OrdinaryDividend |
| Dec 06, 2012 | $0.490 | CapitalGainLongTerm |
LIMAX - Fund Manager Analysis
Managers
Quoc Tran
Start Date
Tenure
Tenure Rank
Sep 06, 2007
14.74
14.7%
Quoc Tran, MBA — Chief Investment Officer, Portfolio Manager and Managing Partner, joined Lateef Investment Management LP in 2005 and led a management buyout of the firm in 2017. In 2002, Quoc joined Wallace R. Weitz & Co. and held various positions in portfolio management and research. Prior to that, he spent five years at Goldman Sachs and Co. as an institutional sales professional, and left the company as Vice President and Director in the Equities Division. Mr. Tran is a member of the Board of Trustees of Bates College and serves on various committees, including the Bates College Investment Committee where he is Chair of Equities. Mr. Tran received a B.A. degree with high honors in Rhetoric from Bates College and his MBA in Finance and Competitive Strategy at the University of Chicago where he was also a Business Fellow.
Michael Im
Start Date
Tenure
Tenure Rank
Sep 01, 2020
1.75
1.8%
Michael Im, CFA, MBA, Vice President, Associate Portfolio Manager and Senior Research Analyst, joined Lateef in 2013. Prior to Lateef, Mike was an Analyst at Kiitos Capital Management and was an Equity Research Associate at Dodge & Cox. Mike received a B.S. degree, with high honors, in Business Administration from the University of California, Berkeley (Phi Beta Kappa) and an MBA, with honors, from the University of Chicago, Booth School of Business. Mike is a CFA Charterholder and a member of the CFA Society of San Francisco.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 54.45 | 8.24 | 3.08 |