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Name

As of 06/02/2026

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

iMGP International Fund

MSILX | Fund

$24.19

$123 M

1.43%

$0.34

1.25%

Vitals

YTD Return

9.0%

1 yr return

22.6%

3 Yr Avg Return

13.6%

5 Yr Avg Return

5.2%

Net Assets

$123 M

Holdings in Top 10

28.9%

52 WEEK LOW AND HIGH

$24.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.25%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 99.91%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$10,000

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/02/2026

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

iMGP International Fund

MSILX | Fund

$24.19

$123 M

1.43%

$0.34

1.25%

MSILX - Profile

Distributions

  • YTD Total Return 9.0%
  • 3 Yr Annualized Total Return 13.6%
  • 5 Yr Annualized Total Return 5.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.63%
DIVIDENDS
  • Dividend Yield 1.4%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    iMGP International Fund
  • Fund Family Name
    IMGP Funds
  • Inception Date
    Dec 05, 1997
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Herro

Fund Description

div style="margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;"The International Fund invests in the securities of companies that the sub‑advisors to the International Fund (each, a “manager” or “sub‑advisor”) believe have strong appreciation potential. The Advisor believes that giving highly disciplined managers latitude in the types of stocks they can own can confer an advantage over managers who are more tightly constrained to an arbitrary “style box.” This belief underlays the premise of the International Fund to seek skilled managers, give them broad flexibility, limit them to their highest-conviction ideas and create diversification at the overall fund level by choosing managers with complementary styles, which the Advisor believes also should reduce risk. The Advisor is responsible for recommending which sub‑advisors to hire or remove. Before hiring a sub‑advisor, the Advisor performs extensive due diligence. This includes quantitative and qualitative analysis, including (but not limited to) an evaluation of the investment process, the consistency of its execution and discipline; individual holdings; strategies employed, past mistakes, risk controls, team depth and quality; operations and compliance; and business focus and vision. The Advisor’s evaluation process includes review of literature and documents, quantitative historical performance evaluation, extensive discussions with members of the investment team and firm management and background checks through industry contacts./div div style="margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;"There is no minimum or maximum allocation of the International Fund’s portfolio assets to each sub‑advisor. The Advisor is responsible for establishing the target allocation of International Fund assets to each manager based on the Advisor’s goal of maintaining a balance of investment styles (growth, value, and blend) and market capitalization exposure (large‑cap, mid‑cap and small‑cap companies) and may adjust the target allocations at its discretion. Market performance may result in allocation drift among the managers of the International Fund. The Advisor is responsible for periodically rebalancing the portfolios, the timing and degree of which will be determined by the Advisor based on the amount of deviation from pre‑established target allocation ranges and the Advisor’s assessment of market conditions and investment opportunities available to each sub‑advisor. The Advisor monitors the individual portfolios managed by the sub‑advisors to ensure that the overall portfolio does not include any unintentional over-weights to market capitalization levels, sectors, industries or individual securities. Under normal conditions, each sub‑advisor manages a portion of the International Fund’s assets by independently managing a focused portfolio (resulting in total International Fund holdings of 40 to 80 different stocks)./div div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;"Under normal market conditions, the International Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the securities of companies organized or located outside of the United States, including large-, mid‑, and small-capitalization companies, as measured by market capitalization at the time of acquisition, and companies located in emerging markets. iM Global defines an emerging market country as any country that is included in the MSCI Emerging Markets Index. An emerging market country includes any country that is included in the MSCI Emerging Markets Index, considered to be an emerging market country by the World Bank, the International Finance Corporation, or the United Nations, or other countries or markets that the Sub‑Advisor identifies as having similar emerging markets characteristics. The International Fund ordinarily invests in the securities markets of at least five countries outside of the United States. The International Fund may focus its investments in certain sectors – including, but not limited to, the technology and financial sectors – from time to time as a result of the implementation of the International Fund’s investment strategy by the sub‑advisors, but sector focus is not a principal strategy of the International Fund./div div style="margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;"Each sub‑advisor uses its own discretion to invest in any sized company it deems appropriate. The managers have limited/div div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;"flexibility to invest in the securities of U.S. companies. By executing its investment strategy, the International Fund seeks to:/div table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; border-spacing: 0px; width: 100%;" tr style="page-break-inside: avoid;" td style="width: 6.75pt; vertical-align: top; text-align: left;"•/td td style="width: 0.75pt; vertical-align: top;" /td td style="vertical-align: top; text-align: left;"combine the efforts of several experienced, high quality international managers;/td /tr /table table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; border-spacing: 0px; width: 100%;" tr style="page-break-inside: avoid;" td style="width: 6.75pt; vertical-align: top; text-align: left;"•/td td style="width: 0.75pt; vertical-align: top;" /td td style="vertical-align: top; text-align: left;"access the highest conviction stock-picking ideas of each manager at any point in time;/td /tr /table table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; border-spacing: 0px; width: 100%;" tr style="page-break-inside: avoid;" td style="width: 6.75pt; vertical-align: top; text-align: left;"•/td td style="width: 0.75pt; vertical-align: top;" /td td style="vertical-align: top; text-align: left;"deliver a portfolio that is prudently diversified in terms of stocks (typically 40 to 80) and industries while still allowing each manager to run portfolio segments focused on only its highest conviction stocks; and/td /tr /table table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 9pt; border-spacing: 0px; width: 100%;" tr style="page-break-inside: avoid;" td style="width: 6.75pt; vertical-align: top; text-align: left;"•/td td style="width: 0.75pt; vertical-align: top;" /td td style="vertical-align: top; text-align: left;"further diversify across different sized companies, countries, and stock-picking styles by including managers with a variety of stock-picking disciplines./td /tr /table div style="margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt; font-family: arial;"Generally, a security may be sold: (1) if the manager believes the security’s market price exceeds the manager’s estimate of intrinsic value; (2) if the manager’s view of the business fundamentals or management of the underlying company changes; (3) if a more attractive investment opportunity is found; (4) if general market conditions trigger a change in the manager’s assessment criteria; or (5) for other portfolio management reasons. The International Fund’s managers may trade its portfolio frequently./div table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-family: arial; font-size: 8pt; width: 100%; border-spacing: 0px; margin: 0 auto;" tr td style="width: 42%;"/td td style="vertical-align: bottom; width: 3%;"/td td/td td style="vertical-align: bottom; width: 9%;"/td td style="width: 39%;"/td /tr tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;" td style="border-top: 0.75pt solid #000000; border-bottom: 0.75pt dotted #000000; vertical-align: bottom; white-space: nowrap;"span style="font-weight: bold;"SUB‑ ADVISOR/span/td td style="border-top: 0.75pt solid #000000; border-bottom: 0.75pt dotted #000000; vertical-align: bottom;" /td td style="border-top: 0.75pt solid #000000; border-bottom: 0.75pt dotted #000000; vertical-align: bottom;" div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: arial; font-weight: bold;"TARGET ASSET/div div style="margin-top: 0pt; margin-bottom: 1pt; font-size: 8pt; font-family: arial; font-weight: bold;"ALLOCATION/div /td td style="border-top: 0.75pt solid #000000; border-bottom: 0.75pt dotted #000000; vertical-align: bottom;"  /td td style="border-top: 0.75pt solid #000000; border-bottom: 0.75pt dotted #000000; vertical-align: bottom;" div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: arial; font-weight: bold;"MARKET CAPITALIZATION/div div style="margin-top: 0pt; margin-bottom: 1pt; font-size: 8pt; font-family: arial; font-weight: bold;"OF COMPANIES IN PORTFOLIO/div /td /tr tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;" td style="border-bottom: 0.75pt solid #000000; vertical-align: top;"Harris Associates L.P. (“Harris”)/td td style="border-bottom: 0.75pt solid #000000; vertical-align: bottom;" /td td style="border-bottom: 0.75pt solid #000000; vertical-align: top;"15%/td td style="border-bottom: 0.75pt solid #000000; vertical-align: bottom;"  /td td style="border-bottom: 0.75pt solid #000000; vertical-align: top;"All sizes/td /tr tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;" td style="border-bottom: 0.75pt solid #000000; vertical-align: top;"Lazard Asset Management (“Lazard”)/td td style="border-bottom: 0.75pt solid #000000; vertical-align: bottom;" /td td style="border-bottom: 0.75pt solid #000000; vertical-align: top;"30%/td td style="border-bottom: 0.75pt solid #000000; vertical-align: bottom;"  /td td style="border-bottom: 0.75pt solid #000000; vertical-align: top;"All sizes/td /tr tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;" td style="border-bottom: 0.75pt solid #000000; vertical-align: top;"Zadig Asset Management S.A. (“Zadig”)/td td style="border-bottom: 0.75pt solid #000000; vertical-align: bottom;" /td td style="border-bottom: 0.75pt solid #000000; vertical-align: top;"30%/td td style="border-bottom: 0.75pt solid #000000; vertical-align: bottom;"  /td td style="border-bottom: 0.75pt solid #000000; vertical-align: top;"Mostly large‑sized companies/td /tr tr style="page-break-inside: avoid; font-family: arial; font-size: 8pt;" td style="border-bottom: 0.75pt solid #000000; vertical-align: top;"Polen Capital Management, LLC (“Polen Capital”)/td td style="border-bottom: 0.75pt solid #000000; vertical-align: bottom;" /td td style="border-bottom: 0.75pt solid #000000; vertical-align: top;"25%/td td style="border-bottom: 0.75pt solid #000000; vertical-align: bottom;"  /td td style="border-bottom: 0.75pt solid #000000; vertical-align: top;"All sizes, but mostly large- and mid‑sized companies/td /tr /table
Read More

MSILX - Performance

Return Ranking - Trailing

Period MSILX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.0% -3.0% 35.2% 61.45%
1 Yr 22.6% -7.6% 66.4% 56.97%
3 Yr 13.6%* -0.8% 30.8% 86.87%
5 Yr 5.2%* -34.2% 34.0% 92.54%
10 Yr 6.8%* 2.5% 41.2% 95.06%

* Annualized

Return Ranking - Calendar

Period MSILX Return Category Return Low Category Return High Rank in Category (%)
2025 28.2% -64.4% 46.9% 21.20%
2024 -1.8% -30.9% 19.1% 80.34%
2023 16.2% -1.4% 22.0% 16.67%
2022 -22.3% -90.1% 71.3% 90.35%
2021 7.6% -23.1% 18.9% 30.20%

Total Return Ranking - Trailing

Period MSILX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.0% -3.0% 35.2% 61.45%
1 Yr 22.6% -7.6% 66.4% 56.97%
3 Yr 13.6%* -0.8% 30.8% 86.87%
5 Yr 5.2%* -34.2% 34.0% 92.54%
10 Yr 6.8%* 2.5% 41.2% 95.06%

* Annualized

Total Return Ranking - Calendar

Period MSILX Return Category Return Low Category Return High Rank in Category (%)
2025 30.2% 6.6% 54.4% 60.51%
2024 -0.6% -17.9% 22.0% 95.38%
2023 17.1% 3.2% 23.8% 41.24%
2022 -21.6% -89.7% 144.8% 94.91%
2021 11.8% -22.6% 56.0% 28.42%

NAV & Total Return History

MSILX - Holdings

Concentration Analysis

MSILX Category Low Category High MSILX % Rank
Net Assets 123 M 3.54 M 629 B 92.65%
Number of Holdings 70 1 10834 73.85%
Net Assets in Top 10 33.2 M 1.03 M 75.3 B 90.43%
Weighting of Top 10 28.88% 5.7% 103.9% 32.70%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co Ltd 4.12%
  2. Phoenix Financial Ltd 3.84%
  3. ASML Holding NV 3.81%
  4. SAP SE 2.73%
  5. STMicroelectronics NV 2.56%
  6. Compass Group PLC 2.48%
  7. Societe Generale SA 2.37%
  8. MercadoLibre Inc 2.34%
  9. AstraZeneca PLC 2.32%
  10. National Grid PLC 2.29%

Asset Allocation

Weighting Return Low Return High MSILX % Rank
Stocks 		97.20% 0.00% 103.91% 52.99%
Cash 		1.71% -1.24% 28.70% 49.57%
Other 		1.08% -4.59% 9.87% 12.48%
Preferred Stocks 		0.00% 0.00% 3.20% 86.15%
Convertible Bonds 		0.00% 0.00% 4.18% 74.79%
Bonds 		0.00% 0.00% 146.29% 76.92%

Stock Sector Breakdown

Weighting Return Low Return High MSILX % Rank
Financial Services 		19.67% 0.18% 45.44% 28.42%
Consumer Cyclical 		16.70% 0.00% 21.37% 5.61%
Industrials 		14.71% 5.17% 99.49% 53.68%
Technology 		14.60% 0.30% 22.37% 21.58%
Communication Services 		12.69% 0.00% 21.69% 3.33%
Healthcare 		10.71% 0.00% 20.35% 64.91%
Utilities 		5.64% 0.00% 13.68% 6.67%
Consumer Defense 		4.20% 0.00% 32.29% 95.26%
Basic Materials 		1.08% 0.00% 23.86% 98.95%
Real Estate 		0.00% 0.00% 14.59% 93.86%
Energy 		0.00% 0.00% 16.89% 98.60%

Stock Geographic Breakdown

Weighting Return Low Return High MSILX % Rank
Non US 		84.44% 0.00% 99.68% 74.53%
US 		12.76% 0.00% 100.07% 19.15%

MSILX - Expenses

Operational Fees

MSILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.25% 0.02% 13.76% 29.67%
Management Fee 0.88% 0.00% 1.58% 94.84%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 1.00% N/A

Sales Fees

MSILX 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% 4.00% N/A

Trading Fees

MSILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 62.12%

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.

MSILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 99.91% 2.00% 247.00% 88.63%

MSILX - Distributions

Dividend Yield Analysis

MSILX Category Low Category High MSILX % Rank
Dividend Yield 1.43% 0.00% 17.49% 92.48%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MSILX Category Low Category High MSILX % Rank
Net Income Ratio 3.63% -0.77% 3.63% 0.18%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MSILX - Fund Manager Analysis

Managers

David Herro

Start Date

Tenure

Tenure Rank

Dec 01, 1997

24.51

24.5%

David Herro is the Chief Investment Officer – International Equities at Harris Associates L.P. and serves as a Deputy Chairman and a Portfolio Manager of a number of Oakmark funds. Mr. Herro has been managing international portfolios since 1986, previously managing international portfolios for The State of Wisconsin Investment Board and The Principal Financial Group. Mr. Herro, who joined Harris Associates in 1992, holds a BS in business and economics from the University of Wisconsin – Platteville (1983) and an MA in economics from the University of Wisconsin – Milwaukee (1985).

Jeremy DeGroot

Start Date

Tenure

Tenure Rank

Apr 30, 2005

17.1

17.1%

Jeremy DeGroot, CFA MA, Principal, Chief Investment Officer Jeremy joined Litman Gregory in 1999 and became a principal in 2003. He is responsible for overseeing the firm's manager due diligence, asset class research, and portfolio allocation decisions. Jeremy is also Portfolio Manager of the Litman Gregory Masters Alternative Strategies Fund and Co-Portfolio Manager of the Litman Gregory Masters Equity, International, and Smaller Companies funds. He is frequently quoted in the national media in the areas of asset allocation and manager selection. Jeremy holds the Chartered Financial Analyst® (CFA®) designation. Prior to joining Litman Gregory, Jeremy was an Economic Consulting Services Manager with KPMG Peat Marwick and was a Senior Economist with the Law & Economics Consulting Group. Jeremy is a graduate of University of Wisconsin - Madison (BS - Economics) and University of California - Berkeley (MA - Economics).

Mark Little

Start Date

Tenure

Tenure Rank

Jan 15, 2013

9.38

9.4%

Mark Little Managing Director, Portfolio Manager/Analyst Lazard Asset Management Limited (London) Mark Little is a Portfolio Manager/Analyst on the International Strategic Equity, International Compounders, and Global Strategic Equity teams. He began working in the investment field in 1992. Prior to joining Lazard in 1997, he was a manager in the corporate finance practice of Coopers & Lybrand and earned his ACA qualification with Rees Pollock Chartered Accountants. Mark has an MA in Economics from Clare College, Cambridge University.

Todd Morris

Start Date

Tenure

Tenure Rank

Sep 30, 2021

0.67

0.7%

Todd Morris,Portfolio Manager and Analyst, is lead portfolio manager for the International Growth Strategy and a member of the investment team at Polen Capital. Mr. Morris joined Polen Capital in 2011. During his time at Polen Capital he has served as a Research Analyst and the Director of Research. Prior to joining Polen Capital, Mr. Morris worked in research and marketing roles with Prudential Insurance and Millennium Global Asset Management, respectively, and served for seven years in the U.S. Navy. During his naval career Mr. Morris navigated a warship on three deployments, taught at the U.S. Merchant Marine Academy and served with the U.S. Army in Iraq. Mr. Morris received a B.S. in History from the U.S. Naval Academy where he was a student athlete, and an MBA from Columbia Business School.

Daniel Fields

Start Date

Tenure

Tenure Rank

Sep 30, 2021

0.67

0.7%

Mr. Fields joined Polen Capital in 2017 and is responsible for the day-to-day portfolio management and investment analysis for the Fund. Prior to joining Polen Capital, Mr. Fields spent eight years in Hong Kong where he worked for GaveKal Capital and Marshall Wace LLP as a research analyst evaluating Asian growth companies. He began his career at Fisher Investments as a junior analyst analyzing emerging markets companies. Mr. Fields received a B.S. in Finance from the University of Idaho and a M.S. in Global Finance from the NYU Stern School of Business and HKUST Business School. Mr. Fields is a CFA charterholder.

Kiko Vallarta

Start Date

Tenure

Tenure Rank

Mar 18, 2022

0.2

0.2%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.35 6.45 3.25

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