Managed Risk Emerging Markets Equity FundJEIMX - I SHARES | JEAMX - A SHARES | JECMX - C SHARES | JESMX - R6 SHARES
- $1.45 M
Portfolio Assets 7-27-2021
- $1.45 M
- $6.24 NAV 7-23-2021
*The Fund’s investment adviser has contractually agreed to reduce its fees and/or absorb expenses until at least March 19, 2023 for I Shares to ensure that net annual operating expenses will not exceed 1.78%, subject to possible recoupment from the Fund in future years.
Overall Morningstar rating as of March 31, 2021. Based on risk-adjusted returns. Category: Options-based out of 113 funds.3
Low Standard Deviation
Standard Deviation of 5.47% as of 11/30/19.
Time to Reassess
“It may be time to reassess emerging markets equity from a risk standpoint, without losing sight of the potential return opportunities”2
“Plan sponsors are embracing the merits of emerging markets investing, in large part, to access the return premium that emerging markets equity has historically delivered over their developed markets equivalents.”2
The Fund’s primary investment objective is capital appreciation. By combining a long emerging markets equity core position with risk mitigation strategies, the Fund seeks to manage risk during significant equity market downturns and thereby enhance returns.
The Portfolio will seek to achieve its objective by combining a long equity strategy with options strategies that seek to manage risk during equity market downturns.
The long equity strategy seeks to replicate the returns of the MSCI Emerging Markets Index and potentially enhance these returns. Exposure to MSCI Emerging Markets Index companies will be achieved primarily through exchange-traded funds (“ETFs”).
The options strategies attempt to reduce the risk associated with the Fund’s long equity exposure with two different strategies – a low volatility strategy and a high volatility strategy. When option premiums are low, the low volatility strategy will seek to protect the Fund from significant market downturns. When option premiums are high, the high volatility strategy seeks to generate income and maximize protection of the Fund from modest market downturns. The Portfolio expects primarily to use listed exchange-traded options.