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Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 12/06/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
7.1%
1 yr return
11.9%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$5.63 M
Holdings in Top 10
58.7%
Expense Ratio 5.39%
Front Load N/A
Deferred Load N/A
Turnover 14.00%
Redemption Fee N/A
Standard (Taxable)
$0
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/06/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Under normal market conditions, at least 80% of the Fund’s assets (plus any borrowings for investment purposes) will be invested in equity securities of companies located in emerging market countries. The Fund is sub-advised by Morgan Stanley Investment Management Company (the “Sub-Adviser”).
The Sub-Adviser seeks to construct a focused portfolio of approximately 40 to 60 equity securities designed to take advantage of thematic opportunities in emerging markets. The Sub-Adviser seeks to invest in companies that it believes have the potential to outperform emerging markets generally over the long-term and which meet the responsible investing criteria described below.
The Sub-Adviser considers an issuer to be located in an emerging market country if (i) its principal securities trading market is in an emerging market country; (ii) alone or on a consolidated basis it derives 50% or more of its annual revenue or profits from goods produced, sales made or services performed in emerging market countries or has at least 50% of its assets, core business operations and/or employees in emerging markets countries; or (iii) it is organized under the laws of, or has a principal office in, an emerging market country. By applying this test, it is possible that a particular issuer could be deemed to be located in more than one country.
Emerging market or developing countries are countries that major international financial institutions generally consider to be less economically mature than developed nations, such as the United States, Canada, Japan, Australia, New Zealand and most countries located in Western Europe (such as the United Kingdom and France) or are countries included in the Fund’s benchmark, MSCI Emerging Markets Index. The specific countries that comprise emerging markets or developing countries may change from time to time.
The Fund may invest in all types of equity securities, including common and preferred stocks, convertible securities, rights, warrants, depositary receipts, limited partnership interests and other specialty securities having equity features. The Fund may hold or have exposure to equity securities of companies of any size, including small and medium capitalization companies, and to companies in any industry or sector. At times, the Fund’s investments may be focused in one or more sectors.
The Fund also may invest in American Depositary Receipts (“ADRs”), which are either sponsored or unsponsored, Global Depositary Receipts (“GDRs”) and other types of depositary receipts with respect to companies located in emerging market countries, and such investments will represent equity securities of companies located in emerging market countries for purposes of maintaining exposure of at least 80% of the Fund's assets to such securities.
The Fund may, but it is not required to, use derivative instruments for a variety of purposes, including hedging, risk management or portfolio management. The Fund’s use of derivatives may involve the purchase and sale of derivative instruments such as options, futures, swaps, contracts for difference (“CFDs”), structured investments and other related instruments and techniques. The Fund may utilize foreign currency forward exchange contracts, which are also derivatives, in connection with its investments in foreign securities. Derivative instruments used by the Fund will be counted toward the Fund’s 80% policy discussed above to the extent they have economic characteristics similar to the securities included within that policy. The Fund may lend securities. The Fund may also seek to gain exposure to common stocks through the use of equity-linked securities (such as participation notes (“p-notes”)). The Fund expects to use p-notes to invest indirectly in certain stocks that trade in a market that restricts foreign investors, such as the Fund, from investing directly in the market.
The Sub-Adviser generally uses a fundamental bottom-up stock selection process informed by macro thematic research on overall emerging markets. The Sub-Adviser will employ this consistent and targeted approach seeking companies they expect to become leading companies in emerging markets as well as developed country domiciled companies where a large portion of the companies’ growth is taking place in emerging market countries. The Fund is “non-diversified,” which means it may invest a greater percentage of its assets in the securities of a single issuer than a fund that is “diversified.”
Responsible Investing. The portfolio manager seeks to invest in companies that manage environmental, social and governance (“ESG”) risk exposures adequately and that are not exposed to excessive ESG risk through their principal business activities. Companies are analyzed by the investment adviser’s ESG analysts utilizing The Calvert Principles for
Responsible Investment (“Principles”), a framework for considering ESG factors (a copy of which is included as an appendix to the Fund’s Prospectus). Each company is evaluated relative to an appropriate peer group based on material ESG factors as determined by the investment adviser. Pursuant to the Principles, the investment adviser seeks to identify companies and other issuers that operate in a manner that is consistent with or promotes environmental sustainability and resource efficiency, equitable societies and respect for human rights, and accountable governance and transparency. The Fund generally invests in issuers that are believed by the investment adviser to operate in accordance with the Principles and may also invest in issuers that the investment adviser believes are likely to operate in accordance with the Principles pending the investment adviser’s engagement activity with such issuer.
Period | CMERX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.1% | -3.5% | 28.3% | 76.62% |
1 Yr | 11.9% | -1.8% | 35.5% | 76.62% |
3 Yr | N/A* | -13.8% | 47.8% | N/A |
5 Yr | N/A* | -34.2% | 74.9% | N/A |
10 Yr | N/A* | 1.0% | 32.0% | N/A |
* Annualized
Period | CMERX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -1.4% | 22.0% | N/A |
2022 | N/A | -43.6% | 71.3% | N/A |
2021 | N/A | -28.5% | 18.9% | N/A |
2020 | N/A | -90.1% | 992.1% | N/A |
2019 | N/A | -1.9% | 38.8% | N/A |
Period | CMERX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.1% | -3.5% | 28.3% | 76.62% |
1 Yr | 11.9% | -1.8% | 35.5% | 76.62% |
3 Yr | N/A* | -13.8% | 47.8% | N/A |
5 Yr | N/A* | -34.2% | 74.9% | N/A |
10 Yr | N/A* | 1.0% | 32.0% | N/A |
* Annualized
Period | CMERX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | 3.2% | 23.8% | N/A |
2022 | N/A | -43.6% | 144.8% | N/A |
2021 | N/A | -22.6% | 56.0% | N/A |
2020 | N/A | -89.7% | 1010.8% | N/A |
2019 | N/A | 4.3% | 38.8% | N/A |
CMERX | Category Low | Category High | CMERX % Rank | |
---|---|---|---|---|
Net Assets | 5.63 M | 3.3 M | 425 B | 99.06% |
Number of Holdings | 34 | 1 | 10481 | 93.76% |
Net Assets in Top 10 | 3.71 M | 1.01 M | 47.5 B | 96.26% |
Weighting of Top 10 | 58.74% | 4.6% | 147.7% | 4.55% |
Weighting | Return Low | Return High | CMERX % Rank | |
---|---|---|---|---|
Stocks | 96.55% | 0.00% | 102.63% | 65.83% |
Cash | 3.13% | 0.00% | 44.84% | 25.27% |
Preferred Stocks | 1.68% | -0.05% | 6.89% | 11.08% |
Other | 0.00% | -2.12% | 47.54% | 71.61% |
Convertible Bonds | 0.00% | 0.00% | 4.18% | 55.87% |
Bonds | 0.00% | 0.00% | 95.29% | 58.81% |
Weighting | Return Low | Return High | CMERX % Rank | |
---|---|---|---|---|
Financial Services | 20.01% | 0.00% | 47.75% | 24.64% |
Consumer Cyclical | 18.18% | 0.00% | 36.36% | 2.08% |
Healthcare | 13.38% | 0.00% | 20.35% | 30.72% |
Technology | 11.63% | 0.00% | 36.32% | 50.40% |
Industrials | 11.41% | 5.17% | 99.49% | 84.80% |
Consumer Defense | 7.77% | 0.00% | 32.29% | 77.60% |
Basic Materials | 5.63% | 0.00% | 23.86% | 81.76% |
Communication Services | 5.37% | 0.00% | 21.69% | 64.16% |
Energy | 2.52% | 0.00% | 16.89% | 83.36% |
Real Estate | 1.88% | 0.00% | 14.59% | 51.68% |
Utilities | 1.23% | 0.00% | 13.68% | 74.08% |
Weighting | Return Low | Return High | CMERX % Rank | |
---|---|---|---|---|
Non US | 75.46% | 0.00% | 99.44% | 85.49% |
US | 21.08% | 0.00% | 102.01% | 11.08% |
CMERX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 5.39% | 0.01% | 19.62% | 0.78% |
Management Fee | 0.87% | 0.00% | 1.65% | 93.56% |
12b-1 Fee | 0.50% | 0.00% | 1.00% | 72.89% |
Administrative Fee | 0.02% | 0.01% | 1.00% | 5.80% |
CMERX 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 |
CMERX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
CMERX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 14.00% | 2.00% | 247.00% | 20.21% |
CMERX | Category Low | Category High | CMERX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.11% | 0.00% | 17.49% | 95.48% |
CMERX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | SemiAnnual | Annual |
CMERX | Category Low | Category High | CMERX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.34% | -0.93% | 6.38% | 57.60% |
CMERX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Start Date
Tenure
Tenure Rank
May 01, 2010
4.83
4.8%
Fred Copper, a portfolio manager of Columbia Management Advisors, LLC (Columbia Advisors), is the lead manager for the Fund and has co-managed the Fund since October, 2005. Mr. Copper has been associated with Columbia Advisors or its predecessors since September, 2005. Prior to October, 2005, Mr. Copper was a senior vice president with Putnam Investments from March, 2001 to September, 2005 and an assistant vice president with Wellington Management Company, LLP from July, 1998 to February, 2001.Mr. Copper began his investment career in 1990, and earned a B.S. from Boston College and a M.B.A. from the University of Chicago.
Start Date
Tenure
Tenure Rank
Feb 20, 2009
6.02
6.0%
Colin Moore has been a portfolio manager and the head of active equity for Columbia Management Investment Advisers, LLC since 2002. Mr. Moore also serves as co-manager for Nations Strategic Growth Fund. Mr. Moore may also manage other investment products for both BACAP and Columbia Management. Prior to joining Columbia Management, Mr. Moore was chief investment officer of global/international value equities, portfolio manager, and associate director of research at Putnam Investments from 2000 to 2001. While serving in this role, he personally managed $3 billion, in addition to 29 analysts and five portfolio managers. Prior to joining Putnam in 2000, Mr. Moore was director of research and chief investment officer for Rockefeller & Co. in New York and London from 1991 to 1999. Mr. Moore has been in the investment community since 1980. Mr. Moore attended the London Business School, where he completed their investment management program and is an associate by examination of the U.K. Institute of Investment Management & Research (AIIMR).
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 30.35 | 6.32 | 3.25 |
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