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GQG PARTNERS GLOBAL QUALITY DIVIDEND INCOME FUND

mutual fund
GQFPX
Payout Change
Pending
Price as of:
$12.06 +0.04 +0.33%
primary theme
N/A
share class
GQFPX (Mutual Fund)

GQG PARTNERS GLOBAL QUALITY DIVIDEND INCOME FUND

Payout Change
Pending
Price as of:
$12.06 +0.04 +0.33%
primary theme
N/A
share class
GQFPX (Mutual Fund)

GQG PARTNERS GLOBAL QUALITY DIVIDEND INCOME FUND

Payout Change
Pending
Price as of:
$12.06 +0.04 +0.33%
primary theme
N/A
share class

Name

As of 05/21/2024

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

$12.06

$104 M

2.20%

$0.26

0.98%

Vitals

YTD Return

12.9%

1 yr return

26.6%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$104 M

Holdings in Top 10

48.4%

52 WEEK LOW AND HIGH

$12.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.98%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$100


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/21/2024

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

$12.06

$104 M

2.20%

$0.26

0.98%

GQFPX - Profile

Distributions

  • YTD Total Return 12.9%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.92%
DIVIDENDS
  • Dividend Yield 2.2%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    GQG PARTNERS GLOBAL QUALITY DIVIDEND INCOME FUND
  • Fund Family Name
    GQG Partners Inc
  • Inception Date
    Jun 30, 2021
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Anders

Fund Description

Under normal circumstances, the Adviser seeks to achieve the Fund’s investment objective by investing primarily in dividend-paying securities of U.S. and non-U.S. companies, including those in emerging market countries. The Adviser considers a company’s historical dividend records and current prospects to determine whether an investment satisfies the Fund’s criteria for dividend-paying securities, for instance, whether it has a history of paying a dividend. Stocks of companies that have reduced dividends in the past or are not currently paying dividends may be considered for purchase by the Fund if the Adviser believes that the dividend payment or dividend growth is likely to be restored. Securities are selected based on a variety of factors, such as a company’s consistent effort to maintain or increase dividends over time while maintaining sufficient profitability. The Fund will generally hold securities of between 25 to 70 issuers that are located both within and

outside the U.S., including emerging markets countries, that the Adviser believes are undervalued by the market.

The Fund will invest primarily in publicly traded common stocks but may also invest in preferred stocks, exchange-traded funds (“ETFs”) with economic characteristics similar to equity securities, depositary receipts (including unsponsored depositary receipts and American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”) and Global Depositary Receipts (“GDRs”)), which are certificates typically issued by a bank or trust company that represent ownership interests in securities of non-U.S. companies, and participation notes (“P-Notes”), which are derivative instruments designed to replicate equity exposure in certain foreign markets where direct investment is either impossible or difficult due to local investment restrictions. The Fund’s portfolio allocations to common and preferred stocks are determined by the Adviser based upon current and relative yield and the potential total return of these securities relative to their investable universe. The Adviser would typically invest in an ETF rather than directly in underlying investments when the Adviser believes that doing so would provide more efficient exposure, liquidity or market access. The Adviser would also typically invest in depositary receipts when local trading in certain non-US. companies is restricted, for added liquidity or if there is a significant discount to the locally traded shares.

The Fund may also invest in initial public offerings (“IPOs”) and securities of companies with any market capitalization. IPOs are considered for purchase by the Fund if the Adviser believes that the applicable company meets the same criteria as any other Fund investment in terms of appreciation and income opportunities. The Fund may also invest in U.S. Treasury securities, and in ETFs that attempt to track the price movements of commodities, including gold. Treasuries are considered as alternatives to holding cash if treasuries offer better yields. Commodity ETFs are considered if the Adviser believes that they offer exposure that cannot be met with individual company securities or exposure to markets to which the Fund does not have direct access.

Under normal circumstances, the Fund invests in at least five countries, which may include the United States, and invests at least 40% of its total assets in securities of non-U.S. companies or, if conditions are not favorable, invests at least 30% of its total assets in securities of non-U.S. companies. The Fund considers a company to be a non-U.S. company if: (i) at least 50% of the company’s assets are located outside of the U.S.; (ii) at least 50% of the company’s revenue is generated outside of the U.S.; (iii) the company is organized, conducts its principal operations,

or maintains its principal place of business or principal manufacturing facilities outside of the U.S.; (iv) the company’s securities are traded principally outside of the U.S; or (v) the Adviser otherwise believes that the company’s assets are exposed to the economic fortunes and risks of a non-U.S. country (because, for example, the Adviser believes that the company’s growth is dependent on the country). The Fund may invest in equity securities of companies in both developed and emerging markets. The Fund considers classifications by the World Bank, the International Finance Corporation, the International Monetary Fund and the Fund’s benchmark index provider in determining whether a country is an emerging market country. Emerging market countries generally include every country in the world except the U.S., Canada, Japan, Australia, New Zealand, and most of the countries in Western Europe.

The Fund may also invest in A Shares of companies based in the People’s Republic of China (“China”) that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange through the Shanghai – Hong Kong and Shenzhen – Hong Kong Stock Connect programs (“Stock Connect”). China A Shares are considered if they meet the same criteria for inclusion in the Fund’s portfolio as any other Fund investment. Stock Connect is a mutual stock market access program designed to, among other things, enable foreign investments in China.

The Adviser seeks to focus on investments in dividend-paying companies located anywhere in the world, including in the U.S. In managing the Fund’s investments the Adviser focuses on equity securities that are expected to pay dividends and typically pursues a “growth style” of investing as it seeks to capture market inefficiencies which the Adviser believes are driven by investors’ propensity to be short-sighted and overly focused on quarter-to-quarter price movements rather than on a company’s fundamentals over a longer time horizon (5 years or more). The Adviser believes that this market inefficiency tends to lead investors to underappreciate the compounding potential of quality, growing companies. To identify this subset of companies, the Adviser generates investment ideas from a variety of sources, ranging from institutional knowledge and industry contacts, to the Adviser’s proprietary screening process that seeks to identify suitable companies based on several quality factors such as rates of return on equity and total capital, margin stability and profitability. Ideas are then subject to rigorous fundamental analysis as the Adviser seeks to identify and invest in companies that it believes reflect higher quality opportunities on a forward-looking basis. Specifically, the Adviser seeks to buy companies that it believes are reasonably priced and have strong fundamental business characteristics and sustainable and durable earnings growth. When making purchase

and sale decisions between similarly priced investment opportunities with comparable fundamentals, the Adviser seeks to identify relatively higher quality companies with strong financial positions, capable management, higher barriers to entry, more opportunity for growth and more durable earnings growth, based on the Adviser’s analyses of a company’s financial statements, economic health, competitors and the markets that it serves. The Adviser seeks to outperform the Fund’s benchmark index over a full market cycle by seeking to capture market upside while limiting downside risk. For these purposes, a full market cycle can be measured from a point in the market cycle (e.g., a peak or trough) to the corresponding point in the next market cycle.

Many of the stocks in which the Fund invests may be considered to be “growth” stocks, in that they may have above-average rates of earnings growth and thus experience above-average increases in stock prices, subject to the Adviser’s criteria for quality. In constructing the Fund’s portfolio of securities, the Adviser is not constrained by sector or industry weights in the Fund’s benchmark. The Fund may invest in any economic sector and, at times, emphasize one or more particular industries or sectors in the portfolio construction process. The Adviser relies on individual stock selection driven by a bottom-up research process rather than seeking to add value based on “top-down”, macro based criteria.

The Adviser may sell a company if the Adviser believes that the company’s long-term competitive advantage or relative earnings growth prospects have deteriorated, or the Adviser has otherwise lost conviction that the company reflects a higher quality opportunity than other available investments on a forward looking basis. The Adviser also may sell a company if the company has met its price target or is involved in a business combination, if the Adviser identifies a more attractive investment opportunity, or the Adviser wishes to reduce the Fund’s exposure to the company or a particular country or geographic region or if the Adviser expects that the company will not make acceptable dividend payments.

The Fund is classified as “non-diversified,” which means that it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.

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GQFPX - Performance

Return Ranking - Trailing

Period GQFPX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.9% N/A N/A N/A
1 Yr 26.6% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period GQFPX Return Category Return Low Category Return High Rank in Category (%)
2023 10.6% N/A N/A N/A
2022 -6.3% N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period GQFPX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.9% N/A N/A N/A
1 Yr 26.6% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period GQFPX Return Category Return Low Category Return High Rank in Category (%)
2023 15.1% N/A N/A N/A
2022 -1.1% N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

NAV & Total Return History


GQFPX - Holdings

Concentration Analysis

GQFPX Category Low Category High GQFPX % Rank
Net Assets 104 M N/A N/A N/A
Number of Holdings 49 N/A N/A N/A
Net Assets in Top 10 50.1 M N/A N/A N/A
Weighting of Top 10 48.45% N/A N/A N/A

Top 10 Holdings

  1. PETROLEO BRASILEIRO-SPON ADR DEPOSITARY RECEIPT 8.09%
  2. BROADCOM INC COMMON STOCK 6.50%
  3. TOTALENERGIES SE COMMON STOCK 5.53%
  4. ASTRAZENECA PLC-SPONS ADR DEPOSITARY RECEIPT 5.45%
  5. BROWN BROTHERS HARRIMAN SWEEP INTEREST 4.85%
  6. NOVO-NORDISK A/S-SPONS ADR DEPOSITARY RECEIPT 4.30%
  7. GLENCORE PLC COMMON STOCK 3.99%
  8. ADANI PORTS AND SPECIAL ECON COMMON STOCK 3.47%
  9. BANCO BILBAO VIZCAYA ARGENTA COMMON STOCK 3.28%
  10. MICROSOFT CORP COMMON STOCK 3.00%

Asset Allocation

Weighting Return Low Return High GQFPX % Rank
Stocks
99.32% N/A N/A N/A
Cash
4.85% N/A N/A N/A
Preferred Stocks
0.00% N/A N/A N/A
Convertible Bonds
0.00% N/A N/A N/A
Bonds
0.00% N/A N/A N/A
Other
0.00% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High GQFPX % Rank
Energy
26.10% N/A N/A N/A
Consumer Defense
19.12% N/A N/A N/A
Healthcare
17.31% N/A N/A N/A
Utilities
11.70% N/A N/A N/A
Basic Materials
9.62% N/A N/A N/A
Financial Services
5.73% N/A N/A N/A
Industrials
4.78% N/A N/A N/A
Consumer Cyclical
2.19% N/A N/A N/A
Technology
1.70% N/A N/A N/A
Communication Services
1.00% N/A N/A N/A
Real Estate
0.74% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High GQFPX % Rank
US
56.77% N/A N/A N/A
Non US
42.55% N/A N/A N/A

GQFPX - Expenses

Operational Fees

GQFPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.98% N/A N/A N/A
Management Fee 0.60% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

GQFPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

GQFPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

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.

GQFPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

GQFPX - Distributions

Dividend Yield Analysis

GQFPX Category Low Category High GQFPX % Rank
Dividend Yield 2.20% N/A N/A N/A

Dividend Distribution Analysis

GQFPX Category Low Category High Category Mod
Dividend Distribution Frequency None

Net Income Ratio Analysis

GQFPX Category Low Category High GQFPX % Rank
Net Income Ratio 3.92% N/A N/A N/A

Capital Gain Distribution Analysis

GQFPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

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GQFPX - Fund Manager Analysis

Managers

James Anders


Start Date

Tenure

Tenure Rank

Jun 30, 2021

0.92

0.9%

James joins GQG Partners LLC from Mercator Asset Management where he was a Senior VP and research analyst. His regional research responsibilities were Benelux as well as Latin America. He has extensive experience in the international equity arena, including developed Europe, emerging markets in Asia and Latin America, and frontier markets in Africa and the Middle East. He previously served as a research analyst at Consilium Investment Management in Ft. Lauderdale from 2008 to 2013, where he focused most recently on emerging and frontier markets equities. James began his career in 1993, serving

Rajiv Jain


Start Date

Tenure

Tenure Rank

Jun 30, 2021

0.92

0.9%

Rajiv Jain is the Chairman, Chief Investment Officer and Portfolio Manager of GQG Partners LLC. Prior to joining GQG Partners in 2016, Mr. Jain served as a Co-Chief Executive Officer, Chief Investment Officer and Head of Equities at Vontobel Asset Management (“Vontobel”). He joined Vontobel in 1994 as an equity analyst & associate manager of its international equity portfolios. Mr. Jain earned an MBA in Finance and International Business from the University of Miami in 1993. He also has a Master’s degree from the University of Ajmer and an undergraduate degree in Accounting.

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A