Dividend Investing Ideas Center
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 10/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
11.6%
1 yr return
28.4%
3 Yr Avg Return
7.4%
5 Yr Avg Return
13.0%
Net Assets
$75.5 M
Holdings in Top 10
42.0%
Expense Ratio 1.35%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee 2.00%
Standard (Taxable)
$100,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 10/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Under normal circumstances, the Fund principally invests in equity securities, without regard to market capitalization, of companies whose main business is in the water-related resource sector or that are significantly involved in the water-related resource sector. Water-related resource sector activities may include, but are not limited to, water treatment, engineering, filtration, environmental controls, water-related equipment, water and wastewater services, and water utilities. Such activities may also include, but are not limited to, water distribution, water infrastructure and equipment, water-related construction and engineering, environmental control and metering, and services or technologies that conserve or enable more efficient use of water. The specific activities that the Fund may from time to time consider to qualify as “water-related resource sector activities” will change as markets, technologies and investment practices develop. The Fund seeks to invest in companies directly involved in the management of water-related resources and not in packagers or resellers of bottled water.
The Fund may invest in equity securities of U.S. and non-U.S. (including both developed and emerging market) companies. The equity securities in which the Fund invests are mainly common stocks, but may also include American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs” and, together with ADRs, “Depositary Receipts”), which are certificates issued by a bank or trust company that represent ownership interests in securities of non-U.S. companies. The Fund may hold up to 20% of its net assets in cash and money market instruments. The Fund may invest in securities of companies with any market capitalization and may focus its investments in a particular geographic region. From time to time, the Fund may invest significantly in small and medium capitalization companies. As of the date of this prospectus, the Adviser anticipates that the Fund will have significant geographic exposure to Europe and Asia.
The Fund seeks to achieve its investment objective through an integrated investment approach that incorporates four key elements:
1. | Theme Definition and Investment Universe |
The Adviser seeks to precisely define the “water” theme for the Fund’s investment portfolio and identify companies to be included in the Fund’s investable universe in order to create an investment portfolio that accurately reflects the opportunities available for the Fund. Companies that have been identified by the Adviser for inclusion in the Fund’s investment universe include, but are not limited to, manufacturers, service providers and operators that offer solutions in one or more of the following four categories: (i) increasing supply and access; (ii) decreasing demand and waste; (iii) improving and testing quality; and (iv) building and fixing infrastructure.
A stock must meet the Adviser’s revenue screen in order to be included in the Fund’s investable universe. In order to meet the Adviser’s revenue screen, a company must (a) derive at least 50% of its revenue from water-related resource sector activities; or (b) derive at least 10% of its revenues from water-related resource sector activities and be considered a market leader in the sector. The Adviser then assesses the fundamentals of potential buys and ultimately aims to identify companies with attractive growth prospects that are not currently reflected in their valuation.
2. | Research |
The Adviser undertakes fundamental analysis in order to identify what in its view are attractively-priced superior companies. In addition to internal research, the Adviser utilizes a select group of niche brokers that view the world with a similar specialist lens and can provide access to capital raising opportunities such as initial public offerings, private placements, private equity secondary investments, and Rule 144A/Regulation S transactions. Representatives of the Adviser also attend industry conferences, work closely with a number of industry bodies and speak directly with potential portfolio companies.
The Adviser explicitly integrates environmental, social and governance (“ESG”) factors into the Fund’s investment process in accordance with the Adviser’s belief that companies with strong governance and whose products and services enhance social or environmental goals should meaningfully outperform other companies and are more likely to have long, durable, sustainable business models. The Fund may invest in companies which already demonstrate leadership on ESG issues relevant
to their industries, as well as in companies which have yet to make significant progress on such issues but have the potential to do so. The Adviser believes that engagement with selected companies in the Fund’s portfolio will encourage such companies to address issues where sufficient commitment is lacking, or reinforce progress that may be underway. While the Adviser conducts its own assessment of the ESG performance of all companies, it also uses the services of a third-party provider of ESG research and ratings to assist with that process.
3. | Conviction-Based Portfolio Construction |
Weights in securities of particular companies are determined based on the Adviser’s assessment of upside relative to its fair value. The Adviser also implements a risk management overlay that focuses on liquidity, quality, volatility and diversification, e.g., the financial strength, geographical location, business lines and trading pattern of the underlying stock.
4. | Continuous Challenge |
In addition to the risk monitoring carried out by the Adviser, the Fund’s portfolio is subject to continuous review and challenge by the Fund’s investment team. The Adviser also reviews and challenges the Fund’s portfolio to ensure that the portfolio meets diversification parameters and that overall portfolio risks are in line with risk parameters.
The Adviser may sell a stock if the Adviser believes that the stock’s earnings expectations have deteriorated; the Adviser identifies a negative change in corporate information; the Adviser identifies new information with regard to a material environmental, social and governance issue or controversy; or the Adviser identifies a more attractive investment opportunity. The Adviser may also sell a stock if the stock has achieved its target price; the stock has experienced a change in fundamentals since it was purchased; or there has been a significant change in core activities in the underlying company resulting in thematic characteristics being significantly altered.
The portfolio is designed to consist of securities of 35-50 companies. The Fund has adopted a policy to concentrate its investments (invest at least 25% of its assets) in the securities of companies in the industrials and utilities industries. 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.
Period | KBIWX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 11.6% | -7.5% | 22.4% | 14.29% |
1 Yr | 28.4% | -9.5% | 31.6% | 0.95% |
3 Yr | 7.4%* | -15.6% | 25.0% | 49.02% |
5 Yr | 13.0%* | 0.5% | 37.3% | 35.05% |
10 Yr | N/A* | -5.6% | 14.3% | N/A |
* Annualized
Period | KBIWX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.3% | -13.1% | 52.1% | 14.42% |
2022 | -20.4% | -34.9% | 34.0% | 87.25% |
2021 | 5.9% | -4.9% | 83.5% | 98.00% |
2020 | 11.1% | -23.4% | 126.4% | 55.10% |
2019 | 20.9% | -25.1% | 36.9% | 16.49% |
Period | KBIWX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 11.6% | -7.5% | 22.4% | 14.29% |
1 Yr | 28.4% | -9.5% | 31.6% | 0.95% |
3 Yr | 7.4%* | -15.6% | 25.0% | 49.02% |
5 Yr | 13.0%* | 0.5% | 37.3% | 35.05% |
10 Yr | N/A* | -5.6% | 14.3% | N/A |
* Annualized
Period | KBIWX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 19.5% | -12.2% | 57.6% | 7.69% |
2022 | -14.3% | -32.2% | 35.5% | 84.31% |
2021 | 27.3% | -2.5% | 83.6% | 44.00% |
2020 | 13.5% | -22.2% | 127.8% | 55.10% |
2019 | 24.3% | -25.1% | 37.6% | 12.37% |
KBIWX | Category Low | Category High | KBIWX % Rank | |
---|---|---|---|---|
Net Assets | 75.5 M | 1.39 M | 6.25 B | 85.71% |
Number of Holdings | 48 | 25 | 317 | 55.24% |
Net Assets in Top 10 | 25.1 M | 614 K | 3.65 B | 89.52% |
Weighting of Top 10 | 41.98% | 16.8% | 77.1% | 64.76% |
Weighting | Return Low | Return High | KBIWX % Rank | |
---|---|---|---|---|
Stocks | 95.72% | 0.00% | 100.27% | 89.52% |
Cash | 4.28% | 0.00% | 21.06% | 23.81% |
Preferred Stocks | 0.00% | 0.00% | 5.99% | 61.90% |
Other | 0.00% | -0.08% | 23.81% | 67.62% |
Convertible Bonds | 0.00% | 0.00% | 0.43% | 60.95% |
Bonds | 0.00% | 0.00% | 83.60% | 64.76% |
Weighting | Return Low | Return High | KBIWX % Rank | |
---|---|---|---|---|
Industrials | 56.30% | 0.00% | 63.67% | 8.57% |
Utilities | 26.93% | 0.00% | 35.93% | 4.76% |
Healthcare | 6.81% | 0.00% | 22.67% | 8.57% |
Consumer Cyclical | 5.43% | 0.00% | 43.37% | 22.86% |
Basic Materials | 4.53% | 2.49% | 100.00% | 94.29% |
Technology | 0.00% | 0.00% | 17.68% | 75.24% |
Real Estate | 0.00% | 0.00% | 36.20% | 72.38% |
Financial Services | 0.00% | 0.00% | 4.52% | 66.67% |
Energy | 0.00% | 0.00% | 89.67% | 88.57% |
Communication Services | 0.00% | 0.00% | 0.21% | 60.00% |
Consumer Defense | 0.00% | 0.00% | 33.96% | 77.14% |
Weighting | Return Low | Return High | KBIWX % Rank | |
---|---|---|---|---|
US | 54.17% | 0.00% | 99.99% | 66.67% |
Non US | 41.54% | 0.00% | 89.12% | 31.43% |
KBIWX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.35% | 0.08% | 4.45% | 28.57% |
Management Fee | 0.85% | 0.00% | 1.25% | 72.38% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.03% | 0.25% | N/A |
KBIWX 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% | 1.00% | N/A |
KBIWX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 2.00% | 2.00% | 100.00% |
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.
KBIWX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 4.00% | 169.00% | 30.77% |
KBIWX | Category Low | Category High | KBIWX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.17% | 0.00% | 12.19% | 12.38% |
KBIWX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
KBIWX | Category Low | Category High | KBIWX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.37% | -35.65% | 6.21% | 19.23% |
KBIWX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 28, 2023 | $0.158 | OrdinaryDividend |
Dec 18, 2023 | $0.120 | CapitalGainShortTerm |
Dec 18, 2023 | $0.368 | CapitalGainLongTerm |
Dec 29, 2022 | $0.070 | OrdinaryDividend |
Dec 15, 2022 | $0.749 | OrdinaryDividend |
Dec 30, 2021 | $0.694 | OrdinaryDividend |
Dec 14, 2021 | $0.930 | OrdinaryDividend |
Jul 29, 2021 | $0.971 | OrdinaryDividend |
Dec 30, 2020 | $0.089 | OrdinaryDividend |
Dec 16, 2020 | $0.177 | OrdinaryDividend |
Dec 30, 2019 | $0.112 | OrdinaryDividend |
Dec 19, 2019 | $0.194 | CapitalGainShortTerm |
Dec 19, 2019 | $0.009 | CapitalGainLongTerm |
Dec 28, 2018 | $0.004 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Sep 26, 2018
3.68
3.7%
Matt is a senior portfolio manager on the Natural Resources equity team and is responsible for the development of investment strategy as well as the day-to-day management of the Water Strategy and the Global Resource Solutions Strategy. Matt joined the team in April 2011. He has extensive specialist knowledge and experience in investing in the water sector, including both global public listed equities and private equity. Prior to joining the firm, Matt worked at Water Asset Management where he was an Investment Analyst and at Wedge Capital Management where he was an Equity Analyst.
Start Date
Tenure
Tenure Rank
Sep 26, 2018
3.68
3.7%
Noel joined the firm in 1992, was promoted to Head of Equities in 1996 and was appointed CIO in 2002. As CIO, he has overall responsibility for investment process and performance of the firm’s assets under management across the various asset classes and specialist equity portfolios. The firms team of investment professionals report to Noel. He has specifically managed equity portfolios across Irish, European, Asian & US equity markets. Prior to joining the firm, Noel worked for Irish Life Investment Managers as a US Equity Asset Manager.
Start Date
Tenure
Tenure Rank
Sep 26, 2018
3.68
3.7%
Martin is a portfolio manager on the Natural Resources equity team and is responsible for the development of investment strategy as well as the day to day management of the Water strategy. Martin is also a co-PM of the Global Sustainable Infrastructure strategy. Martin joined the Asset Management team in November 2014 as an Investment Analyst and assumed the role of Portfolio Manager in January 2020. Previously he worked in the Portfolio Structuring unit since joining the firm in 2004, where he undertook trade allocations, FX trading & cash management of portfolios.
Start Date
Tenure
Tenure Rank
Sep 26, 2018
3.68
3.7%
Catherine is a senior portfolio manager on the Natural Resource equity team and is responsible for the development of investment strategy as well as day to day management of the Water strategy. She joined the Natural Resource team in October 2009 and has been at the firm since 2008 when she joined to manage the firm’s Irish equity portfolios. She has 21 years of investment management experience.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.16 | 24.18 | 7.58 | 0.16 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...