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Vontobel U.S. Equity Institutional Fund
mutual fund
VTUIX
Payout Change
Pending
Price as of:
$18.5676
+0.11
+0.58%
primary theme
N/A
share class
VTUIX (Mutual Fund)
Vontobel U.S. Equity Institutional Fund
VTUIX (Mutual Fund)
Vontobel U.S. Equity Institutional Fund
Payout Change
Pending
Price as of:
$18.5676
+0.11
+0.58%
primary theme
N/A
share class
Name
As of 10/18/2024Price
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
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$41 M
Holdings in Top 10
45.0%
52 WEEK LOW AND HIGH
$18.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 2.74%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/18/2024Price
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
VTUIX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.34%
- Dividend Yield 0.5%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameVontobel U.S. Equity Institutional Fund
-
Fund Family NameState Farm Investment Management Corp.
-
Inception DateMar 27, 2018
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerEdwin Walczak
Fund Description
Under normal circumstances, the Fund invests at least 80% of its assets (net assets plus the amount of borrowings for investment purposes) in equity securities of U.S. issuers of any capitalization. Shareholders will be given 60 days’ advance notice of any change to this policy. Equity securities include common and preferred stocks, securities convertible or exchangeable into common stocks, warrants, rights to purchase common stocks, and real estate investment trusts (“REITs”).
The Fund seeks to provide investors with access to high-quality U.S. companies. The securities selected for inclusion in the Fund are those that, in the opinion of the Adviser, are well-managed businesses with consistent operating histories and financial performance that have favorable long-term economic prospects and, in most cases, generate free cash flow. Free cash flow is the difference between operating cash flow and capital expenditures and represents the cash available to develop new products, make acquisitions, pay dividends and reduce debt. Over full market cycles, the investment style is designed with the objective of capturing part of the up market cycles and may offer protection in down market cycles, although there is no guarantee that it will do so. The Adviser implements a bottom-up stock selection process and generally does not look for special circumstances or cyclical market timing events. The Adviser anticipates that stocks held by the Fund will perform well as long as the general economic environment is favorable. However, Fund holdings are also expected to have defensive qualities and are selected with the expectation that they outperform the growth of the weighted average earnings per share of the indices when economies or markets fail to perform well. The Fund’s holdings tend to underperform during late stage boom markets or during a market bounce following a collapse; times when more cyclical and higher levered companies tend to outperform.
Additionally, the Fund may invest up to 20% of its assets in securities of companies located in Canada or in sponsored or unsponsored American Depositary Receipts (“ADRs”) of foreign companies located in developing or emerging markets countries. Emerging markets generally will include countries of every nation in the world except the U.S., Canada, Japan, Australia, New Zealand, and most nations located in Western Europe. The Adviser primarily relies on the country where the company is incorporated, is headquartered or has its principal place of business in determining the “location” of an issuer. The Adviser will also consider as companies of an emerging markets country or countries certain companies that are not actually domiciled in or do not have their principal place of business in an emerging markets country or countries, but that have at least 50% of their assets in, or expect to derive at least 50% of their total revenues or profits from, goods or services produced in or sales made in an emerging markets country or countries. This evaluation is conducted so as to determine that the company’s assets are exposed to the economic fortunes and risks of a designated country or countries.
The Fund also considers environmental social and governance (“ESG”) characteristics and invests in companies that the Adviser believes are well-prepared to handle financially material ESG challenges. The Adviser utilizes an ESG framework in selecting investments. The ESG framework assesses a company’s ESG practices and excludes companies that violate certain international norms and standards or that are involved in severe controversies, unless the Adviser identifies positive steps taken by the company to resolve the violations or controversies. The Adviser uses the following sustainability indicators to determine if the Fund has attained the ESG characteristics in the ESG framework:
| • | The Fund excludes securities of companies with any revenue exposure to controversial weapons (e.g., anti-personnel mines, cluster munitions, chemical weapons and biological weapons). |
| • | The Fund considers the percentage of investments in securities of companies that are in violation with certain international norms and standards promoted by the Fund or that are exposed to severe controversies as assessed on a case-by-case basis by the Adviser and/or a third party ESG data provider (unless a positive outlook has been identified). |
The Fund follows an active ownership approach, which takes into account relevant ESG matters. The Adviser engages directly with companies through meetings and dialogue with management and by voting on resolutions, and indirectly by working collaboratively with other institutional shareholders or coordinating bodies to amplify our impact. The Adviser sees these activities as a way to support the attainment of the ESG characteristics of the Fund.
In determining which portfolio securities to sell, the Adviser focuses on the operating results of the portfolio companies, not price quotations, to measure the success of an investment. In making sell decisions, the Adviser considers, among other
things, whether a security’s price target has been met, whether there has been an overvaluation of the issuer by the market, whether there has been a clear deterioration of future earnings power, and whether, in the Adviser’s opinion, there has been a loss of a long-term competitive advantage. In addition, the information used for the implementation of the ESG framework, and consequently the attainment of the ESG characteristics, are reviewed on a regular basis. If a security no longer complies with the criteria, the Adviser may, but is not required to, sell the security within a reasonable time period as determined by the Adviser considering prevailing market conditions and the best interests of the shareholders.
VTUIX - Performance
Return Ranking - Trailing
| Period | VTUIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | N/A | -0.3% | 50.1% | 91.64% |
| 1 Yr | N/A | 3.3% | 68.8% | 97.21% |
| 3 Yr | N/A* | -25.9% | 24.2% | 15.18% |
| 5 Yr | N/A* | -14.0% | 29.6% | 80.93% |
| 10 Yr | N/A* | -4.9% | 19.8% | N/A |
* Annualized
Return Ranking - Calendar
| Period | VTUIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 24.4% | -74.1% | 72.4% | 76.90% |
| 2022 | -19.3% | -85.9% | 4.7% | 3.04% |
| 2021 | 8.2% | -52.4% | 60.5% | 51.67% |
| 2020 | 14.2% | -34.3% | 145.0% | 87.57% |
| 2019 | 29.7% | -6.9% | 49.4% | 20.95% |
Total Return Ranking - Trailing
| Period | VTUIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | N/A | -0.3% | 50.1% | 91.64% |
| 1 Yr | N/A | 3.3% | 68.8% | 97.21% |
| 3 Yr | N/A* | -25.9% | 24.2% | 15.18% |
| 5 Yr | N/A* | -14.0% | 29.6% | 80.93% |
| 10 Yr | N/A* | -4.9% | 19.8% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | VTUIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 25.7% | -4.6% | 72.4% | 85.05% |
| 2022 | -15.4% | -61.7% | 5.6% | 2.85% |
| 2021 | 25.4% | -39.8% | 118.1% | 26.30% |
| 2020 | 17.3% | 2.8% | 149.2% | 96.15% |
| 2019 | 32.0% | -5.2% | 49.4% | 60.22% |
NAV & Total Return History
VTUIX - Holdings
Concentration Analysis
| VTUIX | Category Low | Category High | VTUIX % Rank | |
|---|---|---|---|---|
| Net Assets | 41 M | 296 K | 287 B | 94.06% |
| Number of Holdings | 41 | 2 | 3061 | 77.12% |
| Net Assets in Top 10 | 17.4 M | 126 K | 151 B | 95.14% |
| Weighting of Top 10 | 45.00% | 0.7% | 205.0% | 76.69% |
Top 10 Holdings
- Amazon.com, Inc. COM USD0.01 7.08%
- Microsoft Corp. COM USD0.00000625 6.37%
- The Coca-Cola Company COM USD0.25 4.84%
- Intercontinental Exchange Inc COM USD0.01 4.35%
- Alphabet Inc. CAP USD0.001 CL C 4.04%
- MasterCard Incorporated COM USD0.0001 CLASS A 3.83%
- UnitedHealth Group Inc. COM USD0.01 3.69%
- Adobe Inc COM USD0.0001 3.61%
- RB Global Inc COM 3.59%
- Mondelez International, Inc. COM NPV 3.59%
Asset Allocation
| Weighting | Return Low | Return High | VTUIX % Rank | |
|---|---|---|---|---|
| Stocks | 99.55% | 0.00% | 115.30% | 26.04% |
| Cash | 0.74% | 0.00% | 173.52% | 59.28% |
| Preferred Stocks | 0.00% | 0.00% | 10.69% | 46.04% |
| Other | 0.00% | -31.50% | 50.35% | 50.63% |
| Convertible Bonds | 0.00% | 0.00% | 1.94% | 38.45% |
| Bonds | 0.00% | 0.00% | 102.71% | 40.09% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | VTUIX % Rank | |
|---|---|---|---|---|
| Consumer Defense | 18.54% | 0.00% | 25.50% | 0.90% |
| Financial Services | 18.43% | 0.00% | 43.06% | 7.04% |
| Consumer Cyclical | 16.73% | 0.00% | 62.57% | 41.79% |
| Healthcare | 16.41% | 0.00% | 39.76% | 18.05% |
| Technology | 13.24% | 0.00% | 65.70% | 97.65% |
| Communication Services | 8.01% | 0.00% | 66.40% | 74.73% |
| Industrials | 5.42% | 0.00% | 30.65% | 58.39% |
| Basic Materials | 3.22% | 0.00% | 18.91% | 14.89% |
| Utilities | 0.00% | 0.00% | 16.07% | 56.77% |
| Real Estate | 0.00% | 0.00% | 16.05% | 79.06% |
| Energy | 0.00% | 0.00% | 41.09% | 71.48% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | VTUIX % Rank | |
|---|---|---|---|---|
| US | 99.55% | 0.00% | 115.30% | 18.92% |
| Non US | 0.00% | 0.00% | 75.51% | 57.39% |
VTUIX - Expenses
Operational Fees
| VTUIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.74% | 0.01% | 28.71% | 2.62% |
| Management Fee | 0.50% | 0.00% | 1.50% | 30.22% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 1.02% | N/A |
Sales Fees
| VTUIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 8.50% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| VTUIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 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.
| VTUIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 316.74% | 36.46% |
VTUIX - Distributions
Dividend Yield Analysis
| VTUIX | Category Low | Category High | VTUIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.46% | 0.00% | 27.58% | 24.44% |
Dividend Distribution Analysis
| VTUIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Annual | Annual |
Net Income Ratio Analysis
| VTUIX | Category Low | Category High | VTUIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.34% | -6.13% | 3.48% | 11.05% |
Capital Gain Distribution Analysis
| VTUIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 19, 2023 | $0.086 | OrdinaryDividend |
| Dec 19, 2023 | $0.076 | CapitalGainLongTerm |
| Dec 20, 2022 | $0.620 | OrdinaryDividend |
| Dec 21, 2021 | $2.496 | OrdinaryDividend |
| Dec 16, 2020 | $0.398 | OrdinaryDividend |
| Dec 18, 2019 | $0.084 | OrdinaryDividend |
| Dec 18, 2019 | $0.014 | CapitalGainShortTerm |
| Dec 18, 2019 | $0.128 | CapitalGainLongTerm |
VTUIX - Fund Manager Analysis
Managers
Edwin Walczak
Start Date
Tenure
Tenure Rank
Mar 27, 2018
4.18
4.2%
Edwin Walczak has been a Portfolio Manager and Senior Research Analyst for Vontobel’s Quality Growth Boutique since July 1988. He has held a management position on the firm’s U.S. Equity strategy since its inception. In addition to his portfolio management responsibilities, he continues to conduct research analysis on individual stocks which may be included in the firm’s other strategies, primarily focusing on companies in the Industrials, Financials, Consumer Discretionary, and Consumer Staples sectors. Prior to joining Vontobel Asset Management, from 1984 to 1988, Edwin Walczak worked as an Institutional Portfolio Manager at Lazard Frères Asset Management. From 1982 to 1984, he was an Institutional Relationship Manager at Sanford C. Bernstein & Co. He began his financial career in 1978 at the Ford Motor Company in Dearborn, Michigan and General Motors Corporation, New York, where he held successive positions as a Financial Analyst until 1982. Edwin Walczak received a Master of Business Administration in Finance and a Master of Arts in International Politics and Economics from Columbia University, and was an International Fellow in Columbia Graduate School in New York. In addition, he received a Bachelor of Arts (Phi Beta Kappa) in Government from Colby College in Maine.
Matthew Benkendorf
Start Date
Tenure
Tenure Rank
Mar 27, 2018
4.18
4.2%
Mr. Benkendorf ,Managing Director,Chief Investment Officer,Portfolio Manager, Senior Research Analyst - Mr. Benkendorf joined Vontobel Asset Management, Inc. in October 1999 in trade support. After being promoted to trader in 2000, Mr. Benkendorf became a research analyst in 2002 and moved into portfolio management in 2006 as deputy portfolio manager of Vontobel’s European Equity Strategy.Mr. Benkendorf has held various positions with Vontobel, including Deputy Portfolio Manager from 2013 to 2016, Executive Director from 2012 to 2013;Director from 2009 to 2012;Vice President from 2007 to 2009.
Chul Chang
Start Date
Tenure
Tenure Rank
Jun 30, 2020
1.92
1.9%
Chul Chang has been a Quantitative Risk Analyst for the Quality Growth Boutique since April 2009 and a Portfolio Manager since June 2020. He joined Vontobel Asset Management in 2009 as a Senior Quantitative Analyst. In addition to his quantitative analysis responsibilities, he is also on the Risk Management Team and works as a Senior Research Analyst. He continues to conduct research analysis on individual stocks which may be included in the firm’s other strategies, primarily focusing on the Materials, Information Technology, Industrials, and Energy sectors. He expanded his role in June 2020, becoming a Portfolio Manager on the firm’s U.S. Equity strategy. Prior to joining Vontobel Asset Management, from 2003 to 2009 Chul Chang was a Director in Investment Services at AG Asset Management. He began his financial career in 2000 at Alliance Bernstein where he worked in relationship management until 2003. He received a Master of Business Administration from Columbia University and a Bachelor of Science in Applied Economics from Cornell University in New York. Chul Chang is a CFA® charterholder.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 54.45 | 8.24 | 3.08 |
