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Global Shareholder Yield Fund (JGYAX)

Daily Price as of 9/9/10

8.42 0.04 0.48
 
POP Change ($) Change (%)
8.86 0.04 0.45

Management Team

No Photo Available
William W. Priest, CFA, CPA

Founded Epoch in 2004
Began business career in 1965
No Photo Available
Eric Sappenfield

Joined team in 2006
Began business career in 1986

No Photo Available
Michael A. Welhoelter, CFA

Joined team in 2005
Began business career in 1986

View Commentary

Top Holdings (%)

as of 8/31/10
Nestle SA 1.96
Altria Group, Inc. 1.94
Anheuser-Busch InBev NV 1.89
Philip Morris International, Inc. 1.88
BCE, Inc. 1.88
Diageo PLC ADR 1.74
CenturyTel, Inc. 1.72
Imperial Tobacco 1.64
Lorillard, Inc. 1.59
NiSource, Inc. 1.58
The Fund’s holdings are subject to change at any time. Characteristics are expressed as a percentage of net assets.

All Funds (with the exception of the Money Market Fund) exclude cash and cash equivalent securities from Top holdings and Top issuers.

Goal and Strategy

The primary objective of the Fund is to seek to provide a high level of income. Capital appreciation is a secondary investment objective. To pursue these goals, the subadviser seeks to invest in a diversified portfolio of companies with outstanding risk/reward profiles and a focus on high “shareholder yield”. Shareholder yield refers to the financial impact on shareholders from the return of free cash flow through cash dividends, stock repurchases and debt reduction. The Fund will consist primarily of global stocks, including the United States, across all market capitalizations.

Average Annual Total Returns1

Monthly Performance (%) as of 8/31/10
QTD YTD 1YR 3YR 5YR Since Inception
(3/1/07)
(not annualized)
POP 1.12 -6.65 3.03 -6.75 NA -4.36
Quarterly Performance (%) as of 6/30/10
QTD YTD 1YR 3YR 5YR Since Inception
(3/1/07)
(not annualized)
POP -13.27 -12.30 5.37 -9.16 NA -6.35

Cumulative Returns

Monthly Performance (%) as of 8/31/10
QTD YTD 1YR 3YR 5YR Since Inception
(3/1/07)
POP 1.12 -6.65 3.03 -18.91 NA -14.47

The performance data shown represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so that investors' shares, when sold, may be worth more or less than their original cost. See performance data current to the most recent month-end, which may be higher or lower than that cited.

Performance figures assume that all distributions are reinvested. POP (public offering price) figures reflect maximum sales charge on Class A shares of 5% for equity funds and 4.5% for fixed-income funds with the exception of the Floating Rate Income fund and the Currency Strategies fund, which have a maximum sales charge of 3%. Performance quoted without sales charges would be reduced if the sales charges were applied. Performance for other share classes will vary. For money market funds, the yield quoted more closely reflect the current earnings of the fund than the total return performance shown. Sales charges do not apply to money market funds and as a result, those funds do not quote POP performance figures. The Fund operating expenses are 1.66%.

Risk Assessment

Morningstar Rating3

Overall Rating

As of 7/31/10 the Fund was rated 4 stars out of 593 funds for the 3-year period.

Load-Waived Rating

As of 7/31/10 the Fund was rated 5 stars out of 593 funds for the 3-year period.

Overall Rating is based on the 3-, 5- and 10-year Morningstar Risk-Adjusted Returns and accounts for variation in a fund's monthly performance. The overall rating includes effects of sales charges, loads and redemption fees, whereas the load-waived rating does not. Load-waived ratings for Class A shares should only be considered by investors who are not subject to a front-end sales charge. Contact your financial professional to determine whether you are eligible to purchase Class A shares without paying the front-end load. Other classes may be rated differently.

What You Should Know

Investments in foreign securities may be affected by currency fluctuations, differences in accounting standards and political instability. These risks are more significant in emerging markets. The Fund may not be appropriate for all investors. Small and medium-capitalization stocks tend to be more volatile than stocks of larger companies and as a group could fall out of favor with the market, causing the Fund to underperform investments that focus solely on large-capitalization stocks. Diversification does not insure against market loss. 

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Click here to view prospectuses for Open-End, Retirement, and Institutional funds. A fund’s investment objectives, risks, charges and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. Please read the prospectus carefully before investing or sending money. These products are available for sale only within the United States.

Please keep in mind that mutual fund shares: Are not FDIC insured | May lose value | Come with no bank guarantee | Are not insured by any government agency

1 Results reflect any expense reductions, which can be terminated in the future. Without these reductions, expenses increase and results would have been less favorable. For some periods, the Fund’s performance may have been influenced by investments in unusually hot industries, IPOs or other factors. Similar opportunities may or may not be available in the future.
2 As of most recent month-end. Morningstar definitions: The Morningstar Style Box reveals the Fund’s investment strategy. For equity funds, the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend or growth).
3 Morningstar proprietary ratings reflect risk-adjusted performance through most recent month-end. The ratings are subject to change every month. For each fund with at least a 3-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return that accounts for variation in a fund’s monthly performance (including effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category, the next 22.5%, 35%, 22.5% and the bottom 10% receive 5, 4, 3, 2 or 1 star, respectively. (Each share class is counted as a fraction of 1 fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Past performance is no guarantee of future results.
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