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Behavioral International Equity Fund

Mutual Funds

Behavioral International Equity Fund


Fund Managers

Photo of Robert  Bridges

Robert Bridges, CFA®

Photo of Robert  Weller

Robert Weller, CFA®

Overview

C
Shares

SBIDX

Inception
Date

12.01.2014

Investment
Min.

$1,000

Subsequent
Investment Min.1

N/A

Max. Up Front
Sales Charge

N/A

Max. Deferred
Sales Charge

1%

1If subsequent investments are made as part of an AIP, the minimum is $25.

Philosophy & Process

The Fund seeks maximum long-term total return by investing primarily through investments in international developed market equity securities.

To pursue its investment objective, the Fund will invest, under normal circumstances, at least 80% of its net assets plus borrowings for investment purposes in equity securities of foreign (non-U.S.) companies. Under normal market conditions, the Fund primarily invests in "developed market" equity securities, which encompasses markets included in the Bloomberg Developed Markets ex North America Large & Mid Cap Index and and other markets with similar characteristics (e.g., sustained economic development, sufficient liquidity for listed companies and accessible markets). The Fund also may invest in securities of real estate investment trusts ("REITs") and exchange-traded funds ("ETFs"). The Fund may invest in securities of issuers of any capitalization range.

Investment Considerations

The overall results of the Fund will be dependent on the process and ability of the Adviser to apply “behavioral finance” principles to recognize a company's value, earnings revisions and market momentum. The Fund will invest in foreign securities which may be more volatile and less liquid due to currency fluctuation, political instability, social and economic risks. The Fund may invest in REITs (Real EstateInvestment Trusts), the value of which will be affected by conditions of the real estate industry and exchange-traded funds (ETFs), thus shareholders may bear additional costs and the ETF may not exactly replicate the performance it seeks to track.

Fund Facts

Term Class A Shares Class C Shares Class I Shares Class R6 Shares
Ticker SBIAXSBIDXSBIIXSTRCX
Inception Date 12.01.201412.01.201412.01.201402.01.2018
Investment Min. $1,000$1,000$1,000,000N/A
Subsequent Investment Min.2 N/AN/AN/AN/A
Max. Up Front Sales Charge 5.75%N/AN/AN/A
Max. Deferred Sales Charge N/A1%N/AN/A

2If subsequent investments are made as part of an AIP, the minimum is $25.

Behavioral International Equity Fund

Management

View professional designations disclosures

Photo of Robert  Bridges

Robert Bridges, CFA®

Co-Portfolio Manager

Photo of Robert  Weller

Robert Weller, CFA®

Co-Portfolio Manager

Performance

Fund Performance as of 03.31.2024

Term QTR YTD 1 Year 3 Years 5 Years Since Inception
A Shares with 5.75% Sales Charge 0.60% 0.60% 11.65% 3.87% 3.30% 2.98%
A Shares without Sales Charge 6.73% 6.73% 18.50% 5.95% 4.54% 3.63%
Institutional Shares 6.74% 6.74% 18.67% 6.19% 4.77% 3.86%
Lipper International Multi-Cap Value Median N/A N/A N/A N/A N/A N/A

The total expense ratios for Class A, C, and I Shares are 0.88%, 1.63% and 0.63%, respectively. The gross expense ratio for Class R6 Shares is 0.63%. The net expense ratio for Class R6 Shares is 0.58%.

The Fund Administrator, Sterling Capital Management LLC, has contractually agreed to waive its administrative fees, pay Fund operating expenses, and/or reimburse the Fund .05% of the Class R6 average daily net assets for the period February 1, 2021 through January 31, 2022. Performance would have been lower without limitations in effect.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit the performance summary.

The performance of the Behavioral International Equity Fund reflects the deduction of fees for value-added services associated with a mutual fund, such as investment management and fund accounting fees. The inception date for Class A Shares is 12.01.2014. The inception date for Class C Shares is 12.01.2014. The inception date for Class Inst'l Shares is 12.01.2014. The inception date for Class R6 Shares is 02.01.2018. The performance shown reflects the reinvestment of all dividend and capital gains distributions.

Characteristics

Top Ten Holdings as of 12.31.2023

# Company Name Value
1 Roche Holding 2.18%
2 Novartis AG 2.16%
3 BP PLC 1.38%
4 Deutsche Telekom AG 1.38%
5 Itochu 1.32%
6 Banco Bilbao Vizcaya 1.27%
7 Unicredit S.P.A. 1.25%
8 Stellantis NV 1.24%
9 Mitsubishi 1.21%
10 CIE Financiere Richemont SA 1.21%

Current and future portfolio holdings are subject to change and risk. Based on Market Value of securities.

Sector Allocation as of 12.31.2023

Allocations are based on the current weight to funds in the cited Sector. The composition of the fund's holdings is subject to change.

Country Allocations as of 12.31.2023

Country / Region Value
Total 100.00%
Japan 23.48%
France 12.25%
Switzerland 11.33%
Germany 9.37%
United Kingdom 8.18%
Australia 6.10%
Netherlands 4.85%
Spain 4.57%
Italy 4.32%
Sweden 3.06%
Israel 2.00%
Denmark 1.91%
Belgium 1.89%
Singapore 1.68%
Finland 1.10%
Austria 1.00%
Ireland 0.97%
Hong Kong 0.94%
Norway 0.78%
Bermuda 0.21%
Luxembourg 0.00%
New Zealand 0.00%
Portugal 0.00%
Macau 0.00%

Growth of $10,000 as of 12.31.2023

The Growth of $10,000 is hypothetical based upon the performance of net A Shares at NAV for the period ended 12.31.2023. It includes the reinvestment of dividends and capital gains.

Statistics

Summary Statistics as of 12.31.2023

Term Value
Weighted Median P/E 10.66
Weighted Average Market Cap $45.04B
Annual Turnover 78%

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