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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 06.30.2024

Term QTR YTD 1 Year 3 Years 5 Years Since Inception
A Shares with 5.75% Sales Charge -7.34% -1.09% 6.21% 1.84% 2.75% 2.72%
A Shares without Sales Charge -1.68% 4.94% 12.74% 3.87% 3.97% 3.35%
Institutional Shares -1.58% 5.05% 13.02% 4.14% 4.22% 3.59%
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 03.31.2024

# Company Name Value
1 Novartis Ag 2.08%
2 Sanofi Sa 1.55%
3 Mitsubishi Corp 1.48%
4 Stellantis Nv 1.42%
5 Banco Bilbao Vizcaya Argent 1.41%
6 GSK Plc 1.39%
7 AXA Sa 1.36%
8 Unicredit S.P.A. 1.35%
9 Intesa Sanpaolo S.P.A. 1.35%
10 Mitsui & Co., Ltd. 1.33%

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

Sector Allocation as of 03.31.2024

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 03.31.2024

Country / Region Value
Total 100.00%
Japan 22.89%
France 13.84%
United Kingdom 11.35%
Germany 9.73%
Switzerland 7.32%
Netherlands 6.07%
Australia 5.29%
Italy 4.54%
Spain 4.34%
Hong Kong 2.55%
Sweden 2.20%
Denmark 2.02%
Israel 1.84%
Singapore 1.39%
Finland 1.25%
Belgium 1.16%
Luxembourg 0.92%
Norway 0.68%
Ireland 0.43%
Bermuda 0.18%
New Zealand 0.00%
Portugal 0.00%
Macau 0.00%
Austria 0.00%

Growth of $10,000 as of 03.31.2024

The Growth of $10,000 is hypothetical based upon the performance of net A Shares at NAV for the period ended 03.31.2024. It includes the reinvestment of dividends and capital gains.

Statistics

Summary Statistics as of 03.31.2024

Term Value
Weighted Median P/E 11.09
Weighted Average Market Cap $39.95B
Annual Turnover 85%

Equity Funds

Insights

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07.02.2024

Sterling Capital Management LLC joins Guardian Capital Group Limited

Sterling Capital Management LLC announced today the completion of its acquisition by Guardian Capital LLC, a wholly-owned subsidiary of global asset manager Guardian Capital Group Limited.

07.02.2024

Sterling Capital joins Guardian Capital Group Limited

“We are thrilled to announce the completion of Sterling’s acquisition by Guardian Capital Group, a global asset manager. We are also thankful to join an organization that shares our culture and values in protecting our clients’ assets - and we are truly excited for our bright future together!” – Scott Haenni, Sr. Managing Director & CEO at Sterling Capital Management

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06.27.2024 • Jeffrey Ormsby, CFA®

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As one would expect, in most historical periods where interest rates were declining, fixed income total return has been good, with investors capturing the coupon income as well as benefiting from the increase in prices as rates fall. Looking at the history of the Bloomberg Aggregate Bond Index since 1988, in the previous five Federal Reserve (Fed) rate-cutting cycles, the index posted annualized returns averaging north of 8%.

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06.13.2024 • Andrew Richman, CTFA

When It Comes to Fed Policy, Follow the Data, Not the Dots

Andy Richman's update on the June Federal Open Market Committee meeting.

06.05.2024 • Charles Wittmann, CFA®

The Lead - "An Indicator of Business Confidence"

- Several notable companies have elected to inaugurate a quarterly dividend this year, while 47 companies in the U.S. stopped paying dividends during the COVID-19 crisis and have yet to reinstitute one. Why? - We would suggest it comes down to the ability to pay an ever-increasing dividend alongside their confidence in their business’s future. - In the current period of fewer dividend initiations, slower dividend growth in the market, and household names cutting their dividends, we believe there are several lessons to learn.

Contact

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