Mexico3.0% Consumer Discretionary28.4% Information Technology25.1% Health Care13.9% Consumer Staples12.3% Financials7.1% Industrials3.9% Energy1.9% Unassigned0.6% Cash and Cash Equivalents6.8% Software & Services25.1% Consumer Services13.1% Retailing12.0% Food, Beverage & Tobacco9.3% Pharma, Biotech & Life Sciences8.8% Health Care Equipment & Services5.0% Diversified Financials5.0% Consumer Durables & Apparel2.5% Household & Personal Products2.4% Commercial & Professional Services2.2%
|% OF PORTFOLIO|
|Galaxy Entertainment Group Ltd.||2.9%|
|Domino's Pizza Group plc||2.2%|
|Just Eat plc||2.2%|
|Auto Trader Group plc||2.2%|
Galaxy Entertainment is one of six casino operators with a license to operate in Macau. The company operates two flagship properties at the moment: Galaxy Macau and Starworld and is in the process of doubling the size of Galaxy Macau through Phase 2 expansion on the Cotai Peninsula.
The majority of Macau casino customers originate from China and Hong Kong with most of the revenue currently driven by the VIP market. The mass market opportunity though is increasing with rising wealth in China and infrastructure projects that enable easier access into Macau. Galaxy is well positioned to capture this incremental share.
Bayerische Motoren Werke AG engages in the manufacture and sale of automobiles and motorcycles. The company operates its business through the following segments: Automotive, Motorcycles and Financial Services. The Automotive segment develops, manufactures, assembles, and sells cars and off-road vehicles, under the following brands: BMW, MINI and Rolls-Royce, as well as spare parts and accessories. The Motorcycles segment develops, produces, assembles, and markets BMW and Husqvarna brand motorcycles, as well as spare parts and accessories. The Financial Services segment includes car leasing, fleet business, retail customer and dealer financing, customer deposit business, and insurance activities. Bayerische Motoren Werke was founded on March 6, 1916 and is headquartered in Munich, Germany.
Wirecard AG offers internet payment and processing services. The Company provides software and systems for online payment, electronic funds transfer, fraud protection, and enterprise solutions. As credit and debit transactions continue to take share from cash and checks, ecommerce and mobile payments should benefit.
Worldpay Group Plc engages in global payment solutions. It operates through the following business divisions: global ecommerce, Worldpay UK, and Worldpay U.S. The global ecommerce division provides a range of online and mobile multi-currency payment acceptance, validation, and settlement services. The Worldpay UK division offers in-store, phone, online, and mobile payment acceptance solutions. The Worldpay U.S. division includes in-store, online, and mobile payment acceptance solutions for United States-based merchants, with a focus on developing omni-chanel and integrated payment solutions. The company is headquartered in London, the United Kingdom.
YOOX Net-A-Porter SpA engages in the fashion electronic commerce business. It operates through the Multi-brand and Mono-brand segments. The Multi-brand segment includes activities relating to the multi-brand online stores yoox.com, thecorner.com, and shoescribe.com. The Mono-brand segment comprises the exclusive design, creation and management of the online stores of some of the top global fashion brands. The company was founded by Federico Marchetti on February 4, 2000 and is headquartered in Zola Predosa, Italy.
Domino's Pizza Group holds the exclusive master franchise to own, operate and franchise Domino's Pizza stores in the U.K., Ireland, and Germany. The company manages a base of over 800 stores, mainly in the U.K. and Ireland. The company is the leading operator in the UK pizza delivery market and has exhibited consistent growth and margin expansion as it expands in a still relatively under penetrated market.
Auto Trader Group Plc engages in the operation of an online procurement site for automotives. It sells cars, bikes, vans, motor homes, caravans, and trucks. It also offers automotive insurance products. The company was founded in 1977 and is headquartered in Manchester, United Kingdom.
Edenred SA engages in the provision of prepaid corporate services that improve the efficiency of organization and purchasing power of individuals. Its solutions include employee benefits, expense management, incentive and rewards programs, and social benefit programs. The company was founded on December 14, 2006 and is headquartered in Malakoff, France.
|Portfolio P/E Trailing 12 Months*||20.8x|
|Portfolio Price to Cash Flow*||19.7x|
|Portfolio Price to Book*||4.6x|
|Median Market Capitalization*||$14.6 B|
|Number of Holdings||55|
|7-Year Beta* (A shares vs. MSCI AC World ex-U.S. Growth Index)||0.88|
|Emerging Markets Exposure||20.7%|
|Active Share* (vs. MSCI AC World ex-U.S. Growth Index)||89.3%|Consistent Growth29.8% Growth Industry Leaders32.4% Emerging Growth31.1% Cash & Cash Equivalents6.8% Large Cap (> $12 B)66.3% Mid Cap ($2.5 to $12 B)26.0% Small Cap (< $2.5 B)7.8%