Investment Professional
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Utility and Telecommunications Fund (EVUYX) 

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All data as of 10-31-18 unless otherwise noted.

NAV as of 12-12-18 Daily change Daily change
$22.83 $-0.03 -0.13%

1   Morningstar® Style Box

Ticker EVUYX
CUSIP 94985D459
Fund number 767
YTD return as of 12-12-18 9.73%
Fund inception date 1-4-94
Share class inception date 2-28-94
Net fund assets as of 12-12-18 385128726

Fund highlights

    • Selects stocks based on the evaluation of factors such as dividend payouts and profits, market share, competitive or technological advantages, potential merger activity, and the projected volatility of the company. From a broader macro perspective, the team considers the interest-rate environment, energy prices, and public policy issues. Through the assessment of both macroeconomic and company-specific factors, the fund seeks both yield and total return generation.
    • Chooses stocks based on a blended style of equity management. This allows the team to invest in companies that are undervalued, exhibiting either value characteristics—such as low price-to-earnings and low price-to-cash-flow multiples—or growth characteristics, including the potential for accelerated earnings growth.
    • Focus on utility and telecommunication stocks: Holdings are typically less correlated to the broader stock market than many other, more diversified equity funds while providing a higher level of income potential. A focus on utility and telecommunication stocks seeks to provide higher and more stable income production and a lower correlation of returns relative to the broader market. This creates the potential to reduce volatility within the context of an investor's diversified investment portfolio.
    • Flexible investment approach: The team can opportunistically allocate across the utilities or telecommunication services sectors, while seeking complementary allocations to other sectors. The team looks to recognize catalysts able to unlock value and maximize upside potential while seeking to manage downside risk. This flexible approach allows for greater return potential without losing sight of volatility risk.

    Management

    Timothy O'Brien, CFA
    35 years of investment experience

    Total returns (%)

        3 month Year to date 1 year 3 year 5 year 10 year Since inception
    Utility and Telecommunications Fund NAV 2.27 4.27 2.02 9.40 7.74 10.21 8.92
    NAV
    as of 9-30-18
    5.14 4.99 5.84 10.88 8.74 8.87 8.98
    S&P 500 TR -3.25 3.01 7.35 11.52 11.34 13.24 0.00
    S&P 500 Utilities Sector 2.48 4.72 1.00 10.93 10.65 10.62 0.00

    Three-month and year-to-date returns are not annualized.

    Figures quoted represent past performance, which is no guarantee of future results, and do not reflect taxes that a shareholder may pay on a fund. 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 their original cost. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains.

    Net asset value (NAV) is the value of one share of the fund excluding any sales charges.

    Institutional Class shares are sold without a front-end sales charge or contingent deferred sales charge.

    Does not include sales charges and assumes reinvestment of dividends and capital gains. If sales charges were included, returns would be lower.

    Stock values fluctuate in response to the activities of individual companies and general market and economic conditions. Bond values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. Changes in market conditions and government policies may lead to periods of heightened volatility in the bond market and reduced liquidity for certain bonds held by the fund. In general, when interest rates rise, bond values fall and investors may lose principal value. Interest-rate changes and their impact on the fund and its share price can be sudden and unpredictable. The use of derivatives may reduce returns and/or increase volatility. Funds that concentrate their investments in limited sectors, such as utilities and telecommunication services, are more vulnerable to adverse market, economic, regulatory, political, or other developments affecting those sectors. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). This fund is exposed to convertible securities risk, foreign investment risk, high-yield securities risk, nondiversification risk, smaller-company securities risk, and subsidiary risk. Consult the fund’s prospectus for additional information on these and other risks.

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