The Guinness Atkinson Dividend Builder Fund recently completed their 2nd Quarter Webcast with Portfolio Managers, Dr. Ian Mortimer and Mr. Matthew Page. Below you will find the replay along with a PDF download of the quarterly presentation.  

Download the Q2 2016 Presentation

 

 

For your convenience, we have summarized highlights from the call in the notes below:

  • In the second quarter of 2016, the Guinness Atkinson Dividend Builder Fund, ticker GAINX, outperformed its benchmark, with a total increase of 1.40% vs. the MSCI World Index, which was up 0.91%. See full Fund and benchmark performance figures in the Q2 2016 Fact Sheet. 
  • There were no portfolio changes during the 2nd quarter and the portfolio is currently trading at a discount to the broad market. The 2016 PE multiple is 16x vs. MSCI at 16.8x. 
  • The global equity markets were flat in the second quarter with big currency moves and post-Brexit concerns about European markets. Brexit did not have a big impact on our portfolio because we only own four UK companies and have 5% portfolio exposure. 
  • Even though we did not participate in the rally in materials and utilities our largest weighting to consumer staples contributed to our performance.
  • During the quarter, the top 5 performers were Largan Precision, Aflac, Royal Dutch Shell, Johnson & Johnson and Sonic Healthcare.
  • The bottom 5 performers were Li & Fund, Icap, H&R Block, WPP and Microsoft

 

Performance as of 6/30/16

YTD

1-Year

3-Years

5-Years

10-Years

Since Inception 3/30/12

Dividend Builder Fund

4.84%

1.06%

6.78%

N/A

N/A

9.05%

MSCI World Index

1.02%

-2.16%

7.59%

N/A

N/A

8.48%

 

Performance data quoted represents past performance; past performance does not guarantee future results. 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 their original cost. Current performance of the Fund may be lower or higher than the performance quoted. For performance current to most recent month end please visit www.gafunds.com. Total returns reflect a fee waiver in effect and in the absence of this waiver, the total returns would be lower. Index performance is not illustrative of fund performance. One cannot invest directly in an index.

The views expressed are those of the portfolio managers as of the date specified, are subject to change and may differ from other portfolio managers or the firm as a whole.  These opinions are not intended to be a forecast of future events, a guarantee of future results or investment advice. All data referenced are from sources believed to be reliable but cannot be guaranteed. Securities referenced should not be construed as a solicitation or recommendation or used as the sole basis for any investment decision.

Click Here to view Fund holdings.

Fund holdings and sector allocations are subject to change and are not recommendations to buy or sell any security. 

FOR INSTITUTIONAL USE ONLY. NOT FOR USE WITH THE RETAIL PUBLIC