AFVDX — Applied Finance Dividend Fund
Data updated: 2020-09-17
AFVDX — Applied Finance Dividend Fund. Europe Value Financials Equity · $5.81M AUM · 0.76% expense ratio. Holdings, fees, performance and SEC filings.
AFVDX Fund Overview
AFVDX — Applied Finance Dividend Fund is a US mutual fund managed by World Funds Trust, categorised as Europe Value Financials Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: World Funds Trust
- Category: Europe Value Financials Equity
- Assets under management: $5.81M
- Ticker: AFVDX
- SEC CIK: 0001396092
- SEC series ID: S000046320
- Share class ID: C000144751
AFVDX Investment Objective and Strategy
Applied Finance Dividend Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by World Funds Trust.
Investment objective
The investment objective of the Toreador International Fund (the ?International Fund?) is capital appreciation.
Principal investment strategy
"The International Fund seeks to achieve its investment objective by investing in a diversified portfolio consisting primarily of equity securities. Under normal market conditions, the International Fund will invest at least 80% of its net assets in securities of companies located outside the United States. This investment policy may be changed by the International Fund upon 60 days? prior notice to shareholders. Equity securities consist of common stock, depositary receipts, and securities convertible into common stock, such as warrants, rights, convertible bonds, debentures and convertible preferred stocks. The International Fund may invest in securities of companies in emerging and developing markets. The foreign securities the International Fund purchases may not always be purchased on the principal market.
For example, depositary receipts may be purchased if trading conditions make them more attractive than the underlying security. Depositary receipts include securities such as American Depositary Receipts (""ADRs""), European Depositary Receipts (""EDRs""), Global Depositary Receipts (""GDRs"") and Registered Depositary Certificates (""RDCs""). ADRs are securities, typically issued by a U.S. financial institution (a ""depositary""), that represent ownership interests in a security or a pool of securities issued by a foreign issuer and deposited with the depositary. GDRs and EDRs are securities that represent ownership interests in a security or pool of securities issued by a foreign or U.S. corporation. Depositary receipts may be available through ""sponsored"" or ""unsponsored"" facilities.
A sponsored facility is established jointly by the issuer of the security underlying the receipt and the depositary, whereas an unsponsored facility is established by the depositary without participation by the issuer of the underlying security. The market value of depositary receipts is dependent on the market value of the underlying securities, and fluctuations in the relative value of the currencies in which the depositary receipts and the underlying securities are quoted. In addition to the equity securities described above, the International Fund may also invest in shares of other registered investment companies, such as closed-end investment companies and ETFs. ETFs, generally, are investment companies that seek to track the performance of a particular market index. These investment companies invest in securities that are consistent with the International Fund's investment objective and strategies.
By investing in other investment companies, the International Fund indirectly pays a portion of the expenses and brokerage costs of these companies as well as its own expenses. Also, federal securities laws impose limits on such investments, which may affect the ability of the International Fund to purchase or sell these shares. Securities of other investment companies will be acquired by the International Fund within the limits contained in the 1940 Act. In selecting securities for the International Fund, the Adviser emphasizes fundamental company-by-company analysis in conjunction with a broader analysis of specific sectors. When relevant, however, the Adviser may consider historical value measures, such as price/earnings ratios, operating profit margins and liquidation values. The primary factor in selecting securities for investment by the International Fund will be the company's current price relative to its long-term earnings potential, or intrinsic value as determined using the Adviser?s proprietary valuation techniques, whichever are appropriate.
In addition, the Adviser may consider overall growth prospects, competitive positions in export markets, technologies, research and development, productivity, labor costs, raw material costs and sources, profit margins, returns on investment, capital resources, state regulation, management and other factors in comparison to other companies around the world which the Adviser believes are comparable. In determining which portfolio securities to sell, the Adviser may consider, but is not limited to, the following: (1) if a security appreciates such that, as a total percentage of the International Fund's portfolio, it becomes too large; (2) if the sector or security appears to be under-performing; (3) if the company?s management appears to be engaging in conduct not in the best interest of public shareholders; (4) if it is necessary to sell loss positions in order to reduce taxable gains to International Fund shareholders reflected in earlier sales of positions with gains; and (5) if it is necessary to raise funds to cover redemptions."
AFVDX Costs and Fees
AFVDX costs about $76 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.76%
- Gross expense ratio: 1.67%
- Portfolio turnover: 43%
- Brokerage commissions: 16.08 bps of average net assets (SEC N-CEN)
AFVDX Cashflows
Over the 12 months to 2020-07, Applied Finance Dividend Fund had net outflows of $2.71M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-07 | −$1.33M |
| 2020-06 | −$124.73K |
| 2020-05 | −$162.02K |
| 2020-04 | −$1.18M |
| 2020-03 | −$132.31K |
| 2020-02 | $210.91K |
AFVDX Debt Constituents
No individual debt constituents are reported in Applied Finance Dividend Fund's latest SEC N-PORT filing.
AFVDX Prospectus and SEC Filings
Official Applied Finance Dividend Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2018-09-18
- Prospectus supplement (497) — filed 2019-09-17
- Prospectus supplement (497) — filed 2018-02-14
- Portfolio holdings (N-PORT) — filed 2020-09-17
- Portfolio holdings (N-PORT) — filed 2020-06-25
- Annual census (N-CEN) — filed 2020-07-14
- Annual census (N-CEN) — filed 2019-07-15
Related Funds
Other Europe Value Financials Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.