AXA/Templeton Global Equity Managed Volatility Portfolio

Data updated: 2020-08-25

C000104205 — AXA/Templeton Global Equity Managed Volatility Portfolio. Emerging Markets Blend / Core Equity. Holdings, fees, performance and SEC filings.

C000104205 Fund Overview

AXA/Templeton Global Equity Managed Volatility Portfolio is a US mutual fund managed by Eq Advisors Trust, categorised as Emerging Markets Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: Eq Advisors Trust
Category: Emerging Markets Blend / Core Equity
SEC CIK: 0001027263
SEC series ID: S000013254
Share class ID: C000104205

C000104205 Investment Objective and Strategy

AXA/Templeton Global Equity Managed Volatility Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Eq Advisors Trust.

Investment objective

Seeks to achieve long-term capital growth with an emphasis on risk-adjusted returns and managing volatility in the Portfolio.

Principal investment strategy

The Portfolios assets normally are allocated between two investment managers, each of which will manage its portion of the Portfolio using a different but complementary investment strategy. One portion of the Portfolio is actively managed by a Sub-Adviser (Active Allocated Portion); the other portion of the Portfolio seeks to track the performance of a particular index or indices (Index Allocated Portion). Under normal circumstances, the Portfolio invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities (or other financial instruments that derive their value from such securities). The Portfolio normally will invest a significant portion of its assets in foreign securities. The Active Allocated Portion will consist of approximately 50% of the Portfolios net assets; the Index Allocated Portion will consist of approximately 50% of the Portfolios net assets.

These percentages are targets established by the Adviser; actual allocations may deviate from these targets. Under normal circumstances, the Active Allocated Portion invests primarily in equity securities, including common stocks and preferred stocks, of companies located anywhere in the world, including emerging markets. The Active Allocated Portion may invest up to 25% of its total assets in debt securities of companies and governments located anywhere in the world. Debt securities include bonds, notes and debentures. Although the Active Allocated Portion seeks investments across a number of countries and sectors, from time to time, based on economic conditions, the Active Allocated Portion may have significant positions in particular countries or sectors. When choosing equity investments for the Active Allocated Portion, the Sub-Adviser to the portion applies a bottom-up value-oriented, long-term approach.

The Sub-Adviser may sell a security for a variety of reasons, such as to invest in a company believed by the Sub-Adviser to offer superior investment opportunities. The Index Allocated Portion of the Portfolio is comprised of two strategies, which seek to track the performance (before fees and expenses) of the Standard & Poors 500 Composite Stock Index (the S&P 500) and the Morgan Stanley Capital International EAFE Index (MSCI EAFE), respectively, each with minimal tracking error. The Index Allocated Portions assets will be allocated in approximately the following manner: 40-60% in each of the S&P 500 and MSCI EAFE. This strategy is commonly referred to as an indexing strategy. Generally, each portion of the Index Allocated Portion uses a full replication technique, although in certain instances a sampling approach may be utilized for a portion of the Index Allocated Portion.

Each portion of the Index Allocated Portion also may invest in other instruments, such as futures and options contracts, that provide comparable exposure as the index without buying the underlying securities comprising the index. AXA Equitable Funds Management Group, LLC (FMG LLC or the Adviser) also may utilize futures and options, such as exchange-traded futures and options contracts on securities indices, to manage equity exposure. Futures and options can provide exposure to the performance of a securities index without buying the underlying securities comprising the index. They also provide a means to manage the Portfolios equity exposure without having to buy or sell securities. When market volatility is increasing above specific thresholds set for the Portfolio, the Adviser may limit equity exposure either by reducing investments in securities, shorting or selling long futures and options positions on an index, increasing cash levels, and/or shorting an index.

During such times, the Portfolios exposure to equity securities may be significantly less than that of a traditional equity portfolio. Volatility is a statistical measure of the magnitude of changes in the Portfolios returns, without regard to the direction of those changes. Higher volatility generally indicates higher risk and is often reflected by frequent and sometimes significant movements up and down in value. Volatility management techniques may reduce potential losses and/or mitigate financial risks to insurance companies that provide certain benefits and guarantees available under the Contracts and offer the Portfolio as an investment option in their products. The Portfolio may invest up to 25% of its assets in derivatives. It is anticipated that the Portfolios derivative instruments will consist primarily of exchange-traded futures and options contracts on securities indices, but the Portfolio also may utilize other types of derivatives.

The Portfolios investments in derivatives may be deemed to involve the use of leverage because the Portfolio is not required to invest the full market value of the contract upon entering into the contract but participates in gains and losses on the full contract price. The use of derivatives also may be deemed to involve the use of leverage because the heightened price sensitivity of some derivatives to market changes may magnify the Portfolios gain or loss. It is not generally expected, however, that the Portfolio will be leveraged by borrowing money for investment purposes. The Portfolio may maintain a significant percentage of its assets in cash and cash equivalent instruments, some of which may serve as margin or collateral for the Portfolios obligations under derivative transactions. The Portfolio also may lend its portfolio securities to earn additional income.

C000104205 Costs and Fees

C000104205 costs about $85 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.85%
Gross expense ratio: 0.89%
Portfolio turnover: 13%
Brokerage commissions: 2.19 bps of average net assets (SEC N-CEN)

C000104205 Cashflows

Over the 12 months to 2020-06, AXA/Templeton Global Equity Managed Volatility Portfolio had net outflows of $275.16M, from monthly SEC N-PORT filings.

Month	Net flow
2020-06	−$254.72M
2020-05	−$5.59M
2020-04	−$7.52M
2020-03	−$8.07M
2020-02	−$7.53M
2020-01	−$8.37M

C000104205 Debt Constituents

No individual debt constituents are reported in AXA/Templeton Global Equity Managed Volatility Portfolio's latest SEC N-PORT filing.

C000104205 Prospectus and SEC Filings

Official AXA/Templeton Global Equity Managed Volatility Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Emerging Markets Blend / Core 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.