Empower Core Strategies: International Equity Fund
Data updated: 2026-08-20
C000204666 — Empower Core Strategies: International Equity Fund. Holdings, fees, performance and SEC filings.
C000204666 Fund Overview
Empower Core Strategies: International Equity Fund is a US mutual fund managed by Empower Funds, Inc., categorised as Europe Large Cap Blend / Core Information Technology Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Empower Funds, Inc.
- Category: Europe Large Cap Blend / Core Information Technology Equity
- Assets under management: $1.15B
- 1-year return: 1.2%
- SEC CIK: 0000356476
- SEC series ID: S000061891
- Share class ID: C000204666
C000204666 Investment Objective and Strategy
Empower Core Strategies: International Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Empower Funds, Inc..
Investment objective
The Fund seeks long-term growth of capital.
Principal investment strategy
Below is a summary of the principal investment strategies of the Fund. The Fund will, under normal circumstances, invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities of issuers economically tied to countries other than the U.S., including those in emerging markets. The Fund may have significant investments in a single country, a limited number of countries, or a particular geographic region. The Fund may have exposure to non-U.S. securities across any market capitalization and style, and may also focus its investments in certain sectors, such as the financial sector. The issuer of a security or other investment is generally deemed to be economically tied to a particular country other than the U.S. if: (1) the security or other investment is issued or guaranteed by the government of that country or any of its agencies, authorities or instrumentalities; (2) the issuer is organized under the laws of that country; (3) the issuer maintains a principal office in that country; (4) the issuer has its principal securities trading market in that country; (5) the issuer derives 50% or more of its total revenues from goods sold or services performed in that country; (6) the issuer has 50% or more of its assets in that country; or (7) the issuer is included in an index that is representative of that country.
Equity securities include common stock and other investment instruments such as depositary receipts and exchange-traded funds (ETFs) that track the return of a broad-based international securities index. The Fund may also invest in derivatives, including but not limited to futures contracts and forward foreign currency contracts. Empower Capital Management, LLC (ECM) is the Funds investment adviser and, subject to the approval of the Board of Directors of Empower Funds (the Board), selects the Funds sub-advisers and monitors their performance on an ongoing basis. The Funds investment portfolio is managed by three sub-advisers: Keyridge Asset Management Limited (Keyridge), formerly known as Irish Life Investment Managers Limited; Lazard Asset Management LLC (Lazard); and LSV Asset Management (LSV) (each, a Sub-Adviser, and collectively, the Sub-Advisers).
Keyridge utilizes a passive investment strategy designed to track, as closely as possible, the performance of the MSCI EAFE Index by investing in the common stocks of each company in the MSCI EAFE Index in approximately the same proportion as their weighting in the MSCI EAFE Index. Lazard invests primarily in equity securities of what it considers to be quality growth businesses that can generate and sustain high levels of financial productivity and grow profits and cash flows by investing back into their businesses at similarly high rates of financial productivity. Lazard generally focuses on investing in securities of companies with a market capitalization of $3 billion or more. LSV generally focuses on investing in securities of companies that it believes are undervalued in the marketplace at the time of purchase and show recent positive signals, such as an appreciation in price and increase in earnings.
LSV uses a quantitative investment model to make investment decisions, ranking securities based on fundamental measures of value and indicators of near-term recovery. ECM maintains a strategic allocation of the Funds assets with each Sub-Adviser and reviews the asset allocations on a quarterly basis, or more frequently as deemed necessary. As of the date of this Prospectus, the target percentage is a 50% allocation of the Funds assets to Keyridge, a 25% allocation of the Funds assets to Lazard, and a 25% allocation of the Funds assets to LSV. Actual allocations may vary from the target allocations and ECM may change the asset allocations at any time without shareholder notice or approval.
C000204666 Holdings
Top 10 holdings of Empower Core Strategies: International Equity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Asml Holding NV | 2.53% |
| Novartis AG | 1.35% |
| Novo Nordisk A/s | 1.35% |
| Taiwan Semiconductor Manufacturing Company Ltd. | 1.13% |
| Hsbc Holdings PLC | 1.05% |
| Unilever PLC | 1.02% |
| Roche Holding AG | 0.91% |
| Shell PLC | 0.89% |
| Tencent Holdings Ltd. | 0.85% |
| Recruit Holdings Co. Ltd. | 0.84% |
C000204666 Portfolio Allocation
Asset-class allocation of Empower Core Strategies: International Equity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.1% |
| Fixed Income | 0.8% |
| Derivatives | 0.3% |
C000204666 Performance
Total returns for C000204666 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 1.2% |
C000204666 Risk Information
Risk metrics for C000204666, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 23.3%
C000204666 Costs and Fees
C000204666 costs about $125 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.25%
- Gross expense ratio: 1.42%
- Portfolio turnover: 42%
- Brokerage commissions: 2.90 bps of average net assets (SEC N-CEN)
C000204666 Cashflows
Over the 12 months to 2026-06, Empower Core Strategies: International Equity Fund had net outflows of $561.20M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $23.49M |
| 2026-05 | −$9.08M |
| 2026-04 | −$14.51M |
| 2026-03 | −$18.14M |
| 2026-02 | −$30.93M |
| 2026-01 | −$25.85M |
C000204666 Debt Constituents
Largest debt holdings of Empower Core Strategies: International Equity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States Of America - Bureau Of The Public Debt | 0.75% |
C000204666 Prospectus and SEC Filings
Official Empower Core Strategies: International Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-30
- Prospectus (485BPOS) — filed 2025-04-25
- Prospectus (485BPOS) — filed 2024-04-25
- Portfolio holdings (N-PORT) — filed 2026-08-20
- Portfolio holdings (N-PORT) — filed 2026-05-20
- Portfolio holdings (N-PORT) — filed 2026-02-13
- Annual census (N-CEN) — filed 2026-03-13
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other Europe Large Cap Blend / Core Information Technology 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.