Cullen Emerging Markets High Dividend Fund

C000263314 Fund Overview

Cullen Emerging Markets High Dividend Fund is a US mutual fund managed by Cullen Funds Trust, categorised as Emerging Markets Large Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Cullen Funds Trust
• Category: Emerging Markets Large Cap Value Equity
• Assets under management: $2.22B
• SEC CIK: 0001109957
• SEC series ID: S000038162
• Share class ID: C000263314

C000263314 Investment Objective and Strategy

Cullen Emerging Markets High Dividend Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Cullen Funds Trust.

Investment objective

The Cullen Emerging Markets High Dividend Fund (the Emerging Markets High Dividend Fund or the Fund) seeks current income and long-term capital appreciation.

Principal investment strategy

The Emerging Markets High Dividend Fund invests, under normal circumstances, at least 80% of its net assets, plus borrowings for investment purposes, in high-dividend paying securities of companies across all capitalizations that are organized in, maintain at least 50% of their assets in, or derive at least 50% of their revenues from, emerging market countries. As a point of comparison, a high dividend paying common stock that the Emerging Markets High Dividend Fund would invest in would generally have a dividend yield greater than the average dividend yield of the equity securities in the MSCI Emerging Markets Index. An emerging market country is any country that has been determined by an international organization, such as the World Bank, to have a relatively low to middle income economy.

In selecting stocks, the Emerging Markets High Dividend Funds portfolio managers select companies that have growth potential, focusing on companies across all capitalizations. The Funds holdings may include issues denominated in currencies of emerging countries, investment companies (like country funds) which invest in emerging countries, American Depositary Receipts (ADRs), European Depositary Receipts (EDRs), Global Depositary Receipts (GDRs) and other similar instruments (ADRs, EDRs and GDRs are hereinafter collectively referred to as depositary receipts), and similar types of investments representing emerging markets securities. Depositary receipts may be purchased through sponsored or unsponsored facilities. A sponsored facility is established jointly by the issuer of the underlying security and a depositary, whereas a depositary may establish an unsponsored facility without participation by the issuer of the depositary security.

Holders of unsponsored depositary receipts generally bear all the costs of such facilities and the depositary of an unsponsored facility frequently is under no obligation to distribute shareholder communications received from the issuer of the deposited security or to pass through voting rights to the holders of such receipts. The Emerging Markets High Dividend Fund may invest in securities issued by other investment companies, including exchange-traded funds (ETFs), and may also invest in money market funds. The Emerging Markets High Dividend Fund intends to diversify its investments across different countries, and the percentage of the Emerging Markets High Dividend Funds assets invested in particular countries or regions will change from time to time based on the Advisers judgment. However, the Fund will not have more than 30% of its total assets invested as at the time of purchase in securities of any one country.

The Emerging Markets High Dividend Fund generally invests substantially all of its assets in common stocks and depositary receipts but can invest in other equity securities, which can include convertible debt, exchange-traded funds (ETFs) that invest primarily in equity securities, warrants, rights, equity interests in real estate investment trusts (REITs), equity interests in master limited partnerships (MLPs), and preferred stocks. The Emerging Markets High Dividend Fund invests roughly the same amount of its assets in each position in the portfolio at the time of original purchase, although the portfolio is not systematically rebalanced. This approach avoids the overweighting of any individual security being purchased. The Adviser may sell portfolio stocks when they are no longer attractive based on their growth potential, dividend yield or price.

As part of its strategy, the Emerging Markets High Dividend Fund, in order to generate additional income, will selectively write covered call options when it is deemed to be in the Funds best interest. A call option is a short-term contract entitling the purchaser, in return for a premium paid, the right to buy the underlying equity security at a specified price upon exercise of the option at any time prior to its expiration. Writing a covered call option allows the Emerging Markets High Dividend Fund to receive a premium. A call option gives the holder the right, but not the obligation, to buy the underlying equity stock from the writer of the option at a given price during a specific period. The Emerging Markets High Dividend Fund will not engage in derivatives except to the extent that either (1) the writing of covered call options, and or (2) participatory notes, is deemed to involve derivatives.

C000263314 Holdings

Top 10 holdings of Cullen Emerging Markets High Dividend Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000263314 holdings

C000263314 Portfolio Allocation

Asset-class allocation of Cullen Emerging Markets High Dividend Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000263314 Performance

Total returns for C000263314 (as of 2026-10-01), from SEC filings.

C000263314 Costs and Fees

C000263314 costs about $90 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.90%
• Gross expense ratio: 1.22%
• Portfolio turnover: 118%
• Brokerage commissions: 32.49 bps of average net assets (SEC N-CEN)

C000263314 Cashflows

Over the 12 months to 2026-06, Cullen Emerging Markets High Dividend Fund had net inflows of $519.93M, from monthly SEC N-PORT filings.

C000263314 Debt Constituents

No individual debt constituents are reported in Cullen Emerging Markets High Dividend Fund's latest SEC N-PORT filing.

C000263314 Prospectus and SEC Filings

Official Cullen Emerging Markets High Dividend Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2025-10-29
• Prospectus (485BPOS) — filed 2025-08-05
• Prospectus (485BPOS) — filed 2024-10-28
• Portfolio holdings (N-PORT) — filed 2026-08-24
• Portfolio holdings (N-PORT) — filed 2026-05-28
• Portfolio holdings (N-PORT) — filed 2026-02-26
• Annual census (N-CEN) — filed 2026-09-11
• Annual census (N-CEN) — filed 2025-09-04

Related Funds

Other Emerging Markets Large Cap Value Equity funds tracked on ABC INVEST:

• Lazard Emerging Markets Equity Portfolio (LZOEX)
• T. Rowe Price Emerging Markets Value Stock Fund (PRIJX)
• ARGA Emerging Markets Value Fund (ARMVX)
• Cambria Global Value ETF (GVAL)
• Virtus SGA Emerging Markets Equity Fund (HEMZX)

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.