CIIRX — Clifford Capital International Value Fund
Data updated: 2024-12-13
CIIRX — Clifford Capital International Value Fund. Europe Mid Cap Value Equity · $5.34M AUM. Holdings, fees, performance and SEC filings.
CIIRX Fund Overview
CIIRX — Clifford Capital International Value Fund is a US mutual fund managed by World Funds Trust, categorised as Europe Mid 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: World Funds Trust
- Category: Europe Mid Cap Value Equity
- Assets under management: $5.34M
- 1-year return: 16.2%
- Ticker: CIIRX
- SEC CIK: 0001396092
- SEC series ID: S000075967
- Share class ID: C000235353
CIIRX Investment Objective and Strategy
Clifford Capital International Value 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 Clifford Capital International Value Fund (the International Value Fund) is long-term capital appreciation.
Principal investment strategy
To achieve its investment objective, the Fund invests primarily in equity securities of non-U.S. companies with a market capitalization of USD $10 billion or greater at time of original purchase that the Funds investment adviser, Clifford Capital Partners, LLC (the Adviser), believes are trading at a discount to what they are worth at the time of purchase and have the potential for capital appreciation with acceptable downside risks. The Adviser considers an issuer to be non-U.S. based if: (1) the issuer is organized under the laws of a jurisdiction other than those of the U.S.; (2) the securities of the issuer have a primary listing on a stock exchange outside the U.S. regardless of the country in which the issuer is organized; or (3) the issuer derives 50% or more of its total revenue from goods and/or services produced or sold outside of the U.S.
The Fund may invest up to 20% of the portfolio in securities of issuers located in emerging market countries. The Adviser uses a disciplined bottom-up selection process to identify equity securities of companies that appear to be selling at a discount to the Advisers assessment of their intrinsic value. To estimate a companys intrinsic value, the Adviser may employ a variety of analysis techniques that it deems appropriate for each individual company. Examples of such techniques include estimating a companys future financial results such as revenues, earnings, cash flows, or earnings before interest, taxes, depreciation and amortization (EBITDA) and then applying the Advisers estimate of a relevant price multiple that it will assign to these values based on the Advisers assessment of a normalized ratio (a ratio based on the companys and/or its industrys historical norms).
Examples of these types of ratios are price to sales, price to earnings, price to cash flow, or enterprise value to earnings before interest, taxes, depreciation and amortization or EV/EBITDA. Other techniques that may be used to estimate intrinsic value include: the Advisers estimate of a companys private market value; a fair value liquidation analysis; discounted cash flow analysis; or dividend discount models. The Adviser strives to buy stocks at a discount to intrinsic value, taking advantage of price dislocations caused by short-term investor orientation, herd influences and other irrational investor behavior. The Adviser also buys stocks at a discount resulting from the increasing market clout of passive investors and investors who rely on non-company-specific analysis, such as investors who trade funds and exchange-traded funds (ETFs) of entire sectors or industries rather than individual stocks.
These investment opportunities arise when, in the opinion of the Adviser, the expectations implied in a companys stock price are too low relative to the firms long-term earnings power or to its current assets. The overall portfolio construction is guided by a dynamic mix of two types of stocks: ? Core Value stocks investments in companies the Adviser believes are high-quality companies that earn high returns on capital. These stocks will represent 50-90% of the Funds holdings. ? Deep Value stocks opportunistic investments in companies the Adviser believes are deeply-undervalued. These stocks, plus the Funds cash holdings, will represent the remaining 10-50% of the Fund. The Fund will normally hold between 25 and 45 securities. The Adviser believes that maintaining a relatively small number of portfolio holdings allows each security to have a meaningful impact on the portfolios results.
The number of securities held by the Fund may occasionally differ from this range at times such as when the portfolio manager is accumulating new positions, phasing out and exiting positions, or responding to exceptional market conditions.
CIIRX Holdings
Top 10 holdings of Clifford Capital International Value Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Default | 4.18% |
| Default | 4.13% |
| Default | 4.12% |
| Banco Santan-ADR | 4.02% |
| Sanofie-ADR | 3.80% |
| Default | 3.70% |
| Default | 3.58% |
| Telefonica-ADR | 3.53% |
| Default | 3.42% |
| Ericsson Lm-ADR | 3.34% |
CIIRX Portfolio Allocation
Asset-class allocation of Clifford Capital International Value Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.0% |
| Cash & Equivalents | 2.4% |
CIIRX Performance
Total returns for CIIRX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 16.2% |
| 3 years (annualised) | 5.2% |
CIIRX Risk Information
Risk metrics for CIIRX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 16.0%
CIIRX Costs and Fees
CIIRX costs about $130 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.30%
- Gross expense ratio: 27.49%
- Portfolio turnover: 11%
- Brokerage commissions: 2.94 bps of average net assets (SEC N-CEN)
CIIRX Cashflows
Over the 12 months to 2024-09, Clifford Capital International Value Fund had net inflows of $76.68K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-09 | $99 |
| 2024-08 | $75 |
| 2024-07 | $124 |
| 2024-06 | $75 |
| 2024-05 | $124 |
| 2024-04 | $99 |
CIIRX Debt Constituents
No individual debt constituents are reported in Clifford Capital International Value Fund's latest SEC N-PORT filing.
CIIRX Prospectus and SEC Filings
Official Clifford Capital International Value Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-01-26
- Prospectus (485BPOS) — filed 2023-01-27
- Prospectus (485BPOS) — filed 2022-04-18
- Portfolio holdings (N-PORT) — filed 2024-11-04
- Portfolio holdings (N-PORT) — filed 2024-07-30
- Portfolio holdings (N-PORT) — filed 2024-05-30
- Annual census (N-CEN) — filed 2024-12-13
- Annual census (N-CEN) — filed 2023-12-14
Related Funds
Other Europe Mid Cap Value 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.