CNRYX — Fiera Capital Emerging Markets Fund
Data updated: 2021-08-24
CNRYX — Fiera Capital Emerging Markets Fund. China Blend / Core Equity · $677.20M AUM · 1.36% expense ratio. Holdings, fees, performance and SEC filings.
CNRYX Fund Overview
CNRYX — Fiera Capital Emerging Markets Fund is a US mutual fund managed by Fiera Capital Series Trust, categorised as China 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: Fiera Capital Series Trust
- Category: China Blend / Core Equity
- Assets under management: $677.20M
- 1-year return: 43.8%
- Ticker: CNRYX
- SEC CIK: 0001691994
- SEC series ID: S000058045
- Share class ID: C000190033
CNRYX Investment Objective and Strategy
Fiera Capital Emerging Markets Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Fiera Capital Series Trust.
Investment objective
The Fund seeks to achieve long-term capital appreciation.
Principal investment strategy
Fiera Capital Inc. (the Adviser) seeks to achieve the Funds investment objective by investing in a portfolio of emerging market equities. The Fund may invest in issuers with market capitalizations of any size. Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in equity securities (including, but not limited to, common stocks, participatory notes, preferred stocks and warrants) of companies operating principally in emerging market countries. The Fund considers a company to be operating principally in an emerging market if: (i) its securities are primarily listed on the trading market of an emerging market country; (ii) the company is incorporated or has its principal business activities in an emerging market country; (iii) the company derives 50% or more of its revenues from, or has 50% or more of its assets in, an emerging market country; or (iv) its securities are included in the Morgan Stanley Capital International (MSCI) Emerging Markets Index.
The Fund considers a country to be an emerging market country if: (x) it has been determined by an international organization, such as the World Bank, to have a low to middle income economy; (y) it is not included in the MSCI World Index, which measures the equity market performance of developed markets; or (z) it is represented in the MSCI Emerging Markets Index. The Fund may also gain exposure to such companies through investment in depositary receipts. The Fund also invests in participatory notes, which are debt obligations that are issued or backed by banks and broker-dealers and are designed to replicate equity market exposure in certain markets where direct investment is difficult due to local investment restrictions. In the Reorganization (defined below), the Predecessor Fund transferred to the Fund ownership of its wholly owned, collective investment vehicle, registered with and regulated by the Mauritius Financial Services Commission (the Mauritius Subsidiary).
The Mauritius Subsidiary is registered as a Foreign Portfolio Investor (FPI) in India and makes investments in Indian securities. Taking ownership of the Mauritius Subsidiary was considered by the Adviser to be the most efficient approach from a commercial, operational and regulatory standpoint for transferring the beneficial ownership of the Indian securities from the Predecessor Fund to the Fund. The Funds future investments in India may continue to be made by the Mauritius Subsidiary, subject to the discretion of the Adviser. The Fund may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector. From time to time, the Fund may focus its investments in certain countries or geographic areas, including Asia.
The Fund may invest a large percentage of its assets in just a few sectors, just a few regions or just a few emerging market countries, such as China and India. The Fund is non-diversified which means that it may invest a greater amount of its assets in the securities of a single issuer or a small number of issuers than a diversified fund. The Fund may invest up to 20% of its assets in cash or its investment equivalent. In selecting the Funds investments, the Adviser first employs a proprietary macro analytical process focused on long-term growth opportunities in emerging market countries through identifying attractive investment themes in emerging markets. Then, in selecting specific companies, the Adviser uses quantitative and fundamental analysis to identify individual companies that the Adviser believes meet the Funds investment objective.
Specifically, the Adviser seeks to invest in companies that are believed to be well managed, with consumer driven demand, above average revenue and earnings growth potential, have a unique or improving market position and possess competitive advantages. The Adviser may determine to sell a security under several circumstances, such as when its target value is realized, when the companys earnings deteriorate, when more attractive investment alternatives are identified, or when it wishes to raise cash.
CNRYX Performance
Total returns for CNRYX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 43.8% |
| 3 years (annualised) | 19.0% |
CNRYX Risk Information
Risk metrics for CNRYX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 14.1%
CNRYX Costs and Fees
CNRYX costs about $136 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.36%
- Gross expense ratio: 1.36%
- Portfolio turnover: 47%
- Brokerage commissions: 36.35 bps of average net assets (SEC N-CEN)
CNRYX Cashflows
Over the 12 months to 2021-06, Fiera Capital Emerging Markets Fund had net inflows of $2.32B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2021-06 | $26.03M |
| 2021-05 | $29.69M |
| 2021-04 | $20.61M |
| 2021-03 | $775.36M |
| 2021-02 | $713.56M |
| 2021-01 | $283.52M |
CNRYX Debt Constituents
No individual debt constituents are reported in Fiera Capital Emerging Markets Fund's latest SEC N-PORT filing.
CNRYX Prospectus and SEC Filings
Official Fiera Capital Emerging Markets Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-08-19
- Prospectus (485BPOS) — filed 2019-08-12
- Prospectus supplement (497) — filed 2021-04-15
- Portfolio holdings (N-PORT) — filed 2021-08-24
- Portfolio holdings (N-PORT) — filed 2021-05-27
- Portfolio holdings (N-PORT) — filed 2021-02-25
- Annual census (N-CEN) — filed 2021-06-14
- Annual census (N-CEN) — filed 2020-06-12
Related Funds
Other China 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.