FCEMX — Frontier Caravan Emerging Markets Fund
Data updated: 2020-11-25
FCEMX — Frontier Caravan Emerging Markets Fund. China Large Cap Blend / Core Equity · $19.51M AUM. Holdings, fees, performance and SEC filings.
FCEMX Fund Overview
FCEMX — Frontier Caravan Emerging Markets Fund is a US mutual fund managed by Mfg Funds, Inc., categorised as China Large Cap 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: Mfg Funds, Inc.
- Category: China Large Cap Blend / Core Equity
- Assets under management: $19.51M
- 1-year return: -3.0%
- Ticker: FCEMX
- SEC CIK: 0001014913
- SEC series ID: S000066315
- Share class ID: C000214112
FCEMX Investment Objective and Strategy
Frontier Caravan Emerging Markets Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Mfg Funds, Inc..
Investment objective
The investment objective of the Frontier Caravan Emerging Markets Fund (the Fund) is long-term capital appreciation.
Principal investment strategy
Under normal market conditions, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in the equity securities of emerging market companies. The Fund invests primarily in common stocks, preferred stock, American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs). Caravan Capital Management, LLC, the Funds subadviser (Caravan), defines emerging markets as those countries included in the MSCI Emerging Markets Index. As of August 31, 2020, emerging markets in this index include Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and the United Arab Emirates. The countries that comprise emerging markets may change from time to time as the index is reconstituted.
The Fund may invest up to 20% of its net assets in companies located in markets other than emerging markets. For example, the Fund may invest in companies located in frontier markets that Caravan expects may graduate to emerging market status through inclusion in the MSCI Emerging Markets Index in the near future. Caravan defines frontier markets as those countries included in the MSCI Frontier Markets Index. The Fund may invest in companies of any size. The Fund will concentrate its investments in the banking industry. As a result, under normal market conditions, the Fund will invest at least 25% of its total assets in securities issued by companies in the banking industry. The Fund does not focus in securities of any individual country as part of its principal investment strategy. Caravan imposes a cap on the Funds investments in any single country to reduce the Funds country concentration risk.
The Fund is expected to have significant investments in the securities of companies operating in China because issuers in China represent a large segment of the MSCI Emerging Markets Index, and, as such, may represent a significant weight in the Funds portfolio. Caravan may sell a security as part of the country weight and stock rebalancing process, or for tax or liquidity reasons.
FCEMX Holdings
Top 10 holdings of Frontier Caravan Emerging Markets Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Alibaba Group Holding Ltd | 5.70% |
| Tencent Holdings Ltd | 4.54% |
| iShares MSCI Saudi Arabia ETF | 3.82% |
| Samsung Electronics Co Ltd | 2.48% |
| Commercial International Bank | 2.13% |
| Sberbank of Russia PJSC | 2.11% |
| Tsmc | 1.84% |
| National Bank of Kuwait SAKP | 1.48% |
| Qatar National Bank QPSC | 1.39% |
| China Construction Bank Corp | 1.28% |
FCEMX Portfolio Allocation
Asset-class allocation of Frontier Caravan Emerging Markets Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.2% |
| Cash & Equivalents | 0.3% |
FCEMX Performance
Total returns for FCEMX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -3.0% |
FCEMX Risk Information
Risk metrics for FCEMX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 26.9%
FCEMX Costs and Fees
FCEMX costs about $82 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.82%
- Gross expense ratio: 2.08%
- Portfolio turnover: 24%
- Brokerage commissions: 16.66 bps of average net assets (SEC N-CEN)
FCEMX Cashflows
Over the 12 months to 2020-09, Frontier Caravan Emerging Markets Fund had net inflows of $20.15M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-09 | $0 |
| 2020-08 | $0 |
| 2020-07 | $0 |
| 2020-06 | $0 |
| 2020-05 | $0 |
| 2020-04 | $20.00K |
FCEMX Debt Constituents
No individual debt constituents are reported in Frontier Caravan Emerging Markets Fund's latest SEC N-PORT filing.
FCEMX Prospectus and SEC Filings
Official Frontier Caravan Emerging Markets Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other China Large Cap 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.