ICNEX — ICON International Equity Fund

ICNEX Fund Overview

ICNEX — ICON International Equity Fund is a US mutual fund managed by ICON Funds, categorised as Developed ex-US 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: ICON Funds
• Category: Developed ex-US Value Equity
• Assets under management: $21.49M
• Ticker: ICNEX
• SEC CIK: 0001025770
• SEC series ID: S000005056
• Share class ID: C000013831

ICNEX Investment Objective and Strategy

ICON International Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by ICON Funds.

Investment objective

Seeks long-term capital appreciation.

Principal investment strategy

The Fund uses a quantitative methodology to identify securities ICON believes are underpriced relative to value. It normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in foreign equity securities. Foreign equity securities refer to securities of issuers, wherever organized, whose securities are listed or traded principally on a recognized stock exchange or over-the-counter market outside the United States. This strategy may not be changed unless Fund shareholders are given at least 60 days prior notice. ICON believes that equity markets go through themes over time, simply stated, stocks in industries that were market leaders at one time tend to become overpriced relative to intrinsic value, and stocks in industries that were not in favor tend to drop below intrinsic value.

The Fund will sell industries ICON believes are overpriced and buy industries we believe are underpriced. The Fund may invest up to 25% of its assets in a single industry. ICONs combination of industry rotation and bottom-up valuation distinguishes us from other investment managers. Equity securities in which the Fund may invest include common and preferred stocks of companies of any market capitalization.

ICNEX Costs and Fees

ICNEX costs about $156 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.56%
• Gross expense ratio: 1.65%
• Portfolio turnover: 40%
• Brokerage commissions: 10.82 bps of average net assets (SEC N-CEN)

ICNEX Cashflows

Over the 12 months to 2020-03, ICON International Equity Fund had net outflows of $1.07M, from monthly SEC N-PORT filings.

ICNEX Debt Constituents

No individual debt constituents are reported in ICON International Equity Fund's latest SEC N-PORT filing.

ICNEX Prospectus and SEC Filings

Official ICON International Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-02-03
• Prospectus (485BPOS) — filed 2019-02-07
• Prospectus (485BPOS) — filed 2018-02-02
• Portfolio holdings (N-PORT) — filed 2020-05-27
• Annual census (N-CEN) — filed 2019-12-12
• Annual census (N-CEN) — filed 2018-12-06

Related Funds

Other Developed ex-US Value Equity funds tracked on ABC INVEST:

• Counterpoint Long-Short Equity Fund (CPQAX)
• Amana Equity Income ETF (AMEI)
• Aristotle Multi-Sector Income ETF (ARMS)
• Integrity Dividend Harvest ETF (DIVH)
• Lone Peak International Value ETF (LPIV)

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.