MCLGX — Emerging Markets Fund
Data updated: 2023-07-12
MCLGX — Emerging Markets Fund. Emerging Markets Blend / Core Equity · $23.07M AUM · 2.15% expense ratio. Holdings, fees, performance and SEC filings.
MCLGX Fund Overview
MCLGX — Emerging Markets Fund is a US mutual fund managed by Mirae Asset Discovery Funds, categorised as Emerging Markets 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: Mirae Asset Discovery Funds
- Category: Emerging Markets Blend / Core Equity
- Assets under management: $23.07M
- 1-year return: -2.4%
- Ticker: MCLGX
- SEC CIK: 0001489215
- SEC series ID: S000029292
- Share class ID: C000090075
MCLGX Investment Objective and Strategy
Emerging Markets Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Mirae Asset Discovery Funds.
Investment objective
The investment objective of Emerging Markets Fund (the Fund) is to achieve long-term capital growth.
Principal investment strategy
Under normal circumstances, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets, plus any borrowings for investment purposes, measured at the time of purchase, in equity securities (i) of issuers in emerging markets or (ii) that are tied economically to emerging markets, provided that, in either case, the issuers of any such securities are deemed by the Investment Manager to be Sector Leaders. Equity securities consist of common stock and related securities, such as preferred stock and depositary receipts. The Investment Manager defines Sector Leaders to be those issuers that are highly ranked, or those that the Investment Manager expects to be highly ranked in the future, in terms of market share or market capitalization within their respective country, region, industry, products produced or services offered, as applicable.
The Investment Manager generally considers highly ranked to mean first or second. In determining whether an issuer is, or is likely to be, highly ranked, the Investment Manager considers, among other things: (i) issuers with a sustainable long-term business model or strategy that the Investment Manager considers to be a competitive advantage; (ii) issuers with businesses that the Investment Manager expects to benefit from long-term economic trends; and (iii) issuers with management practices and philosophies that the Investment Manager considers beneficial to shareholder value. The Investment Manager considers an emerging market country to include any country that is: (i) generally recognized to be an emerging market country by the international financial community; (ii) classified by the United Nations as a developing country; or (iii) included in the MSCI Emerging Markets Index.
The Investment Manager determines that an investment is tied economically to an emerging market if such investment satisfies one or more of the following conditions: (i) the issuers primary trading market is in an emerging market; (ii) the issuer is organized under the laws of, derives at least 50% of its revenue from, or has at least 50% of its assets in, emerging markets; (iii) the investment is included in an index representative of emerging markets; and (iv) the investment is exposed to the economic risks and returns of emerging markets. For market capitalization determination, the Investment Manager considers, on a country-by-country basis, the rankings published by generally recognized classification systems, such as the MSCI Global Industry Classification System (MSCI GICS). The Investment Manager may invest in issuers across all industry sectors, as defined by MSCI GICS.
For market share determination, the Investment Manager generally uses its proprietary analysis of an issuers competitive positioning within its respective industry on a province, state, country or regional basis. The Investment Manager also may consider product segments or types of services provided by an issuer that are outside of the issuers generally recognized industry classification. The Investment Managers proprietary analysis may include consideration of third-party data on market share. The Investment Manager buys and sells securities based on its judgment about issuers, the prices of the securities and other economic factors. The Fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies. The Fund may invest in securities of any market capitalization.
Although the Fund may invest more than 25% of its assets in issuers located in a single country or in a limited number of countries, under normal market conditions, the Fund invests in at least three different countries. Under normal market conditions, the Fund intends to invest substantially all of its net assets in non-U.S. companies.
MCLGX Performance
Total returns for MCLGX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -2.4% |
| 3 years (annualised) | 6.8% |
MCLGX Risk Information
Risk metrics for MCLGX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 20.8%
MCLGX Costs and Fees
MCLGX costs about $215 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.15%
- Gross expense ratio: 2.52%
- Portfolio turnover: 106%
- Brokerage commissions: 37.99 bps of average net assets (SEC N-CEN)
MCLGX Cashflows
Over the 12 months to 2023-04, Emerging Markets Fund had net inflows of $75.04M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-04 | $9.96M |
| 2023-03 | $1.30M |
| 2023-02 | $1.28M |
| 2023-01 | $8.75M |
| 2022-12 | $10.18M |
| 2022-11 | $2.55M |
MCLGX Debt Constituents
No individual debt constituents are reported in Emerging Markets Fund's latest SEC N-PORT filing.
MCLGX Prospectus and SEC Filings
Official Emerging Markets Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-08-26
- Prospectus (485BPOS) — filed 2021-08-27
- Prospectus (485BPOS) — filed 2020-09-10
- Portfolio holdings (N-PORT) — filed 2023-06-22
- Portfolio holdings (N-PORT) — filed 2023-03-30
- Portfolio holdings (N-PORT) — filed 2022-12-27
- Annual census (N-CEN) — filed 2023-07-12
- Annual census (N-CEN) — filed 2022-07-14
Related Funds
Other Emerging Markets 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.