PBGIX — Polen Global SMID Company Growth Fund
Data updated: 2024-07-15
PBGIX — Polen Global SMID Company Growth Fund. Global (incl. US) Mid Cap Growth Equity · $10.47M AUM. Holdings, fees, performance and SEC filings.
PBGIX Fund Overview
PBGIX — Polen Global SMID Company Growth Fund is a US mutual fund managed by FundVantage Trust, categorised as Global (incl. US) Mid Cap Growth Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: FundVantage Trust
- Category: Global (incl. US) Mid Cap Growth Equity
- Assets under management: $10.47M
- 1-year return: -6.1%
- Ticker: PBGIX
- SEC CIK: 0001388485
- SEC series ID: S000074891
- Share class ID: C000233255
PBGIX Investment Objective and Strategy
Polen Global SMID Company Growth Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by FundVantage Trust.
Investment objective
Polen Global SMID Company Growth Fund (the Fund) seeks to achieve long-term growth of capital.
Principal investment strategy
The Fund typically invests in a focused portfolio of common stocks of small and mid-cap companies and, under normal circumstances, the Fund invests at least 80% of its net assets in securities of global issuers that are small or mid-cap companies. This 80% policy to invest in small and mid-cap companies may be changed by the Board of Trustees without shareholder approval upon 60 days notice to shareholders. The Adviser considers small and mid-cap companies for this purpose to be those companies that, at the time of purchase, are within the range of the market capitalizations of companies in the MSCI ACWI SMID Index. This policy does not require the Fund to sell the security of a small or mid-cap company if such companys market capitalization moves outside the range of the market capitalizations of companies in the MSCI ACWI SMID Index; however, additional purchases of such security will be subject to the 20% limitation for securities outside of the Funds small and mid-cap company portfolio.
As of April 30, 2023, the average weighted market capitalization of the issuers in the MSCI ACWI SMID Index was $9.11 billion. Under normal market conditions, the Fund will invest in at least three different countries and will typically invest at least 40% of its net assets in non-U.S. equity securities, or, if conditions are not favorable, invest at least 25% of its assets in non-U.S. equity securities. Non-U.S. equity securities are securities of companies that (i) have their principal securities trading market outside the U.S.; (ii) alone or on a consolidated basis derive 50% or more of annual revenue from goods produced, sales made or services performed outside the U.S.; (iii) are organized under the laws of, and have a principal office in, a country other than the U.S.; (iv) are depositary receipts of issuers described in (i) and (iii) above; or (v) are exchange-traded funds that invest in a country or countries other than the U.S.
While the Fund will under normal market conditions invest in at least three different countries, the Adviser anticipates that the Fund will ordinarily invest in approximately six or more countries. Consistent with its investment criteria, the Fund may invest in certain emerging market companies. Emerging market companies are companies that (i) have their principal securities trading market in an emerging country; (ii) alone or on a consolidated basis derive 50% or more of annual revenue from goods produced, sales made or services performed in emerging countries; (iii) are organized under the laws of, and have a principal office in, an emerging country, (iv) are depositary receipts of issuers described in (i) and (iii) above, or (v) are exchange-traded funds that invest in an emerging country or countries.
Emerging countries include those currently considered to be an emerging or developing country by the World Bank, the International Finance Corporation, the United Nations, or the countries authorities, and all countries represented in any widely-recognized index of emerging market securities. Typically, emerging markets are in countries that are in the process of industrialization, with lower gross national products (GNP) than more developed countries. The Adviser uses an intensive fundamental research process to identify companies that it believes have certain attractive characteristics, which typically reflect of an underlying competitive advantage. Those characteristics associated with the Funds growth style of investing include: (i) consistent and sustainable high return on capital, (ii) strong earnings growth and free cash flow generation, (iii) strong balance sheets typically with low or no net debt to total capital and (iv) competent and shareholder-oriented management teams.
The Fund invests in companies that the Adviser believes have a sustainable competitive advantage within an industry with high barriers to entry. The Adviser believes that such companies not only have the potential to contribute greater returns to the Fund, but also may hold less risk of loss of capital. The Adviser believes that consistent earnings growth is the primary driver of long-term stock price appreciation. Accordingly, the Adviser focuses its efforts on identifying and investing in a concentrated portfolio of high-quality small capitalization growth companies that, in the Advisers opinion, are able to deliver sustainable above average earnings growth driven by a sustainable competitive advantage. The Adviser integrates material environmental, social, and governance (ESG) factors into research analysis as part of a comprehensive evaluation of a companys long-term financial sustainability.
The Fund is non-diversified, which means that a significant portion of the Funds assets may be invested in the securities of a single or small number of companies and/or in a more limited number of sectors than a diversified mutual fund. Although the Fund may not concentrate (invest 25% or more of its net assets) in any industry, the Fund may focus its investments from time to time in one or more sectors of the economy or stock market. The Fund will usually sell a security if, in the view of the Adviser, there is a potential threat to the companys competitive advantage or a degradation in its prospects for strong, long-term earnings growth. The Adviser may also sell a security if it is believed by the Adviser to be overvalued or if a more attractive investment opportunity exists. Although the Adviser may purchase and then sell a security in a shorter period of time, the Adviser typically invests in securities with the expectation of holding those investments on a long term basis.
PBGIX Holdings
Top 10 holdings of Polen Global SMID Company Growth Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Tencent Music Entertainment Gr | 5.28% |
| Topicus.com Inc | 5.05% |
| Houlihan Lokey Inc | 4.98% |
| CTS Eventim AG & Co KGaA | 4.93% |
| Fevertree Drinks PLC | 4.55% |
| Alight Inc | 4.02% |
| Progyny Inc | 3.85% |
| Eurofins Scientific SE | 3.37% |
| Globant SA | 3.08% |
| E Ink Holdings Inc | 3.05% |
PBGIX Portfolio Allocation
Asset-class allocation of Polen Global SMID Company Growth Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.4% |
| Cash & Equivalents | 1.9% |
PBGIX Performance
Total returns for PBGIX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -6.1% |
| 3 years (annualised) | -19.5% |
PBGIX Risk Information
Risk metrics for PBGIX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 23.2%
PBGIX Costs and Fees
PBGIX costs about $125 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.25%
- Gross expense ratio: 2.69%
- Portfolio turnover: 41%
- Brokerage commissions: 11.32 bps of average net assets (SEC N-CEN)
PBGIX Cashflows
Over the 12 months to 2024-04, Polen Global SMID Company Growth Fund had net inflows of $11.57M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-04 | −$48.79K |
| 2024-03 | −$261.24K |
| 2024-02 | $59.51K |
| 2024-01 | $369.78K |
| 2023-12 | $2.34M |
| 2023-11 | $451.14K |
PBGIX Debt Constituents
No individual debt constituents are reported in Polen Global SMID Company Growth Fund's latest SEC N-PORT filing.
PBGIX Prospectus and SEC Filings
Official Polen Global SMID Company Growth Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-08-28
- Prospectus (485BPOS) — filed 2022-08-29
- Prospectus (485BPOS) — filed 2021-12-28
- Portfolio holdings (N-PORT) — filed 2024-06-24
- Portfolio holdings (N-PORT) — filed 2024-03-25
- Portfolio holdings (N-PORT) — filed 2023-12-20
- Annual census (N-CEN) — filed 2024-07-15
- Annual census (N-CEN) — filed 2023-07-14
Related Funds
Other Global (incl. US) Mid Cap Growth 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.