VEILX — VELA International Fund
Data updated: 2026-08-27
VEILX — VELA International Fund. Developed ex-US Multi-Cap / All-Cap Value Equity · $76.40M AUM. Holdings, fees, performance and SEC filings.
VEILX Fund Overview
VEILX — VELA International Fund is a US mutual fund managed by VELA Funds, categorised as Developed ex-US Multi-Cap / All-Cap 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: VELA Funds
- Category: Developed ex-US Multi-Cap / All-Cap Value Equity
- Assets under management: $76.40M
- 1-year return: -39.3%
- Ticker: VEILX
- SEC CIK: 0001815493
- SEC series ID: S000069562
- Share class ID: C000221920
VEILX Investment Objective and Strategy
VELA International Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by VELA Funds.
Investment objective
The investment objective of the VELA International Fund is to provide long-term capital appreciation.
Principal investment strategy
The fund, under normal market conditions, invests its assets primarily in non-U.S. equity securities of companies of any size (including small capitalization, mid capitalization and large capitalization companies) that the Adviser believes are undervalued. Equity securities consist of common and preferred stocks. Under normal market conditions, the fund will invest at least 80% of its net assets in securities issued by companies (i) that are headquartered or have their principal place of business outside the U.S., (ii) whose primary trading markets are outside the U.S. or (iii) that have at least 50% of their assets in, or derive at least 50% of their total revenues or profits from, goods or services produced in or sales made in countries outside the U.S. The fund intends to diversify its investments across different countries and regions.
The fund may invest up to 30% of its total assets in securities of companies located in emerging market countries at the time of purchase. Emerging market countries include those generally recognized to be an emerging market country by the international financial community; classified by the United Nations as a developing country; or classified as an emerging market country by Morningstar, Inc., or other index or data provider. The Adviser focuses on estimating a companys value independent of its current stock price. To estimate a companys value, the Adviser concentrates on the fundamental economic drivers of the business. The primary focus is on bottom-up analysis, which takes into consideration earnings, revenue growth, operating margins, balance sheet strength, free cash flow generation, management stewardship, and other economic factors.
The Adviser also considers the level of industry competition, regulatory factors, the threat of technological obsolescence, and a variety of other industry factors. If the Advisers estimate of a companys value differs sufficiently from the current market price, the company may be an attractive investment opportunity. In constructing a portfolio of securities, the Adviser is not constrained by the sector or industry weights in the benchmark. The Adviser relies on individual stock selection and discipline in the investment process to add value. The highest portfolio security weights are assigned to companies where the Adviser has the highest level of confidence. Once a stock is owned by the fund, the Adviser continues to monitor the companys strategies, financial performance, and competitive environment.
The Adviser cause the fund to may sell a security as it reaches the Advisers estimate of the companys value, if the Adviser believes that the companys earnings, revenue growth, operating margin or other economic factors are deteriorating, if the original investment thesis leading to the purchase of the companys stock no longer applies, or if the Adviser identifies a stock that it believes offers a better investment opportunity.
VEILX Holdings
Top 10 holdings of VELA International Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| First American Funds, Inc. | 6.09% |
| Ambev SA | 2.74% |
| Hikma Pharmaceuticals PLC | 2.46% |
| Criteo SA | 2.37% |
| Copa Holdings SA | 2.34% |
| Associated British Foods PLC | 2.31% |
| Bbb Foods, Inc. | 2.27% |
| Nomad Foods Ltd. | 2.20% |
| Nintendo Company Ltd. | 2.19% |
| Infineon Technologies AG | 2.16% |
VEILX Portfolio Allocation
Asset-class allocation of VELA International Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 94.0% |
| Cash & Equivalents | 6.1% |
VEILX Performance
Total returns for VEILX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -24.9% |
| 1 year | -39.3% |
| 3 years (annualised) | -39.0% |
| 5 years (annualised) | -42.0% |
VEILX Risk Information
Risk metrics for VEILX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 13.2%
VEILX Costs and Fees
VEILX costs about $135 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.35%
- Gross expense ratio: 1.35%
- Portfolio turnover: 35%
- Brokerage commissions: 7.45 bps of average net assets (SEC N-CEN)
VEILX Cashflows
Over the 12 months to 2026-06, VELA International Fund had net inflows of $10.58M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $389.27K |
| 2026-05 | −$148.54K |
| 2026-04 | −$812.98K |
| 2026-03 | $2.71M |
| 2026-02 | $660.27K |
| 2026-01 | $3.72M |
VEILX Debt Constituents
No individual debt constituents are reported in VELA International Fund's latest SEC N-PORT filing.
VEILX Prospectus and SEC Filings
Official VELA International Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-01-27
- Prospectus (485BPOS) — filed 2025-01-27
- Prospectus supplement (497) — filed 2025-09-02
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2025-12-12
- Annual census (N-CEN) — filed 2024-12-13
Related Funds
Other Developed ex-US Multi-Cap / All-Cap Value 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.