WCMMX — WCM International Equity Fund
Data updated: 2024-11-25
WCMMX — WCM International Equity Fund. Developed ex-US Mid Cap Blend / Core Industrials Equity · $71.53M AUM. Holdings, fees, performance and SEC filings.
WCMMX Fund Overview
WCMMX — WCM International Equity Fund is a US mutual fund managed by Investment Managers Series Trust, categorised as Developed ex-US Mid Cap Blend / Core Industrials Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Investment Managers Series Trust
- Category: Developed ex-US Mid Cap Blend / Core Industrials Equity
- Assets under management: $71.53M
- 1-year return: 22.2%
- Ticker: WCMMX
- SEC CIK: 0001318342
- SEC series ID: S000068295
- Share class ID: C000218626
WCMMX Investment Objective and Strategy
WCM International Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Investment Managers Series Trust.
Investment objective
The investment objective of the WCM International Equity Fund (the Fund) is long-term capital appreciation.
Principal investment strategy
Under normal circumstances, the Fund invests at least 80% of its net assets (including amounts borrowed for investment purposes) in equity securities of non-U.S. domiciled companies. The Fund may invest in equity securities or depositary receipts of companies located in developed countries and in emerging market and frontier market countries. Emerging market and frontier market countries are those countries with low- to middle-income economies as classified by the World Bank, or included in any of the Morgan Stanley Capital International (MSCI) emerging markets or frontier markets indices. The Funds advisor considers a company to be located in a country if the company has been organized under the laws of, has its principal offices in, or has its securities principally traded in, the country, or if the company derives at least 50% of its revenues or net profits from, or has at least 50% of its assets or production capacities in, the country.
The Funds investments in equity securities may include common stock and depositary receipts. The Funds investments in depositary receipts may include American, European, Canadian and Global Depositary Receipts (ADRs, EDRs, CDRs and GDRs, respectively). ADRs and CDRs are receipts that represent interests in foreign securities held on deposit by U.S. and Canadian banks or trust companies, respectively. EDRs and GDRs have the same qualities as ADRs, although they may be traded in several international trading markets. Under normal market conditions, the Fund invests in the securities of companies domiciled in at least three different countries outside of the United States, and the Fund may invest in securities of any market capitalization. From time to time, the Fund may invest a significant portion of its assets in the securities of companies domiciled in one or a few countries or regions.
The advisors investment process begins with bottom-up, fundamental research, which involves examining and ranking companies based on the following factors: (i) the companys corporate performance; (ii) the companys competitive position; (iii) the companys potential future growth; and (iv) the companys intrinsic value. The advisors fundamental research also involves an analysis of a companys environmental, social and governance (ESG) characteristics. The Funds advisor utilizes a proprietary, qualitative analysis in screening companies for the Funds portfolio that satisfy its ESG criteria. Industry-specific, material ESG value drivers are identified for each company based on the internally derived criteria as well as from information sourced from corporate disclosures, specialized datasets and other publicly filed information.
The advisors strategy is focused on identification and analysis of material ESG drivers, which are the most relevant and financially important ESG aspects of the companys business model. In the advisors view, these ESG drivers can have a significant short- or long-term impact on the companys financial performance and the sustainability of that performance. The advisors methodology determines what it believes the impact each of the drivers has on the metrics such as revenue, profits, cash flow, returns and risks. These drivers serve as a tool to identify companies with improving ESG characteristics (i.e., the companys ESG Trajectory). The advisors approach is also informed by industry-based standards for material ESG factors established by the Sustainability Accounting Standards Board. In addition, the Funds advisor will review company financial filings, proxy disclosures, corporate sustainability reports, Carbon Disclosure Project scores, government databases, Bloomberg ESG analytics, Institutional Shareholder Services Inc.
(ISS) reports and engage with company management as part of its screening process. The advisors environmental assessment includes identifying companies that provide products or services that are tied to an environmental competitive advantage as compared to their peers. For example, the Fund may invest in companies offering products or services with superior energy efficiency, better management of energy, water and waste resources, or offer solutions to emissions regulations. Social assessment includes identifying companies that promote societal benefits or address societal challenges. For example, the Fund may invest in companies with good diversity practices, lower employee turnover, and solid employee safety track-records. Governance assessment includes a focus on shareholder rights, senior management compensation, board structure, and audit/accounting risk.
Based on the advisors deeper qualitative ESG assessment, the Funds advisor selects companies that demonstrate a strong or improving ESG Trajectory and generally excludes companies with weak ESG performance. The Funds ESG screening process is designed to exclude companies that are involved in and derive significant revenue from certain industries or product lines, including: ? tobacco, ? gambling, ? civil firearms (i.e., those firearms typically available for consumer use in the United States), ? controversial weapons (e.g., land mines), and ? pornography. The Funds ESG screening process does not exclude traditional defense contractors nor does it exclude all alcohol. The Funds advisor does not utilize third-party ESG rankings or a scoring mechanism in the Funds portfolio construction process.
WCMMX Holdings
Top 10 holdings of WCM International Equity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| United Overseas Bank Ltd | 4.35% |
| Canadian National Railway Co | 3.94% |
| Iberdrola SA | 3.89% |
| AstraZeneca PLC | 3.88% |
| London Stock Exchange Group PL | 3.84% |
| Haleon PLC | 3.57% |
| Compass Group PLC | 3.49% |
| Adyen NV | 3.34% |
| GMO Payment Gateway Inc | 3.22% |
| Siemens Healthineers AG | 3.14% |
WCMMX Portfolio Allocation
Asset-class allocation of WCM International Equity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 88.0% |
| Other | 8.6% |
| Cash & Equivalents | 2.0% |
WCMMX Performance
Total returns for WCMMX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 22.2% |
| 3 years (annualised) | 4.4% |
WCMMX Risk Information
Risk metrics for WCMMX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 14.6%
WCMMX Costs and Fees
WCMMX costs about $85 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.85%
- Gross expense ratio: 1.48%
- Portfolio turnover: 39%
- Brokerage commissions: 8.93 bps of average net assets (SEC N-CEN)
WCMMX Cashflows
Over the 12 months to 2024-09, WCM International Equity Fund had net outflows of $9.08M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-09 | −$4.90M |
| 2024-08 | −$17.28M |
| 2024-07 | −$1.57M |
| 2024-06 | $63.69K |
| 2024-05 | $107.67K |
| 2024-04 | $77.47K |
WCMMX Debt Constituents
No individual debt constituents are reported in WCM International Equity Fund's latest SEC N-PORT filing.
WCMMX Prospectus and SEC Filings
Official WCM International Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-04-26
- Prospectus supplement (497) — filed 2024-05-06
- Prospectus supplement (497) — filed 2023-09-20
- Portfolio holdings (N-PORT) — filed 2024-11-25
- Portfolio holdings (N-PORT) — filed 2024-08-27
- Portfolio holdings (N-PORT) — filed 2024-05-23
- Annual census (N-CEN) — filed 2024-03-13
- Annual census (N-CEN) — filed 2023-03-15
Related Funds
Other Developed ex-US Mid Cap Blend / Core Industrials 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.