FQ Tax-Managed U.S. Equity Fund  (MFQTX)

Fund Overview

Fund Overview

Share Class

I

  • I

NAV | as of 10/18/2019

$33.37
-$0.15 (-0.45%)

Morningstar | Style Box

V B G L M S

Overall Morningstar Rating



Rated against 1222 Large Blend funds as of 09/30/2019

View Morningstar Details

Growth of $10,000 (Hypothetical)

Since Inception 12/18/2000 to 09/30/2019 = $36,896.64

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown.

Objective

The Fund seeks to achieve long-term after-tax returns by gaining exposure to U.S. stocks.

Why Consider

  • Provides investors exposure to a portfolio of securities that broadly reflect the characteristics of the Russell 3000® Index in terms of industry, earnings growth, valuation and other similar factors
  • Strives to minimize taxable distributions to shareholders by employing a variety of tax-sensitive investment techniques
  • Investment approach based on belief that significant and recurring fundamental market inefficiencies and behavioral biases can be exploited
Jia Ye, Ph.D.

Jia Ye, Ph.D.

Partner, Investments

See Our Approach Read Bio
David Chrisman, Ph.D., CFA

David Chrisman, Ph.D., CFA

Director, Investments

See Our Approach Read Bio

Performance

Performance

Read Important Investment Disclosures

Returns

 

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods less than one year are not annualized.

Expense Ratios

  • Gross Expense Ratio: 1.01%
  • Net Expense Ratio: 0.89%
  • Expense Cap Expiration Date: 03/01/2020

Distributions & Pricing


    • Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
      Dec 27, 2018 $0.555400 $0.141000 $0.414400
      Dec 27, 2017 $0.141900 $0.102200 $0.039700
      Dec 27, 2016 $0.306200 $0.306200
      Dec 28, 2015 $0.134000 $0.134000
      Dec 26, 2014 $0.090800 $0.090800
      Dec 26, 2013 $0.064800 $0.064800
      Dec 26, 2012 $0.146200 $0.146200
      Dec 27, 2011 $0.013700 $0.013700
      Dec 28, 2010 $0.055100 $0.055100
      Dec 28, 2009 $0.033000 $0.033000
      Dec 26, 2008 $0.152600 $0.152600
      Dec 26, 2007 $0.073500 $0.073500
      Jul 26, 2007 $0.010300 $0.010300
      Dec 27, 2005 $0.023000 $0.023000
      Dec 28, 2004 $0.102000 $0.102000
      Jul 28, 2003 $0.040000 $0.040000
      Dec 26, 2002 $0.065000 $0.065000

Risk & Return Stats

As of: 09/30/2019

View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 09/30/2019

Microsoft Corp 4.47%
Visa Inc, Class A 3.88%
Apple Inc 3.80%
MasterCard Inc, Class A 3.72%
Berkshire Hathaway Inc, Class B 3.08%
Brown & Brown Inc 2.66%
UnitedHealth Group Inc 2.59%
Amazon.com Inc 2.53%
Crocs Inc 2.20%
Arch Capital Group Ltd 2.13%
% in Top 10 Holdings 31.06%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Equity)

As of: 09/30/2019

Investment Approach

Investment Approach

FQ Tax-Managed U.S. Equity Fund

The Fund strives to minimize taxable distributions to shareholders. First Quadrant may apply a variety of tax-sensitive investment techniques including:

  • Investing in stocks that pay below-average dividends
  • Employing a buy-and-hold strategy designed to avoid realizing short-term capital gains and defer the realization of long-term capital gains as long as possible
  • Realizing losses on specific securities or specific tax lots of securities to offset realized gains

Additional Fund Highlight

Experienced boutique manager known for its systematic, theory based investment processes


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About

About First Quadrant

Background

First Quadrant (FQ) is an innovative boutique investment firm recognized for excellence in dynamic asset allocation and equity strategies. FQ employs a systematic, theory-based investment process and serves a global, primarily institutional client base.

Learn More

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Founded

1988


Headquarters

Pasadena, CA


Affiliate Since

1996


AUM

$21.3B

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