Nuveen International Growth Fund
The Nuveen International Growth Fund invests at least 80% of its assets in non-US stocks. It can invest up to 30% of the portfolio in emerging markets. The fund website describes the fund adopting “a geographically, economically, and demographically diversified strategy that seeks long-term capital appreciation by investing primarily in non-US equity securities of varying market capitalizations.” The fund is managed by Tracy Stouffer.
The fund management team undertakes the following four-step investment process:
- Themes: What themes will drive global economic change?
- Opportunity Cluster: What are the goods and services that will benefit from these themes?
- Fundamental Analysis: What companies are positioned to benefit from evolving trends?
- Portfolio Construction: How do these companies fit into the overall portfolio?
According to information provided by the fund house, consumer discretionary was the single-largest sectoral holding of the fund and formed 20.7% of the January 2016 portfolio. Financials and information technology, in that order, were second and third, and formed a combined 35.3% of the portfolio. Healthcare and industrials rounded off the sectors with the largest weights.
Stocks from Japan formed 20.2% of the fund’s assets for January, making the country the geography with the largest weight. Germany followed, forming 15.2% of the portfolio. The UK, France, and Sweden, in that order, rounded off the countries with the largest weights.
SAP (SAP), Adidas (ADDYY), TOTAL (TOT), BT Group (BT), and BAE Systems (BAESY) were among the fund’s 137 holdings as of the end of January. As of January 2016, the fund was managing assets worth $420.5 million.
Fees and minimums
The Nuveen International Growth Fund – Class A (NBQAX) was incepted in April 2009 and has an expense ratio of 1.2%. There is a minimum requirement of $3,000 to invest in this fund via Class A shares, and the minimum subsequent investment is $100. The fund can charge a maximum sales charge of 5.8% of the offering price on the purchase of Class A shares.
In the next article, we’ll look at some of the key metrics of the fund’s performance in the one-year period ended February 2016.