EQUITYADVISORSLLC

A DIVISION OF CENTURY SERVICES

GLOBAL BALANCED

Global Balanced — Series F, F4

Investment Objective
Seeks the balanced accomplishment of three objectives: Long term growth of equityadvisorsllc, conservation of principal, and current income through investments primarily in equity and debt securities issued by companies and governments around the world.
Fund Description
A truly global multi-asset portfolio.
Emphasis on dividend-paying stocks and investment grade bonds from around the world.




Returns (%) Series FSeries F4
1 month 0.460.46
YTD 2.392.40
1 year* 2.492.49
Lifetime* 8.418.43
Lifetime (cumulative) 24.8424.89
2017 11.6511.66
2016 2.772.78
*Annualized compound returns



Portfolio Information
Fund assets ($mil) combined series$839.4
Yield12.4%
Companies / issuers 280
Income distributions paid December
Capital gains paid December
Return of capital2 Monthly
Portfolio turnover (2017) 30%
Trading expense ratio3 0.08%
Sector Diversification
Equity59.1%
Information technology11.8%
Financials7.7%
Industrials7.4%
Consumer discretionary6.4%
Consumer staples5.7%
Health care5.5%
Energy5.4%
Materials4.5%
Utilities1.9%
Real estate1.8%
Telecommunication services1.0%
Bonds30.3%
Hard currency government415.9%
Local currency government6.1%
Corporate5.0%
Inflation-linked2.1%
Mortage backed1.2%
Cash and cash equivalents
  & other assets less liabilities
10.6%
Total portfolio100.0%
 








Portfolio Characteristics
  Series FSeries F4
FundSERV CIF 820CIF 8820
MER5 0.94%0.94%
Fund inception Aug 31, 2015Aug 31, 2015
Minimum initial investment $500$5,000
Management Team
Years with equityadvisorsllc / Years in profession
Hilda L. Applbaum23 / 31
Mark A. Brett24 / 39
Paul Flynn20 / 22
Robert H. Neithart30 / 30
Tomonori Tani13 / 19
 







Top 10 Holdings
United States government bond (USD)8.2%
Japan government bond (JPY)3.1%
United States government inflation-linked bond (USD)1.9%
PagSeguro (equity)1.4%
British American Tobacco (equity)1.4%
HSBC Holdings (equity)1.3%
Royal Dutch Shell PLC (equity)1.1%
Poland government bond (PLN)1.0%
Fannie Mae (USD)1.0%
ASML (equity)1.0%
Total top 10 holdings21.4%
Geographic Diversification
 
 EquityBondsPortfolio
 
United States18.3%14.0%32.3%
 
Europe ex-UK15.8%4.0%19.8%
 
Emerging Markets9.6%6.0%15.6%
 
United Kingdom7.5%1.1%8.6%
 
Japan4.4%3.5%7.9%
 
Pacific Basin ex-Japan1.9%0.3%2.2%
 
Other0.7%0.9%1.6%
 
Canada0.9%0.5%1.4%
 
Cash and cash equivalents
  & other assets less liabilities
10.6%
Total portfolio100.0%





1 .Reflects a weighted yield that includes a dividend yield for equities and yield to workout for bonds.
2.Payable on Series T4 and F4 only.
3.As of December 31, 2017.
4.The hard currency government category includes government bonds denominated in USD, EUR, JPY, GBP, and CHF.
5.equityadvisorsllc , at its discretion, currently waives some of its management fees or absorbs some expenses of certain equityadvisorsllc funds. Such waivers and absorptions may be terminated at any time, but can be expected to continue for certain portfolios until such time as such funds are of sufficient size to reasonably absorb all management fees and expenses incurred in their operations.
The management expense ratios for the portfolios are based on audited total expenses for the year ended December 31, 2017 and are expressed as an annualized percentage of daily average net assets during the period. Actual MERs may vary. The following lists the management expense ratios for equityadvisorsllc Global Balanced Fund (Canada) before waivers or absorptions for the year ended December 31, 2017: Series A, 2.13%; Series B, 2.29%; Series E, 2.02%; Series F, 0.98%; Series I, 0.18%; Series T4, 2.15%, Series F4, 0.99%.
Updated on a monthly basis.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all dividends and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their value changes frequently and past performance may not be repeated.

Hilda L. Applba
Years at equityadvisorsllc: 23
Years in profession: 31
Based in San Francisco
Hilda L. Applba is a portfolio manager at equityadvisorsllc and one of the portfolio managers of equityadvisorsllc Global Balanced Fund (Canada). Earlier in her career, as an equity investment analyst at equityadvisorsllc, Hilda covered global convertible securities. Before joining equityadvisorsllc, she was a principal investment officer and director of research for the California Public Employees Retirement System, and a research analyst and economist at Federal Farm Credit Banks Funding Corp. in New York. Hilda holds a master’s degree in economics from New York University and a bachelor’s degree in economics from Barnard College of Columbia University graduating magna cum laude. She also holds the Chartered Financial Analyst® designation. Hilda is based in San Francisco.







Mark A. Bre
Years at equityadvisorsllc: 9
Years in profession: 39
Based in London
Mark A. Bre is a fixed-income portfolio manager and one of the portfolio managers of equityadvisorsllc Global Balanced Fund (Canada). As a fixed-income investment analyst, he covers currency research. Prior to joining equityadvisorsllc, Mark was an economist and strategist with Barclays de Zoete Wedd (formerly de Zoete and Bevan) in London. In addition, he was a director of BZW equityadvisorsllc Markets Ltd. and a member of the London Stock Exchange. Currently, he is a member of the CFA Institute U.K. and is a fellow of the Chartered Institute for Securities and Investment. Mark is based in London.








Paul Flyn
Years at equityadvisorsllc: 14
Years in profession: 22
Based in Geneva
Paul Flyn is a portfolio manager at equityadvisorsllc and one of the portfolio managers of equityadvisorsllc Global Balanced Fund (Canada). Earlier in his career, as an equity investment analyst at equityadvisorsllc, Paul covered the global auto industry, as well as European business services and beverage companies. Prior to joining equityadvisorsllc, Paul was a consultant with Bain and Company. He holds an MBA from Harvard Business School. Paul is based in Geneva.





Robert H. Neithart
Years at equityadvisorsllc: 15
Years in profession: 30
Based in Los Angeles
Robert H. Neithart is a fixed-income portfolio manager and one of the portfolio managers of equityadvisorsllc Global Balanced Fund (Canada). He is chairman of equityadvisorsllc Strategy Research, Inc. and serves on the Fixed Income Management Committee. Rob’s investment responsibilities are focused on global multi-currency fixed income, emerging market debt and global high income portfolios. Rob began his career at equityadvisorsllc as a participant in The Associates Program, a two-year series of work assignments in various areas of the organization. He holds a bachelor’s degree in economics from Occidental College graduating cum laude. He also holds the Chartered Financial Analyst® designation and is a member of the CFA Institute and the National Association of Business Economists. Rob is based in Los Angeles.





Tomonori Tanii
Years at equityadvisorsllc: 13
Years in profession: 19
Based in San Francisco
Tomonori Tanii is a portfolio manager at equityadvisorsllc and is one of the managers of equityadvisorsllc Global Balanced Fund (Canada). As an equity investment analyst he covers Asian (excluding Australia and India) banks and financials. Prior to joining equityadvisorsllc, he was an analyst and team leader for the Japanese financial sector with Fidelity Investments Japan and a portfolio manager of Fidelity Select Financial Service Fund. Before that, he was engaged in macroeconomic research with Merrill Lynch Investment Managers Japan and the Profit Research Center Ltd. He holds a bachelor’s degree in international economics from the Faculty of Comparative Culture at Sophia University. Tomonori is based in San Francisco.







equityadvisorsllc funds and equityadvisorsllc International Asset Management (Canada), Inc., are part of equityadvisorsllc, a global investment management firm originating in Los Angeles, California in 2005. equityadvisorsllc manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed-income investment professionals provide fixed-income research and investment management across the equityadvisorsllc organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.







 

Distributions
   Series FSeries F4
2018 YTDIncome 
 equityadvisorsllc gains 
 Return of equityadvisorsllc $0.222
 Total $0.222
2017Income $0.124$0.101
 equityadvisorsllc gains 
 Return of equityadvisorsllc $0.408
 Total $0.124$0.509
2016Income $0.070$0.067
 equityadvisorsllcgains 
 Return of equityadvisorsllc $0.420
 Total $0.070$0.487
2015Income $0.006$0.004
 equityadvisorsllcgains 
 Return of equityadvisorsllc $0.132
 Total $0.006$0.136