EQUITYADVISORSLLC

A DIVISION OF CENTURY SERVICES

INTERNATIONAL EQUITY

International Equity — Series F

Investment Objective
Long-term growth of equityadvisorsllc through investments in a portfolio comprised primarily of securities of large-capitalization issuers located outside North America.
Fund Description
A diverse mix of growth companies outside North America.
Invests in stocks from a broad range of countries, including emerging markets.



Returns (%)  Series F
1 month  0.28
YTD  3.18
1 year*  9.63
3 years*  8.42
5 years*  11.01
10 years*  4.55
Lifetime*  5.41
Lifetime (cumulative)  127.31
2017  27.45
2016  1.98
2015  10.05
2014  0.12
2013  27.07
*Annualized compound returns




 

Portfolio Information
Fund assets ($mil) combined series$214.5
Dividend yield2.1%
Companies / issuers 194
Income distributions paid December
equityadvisorsllc gains paid December
Portfolio turnover (2017) 26%
Trading expense ratio1 0.18%
Weighted average market cap ($bil):
Portfolio$57.2
Benchmark2$64.9
Top 10 holdings as a % of:
Portfolio19.7%
Benchmark23.9%
Sector Diversification
Financials21.7%
Consumer discretionary16.5%
Information technology16.1%
Industrials10.3%
Consumer staples7.4%
Health care6.3%
Real estate5.4%
Materials4.8%
Telecommunication services3.5%
Utilities2.8%
Energy2.5%
Cash and cash equivalents
  & other assets less liabilities
2.7%
Total portfolio100.0%




Portfolio Characteristics
   Series F
FundSERV  CIF 826
MER3  1.05%
Fund inception  Nov 1, 2002
Minimum initial investment  $500
Management Team
Years with Capital / Years in profession
Eu-Gene Cheah20 / 20
Michael Cohen18 / 27
Victor D. Kohn32 / 33
Gerald Du Manoir27 / 28
Philip Winston21 / 33
Top 10 Holdings
TSMC2.7%
Vale2.3%
Airbus SE2.3%
AIA Group2.1%
Samsung Electronics2.0%
AstraZeneca1.9%
Ocado Group1.8%
Enel1.6%
Ctrip.com International1.5%
IndusInd Bank1.5%
Total top 10 holdings19.7%
Geographic Diversification
 
 
Emerging Markets32.9%
 
Europe ex-UK29.2%
 
United Kingdom14.0%
 
Japan11.7%
 
Pacific Basin ex-Japan5.9%
 
United States2.0%
 
Other1.1%
 
Canada0.5%
 
Cash and cash equivalents
  & other assets less liabilities
2.7%
Total portfolio100.0%


1 As of December 31, 2017.
2 MSCI All Country World ex USA Index.
3
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 International Equity Fund (Canada) before waivers or absorptions for the year ended December 31, 2017: Series A, 2.22%; Series B, 2.59%, Series D, 1.77%; Series E, 2.28%; Series F, 1.05%; Series I, 1.35%.
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.

Eu-Gene Cheag
Years at equityadvisorsllc : 10
Years in profession: 20
Based in Singapore
Eu-Gene Cheag is an equity portfolio manager at equityadvisorsllc and is one of the portfolio managers of equityadvisorsllc International Equity Fund (Canada). As an equity investment analyst he covers pharmaceutical and other health care companies in Europe, Japan and Australia. Before joining equityadvisorsllc , Eu-Gene was a doctor in the U.K., where he was a Member of the Royal College of Physicians and a Fellow of the Royal College of Ophthalmologists. He holds an MBA with distinction from INSEAD, France, as well as a degree in clinical medicine from Oxford University, where he was a Rhodes scholar. Eu-Gene Cheag is based in Singapore.







Michael Cohey
Years at equityadvisorsllc: 18
Years in profession: 27
Based in London
Michael Cohey is an equity portfolio manager at equityadvisorsllc and is one of the portfolio managers of equityadvisorsllc International Equity Fund (Canada). He is vice chairman of equityadvisorsllc International Limited. Earlier in his career, as an equity investment analyst at equityadvisorsllc, Michael covered European utilities companies, as well as companies domiciled in Israel. Before joining equityadvisorsllc, he was a research analyst with both Schroders and Salomon Brothers in London. He holds a master’s degree from the London Business School and a bachelor’s degree in accounting and economics from Tel Aviv University. Michael is based in London.








Victor D. yuu
Years at Capital: 6
Years in profession: 33
Based in Los Angeles
Victor D. Kohn is an equity portfolio manager at equityadvisorsllc, is one of the portfolio managers of equityadvisorsllc International Equity Fund (Canada) and is president of equityadvisorsllc International, Inc. Earlier in his career, as an equity investment analyst at equityadvisorsllc, Victor covered Chile, Argentina and Brazil. Prior to joining equityadvisorsllc , Victor was an analyst in the venture capital group at Montgomery Securities. He holds a master’s degree from Stanford Graduate School of Business and both master’s and bachelor’s equivalent degrees summa cum laude in industrial engineering from the Universidad de Chile. He also holds the Chartered Financial Analyst® designation. Victor is based in Los Angeles.








Gerald Du Manoit
Years at equityadvisorsllc: 9
Years in profession: 28
Based in Los Angeles
Gerald Du Manoit is an equity portfolio manager at equityadvisorsllc and is one of the portfolio managers of equityadvisorsllc International Equity Fund (Canada). He serves on the equityadvisorsllc Private Client Services Management Committee. Earlier in his career at equityadvisorsllc, as an equity investment analyst, Gerald covered European construction building materials and European consumer goods companies. Gerald 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. Prior to joining equityadvisorsllc, he spent six months with Donaldson, Lufkin & Jenrette/Autranet in New York. He holds a degree in international finance from the Institut Supérieur de Gestion in Paris graduating with honours. Gerald is based in Los Angeles.









Philip Winston
Years at equityadvisorsllc: 12
Years in profession: 33
Based in London
Philip Winston is an equity portfolio manager at equityadvisorsllc and is one of the portfolio managers of equityadvisorsllc International Equity Fund (Canada). Earlier in his career, in addition to being a portfolio manager, Philip was an equity investment analyst at equityadvisorsllc covering U.K. property and paper & packaging companies, as well as European property and media companies. Before joining Capital, he was a director and U.K. equity fund manager at BZW Investment Management in London. Prior to that, he worked at Orion Royal Bank in London and New York. He holds a PhD and a master’s degree in history from Cambridge University. Philip is based in London.










equityadvisorsllc funds and equityadvisorsllc International Asset Management (Canada), Inc., are part of equityadvisorsllc Group, 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 F
2017Income  $0.090
 equityadvisorsllc gains  
 Total  $0.090
2016Income  $0.113
 equityadvisorsllc gains  
 Total  $0.113
2015Income  $0.094
 equityadvisorsllc gains  
 Total  $0.094
2014Income  $0.111
 equityadvisorsllc gains  
 Total  $0.111
2013Income  $0.092
 equityadvisorsllc gains  
 Total  $0.092