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ASTON/Pictet International Fund

 NI
CUSIP 00080Y42100080Y439
Ticker APINXAPCTX
Share Class Inception 4/14/20144/14/2014
Gross Exp Ratio (%) 3.263.01
Net Exp Ratio (%) 1.401.15
NAV9.769.79
NAV Change (%) 0.20 0.10
Benchmark MSCI EAFE Index
Morningstar Category Foreign Large Blend

Portfolio Managers

Fabio  Paolini, CFA, CFPI/AZEK
Fabio Paolini, CFA, CFPI/AZEK

Fabio Paolini, CFA, CFPI/AZEK

Fabio  Paolini, CFA, CFPI/AZEK

Fabio Paolini is Head of EAFE Equities at Pictet Asset Management, and has been the Lead Portfolio Manager of the Fund since its April 2014 inception. He joined the asset management group at the firm in 1997, after beginning his career in Pictet & Cie’s Financial Research Department. He graduated with a degree in Economics from the University of Siena (Italy), obtained a CFPI/AZEK designation in 1996, and holds the Chartered Financial Analyst designation.

Swee-Kheng  Lee, PhD
Swee-Kheng Lee, PhD

Swee-Kheng Lee, PhD

Swee-Kheng  Lee, PhD

Ms. Lee is a Senior Investment Manager at Pictet Asset Management, and has been a Co-Portfolio Manager of the Fund since its April 2014 inception. Before joining the firm in 2007, she was a portfolio manager for Norwich Union (now Morley Fund Management, part of Aviva) and employed at Phillips and Drew (now part of UBS). She has a BA in Philosophy, Politics and Economics and a PhD in Economics from Oxford University.

Benjamin  Beneche, CFA
Benjamin Beneche, CFA

Benjamin Beneche, CFA

Benjamin  Beneche, CFA

Mr. Beneche is an Investment Manager at Pictet Asset Management, and has been a Co-Portfolio Manager of the Fund since its April 2014 inception. He joined the firm as a graduate in 2008, and supports the team’s senior investment managers in their research and selection of Asian equities. He graduated from York University with a first class honors degree in Economics and Economic History. He also holds the Investment Management Certificate (IMC) and the Chartered Financial Analyst designation.

Investment Strategy

The ASTON/Pictet International Fund builds a portfolio of companies based outside of the U.S. using bottom-up fundamental analysis focused on growth in cash generation and stocks trading at a discount to intrinsic value.

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Objective

The Fund seeks to provide capital appreciation.

Risk Considerations

Investing in foreign markets involves the risk of social and political instability, market illiquidity, and currency volatility.

Fund Stats (as of 3/31/15) N SharesI Shares
Origin Of Information N/AN/A
Sales Load NoneNone
Total Net Assets (6/30/15)$1,050,599.70$34,552,782.33
Turnover N/AN/A
Minimum Investment 2,5001,000,000
Alpha (3 yr.) N/AN/A
Beta (3 yr.) N/AN/A
R-Squared (3 yr.) N/AN/A
Standard Dev (3 yr.) N/AN/A
Sharpe Ratio (3 yr.) N/AN/A
Current Wtd Average P/E (trailing) 25.4225.42
Current Wtd Average P/B (trailing) 2.362.36
Median Mkt Cap ($Mil) 6,8806,880
Average Wtd Coupon N/AN/A
Effective Maturity N/AN/A
Sector Breakdown (as of 5/31/15)
Industrials
20.78%
Financials
17.07%
Health Care
11.49%
Consumer Discretionary
11.10%
Telecommunication Services
11.05%
Consumer Staples
9.45%
Information Technology
7.85%
Energy
5.27%
Cash Equivalents & Other
3.52%
Materials
1.37%
Utilities
1.05%
Top 10 Holdings (as of 5/31/15)
CompanyTickerCUSIPNumber of SharesMarket Value% of Net Assets
HUTCHISON WHAMPOA LTD 13 6448068 72,000 $1,067,884.16 2.95%
SOFTBANK CORP 9984 6770620 17,400 $1,035,770.90 2.86%
INMARSAT PLC ISAT B09LSH6 62,287 $946,395.03 2.61%
NOKIA OYJ NOK1V 5902941 123,896 $906,508.32 2.50%
NESTLE SA NESN 7123870 11,551 $894,937.15 2.47%
INPEX CORP 1605 B10RB15 69,800 $856,243.08 2.36%
BG GROUP PLC BG/ 876289 48,452 $844,542.55 2.33%
HSBC HOLDINGS PLC HSBA 540528 81,078 $770,302.46 2.13%
ASML HOLDING NV ASML B929F46 6,367 $712,680.83 1.97%
BOLLORE SA BOL 4572709 118,481 $675,621.21 1.86%
Past performance does not guarantee future results. Investment return and principal value of mutual funds will vary with market conditions, so that shares, when redeemed, may be worth more or less than their original cost.

As the fund is actively managed, the securities as presented may not represent the current or future composition of the portfolio.

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