Q3 2017
ENTREPRENEURSHARES GLOBAL FUND
DISTRIBUTION OF MONTHLY RETURNS (January 17, 2013 – September 30, 2017)
ENTIX
MSCIWorld
12 15 18 21 24
15 ENTREPRENEURIAL TRAITS:
6 9
1. Organic growth opportunities
3
0
2. Above average ownership stake among key stakeholders
< -10
10 to -8
-8 to -6
-6 to -4
-4 to -2
-2 to 0
0 to 2
2 to 4
4 to 6
6 to 8
8 to 10
>10
Returns (%)
3. Low selling, general and administrative expenses
ENTREPRENEURS BY SECTOR (By Percent of Strategy)
Utilities
Healthcare
0%
15.83%
4. Above average return on invested capital
Telecommunications
Financials
2.90%
14.49%
5. Sustainable growth
Materials
Energy
5.89%
3.01%
6. Manageable debt
Information Technology
Consumer Staples
23.08%
4.08%
7. Active strategic alliances /partnerships/licensing
Industrials
Consumer Discretionary
10.08%
13.08%
8. Aligned executive
Real Estate
4.16%
compensation packages
TOP 10 HOLDINGS
9. Low executive turnover
10. Transparent governance
1. Facebook Inc (2.37%) 2. Amazon.com Inc (2.29%) 3. Alphabet In - CL A (2.12%) 4. Berkshire Hathaway Inc - CL B (1.92%) 5. UnitedHealth Group Inc (1.82%)
6. Nine Dragons Paper (1.77%) 7. Nvdia (1.67%) 8. Sino Biopharmaceutical (1.63%) 9. Netflix Inc (1.63%) 10. Fufeng Group (1.59%)
11. Long duration of key managers
12. Low or no dividends
13. Family involvement
INVESTMENT PROCESS
14. High EBITDA margin %
The investment objective of the Entrepreneur Shares Global Fund is to provide positive alpha and upside capture for its clients. The fund is benchmarked against the MSCI World Index. The selection process utilizes quantitative filters for initial screenings and then applies qualitative, fundamental analysis for final active selections. The fund manager performs daily portfolio monitoring and quarterly rebalancing (at minimum). The fund seeks consistent, long-term growth.
15. Other significant
stakeholder relationships
DISCLAIMER
The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 1-877-271-8811 or visiting www.ershares.com. Read it carefully before investing. Distributed by Rafferty Capital Markets, LLC, Garden City, NY 11530. The EntrepreneurShares Global Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. The Fund is exposed to common stock risk. Common Stock prices fluctuate based on changes in a company’s financial condition and on overall market and economic conditions. Additional risks are detailed in the prospectus. The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets. Alpha compares the risk-adjusted performance of a portfolio to a benchmark index. A positive alpha means the portfolio has outperformed the index on a risk-adjusted basis. Beta is a measure of the volatility of a portfolio in comparison to a benchmark index. Less than one means the portfolio is less volatile than the index, while greater than one indicates more volatility than the index. Standard deviation measures historical volatility. Higher Standard Deviation implies greater volatility. Sharpe Ratio measures risk-adjusted performance by dividing the portfolio’s excess returns (returns above a "risk-free" rate such as a Treasury bill) by the standard deviation of those returns. The higher the ratio, the better the portfolio’s return per unit of risk. The Up Capture ratio is the statistical measure of an investment manager’s performance in up-markets. The Down Capture ratio is the statistical measure of an investment manager’s performance in down-markets. Information Ratio is a ratio of portfolio returns above the returns of a benchmark compared to the volatility of those returns. The P/E (or Price/Earnings) ratio is the ratio of a company’s share price to its earnings per share. Earings before interest, tax, depreciation and amortization (EBITDA) is a measure of a company's operating performance.
ENTREPRENEURSHARES | 175 Federal St, Suite 875 Boston, MA 02110 | 617 279 0045 www.ershares.com | GLOBAL FUND
2
Made with FlippingBook flipbook maker