(PUB) Investing 2015
May 2015
Morningstar FundInvestor
7
Data through April 30, 2015 Virtus Emerging Markets Opportunities A
Ticker
Status Yield Total Assets
Mstar Category
HEMZX Open
0.6% $10,700 mil
Diversified Emerging Mkts
Morningstar Analyst Rating 04-08-15 „
Investment Style Equity Stock %
Historical Profile Return Risk Rating High Low Highest
95% 99% 95% 94% 87% 94% 98% 95% 95%
Manager Change Partial Manager Change
15.0 20.0 25.0 32.0
Morningstar Pillars Process Performance
Growth of $10,000
Positive Positive Positive Negative Neutral
Investment Values of Fund Investment Values of MSCI WexUS
People Parent Price
10.0
§ ¶
NAV Total Return % +/-MSCI WexUS +/-MSCI Emg Mkt Income Return % Capital Return % Total Rtn % Rank Cat Performance Quartile (within Category) History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 04-15
Morningstar Analyst Rating Morningstar evaluates mutual funds based on five key pillars, which its analysts believe lead to funds that are more likely to outperform over the long term on a risk-adjusted basis. Analyst Rating Spectrum Œ „ ´ˇ ¨
10.88 19.67 -1.24 -5.88
12.27 31.08 14.46 -2.92
12.14 29.21 2.56 -2.93
9.80
4.76
6.96 48.12 6.67
8.83 27.82 16.67 8.94
8.44 -3.13 10.58 15.29 0.50 -3.63
10.00 19.62
9.26 -6.58 -3.98 0.79 -7.37 0.08 0.00 1.58 0.79 89
9.58 5.23 9.10 7.42 0.67 4.56 0.06 0.11 1.55 0.71 3
9.84 2.71 -6.01 -7.39 0.00 2.71 0.00 0.00 . . . 836 91
-46.04 37.16
20.51 -2.26
-0.51
-21.87 2.79
-30.39 7.29
1.40 0.65
1.07
0.82
1.55
0.69
0.99
1.63
0.79
18.60
30.26
27.66
-47.03 36.47
46.49
27.03
18.97
80
57
73
47
3
96
5
2
39
Pillar Spectrum Positive
0.11 0.85 1.83 0.49
0.09 1.76 1.70 0.91
0.18 3.39 1.59 0.60
0.08 5.92 1.60 0.77
0.09 0.70 1.79 0.65 126
0.08 0.00 1.72 1.34
0.06 0.00 1.66 0.87
0.04 0.07 1.61 1.09
0.05 0.03 1.60 0.78
Income $
§ Negative
¶ Neutral
Capital Gains $ Expense Ratio % Income Ratio % Turnover Rate % Net Assets $mil
Performance 04-30-15 1st Qtr 2nd Qtr
3rd Qtr
4th Qtr
Total
49
43
83
92 12
50 43
33
29
28
31
28
2011 2012 2013 2014 2015
-0.23 5.48 -13.61 6.54 -3.13 12.32 -3.31 5.05 4.86 19.62 1.40 -6.46 -1.27 -0.23 -6.58 1.94 7.67 -1.29 -2.87 5.23 1.77 . . . .
1
1
7
11
223
472
1,205
1,100
772
Portfolio Analysis 03-31-15 Share change since 12-14 Total Stocks:74 Sector
Rating and Risk Time Load-Adj
Country
% Assets
Morningstar
Morningstar Risk vs Cat
Morningstar Risk-Adj Rating
Period Return % Rtn vs Cat
British American Tobacco Housing Development Fina Fidelityfi Instl MM Fds M
Cnsmr Def
U.K.
5.08 5.06 4.49 3.95 3.41 3.25 3.03 2.98 2.68 2.61 2.51 2.19 2.16 2.08 2.00 1.99 1.85 1.81 1.72 1.72
1 Yr 3 Yr 5 Yr
-0.49 0.38 5.89 10.51 9.56
Trailing
Total +/- MSCI
+/- MSCI
%Rank Growth of
Finan Svs India
Return% WexUS Emg Mkt -0.61 -9.49 -10.06
Cat
$10,000
Avg High High
Avg Low Low
United States
.
3 Mo 6 Mo 1 Yr
98 9,939 84 9,722 42 10,558 54 10,731 3 14,124 4 28,832 22 38,429
Ambev SA ADR
Cnsmr Def Cnsmr Def
Brazil India
-2.78 -8.34 5.58 2.95 2.38 -6.36 7.15 1.11 11.17 4.91 9.39 5.18
-6.70 -2.22 -0.86 4.13 1.59 1.11
10 Yr Incept
ITC Ltd
HDFC Bank Ltd Baidu Inc ADR SABMiller PLC
Finan Svs India Technology China
3 Yr Avg 5 Yr Avg 10 Yr Avg 15 Yr Avg
Other Measures
Standard Index MSCI WexUS
Best Fit Index
Cnsmr Def Cnsmr Def Utilities
U.K.
Fomento Economico Mexica Power Assets Holdings Lt Sun Pharmaceuticals Indu Hindustan Unilever Ltd Naspers Ltd Class N Sands China Ltd PT Bank Central Asia Tbk Tencent Holdings Ltd Taiwan Semiconductor Man Wal - Mart de Mexico SAB Telekomunikasi Indonesia Cielo SA
Mexico
Alpha
-4.7 0.86
-1.1 0.85
Hong Kong
Beta
Hlth care India Technology Brazil
R-Squared
64
72
Tax Analysis Tax-Adj Rtn% %Rank Cat Tax-Cost Rat %Rank Cat 3 Yr (estimated) 5 Yr (estimated) 10 Yr (estimated) 0.03 74 0.35 40 5.57 5 0.30 35 8.23 24 2.07 90 Potential Capital Gain Exposure: 5% of assets Morningstar’s Take by Gregg Wolper 04-08-15 Virtus Emerging Markets Opportunities is one of the better choices in its field, but it requires understanding.ž This fund, run by Rajiv Jain since 2006, has one of the best returns in its Morningstar Category of diversified emerging-markets for the trailing five years through March 31, 2015, and it also has stellar returns for the nearly nine-year period of his tenure. It’s also crushed the MSCI Emerging Markets Index over both stretches. What’s more, the fund has a Morningstar Risk rating of Low, which indicates that it has been less volatile (with downside volatility emphasized) than most rivals. Indeed, in the severe downturn of 2011, the fund outperformed the category average by nearly 17 percentage points, holding its loss to just 3.1%, and in 2014, the fund gained 5.2% while the category average fell 3%. Jain has achieved this welcome combination by diverging from the portfolios of peers and the index. He focuses on steadily growing, tested companies, often consumer-focused and oriented toward their domestic markets. That helps shield the fund to a certain extent
Cnsmr Def
India
Standard Deviation
13.62 2.38 0.24
Technology South Africa Cnsmr Cyc Macau Finan Svs Indonesia Technology China Technology Taiwan
Mean
Sharpe Ratio
Cnsmr Def
Mexico
from broad global investor sentiment toward emerging markets as a whole or big names like the oil giants. But country-specific sentiment can influence performance, even though Jain targets companies rather than countries. Most notably, the pessimism surrounding India’s market for most of 2013, and the rosy view in 2014, help explain why this fund, with a marked overweighting in that market, landed in the category’s bottom quartile in the former year but well into the top quartile in the latter. Jain’s patient, sensible approach has worked for many years here and since 2002 at Virtus Foreign Opportunities JVIAX. It should continue to do so. But this unusual portfolio will be out of sync with the markets at times, and will lag as a result. Patience is thus critical for shareholders. In addition, the Parent rating for Virtus, for whom Jain and Vontobel subadvise, was recently downgraded to Negative. That should not have much effect on this fund, for Vontobel is separate from Virtus and has been allowed to operate independently. But it bears watching.
Comm Svs Indonesia
Current Investment Style
Sector Weightings
% of Stocks
Rel MSCI
3 Year Low
WexUS High
Market Cap % Giant 75.6 Large 21.6 Mid 2.7 Small 0.1 Micro 0.0 Avg $mil: 29,537
Value Blnd Growth
Cyclical 38.30 BasicMat 2.28 CnsmrCyc 7.95 FinanSvs 27.12 Real Est 0.95 Sensitive 22.87 CommSrvs 3.96 Energy 0.84 Technlgy 17.51 Defensive38.82 CnsmrDef31.17 Hlthcare 4.57 Utilities 3.08 Industrl 0.56
. .
h r t y u j i o p a k s d f
Large Mid Small
5 2
. 10 7 . 33 25
2 1
. . . . .
5 0 1 0 1 0
Growth Measures Long-Term Erngs Book Value Sales Cash Flow Historical Erngs Price/Cash Flow Dividend Yield % Value Measures Price/Earnings Price/Book Price/Sales
Rel Category
12.69 10.96 9.21 0.94 21.74 19.79 3.28 3.59 4.55 3.49
0.95 1.12 1.94 0.16 3.13 1.70 1.92 3.39 0.85 1.14
. 18 3
.
. 42 31
5 3 4 3
. .
% Rel Category
Regional Exposure UK/W. Europe 10 Japan 0 Asia X Japan 64
% Stock
N. America 0 Latn America 21 Other 5
Address:
Virtus Insight Trust Greenfield, MA 3301 800-243-1574
Minimum Purchase: Min Auto Inv Plan:
$2500 $100
Add: $100 IRA: $100
Add: $100
Sales Fees:
5.75%L,
Composition - Net
Web Address: Inception: Advisor: Subadvisor: NTF Plans:
www.virtusinvestmentpartners.com
Management Fee:
1.00% mx./0.95% mn., 0.10%A Mgt:0.96% Dist:0.25% 3Yr:$1039 5Yr:$1376 10Yr:$2325
Country Exposure
% Stock
Cash Stocks
4.6
Bonds Other
0.0 0.0
08-11-99
Actual Fees:
India Brazil
27 14 10
China Mexico
9 7
Virtus Investment Advisers, Inc. Vontobel Asset Management, Inc. DATALynx NTF, Federated Tr NTF
Expense Projections: Income Distribution:
95.4
Semi-Annually
Foreign
100.0
(% of Stock)
U.K.
Mutual Funds ß ®
© 2015Morningstar, Inc.All rights reserved. The information herein isnot representedorwarranted tobe accurate, correct, complete or timely.Pastperformance isnoguaranteeof future results.Accessupdated reports at Toorder reprints, call312-696-6100. mfb.morningstar.com.
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