Fees & Expenses
Pricing & Performance
Past performance is not indicative of future results.
Average Annual Total Returns As of 09/30/2021 As of 09/30/2021
Average Annual Total Returns
Past performance is not indicative of future results. The Portfolio's calendar year returns do not include the deduction of any applicable sales charges.
Composition As of 09/30/2021
Holdings As of 09/30/2021
Full Holdings Report available at least 45 calendar days after quarter-end.
Insights by Counterpoint Global
Categorizing for Clarity: Cash Flow Statement Adjustments to Improve Insight
Oct 06, 2021
Accounting has not kept pace with the changing economics of businesses, which has created a huge gap between what companies report in their financial statements and what an investor needs to understand a business. To better categorize activities, we suggest making adjustments within the statement of cash flows pertaining to stock-based compensation, leases, and intangible investments. We believe these adjustments substantially improve the description of a business. We share a case study of Amazon for 2020 to make the concepts more concrete.
Turn and Face the Strange
Sep 08, 2021
This report examines the barriers to change for organizations. We use sports as the prime example but then apply the lessons to investment management. Organizations can be slow to adopt certain approaches even when they add value due to loss aversion, a preference for the status quo, and the fear of poor outcomes in the short run. Organizations may overcome these challenges by aligning behind a commitment to improvement, learning, transparency, and accountability. Good long-term results require developing and executing strategies that add value.