Van Eck Global - Since 1955

Emerging Markets FundGBFAX

  • Daily Price   as of 12/18/2014

    NAV DAILY CHANGE
    $14.11  $0.34 / +2.5%
  • Class A Details: GBFAX

    INCEPTION DATE GROSS/NET EXPENSES1
    12/20/93 1.63%/1.60%
  • Fund Summary & Key Points

    The Van Eck Emerging Markets Fund seeks long-term capital appreciation by investing in equity securities in emerging markets around the world.

    • A global emerging markets equity portfolio focused on companies with growth potential at a reasonable price (“GARP”)
    • A bottom-up investment process driven by fundamental research into the sustainability of a company’s growth drivers
    • Growth is oriented toward strong secular stories, many of which reflect domestic demand themes and are often found in smaller-capitalization stocks

  • Fund Details 
    as of 11/30/14

    • Net Assets (All Classes)
      $328.7M
    • Number of Holdings
      85
    • Avg. Wtd. Market Cap
      $6.0B
    • Turnover Rate (2013)
      81%
    • P/E (last 12 months)*
      15.7
    • P/B (last 12 months)*
      2.7
    • Benchmark Indices2
      MSCI EM Index
      MSCI EM Small Cap Index

    *Price-to-Earnings (P/E) ratio is the price of a stock divided by its earnings per share. Price-to-Book (P/B) ratio is the ratio of a stock's price to its book value.

  • Emerging Markets Equity Investment Team

    Van Eck Emerging Markets Investment Team Photo

    David Semple, Portfolio Manager, with Angus Shillington, David Feygenson, and Patricia Gonzalez

  • Investment Style Box

    EMF-Morningstar-Style-Box

    This investment style box is based on the Fund's overall targeted capitalization range and relative valuation as determined by Van Eck Global.

  • Performance History: Average Annual Total Returns (%) 

    1 MO*3 MO*YTD*1 YR3 YR5 YR10 YRLIFE^
    (12/20/93)
    Van Eck Emerging Markets Fund: Class A
    At Net Asset Value (NAV†)-1.12-3.054.325.6712.698.299.79--
    At Maximum 5.75% Sales Charge-6.79-8.61-1.64-0.4210.487.019.14--
    MSCI EM Index2-1.05-7.272.881.405.633.889.81--
    MSCI EM Small Cap Index2-1.53-7.444.273.718.545.1510.91--
    1 MO*3 MO*YTD*1 YR3 YR5 YR10 YRLIFE^
    (12/20/93)
    Van Eck Emerging Markets Fund: Class A
    At Net Asset Value (NAV†)-5.06-2.532.1610.1414.478.8810.91--
    At Maximum 5.75% Sales Charge-10.51-8.15-3.683.7712.227.5910.26--
    MSCI EM Index2-7.39-3.362.754.667.564.7611.03--
    MSCI EM Small Cap Index2-4.33-1.217.799.169.996.9712.66--

    *Returns less than one year are not annualized.

    The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the Fund incurred all expenses and fees1, investment returns would have been reduced.  Expenses: Class A: Gross 1.63% and Net 1.60%. Expenses are capped contractually through 05/01/15 at 1.60% for Class A. Investment returns and Fund share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. 

    ^The Fund's inception date was December 20, 1993, but prior to December 18, 2002, it operated with a substantially different investment strategy. Specifically, it invested primarily in the common stocks and other equity securities of global large-cap growth companies and could invest no more than 10% of its assets in emerging markets securities.

  • Top 10 Holdings (%) 

    HOLDING SECTOR % OF
    NET ASSETS
    Tech Mahindra Limited Information Technology 2.6
    Baidu Inc. Sponsored ADR Class A Information Technology 2.6
    Naspers Limited Class N Consumer Discretionary 2.5
    LARGAN Precision Co. Ltd. Information Technology 2.4
    BB Seguridade Participacoes SA Financials 2.4
    Taiwan Semiconductor Manufacturing Co. Ltd. Information Technology 2.4
    Axis Bank Limited Financials 2.3
    Estacio Participacoes S.A. Consumer Discretionary 2.3
    DEUTSCH-CW16 SAUDI BRITISH BK Financials 2.1
    Magnit PJSC Consumer Staples 2.0
    Top 10 Total 23.6
    HOLDING SECTOR % OF
    NET ASSETS
    Tech Mahindra Limited Information Technology 2.5
    Baidu Inc. Sponsored ADR Class A Information Technology 2.3
    Ezion Holdings Limited Energy 2.2
    BB Seguridade Participacoes SA Financials 2.1
    Magnit JSC Consumer Staples 2.1
    Estacio Participacoes S.A. Consumer Discretionary 2.1
    DEUTSCH-CW16 SAUDI BRITISH BK Financials 1.9
    Aspen Pharmacare Holdings Limited Health Care 1.9
    Naspers Limited Class N Consumer Discretionary 1.8
    Taiwan Semiconductor Manufacturing Co. Ltd. Information Technology 1.7
    Top 10 Total 20.6

    These are not recommendations to buy or sell any security. Sectors and holdings may vary.

  • Sector Weightings (%)
    as of 11/30/14

    % OF NET ASSETS
    Financials 28.7
    Information Technology 20.0
    Consumer Discretionary 16.1
    Health Care 10.0
    Industrials 8.3
    Consumer Staples 5.7
    Energy 2.9
    Materials 2.3
    Utilities 0.6
    Cash 5.4
  • Country Weightings (%) as of 11/30/14

    COUNTRY % OF NET ASSETS
    China
    25.9
    India
    14.7
    Taiwan
    10.4
    Brazil
    9.5
    South Africa
    4.0
    Russia
    3.0
    Saudi Arabia
    2.9
    United States
    2.1
    Turkey
    2.1
    South Korea
    1.9
    Peru
    1.8
    Philippines
    1.7
    Other
    14.6
    Cash
    5.4
  • Important Disclosure 

    Unless otherwise stated, portfolio facts and statistics are shown for Class A shares; other classes may have different characteristics. 

    NAV: Unless you are eligible for a waiver, the public offering price you pay when you buy Class A shares of the Fund is the Net Asset Value (NAV) of the shares plus an initial sales charge. The initial sales charge varies depending upon the size of your purchase.  No sales charge is imposed where Class A or Class C shares are issued to you pursuant to the automatic investment of income dividends or capital gains distributions. It is the responsibility of the financial intermediary to ensure that the investor obtains the proper “breakpoint” discount. Class C, Class I and Class Y do not have an initial sales charge; however, Class C does charge a contingent deferred redemption charge.  See the prospectus and summary prospectus for more information.

    1Van Eck Associates Corporation (the “Adviser”) has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, trading expenses, dividends and interest payments on securities sold short, taxes and extraordinary expenses) from exceeding 1.60% for Class A, 2.50% for Class C, 1.00% for Class I, and 1.10% for Class Y of the Fund’s average daily net assets per year until May 1, 2015. During such time, the expense limitation is expected to continue until the Board of Trustees acts to discontinue all or a portion of such expense limitation.

    2The Morgan Stanley Capital International (MSCI) Emerging Markets Index, calculated with dividends reinvested, captures 60% of the publicly traded equities in each industry for approximately 21 emerging markets. The Morgan Stanley Capital International (MSCI) Emerging Markets Small Cap Index, calculated with dividends reinvested, targets companies that are not in the standard emerging markets index.

    The views and opinions expressed are those of Van Eck Global. Fund manager commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Any discussion of specific securities mentioned in the commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary.

    You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to the risks associated with its investments in emerging markets securities, which tend to be more volatile and less liquid than securities traded in developed countries. The Fund’s investments in foreign securities involve risks related to adverse political and economic developments unique to a country or a region, currency fluctuations or controls, and the possibility of arbitrary action by foreign governments, including the takeover of property without adequate compensation or imposition of prohibitive taxation. The Fund is subject to risks associated with investments in debt securities, derivatives, commodity-linked instruments, illiquid securities, asset-backed securities, CMOs and small or mid-cap companies. The Fund is also subject to inflation risk, short-sales risk, market risk, non-diversification risk and leverage risk. Please see the prospectus and summary prospectus for information on these and other risk considerations.

    Investing involves risk, including possible loss of principal. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information.  Please read them carefully before investing. 

    Not FDIC Insured — No Bank Guarantee — May Lose Value 

    Van Eck Securities Corporation, Distributor
    335 Madison Avenue, 19th Floor
    New York, NY 10017
    800.826.2333