The Horizon Kinetics Full-Cycle Inflation Equity UCITS ETF is an actively managed UCITS ETF that seeks long-term growth of capital in real (inflation-adjusted) terms. It seeks to achieve its investment objective by investing primarily in domestic and foreign equity securities of companies that are expected to benefit, either directly or indirectly, from rising prices of real assets (i.e., assets whose value is mainly derived from physical properties such as commodities) such as those whose revenues are expected to increase with inflation without corresponding increases in expenses.
Data as of: 10/29/2025
Ticker
INFBN NA
CUSIP
BN6QZP2
ISIN
IE000Z7ELYY2
Fund Type
Active Equity ETF
Exchange
EAM/XDUB
Inception Date
3/16/2023 (NAV) | 3/23/2023 (Trading)
Expense Ratio
0.85%
Typical Number of Holdings
20 to 60
Net Assets
$36,771,113
Shares Outstanding
1,000,000
Data as of: 10/30/2025
Daily Holdings
-
% Net Assets
7.26%
-
Name
WHEATON PRECIOUS METALS CORP
-
Ticker
WPM US
-
CUSIP
BDG1S92
-
Shares Held
28,062
-
Market Value
$2,670,941
-
% Net Assets
5.90%
-
Name
LANDBRIDGE CO LLC-A
-
Ticker
LB US
-
CUSIP
BLD7424
-
Shares Held
36,060
-
Market Value
$2,168,648
-
% Net Assets
4.82%
-
Name
CAMECO CORP
-
Ticker
CCJ US
-
CUSIP
2158684
-
Shares Held
16,600
-
Market Value
$1,770,722
-
% Net Assets
4.59%
-
Name
FRANCO-NEVADA CORP
-
Ticker
FNV US
-
CUSIP
B29VF02
-
Shares Held
9,060
-
Market Value
$1,689,599
-
% Net Assets
4.55%
-
Name
VIPER ENERGY INC-CL A
-
Ticker
VNOM US
-
CUSIP
BW0WZZ9
-
Shares Held
45,086
-
Market Value
$1,673,592
-
% Net Assets
4.55%
-
Name
WATERBRIDGE INFRASTRUC-CL A
-
Ticker
WBI US
-
CUSIP
BMVFC45
-
Shares Held
71,052
-
Market Value
$1,674,696
-
% Net Assets
4.45%
-
Name
TEXAS PACIFIC LAND CORP
-
Ticker
TPL US
-
CUSIP
BM99VY2
-
Shares Held
1,769
-
Market Value
$1,635,264
-
% Net Assets
4.32%
-
Name
PRAIRIESKY ROYALTY LTD
-
Ticker
PSK CT
-
CUSIP
BN320L4
-
Shares Held
88,560
-
Market Value
$1,587,902
-
% Net Assets
3.92%
-
Name
INTERCONTINENTAL EXCHANGE IN
-
Ticker
ICE US
-
CUSIP
BFSSDS9
-
Shares Held
9,560
-
Market Value
$1,439,927
-
% Net Assets
3.91%
-
Name
OR ROYALTIES INC
-
Ticker
OR US
-
CUSIP
BPJJWN9
-
Shares Held
45,128
-
Market Value
$1,438,681
-
% Net Assets
3.80%
-
Name
Cash & Other
-
Ticker
Cash&Other
-
CUSIP
Cash&Other
-
Shares Held
1,396,297
-
Market Value
$1,396,297
-
% Net Assets
3.13%
-
Name
DEUTSCHE BOERSE AG
-
Ticker
DB1 GR
-
CUSIP
7021963
-
Shares Held
4,504
-
Market Value
$1,149,894
-
% Net Assets
3.07%
-
Name
SINGAPORE EXCHANGE LTD
-
Ticker
SGX SP
-
CUSIP
6303866
-
Shares Held
86,060
-
Market Value
$1,129,689
-
% Net Assets
3.02%
-
Name
HAWAIIAN ELECTRIC INDS
-
Ticker
HE US
-
CUSIP
2415204
-
Shares Held
96,221
-
Market Value
$1,111,353
-
% Net Assets
2.94%
-
Name
CME GROUP INC
-
Ticker
CME US
-
CUSIP
2965839
-
Shares Held
4,133
-
Market Value
$1,080,903
-
% Net Assets
2.89%
-
Name
CHENIERE ENERGY INC
-
Ticker
LNG US
-
CUSIP
2654364
-
Shares Held
5,032
-
Market Value
$1,062,406
-
% Net Assets
2.76%
-
Name
DIGITALBRIDGE GROUP INC
-
Ticker
DBRG US
-
CUSIP
BPW6ZP0
-
Shares Held
79,901
-
Market Value
$1,014,743
-
% Net Assets
2.45%
-
Name
PERMIAN BASIN ROYALTY TRUST
-
Ticker
PBT US
-
CUSIP
2681964
-
Shares Held
49,934
-
Market Value
$902,307
-
% Net Assets
2.43%
-
Name
TMX GROUP LTD
-
Ticker
X CT
-
CUSIP
B8KH5G7
-
Shares Held
25,000
-
Market Value
$893,465
-
% Net Assets
2.25%
-
Name
BUNGE GLOBAL SA
-
Ticker
BG US
-
CUSIP
BQ6BPG9
-
Shares Held
8,600
-
Market Value
$826,460
-
% Net Assets
2.07%
-
Name
MARSH & MCLENNAN COS
-
Ticker
MMC US
-
CUSIP
2567741
-
Shares Held
4,220
-
Market Value
$759,558
-
% Net Assets
1.89%
-
Name
GLENCORE PLC
-
Ticker
GLEN LN
-
CUSIP
B4T3BW6
-
Shares Held
141,503
-
Market Value
$693,147
-
% Net Assets
1.66%
-
Name
ASX LTD
-
Ticker
ASX AU
-
CUSIP
6129222
-
Shares Held
16,420
-
Market Value
$611,987
-
% Net Assets
1.36%
-
Name
JAPAN EXCHANGE GROUP INC
-
Ticker
8697 JP
-
CUSIP
6743882
-
Shares Held
45,200
-
Market Value
$498,821
-
% Net Assets
1.33%
-
Name
WEST FRASER TIMBER CO LTD
-
Ticker
WFG US
-
CUSIP
B3BK690
-
Shares Held
7,892
-
Market Value
$489,856
-
% Net Assets
1.26%
-
Name
BROOKFIELD ASSET MANAGE-CL A
-
Ticker
BN US
-
CUSIP
BP95GG8
-
Shares Held
9,936
-
Market Value
$462,521
-
% Net Assets
1.16%
-
Name
DETERRA ROYALTIES LTD
-
Ticker
DRR AU
-
CUSIP
BJP5T05
-
Shares Held
159,200
-
Market Value
$428,084
-
% Net Assets
1.15%
-
Name
MIAMI INTERNATIONAL HOLDINGS
-
Ticker
MIAX US
-
CUSIP
BRT7Y75
-
Shares Held
9,808
-
Market Value
$423,215
-
% Net Assets
1.13%
-
Name
SPROTT INC
-
Ticker
SII US
-
CUSIP
BMCB532
-
Shares Held
5,040
-
Market Value
$414,490
-
% Net Assets
1.08%
-
Name
ST JOE CO/THE
-
Ticker
JOE US
-
CUSIP
2768663
-
Shares Held
8,120
-
Market Value
$398,124
-
% Net Assets
1.03%
-
Name
MESABI TRUST
-
Ticker
MSB US
-
CUSIP
2582506
-
Shares Held
10,748
-
Market Value
$378,555
-
% Net Assets
0.97%
-
Name
ROYALTY PHARMA PLC- CL A
-
Ticker
RPRX US
-
CUSIP
BMVP7Y0
-
Shares Held
9,720
-
Market Value
$356,432
-
% Net Assets
0.93%
-
Name
TOPAZ ENERGY CORP
-
Ticker
TPZ CN
-
CUSIP
BMV3Y21
-
Shares Held
19,133
-
Market Value
$341,413
-
% Net Assets
0.89%
-
Name
ALTIUS MINERALS CORPORATION
-
Ticker
ALS CT
-
CUSIP
2122355
-
Shares Held
12,480
-
Market Value
$326,573
-
% Net Assets
0.86%
-
Name
WILMAR INTERNATIONAL LTD
-
Ticker
WIL SP
-
CUSIP
B17KC69
-
Shares Held
130,032
-
Market Value
$314,719
-
% Net Assets
0.82%
-
Name
TEJON RANCH CO
-
Ticker
TRC US
-
CUSIP
2880448
-
Shares Held
19,219
-
Market Value
$301,162
-
% Net Assets
0.55%
-
Name
SAN JUAN BASIN ROYALTY TR
-
Ticker
SJT US
-
CUSIP
2775113
-
Shares Held
36,907
-
Market Value
$200,405
-
% Net Assets
0.52%
-
Name
LONDON STOCK EXCHANGE GROUP
-
Ticker
LSEG LN
-
CUSIP
B0SWJX3
-
Shares Held
1,536
-
Market Value
$191,886
-
% Net Assets
0.48%
-
Name
SABINE ROYALTY TRUST
-
Ticker
SBR US
-
CUSIP
2764809
-
Shares Held
2,523
-
Market Value
$177,468
-
% Net Assets
0.47%
-
Name
CLARKSON PLC
-
Ticker
CKN LN
-
CUSIP
0201836
-
Shares Held
3,600
-
Market Value
$172,901
-
% Net Assets
0.46%
-
Name
LABRADOR IRON ORE ROYALTY CO
-
Ticker
LIF CT
-
CUSIP
B8L02P3
-
Shares Held
8,400
-
Market Value
$170,608
-
% Net Assets
0.39%
-
Name
DORCHESTER MINERALS LP
-
Ticker
DMLP US
-
CUSIP
2336576
-
Shares Held
5,720
-
Market Value
$142,886
-
% Net Assets
0.21%
-
Name
METALLA ROYALTY & STREAMING
-
Ticker
MTA US
-
CUSIP
BL0N0S3
-
Shares Held
11,579
-
Market Value
$77,927
-
% Net Assets
0.15%
-
Name
TOEI ANIMATION CO LTD
-
Ticker
4816 JP
-
CUSIP
6301871
-
Shares Held
2,855
-
Market Value
$55,710
-
% Net Assets
0.13%
-
Name
IG PORT INC
-
Ticker
3791 JP
-
CUSIP
B0QJFC7
-
Shares Held
5,272
-
Market Value
$48,780
-
% Net Assets
0.04%
-
Name
LITHIUM ROYALTY CORP
-
Ticker
LIRC CN
-
CUSIP
BMF9CX2
-
Shares Held
3,025
-
Market Value
$15,528
Data as of: 10/30/2025
Daily Holdings
-
% Net Assets
Name
Ticker
CUSIP
Shares Held
Market Value
-
7.26%
WHEATON PRECIOUS METALS CORP
WPM US
BDG1S92
28,062
$2,670,941
-
5.90%
LANDBRIDGE CO LLC-A
LB US
BLD7424
36,060
$2,168,648
-
4.82%
CAMECO CORP
CCJ US
2158684
16,600
$1,770,722
-
4.59%
FRANCO-NEVADA CORP
FNV US
B29VF02
9,060
$1,689,599
-
4.55%
VIPER ENERGY INC-CL A
VNOM US
BW0WZZ9
45,086
$1,673,592
-
4.55%
WATERBRIDGE INFRASTRUC-CL A
WBI US
BMVFC45
71,052
$1,674,696
-
4.45%
TEXAS PACIFIC LAND CORP
TPL US
BM99VY2
1,769
$1,635,264
-
4.32%
PRAIRIESKY ROYALTY LTD
PSK CT
BN320L4
88,560
$1,587,902
-
3.92%
INTERCONTINENTAL EXCHANGE IN
ICE US
BFSSDS9
9,560
$1,439,927
-
3.91%
OR ROYALTIES INC
OR US
BPJJWN9
45,128
$1,438,681
-
3.80%
Cash & Other
Cash&Other
Cash&Other
1,396,297
$1,396,297
-
3.13%
DEUTSCHE BOERSE AG
DB1 GR
7021963
4,504
$1,149,894
-
3.07%
SINGAPORE EXCHANGE LTD
SGX SP
6303866
86,060
$1,129,689
-
3.02%
HAWAIIAN ELECTRIC INDS
HE US
2415204
96,221
$1,111,353
-
2.94%
CME GROUP INC
CME US
2965839
4,133
$1,080,903
-
2.89%
CHENIERE ENERGY INC
LNG US
2654364
5,032
$1,062,406
-
2.76%
DIGITALBRIDGE GROUP INC
DBRG US
BPW6ZP0
79,901
$1,014,743
-
2.45%
PERMIAN BASIN ROYALTY TRUST
PBT US
2681964
49,934
$902,307
-
2.43%
TMX GROUP LTD
X CT
B8KH5G7
25,000
$893,465
-
2.25%
BUNGE GLOBAL SA
BG US
BQ6BPG9
8,600
$826,460
-
2.07%
MARSH & MCLENNAN COS
MMC US
2567741
4,220
$759,558
-
1.89%
GLENCORE PLC
GLEN LN
B4T3BW6
141,503
$693,147
-
1.66%
ASX LTD
ASX AU
6129222
16,420
$611,987
-
1.36%
JAPAN EXCHANGE GROUP INC
8697 JP
6743882
45,200
$498,821
-
1.33%
WEST FRASER TIMBER CO LTD
WFG US
B3BK690
7,892
$489,856
-
1.26%
BROOKFIELD ASSET MANAGE-CL A
BN US
BP95GG8
9,936
$462,521
-
1.16%
DETERRA ROYALTIES LTD
DRR AU
BJP5T05
159,200
$428,084
-
1.15%
MIAMI INTERNATIONAL HOLDINGS
MIAX US
BRT7Y75
9,808
$423,215
-
1.13%
SPROTT INC
SII US
BMCB532
5,040
$414,490
-
1.08%
ST JOE CO/THE
JOE US
2768663
8,120
$398,124
-
1.03%
MESABI TRUST
MSB US
2582506
10,748
$378,555
-
0.97%
ROYALTY PHARMA PLC- CL A
RPRX US
BMVP7Y0
9,720
$356,432
-
0.93%
TOPAZ ENERGY CORP
TPZ CN
BMV3Y21
19,133
$341,413
-
0.89%
ALTIUS MINERALS CORPORATION
ALS CT
2122355
12,480
$326,573
-
0.86%
WILMAR INTERNATIONAL LTD
WIL SP
B17KC69
130,032
$314,719
-
0.82%
TEJON RANCH CO
TRC US
2880448
19,219
$301,162
-
0.55%
SAN JUAN BASIN ROYALTY TR
SJT US
2775113
36,907
$200,405
-
0.52%
LONDON STOCK EXCHANGE GROUP
LSEG LN
B0SWJX3
1,536
$191,886
-
0.48%
SABINE ROYALTY TRUST
SBR US
2764809
2,523
$177,468
-
0.47%
CLARKSON PLC
CKN LN
0201836
3,600
$172,901
-
0.46%
LABRADOR IRON ORE ROYALTY CO
LIF CT
B8L02P3
8,400
$170,608
-
0.39%
DORCHESTER MINERALS LP
DMLP US
2336576
5,720
$142,886
-
0.21%
METALLA ROYALTY & STREAMING
MTA US
BL0N0S3
11,579
$77,927
-
0.15%
TOEI ANIMATION CO LTD
4816 JP
6301871
2,855
$55,710
-
0.13%
IG PORT INC
3791 JP
B0QJFC7
5,272
$48,780
-
0.04%
LITHIUM ROYALTY CORP
LIRC CN
BMF9CX2
3,025
$15,528
Data as of: 10/29/2025
-
Net Asset Value
$36.77
-
NAV Change
$0.31
-
Median 30 Day Spread
.000000%
-
Market Price
$37.16
-
Market Price Change
$0.04
-
Premium/Discount
$0.39 | 1.057600%
Historical Data
Premium/Discount Range (%)
Date
-
Greatest Premium
8.413400% 10/10/2025
-
Greatest Discount
-.488900% 10/02/2025
-
Number of Days At
-
Premium:
17
-
NAV:
0
-
Discount:
3
-
Days Within Percent of NAV
-
Percent of Days +/- 0.5% of NAV:
50%
-
Number of Days +/- 0.5% of NAV:
10
Historical NAV
Data as of: 09/30/2025
(** YTD as of 10/29/2025)
-
INFBN
NAV
-
1 Month
3.39%
-
YTD **
14.83%
-
1 Year
20.57%
-
3 Year
--
-
5 Year
--
-
Since Inception Annualized
17.87%
-
INFBN
Market Value
-
1 Month
4.33%
-
YTD **
15.33%
-
1 Year
18.79%
-
3 Year
--
-
5 Year
--
-
Since Inception Annualized
17.30%
Data as of: 09/30/2025
(** YTD as of 10/29/2025)
-
INFBN
1 Month
YTD **
1 Year
3 Year
5 Year
Since Inception Annualized
-
NAV
3.39%
14.83%
20.57%
--
--
17.87%
-
Market Value
4.33%
15.33%
18.79%
--
--
17.30%
Latest Distribution History
-
Ex-Dividend Date
Jun 26, 2025
-
Record Date
Jun 27, 2025
-
Payable Date
Jun 30, 2025
-
Income
$0.0615
-
Short Term Capital Gain
$0.00
-
Long Term Capital Gain
$0.00
-
Return of Capital
$0.00
-
Total
$0.0615
-
Ex-Dividend Date
Mar 27, 2025
-
Record Date
Mar 28, 2025
-
Payable Date
Mar 31, 2025
-
Income
$0.1295
-
Short Term Capital Gain
$0.00
-
Long Term Capital Gain
$0.00
-
Return of Capital
$0.00
-
Total
$0.1295
-
Ex-Dividend Date
Dec 27, 2024
-
Record Date
Dec 30, 2024
-
Payable Date
Dec 31, 2024
-
Income
$0.0631
-
Short Term Capital Gain
$0.00
-
Long Term Capital Gain
$0.00
-
Return of Capital
$0.00
-
Total
$0.0631
-
Ex-Dividend Date
Sept 26, 2024
-
Record Date
Sept 27, 2024
-
Payable Date
Sept 30, 2024
-
Income
$0.1013
-
Short Term Capital Gain
$0.00
-
Long Term Capital Gain
$0.00
-
Return of Capital
$0.00
-
Total
$0.1013
-
Ex-Dividend Date
Jun 27, 2024
-
Record Date
Jun 28, 2024
-
Payable Date
Jul 1, 2024
-
Income
$0.0769
-
Short Term Capital Gain
$0.00
-
Long Term Capital Gain
$0.00
-
Return of Capital
$0.00
-
Total
$0.0769
-
Ex-Dividend Date
Apr 3, 2024
-
Record Date
Apr 4, 2024
-
Payable Date
Apr 5, 2024
-
Income
$0.2167
-
Short Term Capital Gain
$0.00
-
Long Term Capital Gain
$0.00
-
Return of Capital
$0.00
-
Total
$0.2167
Latest Distribution History
-
Ex-Dividend
DateRecord Date
Payable Date
Income
Short Term
Capital GainLong Term
Capital GainReturn of
CapitalTotal
-
Jun 26, 2025
Jun 27, 2025
Jun 30, 2025
$0.0615
$0.00
$0.00
$0.00
$0.0615
-
Mar 27, 2025
Mar 28, 2025
Mar 31, 2025
$0.1295
$0.00
$0.00
$0.00
$0.1295
-
Dec 27, 2024
Dec 30, 2024
Dec 31, 2024
$0.0631
$0.00
$0.00
$0.00
$0.0631
-
Sept 26, 2024
Sept 27, 2024
Sept 30, 2024
$0.1013
$0.00
$0.00
$0.00
$0.1013
-
Jun 27, 2024
Jun 28, 2024
Jul 1, 2024
$0.0769
$0.00
$0.00
$0.00
$0.0769
-
Apr 3, 2024
Apr 4, 2024
Apr 5, 2024
$0.2167
$0.00
$0.00
$0.00
$0.2167
Resources
-
Q3 2025 INFBN Distribution
View PDF -
INFBN Factsheet
View PDF -
INFBN NA Presentation
View PDF -
Unaudited Interim Financial Statements as of June 30, 2025
View PDF -
Annual Report and Audited Financial Statements as of December 31, 2024
View PDF -
Unaudited Interim Financial Statements as of June 30, 2024
View PDF -
Q1 2025 INFBN Distribution
View PDF -
Q4 2024 INFBN Distribution
View PDF -
Q3 2024 INFBN Distribution
View PDF -
Q2 2024 INFBN Distribution
View PDF -
Q1 2024 INFBN Distribution
View PDF -
Annual Report and Audited Financial Statements as of December 31, 2023
View PDF -
Horizon Kinetics ICAV - Fund Name Change Notice
View PDF -
INFBN 2023 Mid-Year Letter
View PDF -
Unaudited Interim Financial Statements as of June 30, 2023
View PDF -
Horizon Kinetics ICAV Supplement
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Horizon Kinetics ICAV Prospectus
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Horizon Kinetics ICAV Privacy Notice
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Key Information Document (English)
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Key Information Document (Spanish)
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Key Information Document (Italian)
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Key Information Document (German)
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Key Information Document (Dutch)
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Key Investor Information Document (UK)
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Sustainable Finance Disclosures Regulation Details
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Country of Registrations
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Q3 2025 INFBN Distribution
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INFBN Factsheet
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INFBN NA Presentation
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Unaudited Interim Financial Statements as of June 30, 2025
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Annual Report and Audited Financial Statements as of December 31, 2024
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Unaudited Interim Financial Statements as of June 30, 2024
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Q1 2025 INFBN Distribution
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Q4 2024 INFBN Distribution
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Q3 2024 INFBN Distribution
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Q2 2024 INFBN Distribution
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Q1 2024 INFBN Distribution
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Annual Report and Audited Financial Statements as of December 31, 2023
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Horizon Kinetics ICAV - Fund Name Change Notice
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INFBN 2023 Mid-Year Letter
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Unaudited Interim Financial Statements as of June 30, 2023
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Horizon Kinetics ICAV Supplement
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Horizon Kinetics ICAV Prospectus
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Horizon Kinetics ICAV Privacy Notice
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Key Information Document (English)
View PDF -
Key Information Document (Spanish)
View PDF -
Key Information Document (Italian)
View PDF -
Key Information Document (German)
View PDF -
Key Information Document (Dutch)
View PDF -
Key Investor Information Document (UK)
View PDF -
Sustainable Finance Disclosures Regulation Details
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Country of Registrations
View PDF
Press
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Horizon Kinetics on Money Tree Investing Podcast – Challenging Conventional Wisdom: Alternative Insights From James Davolos (May 2024)
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Interview with Markets Media (06/07/2023)
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Horizon Kinetics Launches Inflation Beneficiaries UCITS ETF (INFBN)
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Horizon Kinetics enters Europe race with active inflation ETF (ETF Stream 3/16/23)
Read
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Horizon Kinetics on Money Tree Investing Podcast – Challenging Conventional Wisdom: Alternative Insights From James Davolos (May 2024)
Watch -
Interview with Markets Media (06/07/2023)
Read -
Horizon Kinetics Launches Inflation Beneficiaries UCITS ETF (INFBN)
Read -
Horizon Kinetics enters Europe race with active inflation ETF (ETF Stream 3/16/23)
Read
IMPORTANT RISK DISCLOSURES
Please consider carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, you may obtain the Fund’s Prospectus by clicking HERE, the Fund’s Prospectus Supplement by clicking HERE, or by contacting 646-495-7333. Read them carefully before investing.
Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. Since Inception returns are calculated from the first available trading date of 3/23/2023.
The Horizon Kinetics Full-Cycle Inflation Equity Fund UCITS ETF (the “Fund”) is an actively managed UCITS ETF that seeks long-term growth of capital in excess of inflation. It seeks to achieve its investment objective by investing primarily in domestic and foreign equity securities of companies that are expected to benefit, either directly or indirectly, from rising prices of real assets (i.e., assets whose value is mainly derived from physical properties such as commodities) such as those whose revenues are expected to increase with inflation without corresponding increases in expenses.
On May 20, 2024, the Fund changed its name from the Horizon Kinetics Inflation Beneficiaries to the Horizon Kinetics Full-Cycle Inflation Equity Fund UCITS ETF.
The Fund’s Ticker is INFBN and is traded on the Euronext Amsterdam Stock Exchange (EAM) and Euronext Dublin Stock Exchange (XDUB).
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The Fund’s investments in securities linked to real assets involve significant risks, including financial, operating, and competitive risks. Investments in securities linked to real assets expose the Fund to potentially adverse macroeconomic conditions, such as a rise in interest rates or a downturn in the economy in which the asset is located.
The Fund is non‐diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. Fund holdings and sector allocations are subject to change at any time and should not be considered recommendations to buy or sell any security. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets.
The Fund may invest in the securities of smaller and mid‐capitalization companies, which may be more volatile than funds that invest in larger, more established companies. The Fund is actively managed and may be affected by the investment adviser’s security selections. Diversification does not assure a profit or protect against a loss in a declining market.
Sustainable Finance Disclosures Regulation Details: CLICK HERE