Polen Capital 5Perspectives U.S. Small Fund

Important Disclosures

This webpage is a marketing communication. Please see the Prospectus for additional information on the investment policy, objectives, and strategy of the Fund.

A summary of information about investors’ rights and collective redress mechanisms can be found in English in the Materials section on this website.

Holdings are subject to change. The top holdings, as well as other data, are as of the period indicated and should not be considered a recommendation to purchase, hold, or sell any particular security. There is no assurance that any of the securities noted will remain in a portfolio at the time you view this webpage. It should not be assumed that any of the holdings discussed were or will prove to be profitable or that the investment recommendations or decisions we make in the future will be profitable. For a complete list of all securities held in this Fund in the prior year, contact international@polencapital.com.

All performance is calculated in U.S. Dollars. Past performance is no indication of current or future performance. The performance data does not take account of the commissions and costs incurred on the issue and redemption of units.

The Fund is considered to be actively managed in reference to the Russell 2000 Growth (the “Benchmark”) by virtue of the fact that it uses the Benchmark for performance comparison purposes. Certain of the Fund’s securities may be components of and may have similar weightings to the Benchmark. However the Benchmark is not used to define the portfolio composition of the Fund or as a performance target and the Fund may be wholly invested in securities which are not constituents of the Benchmark.  

The Russell 2000® Growth Index is a market capitalization weighted index that measures the performance of the small-cap growth segment of the U.S. equity universe. It includes Russell 2000® Index companies with higher price/book ratios and higher forecasted growth values. The index is maintained by the FTSE Russell, a subsidiary of the London Stock Exchange Group. The volatility and other material characteristics of the indices referenced may be materially different from the performance achieved by an individual investor.  In addition, an investor’s holdings may be materially different from those within the index.  Indices are unmanaged and one cannot invest directly in an index.

Neither past experience nor the current situation are necessarily accurate guides to future growth in value or rate of return.

Risk factors you should consider before investing: The value of investments and any income will fluctuate and investors may not get back the full amount invested. Where the Fund’s Investment Manager has expressed views and opinions on this webpage, these may change. The Fund’s investments are concentrated in the U.S. This means the Fund may become more susceptible to fluctuations in value resulting from adverse economic or business conditions in the U.S., including legal, regulatory, and taxation changes. All performance data on this webpage are in USD currency. Changes in exchange rates may have an adverse effect on the value, price, or income of the product. Whilst the Company aims to ensure the accuracy of the data contained on this webpage, it is provided for information purposes only. It should not be relied on as the basis for making an investment decision. Investors should consider the investment objectives, risks and expenses of any investment carefully before investing as described in the Company’s Prospectus.

** Risk Statistics Glossary

Alpha: A measure of the difference between a portfolio’s actual returns and its expected performance, given its level of risk as measured by beta.
Beta: A measure of systematic risk with respect to a benchmark. Systematic risk is the tendency of the value of the portfolio and the value of benchmark to move together.
Downside Capture: is a statistical measure of overall performance relative to a benchmark during declining markets.        
Information Ratio: Information Ratio measures a portfolio’s returns above a benchmark while accounting for the volatility of those excess returns. Calculated as Excess Return divided by Tracking Error.
Sharpe Ratio: A risk-adjusted measure calculated by using standard deviation and excess return to determine reward per unit of risk.
Standard Deviation: Standard deviation measures the dispersion of a dataset relative to its mean. It is calculated as the square root of the variance. Standard deviation is used as a measure of a relative riskiness of an asset.
Upside Capture: is a statistical measure of overall performance relative to a benchmark during rising markets.  

*** Portfolio Characteristics Glossary

Active Share: Active share is a measure of the percentage of stock holdings in a manager’s portfolio that differ from the benchmark index.        
Annual Turnover: percentage of the portfolio's holdings that have been replaced in a given year.        
Estimated 3-Yr EPS Growth: The projected annualized growth rate of a company’s earnings per share over the next three fiscal years.
GICS Sectors: The Global Industry Classification Standard (GICS) is a system for categorizing every public company by economic sector and industry group.       
Historical 3-Yr EPS Growth: A measure of the annualized rate at which a company’s net earnings per share has increased over the past three fiscal years.
Number of Holdings: The number of securities held in the Fund’s portfolio.
P/E Forward (12m): denotes the weighted harmonic average of all the P/E’s of the securities in the fund’s portfolio.         A metric used to evaluate the valuation of a company relative to its expected earnings over the next 12 months. It helps assess whether a stock is over- or under-valued based on future potential earnings. To calculate the multiple, the company's share price is divided by the estimated earnings over the next 12 months. These ratios may be provided at the company and portfolio level, with the latter being a weighted average of company level estimates.
Polen Long Term EPS Growth Estimate: a Polen Capital estimate of projected long-term earnings growth rates (Earnings Growth is not a measure of future performance).        
Return on Invested Capital: assesses a company’s efficiency at allocating the capital and is measured by operating profit after taxes divided by investment capital.     
Risk-Adjusted Return: a calculation of the profit or potential profit from an investment that considers the degree of risk that must be accepted in order to achieve it.    
SFDR: Sustainable Finance Disclosure Regulation.   
Total Debt/ Total Capital: measures the total amount of outstanding company debt as a percentage of the firm’s total capitalization.       
Weighted Average Market Cap: A weighted average of the share price of each holding in the portfolio or benchmark multiplied by the number of shares outstanding for those respective holdings.

For the avoidance of doubt the portfolio characteristics are based on the underlying assets of the Fund. This information along with all other information on this webpage is not intended to be construed or understood in any way to equate to the expected or projected future performance/returns of the Fund. The Investment Manager may at any time determine to divest from some or all of the holdings in the Fund and invest in other assets. The information contained on this webpage is not a guarantee or indication of the future performance/returns of the Fund. As a result, there is a risk of an investor losing all or part of their investment in the Fund.

Additional Risk Information

Operational risk: management, business or administration processes, including those to do with the safekeeping of assets, may fail, leading to losses.

Counterparty risk: a counterparty may fail to deliver the proceeds related to the sale of securities by the Fund or in safekeeping of the securities purchased by the Fund.

Securities risk: some of the markets or exchanges on which the Fund may invest may go up and down, and the value of your investment may not increase.

The SRI represents the risk and return profile as presented in the Key Information Document (KID). The lowest category does not imply that there is no risk. The SRI is not guaranteed and may change over time. All investments involve risks. The risk information in this document is intended to give an idea of the main risks associated with this fund. Any of these risks could negatively impact the value of the fund. Please refer to the Prospectus and KID available at www.polencapital.com for further information on risks.

Fund Management

The management company of Polen Capital 5Perspectives U.S. Small Fund is Amundi Ireland Limited, 1 George’s Quay Plaza, George’s Quay, Dublin 2, Ireland. Amundi Ireland Limited is authorised and regulated by the Central Bank of Ireland. Please note that the management company may de-notify arrangements made for marketing as regards shares of the fund in a Member State of the EU in respect of which it has made a notification.

Sustainable Investing

For more product-specific information, please refer to the Sustainable Investing section of the Prospectus available at PolenCapital.com. The Sub-Fund (or Fund) promotes environmental and/or social characteristics and invests in companies which follow good corporate governance practices. Please see the Prospectus and the Pre-Contractual Annex available on the Global Distributor website for further information on the SFDR classification of the fund. The decision of the investor to invest in the promoted fund should consider all the characteristics or objectives of the fund. There is no guarantee that sustainable investing considerations will enhance a fund’s investment strategy or performance.

An investment in the Fund concerns the acquisition of shares in the Fund and not in any underlying asset. The value of the investment can reduce and increase; therefore, the return on the investment will be variable. Income may fluctuate in accordance with market conditions and taxation arrangements.

Amounts shown are expressed in USD unless otherwise indicated.

Jurisdiction-Specific Information

Polen Capital Investment Funds Plc has not been registered under the United States Investment Company Act of 1940, as amended, nor the United States Securities Act of 1933, as amended (1933 Act). No shares may be offered or sold, directly or indirectly in the United States or to any U.S. person unless the securities are registered under the 1933 Act, or an exemption from the registration requirements of the 1933 Act is available. A “U.S. person” is defined as (a) any individual who is a citizen or resident of the United States for federal income tax purposes; (b) a corporation, partnership or other entity created or organized under the laws of or existing in the United States; (c) an estate or trust the income of which is subject to United States federal income tax regardless of whether such income is effectively connected with a United States trade or business. In the United States, this material may be distributed only to a person who is a “distributor,” or who is not a “U.S. person,” as defined in Rule 902(k) of Regulation S under the U.S. Securities Act of 1933 (as amended).

UK Investors: Investors should read the prospectus, the Key Information Documents, the memorandum and articles of association as well as the annual and semi-annual reports of the Company before investing, copies of which are available free of charge from the fund’s UK Facilities Agent, Polen Capital UK LLP, 1st Floor, 15-18 Austin Friars, London EC2N 2HE, United Kingdom, Tel: 442080570457, email: international@polencapital.com web: PolenCapital.com. This webpage is issued by the Investment Manager.

Swiss Investors: This is an advertising document. The state of the origin of the fund is Ireland. In Switzerland, the representative is Acolin Fund Services AG, Maintower, Thurgauerstrasse 36/38, CH-8050 Zurich, Switzerland, whilst the paying agent is NPB Neue Privat Bank AG, Limmatquai1 / am Bellevue, CH-8024 Zurich. The prospectus, the key information documents, the articles of association as well as the annual and semi-annual reports may be obtained free of charge from the representative.

Investors should note that, relative to the expectations of the Autorité des Marchés Financiers, this UCITS presents disproportionate communication on the consideration of non-financial criteria in its investment policy.

A decision may be taken at any time to terminate the arrangements made for the marketing of the Fund in any EEA Member State in which it is currently marketed. In such circumstances, Shareholders in the affected EEA Member State will be notified of this decision and will be provided with the opportunity to redeem their shareholding in the Fund free of any charges or deductions for at least 30 working days from the date of such notification.

Notice to Hong Kong Investors: In Hong Kong, this content is only being made available to persons falling within the “Professional Investors” category defined in the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (SFC).  By entering this site, you confirm that you fall within the Professional Investors category and you are accessing the website on your own initiative without any solicitation to do so by Polen Capital HK Limited or one of the funds described herein (each, a “Fund”) and that no law or regulation prohibits you from accessing the information on this website. The Fund is not authorized by the SFC and is not publicly offered to all investors in Hong Kong.