Pear Tree Polaris International Opportunities Fund

The PEAR TREE POLARIS INTERNATIONAL OPPORTUNITIES FUND provides investors with the opportunity to participate in the growth potential of companies predominantly located in developed foreign countries.

Investment Process

The Fund will generally own approximately 75 stocks of non-U.S. companies located in Europe, Australia and the Far East. In addition, the Fund may also invest in companies located in emerging markets. The diversification within the Fund, coupled with the fact that the operation of the Fund’s investment model will generally lead the Fund to be invested in 15 or more foreign markets, reduces the likelihood that negative performance of a single country will significantly impact the Fund's return.

Buy and Sell Discipline

The investment process for the Fund combines both quantitative and fundamental techniques. The Fund's approach is primarily “bottom up,” searching for individual stocks with strong, undervalued cash flows, regardless of location or industry. The Fund uses proprietary models to rank countries and industries on the basis of value and to narrow a universe of over 40,000 companies down to 400 to 600 for further consideration. The Fund supplements the screening process by performing in-depth financial and fundamental analysis.

Portfolio Management

The Fund is managed by Polaris Capital Management, LLC, a Boston, Massachusetts money manager that specializes in the management of global, international, and domestic equity portfolios. Polaris brings over 35 years of investment experience to the Fund.

Fund Overview

YTD RETURN*
8.23%

NAV*
$14.47

INCEPTION
January 30, 2019

MINIMUM INVESTMENT
$2,500

CUSIP
70472Q757

BENCHMARK
MSCI ACWI ex US

NET EXPENSE RATIO(1)
1.62%

GROSS EXPENSE RATIO(2)
1.62%

 

*as of 11/29/2021

Investment Professionals

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Sub-Advisor

Polaris Capital Management, LLC

Polaris is a leading global value equity manager, serving the investment needs of institutions and individuals since 1995. At Polaris Capital Management, we have a disciplined approach to investing in undervalued companies around the world, regardless of country, industry or market capitalization.

Portfolio Managers

Bernard R. Horn, Jr.
Sumanta Biswas, CFA
Bin Xiao, CFA
Jason Crawshaw

Performance

YTD
As Of 11/29/2021
Quarterly
As Of 09/30/2021
1 Year
As Of 09/30/2021
3 Years
As Of 09/30/2021
5 Years
As Of 09/30/2021
10 Years
As Of 09/30/2021
Since Inception As Of
09/30/2021
Total Gross Expense Ratio(1) Total Net Expense Ratio(2)
8.23% 0.55% 36.64% N/A N/A N/A 15.50% 1.62% 1.62%

Calendar Year

2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
13.26% N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

Portfolio

as of September 30, 2021

Top Ten Holdings

Percentage Of Total Net Assets 25.40%
SINBON Electronics Co., Ltd. 4.50%
Chailease Holding Co., Ltd. 2.70%
Bravida Holding AB 2.70%
POYA International Co., Ltd. 2.50%
BizLink Holding, Inc. 2.30%
VIB Vermögen AG 2.20%
NEXTAGE Co., Ltd. 2.20%
Sanwa Holdings Corporation 2.10%
Knowit AB 2.10%
Scientex Berhad 2.10%

Sector Weightings

Percentage Of Total Net Assets 100.0%
Financials 20.70%
Consumer Discretionary 20.60%
Materials 16.70%
Industrials 11.10%
Communication Services 8.90%
Information Technology 8.20%
Consumer Staples 5.10%
Health Care 5.10%
Real Estate 1.50%
Cash and Other Assets (Net) 2.10%

Top Ten Country Allocations

Percentage Of Total Net Assets 70.40%
Taiwan 17.10%
United Kingdom 9.70%
Japan 7.50%
Sweden 7.40%
China 7.00%
Canada 6.40%
Germany 4.00%
South Korea 3.90%
France 3.80%
Malaysia 3.60%

Portfolio Characteristics

Net Assets $25,070,621
Number Of Holdings 64
Percentage in Top 10 Holdings 25.40%
Weighted Average Market Cap (Mil) $23,858.48
Annual Turnover 55.00%

Portfolio Allocation

Percentage of Portfolio 100.0%
Equity Securities 98.90%
Cash and Other Assets (Net) 1.10%

Distributions

Dividend Short-Term Capital Gain Long-Term Capital Gain
2020 $0.3544 $0.0000 $0.0000
2019 $0.2522 $0.0000 $0.0000
2018 $0.1094 $0.0000 $0.0780

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost.

Before investing, carefully consider the Fund's investment objectives, risks, charges and expenses. For this and other information obtain the Fund's prospectus or, if available, the Fund's summary prospectus by calling (800) 326-2151 or by clicking the Literature and Forms section of this website to view or download a prospectus or, if available, a summary prospectus. Please read the prospectus carefully before you invest or send money.

1, 3, 5, and 10Yr performance numbers quoted are average annual total returns. Performance numbers quoted under one year are cumulative.

Polaris Capital began subadvising the Pear Tree Small Cap Fund on January 1, 2015.

Axiom International Investors began subadvising the Pear Tree Axiom Emerging Markets World Equity Fund December 8, 2018.

The Pear Tree Essex Environment Opportunities Fund (the “Fund”) is the successor to the investment performance of the Essex Environmental Opportunities Fund (“Predecessor Fund”) as a result of the reorganization of the Predecessor Fund into the Environmental Opportunities Fund on September 1, 2021. Performance information shown prior to the close of business on August 31, 2021 is that of the Predecessor Fund’s for the Fund’s Ordinary Shares and Institutional Shares.

Expense Ratios Disclosure

1. Expense Ratio (Gross)
The gross expense ratio is the total operating expense from the class of shares of the fund stated as a percent of the fund's total net assets as disclosed in the fund’s most recent prospectus before waivers or reimbursements.

2. Expense Ratio (Net)
Net Expense Ratio is the total annual operating expense from the class of shares of the funds stated as a percent of the fund's total net assets as disclosed in the fund’s most recent prospectus after any fee waiver and/or expense reimbursements that will reduce any fund operating expenses until July 31, 2022 for all funds and share classes except Pear Tree Essex Environmental Opportunities Fund. Fee waivers and/or expense reimbursement for Pear Tree Essex Environmental Opportunities Fund and its share classes are in effect through August 31, 2022.

Risk Disclosure

Pear Tree Polaris Foreign Value
Pear Tree Polaris Foreign Value Small Cap
Pear Tree Polaris International Opportunities
Pear Tree Polaris Small Cap
Pear Tree Axiom Emerging Markets World Equity
Pear Tree Essex Environmental Opportunities

Foreign and Emerging Market Risk. Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.

Small Cap Investing. The value of securities of smaller, less well-known issuers can perform differently from the market as a whole and other types of stocks and can be more volatile than that of larger issuers.