Driehaus Emerging Markets Growth
Second Quarter 2010
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Portfolio Manager:
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Howard Schwab |
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Assistant Portfolio Manager:
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Chad Cleaver |
| Assets Under Management as of 6/30/10: |
$639 Million
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| Inception Date: |
1/1/97
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| Separately Managed Accounts Minimum Initial Investment: |
$20 Million
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Investment Objective: Maximize capital appreciation by investing primarily in the equity securities of emerging market companies.
Investment Strategy: The Emerging Markets Growth Strategy invests in emerging markets companies. The strategy typically maintains a portfolio consisting of 70 to 90 stocks and generally limits individual positions to less than 5% at cost.
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Regional Weightings (as of 6/30/10)
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Top Ten Holdings (as of 7/31/10)
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Asia
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49.7%
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Samsung Electronics Co. Ltd.
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2.7%
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Americas
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24.0%
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OGX Petroleo e Gas Participacoes S/A
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2.2%
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Europe
|
6.6%
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Shinhan Financial Group Co. Ltd.
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1.9%
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Middle East
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6.3%
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Petrobras Petroleo Brasileiro
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1.9%
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Africa
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6.3%
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Itau Unibanco Banco Multiplo SA
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1.8%
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Cash
|
7.1%
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China Mobile Ltd.
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1.8%
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|
|
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PDG Realty S/A Empreendimentos e Participacoes
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1.8%
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|
|
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Lupin Ltd.
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1.7%
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|
|
|
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Truworths International Ltd.
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1.6%
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Baidu Inc. ADS
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1.6%
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Country Weightings (as of 6/30/10)
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Sector Weightings (as of 6/30/10)
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Brazil
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15.4%
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Financials
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17.6%
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| South Korea |
10.8%
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Information Technology
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13.6%
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India
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9.0%
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Consumer Staples
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13.5%
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China
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9.0%
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Energy
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11.2%
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Taiwan
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7.5%
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Consumer Discretionary
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10.8%
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Hong Kong
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6.0%
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Materials
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7.7%
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Mexico
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5.6%
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Industrials
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6.8%
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South Africa
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5.3%
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Telecommunication Services
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5.7%
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United Kingdom
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3.2%
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Health Care
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4.9%
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Malaysia
|
2.7%
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Cash
|
7.0%
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Israel
|
2.7%
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Unassigned
|
1.0% |
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Turkey
|
2.7%
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|
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Indonesia
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2.7%
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Russia
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2.4%
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Canada
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2.2%
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|
|
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Philippines
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1.3%
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|
|
|
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Peru
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1.1%
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|
|
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Qatar
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1.1%
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|
|
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Egypt
|
1.0%
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|
|
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Hungary
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0.8%
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|
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Thailand
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0.6%
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Cash
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7.0%
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Average Annual Total Return (as of 6/30/10)
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| __________Annualized__________ |
| |
2nd QTR
|
YTD |
1 Year |
3 Year |
5 Year |
10 Year |
Since
Inception
(1/1/97) |
| Driehaus Emerging Markets Growth |
-6.40%
|
-3.25%
|
28.02%
|
-3.13%
|
15.26%
|
11.66%
|
14.06%
|
| MSCI Emerging Markets Growth Index1 |
-8.77%
|
-6.49%
|
22.87%
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-4.97%
|
11.17%
|
7.32%
|
6.27%
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| MSCI Emerging Markets Index2 |
-8.29%
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-6.05%
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23.47%
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-2.22%
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13.07%
|
10.34%
|
7.65%
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|
Cumulative Total Return (1/1/97 to 6/30/10)
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| Driehaus Emerging Markets Growth |
490%
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| MSCI Emerging Markets Growth Index1 |
127%
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| MSCI Emerging Markets Index2 |
170%
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For the most current month-end summary sheet for the Driehaus Emerging Markets Growth Strategy, please click here.
1The Morgan Stanley Capital International Emerging Markets Growth Index (MSCI Emerging Markets Growth Index) is a subset of the MSCI Emerging Markets Index and includes only the MSCI Emerging Markets Index stocks which are categorized as growth stocks.
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