Investment Philosophy / Process

  • The Global Talents strategy is built on the manager's belief that there is a natural alignment of interests between entrepreneur-owned businesses and long term investors goals.
  • The Fund's primary focus is to invest in talented entrepreneurs who have a strong track record of creating value and who retain a significant stake in their businesses.
  • The Fund seeks companies displaying entrepreneurial characteristics by taking a holistic view of a business, looking at the overall strength of its business model, corporate governance practices and quality of management or management's "track record" and the ability to execute on opportunities.

Fund Details

  Class A Class I Class R
Ticker TNYAX TNYFX TNTRX
CUSIP 68259P 489 68259P 463 68259P 455
ISIN US68259P4899 US68259P4634 US68259P4550
Investment Minimum* $1,000 for all accounts
except:
• $500 for certain fee-
based programs
• $500, if establishing
an Automatic Bank
Draft Plan
• No minimums for
certain employer-sponsored
retirement plans
$1,000,000 for certain
institutions and individuals
• $1,000 for certain
employees (or their
immediate family
members) of AXA
Financial or its
subsidiaries
• Class I Shares are
available to clients of
registered investment
advisers who have
$250,000 invested in
the Fund
No minimum

*Read the Prospectus for more information.

Fund Objective

Seeks to provide long term capital growth.

How the Fund invests

The Fund will primarily invest in a diversified portfolio of equity securities issued by U.S. and non-U.S. companies that AXA Investment Managers, Inc. (the "Sub-Adviser") has identified as being entrepreneur-led businesses whose long term growth prospects are not being fully reflected in current market valuations. The equity securities the Fund will invest in include common stock, preferred stock, depositary receipts, securities convertible into common and preferred stock and nonconvertible preferred stock. The Fund may invest in securities of non-U.S. issuers that can be U.S. dollar based or non-U.S. dollar based. The Fund may invest in securities of companies of any market capitalization.

The Talents' team investment mind-set can be characterized by three distinct attributes:

  • Fundamental stock selection through diligent analysis and intellectual curiosity
  • Portfolios constucted with strong awareness of risk but with real stock conviction and high active share
  • Research strength from the team's experience and the open architecture in which research is applied

Portfolio Construction Process

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Portfolio Managers

AXA Investment Managers logo

Mark Beveridge, CFA®

Lead Fund Manager and Portfolio Manager/Analyst of AXA Investment Managers

Mark has served as Global Head of Framlington Equities since 2009. He is a member of AXA Investment Managers Management Board and is Portfolio Manager of Global Talents strategies. Prior to his current role, Mark served as Partner/Managing Director at Goldman Sachs Asset Management in London from 2004 to 2009. Prior to this, he was the Executive Vice President at Franklin Templeton Group, as well as a Portfolio Manager/Analyst between 1985 and 2004. Mark has over 30 years of investment experience, and is also a CFA® charter holder. Mark graduated from the University of Miami and holds a Bachelor of Business Administration in Finance.

William Howard, CFA®

Portfolio Manager/Analyst of AXA Investment Managers

William became Portfolio Manager at Framlington Equities in 2012, responsible for managing Global High Income strategies. Prior to his current role at AXA Investment Managers, William served as Managing Director/Portfolio Manager at Goldman Sachs from 2005 to 2009. Between 1993 and 2004, William was Portfolio Manager/Analyst at Templeton Investment Council. Prior to this, he was Senior International Portfolio Manager at Tennessee Consolidate Retirement System from 1986 to 1993 William graduated from Rhodes College and holds a BA in International Studies. He later attended Goizueta Business School at Emory University where he received his MA in Business Administration. William is also a CFA® charter holder.

CFA is a registered trademark of the CFA Institute.

Investments in foreign securities, including depositary receipts, involve risks not associated with investing in U.S. securities. Foreign markets, particularly emerging markets, may be less liquid, more volatile and subject to less government supervision than domestic markets. Security values also may be negatively affected by changes in the exchange rates between the U.S. dollar and foreign currencies. Differences between U.S. and foreign legal, political and economic systems, regulatory regimes and market practices also may impact security values and it may take more time to clear and settle trades involving foreign securities.

Top 15 Holdings as of 06/30/2017 subject to change

Security Weight %
Amazon.com, Inc.3.27%
Berkshire Hathaway, Inc., Class B3.07%
Charles Schwab Corp. (The)3.04%
SoftBank Group Corp.2.99%
Alibaba Group Holding Ltd. (ADR)2.97%
Apple, Inc.2.88%
Ecolab, Inc.2.76%
IPG Photonics Corp.2.74%
Roche Holding AG2.73%
Alphabet, Inc., Class A2.60%
Wells Fargo & Co.2.52%
Stryker Corp.2.51%
Fresenius SE & Co. KGaA2.48%
Kose Corp.2.47%
Facebook, Inc., Class A2.46%

Monthly Performance as of 08/31/2017

Total Returns
Fund1 month3 monthYTD1 yrSI1
Class A (NAV)1.34%4.13%16.55%15.23%15.09%
Class A with sales charges (MOP)2-4.27%-1.62%10.19%8.93%10.52%
Class I (NAV)1.33%4.20%16.83%15.56%15.41%
Class R (NAV)1.26%4.05%16.39%14.96%14.82%
MSCI ACWI (Net) Index30.38%3.66%15.03%17.11%17.40%

Quarterly Performance as of 06/30/2017

Total Returns
Fund1 month3 monthYTD1 yrSI1
Class A (NAV)0.17%5.14%12.13%17.42%13.70%
Class A with sales charges (MOP)2-5.36%-0.60%6.01%10.96%8.56%
Class I (NAV)0.17%5.23%12.31%17.66%13.99%
Class R (NAV)0.17%5.16%12.05%17.12%13.46%
MSCI ACWI (Net) Index30.45%4.27%11.48%18.78%17.00%

Expense Ratios as of 03/01/2017

Fund Gross Expense Ratio Net Expense Ratio4
Class A Shares2.31%1.25%
Class I Shares2.06%1.00%
Class R Shares2.56%1.50%

Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance data may be higher or lower than actual data quoted. For the most current month-end performance data please call (888) 310-0416.

One cannot invest directly in an index.

Returns for periods of less than one year are not annualized.

1Fund inception date of April 11, 2016.

2Maximum Offering Price (MOP) for Class A shares includes the Fund's maximum sales charge of 5.50%. Performance shown at NAV does not include these sales charges and would have been lower had it been taken into account.

3MSCI ACWI (Net) Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets.

4Pursuant to a contract, 1290 Asset Managers has agreed to make payments or waive its management, administrative and other fees to limit the expenses of the Fund through April 30, 2018 (unless the Board of Trustees consents to an earlier revision or termination of this arrangement) ("Expense Limitation Arrangement") so that the annual operating expenses of the Fund (exclusive of taxes, interest, brokerage commissions, capitalized expenses (other than offering costs), fees and expenses of other investment companies in which the Fund invests, 12b-1 fees, and extraordinary expenses) do not exceed an annual rate of average daily net assets of 1.00% for Class A shares, Class I shares and Class R Shares of the Fund. The Expense Limitation Arrangement may be terminated by 1290 Asset Managers at any time after April 30, 2018.

Distributions

Class A

Record DateEx-DatePayable DateShort-Term Capital Gain
12/15/201612/16/201612/16/2016$0.0400

Class I

Record DateEx-DatePayable DateOrdinary IncomeShort-Term Capital Gain
12/15/201612/16/201612/16/2016$0.0057$0.0400

Class R

Record DateEx-DatePayable DateShort-Term Capital Gain
12/15/201612/16/201612/16/2016$0.0400