Investment Philosophy / Process

  • The strategy seeks to avoid full participation in speculative bubbles and exhibit less extreme downturns during market shocks
  • Filter: seek to reduce uncompensated exposure to equity market risks such as earnings sustainability, high volatility, speculation, distress risk
  • Diversify: seek to reduce exposure to concentration risk
  • Implement: benefit from investment experience while managing costs

1290 SmartBeta Equity Fund Recognized as Best Fund Over a Three-Year Period in the Global Large-Cap Core Classification

From Refinitiv Lipper Awards, ©2019 Refinitiv. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited.

1290 SmartBeta Equity Fund received a Lipper Fund Award from Refinitiv for best fund over a three-year period in the Global Large-Cap Core Funds classification. 1290 SmartBeta Equity Fund was ranked first in Consistent Return over 36 months out of 15 funds in Lipper’s Global Large-Cap Core classification. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Lipper Fund Award. A Lipper Leader for Consistent Return is a fund that has provided superior consistency and risk-adjusted returns when compared to a group of similar funds. Lipper Leader ratings for Consistent Return reflect funds’ historic returns, adjusted for volatility, relative to peers. The overall calculation is based on an equal-weighted average of percentile ranks for the Consistent Return metrics over 3-years, 5-years and ten years. The calculation periods are through the end of November of the respective evaluation year. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. This award is valid from 3/7/2019-March 2020.

Fund Details

  Class A Class I Class R
Ticker TNBAX TNBIX TNBRX
CUSIP 68246A 884 68246A 868 68246A 850
ISIN US68246A8844 US68246A8687 US68246A8505
Investment Minimum* $1,000 for all accounts
except:
• $500 for certain fee-
based programs
• $500, if establishing
an Automatic Bank
Draft Plan
• $250 minimum for purchases
by accounts through eligible
financial intermediary platforms
that have entered into
selling or service agreements
with the Distributor and
that are eligible to purchase
Class A shares without
a sales charge
• No minimum for
certain employer-sponsored
retirement plans and
certain wrap fee based programs
$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 investment
for a wrap account client
of an eligible broker-dealer
or a client of a fee-based
planner that is unaffiliated
with a broker-dealer
No minimum
< Swipe table for more info >

*Read the Prospectus for more information.

How the Fund invests

Under normal market conditions, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities. The Fund invests primarily in equity securities of U.S. companies and foreign companies in developed markets. The Fund may invest in large, mid and small capitalization companies and will be broadly diversified across companies and industries.

Fund Objective

Seeks to achieve long-term capital appreciation.

A SmartBeta strategy designed to complement traditional indexing

Where does 1290 SmartBeta Equity fit relative to other index approaches?

graph
  • Pure lower risk approaches (such as minimum volatility) focus solely on lowering volatility, and may suffer from weaker returns
  • Pure fundamental approach (based on factors such as cash flow, dividend) seeks higher return but can suffer from the effects of higher volatility
  • SmartBeta equity approach seeks to combine attributes of lower risk-focused and fundamental approaches, while aiming to avoid the limitations of index tracking

Portfolio Managers

AXA logo

Gideon Smith, CFA®

Europe Chief Investment Officer & Global Head of Portfolio Management, Rosenberg Equities

Gideon joined Rosenberg Equities in 1998 and is currently the Europe chief investment officer based in the firm's London office. He previously held a number of positions at the firm, including Europe deputy chief investment officer, director of client services and head of strategy engineering for Europe. Prior to joining Rosenberg Equities, Gideon was a chartered accountant at Arthur Andersen working in their Financial Markets Division in London.

Gideon obtained his BSc from Manchester University in 1992 and received his MBA from London Business School in 2000. He is a holder of the Chartered Financial Analyst designation.

Anubhuti Gupta, CFA ®

Head of Portfolio Management for Asia

Rosenberg Equities, AXA Investment Managers

Anubhuti is Head of Portfolio Management for Asia at Rosenberg Equities. She initially joined AXA IM in 2005 as a Portfolio Manager. Prior to joining AXA IM, Anubhuti was an intern with a Singapore-based hedge fund.

Anubhuti holds an MSc in Financial Engineering from the NTU Graduate School of Business and a BEng from Nanyang Technological University (NTU) in Singapore. She also has a certificate in Computational Finance from Carnegie Mellon University Tepper School of Business. She is a holder of the Chartered Financial Analyst, Chartered Alternative Investment Analyst, and Certificate in Investment Performance Measurement designations.

CFA is a registered trademark of the CFA Institute.

The success of the Fund’s investment strategy depends largely on the effectiveness of the Sub-Adviser’s quantitative model for screening securities for investment. Securities selected using quantitative analysis can react differently to issuer, political, market, and economic developments than the market as a whole or securities selected using only fundamental analysis, which could adversely affect value. The factors used in quantitative analysis and the weight placed on those factors may not be predictive of a security’s value. In addition, factors that affect a security’s value can change over time and these changes may not be reflected in the quantitative model.

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 09/30/2019 subject to change

Security Weight %
Procter & Gamble Co. (The)1.22%
PepsiCo, Inc.1.09%
Coca-Cola Co. (The)1.09%
Microsoft Corp.1.04%
Visa, Inc., Class A0.95%
Medtronic plc0.94%
Verizon Communications, Inc.0.93%
AT&T, Inc.0.88%
Home Depot, Inc. (The)0.82%
Berkshire Hathaway, Inc., Class B0.82%
Costco Wholesale Corp.0.79%
Toronto-Dominion Bank (The)0.78%
UnitedHealth Group, Inc.0.77%
Chubb Ltd.0.76%
Accenture plc, Class A0.76%

Monthly Performance as of 10/31/2019

Total Returns
Fund1 month3 monthYTD1 yr3 yr5 yrSI1
Class A (NAV)1.06%2.69%21.27%15.81%12.38% - 8.22%
Class A with sales charges (MOP)2-4.51%-2.98%14.60%9.47%10.27% - 7.00%
Class I (NAV)1.06%2.77%21.44%16.16%12.66% - 8.49%
Class R (NAV)1.06%2.62%21.00%15.55%12.09% - 7.95%
MSCI World (Net) Index32.54%2.58%20.60%12.69%11.86% - 7.53%
< Swipe table for more info >

Quarterly Performance as of 09/30/2019

Total Returns
Fund1 month3 monthYTD1 yr3 yr5 yrSI1
Class A (NAV)1.77%1.85%20.00%7.82%10.91% - 8.14%
Class A with sales charges (MOP)2-3.79%-3.72%13.40%1.87%8.85% - 6.89%
Class I (NAV)1.77%1.93%20.16%8.08%11.19% - 8.41%
Class R (NAV)1.70%1.78%19.73%7.47%10.62% - 7.86%
MSCI World (Net) Index32.13%0.53%17.61%1.83%10.21% - 7.11%
< Swipe table for more info >

Morningstar Rating: Category
as of

Overall 3 Year
Rating
# of Funds

Overall Morningstar Rating as of based on risk-adjusted returns (I share).

Morningstar Category Ranking
as of

Morningstar RatingTM Out of # of Funds
1 Year
3 Year

As of , for class I shares (). Other share classes may have different ratings. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10- year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. The Morningstar percentile ranking is based on the fund’s total-return percentile rank relative to all managed products that have the same category for the same time period. The highest (or most favorable) percentile rank is 1%, and the lowest (or least favorable) percentile rank is 100%. Morningstar total return includes both income and capital gains or losses and is not adjusted for sales charges.

Expense Ratios as of 03/01/2019

Fund Gross Expense Ratio Net Expense Ratio4
Class A Shares2.42%1.15%
Class I Shares2.16%0.90%
Class R Shares2.66%1.40%

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 November 12, 2014.

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 World (Net) Index: An unmanaged index considered representative of stock markets of developed countries.

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, 2020 (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 not incurred in the ordinary course of the Fund’s business) do not exceed an annual rate of average daily net assets of 0.90% for Class A shares, Class T 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, 2020.

Distributions

Class A

Record DateEx-DatePayable DateOrdinary IncomeShort-Term Capital GainLong-Term Capital Gain
12/12/201812/13/201812/13/2018$0.1400-$0.4300
12/13/201712/14/201712/14/2017$0.1480$0.0640$0.1310
12/15/201612/16/201612/16/2016$0.1100--
12/30/201512/31/201512/31/2015$0.1467--
12/30/201412/31/201412/31/2014$0.0297--
< Swipe table for more info >

Class I

Record DateEx-DatePayable DateOrdinary IncomeShort-Term Capital GainLong-Term Capital Gain
12/12/201812/13/201812/13/2018$0.1700-$0.4300
12/13/201712/14/201712/14/2017$0.1750$0.0640$0.1310
12/15/201612/16/201612/16/2016$0.1370--
12/30/201512/31/201512/31/2015$0.1726--
12/30/201412/31/201412/31/2014$0.0331--
< Swipe table for more info >

Class R

Record DateEx-DatePayable DateOrdinary IncomeShort-Term Capital GainLong-Term Capital Gain
12/12/201812/13/201812/13/2018$0.1100-$0.4300
12/13/201712/14/201712/14/2017$0.1180$0.0640$0.1310
12/15/201612/16/201612/16/2016$0.0830--
12/30/201512/31/201512/31/2015$0.1209--
12/30/201412/31/201412/31/2014$0.0262--
< Swipe table for more info >