Investment Objective
Long-term capital growth.
Investment Approach
- Targeted to investors seeking long-term capital growth
- Generally large-cap, and can invest in foreign stocks with market capitalizations greater than $1 billion
- Diversified across industries, companies, and countries
- Value investment style, favoring income-producing securities of more seasoned companies
The International Fund diversifies its investments among many countries, predominantly those with mature markets (such as Europe and Canada). The Fund may also invest in companies in emerging markets. The Fund invests at least 65% of its net assets in equity securities of companies with their headquarters, and at least half of their assets and earnings, outside the US. The Fund diversifies its investments across industries, companies, and countries. The Fund looks for companies with growing revenues and earnings, favoring companies trading for less than the adviser’s assessment of intrinsic value, which typically means companies with low price/earning multiples, low price to cash flow, and higher dividend yields. The Fund principally invests in securities of companies with market capitalizations greater than $1 billion.
|
Ticker | 3 Month | 6 Month | YTD |
|---|---|---|---|---|
| Saturna International Investor | SSIFX | -3.37% | -10.80% | -3.37% |
| Saturna International Z | SIFZX | -3.26% | -10.71% | -3.26% |
| MSCI EAFE Index | GDDUEAFE | 7.01% | -1.62% | 7.01% |
| Bloomberg Developed Markets ex US Large & Mid Cap Index | DMXUT | 6.38% | -1.34% | 6.38% |
|
Bloomberg Developed Markets ex US Large & Mid Cap Total Return Index is a float market-cap-weighted equity benchmark that covers the top 85% of market cap of the measured market. The MSCI EAFE Index is an international index focused on Europe, Australasia, and the Far East. Investors cannot invest directly in the indices. | ||||
|
Ticker | 1 Year | 3 Year | 5 Year | 10 Year | Expense Ratio2 | 30-Day Yield1 |
|---|---|---|---|---|---|---|---|
| Saturna International Investor | SSIFX | -8.63% | 1.95% | 10.06% | 6.49% | 0.96% | 0.11% |
| Saturna International Z | SIFZX | -8.43% | 2.19% | 10.30% | n/a | 0.73% | 0.36% |
| MSCI EAFE Index | GDDUEAFE | 5.41% | 6.60% | 12.31% | 5.91% | n/a | n/a |
| Bloomberg Developed Markets ex US Large & Mid Cap Index | DMXUT | 5.98% | 6.38% | 12.82% | 6.10% | n/a | n/a |
|
Performance data quoted represents past performance which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. Standardized returns current to the most recent month-end can be obtained by visiting our Month-end Returns Page or by calling toll free 1-800-728-8762. The Fund cannot guarantee that its investment objective will be met. Securities of the Fund are offered and sold only through the prospectus or summary prospectus. ¹ A Fund's 30-Day Yield, sometimes referred to as "standardized yield" or "SEC yield,” is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). The 30-Day Yield provides an estimate of a Fund's investment income rate, but may not equal the actual income distribution rate. ² Expense ratios shown are as stated in the Fund's most recent prospectus or summary prospectus dated March 31, 2025. | |||||||
|
Ticker | 1 Year | 3 Year | 5 Year | 10 Year | Expense Ratio2 | 30-Day Yield1 |
|---|---|---|---|---|---|---|---|
| Saturna International Investor | SSIFX | -8.63% | 1.95% | 10.06% | 6.49% | 0.96% | 0.11% |
| Saturna International Z | SIFZX | -8.43% | 2.19% | 10.30% | n/a | 0.73% | 0.36% |
| MSCI EAFE Index | GDDUEAFE | 5.41% | 6.60% | 12.31% | 5.91% | n/a | n/a |
| Bloomberg Developed Markets ex US Large & Mid Cap Index | DMXUT | 5.98% | 6.38% | 12.82% | 6.10% | n/a | n/a |
|
Performance data quoted represents past performance which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. Standardized returns current to the most recent month-end can be obtained by visiting our Month-end Returns Page or by calling toll free 1-800-728-8762. The Fund cannot guarantee that its investment objective will be met. Securities of the Fund are offered and sold only through the prospectus or summary prospectus. ¹ A Fund's 30-Day Yield, sometimes referred to as "standardized yield" or "SEC yield,” is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). The 30-Day Yield provides an estimate of a Fund's investment income rate, but may not equal the actual income distribution rate. ² Expense ratios shown are as stated in the Fund's most recent prospectus or summary prospectus dated March 31, 2025. | |||||||
Growth of $10,000
This chart illustrates the performance of a hypothetical $10,000 invested at the beginning of the period and redeemed at the end of the period, and assumes reinvestment of all dividends and capital gains.
Holdings
as of 03/31/2025
Top Ten Holdings
| Holding | % of Net Assets |
|---|---|
| MercadoLibre | 7.7% |
| Wolters Kluwer | 6.3% |
| Taiwan Semiconductor ADS | 6% |
| Dassault Systemes ADR | 5.5% |
| Broadcom Ltd | 5.5% |
| Holding | % of Net Assets |
|---|---|
| ASML Holding NY | 5.4% |
| Novo Nordisk ADS | 5.4% |
| SAP ADS | 5.1% |
| NICE Systems ADR | 4.3% |
| Ferguson Enterprises Inc | 3.6% |
*Current portfolio holdings may not be indicative of future portfolio holdings.
1 Percentage of total investments includes all stocks, plus cash minus all short positions.
2 Total represents the difference between the long exposure and the short exposure, which produces the net exposure.
| Holding | Market Value | Quantity |
|---|---|---|
| MercadoLibre | $4,945,455 | 2,535 |
| Wolters Kluwer | $4,026,741 | 25,889 |
| Taiwan Semiconductor ADS | $3,871,120 | 23,320 |
| Dassault Systemes ADR | $3,514,187 | 92,115 |
| Broadcom Ltd | $3,507,659 | 20,950 |
| ASML Holding NY | $3,475,494 | 5,245 |
| Novo Nordisk ADS | $3,470,264 | 49,975 |
| SAP ADS | $3,256,177 | 12,130 |
| NICE Systems ADR | $2,793,560 | 18,120 |
| Ferguson Enterprises Inc | $2,332,949 | 14,560 |
| Johnson Controls International | $2,118,910 | 26,450 |
| Siemens Healthineers AG | $2,061,512 | 38,250 |
| Schneider Electric | $1,986,720 | 8,615 |
| Linde | $1,804,355 | 3,875 |
| Fuji Electric Co., Ltd. | $1,710,848 | 39,900 |
| Iberdrola | $1,611,318 | 99,885 |
| Holding | Market Value | Quantity |
|---|---|---|
| Rio Tinto ADS | $1,610,144 | 26,800 |
| Assa Abloy AB - B | $1,544,122 | 51,400 |
| Experian PLC | $1,527,889 | 33,000 |
| Eaton Corp PLC | $1,519,530 | 5,590 |
| Hermes International | $1,471,935 | 560 |
| ABB Ltd Reg | $1,341,471 | 26,000 |
| Alcon | $1,254,975 | 13,220 |
| Cash & Equivalents | $1,248,097 | 0 |
| Danone SA | $1,146,118 | 15,000 |
| Fortinet Inc. | $1,142,606 | 11,870 |
| Prysmian S.p.A. | $1,050,333 | 19,100 |
| Sandoz Group AG | $922,497 | 22,000 |
| AstraZeneca ADS | $845,250 | 11,500 |
| Nintendo | $630,686 | 9,250 |
| Accenture, Class A | $524,227 | 1,680 |
Sector Allocation
| Sector | % of Net Assets |
|---|---|
| Technology | 35.3% |
| Industrials | 27.4% |
| Health Care | 13.3% |
| Consumer Discretionary | 10% |
| Materials | 5.3% |
| Sector | % of Net Assets |
|---|---|
| Utilities | 2.5% |
| Financials | 2.4% |
| Other | 1.9% |
| Consumer Staples | 1.8% |
*Current portfolio holdings may not be indicative of future portfolio holdings.
1 Percentage of total investments includes all stocks, plus cash minus all short positions.
2 Total represents the difference between the long exposure and the short exposure, which produces the net exposure.
Security and sector weightings are shown as a percentage of total net assets.
Distributions
| Record Date | Ex, Pay and Reinvest Date | Ordinary Income | Qualified Income | Short-Term Capital Gains | Long-Term Capital Gains | Total Distributions (per share) |
|---|---|---|---|---|---|---|
| 12/18/2024 | 12/19/2024 | $0 | $0.02 | $0.00 | $0.118 | $0.138 |
| 12/20/2023 | 12/21/2023 | $0 | $0.12 | $0.00 | $0.00 | $0.12 |
| 12/15/2021 | 12/16/2021 | $0.00 | $0.18 | $0.00 | $1.756 | $1.936 |
| Record Date | Ex, Pay and Reinvest Date | Ordinary Income | Qualified Income | Short-Term Capital Gains | Long-Term Capital Gains | Total Distributions (per share) |
|---|---|---|---|---|---|---|
| 12/18/2024 | 12/19/2024 | $0.00 | $0.00 | $0.00 | $0.118 | $0.118 |
| 12/20/2023 | 12/21/2023 | $0 | $0.075 | $0.00 | $0.00 | $0.075 |
| 12/15/2021 | 12/16/2021 | $0.00 | $0.13 | $0.00 | $1.756 | $1.886 |
The Saturna International Fund intends to distribute its net investment income and net realized capital gains, if any, to its shareowners. Distributions from income dividends and net capital gains are paid at the end of the year.
Distributions for the last five years are listed in the table above. For prior distributions, please contact a Saturna representative.
Regulations regarding distributions can be complex, and there are several methods for managing your tax liability. Please consult a tax advisor about your particular circumstances. You also may obtain helpful information by calling the Internal Revenue Service at 1-800-829-1040 or visiting www.irs.gov.
If applicable, distribution information will appear on Form 1099-DIV, typically sent in late January. For more information on tax documentation, please visit our Tax Documentation page.
The Fund pays per-share distributions to shareowners invested on the Record Date. On the Payable Date, the fund's share price is reduced by the amount of its distribution.
The following tables describe the fees and expenses mutual fund shareowners may pay. There are no shareowner fees (fees paid directly from an investment). The Fund imposes no sales charge (load) on purchases or reinvested dividends, or any deferred sales charge (load) upon redemption. There are no exchange fees or account fees. Investments in mutual funds are subject to ongoing expenses. Saturna endeavors to keep these fees low. We encourage you to compare the following fees with similar fees of other no-load mutual funds:
Shareowner Fees
(fees paid directly from your investment)
| None |
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Investor Shares | Z Shares | |
| Management Fees1 | 0.50% | 0.50% |
| Distribution (12b-1) Fees | 0.25% | None |
| Other Expenses | 0.21% | 0.23% |
| Total Annual Fund Operating Expenses | 0.96% | 0.73% |
When you buy shares through a financial intermediary, that intermediary may charge a transaction fee or commission which is not reflected in the expenses table. Purchases and redemptions of Fund shares will be made at the daily net asset value established by the Fund (before imposition of a commission).
Investment Minimum
| The minimum initial investment for both Investor Shares and Z Shares is $1,000 (for tax-sheltered accounts, there is no minimum). |