Investment Objective
Capital appreciation.
Investment Approach
- Sustainability factors considered include resource efficiency, community and labor relations, board composition, and business ethics
- Characteristics of financial sustainability include management strength, low debt, and strong balance sheets
- Screens exclude security issuers primarily engaged in higher sustainability risk businesses; no alcohol, tobacco, pornography, weapons, gambling, or fossil fuel extraction
- Globally diversified
- Targeted to investors seeking long-term capital growth
- Generally large and mid-cap, but can invest in any capitalization domestic and foreign stocks
The Saturna Sustainable Equity Fund actively seeks issuers that demonstrate sustainable financial characteristics as well as a commitment to identifying and managing environmental, social, and governance-related risks.
Under normal conditions, the Fund invests at least 80% of its net assets in equities of issuers located throughout the world that the Fund’s adviser believes demonstrate sustainable characteristics. For purposes of this investment policy, the Fund’s adviser (Saturna Capital Corporation) considers issuers with sustainable characteristics to be those issuers that are more established, consistently profitable, financially strong, and with robust policies in the areas of sustainability.
The Fund’s adviser employs a fundamental research driven approach to stock selection and portfolio construction. The adviser’s focus on sustainability considers financial and non-financial characteristics from diverse sources including regulatory filings, market data, and data supplied by third-party vendors. The adviser uses that information to identify issuers with strong balance sheets, capable management teams with a track record of success, good cash flow, prospects for sustainable above-average earnings growth, and to assess issuers’ business models, over the long term.
The Fund’s adviser employs a proprietary sustainable rating system based on its own, as well as third-party, data to identify issuers believed to present low risks in sustainability. The use of third-party data does not include third-party sustainability ratings or criteria established by third parties for third-party ratings. The Fund’s sustainability evaluation process considers risks and opportunities holistically, meaning an issuer will not necessarily be excluded from investment due to any one particular factor if the overall analysis results in a favorable evaluation by the adviser. The Fund’s adviser also uses negative screening to exclude security issuers primarily engaged in higher sustainability risk businesses such as alcohol, tobacco, pornography, weapons, gambling, and fossil fuel exploration, production, or refining. The Fund generally does not invest in any issuer with exposure to the foregoing businesses, but may invest in an issuer if the issuer is not primarily engaged in higher sustainability risk businesses.
The Fund diversifies its investments across industries, companies, and countries, and generally follows a large and mid-cap value investment approach. The Fund prefers seasoned companies that are expected to grow revenue and earnings, favoring equities of companies trading for less than the adviser’s assessment of their intrinsic value, which typically means companies with low price/earnings multiples, strong balance sheets, and higher dividend yields. The Fund principally invests in securities of companies with market capitalizations of greater than $5 billion. The Fund may invest up to 30% of net assets in companies with headquarters in countries with developing economies and/or markets.
|
Ticker | 3 Month | 6 Month | YTD |
|---|---|---|---|---|
| Saturna Sustainable Equity | SEEFX | -3.70% | -7.75% | -3.70% |
| S&P Global 1200 Index | SPG1200T | -1.22% | -1.77% | -1.22% |
| Bloomberg World Large & Mid Cap Index | WORLDT | -1.24% | -2.12% | -1.24% |
|
Bloomberg World Large and 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 S&P Global 1200 Index is a global stock market index covering nearly 70% of the world's equity markets. Investors cannot invest directly in the index. | ||||
|
Ticker | 1 Year | 3 Year | 5 Year | 10 Year | Expense Ratio2 | 30-Day Yield1 |
|---|---|---|---|---|---|---|---|
| Saturna Sustainable Equity | SEEFX | -1.33% | 3.54% | 9.86% | 7.03% | 0.91% | 0.59% |
| S&P Global 1200 Index | SPG1200T | 7.74% | 8.17% | 16.40% | 10.07% | n/a | n/a |
| Bloomberg World Large & Mid Cap Index | WORLDT | 7.68% | 7.23% | 15.44% | 9.28% | 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 Sustainable Equity | SEEFX | -1.33% | 3.54% | 9.86% | 7.03% | 0.91% | 0.59% |
| S&P Global 1200 Index | SPG1200T | 7.74% | 8.17% | 16.40% | 10.07% | n/a | n/a |
| Bloomberg World Large & Mid Cap Index | WORLDT | 7.68% | 7.23% | 15.44% | 9.28% | 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 |
|---|---|
| NVIDIA | 5% |
| Taiwan Semiconductor ADS | 4.1% |
| Schneider Electric ADR | 3.6% |
| Wolters Kluwer | 3.6% |
| Eli Lilly | 3.4% |
| Holding | % of Net Assets |
|---|---|
| Novo Nordisk ADS | 3.3% |
| Apple | 3.1% |
| Assa Abloy ADR | 3.1% |
| Aviva PLC ADR | 3% |
| Siemens ADR | 2.8% |
*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.
| Holding | Market Value | Quantity |
|---|---|---|
| NVIDIA | $1,083,800 | 10,000 |
| Taiwan Semiconductor ADS | $883,950 | 5,325 |
| Schneider Electric ADR | $785,232 | 17,100 |
| Wolters Kluwer | $781,115 | 5,022 |
| Eli Lilly | $743,319 | 900 |
| Novo Nordisk ADS | $708,288 | 10,200 |
| Apple | $672,610 | 3,028 |
| Assa Abloy ADR | $666,610 | 44,500 |
| Aviva PLC ADR | $659,166 | 45,600 |
| Siemens ADR | $611,514 | 5,300 |
| TJX Companies | $609,000 | 5,000 |
| Chubb | $603,980 | 2,000 |
| Nintendo ADR | $561,888 | 32,725 |
| Home Depot | $549,735 | 1,500 |
| Microsoft | $539,811 | 1,438 |
| Unilever ADS | $524,040 | 8,800 |
| ServiceNow | $517,491 | 650 |
| Sony ADS | $507,800 | 20,000 |
| Accenture, Class A | $499,264 | 1,600 |
| Novartis ADS | $479,364 | 4,300 |
| Danone ADS | $477,672 | 31,200 |
| Mastercard, Class A | $471,383 | 860 |
| ASML Holding NY | $463,841 | 700 |
| Holding | Market Value | Quantity |
|---|---|---|
| TE Connectivity | $452,224 | 3,200 |
| NextEra Energy | $432,429 | 6,100 |
| Broadcom Ltd | $418,575 | 2,500 |
| L'Oreal ADR | $401,544 | 5,400 |
| Ferguson Enterprises Inc | $400,575 | 2,500 |
| CGI Group Inc Class A | $399,319 | 4,000 |
| Adobe | $383,530 | 1,000 |
| Ecolab | $380,280 | 1,500 |
| NXP Semiconductors | $372,518 | 1,960 |
| Roche Holding ADS | $370,350 | 9,000 |
| Fuji Electric Co., Ltd. | $364,466 | 8,500 |
| GlaxoSmithKline ADS | $356,408 | 9,200 |
| Dassault Systemes ADR | $347,165 | 9,100 |
| Cash & Equivalents | $325,093 | 0 |
| Alphabet, Class A | $278,352 | 1,800 |
| Dollarama Inc. | $256,636 | 2,400 |
| Linde | $232,820 | 500 |
| Canadian Pacific Kansas City Ltd | $224,672 | 3,200 |
| Prysmian S.p.A. | $219,965 | 4,000 |
| Fiserv | $198,747 | 900 |
| Corteva | $188,790 | 3,000 |
| Murata Manufacturing | $185,656 | 12,000 |
| Sandoz Group AG | $36,051 | 860 |
Sector Allocation
| Sector | % of Net Assets |
|---|---|
| Technology | 36.2% |
| Industrials | 20.8% |
| Health Care | 12.5% |
| Financials | 8.9% |
| Consumer Staples | 7.7% |
| Sector | % of Net Assets |
|---|---|
| Consumer Discretionary | 5.4% |
| Materials | 3.7% |
| Utilities | 2% |
| Other | 1.5% |
| Communications | 1.3% |
*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 | $0.0932 | $0.00 | $0.00 | $0.0932 |
| 12/20/2023 | 12/21/2023 | $0 | $0.175 | $0.00 | $0.00 | $0.175 |
| 12/14/2022 | 12/15/2022 | $0 | $0.14 | $0.00 | $0.00 | $0.14 |
| 12/15/2021 | 12/16/2021 | $0.00 | $0.12 | $0.00 | $0.00 | $0.12 |
The Saturna Sustainable Equity Fund intends to distribute its net investment income and net realized capital gains, if any, to its shareowners. Distributions from net capital gains and dividend income, if any, are paid at the end of the year; as a result of its investment strategy, the Equity Fund may not pay income dividends.
Both dividends and capital gain distributions are paid in additional full and fractional shares of the share class owned. At your option, you may receive dividends and/or capital gain distributions in cash. You are notified of each dividend and capital gain distribution when paid. Returned dividend payments will be automatically reinvested into your account and invested in additional shares of the Fund; future dividends in such accounts will continue to be reinvested until the shareowner is located or the account is closed.
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)
| Management Fees | 0.65% |
| Other Expenses | 0.26% |
| Total Annual Fund Operating Expenses | 0.91% |
| Fee Waiver and Expense Reimbursement1 | -0.16% |
| Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement | 0.75% |
1 The Adviser has committed through March 31, 2026, to waive fees and/ or reimburse expenses to the extent necessary to ensure that the Fund’s net operating expenses, excluding brokerage commissions, interest, taxes, and extraordinary expenses, do not exceed the net operating expense ratio of 0.75%. This expense limitation agreement may be changed or terminated only with approval of the Board of Trustees.
Investment Minimum
| The minimum initial investment is $1,000 (for tax-sheltered accounts, there is no minimum). |