Fund Facts

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† The Sextant Growth Fund began operation under its current objective Sept. 28, 1995. Previously, it was the Northwest Growth Fund. † The Sextant Bond Income Fund began operation under its current objective Sept. 28, 1995. Previously, it was the Washington Tax-Exempt Fund.

Portfolio Managers

Nicholas Kaiser MBA, CFA®
Portfolio Manager since 1995

Nicholas Kaiser, Chairman, was born in Bellingham in 1946. Mr. Kaiser graduated from Yale College, with a degree in economics and obtained his MBA from the University of Chicago in 1968, with dual majors in International Economics and Finance. Mr. Kaiser purchased control of Unified Management Corporation (Indianapolis) in 1976, and built it into a mid-sized investment management and brokerage firm. After selling Unified to a major insurance company, he returned to Bellingham and founded Saturna Capital in 1989.

Mr. Kaiser and his children control Saturna Capital through its voting stock. A Chartered Financial Analyst®, he is Saturna's global investment strategist. He serves Saturna's mutual funds as trustee, president, and equity portfolio manager.

Mr. Kaiser's industry activities include service with the Investment Company Institute (past Governor), CFA Institute (past chapter president), Financial Planning Association (past chapter president), and No-Load Mutual Fund Association (past national president). He currently serves on the volunteer boards of St. Paul's Academy, Mt. Baker Council of the Boy Scouts of America, the Mt. Baker Foundation, and Shawnigan Lake School. He supports a range of non-profit activities, such as the Kaiser Professorship in International Business at Western Washington University. A commercial pilot (retired), ocean sailor, and avid skier, he reads and travels extensively.

Mr. Kaiser has been named to Morningstar's Ultimate Stockpicker's list seven years running (2010 through 2016); he has twice been nominated for Morningstar's Domestic Stock Portfolio Manager of the Year (2006 & 2008) and twice been named to Barron's Top 100 Portfolio Managers (2001 & 2002). Mr. Kaiser was Northwest Business Monthly's Business Person of the Year in 2006, and received Whatcom Business Alliance'sLifetime Achievement Award in 2013.

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Scott Klimo CFA®
Deputy Portfolio Manager since 2014

Scott Klimo, Chief Investment Officer, joined Saturna Capital in May 2012. He received his BA in Asian Studies from Hamilton College in Clinton, NY and also attended the Chinese University of Hong Kong and the Mandarin Training Center in Taipei, Taiwan. Scott has over 25 years experience in the financial industry with the first several years of his career spent living and working in a variety of Asian countries and the past 10 years working as a senior analyst, research director and portfolio manager covering global equities. Mr. Klimo is a chartered financial analyst (CFA) charterholder and a private pilot. He is a supporter of various environmental organizations and served for several years on the Board of Directors of the Marin County Bicycle Coalition. Outside of work Mr. Klimo is an avid cyclist and scuba diver; pursuits he shares with his wife and two teenage children.

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Investment Style

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

Actively managed by the award-winning, values-based, global expertise of Saturna Capital

 

* Z Shares of the Fund are available for purchase without any minimum initial investment by:

  • Qualified and non-qualified employer-sponsored retirement or benefit plans, including 401(k) plans, 457 plans, 403(b) plans, profit-sharing plans, and deferred compensation plans; 
  • Qualified retirement or benefit plans, including IRA, ESA, and HSA plans serviced as trustee by Saturna Trust Company; and
  • Fee-based advisory programs (including mutual fund wrap programs) sponsored by financial intermediaries that provide bundled services for a fee.

Overview

Investment Objective

Long-term capital growth.

Principal Investment Strategies

The International Fund diversifies its investments among many countries, predominantly those with mature markets (such as Europe and Canada). The Fund invests at least 65% of its net assets in 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.

Principal Risks of Investing in the Fund

Market risk: The value of the Fund's shares rises and falls as the market value of the securities in which the Fund invests goes up and down. The market value of securities will fluctuate, sometimes significantly and unpredictably, with stocks generally being more volatile than bonds. When you redeem your shares, they may be worth more or less than what you paid for them. Only consider investing in the Fund if you are willing to accept the risk that you may lose money.

Equity securities risk: Equity securities may experience significant volatility in response to economic or market conditions or adverse events that affect a particular industry, sector, or company. Larger companies may have slower rates of growth as compared to smaller, faster-growing companies. Smaller companies may have more limited financial resources, products, or services, and tend to be more sensitive to changing economic or market conditions.

Foreign investing risk: Foreign investing involves risks not normally associated with US securities. These risks include fluctuations in currency exchange rates, less public information about securities, less governmental market supervision, and lack of uniform financial, social, and political standards. Foreign investing heightens the risk of confiscatory taxation, seizure or nationalization of assets, currency controls, or adverse political or social developments that affect investments.

Performance

Daily Price and Stats

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As of {{pricing_date | date:'MMMM dd, yyyy'}} Ticker Price Change YTD 30-Day Yield¹
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Average Annual Total Returns

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Month-end, as of {{month_end_pricing_date | date:'longDate'}} Ticker 1 Year 3 Year 5 Year 10 Year Expense Ratio² 30-Day Yield¹

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Quarter-end, as of {{quarter_end_pricing_date | date:'longDate'}} Ticker 1 Year 3 Year 5 Year 10 Year Expense Ratio² 30-Day Yield¹

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Growth of $10,000

Sextant International Fund 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.

Annual Total Returns

As of March 31, 2018

Sextant International Fund Annual Total Return Volatility Chart

The MSCI EAFE Index is an international index focused on Europe, Australasia, and the Far East. Investors cannot invest directly in the indices.

Holdings

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AllTop Ten Holdings

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Name Market Value Face Amount
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Sector Allocation

Security and sector weightings are shown as a percentage of total net assets.

Distributions

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Record Date Ex, Pay and
Reinvest Date
Ordinary
Income
Qualified
Income
Short-Term
Capital Gains
Long-Term
Capital Gains
Total Distributions
(per share)
Z Shares (SIFZX)
12/28/2017 12/29/2017 $0.00 $0.18652 $0.00 $1.26780 $1.45432
11/29/2017 11/30/2017 $0.00 $0.09253 $0.00 $0.00 $0.09253
Investor Shares (SSIFX)
12/28/2017 12/29/2017 $0.00 $0.17129 $0.00 $1.26780 $1.43909
11/29/2017 11/30/2017 $0.00 $0.06275 $0.00 $0.00 $0.06275
12/29/2016 12/30/2016 $0.00 $0.13976 $0.00 $0.00 $0.13976
11/29/2016 11/30/2016 $0.00 $0.05000 $0.00 $0.00 $0.05000
11/27/2015 11/30/2015 $0.00 $0.25637¹ $0.00 $0.00 $0.25637¹
11/26/2014 11/28/2014 $0.00 $0.62776 $0.00 $0.00 $0.62776
11/27/2013 11/29/2013 $0.00 $0.33720 $0.00 $0.00 $0.33720
11/29/2012 11/30/2012 $0.00 $0.14300 $0.00 $0.00 $0.14300
11/29/2011 11/30/2011 $0.00 $0.12200 $0.00 $0.00 $0.12200
11/29/2010 11/30/2010 $0.00 $0.05900 $0.00 $0.12372 $0.18272
11/27/2009 11/30/2009 $0.00 $0.03200 $0.00 $0.00 $0.03200

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The Sextant 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 November.

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.

Fees & Expenses

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 deducted from Fund Assets)²
  Investor Shares Z Shares
Management Fees (vary with performance) 0.54% 0.54%
Distribution (12b-1) Fees 0.25% None
Other Expenses 0.25% 0.25%
Total Annual Fund Operating Expenses 1.04% 0.79%

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).

Literature

 

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 28, 2018.

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.