KP International Equity Fund

Investment Objective

The fund seeks long-term capital appreciation primarily through investments in a diversified portfolio of non-U.S. equity securities.

Investment Strategy

The fund seeks to out-perform the MSCI All Country World Index ex-US Investable Market Index over time by employing a “multi-manager” approach, whereby the fund’s advisor, Callan LLC (“Callan”), allocates the fund’s assets among a number of experienced sub-advisors with differing investment philosophies and strategies. Callan selects sub-advisors and allocates fund assets among them to maintain the fund’s target allocation to each strategy. Sub-advisors generally are selected and retained based on the following factors: Callan’s view regarding their expected contribution to excess return; their performance in managing the fund’s assets pursuant to their respective sub-strategies; Callan’s confidence in their investment process, personnel, investment resources, and organizational stability; Callan’s belief in their ability to take on additional assets without undermining future fund performance; and Callan’s confidence in the robustness of their operational, back-office, trading, and compliance platforms. Each sub-advisor invests the portion of the fund’s assets allocated to it under the general supervision of Callan.

Under normal circumstances, the fund will invest at least 80% of its net assets in equity securities. Equity securities consist of common stocks, depository receipts, and derivatives with economic characteristics similar to equity securities. The fund currently intends to invest primarily in the equity markets listed in the MSCI All Country World Index ex-US Investable Market Index, and currently intends to invest more than 25% of the fund’s net assets in each of Europe (including the United Kingdom) and Asia (including Japan). The fund may invest in companies of any size. Callan considers “long-term capital appreciation” to be capital appreciation over a period of greater than five years. The fund principally invests in securities issued by foreign issuers.


Fund Advisor

Callan

Fund Administrator

SEI Investments Global Fund Services

Asset Class

International Equity

Ticker

KPIEX

Gross Expense Ratio

0.47%

Net Expense Ratio

0.47%


Fund Characteristics

as of June 30, 2020

Current Allocation
Sub-AdvisorStrategyPercentage
Acadian Asset Management LLCEmerging Markets Equity8%
Acadian Asset Management LLCNon-U.S. Small Cap5%
Lazard Asset ManagementNon-U.S. Small Cap 5%
Marathon-LondonNon-U.S. Equity18%
MFS Investment ManagementNon-U.S. Equity18%
Sprucegrove Investment Management Ltd.Non-U.S. Equity17%
SSGA Funds ManagementNon-U.S. Equity22%
William Blair Investment Management, LLCEmerging Markets Equity8%
Strategy
Emerging Markets Equity
Percentage
8%
Strategy
Non-U.S. Small Cap
Percentage
5%
Strategy
Non-U.S. Small Cap
Percentage
5%
Strategy
Non-U.S. Equity
Percentage
18%
Strategy
Non-U.S. Equity
Percentage
18%
Strategy
Non-U.S. Equity
Percentage
17%
Strategy
Non-U.S. Equity
Percentage
22%
Strategy
Emerging Markets Equity
Percentage
8%
Fund Characteristics

(Not Currently Available)

Sector Allocation

(Not Currently Available)

Top 10 Holdings

(Not Currently Available)

Performance1

as of June 30, 2020

Average Annual Total Return
NameLast QuarterLast
Year
Last 3
Years
Last 5
Years
Since
Inception2
KP International Equity Fund16.65%-5.98%1.18%2.55%2.21%
International Equity Benchmark16.96%-4.74%0.96%2.17%
Morningstar Foreign Blend16.26%-4.64%0.70%1.88%
Last Quarter
16.65%
Last Year
-5.98%
Last 3 Years
1.18%
Last 5 Years
2.55%
Since Inception
2.21%
Last Quarter
16.96%
Last Year
-4.74%
Last 3 Years
0.96%
Last 5 Years
2.17%
Since Inception
Last Quarter
16.26%
Last Year
-4.64%
Last 3 Years
0.70%
Last 5 Years
1.88%
Since Inception

1 The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth less than their original cost and current performance may be lower than the performance quoted. Returns greater than one year are average annual total returns. For performance data current to the most recent month end, please call 855-4-KPFNDS.

2 The inception date for the KP International Equity Fund is January 10, 2014.

SEC Yield: 30-Day SEC Yield is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among funds. It is based on the most recent month end. This figure reflects the interest earned during the period after deducting the Fund’s expenses for the period.

Dividend Yield: The total amount of dividends paid out for a stock over the preceding twelve months divided by the closing price of a share of the common stock. This value is expressed in percent.

Forecast Growth In Earnings: This growth rate is a measure of a company's expected long-term success in generating future year-over-year earnings growth. This growth rate is a market value weighted average of the consensus (mean) analysts' long-term earnings growth rate forecast for each company in the portfolio. The definition of long-term varies by analyst but is limited to a 3-8 year range. This value is expressed as the expected average annual growth of earnings in percent.

Price/Book Value: The Price to Book Value (P/B) is a measure of value for a company. It is equal to the market value of all the shares of common stock divided by the book value of the company. The book value is the sum of capital surplus, common stock, and retained earnings.

Price/Earnings Ratio: The Price to Earnings Ratio (P/E) is a measure of value for a company. It is equal to the price of a share of common stock divided by the earnings per share for a twelve-month period.

Median Market Capitalization: The weighted median market capitalization is the point at which half of the market value of the portfolio is invested in stocks with a greater market capitalization, and consequently the other half is invested in stocks with a lower market capitalization. This value is expressed in dollars and is scaled in billions.

International Equity Benchmark: The International Equity Benchmark is comprised of the MSCI ACWI ex-US Index through 3/31/17 and the MSCI ACWI ex-US Investable Market Index (IMI) thereafter. The MSCI ACWI ex-US IMI captures large, mid and small cap representation across 46 developed market and emerging market countries. It is designed to be a broad measure of the performance of world equity markets excluding the U.S.

Morningstar Foreign Large Blend Funds Median: Represents the median return for the Morningstar Foreign Large Blend Funds group, which is comprised of funds that invest in a variety of big international stocks. Most of these portfolios divide their assets among a dozen or more developed markets, including Japan, Britain, France, and Germany. These portfolios primarily invest in stocks that have market caps in the top 70% of each economically integrated market (such as Europe or Asia ex-Japan). The blend style is assigned to portfolios where neither growth nor value characteristics predominate. These portfolios typically will have less than 20% of assets invested in U.S. stocks.

The KP Core Funds serve as core building blocks for the KP Retirement Path Funds. Only the KP Small Cap Equity Fund is available for direct investment. Other information may be found in the fund's summary and full prospectuses, which may be obtained by calling (855)4-KPFNDS or on this website. Please read the prospectus carefully.

The KP Core Funds are mutual funds. They are part of The KP Funds Series Trust, an open-end management investment company that offers shares of diversified portfolios. The funds are advised by Callan LLC, a registered investment advisor. They are administered by SEI Investments Global Funds Services and distributed by SEI Investments Distribution Co., which are not affiliated with Callan.

There can be no assurance that a Fund will achieve its stated objectives. Diversification is not guaranteed to protect against market loss.

Investing involves risk including loss of principal. International investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. These risks are heightened when investing in emerging markets or in a single state.

Currency risk is the risk that foreign currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency hedged. In either event, the dollar value of an investment in the Underlying Fund would be adversely affected.

Fund Risks

The KP Core Funds serve as core building blocks for the KP Retirement Path Funds. Only the KP Small Cap Equity Fund is available for direct investment. Other information may be found in the fund’s summary and full prospectuses, which may be obtained by calling (855)4-KPFNDS or on this website. Please read the prospectus carefully.

The KP Core Funds are mutual funds. They are part of The KP Funds Series Trust, an open-end management investment company that offers shares of diversified portfolios. The funds are advised by Callan LLC, a registered investment advisor. They are administered by SEI Investments Global Funds Services and distributed by SEI Investments Distribution Co., which are not affiliated with Callan.

There can be no assurance that a Fund will achieve its stated objectives. Diversification is not guaranteed to protect against market loss.

Investing involves risk, including loss of principal.

The prices of common stocks may fall over short or extended periods of time. In particular, growth stocks may be susceptible to rapid price swings, especially during periods of economic uncertainty;

International investments involve risk of capital loss from differences in generally accepted accounting principles or from social, economic, or political instability in other nations. These risks are heightened when investing in emerging markets or in a single country;

International investments are also subject to the risk that foreign currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency hedged. In either event, the dollar value of an investment in the underlying fund would be adversely affected;

Convertible bonds have many of the same risks as stocks and may be more sensitive to changes in interest rates than stocks;

The use of leverage by underlying fund managers may accelerate the velocity of potential losses;

The use of derivatives are often more volatile than other investments and magnify the fund’s gains or losses.

SEI Investments Distribution Co. (1 Freedom Valley Drive, Oaks, PA, 19456) is the distributor for the KP Funds. Check the background of SIDCO on FINRA’s BrokerCheck.