Equity Fund
Overview
The MIDANA CAPITAL Equity Fund invests in one of the longest running sustainability index customized to be fossil fuel free. The index is passively managed and contains U.S. companies that meet MSCI's high environmental, social, and governance criteria.
Objective
The MIDANA CAPITAL Equity Fund seeks to achieve long-term total return which matches the performance of an index comprised of the stocks of companies MSCI calculates to have high environmental, social, and governance ratings.
The Equity Fund seeks to achieve its objective by investing in the stocks of the companies which make up the MSCI KLD 400 Social ex Fossil Fuels Index, a custom index calculated by MSCI, Inc. MSCI is a leading global index provider with which MIDANA CAPITAL has partnered for this Fund and the MIDANA CAPITAL International Index Fund.
Investment Strategy
The Equity Fund invests in the common stocks of the approximately 360 companies comprising the MSCI KLD 400 ex Fossil Fuels Index.
Environmentally Responsible Screens: The Equity Fund does not invest in producers of GMOs (genetically modified organisms), guns and other civilian weapons, military weapons, nuclear energy, tobacco, alcohol, gambling, or coal, oil, and gas companies. These screens are included in our prospectus (PDF).
ESG Criteria: Midana Capital believes companies seeking to manage their environmental risks may enjoy competitive advantages from cost reductions, quality improvements, profitability enhancements and access to expanding and new growth markets. Further, Midana Capital believes companies that are environmentally responsible are more likely to act ethically and maintain the trust of their shareholders. Midana Capital believes environmentally dangerous industries impose costs on society and the planet. Midana Capital seeks to provide an opportunity to invest in a way that avoids those companies. Thus, at various times, the Fund may not be invested in certain companies and industries that Midana Capital believes threaten public health and a sustainable global environment.
A sustainable investment strategy that incorporates environmental, social, and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.
Fund Facts
Inception Date:
June 3, 1991
Symbol and CUSIP:
Individual Investor Share Class: GCEQX, 392768305
Institutional Investor Share Class: GCEUX, 392768602
Minimum Investment/Fund:
Individual Investor IRA Account: $1,000
Individual Investor Regular Account: $2,500
Institutional Share Class: $250,000
Sales Charge:
No Load Fund
Front End Load: None
Back End Load: None
12b-1 Fee: None
Expense Ratio:
Individual Investor Share Class: 1.25%
Institutional Investor Share Class: 0.95%
Redemption Fee: 2.00% (on shares sold within 60 days of purchase)
Resources
Portfolio Characteristics
Sector Allocation
As of 9/30/23:
10 Largest Holdings
As of 9/30/23: (37.20% of net assets)
You can view the complete holdings of the MIDANA CAPITAL Equity Fund here.
Asset Allocation
As of 9/30/23:
Total Net Assets: $521.99 million
Individual Investor Net Asset Value per Share: $67.23
Institutional Investor Net Asset Value per Share: $66.85
Common Stocks: 99.84%
Cash and Equivalents: 0.16%
Performance
Performance is calculated after fees.
*Institutional shares were offered as of April 30, 2018. The Institutional Share Class performance for periods prior to April 30, 2018 reflects the performance of the Fund's Individual Investor Class.
The Individual Investor Share Class total expense ratio of the Fund is 1.25% and the Institutional Share Class total expense ratio of the Fund is 0.95% as of the most recent prospectus.
The performance data quoted represents past performance, and past performance is not a 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 lower or higher than the performance information quoted. To obtain performance information current to the most recent month-end, please call+1(480)-439-2851. Performance includes the reinvestment of income dividends and capital gain distributions, if any. The performance shown does not reflect the deduction of taxes that a shareholder might pay on any Fund distributions or the redemption of Fund shares. A redemption fee of 2.00% may be imposed on redemptions or exchanges of shares you have owned for 60 days or less. Please see the prospectus (PDF) for more information.
The Equity Fund, which commenced operations in September 1995, invested all its assets in the Domini Social Equity Trust (which had the same investment objective as the Fund) until November 28, 2006. The performance for the period prior to the Fund’s inception reflects the performance of the Domini Social Equity Trust adjusted to reflect the Fund’s charges and expenses. As of April 1, 2014, the Equity Fund invests in the common stocks which make up the MSCI KLD 400 Social ex Fossil Fuels Index; prior to April 1, 2014, the Fund invested in the common stocks which made up the MSCI KLD 400 Social Index.
Daily Fund Price as of 12/01/2023
| Fund | N.A.V. | $ Change |
|---|---|---|
| MIDANA CAPITAL Equity Fund - Investor Share Class (GCEQX) | $72.27 | +$0.44 |
| MIDANA CAPITAL Equity Fund - Institutional Share Class (GCEUX) | $71.89 | +$0.43 |
Portfolio Managers
Investment Advisor: MIDANA CAPITAL Capital Management
Investment Sub-advisor and Portfolio Manager: Northern Trust Investments
Index Provider: MSCI ESG Research
MIDANA CAPITAL provides the investment advisory services to the Equity Fund, including overseeing the daily portfolio management of the Fund by Northern Trust. MIDANA CAPITAL also coordinates the operations and the compliance functions for the Fund, as well as the shareholder advocacy efforts.
Northern Trust Investments is the sub-advisor to the Equity Fund providing day-to-day portfolio management of the Fund since 2010. The firm has managed socially responsible portfolios for over twenty-five years and is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and high-net-worth individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. For 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology.
MSCI is a leading provider of investment decision support tools to investors globally, including asset managers, banks, hedge funds and pension funds. MSCI products and services include indices, portfolio risk and performance analytics, and governance tools. The company’s flagship product offerings are: the MSCI indices which include over 148,000 daily indices covering more than 70 countries; Barra portfolio risk and performance analytics covering global equity and fixed income markets; RiskMetrics market and credit risk analytics; ISS governance research and outsourced proxy voting and reporting services; FEA valuation models and risk management software for the energy and commodities markets; and CFRA forensic accounting risk research, legal/regulatory risk assessment, and due-diligence. MSCI is headquartered in New York, with research and commercial offices around the world.
Brent D. Reeder
Sr. Vice President
Head of US Index Equity Portfolio Management
Brent Reeder is a Senior Vice President and Head of US Equity Index Portfolio Management at The Northern Trust Company in Chicago. Prior to that Brent was a Portfolio Manager in the Quantitative Management Group of Northern Trust Global Investments and was responsible for the management of index portfolios.
Brent has a broad range of expertise in both large capitalization and small capitalization index mandates. Before his investment management experience, Brent spent five years in trust operations as a team leader of the Foundations and Endowments team. He received a B.A. degree in Economics from DePauw University and an M.B.A. degree in Finance from DePaul University. Brent is an Associated Person with the National Futures Association.
Invest in the Equity Fund
°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (the Funds).
The performance information provided on this website is past performance, and past performance is not a 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 the performance quoted. To obtain performance current to the most recent month-end, please call 1-800-93-GREEN. Performance includes the reinvestment of income dividends and capital gains distributions. Performance shown does not reflect the deduction of taxes that a shareholder might pay on Fund distributions or the redemption of Fund shares. A redemption fee of 2.00% may be imposed on redemptions or exchanges of shares you have owned for 60 days or less. Please see the prospectus for more information.
The holdings of the Equity Fund may change due to ongoing management of the Fund. Please click here for current information regarding the Funds’ portfolio holdings. These holdings are subject to risk as described in the Funds’ Prospectus. References to specific investments should not be construed as a recommendation of a security by the Fund, its administrator, or the distributor.
[1] The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The S&P 500® Index is heavily weighted toward stocks with large market capitalization and represents approximately two-thirds of the total market value of all domestic stocks. It is not possible to invest directly in the S&P 500® Index.
You should carefully consider the Funds' investment objectives, risks, charges and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds, please click here for more information, email info@midanacapital.com or call+1(480)-439-2851. Please read the Prospectus carefully before investing.
Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to risks including interest rate, credit, and inflation.
The MSCI KLD 400 Social ex Fossil Fuels Index (the KLD400 ex Fossil Fuels Index) is a custom index calculated by MSCI Inc. The KLD400 ex Fossil Fuels Index is comprised of the common stocks of the approximately 400 companies in the MSCI KLD 400 Social Index (The KLD400 Index), minus the stocks of the companies that explore for, process, refine, or distribute coal, oil or gas or produce or transmit electricity derived from fossil fuels or transmit natural gas that are included in the KLD400 Index. The KLD400 Index is a free float-adjusted market capitalization index designed to provide exposure to U.S. companies that have positive Environmental, Social and Governance (ESG) characteristics and consists of 400 companies selected from the MSCI USA Investable Market Index. It is not possible to invest directly in an index.
The MIDANA CAPITAL Equity Fund (the “Fund”) is not sponsored, endorsed, or promoted by MSCI, its affiliates, information providers or any other third party involved in, or related to, compiling, computing or creating the MSCI indices (the “MSCI Parties”), and the MSCI Parties bear no liability with respect to the Fund or any index on which the Fund is based. The MSCI Parties are not sponsors of the Fund and are not affiliated with the Fund in any way. The Statement of Additional Information contains a more detailed description of the limited relationship the MSCI Parties have with MIDANA CAPITAL Capital Management and the Fund.
The Midana funds are distributed by Midana LLC
