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International Equity Fund Total Returns (%) as of 08/31/10Risks
- - - - - Cumulative - - - - -
- - - - - Annualized - - - - -
Class
1 month
3 month
YTD
1 year
3 year
5 year
10 year
SI
Inception Date
A With load
-8.96
-0.72
-13.59
-11.24
-12.58
0.01
-0.29
4.90
11/30/92
A Without load
-3.65
5.08
-8.55
-6.09
-10.92
1.15
0.28
5.23
11/30/92
B^
With load
-8.50
-0.10
-13.52
-11.27
-12.31
0.07
-0.30
3.70
03/09/94
B^
Without load
-3.68
4.90
-8.97
-6.79
-11.57
0.39
-0.30
3.70
03/09/94
C With load
-4.60
3.93
-9.85
-7.68
-11.57
0.40
-0.45
3.33
09/29/95
C Without load
-3.64
4.93
-8.94
-6.78
-11.57
0.40
-0.45
3.33
09/29/95
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor's shares, when redeemed may be worth more or less than the original cost.
The recent growth rate in the stock market has helped produce short-term returns for some asset classes that are not typical and may not continue in the future. Because of ongoing market volatility, Fund performance may be subject to substantial short-term changes.
As identified in the current Fund prospectus, the Class A, B and C shares gross expense ratios for the fiscal year ended June 30, 2009 were 1.47%, 2.21% and 2.22%, respectively. The Fund publishes Semi-Annual and Annual Reports each February and August, which contain updated expense ratio information.
In periods of market volatility, Fund assets may decline significantly, causing a Fund’s gross expense ratio to become higher than the gross expense ratio shown in the current prospectus. The Advisor limited certain expenses of the Fund’s Class A, B and C Shares during the 1992-1996 calendar years. The Advisor also made a voluntary capital contribution to the Fund during the 2005 calendar year. Total returns and yields would have been lower if the Advisor had not limited expenses or made a capital contribution during those periods.
Class A Shares have a maximum sales charge of 5.5% on Equity Funds (excluding the Index 500 Fund), 2.5% on the Index 500 Fund, 4% on the Bond Fund, and 2% on the Tax-Free Short & Intermediate Bond Fund.
Class B Shares of all Funds except the Index 500 Fund have a Contingent Deferred Sales Charge (CDSC) on redemptions made within six years of purchase as follows: Year 1 = 5.0%, Year 2 = 4.0%, Year 3 = 3.0%, Year 4 = 3.0%, Year 5 = 2.0%, Year 6 = 1.0%. Class B Shares of the Index 500 Fund have a CDSC on redemptions made within six years of purchase as follows: Year 1 = 3.0%, Year 2 = 2.50%, Year 3 = 2.0%, Year 4 = 1.5%, Year 5 = 1.0%, Year 6 = 0.5%.
Class C Shares of all Funds have a 1.0% Contingent Deferred Sales Charge (CDSC) on redemptions made within one year of purchase.
Different sales charges affect performance and yields.
International Equity Fund Total Returns (%) as of 06/30/10Risks
- - - - - Cumulative - - - - -
- - - - - Annualized - - - - -
Class
1 month
3 month
YTD
1 year
3 year
5 year
10 year
SI
Inception Date
A With load
-10.47
-20.87
-20.49
-3.91
-15.84
-0.28
-1.37
4.45
11/30/92
A Without load
-3.31
-16.29
-15.86
1.66
-14.24
0.85
-0.81
4.79
11/30/92
B^
With load
-10.05
-20.60
-20.36
-4.02
-15.59
-0.21
-1.39
3.21
03/09/94
B^
Without load
-3.39
-16.42
-16.16
0.83
-14.88
0.11
-1.39
3.21
03/09/94
C With load
-6.23
-17.27
-16.96
-0.06
-14.87
0.11
-1.54
2.79
09/29/95
C Without load
-3.35
-16.44
-16.12
0.92
-14.87
0.11
-1.54
2.79
09/29/95
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor's shares, when redeemed may be worth more or less than the original cost.
The recent growth rate in the stock market has helped produce short-term returns for some asset classes that are not typical and may not continue in the future. Because of ongoing market volatility, Fund performance may be subject to substantial short-term changes.
As identified in the current Fund prospectus, the Class A, B and C shares gross expense ratios for the fiscal year ended June 30, 2009 were 1.47%, 2.21% and 2.22%, respectively. The Fund publishes Semi-Annual and Annual Reports each February and August, which contain updated expense ratio information.
In periods of market volatility, Fund assets may decline significantly, causing a Fund’s gross expense ratio to become higher than the gross expense ratio shown in the current prospectus. The Advisor limited certain expenses of the Fund’s Class A, B and C Shares during the 1992-1996 calendar years. The Advisor also made a voluntary capital contribution to the Fund during the 2005 calendar year. Total returns and yields would have been lower if the Advisor had not limited expenses or made a capital contribution during those periods.
Class A Shares have a maximum sales charge of 5.5% on Equity Funds (excluding the Index 500 Fund), 2.5% on the Index 500 Fund, 4% on the Bond Fund, and 2% on the Tax-Free Short & Intermediate Bond Fund.
Class B Shares of all Funds except the Index 500 Fund have a Contingent Deferred Sales Charge (CDSC) on redemptions made within six years of purchase as follows: Year 1 = 5.0%, Year 2 = 4.0%, Year 3 = 3.0%, Year 4 = 3.0%, Year 5 = 2.0%, Year 6 = 1.0%. Class B Shares of the Index 500 Fund have a CDSC on redemptions made within six years of purchase as follows: Year 1 = 3.0%, Year 2 = 2.50%, Year 3 = 2.0%, Year 4 = 1.5%, Year 5 = 1.0%, Year 6 = 0.5%.
Class C Shares of all Funds have a 1.0% Contingent Deferred Sales Charge (CDSC) on redemptions made within one year of purchase.
Different sales charges affect performance and yields.
An investor should consider the Fund's investment objectives, risks, and charges and expenses carefully before sending money. The prospectus and summary prospectus contain this and other important information about the investment company. To obtain a prospectus and summary prospectus, please click here. Please read the prospectus and summary prospectuses carefully before investing.
RISKS Investors should note that investments in foreign securities involve additional risks due to currency fluctuations, economic and political conditions, and differences in financial reporting standards. The Fund may concentrate its investments in one or more countries. When the Fund’s investments are concentrated in a country or countries, market, economic, political, regulatory and other factors affecting those countries could have a significant effect on the Fund’s value.
The portfolio holdingswill change and the information provided should not be considered as a recommendation to purchase or sell a particular security. There is no assurance that the securities mentioned remain in the Fund's portfolio or that securities sold have not been repurchased.
Country classifications are based on the country in which the issuer is headquartered and do not include exposure through holdings of foreign currencies, which are included in "Cash & Equivalents". Fund/ETF holdings are classified based on the country exposure represented by the Fund/ETF, and may be classified as "Multi-Country." The percentages shown represent the breakdown of investments and are not based on net assets.
A short term trading fee of 2% may be assessed on redemptions of fund shares within 30 days of purchase. The impact of this fee is reflected in the YTD (load) returns in January and the one-month (load) return in each month with 30 days or fewer.
*Total net asset figures do not reflect adjustments, if any, made for financial reporting purposes. Percentages shown for Asset Allocation, Top Ten Holdings and Country Diversification represent the breakdown of investments and are not based on net assets. Portfolio holdings will change and should not be considered purchase recommendations. Top holdings do not reflect cash, money market instruments or options/futures contracts holdings.
Fund shares are not guaranteed or insured by any bank, the FDIC or any government agency, and may lose value.
The percentages shown are rounded to the nearest tenth of one percent.
N/A - Fund class was not in operation for that time period.
^Open to limited investors only.
Munder Funds distributed by Funds Distributor, LLC.
The Munder International Equity Fund trailed its MSCI EAFE (Europe, Australasia, Far East) Net Dividends benchmark for the quarter
ended June 30, 2010. The Fund's "value with a catalyst" approach, which focuses on companies that show signs of improvement in
business performance and business sentiment, had a positive impact on relative performance for the quarter. This was more than
offset, however, by weakness in some of the Fund's holdings.
In terms of specific sectors and country holdings, the Fund benefited from the relative strength of its information technology and
health care sectors as well sectors, as its Finland and Switzerland holdings. Among the Fund's individual holdings, Computacenter PLC,
which was sold from the Fund in April, was the top contributor to relative performance. The company provides distributed information
technology and related services to corporate and public sector organizations, and is headquartered in the United Kingdom. While the
company had strong performance, other stocks appeared more attractive, primarily on a valuation basis. In absolute terms, the
performance of the Fund was helped by the weakening of the U.S. dollar.
In contrast to these positive factors, holdings in the financials sector and the United Kingdom had a negative impact on the Fund's
relative performance for the quarter. BP PLC. (2.1% of the Fund) was one of the biggest detractors during the quarter. The company is
an oil and petrochemical company.
It is important to note that more than half of the world's equity investment opportunities lie outside the United States. We believe
our disciplined investment approach provides investors with exposure to many of these opportunities. When added to a portfolio of
U.S. securities, the Munder International Equity Fund has the potential to increase diversification, while improving return and
reducing risk.
Past performance does not guarantee future results. The Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the Fund. To obtain a prospectus and summary prospectus, click here. Read the prospectus and summary prospectuses carefully before investing.
RISKS: Investors should note that investments in foreign securities involve additional risks due to currency fluctuations, economic and political conditions, and differences in financial reporting standards. The Fund may concentrate its investments in one or more countries. When the Fund’s investments are concentrated in a country or countries, market, economic, political, regulatory and other factors affecting those countries could have a significant effect on the Fund’s value.
Fund holdings mentioned in the Quarterly Commentary are as of 5.31.10 and the percentages shown are based on net assets as of that date. Fund holdings are subject to change and should not be considered purchase recommendations. There is no assurance that the securities mentioned remain in the Fund’s portfolio or that securities sold have not been repurchased.
The MSCI EAFE (Europe, Australasia, Far East) Index is a free float-adjusted market capitalization index that is designed to measure developed equity market performance, excluding the U.S. and Canada. Returns provided for the MSCI EAFE Index are net dividends (i.e., net of foreign withholding taxes applicable to U.S. investors). You cannot invest directly in an index, securities in the Fund will not match those in the index, and performance of the Fund will differ. Although reinvestment of dividend and interest payments is assumed, no expenses are netted against an index’s returns.
Munder Funds are distributed by Funds Distributor, LLC 07/10
Investment Team
Peter J. Collins
Senior Equity Analyst
BBA from the University of Massachusetts at Amherst
MS in Finance from Boston College
Joined Munder Capital Management in 2007
Years of Experience:10
Focus:Member of the team managing Munder Capital’s International Core and International Small-Cap Equity strategies, and analyst for the utilities sector for the international team. He is also a co-manager of the Munder International Equity Fund and the Munder Energy Fund.
Brian E. Kozeliski, CFA CAIA FRM
Portfolio Manager
BA in Mathematics and Spanish from Willamette University
MBA with distinction in Finance from Thunderbird - The Garvin School of International Management
Joined Munder Capital Management in 1999
Years of Experience:12
Focus:Member of the team responsible for managing the Munder International Equity Fund and the Munder Asset Allocation Fund - Balanced and is the co-manager of the Munder Energy Fund. Also provides quantitative research, including attribution analysis, for all of Munder Capital’s equity investment strategies as a member of the firm’s quantitative support group.
Munder Funds distributed by Funds Distributor, LLC.
International Equity Portfolio Data as of 07/31/2010
An investor should consider the Fund's investment objectives, risks, and charges and expenses carefully before sending money. The prospectus and summary prospectus contain this and other important information about the investment company. To obtain a prospectus and summary prospectus, please click here. Please read the prospectus and summary prospectuses carefully before investing.
RISKS Investors should note that investments in foreign securities involve additional risks due to currency fluctuations, economic and political conditions, and differences in financial reporting standards. The Fund may concentrate its investments in one or more countries. When the Fund’s investments are concentrated in a country or countries, market, economic, political, regulatory and other factors affecting those countries could have a significant effect on the Fund’s value.
The portfolio holdingswill change and the information provided should not be considered as a recommendation to purchase or sell a particular security. There is no assurance that the securities mentioned remain in the Fund's portfolio or that securities sold have not been repurchased.
Country classifications are based on the country in which the issuer is headquartered and do not include exposure through holdings of foreign currencies, which are included in "Cash & Equivalents". Fund/ETF holdings are classified based on the country exposure represented by the Fund/ETF, and may be classified as "Multi-Country." The percentages shown represent the breakdown of investments and are not based on net assets.
A short term trading fee of 2% may be assessed on redemptions of fund shares within 30 days of purchase. The impact of this fee is reflected in the YTD (load) returns in January and the one-month (load) return in each month with 30 days or fewer.
*Total net asset figures do not reflect adjustments, if any, made for financial reporting purposes. Percentages shown for Asset Allocation, Top Ten Holdings and Country Diversification represent the breakdown of investments and are not based on net assets. Portfolio holdings will change and should not be considered purchase recommendations. Top holdings do not reflect cash, money market instruments or options/futures contracts holdings.
Fund shares are not guaranteed or insured by any bank, the FDIC or any government agency, and may lose value.
The percentages shown are rounded to the nearest tenth of one percent.
N/A - Fund class was not in operation for that time period.
^Open to limited investors only.
Munder Funds distributed by Funds Distributor, LLC.
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