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Calvert Emerging Markets Equity Fund (CVMAX)

Daily Performance (as of 11/26/2014)
Price $13.57
Price Change $0.05 (0.37%)
YTD Return (4.75% Sales Charge) -1.24%
YTD Return (No Charge) 3.67%
Fund Facts (as of 11/26/2014)
NASDAQ Symbol CVMAX (A Shares)
Calvert Fund Number 1068 (A Shares)
CUSIP Number 131649816 (A Shares)
Assets Under Management $61.13 Million

Overview

Fund Management

Top 10 Holdings

Top 10 Equity Holdings

The top 10 companies in which the portfolio invests, measured by a percentage of total investments.

Issues in Portfolio: 46
Click here for all Fund Holdings

Investment Objective

The Fund seeks long-term capital appreciation by investing primarily in equity securities of companies located in emerging market countries, in accordance with the Fund's sustainability and corporate responsibility criteria.

Investment Strategy

The Fund normally invests at least 80% of its assets in equity securities of companies located in emerging market countries. The Sub-advisor considers emerging market countries to be those included in the Fund's benchmark index, the MSCI Emerging Markets Index; countries determined by the World Bank to have a low to middle income economy; and other countries or markets with similar emerging market characteristics as determined by the Sub-advisor. A company is considered to be located in an emerging market if it has a class of securities whose principal securities market is in an emerging country; is organized under the laws of, or has a principal office in, an emerging country; derives 50% or more of its total revenues or earnings from goods produced, sales made, or services provided in one or more emerging countries; or maintains 50% or more of its assets in one or more emerging countries. The Sub-advisor seeks to identify companies located in emerging market countries that are trading at a discount to what the Sub-advisor believes to be their intrinsic value but have the potential to increase their book value. To this end, the Sub-advisor combines a top-down approach to country analysis with a bottom-up approach to fundamental company research. The Fund seeks to invest in emerging market companies whose products/services or industrial/business practices contribute towards addressing one or more global sustainability challenges in their local and/or international markets, including development, poverty and health; environment and climate change; and rights and governance.

Investment Risk

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund, or the Fund could underperform, because of the following risks: the market prices of stocks held by the Fund may fall; individual investments of the Fund may not perform as expected, and/or the Fund's portfolio management practices may not achieve the desired result. Investing in foreign securities involves additional risks relating to political, social, and economic developments abroad; differences between the regulations that apply to U.S. and foreign issuers and markets; the potential for foreign markets to be less liquid and more volatile than U.S. markets; and currency risk associated with securities that trade or are denominated in currencies other than the U.S. dollar. In addition, the risks of investing in emerging market securities are greater than those of investing in securities of developed foreign countries. The Fund is non-diversified and may be more volatile than a diversified fund.


Important Disclosure

Holdings are subject to change.

Industry classifications provided by MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI.


Performance

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Benchmark Index

Checking this box will compare fund performance to that of its benchmark index.

Lipper Category Index

Checking this box will compare fund performance to that of its Lipper Category Index.

Average Annual Total Returns (%) for period ending 10/31/2014
Share Class YTD QTD 1 yr 3 yrs 5 yrs 10 yrs Since Inception Inception
A Shares (No Charge) 3.13 2.66 2.21 n/a n/a n/a 9.57 10/29/2012
Average Annual Total Returns (%) for period ending 9/30/2014
Share Class YTD QTD 1 yr 3 yrs 5 yrs 10 yrs Since Inception Inception
A Shares (No Charge) 0.46 -3.94 4.19 n/a n/a n/a 8.52 10/29/2012
Portfolio Expenses and Turnover (from Prospectus)
(Performance data quoted above already reflects deduction for portfolio operating expenses)
Expense Ratio
(if no waiver reimbursement in effect)
Net Expense Ratio
(if waiver reimbursement in effect)
Gross Expense Ratio
(if waiver reimbursement in effect)
Fund Turnover
n/a 1.78% 3.03% 74.00%

Hypothetical Growth of $10,000

Yearly Percentage Return


Important Disclosure

Net expense ratio reflects contractual fee waiver and/or expense reimbursement through January 31, 2015.


Pricing & Distribution

Most Recent Distributions

A Shares: Without Sales Charge
Date Type Rate Record Date Ex Date Reinvest Date Reinvest Price
12/27/2013 Dividend 0.03790 12/24/2013 12/26/2013 12/26/2013 12.88
12/6/2013 Long Term Gain 0.02350 12/4/2013 12/5/2013 12/5/2013 12.88
12/6/2013 Short Term Gain 0.66973 12/4/2013 12/5/2013 12/5/2013 12.88
12/28/2012 Dividend 0.12540 12/26/2012 12/27/2012 12/27/2012 12.27

Holdings

Top 10 Holdings

Top 10 Equity Holdings

The top 10 companies in which the portfolio invests, measured by a percentage of total investments.

Issues in Portfolio: 46
Click here for all Fund Holdings

Top 10 Countries (% of total investment)

Top 10 Countries (% of total investment)

The portfolio invests in companies based in these countries. The number next to each country name indicates the percentage of the portfolio that investments in that country comprise.


Important Disclosure

Calvert has agreed contractually to limit direct net annual operating expenses for Calvert Emerging Markets Equity Fund through January 31, 2015. This limitation does not limit the acquired fund fees and expenses incurred by a shareholder. Direct net operating expenses will not exceed 1.78% for Class A shares, 2.78% for Class C shares and 1.53% for Class Y shares of the Fund. Only the Board of Directors of the Fund may terminate the Fund's expense limitation before the contractual period expires, upon 60 days' prior notice to shareholders. Under the terms of the contractual expense limitation, operating expenses do not include interest expense, brokerage commissions, extraordinary expenses and taxes.

Holdings are subject to change.

Industry classifications provided by MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI.


Management & Commentary

Fund Management

Calvert Investment Management, Inc.

As investment advisor to the Calvert family of funds, Calvert Investment Management, Inc. oversees assets covering a broad range of equity, fixed-income, balanced, and asset allocation funds.

Hermes Investment Management Limited

Based in London, Hermes Investment Management Limited seeks to add value through an investment process that integrates top-down and bottom-up analysis, looking for quality companies trading at attractive valuations, in countries with conditions that are supportive of growth.

Gary Greenberg,
Lead Portfolio Manager

Elena Tedesco,
Co Portfolio Manager

Fees & Minimums

Annual Operating Expenses (deducted from Fund assets)

Description Expense
Management fees 1.300%
Distribution and service (12b-1) fees 0.250%
Other expenses 1.480%
Total annual Fund operating expenses 3.030%

Less fee waiver and/or expense reimbursement 1.250%
Net expenses 1.780%

Shareholder Fees (fees paid directly from your account)

Description Fee
Maximum sales charge (load) imposed on purchases
(as a percentage of offering price)
4.75%
Maximum deferred sales charge (load)
(as a percentage of purchase or redemption
proceeds, whichever is lower)
none
Redemption Fee
(unless otherwise noted in the prospectus the redemption fee applies to redemptions, including exchanges within 30 days of purchase (seven days for Class I and R shares)
2.00%

Fund Expense Ratios

Description Expense
Expense Ratio
(if no waiver/reimbursement
in effect)
n/a
Net Expense Ratio
(if waiver/reimbursement
in effect)
1.78%
Gross Expense Ratio
(if waiver/reimbursement
in effect)
3.03%

Investment Minimums

Description Minimum
Minimum Initial Investment (ClassA) $2,000
Minimum Initial Investment for IRA (ClassA) $1,000
Minimum Subsequent Investment (ClassA) $250

Important Disclosure

Calvert has agreed contractually to limit direct net annual operating expenses for Calvert Emerging Markets Equity Fund through January 31, 2015. This limitation does not limit the acquired fund fees and expenses incurred by a shareholder. Direct net operating expenses will not exceed 1.78% for Class A shares, 2.78% for Class C shares and 1.53% for Class Y shares of the Fund. Only the Board of Directors of the Fund may terminate the Fund's expense limitation before the contractual period expires, upon 60 days' prior notice to shareholders. Under the terms of the contractual expense limitation, operating expenses do not include interest expense, brokerage commissions, extraordinary expenses and taxes.

Management fees include the advisory fee paid by the Fund to the Advisor, and the administrative fee paid by the Fund to Calvert Investment Administrative Services, Inc., an affiliate of the Advisor.


Morningstar Style Box™

Morningstar Style

A style box is a graphical representation of a mutual fund's characteristics. Together, the vertical and horizontal axes can be used to classify a mutual fund into one of nine categories.

Large Growth

CVMAX is categorized as: Large Growth

Morningstar Category™

Diversified Emerging Mkts

Risk/Return Assessment

Risk/Return Assessment

Demonstrates where the Fund falls on a risk/return spectrum, relative to other Calvert Funds. Funds with more conservative objectives and strategies would fall on the left side of the spectrum, while funds with more aggressive objectives and strategies would appear on the right.

Compared against all Calvert Funds

Calvert mutual funds are underwritten and distributed by Calvert Investment Distributors, Inc., member, FINRA, and subsidiary of Calvert Investments, Inc. 800.368.2748

Calvert Investment Management, Inc. serves as the investment advisor and provides sustainability research for the Calvert mutual funds and institutional investment strategies.

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