Investment Philosophy / Process

  • The Global Talents strategy is built on the manager's belief that there is a natural alignment of interests between entrepreneur-owned businesses and long term investors goals.
  • The Fund's primary focus is to invest in talented entrepreneurs who have a strong track record of creating value and who retain a significant stake in their businesses.
  • The Fund seeks companies displaying entrepreneurial characteristics by taking a holistic view of a business, looking at the overall strength of its business model, corporate governance practices and quality of management or management's "track record" and the ability to execute on opportunities.

Fund Details

  Class A Class I Class R
Status Closed** Closed** Closed**
CUSIP 68259P 489 68259P 463 68259P 455
ISIN US68259P4899 US68259P4634 US68259P4550
Investment Minimum* $1,000 for all accounts
• $500 for certain fee-
based programs
• $500, if establishing
an Automatic Bank
Draft Plan
• $250 minimum for purchases
by accounts through eligible
financial intermediary platforms
that have entered into
selling or service agreements
with the Distributor and
that are eligible to purchase
Class A shares without
a sales charge
• No minimum for
certain employer-sponsored
retirement plans and
certain wrap fee based programs
$1,000,000 for certain
institutions and individuals
• $1,000 for certain
employees (or their
immediate family
members) of AXA
Financial or its
• Class I Shares are
available to clients of
registered investment
advisers who have
$250,000 invested in
the Fund
• No minimum investment
for a wrap account client
of an eligible broker-dealer
or a client of a fee-based
planner that is unaffiliated
with a broker-dealer
No minimum
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*Read the Prospectus for more information.

**Please see supplement dated April 24, 2020 for more information.

Fund Objective

Seeks to provide long term capital growth.

How the Fund invests

The Fund will primarily invest in a diversified portfolio of equity securities issued by U.S. and non-U.S. companies that AXA Investment Managers, Inc. (the "Sub-Adviser") has identified as being entrepreneur-led businesses whose long term growth prospects are not being fully reflected in current market valuations. The equity securities the Fund will invest in include common stock, preferred stock, depositary receipts, securities convertible into common and preferred stock and nonconvertible preferred stock. The Fund may invest in securities of non-U.S. issuers that can be U.S. dollar based or non-U.S. dollar based. The Fund may invest in securities of companies of any market capitalization.

The Talents' team investment mind-set can be characterized by three distinct attributes:

  • Fundamental stock selection through diligent analysis and intellectual curiosity
  • Portfolios constucted with strong awareness of risk but with real stock conviction and high active share
  • Research strength from the team's experience and the open architecture in which research is applied

Portfolio Construction Process


Portfolio Managers

AXA Investment Managers logo

Anne Tolmunen, CFA®

Portfolio Manager/Analyst of Global Talents Strategy at AXA IM – Framlington Equities

Anne Tolmunen is a Portfolio Manager/Analyst within the Global Talents team of AXA IM’s Framlington Equities. Anne joined Framlington Equities in September 2009 as an equity analyst focused on the European consumer sector. From February 2010 to July 2012, she served as equity analyst within the US equities team as well as providing support to the Global Sector portfolio managers. Previously, Anne worked as a Strategic Auditor within the Global Internal Audit team of AXA IM (Jan 2007- Aug 2008) and later as a Program Manager on an integration project at Framlington Equities (Sept 2008 – Aug 2009). She formerly worked for more than four years in the Global Inspection team of Société Générale Bank. Anne holds a Master’s degree from ESSEC, a French Business School. She is also a CFA® charter holder.

CFA is a registered trademark of the CFA Institute.

Investments in foreign securities, including depositary receipts, involve risks not associated with investing in U.S. securities. Foreign markets, particularly emerging markets, may be less liquid, more volatile and subject to less government supervision than domestic markets. Security values also may be negatively affected by changes in the exchange rates between the U.S. dollar and foreign currencies. Differences between U.S. and foreign legal, political and economic systems, regulatory regimes and market practices also may impact security values and it may take more time to clear and settle trades involving foreign securities.

Top 15 Holdings as of 03/31/2020 subject to change

Security Weight %
Apple, Inc.4.50%, Inc.4.40%
Roche Holding AG4.40%
Tencent Holdings Ltd.3.70%
Alibaba Group Holding Ltd. (ADR)3.60%
Unicharm Corp.3.40%
Alphabet, Inc., Class A3.30%
Facebook, Inc., Class A3.30%
Berkshire Hathaway, Inc., Class B3.20%
DexCom, Inc.3.20%
Ecolab, Inc.3.00%
Dassault Systemes SE2.90%
Fidelity National Information Services, Inc.2.90%
UnitedHealth Group, Inc.2.80%
SoftBank Group Corp.2.80%

Monthly Performance as of 04/30/2020

Total Returns
Fund1 month3 monthYTD1 yr3 yr5 yrSI1
Class A (NAV)11.98%-5.80%-6.16%-2.35%5.13% - 6.84%
Class A with sales charges (MOP)25.83%-10.97%-11.35%-7.73%3.17% - 5.36%
Class I (NAV)11.99%-5.69%-6.05%-2.07%5.43% - 7.12%
Class R (NAV)12.01%-5.78%-6.22%-2.53%4.89% - 6.59%
MSCI ACWI (Net) Index310.71%-11.97%-12.94%-4.96%4.46% - 7.58%
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Quarterly Performance as of 03/31/2020

Total Returns
Fund1 month3 monthYTD1 yr3 yr5 yrSI1
Class A (NAV)-10.19%-16.20%-16.20%-9.22%1.63% - 3.98%
Class A with sales charges (MOP)2-15.10%-20.83%-20.83%-14.22%-0.25% - 2.51%
Class I (NAV)-10.13%-16.11%-16.11%-8.92%1.91% - 4.26%
Class R (NAV)-10.21%-16.27%-16.27%-9.46%1.40% - 3.73%
MSCI ACWI (Net) Index3-13.50%-21.37%-21.37%-11.26%1.50% - 5.02%
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Morningstar Rating: Category
as of

Overall 3 Year 5 Year
# of Funds

Overall Morningstar Rating as of based on risk-adjusted returns (I share).

Morningstar Category Ranking
as of

Morningstar RatingTM Out of # of Funds
1 Year
3 Year
5 Year

As of , for class I shares (). Other share classes may have different ratings. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10- year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. The Morningstar percentile ranking is based on the fund’s total-return percentile rank relative to all managed products that have the same category for the same time period. The highest (or most favorable) percentile rank is 1%, and the lowest (or least favorable) percentile rank is 100%. Morningstar total return includes both income and capital gains or losses and is not adjusted for sales charges.

Expense Ratios as of 03/01/2020

Fund Gross Expense Ratio Net Expense Ratio4
Class A Shares2.04%1.25%
Class I Shares1.79%1.00%
Class R Shares2.29%1.50%

Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance data may be higher or lower than actual data quoted. For the most current month-end performance data please call (888) 310-0416.

One cannot invest directly in an index.

Returns for periods of less than one year are not annualized.

1Fund inception date of April 11, 2016.

2Maximum Offering Price (MOP) for Class A shares includes the Fund's maximum sales charge of 5.50%. Performance shown at NAV does not include these sales charges and would have been lower had it been taken into account.

3MSCI ACWI (Net) Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets.

4Pursuant to a contract, 1290 Asset Managers® has agreed to make payments or waive its management, administrative and other fees to limit the expenses of the Fund through April 30, 2021 (unless the Board of Trustees consents to an earlier revision or termination of this arrangement) (“Expense Limitation Arrangement”) so that the annual operating expenses of the Fund (exclusive of taxes, interest, brokerage commissions, capitalized expenses (other than offering costs), fees and expenses of other investment companies in which the Fund may invest, 12b-1 fees, and extraordinary expenses not incurred in the ordinary course of the Fund’s business) do not exceed an annual rate of average daily net assets of 1.00% for Class A shares, Class T shares, Class I shares, and Class R shares of the Fund. The Expense Limitation Arrangement may be terminated by 1290 Asset Managers® at any time after April 30, 2021.


Class A

Record DateEx-DatePayable DateOrdinary IncomeShort-Term Capital GainLong-Term Capital Gain
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Class I

Record DateEx-DatePayable DateOrdinary IncomeShort-Term Capital GainLong-Term Capital Gain
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Class R

Record DateEx-DatePayable DateOrdinary IncomeShort-Term Capital GainLong-Term Capital Gain
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