NPORT-EX 2 AGFnportf.htm

 

AGF Investments Trust

AGF Emerging Markets Equity Fund

Schedule of Investments

March 31, 2021 (Unaudited)

  

Investments  Shares   Value ($) 
         
COMMON STOCKS - 88.9%
         
Aerospace & Defense - 0.9%          
Singapore Technologies Engineering Ltd.   2,699    7,805 
           
Banks - 10.6%          
Axis Bank Ltd., GDR*   418    19,980 
Banco Bradesco SA (Preference)*   2,318    11,024 
Bank Mandiri Persero Tbk. PT   26,307    11,139 
Credicorp Ltd.   31    4,234 
DBS Group Holdings Ltd.   373    7,983 
Grupo Financiero Banorte SAB de CV, Class O*   559    3,149 
Industrial & Commercial Bank of China Ltd., Class H   12,241    8,786 
Komercni banka A/S*   219    6,760 
Sberbank of Russia PJSC, ADR   537    8,275 
Shinhan Financial Group Co. Ltd., ADR   377    12,645 
         93,975 
Beverages - 2.3%          
Budweiser Brewing Co. APAC Ltd.   2,492    7,437 
Coca-Cola HBC AG   291    9,267 
Fomento Economico Mexicano SAB de CV, ADR   54    4,068 
         20,772 
Biotechnology - 0.5%          
Hugel, Inc.*   31    4,889 
           
Chemicals - 0.3%          
Hansol Chemical Co. Ltd.   13    2,768 
           
Construction & Engineering - 2.3%          
Larsen & Toubro Ltd., GDR   1,056    20,317 
           
Diversified Consumer Services - 0.6%          
New Oriental Education & Technology Group, Inc., ADR*   160    2,240 
YDUQS Participacoes SA   679    3,222 
         5,462 
Diversified Financial Services - 2.0%          
Chailease Holding Co. Ltd.   1,547    10,681 
FirstRand Ltd.   2,025    7,082 
         17,763 
Diversified Telecommunication Services - 2.0%          
Hellenic Telecommunications Organization SA   502    8,053 
Telkom Indonesia Persero Tbk. PT   41,697    9,818 
         17,871 
Electrical Equipment - 0.8%          
Zhuzhou CRRC Times Electric Co. Ltd., Class H   2,014    7,513 
           
Electronic Equipment, Instruments & Components - 2.3%          
Delta Electronics, Inc.   1,128    11,385 
Samsung Electro-Mechanics Co. Ltd.   55    9,112 
         20,497 
Energy Equipment & Services - 1.9%          
Tenaris SA, ADR   746    16,927 
           
Food & Staples Retailing - 1.8%          
Atacadao SA*   1,921    7,925 
Wal-Mart de Mexico SAB de CV   2,439    7,693 
         15,618 
Health Care Providers & Services - 0.9%          
Odontoprev SA   3,300    7,710 
           
Hotels, Restaurants & Leisure - 1.4%          
Melco Resorts & Entertainment Ltd., ADR*   626    12,464 
           
Household Durables - 1.5%          
Haier Smart Home Co. Ltd., Class H*   3,363    13,453 
           
Insurance - 4.1%          
AIA Group Ltd.   2,290    27,778 
Ping An Insurance Group Co. of China Ltd., Class H   757    9,012 
         36,790 
Interactive Media & Services - 8.3%          
Tencent Holdings Ltd.   936    73,444 
           
Internet & Direct Marketing Retail - 8.2%          
Alibaba Group Holding Ltd.*   1,652    46,750 
Naspers Ltd., Class N   50    11,964 
Trip.com Group Ltd., ADR*   349    13,831 
         72,545 
IT Services - 0.1%          
Globant SA*   6    1,246 
           
Life Sciences Tools & Services - 1.3%          
Wuxi Biologics Cayman, Inc.*   955    11,959 
           
Machinery - 2.3%          
Airtac International Group   458    16,132 
Weichai Power Co. Ltd., Class H   1,587    3,919 
         20,051 
Metals & Mining - 2.4%          
Anglo American plc   288    11,286 
Southern Copper Corp.   102    6,923 

 

 

 

 

AGF Investments Trust

AGF Emerging Markets Equity Fund

Schedule of Investments

March 31, 2021 (Unaudited)

 

Investments  Shares   Value ($) 
Vale SA   194    3,376 
         21,585 
Multiline Retail - 0.9%          
Lojas Americanas SA (Preference)*   1,907    7,576 
           
Oil, Gas & Consumable Fuels - 5.0%          
LUKOIL PJSC, ADR   272    21,994 
Reliance Industries Ltd., GDR   400    22,120 
         44,114 
Paper & Forest Products - 1.4%          
Mondi plc   473    12,063 
           
Personal Products - 1.1%          
LG Household & Health Care Ltd.   7    9,711 
           
Pharmaceuticals - 1.5%          
Richter Gedeon Nyrt.   205    6,044 
Sino Biopharmaceutical Ltd.   7,468    7,474 
         13,518 
Real Estate Management & Development - 2.0%          
China Overseas Land & Investment Ltd.   1,232    3,201 
China Vanke Co. Ltd., Class H   2,776    10,873 
KWG Living Group Holdings Ltd.*   3,880    3,943 
         18,017 
Semiconductors & Semiconductor Equipment - 7.9%          
Taiwan Semiconductor Manufacturing Co. Ltd., ADR   593    70,140 
           
Software - 0.7%          
TOTVS SA   1,298    6,671 
           
Specialty Retail - 1.3%          
Foschini Group Ltd. (The)*   1,427    11,871 
           
Technology Hardware, Storage & Peripherals - 6.8%          
Samsung Electronics Co. Ltd., GDR   33    60,192 
           
Textiles, Apparel & Luxury Goods - 1.5%          
Eclat Textile Co. Ltd.   782    13,155 
           
TOTAL COMMON STOCKS
(COST $663,033)		        790,452 

 

        

 

Investments

  Shares   Maturity
Date		    Value ($) 
              
PARTICIPATION NOTES - 5.2%         
China         
Anhui Conch Cement Co., Ltd. (Issuer: Bank of America Merrill Lynch)   802   10/14/2021     6,266 
Kweichow Moutai Co., Ltd.
(Issuer: Bank of America Merrill Lynch)		   41   12/13/2021     12,566 
Nari Technology Co., Ltd
(Issuer : Macquarie Bank Limited)		   4,800   03/13/2023     22,803 
Ningbo Xusheng Auto Technology Co., Ltd. (Issuer : Macquarie Bank Limited)   908   01/13/2023     4,315 
TOTAL PARTICIPATION NOTES
(Cost $38,561)		             45,950 

 

  

         
Investments  Shares   Value ($) 
EXCHANGE TRADED FUNDS - 4.2%          
iShares MSCI India ETF          
 (Cost $33,864)   898    37,878 
           
Total Investments - 98.3%
 (Cost $735,458)		        874,280 
Other assets less liabilities - 1.7%        14,841 
Net Assets - 100.0%        889,121 

  

* Non-income producing security.

 

Abbreviations
ADR American Depositary Receipt
GDR Global Depositary Receipt
PJSC Public Joint Stock Company
Participation Notes

A derivative instrument designed to replicate equity exposure in certain foreign markets where direct investment is impossible or difficult due to local investment restrictions. A Participation Note is usually issued by a financial institution, therefore investors are exposed to the issuer’s credit risk and

the risks of the underlying financial instrument.

Preference A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference.

  

 

 

 

AGF Investments Trust

AGF Emerging Markets Equity Fund

Schedule of Investments

March 31, 2021 (Unaudited)

 

AGF Emerging Markets Equity Fund invested, as a percentage of net assets, in the following countries as of March 31, 2021:
 
Argentina   0.1%
Brazil   5.3%
China   26.6%
Czech Republic   0.8%
Greece   0.9%
Hong Kong   7.9%
Hungary   0.7%
India   7.0%
Indonesia   2.4%
Mexico   1.7%
Netherlands Antilles   2.1%
Peru   1.3%
Russia   3.4%
Singapore   1.8%
South Africa   4.7%
South Korea   11.2%
Switzerland   1.0%
Taiwan   11.8%
United Kingdom   1.4%
United States   6.2%
Other(1)   1.7%
    100.0%

  

(1) Includes any non-equity securities and net other assets (liabilities).

 

 

 

 

 

AGF Investments Trust

AGF Global Sustainable Growth Equity Fund

Schedule of Investments

March 31, 2021 (Unaudited)

  

Investments  Shares   Value ($) 
         
COMMON STOCKS - 90.5%
         
Auto Components - 6.4%          
Aptiv plc*   445    61,366 
Denso Corp.   812    53,879 
         115,245 
Building Products - 8.5%          
Advanced Drainage Systems, Inc.   244    25,227 
Kingspan Group plc   561    47,565 
Nibe Industrier AB, Class B   1,005    31,162 
Trex Co., Inc.*   544    49,798 
         153,752 
Capital Markets - 1.8%          
MSCI, Inc.   79    33,123 
           
Chemicals - 8.6%          
Albemarle Corp.   244    35,651 
Chr Hansen Holding A/S*   99    8,996 
Croda International plc   293    25,641 
Ecolab, Inc.   172    36,820 
Johnson Matthey plc   785    32,607 
Umicore SA   315    16,708 
         156,423 
Commercial Services & Supplies - 4.2%          
Tetra Tech, Inc.   369    50,081 
TOMRA Systems ASA   583    25,240 
         75,321 
Construction & Engineering - 3.7%          
Valmont Industries, Inc.   166    39,453 
WSP Global, Inc.   286    27,210 
         66,663 
Containers & Packaging - 1.2%          
Ball Corp.   267    22,626 
           
Electric Utilities - 0.9%          
Orsted A/S   105    16,959 
           
Electrical Equipment - 5.6%          
Legrand SA   339    31,533 
Prysmian SpA   1,416    46,014 
Siemens Gamesa Renewable Energy SA   638    24,690 
         102,237 
Electronic Equipment, Instruments & Components - 12.6%          
Amphenol Corp., Class A   446    29,423 
Halma plc   1,094    35,804 
Hexagon AB, Class B   236    21,769 
Keyence Corp.   100    45,401 
Samsung SDI Co. Ltd.   71    41,405 
Trimble, Inc.*   701    54,531 
         228,333 
Food Products - 2.4%          
Beyond Meat, Inc.*   118    15,354 
Kerry Group plc, Class A   228    28,529 
         43,883 
Health Care Equipment & Supplies - 2.6%          
Danaher Corp.   210    47,267 
           
Household Durables - 2.1%          
Garmin Ltd.   283    37,313 
           
Independent Power and Renewable Electricity Producers - 0.4%          
Brookfield Renewable Corp.   156    7,308 
           
Internet & Direct Marketing Retail - 1.0%          
HelloFresh SE*   238    17,751 
           
Leisure Products - 4.2%          
Giant Manufacturing Co. Ltd.   2,826    34,071 
Shimano, Inc.   180    42,876 
         76,947 
Life Sciences Tools & Services - 2.4%          
Thermo Fisher Scientific, Inc.   96    43,812 
           
Machinery - 7.7%          
Cummins, Inc.   203    52,599 
Metso Outotec OYJ*   1,642    18,303 
NFI Group, Inc.   1,521    33,865 
Xylem, Inc.   329    34,604 
         139,371 
Mortgage Real Estate Investment Trusts (REITs) - 1.7%          
Hannon Armstrong Sustainable Infrastructure Capital, Inc.   548    30,743 
           
Professional Services - 1.6%          
Stantec, Inc.   685    29,325 
           
Semiconductors & Semiconductor Equipment - 5.7%          
Analog Devices, Inc.   154    23,882 
Cree, Inc.*   170    18,382 
Enphase Energy, Inc.*   94    15,243 
Infineon Technologies AG   1,082    45,876 
         103,383 
Software - 4.2%          
ANSYS, Inc.*   86    29,202 
Dassault Systemes SE   169    36,149 
Zoom Video Communications, Inc., Class A*   31    9,960 
         75,311 
Water Utilities - 1.0%          
American Water Works Co., Inc.   116    17,391 
           
TOTAL COMMON STOCKS
(COST $1,073,900)		        1,640,487 

 

 

 

 

AGF Investments Trust

AGF Global Sustainable Growth Equity Fund

Schedule of Investments

March 31, 2021 (Unaudited)

 

Investments  Shares   Value ($) 
MASTER LIMITED PARTNERSHIPS - 1.3%          
           
Independent Power and Renewable Electricity Producers - 1.3%          
Brookfield Renewable Partners LP (Cost $12,134)   553    23,608 
           
Total Investments - 91.8%
 (Cost $1,086,034)		        1,664,095 
Other assets less liabilities - 8.2%        149,416 
Net Assets - 100.0%        1,813,511 

  

* Non-income producing security.

 

Abbreviations
OYJ Public Limited Company

 

AGF Global Sustainable Growth Equity Fund invested, as a percentage of net assets, in the following countries as of March 31, 2021:
 
Belgium   0.9%
Canada   6.3%
Denmark   1.4%
Finland   1.0%
France   3.7%
Germany   3.5%
Ireland   4.2%
Italy   2.5%
Japan   7.9%
Norway   1.4%
South Korea   2.3%
Spain   1.4%
Sweden   2.9%
Taiwan   1.9%
United Kingdom   5.2%
United States   45.3%
Other(1)   8.2%
    100.0%

 

(1) Includes any non-equity securities and net other assets (liabilities).

  

 

 

 

 

  

AGF Investments Trust

Notes to Quarterly Schedules of Investments 

March 31, 2021 (Unaudited)

 

Investment Valuation

 

The Funds disclose the fair value of its investments in a hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of the Funds (observable inputs) and (2) the Funds’ own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the hierarchy are as follows:

 

·Level 1 — Quoted prices in active markets for identical assets.

 

·Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

 

·Level 3 — Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

 

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

 

The following is a summary of the valuations as of March 31, 2021 for the Fund based upon the three levels defined above:

 

AGF Emerging Markets Equity Fund  Level 1 — Quoted
Prices		   Level 2 — Other
Significant
Observable
Inputs		   Level 3 —
Significant
Unobservable
Inputs		   Total 
Investments
  Common Stocks*  $790,452   $—   $—   $790,452 
  Exchange Traded Funds   37,878    —    —    37,878 
  Participation Notes   —    45,950    —    45,950 
Total Investments  $828,330   $45,950   $—   $874,280 
                     
AGF Global Sustainable Growth Equity Fund                    
Investments                    
  Common Stocks*  $1,640,487   $—   $—   $1,640,487 
  Master Limited Partnerships   23,608    —    —    23,608 
Total Investments  $1,664,095   $—   $—   $1,664,095 

  

*      See Schedules of Investments for presentation by industry type.