Cullen Emerging Markets High Dividend Fd Retail Cl
CEMDX
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- Cullen Emerging Markets High Dividend Fund Retail Class (CEMDX) is an open-end mutual fund that seeks long-term capital appreciation and current income through investment in high-dividend-paying equities from emerging markets companies. The fund invests primarily in undervalued stocks with above-average earnings growth and robust dividend yields, targeting a portfolio yield of 4.5% or higher; it benchmarks performance against the MSCI Emerging Markets Index and maintains a diversified portfolio across sectors including financials, information technology, consumer discretionary, industrials, and communication services, with top holdings such as Taiwan Semiconductor, Tencent, Alibaba, Zijin Mining, and Samsung Electronics. Geographic exposure spans emerging Asia (primarily China, Taiwan, South Korea, and India), Latin America, Europe emerging markets, and the Middle East, comprising approximately 96.6% non-US stocks; the fund offers multiple share classes including Retail Class (CEMDX), Class C (CEMGX), Class I (CEMFX), and the newly launched Class R6 (CEMEX, inception August 5, 2025). Established on August 31, 2012, and domiciled in the United States, the fund is managed by Cullen Capital Management LLC (doing business as Schafer Cullen Capital Management), with headquarters at 645 Fifth Avenue, New York, NY, and administrative operations in Cincinnati, Ohio. Managed by portfolio managers James Cullen (since inception) and Rahul Sharma (since inception), the fund had total net assets of approximately $1.45 billion as of September 30, 2025, with the Retail Class representing about $71.53 million in share class size. Recent developments include the launch of Class R6 shares (CEMEX) on August 5, 2025, featuring a net expense ratio of 0.90%; ongoing contractual expense limitations by Cullen Capital Management through at least October 31, 2023 (with net expense ratio of 1.25% for Retail Class); and a strategic partnership announced in December 2025 between Schafer Cullen Capital Management and Parametric Portfolio Associates (part of Morgan Stanley Investment Management) to integrate Cullen strategies into Parametric's Custom Active platform for tax-optimized active equity management.