TCW High Dividend Equities Fund

(Fund is closed to new investors)

At-A-Glance

Ticker Symbol
Daily NAV

Investment Team

  • Iman H. Brivanlou, PhD
null null null null
Fund Name Daily NAV1 Daily1 MTD1 YTD1 3-mo2
Annualized Performance2
1-yr
3-yr 5-yr 10-yr3 Since Inc3
Expense Ratio
Net
Gross
TCW High Dividend Equities Fund I
[Inception Date: 11/28/2014]
$9.82 0.00% 0.00% 0.00% 3.56% 7.62% 2.50% - - 2.05% 1.35% 1.99%
TCW High Dividend Equities Fund N
[Inception Date: 11/28/2014]
$9.82 0.00% 0.00% 0.00% 3.67% 7.62% 2.50% - - 2.05% 1.35% 5.76%
Russell 3000 Value Index - - - - 5.08% 13.19% 8.71% - - 8.74% - -
Russell 3000 Value Index - - - - 5.08% 13.19% 8.71% - - 8.74% - -
1 as of 01/19/18 (updated daily)
2 Performance as of 12/31/2017 (updated monthly)
3 Returns include the performance of the predecessor limited partnership for periods
before the Fund’s registration became effective. The predecessor limited partnership
was not registered under the Investment Company Act of 1940 (“1940 Act”) and
therefore was not subject to certain investment restrictions imposed by the 1940 Act.
If the limited partnership had been registered under the 1940 Act, its performance
may have been adversely affected.

Click here for detailed Quarterly/Monthly Performance 

Investment Objective

The Fund’s investment objective is to seek high total return from current income and capital appreciation.

Investment Approach

The Fund will invest (except when maintaining a temporary defensive position) at least 80% of the value of its net assets, plus any borrowings for investment purposes, in equity securities listed on U.S. financial markets. If the Fund changes this investment policy, it will notify shareholders in writing at least 60 days in advance of the change.

Attribution Analysis

Sector Returns & Attribution (one month)
Russell 3000 Value Index Avg % of Total Equities Benchmark Avg Weight (%) TCW Return (%) Benchmark Return (%) Difference (%) Asset Alloc. Effect Sec. Selection Effect Total Effect
Consumer Discretionary 7.36 7.10 8.28 2.00 6.28 0.06 0.64 0.70
Consumer Staples 3.16 8.18 1.61 1.38 0.23 -0.02 0.02 0.00
Energy 2.68 10.41 5.80 5.00 0.80 -0.33 0.13 -0.21
Financials 16.31 27.13 2.04 1.58 0.46 0.02 0.08 0.10
Health Care 6.46 12.99 1.06 0.29 0.77 0.10 0.00 0.10
Industrials 7.13 8.56 8.74 1.44 7.30 -0.05 0.79 0.74
Information Technology 5.31 8.53 0.40 0.47 -0.07 0.16 -0.16 0.00
Materials 0.00 3.03 0.00 4.13 -4.13 -0.10 0.00 -0.10
Real Estate 15.84 5.17 -1.74 -0.38 -1.36 -0.51 -0.05 -0.56
Telecom Services 3.21 2.76 3.96 5.88 -1.92 0.05 -0.07 -0.02
Utilities 2.54 6.14 -3.47 -5.96 2.49 0.20 0.07 0.26
Total Equity   -0.42 1.45 1.01
as of 12/31/2017 (updated monthly)

Performance Returns

as of 12/31/2017 (updated monthly)

Legal Disclosures


The source for all charts and tables above is TCW
About Performance
The performance data presented represents past performance and is no guarantee of future results. Total returns include reinvestment of dividends and distributions. Current performance may be lower or higher than the performance data presented. Performance data current to the most recent month end is available on the product detail page for each Fund. Investment returns and principal value will fluctuate with market conditions. The value of an investment in the Fund, when redeemed, may be worth more or less than its original purchase cost.
Net and Gross Expense Ratio
Annual fund operating expenses as stated in the Prospectus dated February 28, 2017.
* Effective February 28, 2017, the Advisor has contractually agreed to cap the expenses (excluding interest and acquired fund fees and expenses, if any) of each class of the Fund at 1.18% until March 1, 2018.
Objective
There can be no assurance that the objectives and/or trends will come to pass or be maintained.

The index is not available for direct investment; therefore its performance does not reflect a reduction for fees or expenses incurred in managing a portfolio. The securities in the index may be substantially different from those in the Fund.

A Word About Risk

Equity investments entail equity risk and price volatility risk. The value of stocks and other equity securities will change based on changes in a company’s financial condition and in overall market and economic conditions.

BDCs (Business Development Companies) may have limited operating histories, reliance on their advisors, conflicts of interests, payment of substantial fees to advisors and affiliates, illiquidity and risk liquidations at a value less than the original amount invested. Share redemption plans of non-traded investments are limited and subject to suspension, modification or termination at any time. Any redemptions may be below the purchase price. In addition, non-traded and traded BDCs shares risks including regulatory risks, market cycle risks, interest rate risks, and leverage risks.

The risk that the value of the Fund’s investments will decline due to the Fund’s limited control and limited rights to vote on matters affecting a publicly traded partnership (“PTP”) or master limited partnership (“MLP”), risks related to potential conflicts of interest between a PTP or MLP and the PTP or MLP’s general partner, cash flow risks, dilution risks and risks related to the general partner’s right to require unit-holders to sell their common units at an undesirable time or price. Certain PTP or MLP securities may trade in lower volumes than others, due to their smaller capitalizations, and may be subject to more abrupt or erratic price movements and lower market liquidity. PTPs and MLPs are generally considered interest-rate sensitive investments and may not provide attractive returns.

The Fund’s investments denominated in foreign currencies will decline in value if the foreign currency declines in value relative to the U.S. dollar.

REITs invested in mortgages or loans may also be indirectly subject to various risks associated with those investments, including, but not limited to, interest rate risk, credit risk and defaulted securities risk.
Obtain a Prospectus

You should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. A Fund’s Prospectus and Summary Prospectus contain this and other information about the Fund. To receive a Prospectus, please call 800-386-3829 or you may download the PDF TCW Funds Prospectus. Please read it carefully.


The TCW Funds are distributed by TCW Funds Distributors LLC

Investment Team

  • Photo: Iman H. Brivanlou, PhD
    Iman H. Brivanlou, PhD
    Managing Director

    Dr. Brivanlou heads TCW’s High Income Equities group and is the Lead Portfolio Manager for the TCW High Income Equities and TCW Global REITs funds. He joined TCW in 2006 as an Analyst in the U.S. Equity Research group. His research coverage has spanned the real estate, insurance, business services, transportation, and consumer staples sectors. Prior to TCW, he developed and tested quantitative models aimed at predicting the sizes of catalyst “events” using option pricing for Kayne Anderson, a hedge fund in Century City. Dr. Brivanlou was a Howard Hughes post-doctoral fellow in Molecular Neurobiology at the Salk Institute in La Jolla. He holds a BS in Physics from Massachusetts Institute of Technology (MIT), a PhD in Neuroscience from Harvard University, and an MBA in Finance and Strategy from the UCLA Anderson School of Management.

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