Strategy Attributes
- Global all-cap equity portfolio diversified across commodities, concentrated around positions in companies that own geologically advantaged assets.
- Long-term investment horizon, low portfolio turnover.
- Dedicated Global Natural Resources Team averages 21 years investment experience.
Process and Philosophy
- Value-oriented investment philosophy emphasizing capital preservation and through-cycle returns vs. short-term commodity price speculation.
- Emphasis on identification of superior, low-cost companies that own advantaged assets and create value irrespective of commodity prices.
- Private equity approach with hundreds of hours of analysis supporting investment decisions, with a focus on management acumen and returns on capital.
Investment Objective
Long-term capital appreciation.
Style:
Natural Resources Sector
Fund Facts
(Class A)| Inception | 11/15/95 |
| AUM (as of 12/31/11) | $3,090,022,584 |
| Ticker | RSNRX |
| CUSIP | 74972H705 |
| Minimum Investment | $2,500 |
| Minimum Investment in IRA | $1,000 |
| Maximum Sales Load | 4.75% |
| Management Fees* | 1.00% |
| Distribution (12b-1) Fees* | 0.25% |
| Other Expenses* | 0.22% |
| Fee Waiver/Expense Limitation1 | -0.02% |
| Net Expenses1 | 1.45% |
| Total Annual Fund Operating Expenses*1 | 1.47% |
| * As reported in the May 1, 2011 Prospectus. | |
1 RS Investments has contractually agreed through April 30, 2012 to reduce its management fee with respect to Class A shares of the Fund to the extent that Class A's Total Annual Fund Operating Expenses (excluding expenses indirectly incurred by the Fund through investments in Acquired Funds, interest, taxes, and extraordinary expenses) exceed 1.45%, and to reduce the management fee paid by each of the other classes of the Fund so that each of those classes bears the same level of management fees as Class A shares during the period.
Total Annual Fund Operating Expenses are based on amounts incurred during the Fund's most recent fiscal year, as expressed as a percentage of average net assets during the fiscal year. The decline in the Fund's average net assets over the past year or more due to market volatility or other factors will cause the Fund's expense ratios for the Fund's current fiscal year to be higher than the expense information presented, but not to exceed the expense limitation shown.
