Value Approach

All Cap Value

Objective

Long-term capital appreciation through investments in small-, mid- and large-capitalization companies that we believe are undervalued.

Approach

We seek to identify market inefficiencies and catalysts leading to long-term appreciation, with an emphasis on change and restructuring at the industry or corporate level. We focus on complex situations that are difficult to evaluate and understand in a timely fashion, and often have little or no Wall Street support or coverage. We believe this lack of research coverage and positive attention drives investor uncertainty and avoidance, enabling us to purchase attractive stocks at a discount to our assessment of fair market value.

Process

We use fundamental research to identify potential investment opportunities, focusing on catalysts and event-driven situations. Within that universe, we use bottom-up analysis to identify companies that we believe have strong business models, solid growth potential and reasonable valuation parameters.

Performance

Average Annualized
3-Months YTD 1-Year 3-Years 5-Years 10-Years Inception
All Cap Value (Gross)
All Cap Value (Net)
Russell 3000 Value Index
All Cap Value (Gross) All Cap Value (Net) Russell 3000 Value Index

Portfolio Management


Brian R. Keeley, CFA
Portfolio Manager
24 years experience