Small-Mid Cap Value Fund

Investment Objective

Capital Appreciation

Fund Characteristics

The Small-Mid Cap Value Fund seeks to identify small and mid cap companies priced at discounts to their intrinsic values and with fundamentals that are solid or improving.

Investment Approach

  • We believe the key to successful investing is striking a balance between attractive valuations and solid fundamentals
  • Seeks to identify undervalued companies with sound business fundamentals
  • Favors companies that are trading at low price/earnings and price/cash flow multiples, possess strong balance sheets with solid cash positions and little or no long-term debt, and have low ratios of market value to sales
  • Key investment criteria include: a stock price at a material discount to a company’s intrinsic value, a reasonable expectation of improving profitability over the next three years, a skilled and committed management team, a strong capital structure, and positive corporate change within a three-year investment horizon

Why Consider This Fund?

  • Engages a deep and experienced team committed to fundamental research
  • Employs a time-tested investment philosophy
  • Seeks stocks that combine attractive valuation and strong fundamentals and that are either quality companies trading at discount prices or are corporate transformation opportunities 
  • Consistently applies a disciplined, rigorous investment process to uncover opportunities and reduce stock-specific and portfolio level risk
    - Proprietary free cash flow return on invested capital and valuation models  
  • Seeks to provide strong absolute and risk-adjusted performance


The Fund’s returns will vary, and you could lose money by investing in the Fund.  The Fund invests most of its assets in equity securities of small cap domestic growth companies where the primary risk is that the value of the equity securities it holds might decrease in response to the activities of those companies or market and economic conditions. Individual securities may not perform as expected or a strategy used by the Adviser may fail to produce its intended result. Investing in smaller companies involves special risks, including higher volatility and lower liquidity. Small cap stocks are also more sensitive to purchase/sale transactions and changes in the issuer’s financial condition. These risks are intensified for investments in micro-cap companies.  Individual securities may not perform as expected or a strategy used by the Adviser may fail to produce its intended result. Convertible securities may be called before intended, which may have an adverse effect on investment objectives. The Fund is not intended to be a complete investment program. The Fund is designed for long-term investors.