Value Opportunities Fund (HWAIX)
The performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher. Investment return and principal value of the fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. Click quarter-end or month-end to obtain the most recent fund performance.
The Fund seeks capital appreciation using a disciplined, value-oriented investment process to construct a concentrated portfolio of securities representing what we believe to possess attractive risk reward characteristics. Through our independent research, we own investments that we believe are undervalued relative to their tangible assets, have sustainable cash flow and potential for improving business performance. The Fund seeks to own companies, regardless of market capitalization, that offer the best combination of value and potential for price appreciation. The Fund may also own preferred stock, fixed income securities or other investments that we feel offer unique opportunities in the marketplace.
- Constructs a highly concentrated portfolio
- Exploits market inefficiencies caused by investor behavior
- Invests across the market spectrum without regard to benchmark
Read more about the value opportunities strategy
| Ticker | HWAIX |
|---|---|
 | |
| Cusip | 44134R834 |
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| Open to New Investors | Yes |
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| Minimum Investment | $1,000,000 |
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| Inception Date | 12/31/2002 |
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| Gross Expense Ratio* | 1.12% |
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| Net Expense Ratio* | n/a |
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| Dividend Schedule | Annual |
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| Capital Gains Schedule | Annual |
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| Size of Fund (millions) | $186 |
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| Size of Class (millions) | $83 |
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| 30-Day SEC Yield with expense waiver | 1.12% |
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| 30-Day SEC Yield without expense waiver | 1.12% |
* As of 06/30/2012
| NAV | $ CHANGE | % CHANGE |
|---|---|---|
| 25.89 | 0.00 | 0.00 |
STYLE: MID VALUE
Mr. Davis and Mr. Green coordinate the day-to-day management of the Value Opportunities Fund portfolio. They also represent the Value Opportunities Fund to current and prospective shareholders.
To view the full investment team, click here. You will be leaving the mutual fund site and a separate browser window will open to the advisor site.
Mutual fund investing involves risk. Principal loss is possible. Diversification does not assure a profit nor protect against loss in a declining market. Investing in non-diversified funds and/or smaller and/or medium-sized companies involves greater risks than those associated with investing in diversified funds and/or large company stocks, such as business risk, significant stock price fluctuations, sector concentration and illiquidity. The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the Fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities.
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The Morningstar Style BoxTM reveals a fund’s investment strategy. For equity funds the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend or growth).
The Hotchkis & Wiley Funds are distributed by Quasar Distributors, LLC
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