Value Opportunities Fund (HWAIX)

I SHARES    A SHARES    C SHARES   

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.

Strategy & Objective

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

FUND FACTS
As of 08/31/2014
Ticker HWAIX
Cusip 44134R834
Open to New Investors Yes
Minimum Investment $1,000,000
Inception Date 12/31/2002
Gross Expense Ratio* 1.00%
Net Expense Ratio* n/a
Dividend Schedule Annual
Capital Gains Schedule Annual
Size of Fund (millions) $516
Size of Class (millions) $292
30-Day SEC Yield with expense waiver n/a
30-Day SEC Yield without expense waiver 1.18%

* As of 06/30/2014
As of 09/16/2014
INVESTMENT TEAM


George Davis, Jr.
26 Years with H&W
30 Years of Experience


David Green, CFA
17 Years with H&W
24 Years of Experience

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 ETFs, which are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund’s ability to sell its shares. 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. The Fund may invest in derivative securities, which derive their performance from the performance of an underlying asset, index, interest rate or currency exchange rate. Derivatives can be volatile and involve various types and degrees of risks. Depending on the characteristics of the particular derivative, it could become illiquid.
 

The Hotchkis & Wiley Funds are distributed by Quasar Distributors, LLC