All investments involve risk and may lose value. This podcast is for general information purposes only and is not intended to be and should not be relied on for investment advice.
Investment returns include reinvestment of dividends, interest and capital gains. Valuation is based on trade-date information. Net performance results are presented after actual management fees and all trading expenses but before custodial fees. The Large Cap Fundamental Value strategy’s returns for different time periods and market cycles can result in significantly different performance results. An account’s investment guidelines, timing of transactions, market conditions at the time of investment and other factors may lead to different performance results. The H&W Large Cap Fundamental Value composite (net of fees), Russell 1000 Value Index and S&P 500 Index through June 30, 2021: 5.36%, 64.57%, 14.86%, 12.93%, 12.77%; 5.21%, 43.68%, 11.87%, 11.61%, 11.78%; 8.55%, 40,79%, 17.65%, 14.84%, 12.13% for 2Q21, one-, five- and ten-years, and since inception, respectively. Other performance disclosures are included in the strategy’s GIPS Report.
The portfolio manager’s views and opinions expressed in this podcast are as of July 21, 2021. Such views are subject to change without notice and may differ from others in the firm, or the firm as a whole. The portfolio manager’s comments may include estimated and/or forecasted views, which are believed to be based on reasonable assumptions within the bounds of current and historical information. However, there is no guarantee that any estimates, forecasts or views will be realized. Any discussion or view on an asset class/segment, industry/sector and/or investment type are not investment recommendations, should not be assumed to be profitable, and are subject to change without notice. In the event of new information or changed circumstances, H&W reserves the right to change its investment perspective and outlook and has no obligation to provide revised assessments and/or opinions.
General Electric and Wells Fargo are current holdings in the Large Cap Fundamental Value strategy as of podcast date, but may be removed at any time, for any reason, without notice, subsequent to the podcast date. The securities detailed in this podcast are intended to be for illustrative purposes only and are not intended to be, and should not be construed as, investment recommendations. Past performance of these securities, or any other investments, is not an indicator of future results. Hotchkis & Wiley’s opinions regarding these securities are subject to change at any time, for any reason, without notice. No assurance is made that any securities identified, or all investment decisions by H&W were or will be profitable.
Investing in equity securities have greater risks and price volatility than U.S. Treasuries and bonds, where the price of these securities may decline due to various company, industry, and market factors. Investing in foreign as well as emerging markets involves additional risk such as greater volatility, political, economic, and currency risks and differences in accounting methods.
A value-oriented investment approach involves the risk that value stocks may remain undervalued or may not appreciate in value as anticipated. Value stocks can perform differently from the market as a whole or from other types of stocks and may be out of favor with investors and underperform growth stocks for varying periods of time. Value and growth investing styles will go in and out of favor during different economic environments. Growth investing tends to work well during speculative, momentum-driven markets, while value investing tends to work well following recessionary periods.
Market Disruption: The global coronavirus pandemic has caused disruption in the global economy, unprecedented business and travel disruption and extreme fluctuations in global capital and financial markets. H&W is unable to predict the consequences of the upheaval caused by coronavirus pandemic, which has the potential to negatively impact the firm’s investment strategies and investment opportunities.
©2021 Hotchkis & Wiley. All rights reserved. No portion of the podcast may be published, reproduced, transmitted or rebroadcast in any form without the express written permission of H&W.
Past performance is not indicative of future performance.