Value Opportunities Fund (HWACX)


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

As of 12/31/2019
Ticker HWACX
Cusip 44134R826
Open to New Investors Yes
Minimum Investment $2,500
Inception Date 08/28/2003
Net Expense Ratio* n/a
Gross Expense Ratio* 1.92%
Dividend Schedule Annual
Capital Gains Schedule Annual
Size of Fund (millions) $781
Size of Class (millions) $44

* As of 06/30/2019
As of 01/21/2020

George Davis, Jr.
31 Years with H&W
35 Years of Experience

David Green, CFA
22 Years with H&W
29 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.

You should consider the Hotchkis & Wiley Value Opportunities Fund's investment objectives, risks, and charges and expenses carefully before you invest. This and other important information is contained in the Fund's summary prospectus and prospectus, which can be obtained by calling 800-796-5606. Read carefully before you invest.

Mutual fund investing involves risk. Principal loss is possible.  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.

Diversification does not assure a profit nor protect against loss in a declining market.

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