Seeks long-term capital appreciation through investments in small capitalization companies that we believe are undervalued. Companies generally have a market capitalization below $3.5 billion at the time of purchase.
Our philosophy is to deliver above average long-term results, while reducing portfolio risk through the application of a disciplined, opportunistic, and unique investment strategy. Our investment team uses a bottom-up, fundamental approach to stock selection focusing the majority of the portfolio on companies undergoing internal corporate restructuring.
Smaller and medium-sized company stocks are more volatile and less liquid than larger more established company securities.
Fund Profile - as of December 31, 2013
|Total Net Assets||$3,194,339,344|
|Number of Holdings||106|
|Gross Expense Ratio (Class A Shares)||1.39%|
|Gross Expense Ratio (Class I Shares)||1.14%|
|Net Expense Ratio|
|Asset Allocation %|
|Cash & Equivalents||1.1%|
|*The Fund's adviser has contractually agreed to waive a portion of its management fee or reimburse the Fund if total ordinary operating expenses during the current fiscal year as a percentage of the Fund's average net assets exceed 1.39% for Class A Shares and 1.14% for Class I Shares. The waiver excludes expenses related to taxes, interest charges, dividend expenses incurred on securities that a Fund sells short, litigation expenses, and other extraordinary expenses, brokerage commissions and other charges relating to the purchase and sale of portfolio securities. The waiver is in effect through January 1, 2015.|
|Category||3 Yrs & Overall
Stars / #Funds
* Star ratings are based on risk-adjusted return. The overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10- year Morningstar Rating metrics. (Overall: 2 stars out of 609 funds; 3-years: 2 stars out of 609 funds; 5-years: 1 star out of 551 funds; 10-years: 3 stars out of 334 funds in the Small Blend category).
©2005 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Securities indexes assume reinvestment of all distributions and interest payments and do not take in account brokerage fees or taxes.
Morningstar ratings are subject to change monthly and are calculated from the fund's 3-, 5- and 10 year average annual returns (if applicable) in excess of 90-day T-bill returns with appropriate fee adjustments, and a risk factor that reflects fund performance below 90- day T- bill returns. The top 10% of the funds in a broad-asset class receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. For the 2 - year period ending 12.31.13 the KEELEY Small Cap Value Fund received 2 stars.