| Managed by Keeley Asset Management Corp. |  |
Click here for Historical NavMarket Data
Daily - July 8, 2008
| Ticker Symbol | NAV | POP | Daily NAV $Change | Daily NAV %Change | NAV Calendar YTD Total Return | POP Calendar YTD Total Return |
|---|---|---|---|---|---|---|
| KACVX | 12.51 | 13.10 | +$0.14 |
+1.13% | -6.15% | -10.37% |
| KACIX | 12.52 | n/a | +$0.13 |
+1.05% | -6.08% | n/a |
| Ticker Symbol | Current Quarter |
1 YR | 3 YR | 5 YR | 10 YR | Avg. Annual S.I. 06/14/06 |
|---|---|---|---|---|---|---|
| KACVX no Load** | -10.73% | -0.17% | n/a | n/a | n/a | 10.19% |
| KACVX with Load*** | -14.74% | -4.66% | n/a | n/a | n/a | 7.39% |
| KACIX no Load** | -10.65% | 0.10%* | n/a | n/a | n/a | 10.48%* |
| Russell 3000 Value®**** | -9.18% | -12.88% | n/a | n/a | n/a | 1.90% |
Performance data represents past performance which is no guarantee of future results Investment return and principal value of an investment will fluctuate so that an investor's shares when redeemed, may be worth more or less than the original cost. Read the prospectus carefully before investing.
Performance data does not reflect the deduction of the sales load. If reflected, the sales load would reduce the performance quoted.
* The Institutional share class commenced operations on December 31, 2007. Performance prior to that date is for A shares, that would have substantially similar returns because all classes invest in the same portfolio of securities, differing only to the extent the share classes have different class specific expenses.
** Returns do not reflect deduction of the Fund's 4.50% front-end sales charge.
*** Returns reflect the effect of the Fund's 4.50% front-end sales charge.
**** Russell 3000® Value Index measures the performance of those Russell 3000 Value Index companies with lower price-to-book ratios and lower forecasted growth values. The stocks in this index are also members of either the Russell 1000 Value or the Russell 2000 Value indexes.
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Rankings
Not available.
Investment Objective
Seeks long-term capital appreciation through investments in companies we believe are undervalued, but have a stable or improving earnings record and sound finances.
Fund Profile
| Total Net Asset | $104,120,527 |
| Number of Holdings | 106 |
| Weighted Avg. Market Cap | $8,721,248,038 |
| Annual Fund Operating Expenses* | 1.48% |
| Waiver/Expense Reimbursement* | -0.09% |
| Expense Ratio* | |
| KACVX* | 1.39% |
| KACIX* | 1.14% |
| Asset Allocation % | |
| Equity | 99.4 |
| Cash & Equivalents | 0.6 |
| *The Adviser has contractually agreed to waive a portion of its fee or reimburse the Funds to the extent that total operating expenses during the current fiscal year exceed 1.39% for Class A shares, and 1.14% for Class I shares. The waiver for the All Cap Value Fund is in effect through September 30, 2008. | |
Investment Process
The Fund managers focus on identifying undervalued companies with stable or improving earnings records and sound finances.
Among the characteristics that the Fund managers focus on in evaluating companies are financial productivity, solid management, a sound business model and competitive advantages. Value is analyzed by looking at price relative to the true economic value of the company.
Risk
Smaller and medium-sized company stocks are more volatile and less liquid than larger more established company securities.
Top Ten Holdings(1)
| Company Name | Total % of Portfolio |
|---|---|
| Walter Industries Inc. | 1.63% |
| Rex Energy Corp. | 1.36% |
| Tecumseh Products Co. | 1.36% |
| JP Morgan Chase & Co. | 1.32% |
| Forestar Real Estate Group Inc. | 1.32% |
| Continental Resources Inc. | 1.26% |
| Southwestern Energy Co. | 1.23% |
| Hill International Inc. | 1.17% |
| Petrohawk Energy Corp. | 1.16% |
| Joy Global Inc. | 1.16% |
Investment Focus(2)
Sector Diversification %
| Automobiles & Components | 1.90% |
| Banks | 3.61% |
| Cash & Cash Equivalents | 0.64% |
| Capital Goods | 31.77% |
| Commercial Services & Supplies | 2.08% |
| Consumer Durables & Apparel | 2.22% |
| Consumer Services | 3.39% |
| Diversified Financials | 6.98% |
| Energy | 11.91% |
| Food and Staples | 0.99% |
| Health Care Equipment | 1.93% |
| Materials | 15.89% |
| Real Estate | 1.32% |
| Retailing | 3.86% |
| Software & Services | 2.83% |
| Technology Hardware & Equipment | 1.86% |
| Telecommunication Services | 0.86% |
| Transportation | 2.15% |
| Utilities | 3.81% |
Portfolio Characteristics(1)
| KACVX | Russell 3000 Value Index |
|
|---|---|---|
| Market Cap (billions) -Weighted Avg. |
$8.7 | $98.7 |
| Earnings Growth - Last 5 year |
26.6% | 19.3% |
| P/E Ratio* - Last 12 Months |
14.3x | 13.6x |
| Beta** | 1.26 | 1.00 |
* A price-earnings ratio (P/E) shows the multiple of earnings at which a stock sells.
** Beta is the current measure of a portfolio’s risk in relation to the market or a benchmark. For example, a benchmark or index will have a beta of 1, so any portfolio with a higher beta is more volatile than the benchmark. Any with a lower beta may be less volatile than the market.
Distribution Information
| KACVX Record Date |
Ex-date | Pay Date | Short Term | Long Term | Ordinary Income | Total Distribution | Reinvest NAV |
|---|---|---|---|---|---|---|---|
| 12/26/2007 | 12/27/2007 | 12/27/2007 | – | – | – | – | n/a |
| 12/26/2006 | 12/27/2006 | 12/27/2006 | – | – | $0.00325 | $0.00325 | n/a |
| KACIX Record Date |
Ex-date | Pay Date | Short Term | Long Term | Ordinary Income | Total Distribution | Reinvest NAV |
|---|---|---|---|---|---|---|---|
| – | – | – | – | – | – | – | – |
Proxy Voting Policy
Proxy Voting Policy and Procedures [pdf]
To view how the KEELEY funds voted proxies during the most recent 12-month period click here to be transferred to the website of the Securities and Exchange Commission to view the Form N-PX.
Morningstar
(2)The Morningstar Style Box™ 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). For fixed-income funds the vertical axis shows the average credit quality of the bonds owned, and the horizontal axis shows interest rate sensitivity as measured by a bond’s duration (short, intermediate or long). Back to Top...
(1) Portfolio holdings will change, and should not be considered purchase recommendations. Top holdings do not reflect cash, money markets or options/ futures contracts holdings.
Securities in the Fund may not match those in the indexes and performance of the Fund will differ. Direct investment in an index is not possible. KEELEY All Cap Value Fund is distributed by Keeley Investment Corp.
