Fund Overview
Share Class
N
NAV | as of 01/25/2021
$12.43+$0.01 (+0.08%)
Overall Morningstar Rating
Rated against 188 Long-Short Equity funds as of 12/31/2020
View Morningstar Details
Growth of $10,000 (Hypothetical)
Since Inception 05/04/2011 to 12/31/2020 = $16,686.52
The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown.
Objective
Seeks to provide absolute return while minimizing volatility by investing in U.S. stocks River Road expects to increase in value, and shorting stocks River Road expects to decrease in value.
Why Consider
- May be appropriate for investors looking for reduced correlation to traditional long-only style investments
- Enlightened risk management—portfolio managers will not average down on losing positions
- Employs a proprietary, fundamentals-driven Absolute Value® investment philosophy in taking long and short equity positions
Performance
Performance
Read Important Investment DisclosuresReturns
The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods less than one year are not annualized.
Expense Ratios
- Gross Expense Ratio: 2.85%
- Net Expense Ratio: 2.44%
- Expense Cap Expiration Date: 03/01/2021
Distributions & Pricing
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Calendar Year Distributions
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Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Dec 16, 2019 $1.081400 — $0.855700 $0.225700 Dec 27, 2018 $0.712800 — $0.135600 $0.577200 Dec 30, 2015 $0.380900 — $0.268500 $0.112400 Dec 30, 2014 $0.297900 — $0.278900 $0.019000 Dec 30, 2013 $0.290800 — $0.289100 $0.001700 Dec 28, 2012 $0.561000 — $0.533100 $0.027900
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Portfolio & Holdings
Portfolio & Holdings
Top Holdings (Long)
As of: 12/31/2020
| Berkshire Hathaway Inc, Class B | 5.01% |
| Liberty Broadband Corp, Class C | 4.07% |
| KKR & Co Inc, Class A | 3.36% |
| Ares Management Corp, Class A | 3.05% |
| Liberty Media Corp-Liberty SiriusXM, Class C | 3.04% |
| General Dynamics Corp | 2.90% |
| Hostess Brands Inc, Class A | 2.85% |
| CVS Health Corp | 2.77% |
| Intercontinental Exchange Inc | 2.58% |
| Comcast Corp, Class A | 2.49% |
| % in Top 10 Holdings | 32.12% |
Investment Approach
Investment Approach
River Road Long-Short Fund
The Fund pursues its investment objective by taking long and short positions in equity securities. Under normal circumstances, the Fund will maintain higher percentages of its assets in long positions. The Fund’s Absolute Value® approach to investment utilizes systematic and dynamic proprietary research target companies exhibiting:
- Financial strength at attractive prices
- Shareholder-oriented management teams
- Undiscovered, under-followed, misunderstood companies with attractive business models
About
About River Road Asset Management
Background
River Road Asset Management was established in 2005 and provides institutional separate account and investment sub-advisory services to a broad range of domestic and international clients. The firm was founded upon a proprietary Absolute Value® investment discipline. This approach was developed by River Road’s founders and occupies a distinct niche within value investing styles.
Learn MoreMore Funds From River Road Asset Management
ARDEX
River Road Dividend All Cap Value Fund
Seeks to provide high current income and, secondarily, long-term capital appreciation by investing primarily in a diversified, all cap portfolio of income producing equity securities.
View Fund DetailsARRFX
River Road Focused Absolute Value Fund
Seeks to provide long-term capital appreciation by investing in a concentrated all cap portfolio of securities.
View Fund DetailsARSMX
River Road Small-Mid Cap Value Fund
Seeks to provide long-term capital appreciation by investing in a portfolio of small and mid capitalization equity securities.
View Fund DetailsARSVX
River Road Small Cap Value Fund
Seeks to provide long-term capital appreciation by investing in a portfolio of primarily small but also can invest in mid capitalization equity securities.
View Fund DetailsFounded
2005
Headquarters
Louisville, KY
Affiliate Since
2014
Funds to Consider
Discover how AMG Funds brings more than 70 products from over 25 independent boutiques together under one flag.
Learn More About AMG FundsPerformance Details
River Road Long-Short Fund (ARLSX)
Fund Inception
Fund Inception
The performance shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indicies exclude expenses. Unlike the Fund, the Index listed is unmanaged, is not available for investment and does not incur expenses.
Read Important Investment DisclosuresAll Characteristics & Stats
River Road Long-Short Fund (ARLSX)
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