Fund Overview
Share Class
N
NAV | as of 07/22/2021
$9.50-$0.10 (-1.04%)
Morningstar | Style Box
Overall Morningstar Rating
Rated against 603 Small Blend funds as of 06/30/2021
View Morningstar Details
Growth of $10,000 (Hypothetical)
Since Inception 03/29/2007 to 06/30/2021 = $30,557.02
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 long-term capital appreciation by investing in a portfolio of small and mid capitalization equity securities.
Why Consider
- May be appropriate for investors looking to gain exposure to U.S. small and mid cap, value-oriented, stocks
- Enlightened risk management—portfolio managers will not average down on losing positions
- Employs a proprietary, fundamentals-driven Absolute Value® investment philosophy, targeting well-managed, financially strong companies that generate predictable and sustainable cash flows and trade at attractive discounts
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: 1.32%
- Net Expense Ratio: 1.32%
- Expense Cap Expiration Date: N/A
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 $0.151200 $0.006900 $0.066400 $0.077900 Dec 27, 2018 $0.542500 — $0.177400 $0.365100 Dec 27, 2017 $1.148000 $0.017200 $0.212700 $0.918100 Dec 27, 2016 $0.590100 $0.009300 $0.009700 $0.571100 Dec 30, 2015 $1.112000 — — $1.112000 Dec 30, 2014 $1.428300 — $0.452200 $0.976100 Dec 30, 2013 $1.511600 $0.016700 $0.206800 $1.288100 Dec 28, 2012 $0.635200 $0.124600 $0.031100 $0.479500 Dec 29, 2011 $2.059200 — $0.084000 $1.975200 Dec 29, 2010 $0.114000 $0.030800 — $0.083200 Dec 29, 2008 $0.011300 $0.011300 — —
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Portfolio & Holdings
Portfolio & Holdings
Top Holdings (Equity)
As of: 06/30/2021
| White Mountains Insurance Group Ltd | 3.95% |
| LKQ Corp | 3.90% |
| Cannae Holdings Inc | 3.58% |
| NCR Corp | 3.49% |
| Air Transport Services Group Inc | 3.39% |
| Avaya Holdings Corp | 3.29% |
| UniFirst Corp | 3.10% |
| Premier Inc, Class A | 3.04% |
| Advance Auto Parts Inc | 2.97% |
| Hostess Brands Inc, Class A | 2.95% |
| % in Top 10 Holdings | 33.66% |
Investment Approach
Investment Approach
River Road Small-Mid Cap Value Fund
Under normal conditions, the Fund invests at least 80% of its assets in small and mid-cap equities deemed out of favor and/or undervalued relative to a company’s prospects for growth or relative to their peers. Target companies will typically have market capitalizations below $1B at the time of purchase; however, firm size can exceed that range based on opportunity set. The Fund's Absolute Value® approach utilizes systematic and dynamic proprietary research to analyze companies based on the following investment criteria:
- Financial strength trading at a discount to assessed valuation
- 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 DetailsFQUAX
River Road Large Cap Value Select Fund
The Fund seeks long-term capital appreciation.
View Fund DetailsALSIX
River Road Long-Short Fund
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.
View Fund DetailsABIZX
River Road Mid Cap Value Fund
The Fund seeks to provide long-term capital appreciation.
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 the boutique advantage helps generate alpha.
Learn More About AMGPerformance Details
River Road Small-Mid Cap Value Fund (ARSMX)
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 Small-Mid Cap Value Fund (ARSMX)
Allocation Details
River Road Small-Mid Cap Value Fund (ARSMX)
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