Yacktman Focused Fund - Security Selection Only  (YFSIX)

Fund Overview

Fund Overview

Share Class

I

  • I

Morningstar | Style Box

V B G L M S

NAV | as of 10/19/2017

$11.21
-$0.08 (-0.71%)

Quarterly Performance (%) |
vs. Benchmark as of 09/30/2017

Fund Inception 01/30/2017

YTD 1YR 3YR 5YR 10YR INCEP.
YFSIX - - - - - 10.30
S&P 500 Index 14.24 18.61 10.81 14.22 7.44 12.02

Expense Ratios

  • Gross Expense Ratio: 1.48%
  • Net Expense Ratio: 1.08%
  • Expense Cap Expiration Date: 05/01/2018

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Objective

The Fund seeks to generate equity-like rates of return over a full market cycle while managing the level of risk.

Why Consider

  • Provides investors exposure to a portfolio of companies which the manager believes are undervalued based on three primary characteristics; good business, shareholder-oriented management and low purchase price
  • May engage in short sales of securities for hedging and investment purposes
  • Subadvised by a seasoned investment team with a track record and reputation for a disciplined investment approach even when unpopular

Performance

Performance

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Returns & Distributions

as of 09/30/2017

Sector Allocation (Equity)

Quarter Ending: 09/30/2017

Top Holdings (Equity)

Quarter Ending: 09/30/2017

Samsung Electronics Co Ltd Preferred 15.58%
Twenty-First Century Fox Inc, Class B 12.12%
Procter & Gamble Co 9.26%
PepsiCo Inc 8.73%
Coca-Cola Co 4.58%
Johnson & Johnson 4.58%
Cisco Systems Inc 4.48%
Oracle Corp 4.45%
Microsoft Corp 4.17%
Avon Products Inc Fixed 8.95% Mar 2043 3.82%
% in Top 10 Holdings 71.77%
View Holding Details Read Important Investment Disclosures

Characteristics & Stats

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Investment Approach

Investment Approach

Yacktman Focused Fund-Security Selection Only

The Fund seeks long-term capital appreciation, and, to a lesser extent, current income. The Fund is non-diversified and mainly invests in common stocks of United States companies of any size, some, but not all of which, pay dividends. Yacktman employs a disciplined investment strategy, buying growth companies at what it believes to be low prices. Yacktman believes this approach combines the best features of "growth" and "value" investing. When they purchase stocks, they generally search for companies they believe to possess one or more of the following three attributes:  

Good Business

  • High market share in principal product and/or service lines
  • A high cash return on tangible assets
  • Relatively low capital requirements allowing a business to generate cash while growing
  • Short customer repurchase cycles and long product cycles
  • Unique franchise characteristics

Shareholder-Oriented Management

Yacktman believes a shareholder-oriented management does not overcompensate itself and wisely allocates the cash the company generates. Yacktman looks for companies that:

  • Reinvest in the business and still have excess cash
  • Make synergistic acquisitions
  • Buy back stock

Low Purchase Price

  • Yacktman looks for a stock that sells for less than what an investor would pay to buy the whole company
  • The stock prices of individual companies can vary significantly over short periods of time, and such price movements are not always correlated with changes in company fundamental performance. Accordingly, Yacktman generally prefers to wait for buying opportunities. Such opportunities do not always occur in correlation with overall market performance trends

 

Additional Fund Highlight

Under normal circumstances, at least 95% of the Fund’s assets will be invested in securities

Keep Calm and Remain Diversified

A short- and long-term review of the power of diversification.
Read Full Perspective

About

About Yacktman Asset Management

Background

Yacktman Asset Management is a boutique investment advisory firm located in Austin, Texas. Since 1992, the firm has navigated multiple market cycles while adhering to a disciplined investment approach led by Stephen Yacktman, Chief Investment Officer. The firm strives to achieve solid risk-adjusted returns over time.

Learn More

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YAFFX

Yacktman Focused Fund

The Fund seeks long-term capital appreciation and, to a lesser extent, current income by primarily investing in common stocks of U.S. companies.

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YACKX

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The Fund seeks long-term capital appreciation and, to a lesser extent, current income by primarily investing in common stocks of U.S. companies.

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YASSX

Yacktman Special Opportunities Fund

The Fund seeks long-term capital appreciation through an intrinsic value-oriented investment approach.

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Founded

1992


Headquarters

Austin, TX


Affiliate Since

2012


AUM

$15.5B

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