Investor's Business Daily sits down with Fuller & Thaler Portfolio Manager David Potter, CFA to discuss inflation. Mr. Potter manages the Fuller & Thaler Behavioral Small-Cap value strategy, including its sub advised mutual fund, Undiscovered Managers Behavioral Value Fund (UBVAX)¹, mentioned in the article. Read the article...
"The $7.3 billion Undiscovered Managers Behavioral Value Fund (UBVAX) is part of the elite minority of actively managed U.S. stock funds outperforming the broad market so far this year."
Below are the returns mentioned in the article:
As of 6/30/2022, top 10 holdings in the Undiscovered Managers Behavioral Value Fund's portfolio: Graphic Packaging Holding Co., 4.6; Old National Bancorp, 3.1; First Horizon Corp, 2.9; FNB Corp., 2.8; Berry Global Group, Inc., 2.6; Devon Energy Corp., 2.5; Brink's Co., 2.2; Kemper Corp, 2.1; First Citizens BancShares, Inc., 2.1; White Mountains Insurance Group Ltd., 2.1.
The net and gross expense ratio are 1.24 and 1.34 respectively.
Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. Call 1-800-480-4111 for most recent month-end performance.
The quoted performance of the Fund includes performance of a predecessor fund/share class prior to the Fund's commencement of operations. Please refer to the current prospectus for further information. From the commencement of operations of the Fund's Institutional Class until January 30, 2004, the Fund's investment adviser was Undiscovered Managers, LLC. Effective January 31, 2004, J.P. Morgan Investment Management, Inc. (JPMIM) became the Fund's investment advisor. Fuller & Thaler Asset Management, Inc. serves as the Fund's sub-advisor. The Fund is currently waiving fees. Please note the removal of this waiver would reduce returns.
Contact JPMorgan Distribution Services, Inc. at 1-800-480-4111 for a prospectus. Carefully consider the fund’s objectives, risks, charges and expenses before investing. The prospectus contains this and other fund information. Read it carefully before investing.
The Fund is distributed by JPMorgan Distribution Services, Inc. which is not affiliated with Northern Lights Distributors, LLC. or Fuller & Thaler.
The Russell 2000 Value Index is an unmanaged index, measuring performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values.
The S&P 500 Index features 500 leading U.S. publicly traded companies, with a primary emphasis on market capitalization.
Important Risk Information
Investments in smaller companies may be riskier, less liquid, more volatile and more vulnerable to economic, market and industry changes than investment in larger, more established companies. Changes in the price of debt or equity issued by such companies may be more sudden or erratic than the prices of other securities, especially over the short term.
The thoughts and opinions expressed in the article are solely those of the author as of {month/day/year}. The discussion of individual companies should not be considered a recommendation of such companies by the Fund's investment adviser. The discussion is designed to provide a reader with an understanding of how the Fund's investment adviser manages the Fund's portfolio.
¹Offered by JP Morgan Services, Inc. and sub-advised by Fuller & Thaler. This is the sole mutual fund client in the Small-Cap Value strategy. Fuller & Thaler did not use performance based criteria, it is not known whether the listed client approves or disapproves of Fuller & Thaler or the advisory services provided. : For more information about UBVAX, please visit: https://am.jpmorgan.com/us/en/asset-management/adv/products/undiscovered-managers-behavioral-value-fund-a-904504586
Mutual fund investing involves risk, including loss of principal. There is no guarantee that this, or any, investment strategy will succeed; the strategy is not an indicator of future performance, and investment results may vary. Diversification does not ensure a profit or guarantee against loss. Small- and mid-cap investing involves risks not associated with investing in more established companies, such as greater price volatility, business risk, less liquidity, and increased competitive threat.
**By clicking the link above, you will be redirected to a website maintained by a third party.
FullerThaler is a brand name of Fuller & Thaler Asset Management, Inc.
The Fund’s investment adviser, Fuller & Thaler Asset Management, Inc. (“FullerThaler” or the “Adviser”) has contractually agreed to waive its management fee and/or reimburse Fund expenses so that total annual operating expenses for the FullerThaler Funds are as stated below through January 31, 2025:
FullerThaler Behavioral Small-Cap Growth Fund does not exceed 1.30%, 1.80%, 1.25%, 0.96% and 0.86% for A Shares, C Shares, Investor Shares, Institutional Shares and R6 Shares, respectively.
FullerThaler Behavioral Mid-Cap Value Fund does not exceed 1.20%, 1.70%, 1.15%, 0.79% and 0.69% for A Shares, C Shares, Investor Shares, Institutional Shares and R6 Shares, respectively.
FullerThaler Behavioral Unconstrained Equity Fund does not exceed 1.30%, 1.80%, 0.97% and 0.87% for A Shares, C Shares, Institutional Shares and R6 Shares, respectively.
FullerThaler Behavioral Small-Mid Core Equity Fund does not exceed 1.26%, 0.87% for A Shares and Institutional Shares, respectively.
FullerThaler Behavioral Micro-Cap Equity Fund does not exceed 1.29% for Institutional Shares.
FullerThaler Behavioral Mid-Cap Equity Fund does not exceed 0.79% for Institutional Shares.
FullerThaler Behavioral Small-Cap Equity Fund does not exceed 1.04%,1.64%,1.05%.0.75%.0.64% for A Shares, C Shares, Investor Shares, Institutional Shares, and R6 Shares, respectively.
***No minimum initial investment for certain investors including group retirement plans. The expense limitation does not apply to (i) interest (other than custodial overdraft fees and expenses associated with the Fund’s participation in an alternative liquidity program), (ii) taxes, (iii) brokerage fees and commissions, (iv) other extraordinary expenses not incurred in the ordinary course of the Fund’s business, (v) dividend expense on short sales, and (vi) indirect expenses such as acquired fund fees and expenses incurred by the Fund in any fiscal year.
Gross Expense Ratios
FullerThaler Behavioral Small-Cap Growth Fund does not exceed 1.39%, 2.00%, 1.42%, 1.12% and 0.98% for A Shares, C Shares, Investor Shares, Institutional Shares and R6 Shares, respectively.
FullerThaler Behavioral Mid-Cap Value Fund does not exceed 1.20%, 1.82%, 1.24%, 0.96% and 0.82% for A Shares, C Shares, Investor Shares, Institutional Shares and R6 Shares, respectively.
FullerThaler Behavioral Unconstrained Equity Fund does not exceed 1.73%, 2.32%, 1.42%, 1.23% for A Shares, C Shares, Institutional Shares and R6 Shares, respectively.
FullerThaler Behavioral Small-Mid Core Equity Fund does not exceed 1.56%, 1.29% for A Shares and Institutional Shares, respectively.
FullerThaler Behavioral Micro-Cap Equity Fund does not exceed 2.13% for Institutional Shares.
FullerThaler Behavioral Mid-Cap Equity Fund does not exceed 5.23% for Institutional Shares.
FullerThaler Behavioral Small-Cap Equity Fund does not exceed 1.04%,1.64%,1.05%.0.75%.0.64% for A Shares, C Shares, Investor Shares, Institutional Shares, and R6 Shares, respectively.
Investors should consider the investment objectives, risks, and charges and expenses of a mutual fund carefully before investing. The prospectus contains this and other information about the fund and may be obtained by calling 888-912-4562. The prospectus should be read carefully before investing.
The Russell 2000® Index, Russell 2000® Growth, Russell MidCap® Value, Russell 3000®, Russell Micro-cap®, Russell 2500™, Russell MidCap®, and the S&P 500 Index are widely recognized unmanaged indices of equity securities and are representative of a broader domestic equity market and range of securities than is found in the Fund's portfolio. The Russell 2000® measures the performance of the small cap segment of the US equity universe. The Russell 2000® is a subset of the Russell 3000® Index and represents approximately 10% of total market capitalization of that index. The Russell 2000® Growth Index measures the performance of those Russell 2000 companies with higher price/book ratios and higher forecasted growth values. The Russell MidCap® Value Index measures the performance of those Russell Midcap® companies with lower price/book ratios and lower forecasted growth values. The stocks are also members of the Russell 1000® Value Index . The Russell Microcap® Index measures the performance of the microcap segment of the U.S. equity market. It makes up less than 3% of the U.S. equity market. It includes 1,000 of the smallest securities in the Russell 2000 Index based on a combination of their market cap and current index membership and it also includes up to the next 1,000 stocks. The Russell 3000 Index is a market-capitalization-weighted equity index maintained by the FTSE Russell that provides exposure to the entire U.S. stock market. The index tracks the performance of the 3,000 largest U.S.-traded stocks which represent about 98% of all U.S incorporated equity securities. The Russell 2500™ Index is a broad index, featuring 2,500 stocks that cover the small- and mid-cap market capitalizations. The Russell 2500™ is a market cap-weighted index that includes the smallest 2,500 companies covered in the Russell 3000® universe of United States-based listed equities. The Russell Midcap® Index measures the performance of the mid-cap segment of the US equity universe. The Russell Midcap® Index is a subset of the Russell 1000® Index. It includes approximately 800 of the smallest securities based on a combination of their market cap and current index membership. The Russell Midcap® Index represents approximately 31% of the total market capitalization of the Russell 1000® companies. The Russell Midcap® Index is constructed to provide a comprehensive and unbiased barometer for the mid-cap segment. The Russell Index related marks are owned by FTSE Russell. The Russell Midcap® Index measures the performance of the mid-cap segment of the US equity universe. The Russell Midcap® Index is a subset of the Russell 1000® Index. It includes approximately 800 of the smallest securities based on a combination of their market cap and current index membership. The Russell Midcap® Index represents approximately 31% of the total market capitalization of the Russell 1000® companies. The Russell Midcap® Index is constructed to provide a comprehensive and unbiased barometer for the mid-cap segment.
Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokerage commissions or other expenses of investing. It is not possible to invest directly in the index.
*FullerThaler is the advisor to the following Funds: FullerThaler Behavioral Small-Cap Equity Fund, Fuller Thaler Behavioral Small-Cap Growth Fund, FullerThaler Behavioral Mid-Cap Value Fund, FullerThaler Behavioral Unconstrained Equity Fund, FullerThaler Behavioral Small-Mid Core Equity Fund, FullerThaler Behavioral Micro-Cap Equity Fund, and FullerThaler Behavioral Mid-Cap Equity Fund which are distributed by Ultimus Fund Distributors, LLC. However, FullerThaler is not affiliated with Ultimus Fund Distributors, LLC
The Behavioral Edge® is a registered trademark of Fuller & Thaler Asset Management, Inc.
FullerThaler is the brand name of Fuller & Thaler Asset Management, Inc. This website is directed only to US institutional investors. FullerThaler may only transact its investment advisory business in states where it is notice-filed as an investment adviser or otherwise exempt from state requirements. The information on this website is neither an offer to sell nor a solicitation of an offer to buy any product or service in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful. Nobel Prize® is a trademark of the Nobel Foundation.
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