At the individual stock level, we search for events that suggest investor misbehavior.
Investors Make Mistakes.
We Look For Them.
There are two kinds of mistakes that produce buying opportunities: over-reaction and under-reaction.
Other investors may over-react to bad news and losses (e.g., panic). Or they may under-react to good news (e.g., not pay attention).
Over-reaction
...to historical, negative information
Under-reaction
...to new, positive information
Mutual Funds
U.S. small-cap blend mutual fund seeks long-term capital appreciation with similar risk levels and characteristics to its benchmark, the Russell 2000® Index.
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Seeks to capitalize on behavioral biases that may cause the market to over-react to old, negative information or under-react to new, positive information.
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Looks for companies with one or both of:
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significant insider buying or stock repurchases (over-reaction)
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large earnings surprises (under-reaction)
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Invests in domestic stocks with market capitalization similar to those included in the Russell 2000® Index
For more info click here
U.S. small-cap growth mutual fund seeks long-term capital appreciation with similar risk levels and characteristics to its benchmark, the Russell 2000® Growth Index.
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Seeks to capitalize on behavioral biases that may cause the market to under-react to new, positive information.
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Looks for companies with:
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large earnings surprises (under-reaction)
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Invests in domestic stocks with market capitalization similar to those in the Russell 2000® Index
For more info click here
U.S. mid-cap value mutual fund seeks long-term capital appreciation with similar risk levels and characteristics to its benchmark, the Russell MidCap® Value Index.
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Seeks to capitalize on behavioral biases that may cause the market to over-react to old, negative information.
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Looks for companies with:
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significant insider buying or stock repurchases (over-reaction)
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Invests in domestic stocks with market capitalization similar to those included in the Russell MidCap® Value Index
For more info click here
U.S. mid-cap value mutual fund seeks long-term capital appreciation with similar risk levels and characteristics to its benchmark, the Russell MidCap® Value Index.
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Seeks to capitalize on behavioral biases that may cause the market to over-react to old, negative information.
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Looks for companies with:
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significant insider buying or stock repurchases (over-reaction)
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Invests in domestic stocks with market capitalization similar to those included in the Russell MidCap® Value Index
For more info click here
U.S. all-cap mutual fund seeks long-term capital appreciation.
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As an “unconstrained” fund, stock selection is driven primarily by long-term capital appreciation potential.
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Seeks to capitalize on behavioral biases that may cause the market to over-react to old, negative information or under-react to new, positive information.
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Looks for companies with:
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significant insider buying or stock repurchases (over-reaction)
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large earnings surprises (under-reaction)
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Invests in domestic stocks with market capitalization similar to those included in the Russell 3000® Index
U.S. micro-cap mutual fund seeks long-term capital appreciation with similar risk levels and characteristics to its benchmark Russell Microcap® Index.
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Microcap stocks are generally less liquid, leading to higher volatility and more room for potential investor error
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Looks for companies with:
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significant insider buying or stock repurchases (over-reaction)
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large earnings surprises (under-reaction)
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Invests in domestic stocks with market capitalization similar to those included in the Russell Microcap® Index
U.S. small-mid core mutual fund seeks long-term capital appreciation with similar risk levels and characteristics to its benchmark, the Russell 2500® Index.
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Seeks to capitalize on behavioral biases that may cause the market to over-react to old, negative information or under-react to new, positive information.
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Looks for companies with:
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significant insider buying or stock repurchases (over-reaction)
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large earnings surprises (under-reaction)
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Invests in domestic stocks with market capitalization similar to those included in the Russell 2500® Index
Collective Investment Trust Funds
Fuller & Thaler Small-Cap Core Equity Collective Trust**
U.S. small-cap blend Collective Investment Trust (CIT) seeks long-term capital appreciation with similar risk levels and characteristics to the Russell 2000® Index.
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Seeks to capitalize on behavioral biases that may cause the market to over-react to old, negative information or under-react to new, positive information.
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Looks for companies with either:
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significant insider buying or stock repurchases (over-reaction)
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large earnings surprises (under-reaction)
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Invests in domestic stocks with market capitalizations similar to those in the Russell 2000® Index
U.S. mid cap blend mutual fund seeks long-term capital appreciation with similar risk levels and characteristics to its benchmark, the Russell Mid-Cap® Index.
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Seeks to capitalize on behavioral biases that may cause the market to over-react to historical, negative information or under-react to new, positive information.
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Looks for companies with one or both of:
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significant insider buying or stock repurchases (over-reaction)
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large earnings surprises (under-reaction)
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Invests in domestic stocks with market capitalization similar to those included in the Russell Mid-Cap® Index
Sub-Advised Mutual Funds
Offered by JPMorgan Distribution Services, Inc.
The list includes the mutual fund and CIT clients of FullerThaler. FullerThaler did not use performance based criteria to determine which clients to include on the list. It is not known whether the listed clients approve or disapprove of Fuller & Thaler or the advisory services provided.
*Fuller & Thaler Asset Management is the advisor to the following funds: FullerThaler Behavioral Small-Cap Equity Fund, the FullerThaler Behavioral Small-Cap Growth Fund, the FullerThaler Behavioral Mid-Cap Value Fund, the FullerThaler Behavioral Unconstrained Equity Fund, the Fuller Thaler Behavioral Small-Mid Core Equity Fund, the FullerThaler Behavioral Micro-Cap Equity Fund, and the FullerThaler Behavioral Mid-Cap Equity Fund which are distributed by Ultimus Fund Distributors, LLC.
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.
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 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.
**The Fuller & Thaler Small-Cap Core Equity Collective Investment Trust is a collective investment fund sponsored by Comerica Bank & Trust, N.A. and sub-advised by Fuller & Thaler Asset Management, Inc.