The Evermore Global Value Fund seeks to achieve long-term capital appreciation by primarily investing in the equity securities of businesses undergoing some form of strategic change (“special situations”) where there are substantial disconnects between market price and business value, and, where catalysts exist that may narrow these discounts for the benefit of Fund shareholders.
|Investable Universe||Common and preferred stocks, warrants, rights, debt securities, convertible securities, indexed securities, and derivatives.|
|Market Cap Exposure||Full market cap spectrum, bias toward small and mid|
|Number of Positions||Typically 30-40|
|Position Sizing||Target positions between 2-7% of AUM|
|Industry Exposure||Will not exceed 25% of AUM|
|Other Exposures||Less liquid securities <=15% of AUM
Distressed debt securities <=15%
Merger arbitrage securities <=15%
Shorts (non-merger arbitrage) <=10%
|Holding Period||Typically 3-5 years|
Cash may be increased to hedge risk or market exposure
|Minimum Initial Investment||$5,000
($2,000 for IRAs)
|Minimum Subsequent Investment||$100
($100 for IRAs)
as of 12/31/2018
Fees & Expenses
|Distribution and Service (12b-1) Fee||0.25%||none|
|Gross Expense Ratio||1.52%||1.27%|
*As stated in the Fund’s audited annual report, the Ratio of Expenses to Average Net Assets before expenses absorbed or recouped, excluding interest and dividend expense, was 1.49% for the investor class and 1.24% for the institutional class. Gross expense ratio was applicable to investors.
It is not possible to invest directly in an index.