Fund Overview

Share Class

N

NAV | as of 07/12/2024

$19.33
+$0.15 (+0.78%)

Morningstar | Style Box

V B G L M S

Morningstar Rating

Rated against 1,302 Large Blend funds as of 06/30/2024 View Morningstar Details

Growth of $10,000 (Hypothetical)

Since Inception 03/01/2006 to 06/30/2024 = $38,319.14

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.
SEE ALL PERFORMANCE

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 800.548.4539. 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

The Fund seeks long-term capital appreciation.

Why Consider

  • May be appropriate for investors looking to gain exposure to a focused portfolio of U.S. large-cap companies
  • Enlightened risk management—portfolio managers will not average down on losing positions
  • Employs a fundamentals-driven Absolute Value® investment philosophy, targeting a concentrated, large-cap Fund portfolio of securities representing River Road’s “best ideas” within the market capitalization range

Performance

Performance

Read Important Investment Disclosures

Returns

Trailing Returns

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 800.548.4539. 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 shorter than one year are not annualized.

Expense Ratios

  • Gross Expense Ratio: 1.18%
  • Net Expense Ratio: 0.95%
  • Expense Cap Expiration Date: 03/01/2025

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Dec 14, 2023 $0.110100 $0.110100
Dec 15, 2022 $0.250200 $0.250200
Mar 25, 2021 $2.557500 $2.557500
Dec 16, 2019 $0.693400 $0.308400 $0.385000
Sep 26, 2019 $0.000200 $0.000200
Jun 26, 2019 $0.004300 $0.004300
Mar 27, 2019 $0.011600 $0.011600
Dec 27, 2018 $0.505700 $0.091000 $0.414700
Dec 27, 2017 $4.155500 $2.993000 $1.162500
Sep 26, 2017 $0.007800 $0.007800
Jun 27, 2017 $0.006200 $0.006200
Mar 28, 2017 $0.091000 $0.091000
Dec 27, 2016 $0.806700 $0.054700 $0.141100 $0.610900
Sep 27, 2016 $0.034900 $0.034900
Jun 27, 2016 $0.037000 $0.037000
Mar 28, 2016 $0.036300 $0.036300
Dec 28, 2015 $1.622100 $0.037600 $1.584500
Sep 25, 2015 $0.027400 $0.027400
Jun 25, 2015 $0.032900 $0.032900
Mar 26, 2015 $0.075400 $0.075400
Dec 26, 2014 $0.010700 $0.010700
Sep 25, 2014 $0.034200 $0.034200
Jun 25, 2014 $0.034500 $0.034500
Mar 26, 2014 $0.027400 $0.027400
Dec 26, 2013 $0.025300 $0.025300
Sep 25, 2013 $0.033800 $0.033800
Jun 25, 2013 $0.051300 $0.051300
Mar 25, 2013 $0.041700 $0.041700
Dec 26, 2012 $0.060600 $0.060600
Sep 25, 2012 $0.057100 $0.057100
Jun 26, 2012 $0.052300 $0.052300
Mar 27, 2012 $0.056800 $0.056800
Dec 27, 2011 $0.129800 $0.129800
Dec 28, 2010 $0.089100 $0.089100
Dec 28, 2009 $0.112500 $0.112500
Dec 26, 2008 $0.128300 $0.128300
Dec 26, 2007 $1.741100 $0.135000 $0.478000 $1.128100
Dec 26, 2006 $1.672800 $0.157200 $0.676500 $0.839100

Risk & Return Statistics

As of: 06/30/2024

3YR 5YR 10YR
Alpha
Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha.
3.51 2.52 2.70
Standard Deviation
Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance.
15.73 14.88 12.63
Sharpe Ratio
Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance.
0.36 0.43 0.54
Upside Capture Ratio (%)
Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets.
101.98 67.18 59.11
Downside Capture Ratio (%)
Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets.
90.97 83.38 85.67
Beta
Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk.
0.92 0.66 0.68
R-Squared
R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures.
92.59 66.40 68.47
Tracking Error (%)
Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero.
4.45 10.60 8.65
View All Characteristics & Statistics

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 03/31/2024

Nestle SA ADR 6.57%
BJ's Wholesale Club Holdings Inc 6.37%
CRH Plc 6.33%
Berkshire Hathaway Inc, Class B 6.30%
LKQ Corp 5.84%
Fairfax Financial Holdings Ltd 5.52%
Alphabet Inc, Class C 4.75%
Kroger Co 4.68%
UnitedHealth Group Inc 3.91%
Carlisle Cos Inc 3.85%
% in Top 10 Holdings 54.12%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Equity)

As of: 03/31/2024

View Allocation Details

About the Affiliate

About River Road Asset Management

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 More About River Road Asset Management's Approach

FOUNDED

2005

AMG AFFILIATE SINCE

2014

HEADQUARTERS

Louisville, KY

Portfolio Managers

Matt W. Moran, CFA

VICE PRESIDENT, PORTFOLIO MANAGER

Read full bio
Daniel R. Johnson, CFA, CPA

VICE PRESIDENT, PORTFOLIO MANAGER

Read full bio

Investment Approach

Investment Approach

River Road Large Cap Value Select Fund

The Fund invests in a focused portfolio of primarily large-cap equity securities that River Road believes are undervalued. River Road’s investment philosophy is based upon its proprietary Absolute Value® approach, which seeks to generate attractive, sustainable, low volatility returns over the long term, with an emphasis on minimizing downside portfolio risk.

River Road builds the Fund’s portfolio from the bottom up, making security-specific research central to their process.

Stay up-to-date

Sign up to receive our latest views and thinking, in addition to other news and product-related information.

CHOOSE SUBSCRIPTIONS