Mutual Fund News
December 21, 2022
Below are the per share capital gains using outstanding shares as of 12/20/2022:
Concentrated Value Mutual Fund (NCVLX & NCAVX)
Short Term Capital Gain – $0.07 per share
Long Term Capital Gain – $1.47 per share
Concentrated Value Long Short Mutual Fund (NCLSX & NCLIX)
Short Term Capital Gain – $0.15 per share
Long Term Capital Gain – $0.09 per share
Mid Cap Value Mutual Fund (NMVLX, NMAVX & NMVZX)
Short Term Capital Gain – $0.00 per share
Long Term Capital Gain – $1.06 per shareﾠ
The Ex Date is 12/21/22
How to invest
Nuance has been managing portfolios for individuals and institutions using the same classic value investment philosophy since first registering as an investment advisor in 2008. If you would like to receive material describing our services, please contact us.
Nuance Investments, LLC
4900 Main Street, Suite 220
Kansas City, MO 64112
Telephone: (816) 743-7080
Fax: (913) 387-2729
Nuance Investments
Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and 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. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-855-682-6233.
The Gross Expense Ratio for the Nuance Concentrated Value Fund as of current prospectus is 1.34% for the Investor Class and 1.09% for the Institutional Class. The Net Expense Ratio for the Nuance Concentrated Value Fund as of current prospectus is 1.29% for the Investor Class and 1.04% for the Institutional Class, and is net of contractual fee waivers through 8/28/2023.
The Gross Expense Ratio for the Nuance Mid Cap Value Fund as of current prospectus is 1.22% for the Investor Class, 0.97% for the Institutional Class, and 0.82% for the Z share.ﾠThe Net Expense Ratio for the Nuance Mid Cap Value Fund as of current prospectus is 1.18% for the Investor Class, 0.93% for the Institutional Class, and 0.78% for the Z share, and is net of contractual fee waivers through 8/28/2023.
The Gross Expense Ratio for the Nuance Concentrated Value Long/Short Fund as of current prospectus is 3.57% for the Investor Class and 3.32% for the Institutional Class. The Fund has contractually agreed to reduce its management fees, and may reimburse the Fund for its operating expenses, in order to ensure that Total Annual Fund Operating Expenses (Excluding acquired fund fees and expenses, leverage, interest, dividend and interest expense on short sales, taxes, brokerage commissions, and extraordinary expenses) do not exceed 1.55% of the average daily net assets of the Investor Class and 1.30% of the average daily net assets of the Institutional Class through at least 8/28/2023. The Net Expense Ratio for the Nuance Concentrated Value Long/Short Fund as of current prospectus is 3.58% for the Investor Class, 3.33% for the Institutional Class, and is net of contractual fee waivers through 8/28/2023.
You should consider the fund’s investment objectives, risks, charges and expenses carefully before investing. For a statutory or summary prospectus, that contains this and other information about the Funds, call 1-855-NUANCE3 (855-682-6233) or visit our website at www.nuanceinvestments.com. Please read the prospectus carefully before investing.
Mutual fund investing involves risk. Principal loss is possible. Investments in small and mid-capitalization companies involve additional risk such as limited liquidity and greater volatility than larger capitalization companies. Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods. The Nuance Concentrated Value Fund and Nuance Concentrated Value Long-Short Fund are non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. Short sale of securities involves unlimited risk including the possibility that losses may exceed the original amount invested. However, a mutual fund investor’s risk is limited to one’s amount of investment in a mutual fund.
The Primary Benchmark for the Nuance Concentrated Value Fund is the Russell 3000 Value Index. The Russell 3000® Value Index measures the performance of the 3,000 largest U.S. domiciled companies with lower price-to-book ratios and lower forecasted growth values. The secondary benchmark is the S & P 500 Index. ﾠThe Primary Benchmark for the Nuance Concentrated Value Long/Short Fund is the S&P 500 Index. The S&P 500 Index is a market-value weighted index representing the performance of 500 widely held publicly traded large-capitalization stocks. The Primary Benchmark for the Nuance Mid Cap Value Fund is the Russell Midcap Value Index. The Russell Midcap Value Index measures the performance of the mid-cap value segment of the U.S. equity universe. It includes those Russell Midcap Index companies with lower price-to-book ratios and lower forecasted growth values. The secondary benchmark is the S&P 500 Index. Individuals cannot invest directly in any index. These indices are used for comparison purposes only and are not meant to be indicative of a portfolio’s performance, asset composition, or volatility. The performance of the Fund may differ markedly from that of compared indices due to varying degrees of diversification and/or other facts.
Nuance Investments is the advisor to the Nuance Mid Cap Value Fund, the Nuance Concentrated Value Fund and the Nuance Concentrated Value Long-Short fund which are distributed by Quasar Distributors, LLC.