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Nuance Concentrated Value Fund
mutual fund
NCVLX
Payout Change
Pending
Price as of:
$13.71
+0.06
+0.44%
primary theme
U.S. Mid-Cap Value Equity
share class
NCVLX (Mutual Fund)
Nuance Concentrated Value Fund
Payout Change
Pending
Price as of:
$13.71
+0.06
+0.44%
primary theme
U.S. Mid-Cap Value Equity
share class
NCVLX (Mutual Fund)
Nuance Concentrated Value Fund
Payout Change
Pending
Price as of:
$13.71
+0.06
+0.44%
primary theme
U.S. Mid-Cap Value Equity
share class
Name
As of 12/11/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
11.3%
1 yr return
16.8%
3 Yr Avg Return
6.0%
5 Yr Avg Return
5.9%
Net Assets
$195 M
Holdings in Top 10
66.9%
52 WEEK LOW AND HIGH
$13.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.13%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 87.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$10,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
NCVLX - Profile
Distributions
- YTD Total Return 11.3%
- 3 Yr Annualized Total Return 6.0%
- 5 Yr Annualized Total Return 5.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.46%
- Dividend Yield 0.9%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameNuance Concentrated Value Fund
-
Fund Family NameNuance Investments
-
Inception DateMay 31, 2011
-
Shares Outstanding29167571
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerScott Moore
Fund Description
The Fund invests primarily in equity securities of companies that Nuance Investments, LLC (the “Adviser”) believes are high quality, though temporarily out of favor. The Fund typically invests in a portfolio of 15 to 35 companies of various market capitalizations and is considered an all-cap strategy. Although the Fund will invest primarily in companies organized or traded in the U.S., the Fund may invest up to 25% of its assets in non-U.S. companies in countries that are classified as “developed” by MSCI Inc. (“MSCI”). Nuance utilizes FactSet's country assignments for individual companies. As of the date of this prospectus, the following countries were classified as “developed” by MSCI: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, United Kingdom, and the United States.
The Adviser selects securities for the Fund’s investment portfolio by using an extensive quantitative screening and fundamental research process that aims to identify leading businesses selling at a discount to fair value with the potential to generate above-average rates of returns over time. The Adviser seeks to identify companies across a range of industries and market sectors that have leading and sustainable market share positions, above-average financial strength, and are trading at a discount to the Adviser’s internal view of intrinsic value. The Adviser may sell an investment when it achieves or surpasses the Adviser’s proprietary view of intrinsic value or when a security’s competitive position or financial situation erodes beyond the Adviser’s expectations. The Fund’s annual portfolio turnover rate may be 100% or greater. From time to time, the Fund may focus its investments in securities of companies in the same economic sector.
The Fund is “non-diversified,” meaning that a relatively high percentage of its assets may be invested in a limited number of issuers of securities.
NCVLX - Performance
Return Ranking - Trailing
| Period | NCVLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.3% | 4.1% | 35.1% | 90.00% |
| 1 Yr | 16.8% | 8.6% | 42.4% | 89.44% |
| 3 Yr | 6.0%* | -0.9% | 16.9% | 71.55% |
| 5 Yr | 5.9%* | 0.8% | 18.2% | 95.98% |
| 10 Yr | 7.9%* | 1.9% | 12.1% | 74.14% |
* Annualized
Return Ranking - Calendar
| Period | NCVLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.9% | -11.3% | 33.3% | 58.06% |
| 2022 | -16.5% | -41.6% | 2.3% | 69.66% |
| 2021 | -6.7% | -41.5% | 44.9% | 99.15% |
| 2020 | 2.3% | -29.0% | 22.1% | 40.97% |
| 2019 | 18.2% | -8.1% | 31.2% | 75.15% |
Total Return Ranking - Trailing
| Period | NCVLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.3% | 4.1% | 35.1% | 90.00% |
| 1 Yr | 16.8% | 8.6% | 42.4% | 89.44% |
| 3 Yr | 6.0%* | -0.9% | 16.9% | 71.55% |
| 5 Yr | 5.9%* | 0.8% | 18.2% | 95.98% |
| 10 Yr | 7.9%* | 1.9% | 12.1% | 74.14% |
* Annualized
Total Return Ranking - Calendar
| Period | NCVLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.0% | -1.7% | 36.5% | 78.06% |
| 2022 | -4.9% | -35.0% | 2.4% | 20.51% |
| 2021 | 9.7% | 6.2% | 48.3% | 98.03% |
| 2020 | 3.1% | -22.9% | 23.2% | 47.56% |
| 2019 | 27.7% | -3.0% | 35.7% | 43.20% |
NAV & Total Return History
NCVLX - Holdings
Concentration Analysis
| NCVLX | Category Low | Category High | NCVLX % Rank | |
|---|---|---|---|---|
| Net Assets | 195 M | 991 K | 28 B | 77.84% |
| Number of Holdings | 32 | 8 | 2308 | 96.95% |
| Net Assets in Top 10 | 124 M | 349 K | 5.52 B | 62.05% |
| Weighting of Top 10 | 66.92% | 4.6% | 100.2% | 1.39% |
Top 10 Holdings
- DENTSPLY SIRONA Inc 9.72%
- Henkel AG Co KGaA 8.95%
- First American Government Obligations Fund 8.11%
- Clorox Co/The 7.68%
- QIAGEN NV 7.49%
- United Utilities Group PLC 7.01%
- 3M Co 5.65%
- Northern Trust Corp 4.54%
- Henry Schein Inc 4.29%
- Solventum Corp 3.49%
Asset Allocation
| Weighting | Return Low | Return High | NCVLX % Rank | |
|---|---|---|---|---|
| Stocks | 97.62% | 55.64% | 103.53% | 72.02% |
| Cash | 8.11% | 0.00% | 27.43% | 4.43% |
| Preferred Stocks | 0.00% | 0.00% | 1.68% | 61.50% |
| Other | 0.00% | 0.00% | 7.98% | 78.39% |
| Convertible Bonds | 0.00% | 0.00% | 0.02% | 59.05% |
| Bonds | 0.00% | 0.00% | 19.09% | 60.94% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | NCVLX % Rank | |
|---|---|---|---|---|
| Consumer Defense | 33.79% | 0.00% | 33.79% | 0.56% |
| Healthcare | 32.47% | 0.00% | 32.47% | 0.56% |
| Financial Services | 14.31% | 0.00% | 60.11% | 86.63% |
| Utilities | 8.40% | 0.00% | 24.69% | 24.23% |
| Real Estate | 6.53% | 0.00% | 40.74% | 66.85% |
| Basic Materials | 2.89% | 0.00% | 23.88% | 80.22% |
| Industrials | 1.61% | 0.00% | 29.02% | 99.16% |
| Technology | 0.00% | 0.00% | 30.07% | 100.00% |
| Energy | 0.00% | 0.00% | 29.17% | 98.89% |
| Communication Services | 0.00% | 0.00% | 19.80% | 94.99% |
| Consumer Cyclical | 0.00% | 0.00% | 29.62% | 99.44% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | NCVLX % Rank | |
|---|---|---|---|---|
| US | 97.62% | 55.64% | 103.53% | 59.56% |
| Non US | 0.00% | 0.00% | 33.85% | 68.98% |
NCVLX - Expenses
Operational Fees
| NCVLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.13% | 0.06% | 16.92% | 41.67% |
| Management Fee | 0.85% | 0.00% | 1.20% | 88.92% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 15.87% |
| Administrative Fee | N/A | 0.01% | 0.40% | 58.84% |
Sales Fees
| NCVLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| NCVLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| NCVLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 87.00% | 0.00% | 227.00% | 90.27% |
NCVLX - Distributions
Dividend Yield Analysis
| NCVLX | Category Low | Category High | NCVLX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.91% | 0.00% | 22.79% | 47.50% |
Dividend Distribution Analysis
| NCVLX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| NCVLX | Category Low | Category High | NCVLX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.46% | -1.84% | 4.73% | 71.23% |
Capital Gain Distribution Analysis
| NCVLX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 27, 2024 | $0.031 | OrdinaryDividend |
| Mar 28, 2024 | $0.038 | OrdinaryDividend |
| Sep 28, 2023 | $0.051 | OrdinaryDividend |
| Jun 29, 2023 | $0.128 | OrdinaryDividend |
| Mar 30, 2023 | $0.048 | OrdinaryDividend |
| Dec 21, 2022 | $1.541 | OrdinaryDividend |
| Sep 29, 2022 | $0.032 | OrdinaryDividend |
| Jun 29, 2022 | $0.041 | OrdinaryDividend |
| Dec 21, 2021 | $2.279 | OrdinaryDividend |
| Sep 29, 2021 | $0.071 | OrdinaryDividend |
| Jun 29, 2021 | $0.040 | OrdinaryDividend |
| Dec 21, 2020 | $0.028 | OrdinaryDividend |
| Sep 29, 2020 | $0.017 | OrdinaryDividend |
| Jun 29, 2020 | $0.050 | OrdinaryDividend |
| Dec 20, 2019 | $0.078 | OrdinaryDividend |
| Dec 20, 2019 | $0.451 | CapitalGainShortTerm |
| Dec 20, 2019 | $0.544 | CapitalGainLongTerm |
| Jun 26, 2019 | $0.087 | OrdinaryDividend |
| Dec 20, 2018 | $0.075 | OrdinaryDividend |
| Dec 20, 2018 | $0.532 | CapitalGainShortTerm |
| Dec 20, 2018 | $0.965 | CapitalGainLongTerm |
| Sep 27, 2018 | $0.029 | OrdinaryDividend |
| Jun 28, 2018 | $0.033 | OrdinaryDividend |
| Mar 28, 2018 | $0.020 | OrdinaryDividend |
| Dec 21, 2017 | $0.013 | OrdinaryDividend |
| Dec 21, 2017 | $0.725 | CapitalGainShortTerm |
| Dec 21, 2017 | $0.221 | CapitalGainLongTerm |
| Sep 28, 2017 | $0.023 | OrdinaryDividend |
| Jun 29, 2017 | $0.020 | OrdinaryDividend |
| Mar 30, 2017 | $0.028 | OrdinaryDividend |
| Dec 22, 2016 | $0.012 | OrdinaryDividend |
| Dec 22, 2016 | $0.015 | CapitalGainShortTerm |
| Sep 29, 2016 | $0.037 | OrdinaryDividend |
| Jun 29, 2016 | $0.031 | OrdinaryDividend |
| Mar 30, 2016 | $0.041 | OrdinaryDividend |
| Dec 23, 2015 | $0.064 | OrdinaryDividend |
| Dec 23, 2015 | $0.295 | CapitalGainShortTerm |
| Dec 23, 2015 | $0.193 | CapitalGainLongTerm |
| Sep 29, 2015 | $0.058 | OrdinaryDividend |
| Jun 29, 2015 | $0.034 | OrdinaryDividend |
| Mar 30, 2015 | $0.035 | OrdinaryDividend |
| Dec 23, 2014 | $0.058 | OrdinaryDividend |
| Dec 23, 2014 | $0.801 | CapitalGainShortTerm |
| Dec 23, 2014 | $0.143 | CapitalGainLongTerm |
| Sep 29, 2014 | $0.028 | OrdinaryDividend |
| Jun 27, 2014 | $0.022 | OrdinaryDividend |
| Mar 28, 2014 | $0.014 | OrdinaryDividend |
| Dec 27, 2013 | $0.921 | CapitalGainShortTerm |
| Dec 27, 2013 | $0.241 | CapitalGainLongTerm |
| Dec 27, 2013 | $0.072 | OrdinaryDividend |
| Dec 27, 2012 | $0.184 | CapitalGainShortTerm |
| Dec 27, 2012 | $0.209 | OrdinaryDividend |
| Dec 28, 2011 | $0.067 | OrdinaryDividend |
NCVLX - Fund Manager Analysis
Managers
Scott Moore
Start Date
Tenure
Tenure Rank
May 31, 2011
11.01
11.0%
Scott Moore is the President and Co-Chief Investment Officer of Nuance and is a co-owner of the firm. He founded the firm in November, 2008 and is also the Lead Portfolio Manager for Nuance Concentrated Value and Nuance Mid Cap Value. Scott has more than 30 years of investment experience, more than 28 years of value investment analyst experience and more than 22 years of portfolio management experience using a classic value approach. For the decade before co-founding Nuance, Scott managed more than $10 billion in institutional, intermediary and mutual fund assets for American Century Investments (ACI). Prior to becoming a Portfolio Manager, he spent three years as an Investment Analyst at ACI, specializing in the telecommunications, utility and industrial sectors. He also worked as an Investment Analyst at Boatmen's Trust Company in St. Louis, Missouri, and at ACI as a Fixed Income Investment Analyst. Scott holds a Bachelor of Science (BS) in finance from Southern Illinois University, and a Master of Business Administration (MBA) with an emphasis in finance from the University of Missouri. He is a CFA ® charterholder. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Chad Baumler
Start Date
Tenure
Tenure Rank
Jun 30, 2014
7.92
7.9%
Chad Baumler is the Vice President and Co-Chief Investment Officer of Nuance and is a co-owner of the firm. Chad is the Co-Portfolio Manager for Nuance Concentrated Value and Nuance Mid Cap Value, and he is the lead Portfolio Manager on the Nuance Concentrated Value Long Short. Chad also focuses his analytical skills on the energy, financial and real estate sectors. He has over 14 years of investment analyst experience and 9 years of portfolio management experience using a classic value approach.ﾠ Before joining Nuance, Chad was a Portfolio Manager for American Century Investments (ACI) where he co-managed the American Century Value fund and the American Century Market Neutral Value Fund. Prior to becoming a Portfolio Manager at ACI, he spent six years as an Investment Analyst specializing in the energy and finance sectors. Chad also has experience working in the commercial real estate industry at CB Richard Ellis, Inc. in Kansas City, Missouri.ﾠ Chad graduated from the University of Northern Iowa with a Bachelor of Arts (BA) in finance. He has a Master of Business Administration (MBA) with a concentration in finance from the University of Texas, McCombs School of Business. He is a CFA ® charterholder and a member of the CFA institute.ﾠ CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Darren Schryer
Start Date
Tenure
Tenure Rank
Jan 31, 2020
2.33
2.3%
Darren is an Associate Portfolio Manager with Nuance. He also focuses his analytical skills on the healthcare, communication services, and information technology sectors. Before joining Nuance in 2016, Darren was a Managing Director and Portfolio Manager for the MBA Investment Fund at the University of Texas, McCombs School of Business. Darren also spent three years as a Financial Advisor with Bluestone Financial Advisors in Bethesda, Maryland. Prior to working for Bluestone, he was as an Audit & Tax Associate for the Reznick Group. Darren holds Bachelor of Science (BS) degrees in both Finance and Accounting from the University of Maryland and a Master of Business Administration (MBA) degree with a concentration in Investment Management from the University of Texas, McCombs School of Business. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.59 | 8.15 | 10.92 |
