iMGP Oldfield International Value Fund
The iMGP Oldfield International Value Fund (the "Fund") seeks long-term growth of capital; that is, the increase in the value of your investment over the long term.
- The Fund is a contrarian-value, high active-share, limited-capacity investment vehicle, run by a team with a strong investing pedigree. It follows a highly disciplined investment process executed by seasoned investors who are value-minded and independent thinkers.
- The Team’s contrarian value strategy focuses on bottom-up identification of investment ‘bargains’ - those stocks that the team believes are currently trading at an attractive discount to their intrinsic worth. Intrinsic worth is an intermediate term assessment of the underlying value of a business based on an objective, risk-assessed view of earnings, book value, and free cash flow, among other considerations. Such shares are lowly valued in absolute terms, i.e., they are “cheap”, and relative to their own history. These stocks may attract a skeptical view from investors and commentators which may create low expectations for the stock for the short term and could provide an attractive entry point.
- True bargains are not simply statistically cheap companies – they must be rigorously researched and risk-assessed with the goal of creating an adequate gap between price and estimated intrinsic worth to compensate for risks. The strategy combines fundamental analysis of intrinsic worth with patience to wait until the price of those investments reflects that value, seeking to deliver appealing long-term performance.
- The strategy delivers a highly active but diversified portfolio, driven by a bottom-up investment philosophy, focused on markets other than North America. Asset allocation is purely a result of stock selection, eschewing macro calls or themes, resulting in a portfolio that is clearly distinct from the index.
iMGP Fundsʼ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be viewed here or by calling 1-800-960-0188. Read it carefully before investing.
Diversification does not assure a profit nor protect against loss in a declining market. Mutual fund investing involves risk. Principal loss is possible.
Potential risks include, but are not limited to, market risk, credit risk, liquidity risk, interest rate risk, and management risk. Outcomes depend on the skill of the sub-advisors and advisor and the allocation of assets among them. References to other mutual funds should not be deemed an offer to sell or solicitation of an offer to buy shares of such funds.