CRM All Cap Value

Assets Under Management: $19 million as of September 30, 2018

Ticker Inception CUSIP Net Expense Ratio1 Gross Expense Ratio Current Assets Minimum Investment
Institutional CRIEX October 24, 2006 12626X833 1.26% 1.69% $14 million $1,000,000
Investor CRMEX October 24, 2006 12626X841 1.51% 1.94% $5 million $2,500

¹The net expense ratio for the CRM All Cap Value Fund is the ratio listed in the CRM Funds Prospectus, dated October 26, 2018. This figure will fluctuate over time.  This figure will fluctuate over time. CRM has a contractual obligation to waive a portion of fees through November 1, 2019 and to assume certain expenses. This agreement may change or end at any time. Performance would have been lower in the absence of fee waivers and expense reimbursements.

Summary

CRM All Cap Value Fund seeks long-term capital appreciation. The CRM All Cap Value Fund, under normal circumstances, invests at least 80% of its assets in a diversified portfolio of equity and equity related securities of U.S. and non-U.S. companies that are publicly traded on a U.S. securities market. There are no limits on the market capitalizations of companies in which the All Cap Value Fund may invest.

Supported by an experienced team of investment professionals, the portfolio managers make judgments about the relative attractiveness of various securities in selecting stocks for the portfolio. All stocks held in the other products are not held in the All Cap Value Fund, and it falls upon the portfolio managers to decide which holdings are the most attractive in this portfolio. This strategy will typically be invested in 35 to 50 stocks. Although the Fund is built from the bottom up, stock specific risks, sector weightings and risk/reward characteristics are all taken into account in the portfolio construction process.

Top Ten Equity Holdings

As of September 30, 2018

It should not be assumed that the holdings presented have been profitable or will in the future be profitable. Holdings are subject to change at any time without notice.

Danaher Corporation 3.8%
DXC Technology Company3.8%
Microsoft Corporation3.5%
Allergan plc3.5%
United Technologies Corporation3.1%
Air Products & Chemicals, Inc.3.1%
CSX Corporation 3.0%
Bank of America Corporation3.0%
Wells Fargo & Company2.9%
Dover Corporation 2.8%
Total32.5%

Most Recent Funds Distribution-2018 Estimated Distributions

As a shareholder of a Fund, you are entitled to dividends and other distributions arising from net investment income and net realized gains, if any, earned on the investments held by the Funds. Dividends and distributions, if any, are declared and paid annually to you. Each Fund expects to distribute any net realized gains once a year.

Distributions are payable to the shareholders of record at the time the distributions are declared (including holders of shares being redeemed, but excluding holders of shares being purchased). All distributions are reinvested in additional Fund shares unless you have elected to receive the distributions in cash.

Distribution amounts in the table below are preliminary estimates. Please refer to final distribution amounts for tax purposes.

CRM All Cap Value Fund

  • Date of Record: December 12, 2018
  • Ex-Date: December 13, 2018
  • Payment Date: December 14, 2018
Short Term Long Term Ordinary Income Total
Institutional Class $0.2702 $1.2664 $0.0091 $1.5457
Investor Class $0.2702 $1.2664 $0.0091 $1.5457

Performance

As of September 30, 2018

Institutional

Annualized Returns (%)

YearAll Cap ValueRussell 3000 Value IndexRussell 3000 Index
Q3'184.685.397.12
YTD6.824.1710.57
1 Yr12.549.4617.58
3 Yr14.6813.7317.06
5 Yr10.5710.6413.45
10 Yr9.689.7612.00
ICD7.056.668.83

Investor

Annualized Returns (%)

YearAll Cap ValueRussell 3000 Value IndexRussell 3000 Index
Q3'184.655.397.12
YTD6.474.1710.57
1 Yr12.149.4617.58
3 Yr14.4213.7317.06
5 Yr10.3010.6413.45
10 Yr9.429.7612.00
ICD6.786.668.83

The performance above represent past performance, which does not guarantee future results. If you invest in a Fund, your investment return and principal value will fluctuate, so that your shares, when redeemed, may be worth more of less than their original cost. The Fund’s current performance may be lower or higher than the performance above. For most recent month-end performance, please click here.

Shares of CRM Funds are distributed by ALPS Distributors, Inc.

Cramer Rosenthal McGlynn, LLC is the investment advisor to the CRM Funds and is not affiliated with ALPS.

Principal investment risks: The Fund invests in value stocks which can perform differently from the market on whole and may continue to be undervalued for long periods of time. Compared to mutual funds that focus exclusively on large capitalization companies, shares of the Fund may be more volatile because they invest in small, mid and large capitalization companies. Small and mid capitalization companies are likely to have more limited product lines, fewer capital resources and less depth of management than larger companies.

The Funds are subject to risks, which are described in the prospectus. In particular, when compared to mutual funds that focus on larger capitalization companies, shares of the Funds generally are more volatile because of the exposure to smaller and mid capitalization companies, which may have more limited product lines and fewer capital resources. Value-based investments are subject to the risk that the broad market may not recognize their intrinsic values.

The Russell 3000 Index is composed of 3,000 large U.S. companies, as determined by market capitalization. This portfolio of securities represents approximately 98% of the investable U.S. equity market. The Russell 3000 Index is comprised of stocks within the Russell 1000 and the Russell 2000 Indices.  The Russell 3000 Value Index measures the performance of those Russell 3000 Index companies with lower price-to-book ratios and lower forecasted growth values.

 

You should consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. Before making an investment, please download a prospectus containing all the information about the Funds or call 800.276.2883. You should read the prospectus carefully before investing.