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Name

As of 04/23/2024

Price

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

Polaris Global Value Fund

PGVFX | Fund

$31.93

$417 M

1.63%

$0.52

1.22%

Vitals

YTD Return

4.9%

1 yr return

15.4%

3 Yr Avg Return

1.5%

5 Yr Avg Return

6.7%

Net Assets

$417 M

Holdings in Top 10

16.1%

52 WEEK LOW AND HIGH

$31.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.22%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 19.00%

Redemption Fee 1.00%

Min Investment

Standard (Taxable)

$2,500

IRA

$2,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/23/2024

Price

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

Polaris Global Value Fund

PGVFX | Fund

$31.93

$417 M

1.63%

$0.52

1.22%

PGVFX - Profile

Distributions

  • YTD Total Return 4.9%
  • 3 Yr Annualized Total Return 1.5%
  • 5 Yr Annualized Total Return 6.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.47%
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Polaris Global Value Fund
  • Fund Family Name
    Forum Family
  • Inception Date
    Jul 31, 1989
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bernard Horn

Fund Description

Using a value-oriented approach, the Fund invests primarily in the common stock (including American Depositary Receipts (“ADRs”)) of companies of any size, both domestic and international, including emerging, developing or frontier markets. The Adviser generally views emerging, developing or frontier markets as those

that are not included in the MSCI World Index. The Fund may also invest in publicly traded master limited partnerships (“MLPs”).

The Fund selects investments based on the Adviser’s fundamental research of a company’s financial condition. The Adviser uses traditional valuation measures, including price/book ratios and price/sustainable free cash flow ratios, to select portfolio investments.

Although there is no limit on the amount of Fund assets that may be invested in companies located in any one country, the Fund seeks to achieve broad geographic diversification and typically invests in approximately 15 industries.

Polaris Capital Management, LLC (the “Adviser”) may write covered call options that are designed both to receive option premium proceeds for the Fund while holding securities that are appreciating and to sell such securities when they reach the Adviser’s target sell price. In order to hedge against downside risks in the Fund’s portfolio, the Adviser may also purchase put options that are designed to appreciate if the underlying security declines in value. The Adviser may write put options to execute its strategy, and will seek to buy stocks when the price declines to the Adviser’s target levels. The Adviser also may effectuate a desired hedge by purchasing put or call options on relevant stock index(es) or related exchange-traded funds (“ETFs”).

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PGVFX - Performance

Return Ranking - Trailing

Period PGVFX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% -35.6% 29.2% 4.47%
1 Yr 15.4% 17.3% 252.4% 9.55%
3 Yr 1.5%* -3.5% 34.6% 71.17%
5 Yr 6.7%* 0.1% 32.7% 67.11%
10 Yr 6.6%* -6.9% 18.3% 41.93%

* Annualized

Return Ranking - Calendar

Period PGVFX Return Category Return Low Category Return High Rank in Category (%)
2023 12.9% -24.3% 957.1% 73.64%
2022 -15.0% -38.3% 47.1% 67.76%
2021 10.8% -54.2% 0.6% 55.05%
2020 5.0% -76.0% 54.1% 51.83%
2019 18.4% -26.1% 47.8% 3.35%

Total Return Ranking - Trailing

Period PGVFX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% -35.6% 29.2% 4.47%
1 Yr 15.4% 11.4% 252.4% 8.98%
3 Yr 1.5%* -3.5% 34.6% 68.73%
5 Yr 6.7%* 0.1% 32.7% 65.10%
10 Yr 6.6%* -6.9% 18.3% 40.45%

* Annualized

Total Return Ranking - Calendar

Period PGVFX Return Category Return Low Category Return High Rank in Category (%)
2023 16.6% -24.3% 957.1% 73.64%
2022 -10.7% -33.1% 47.1% 68.39%
2021 16.8% -44.4% 1.8% 69.04%
2020 9.2% -6.5% 54.1% 70.72%
2019 26.8% -14.4% 47.8% 6.38%

NAV & Total Return History

PGVFX - Holdings

Concentration Analysis

PGVFX Category Low Category High PGVFX % Rank
Net Assets 417 M 199 K 133 B 49.45%
Number of Holdings 94 1 9075 34.36%
Net Assets in Top 10 65.9 M -18 M 37.6 B 60.57%
Weighting of Top 10 16.10% 9.1% 100.0% 92.22%

Top 10 Holdings

  1. Publicis Groupe SA 2.02%
  2. Allison Transmission Holdings, Inc. 1.73%
  3. SK Hynix, Inc. 1.65%
  4. Microsoft Corp. 1.56%
  5. Samsung Electronics Co., Ltd. 1.56%
  6. SLM Corp. 1.54%
  7. Williams Cos., Inc. 1.54%
  8. Vinci SA 1.53%
  9. Webster Financial Corp. 1.49%
  10. Next PLC 1.49%

Asset Allocation

Weighting Return Low Return High PGVFX % Rank
Stocks 		100.93% 61.84% 125.47% 51.32%
Cash 		0.92% -174.70% 23.12% 44.05%
Other 		0.01% -13.98% 19.14% 89.54%
Preferred Stocks 		0.00% -0.01% 5.28% 88.55%
Convertible Bonds 		0.00% 0.00% 4.46% 88.00%
Bonds 		0.00% -1.50% 161.67% 88.44%

Stock Sector Breakdown

Weighting Return Low Return High PGVFX % Rank
Financial Services 		23.03% 0.00% 38.42% 14.10%
Consumer Cyclical 		15.21% 0.00% 40.94% 18.50%
Basic Materials 		10.94% 0.00% 38.60% 1.21%
Industrials 		10.85% 0.00% 44.06% 56.61%
Technology 		10.73% 0.00% 49.87% 89.98%
Healthcare 		10.15% 0.00% 35.42% 77.97%
Communication Services 		7.23% 0.00% 57.66% 58.48%
Consumer Defense 		5.54% 0.00% 73.28% 50.00%
Energy 		4.30% 0.00% 21.15% 48.57%
Real Estate 		1.05% 0.00% 39.48% 99.12%
Utilities 		0.97% 0.00% 29.12% 43.39%

Stock Geographic Breakdown

Weighting Return Low Return High PGVFX % Rank
Non US 		53.05% 0.58% 99.46% 5.07%
US 		47.87% 0.13% 103.82% 93.72%

PGVFX - Expenses

Operational Fees

PGVFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.22% 0.01% 44.27% 47.78%
Management Fee 1.00% 0.00% 1.82% 97.70%
12b-1 Fee N/A 0.00% 1.00% 15.75%
Administrative Fee N/A 0.01% 0.76% N/A

Sales Fees

PGVFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PGVFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 2.00% 96.08%

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.

PGVFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 19.00% 0.00% 395.00% 70.76%

PGVFX - Distributions

Dividend Yield Analysis

PGVFX Category Low Category High PGVFX % Rank
Dividend Yield 1.63% 0.00% 3.26% 88.29%

Dividend Distribution Analysis

PGVFX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Annually Annually

Net Income Ratio Analysis

PGVFX Category Low Category High PGVFX % Rank
Net Income Ratio 1.47% -4.27% 12.65% 30.91%

Capital Gain Distribution Analysis

PGVFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

PGVFX - Fund Manager Analysis

Managers

Bernard Horn

Start Date

Tenure

Tenure Rank

Jun 01, 1998

24.01

24.0%

Bernard Horn Jr. is President and Chief Investment Officer since 1998; Founder and Portfolio Manager since 1995; Investment professional since 1980.of Polaris Capital Management, LLC, a Boston-based global and international value equity management firm that serves as the sub-advisor for RBC International Equity. Prior to founding Polaris Capital in 1995, Bernard served as an investment officer for MDT Advisers, Inc. He also worked as a portfolio manager for Freedom Capital Management Corporation. From 1980 to 1990, Bernard was the principal and founder of Horn & Company, an investment counseling firm that specialized in global portfolio management for individuals, trusts and tax-qualified accounts. Bernard began his career in the investment industry in 1980. He received a BS from Northeastern University and a MS in Management from the Massachusetts Institute of Technology. In January 2007, Bernard was named Fund Manager of the year by MarketWatch. He was profiled in the January 2004 issue of SmartMoney Magazine and has been highlighted in Business Week, The New York Times, The Wall Street Journal and other national publications. Bernard has appeared on CNBC, CNNfn and Bloomberg TV to discuss global market trends.

Sumanta Biswas

Start Date

Tenure

Tenure Rank

Dec 31, 2012

9.42

9.4%

Sumanta Biswas, CFA, serves as Polaris Capital Management, LLC’s Vice President and Assistant Portfolio Manager since 2012. Mr. Biswas has been a partner at the Polaris Capital Management since 2007. Mr. Biswas’ professional experience includes completion of an internship at Delta Partners of Boston in 2001 where he served as an equity research analyst. From 1996 through July of 2000, he was an officer of the Securities and Exchange Board of India. In 1995, Mr. Biswas participated in the initial public offering of Electro Steel Casting, Ltd. of India while interning at IFB Finance Ltd. of India. In 1993, he was an engineering project manager trainee with Bridge & Roof Company of Calcutta, India, one of the largest construction companies in India. Mr. Biswas received a master’s of science degree in finance from Boston College in 2001, and an MBA from Calcutta University in India in 1996. He earned his undergraduate degree in engineering from North Bengal University in 1993, and holds a diploma in business finance from the Institute of Chartered Financial Analysts of India. He also holds the Chartered Financial Analyst (CFA) designation.

Bin Xiao

Start Date

Tenure

Tenure Rank

Dec 31, 2012

9.42

9.4%

Bin Xiao has became an Analyst with Polaris since 2006. Mr. Bin was in internship at HSBC Global Investment Banking in 2005, and in internship at Polaris Capital Management in 2004/2005. In 2002 to 2004 Mr. Bin serves as a software architect and project manager at PNC Financial Service Group (PFPC), following positions as an information systems engineer and software engineer at Vanguard Group and RIT Research Corporation respectively.

Jason Crawshaw

Start Date

Tenure

Tenure Rank

May 01, 2018

4.08

4.1%

Jason is a portfolio manager and conducts fundamental analysis of potential investment opportunities. He brings over 20 years of investment industry experience to the firm. His prior professional experience includes portfolio management roles at Liberty Square Asset Management where he managed a France only portfolio and co-managed international long and long/short funds. He has held past portfolio management roles at Brait Specialized Funds and Equinox and equity research positions at Coronation Securities and Firstcorp Merchant Bank. Mr. Crawshaw obtained his master’s in business administration from University of Notre Dame and graduated Magna Cum Laude in 1994. He received his undergraduate degree from Middlebury College in 1992.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 35.82 6.24 1.25

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