EIC Value Fund
Name
As of 04/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
4.4%
1 yr return
16.7%
3 Yr Avg Return
9.2%
5 Yr Avg Return
11.7%
Net Assets
$265 M
Holdings in Top 10
41.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.02%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 41.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$100,000
IRA
$100,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
EICIX - Profile
Distributions
- YTD Total Return 4.4%
- 3 Yr Annualized Total Return 9.2%
- 5 Yr Annualized Total Return 11.7%
- Capital Gain Distribution Frequency Semi-Annually
- Net Income Ratio 1.70%
- Dividend Yield 3.7%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameEIC Value Fund
-
Fund Family NameEquity Investment Corp
-
Inception DateApr 29, 2011
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerWilliam Bruner
Fund Description
The Fund, under normal circumstances, primarily invests in common stocks of U.S. companies. The Fund may invest in the stocks of companies of all capitalization sizes.
The Fund invests in companies the Adviser believes are well-managed, structurally sound, and selling at a discount to their value as an ongoing business entity. The Adviser attempts to avoid investing in companies that appear to be inexpensive relative to their historical records, but are actually in long-term structural decline (i.e., “value traps”).
Starting with the Russell 3000® universe, the Adviser attempts to identify companies it believes have strong and stable returns on invested capital (“ROIC”), returns on equity (“ROE”), and, preferably, earnings growth. The Adviser may also identify companies through the use of traditional news sources and non-opinionated research and by monitoring companies with recent and significant price declines. Once a potential candidate is identified, the Adviser determines whether the company is selling at a discount to its value as an ongoing business entity based upon the Adviser’s in-house valuation models, which rely on ROE and earnings growth as key inputs.
After the Adviser identifies a company it believes is selling at a meaningful discount to its value as an ongoing concern, the Adviser employs a comprehensive set of web-based analytics to facilitate financial statement and ratio analysis which helps the Adviser to identify and avoid companies with characteristics that are consistent with potential value traps. The Adviser then performs additional research to gain further insight into accounting policies, factors impacting reported earnings, unusual transactions, attempts to manage earnings, and any other evidence that earnings-power is, or may in the future be, different than what the financial statements currently portray. If a company passes all levels of analysis, then the Adviser may add it to the Fund’s portfolio.
The Adviser sells a position in a company if the Adviser believes the security has reached its full value, the company shows balance sheet stress (indicating potential earnings management, weak financial controls or possible earnings shortfalls), a major change occurs (rendering historical data invalid for determining the value of business ownership) or the Adviser believes the company’s quality or financial strength falls below acceptable levels, or if a more attractive investment opportunity becomes available. Positions reaching 6% of the Fund’s value will be trimmed to reduce exposure.
Up to 20% of the Fund’s net assets may be held in cash, cash equivalents, or short-term investments if the Adviser believes that there are not a sufficient number of currently compelling investment opportunities in which to fully invest the Fund’s assets. While holding a significant position in cash could help the Fund reduce losses during market downturns, it may have the effect of lessening the Fund’s capital appreciation during market upturns.
EICIX - Performance
Return Ranking - Trailing
Period | EICIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.4% | -4.3% | 12.4% | 75.18% |
1 Yr | 16.7% | -8.9% | 32.5% | 42.25% |
3 Yr | 9.2%* | -3.8% | 29.8% | 11.19% |
5 Yr | 11.7%* | -1.6% | 42.9% | 13.02% |
10 Yr | 9.1%* | 1.2% | 24.4% | 32.79% |
* Annualized
Return Ranking - Calendar
Period | EICIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.3% | -24.9% | 46.1% | 34.80% |
2022 | -4.9% | -64.7% | 4.6% | 10.37% |
2021 | 16.8% | -44.2% | 57.5% | 46.88% |
2020 | -1.7% | -23.2% | 285.0% | 60.77% |
2019 | 13.6% | -21.4% | 48.5% | 84.50% |
Total Return Ranking - Trailing
Period | EICIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.4% | -4.3% | 12.4% | 75.18% |
1 Yr | 16.7% | -8.9% | 32.5% | 42.25% |
3 Yr | 9.2%* | -3.8% | 29.8% | 11.19% |
5 Yr | 11.7%* | -1.6% | 42.9% | 13.02% |
10 Yr | 9.1%* | 1.2% | 24.4% | 32.79% |
* Annualized
Total Return Ranking - Calendar
Period | EICIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.9% | -15.9% | 46.7% | 34.80% |
2022 | 0.9% | -42.0% | 8.5% | 5.63% |
2021 | 30.1% | 3.6% | 129.7% | 13.60% |
2020 | 4.3% | -22.6% | 304.8% | 37.35% |
2019 | 22.7% | -12.7% | 52.1% | 81.49% |
NAV & Total Return History
EICIX - Holdings
Concentration Analysis
EICIX | Category Low | Category High | EICIX % Rank | |
---|---|---|---|---|
Net Assets | 265 M | 1.09 M | 163 B | 73.87% |
Number of Holdings | 41 | 2 | 1689 | 86.07% |
Net Assets in Top 10 | 107 M | 420 K | 33.9 B | 65.19% |
Weighting of Top 10 | 41.50% | 4.8% | 99.9% | 12.47% |
Top 10 Holdings
- Dreyfus Institutional Preferred Treasury Securities Money Market Fund 11.97%
- Verizon Communications Inc 4.08%
- ATT Inc 3.92%
- GSK PLC 3.53%
- Wells Fargo Co 3.24%
- Medtronic PLC 3.14%
- Hartford Financial Services Group Inc/The 2.98%
- US Bancorp 2.90%
- Williams Cos Inc/The 2.88%
- Kenvue Inc 2.85%
Asset Allocation
Weighting | Return Low | Return High | EICIX % Rank | |
---|---|---|---|---|
Stocks | 89.12% | 1.86% | 108.42% | 96.43% |
Cash | 11.97% | -0.79% | 38.18% | 1.22% |
Preferred Stocks | 0.00% | 0.00% | 13.88% | 97.65% |
Other | 0.00% | -3.53% | 39.72% | 93.65% |
Convertible Bonds | 0.00% | 0.00% | 3.66% | 97.29% |
Bonds | 0.00% | -0.71% | 73.23% | 97.48% |
Stock Sector Breakdown
Weighting | Return Low | Return High | EICIX % Rank | |
---|---|---|---|---|
Financial Services | 23.64% | 0.00% | 58.05% | 14.29% |
Healthcare | 16.22% | 0.00% | 30.08% | 62.66% |
Communication Services | 15.74% | 0.00% | 26.58% | 2.63% |
Energy | 14.47% | 0.00% | 54.00% | 5.43% |
Consumer Defense | 8.71% | 0.00% | 34.10% | 45.05% |
Industrials | 8.50% | 0.00% | 42.76% | 82.12% |
Real Estate | 3.63% | 0.00% | 90.54% | 37.51% |
Utilities | 3.58% | 0.00% | 27.04% | 63.01% |
Basic Materials | 3.29% | 0.00% | 21.69% | 50.57% |
Technology | 1.12% | 0.00% | 54.02% | 98.25% |
Consumer Cyclical | 1.09% | 0.00% | 22.74% | 97.90% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | EICIX % Rank | |
---|---|---|---|---|
US | 89.12% | 1.86% | 108.42% | 90.86% |
Non US | 0.00% | 0.00% | 27.89% | 98.09% |
EICIX - Expenses
Operational Fees
EICIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.02% | 0.03% | 14.82% | 42.10% |
Management Fee | 0.75% | 0.00% | 1.50% | 88.34% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
EICIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 0.95% | 5.00% | N/A |
Trading Fees
EICIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 1.00% | 2.00% | 66.15% |
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.
EICIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 41.00% | 0.00% | 488.00% | 54.87% |
EICIX - Distributions
Dividend Yield Analysis
EICIX | Category Low | Category High | EICIX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.71% | 0.00% | 38.10% | 35.19% |
Dividend Distribution Analysis
EICIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
EICIX | Category Low | Category High | EICIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.70% | -1.51% | 4.28% | 30.46% |
Capital Gain Distribution Analysis
EICIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Semi-Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 06, 2023 | $0.674 | OrdinaryDividend |
Dec 06, 2019 | $1.073 | OrdinaryDividend |
Dec 10, 2018 | $0.248 | OrdinaryDividend |
Dec 08, 2017 | $0.155 | OrdinaryDividend |
Dec 09, 2016 | $0.146 | OrdinaryDividend |
Dec 10, 2015 | $0.173 | OrdinaryDividend |
Dec 10, 2014 | $0.144 | OrdinaryDividend |
Dec 11, 2013 | $0.126 | OrdinaryDividend |
Dec 07, 2012 | $0.100 | OrdinaryDividend |
Dec 09, 2011 | $0.050 | OrdinaryDividend |
EICIX - Fund Manager Analysis
Managers
William Bruner
Start Date
Tenure
Tenure Rank
Apr 29, 2011
11.1
11.1%
W. Andrew Bruner, CPA, CFA, Principal, joined EIC in 1999 as a portfolio manager and was named Director of Research in 2010. He is a member of the investment team responsible for managing our All-, Large-, and Mid-Cap Value portfolios. From 1992 to 1999, he was involved in accounting assignments for KPMG LLP, primarily in conducting due diligence for mergers and acquisitions. Andrew received a BA degree from the University of the South in Sewanee, Tennessee. He then earned a Master in Professional Accounting degree from the University of Texas at Austin.
Richard Irrgang
Start Date
Tenure
Tenure Rank
Apr 29, 2011
11.1
11.1%
R. Terrence Irrgang, CFA, Principal, joined EIC in 2003 as a portfolio manager. He is part of the investment team responsible for managing our All-, Large-, and Mid-Cap Value portfolios. Previously he was a Global Partner, portfolio manager, and product manager for INVESCO Capital Management. Terry began his career as an investment consultant, working nine years with Mercer Consulting and Towers Perrin, where he assisted plan sponsors with asset allocation, manager selection, and performance monitoring activities. Terry received a BA degree from Gettysburg College, and earned an MBA in Finance from Temple University.
Ian Zabor
Start Date
Tenure
Tenure Rank
Apr 29, 2011
11.1
11.1%
Ian Zabor, CFA, Principal, joined Equity Investment Corporation in 2005 as a research analyst. He was named Portfolio Manager in 2010. Ian is a member of the investment team responsible for managing our All-, Large-, and Mid-Cap Value portfolios. Prior to joining EIC, he held trading, analyst, and portfolio management roles with AG Edwards, the US Small Business Administration, and Wachovia Securities. Ian received a BA in Economics from Indiana University and an MBA from The Darden School of Business, University of Virginia.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.05 | 86.59 | 8.07 | 16.42 |