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Name

As of 11/21/2024

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

Nuance Mid Cap Value Fund

NMVLX | Fund

$13.25

$2.45 B

1.62%

$0.21

0.99%

Vitals

YTD Return

7.4%

1 yr return

16.4%

3 Yr Avg Return

3.4%

5 Yr Avg Return

5.5%

Net Assets

$2.45 B

Holdings in Top 10

50.9%

52 WEEK LOW AND HIGH

$13.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.99%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 76.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$10,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/21/2024

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

Nuance Mid Cap Value Fund

NMVLX | Fund

$13.25

$2.45 B

1.62%

$0.21

0.99%

NMVLX - Profile

Distributions

  • YTD Total Return 7.4%
  • 3 Yr Annualized Total Return 3.4%
  • 5 Yr Annualized Total Return 5.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.79%
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Nuance Mid Cap Value Fund
  • Fund Family Name
    Nuance Investments
  • Inception Date
    Dec 31, 2013
  • Shares Outstanding
    225914774
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Scott 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. Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities issued by mid-capitalization companies. The Adviser defines mid- capitalization companies as companies within the range of the capitalization of companies constituting the Russell Midcap® Index. The Adviser intends to manage the Fund so that the average weighted market capitalization of its portfolio (derived from FactSet and excluding short-term investments) falls within the range of the smallest and largest members of the Russell Midcap® Index, as determined by averaging the smallest and largest members’ month end market capitalization over the last 12 months. As of June 30, 2024, the trailing twelve-month capitalization range of the Russell Midcap® Index was between approximately $602.2 million and $73.0 billion. The Fund’s investments may include preferred or convertible preferred stocks. The Fund typically invests in a portfolio of 50 to 90 companies.
Although the Fund will invest primarily in companies organized or traded in the U.S., the Fund may invest up to 15% 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 will generally be 100% or greater. From time to time, the Fund may focus its investments in securities of companies in the same economic sector.
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NMVLX - Performance

Return Ranking - Trailing

Period NMVLX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.4% 4.4% 33.4% 98.63%
1 Yr 16.4% 14.6% 47.4% 98.90%
3 Yr 3.4%* -1.4% 16.1% 93.04%
5 Yr 5.5%* 1.2% 18.1% 96.88%
10 Yr 8.2%* 1.6% 12.0% 59.02%

* Annualized

Return Ranking - Calendar

Period NMVLX Return Category Return Low Category Return High Rank in Category (%)
2023 4.5% -11.3% 33.3% 78.79%
2022 -13.2% -41.6% 2.3% 45.68%
2021 -1.2% -41.5% 44.9% 93.58%
2020 3.6% -29.0% 22.1% 27.27%
2019 23.2% -8.1% 31.2% 45.16%

Total Return Ranking - Trailing

Period NMVLX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.4% 4.4% 33.4% 98.63%
1 Yr 16.4% 14.6% 47.4% 98.90%
3 Yr 3.4%* -1.4% 16.1% 93.04%
5 Yr 5.5%* 1.2% 18.1% 96.88%
10 Yr 8.2%* 1.6% 12.0% 59.02%

* Annualized

Total Return Ranking - Calendar

Period NMVLX Return Category Return Low Category Return High Rank in Category (%)
2023 6.7% -1.7% 36.5% 93.11%
2022 -4.7% -35.0% 2.4% 18.94%
2021 11.3% 6.2% 48.3% 97.49%
2020 4.6% -22.9% 23.2% 36.65%
2019 31.0% -3.0% 35.7% 10.56%

NAV & Total Return History

NMVLX - Holdings

Concentration Analysis

NMVLX Category Low Category High NMVLX % Rank
Net Assets 2.45 B 991 K 28 B 25.55%
Number of Holdings 53 8 2308 82.14%
Net Assets in Top 10 984 M 319 K 5.52 B 18.68%
Weighting of Top 10 50.92% 4.6% 100.2% 5.77%

Top 10 Holdings

  1. First American Government Obligations Fund 8.58%
  2. DENTSPLY SIRONA Inc 7.02%
  3. Henkel AG Co KGaA 5.55%
  4. Clorox Co/The 5.25%
  5. QIAGEN NV 4.98%
  6. 3M Co 4.57%
  7. United Utilities Group PLC 4.29%
  8. Northern Trust Corp 4.23%
  9. Solventum Corp 3.23%
  10. Henry Schein Inc 3.23%

Asset Allocation

Weighting Return Low Return High NMVLX % Rank
Stocks 		89.44% 56.67% 103.53% 97.25%
Cash 		8.88% 0.00% 38.75% 4.95%
Preferred Stocks 		1.68% 0.00% 1.68% 0.55%
Other 		0.00% -0.10% 7.30% 86.81%
Convertible Bonds 		0.00% 0.00% 0.02% 82.04%
Bonds 		0.00% 0.00% 19.09% 82.14%

Stock Sector Breakdown

Weighting Return Low Return High NMVLX % Rank
Financial Services 		23.67% 0.00% 60.11% 11.33%
Healthcare 		22.57% 0.00% 32.47% 1.66%
Consumer Defense 		21.73% 0.00% 33.79% 1.93%
Utilities 		13.98% 0.00% 24.69% 1.93%
Real Estate 		11.35% 0.00% 40.74% 18.23%
Industrials 		3.57% 0.00% 29.02% 97.79%
Basic Materials 		2.54% 0.00% 23.88% 88.40%
Technology 		0.59% 0.00% 30.07% 98.34%
Energy 		0.00% 0.00% 29.17% 98.07%
Communication Services 		0.00% 0.00% 19.80% 96.69%
Consumer Cyclical 		0.00% 0.00% 29.62% 98.62%

Stock Geographic Breakdown

Weighting Return Low Return High NMVLX % Rank
US 		89.44% 56.67% 103.53% 90.93%
Non US 		0.00% 0.00% 33.85% 85.16%

NMVLX - Expenses

Operational Fees

NMVLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.99% 0.06% 16.92% 52.07%
Management Fee 0.75% 0.00% 1.20% 73.63%
12b-1 Fee 0.00% 0.00% 1.00% 19.27%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

NMVLX 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

NMVLX 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.

NMVLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 76.00% 0.00% 227.00% 81.02%

NMVLX - Distributions

Dividend Yield Analysis

NMVLX Category Low Category High NMVLX % Rank
Dividend Yield 1.62% 0.00% 22.79% 46.83%

Dividend Distribution Analysis

NMVLX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Quarterly

Net Income Ratio Analysis

NMVLX Category Low Category High NMVLX % Rank
Net Income Ratio 0.79% -1.84% 4.73% 48.48%

Capital Gain Distribution Analysis

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

Distributions History

View More +

NMVLX - Fund Manager Analysis

Managers

Scott Moore

Start Date

Tenure

Tenure Rank

Dec 31, 2013

8.42

8.4%

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 8.16 10.92

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