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Name

As of 04/18/2024

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

iMGP SBH Focused Small Value Fund

PFSVX | Fund

$14.73

$51.8 M

0.00%

1.68%

Vitals

YTD Return

-1.1%

1 yr return

14.1%

3 Yr Avg Return

-0.1%

5 Yr Avg Return

N/A

Net Assets

$51.8 M

Holdings in Top 10

31.0%

52 WEEK LOW AND HIGH

$14.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.68%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 45.15%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$10,000

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/18/2024

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

iMGP SBH Focused Small Value Fund

PFSVX | Fund

$14.73

$51.8 M

0.00%

1.68%

PFSVX - Profile

Distributions

  • YTD Total Return -1.1%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.04%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    iMGP SBH Focused Small Value Fund
  • Fund Family Name
    IMGP Funds
  • Inception Date
    Jul 31, 2020
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Shaun Nicholson

Fund Description

The SBH Focused Small Value Fund invests in the securities of smaller companies that the sub-advisor to the Fund (the “manager” or “sub-advisor”) believes have strong appreciation potential. The Advisor believes that giving highly disciplined managers latitude in the types of stocks they can own can confer an advantage over managers who are more tightly constrained to an arbitrary “style box.” This belief underlays the premise of the SBH Focused Small Value Fund to give its sub-advisor broad flexibility but limit the sub-advisor to its highest-conviction ideas. The Advisor is responsible for recommending which sub-advisors to hire or remove. Before hiring a sub-advisor, the Advisor performs extensive due diligence. This includes quantitative and qualitative analysis, including (but not limited to) an evaluation of the investment process, the consistency of its execution and discipline; individual holdings; strategies employed, past mistakes, risk controls, team depth and quality; operations and compliance; and business focus and vision. The Advisor’s evaluation process includes review of literature and documents, quantitative historical performance evaluation, extensive discussions with members of the investment team and firm management and background checks through industry contacts.
Under normal market conditions, the SBH Focused Small Value Fund’s portfolio is typically composed of between 20 and 40 stocks. Under normal market conditions, the SBH Focused Small Value Fund invests at least 80% of its net assets, in securities of small-sized U.S. value companies, as measured by market capitalization at the time of acquisition. The SBH Focused Small Value Fund may focus its investments in certain sectors – including, but not limited to, the financial and industrial sectors –from time to time as a result of the implementation of the SBH Focused Small Value Fund’s investment strategy by the manager.
The manager may invest up to 15% of the SBH Focused Small Value Fund’s net assets in the securities of foreign companies, including those located in emerging markets. iM Global defines an emerging market country as any country that is included in the MSCI Emerging Markets Index.
By executing its investment strategy, the SBH Focused Small Value Fund seeks to:
• leverage the efforts of an experienced, high quality manager; 
• access the highest conviction stock-picking ideas of the manager at any point in time; and 
• deliver a portfolio that is prudently diversified in terms of stocks (typically 20 to 40) and industries while still allowing the manager to focus on only its highest conviction stocks. 
iM Global defines a “small company” as one whose market capitalization falls below the market capitalization of the largest company in the MSCI USA Small Cap Value Index, which, as of March 31, 2023, was $11.1 billion. The MSCI USA Small Cap Value Index captures small cap securities exhibiting overall value style characteristics across the US equity markets. The companies in the MSCI USA Small Cap Value Index had market capitalizations averaging $1.6 billion as of 3/31/23. The value investment style characteristics for index construction are defined using three variables: book value to price, 12-month forward earnings to price and dividend yield. Value stocks are those that are believed to be undervalued in comparison to their peers due to adverse business developments or other factors. Value companies include, but are not limited to, those companies in the Index. 
Generally, a security may be sold: (1) if the manager believes the security’s market price exceeds the manager’s estimate of intrinsic value; (2) if the manager’s view of the business fundamentals or management of the underlying company changes; (3) if a more attractive investment opportunity is found; (4) if general market conditions trigger a change in the manager’s assessment criteria; or (5) for other portfolio management reasons. The SBH Focused Small Value Fund’s investment manager may trade its portfolio frequently. 
Read More

PFSVX - Performance

Return Ranking - Trailing

Period PFSVX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.1% -13.8% 6.6% 23.50%
1 Yr 14.1% -5.6% 30.6% 25.28%
3 Yr -0.1%* -14.1% 66.2% 80.23%
5 Yr N/A* -4.5% 46.9% N/A
10 Yr N/A* -3.9% 25.9% N/A

* Annualized

Return Ranking - Calendar

Period PFSVX Return Category Return Low Category Return High Rank in Category (%)
2023 15.7% -18.4% 33.6% 23.40%
2022 -13.4% -36.7% 212.9% 29.05%
2021 16.9% -62.0% 147.6% 57.54%
2020 N/A -24.8% 31.3% N/A
2019 N/A -30.1% 34.0% N/A

Total Return Ranking - Trailing

Period PFSVX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.1% -13.8% 6.6% 23.50%
1 Yr 14.1% -5.6% 30.6% 25.28%
3 Yr -0.1%* -14.1% 66.2% 80.23%
5 Yr N/A* -4.5% 46.9% N/A
10 Yr N/A* -3.9% 25.9% N/A

* Annualized

Total Return Ranking - Calendar

Period PFSVX Return Category Return Low Category Return High Rank in Category (%)
2023 15.7% -15.5% 35.4% 50.77%
2022 -13.4% -36.7% 250.0% 69.37%
2021 19.7% -3.2% 157.9% 96.29%
2020 N/A -13.5% 33.4% N/A
2019 N/A -17.4% 34.3% N/A

NAV & Total Return History

PFSVX - Holdings

Concentration Analysis

PFSVX Category Low Category High PFSVX % Rank
Net Assets 51.8 M 2.13 M 52.9 B 86.87%
Number of Holdings 42 10 1578 93.22%
Net Assets in Top 10 16.1 M 180 K 3.01 B 82.93%
Weighting of Top 10 30.99% 0.3% 88.4% 20.61%

Top 10 Holdings

  1. AZZ Inc 3.42%
  2. Modine Manufacturing Co 3.36%
  3. REV Group Inc 3.15%
  4. Element Solutions Inc 3.11%
  5. SP Plus Corp 3.11%
  6. Chord Energy Corp 3.05%
  7. SPX Technologies Inc 3.05%
  8. STAG Industrial Inc 3.00%
  9. SouthState Corp 2.87%
  10. Summit Materials Inc 2.86%

Asset Allocation

Weighting Return Low Return High PFSVX % Rank
Stocks 		101.81% 0.99% 104.11% 0.66%
Preferred Stocks 		0.00% 0.00% 2.62% 80.31%
Other 		0.00% -1.78% 40.01% 80.53%
Convertible Bonds 		0.00% 0.00% 2.63% 78.94%
Cash 		0.00% 0.00% 99.01% 99.12%
Bonds 		0.00% 0.00% 73.18% 79.65%

Stock Sector Breakdown

Weighting Return Low Return High PFSVX % Rank
Industrials 		34.87% 0.65% 48.61% 2.46%
Financial Services 		14.26% 0.00% 35.71% 88.14%
Technology 		14.20% 0.00% 34.03% 9.17%
Consumer Cyclical 		9.88% 0.00% 51.62% 65.77%
Basic Materials 		9.11% 0.00% 67.30% 9.62%
Consumer Defense 		7.86% 0.00% 13.22% 8.95%
Healthcare 		4.78% 0.00% 25.76% 68.01%
Real Estate 		2.78% 0.00% 44.41% 83.00%
Energy 		2.26% 0.00% 29.42% 92.17%
Utilities 		0.00% 0.00% 13.86% 94.63%
Communication Services 		0.00% 0.00% 24.90% 97.54%

Stock Geographic Breakdown

Weighting Return Low Return High PFSVX % Rank
US 		101.81% 0.96% 104.11% 0.66%
Non US 		0.00% 0.00% 67.90% 84.68%

PFSVX - Expenses

Operational Fees

PFSVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.68% 0.05% 37.04% 20.35%
Management Fee 1.00% 0.00% 1.50% 92.32%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.35% N/A

Sales Fees

PFSVX 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

PFSVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

PFSVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 45.15% 7.00% 252.00% 41.85%

PFSVX - Distributions

Dividend Yield Analysis

PFSVX Category Low Category High PFSVX % Rank
Dividend Yield 0.00% 0.00% 14.65% 98.91%

Dividend Distribution Analysis

PFSVX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Annual Annual

Net Income Ratio Analysis

PFSVX Category Low Category High PFSVX % Rank
Net Income Ratio -0.04% -1.43% 4.13% 79.64%

Capital Gain Distribution Analysis

PFSVX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

PFSVX - Fund Manager Analysis

Managers

Shaun Nicholson

Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

Shaun Nicholson is a Principal and Senior Portfolio Manager for Segall Bryant & Hamill's Small Cap strategies. He is the lead Portfolio Manager for our Small Cap Value Concentrated strategy and the Co-Portfolio Manager for our Small Cap Value strategy. Mr. Nicholson is responsible for research related to materials, autos/transports, industrials, regional banks and energy within the respective portfolios. He joined SBH in 2011 after having spent more than six years at Kennedy Capital Management. Prior to Kennedy, Mr. Nicholson's experience was as an Associate Portfolio Manager at U.S. Bancorp Asset Management and as a Financial Analyst at The Boeing Company. Mr. Nicholson earned a B.S. from Seton Hall University and earned an MBA from the University of Missouri-St. Louis. He has been in the investment industry since 2002.

Jeremy DeGroot

Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

Jeremy DeGroot, CFA MA, Principal, Chief Investment Officer Jeremy joined Litman Gregory in 1999 and became a principal in 2003. He is responsible for overseeing the firm's manager due diligence, asset class research, and portfolio allocation decisions. Jeremy is also Portfolio Manager of the Litman Gregory Masters Alternative Strategies Fund and Co-Portfolio Manager of the Litman Gregory Masters Equity, International, and Smaller Companies funds. He is frequently quoted in the national media in the areas of asset allocation and manager selection. Jeremy holds the Chartered Financial Analyst® (CFA®) designation. Prior to joining Litman Gregory, Jeremy was an Economic Consulting Services Manager with KPMG Peat Marwick and was a Senior Economist with the Law & Economics Consulting Group. Jeremy is a graduate of University of Wisconsin - Madison (BS - Economics) and University of California - Berkeley (MA - Economics).

Mark Dickherber

Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

Mark Dickherber is a Principal and Director of Segall Bryant & Hamill's Small Cap strategies. He is the lead Portfolio Manager for our Small Cap Value strategy and the Co-Portfolio Manager for our Small Cap Core and Small Cap Value Concentrated strategies. He is also responsible for equity research in the Small Cap and Small/Mid Core equity portfolios. Mr. Dickherber is a specialist in the healthcare sector. Prior to joining SBH, Mr. Dickherber served as Director of Research for Kennedy Capital Management, where he had worked since 1996. Mr. Dickherber graduated magna cum laude from the University of Missouri-St. Louis with a B.S. in Accounting. He served as Treasurer for the CFA Society of St. Louis from 2004-2006 and as a Director from 2006-2008. Mr. Dickherber has been in the investment industry since 1996 and has earned Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations.

Jack Chee

Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

Jack Chee Principal, Senior Research Analyst and Co-PortfolioManager Jack joined Litman Gregory in 2000 and became a principal in 2011. He is Co-Portfolio Manager of the Litman Gregory Masters Equity Fund, High Income Alternatives Fund, and Smaller Companies Fund. Jack's research responsibilities include asset-class analysis on the majority of fixed-income markets as well as the equity REIT market. He is also responsible for selecting and monitoring equity, fixed-income, and REIT money managers. His analysis appears regularly on AdvisorIntelligence. Prior to joining Litman Gregory, Jack was an analyst with Value Line Mutual Fund Survey. Jack is a graduate of Drexel University (BS - Mechanical Engineering).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 37.45 8.15 3.58

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