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Our Difference: The Meritage Value Equity Fund

Our multivariate approach to valuation expands the "value" universe beyond that used by many traditional value managers, enabling ownership of attractive investments which may be absent from other value strategies.

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Overview
  • Seeks long-term growth of capital with income as a secondary objective.
  • Distinguished from many value funds by the approach to investing – a quantitative process that incorporates “intrinsic value analysis” as well as factors which we believe to be predictive of stock price outperformance. These factors reflect measures of valuation, business momentum, investor sentiment, and management IQ.
  • Our search for attractive value investments is not unduly constrained by benchmark or arbitrary sector, market-cap or geographic parameters. Up to 35% of the Fund’s assets may be invested in companies outside the U.S.
  • The Meritage investment team has been using this specific strategy for over 10 years to manage assets for institutions and individuals in separately managed accounts.

Investment Strategy

  • The investment team focuses on adding value through bottom-up security selection.
  • The search for mispriced securities is driven by the Advisor’s proprietary quantitative process.
  • A universe of 6,500 U.S. and non-U.S. stocks is screened, ranked and scored using a proprietary multi-factor model.
  • The 200 most attractively ranked companies are further evaluated from a qualitative standpoint. 
  • The Advisor emphasizes “optimal diversification” in constructing the portfolio, which is the Fund manager’s concept of being concentrated enough to generate attractive excess returns yet diversified enough to control risk. The resulting portfolio will typically be invested in 45 – 60 companies.

Given the significant differences between separately managed accounts and mutual funds, investors should consider the differences in expenses, tax implications and the overall objectives between separately managed accounts and mutual funds before investing. Past performance of the strategy/separately managed account is not indicative of future performance of the fund.

Small-Cap investing involves greater risk not associated with investing in more established companies, such as greater price volatility, business risk, less liquidity and increased competitive threat.

Diversification does not ensure a profit or guarantee against loss.

Foreign investments, including ADRs, are subject to sovereign risk and may be adversely affected by changes in currency exchange rates, future political and economic developments, and the possible imposition of exchange controls or other foreign governmental laws or restrictions.

 


 

 



Meritage
Funds
Value Equity Fund
Growth Equity Fund
Yield-Focus Equity Fund
Fund Information
Fact sheet
 
Portfolio Management Team
Mark E. Eveans, CFA®,
Lead Manager

Clint W. Anderson, CFA®

Sharon L. Divine, CFA®

John M. Wallis, CFA®

Fund Facts
Ticker MVEBX

CUSIP 14064D303

Inception 12/23/2013

Min. Iniitial Inv. $100,000

Subsequent Inv. $1,000
(100 for automatic
investment plan contributions)

Expense Ratio 1.04% net
  1.71% gross

 

 





7500 College Blvd., Suite 1212, Overland Park KS 66210, Tel 913-345-7000. © Meritage Funds. All rights reserved.

Past performance is no guarantee of future results. The investment return and principal value of an investment in the Funds will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Meritage Mutual Funds. This and other important information about the Funds is contained in the Prospectus, which can be obtained by calling Shareholder Services at (855) 261-0104. The Prospectus should be read carefully before investing.

Distributed by Unified Financial Securities, LLC. (Member, FINRA)