The Fund seeks long-term capital growth.
Our research process is built on the principles established by Benjamin Graham to identify companies that are trading at a discount to their intrinsic value.
Quantitative & Qualitative Analysis. 1. Balance Sheet 2. Valuation 3. Management 4. Sector and Industry
The Queens Road Value Fund uses fundamental, bottom-up analysis to construct a diversified portfolio of companies with valuations typically from $2 billion and up.
Fund Facts are as of June 30, 2024 unless otherwise noted.
Fund Inception reflects the inception date of the Fund.
FPA Manager Inception reflects the date that the Fund was first available for purchase under FPA management.
*The Fund's Total Annual Operating Expenses (as of the most recent prospectus) before reimbursement is 1.61%. The adviser has contractually agreed to reimburse the Fund for operating expenses in excess of 0.65% of average net assets of the Fund, excluding interest, taxes, brokerage fees and commissions payable by the Fund in connection with the purchase or sale of portfolio securities, fees and expenses of other funds in which the Fund invests, and extraordinary expenses, including litigation expenses not incurred in the Fund’s ordinary course of business, until September 30, 2025. These expense reimbursements are subject to possible recoupment by the adviser from the Fund in future years (within the three years from the date when the amount is waived or reimbursed) if such recoupment can be achieved within the lesser of the foregoing expense limits or the the current expense limits. This agreement may be terminated only by the Fund’s Board of Trustees, upon written notice to the adviser. Prior to November 1, 2020, the Fund had a unitized fee structure that limited annual operating expenses to 0.95%.
©2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted by Morningstar to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Steve has served as the sole portfolio manager for the fund since its inception in 2002. Steve joined Bragg Financial Advisors (BFA) in 1999 as a research analyst. Prior to his work with BFA, Steve worked as Product Manager for GMAC Insurance and Reliance Insurance Companies. He received his BA from North Carolina State University in 1992 and his MBA from Wake Forest University in 1996. Steve is a member of the CFA Institute and the North Carolina Society of Financial Analysts.