Scharf Global Opportunity Fund
Name
As of 10/04/2024Price
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
Vitals
YTD Return
9.3%
1 yr return
21.9%
3 Yr Avg Return
5.6%
5 Yr Avg Return
10.1%
Net Assets
$26.7 M
Holdings in Top 10
48.1%
52 WEEK LOW AND HIGH
$37.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.40%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 37.42%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$10,000
IRA
$5,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/04/2024Price
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
WRLDX - Profile
Distributions
- YTD Total Return 9.3%
- 3 Yr Annualized Total Return 5.6%
- 5 Yr Annualized Total Return 10.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.92%
- Dividend Yield 1.1%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameScharf Global Opportunity Fund
-
Fund Family NameScharf Investments
-
Inception DateOct 14, 2014
-
Shares Outstanding800872
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBrian Krawez
Fund Description
The Global Opportunity Fund primarily invests in U.S. and non-U.S. equity securities that the Adviser believes have significantly more appreciation potential than downside risk over the long term. Equity securities in which the Fund may invest include, but are not limited to, common and preferred stock of companies of all size market capitalizations, rights and warrants. Under normal circumstances, the Fund will invest at least 40% of its total assets in non-U.S. securities. During unusual market conditions, the Fund will invest at least 30% of its total assets in non-U.S. securities. Such foreign securities may be listed on foreign exchanges as well as in the form of depositary receipts, such as American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”) and Global Depositary Receipts (“GDRs”). There are no geographic limits on the Fund’s investments, and the Fund may invest in securities of companies located both in the U.S. and abroad and in developed or emerging markets. However, the Fund will invest primarily in the securities of companies located in at least four different countries. The Fund may also invest up to 30% of its total assets in non-money market investment companies, including mutual funds and exchange-traded funds (“ETFs”). The Fund may also invest in Rule 144A securities. Under normal market conditions, the Fund will typically invest in less than 50 securities.
In general, the Adviser utilizes five key elements in its equity investment philosophy: low valuation, discount to fair value, investment flexibility, focus and long-term perspective. Through a proprietary screening process, the Adviser seeks to identify investments with low valuations combined with growing earnings, cash flow and/or book value. The Global Opportunity Fund may also invest in “special situations,” which may occur when the securities of a company are affected by circumstances, including, but not limited to, hidden assets (i.e., assets that may be undervalued on a company’s balance sheet or otherwise difficult to value and therefore not properly reflected in the company’s share price), spin-offs, liquidations, reorganizations, recapitalizations, mergers, management changes and technological changes.
In addition, the Global Opportunity Fund may invest up to 30% of its total assets in fixed-income securities. Fixed-income securities in which the Fund may invest include, but are not limited to, those of domestic and foreign governments, government agencies, inflation-protected securities, asset-backed securities, exchange-traded notes (“ETNs”), money market instruments, convertible securities, bank debt, limited partnerships, municipalities and companies across a wide range of industries and market capitalizations and may be of any maturity and include those that are rated below investment grade (i.e., “junk bonds”).The types of asset-backed securities in which the Fund may invest include mortgage-backed securities.
As part of its research process, the Adviser may consider how environmental, social and governance (“ESG”) issues affect a company’s long-term outlook, in terms of opportunities and/or risks for the business and whether such ESG factors have the potential to influence future stock performance, but such factors are not determinative (i.e., they would not lead the Adviser to buy or sell a security without consideration of other factors in the investment process).
The Global Opportunity Fund may invest up to 100% of its net assets in cash, cash equivalents, and high-quality, short-term debt securities, money market mutual funds and money market instruments due to a lack of suitable investment opportunities or for temporary defensive purposes.
When selling securities, the Adviser considers the same factors it uses in evaluating a security for purchase and generally sells securities that it believes no longer have sufficient upside potential.
WRLDX - Performance
Return Ranking - Trailing
| Period | WRLDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.3% | -35.6% | 29.2% | 11.30% |
| 1 Yr | 21.9% | 17.3% | 252.4% | 78.30% |
| 3 Yr | 5.6%* | -3.5% | 34.6% | 26.16% |
| 5 Yr | 10.1%* | 0.1% | 32.7% | 46.85% |
| 10 Yr | N/A* | -6.9% | 18.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | WRLDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.8% | -24.3% | 957.1% | 63.12% |
| 2022 | -12.7% | -38.3% | 47.1% | 73.83% |
| 2021 | 5.5% | -54.2% | 0.6% | 23.01% |
| 2020 | 9.5% | -76.0% | 54.1% | 87.12% |
| 2019 | 16.5% | -26.1% | 47.8% | 28.55% |
Total Return Ranking - Trailing
| Period | WRLDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.3% | -35.6% | 29.2% | 11.30% |
| 1 Yr | 21.9% | 11.4% | 252.4% | 74.09% |
| 3 Yr | 5.6%* | -3.5% | 34.6% | 24.94% |
| 5 Yr | 10.1%* | 0.1% | 32.7% | 45.10% |
| 10 Yr | N/A* | -6.9% | 18.3% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | WRLDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 14.8% | -24.3% | 957.1% | 63.12% |
| 2022 | -11.7% | -33.1% | 47.1% | 74.08% |
| 2021 | 16.5% | -44.4% | 1.8% | 43.88% |
| 2020 | 11.9% | -6.5% | 54.1% | 94.00% |
| 2019 | 28.8% | -14.4% | 47.8% | 48.64% |
NAV & Total Return History
WRLDX - Holdings
Concentration Analysis
| WRLDX | Category Low | Category High | WRLDX % Rank | |
|---|---|---|---|---|
| Net Assets | 26.7 M | 199 K | 133 B | 89.58% |
| Number of Holdings | 31 | 1 | 9075 | 89.43% |
| Net Assets in Top 10 | 12.7 M | -18 M | 37.6 B | 82.05% |
| Weighting of Top 10 | 48.13% | 9.1% | 100.0% | 12.47% |
Top 10 Holdings
- Samsung Electronics Co Ltd 6.56%
- Brookfield Corp 6.37%
- First American Treasury Obligations Fund 5.42%
- Comcast Corp 5.19%
- Fiserv Inc 4.41%
- Oracle Corp 4.15%
- Markel Group Inc 4.14%
- Heineken Holding NV 4.02%
- Berkshire Hathaway Inc 3.93%
- Assa Abloy AB 3.93%
Asset Allocation
| Weighting | Return Low | Return High | WRLDX % Rank | |
|---|---|---|---|---|
| Stocks | 88.69% | 61.84% | 125.47% | 37.11% |
| Preferred Stocks | 6.56% | -0.01% | 5.28% | 10.68% |
| Cash | 5.42% | -174.70% | 23.12% | 63.66% |
| Other | 0.00% | -13.98% | 19.14% | 77.31% |
| Convertible Bonds | 0.00% | 0.00% | 4.46% | 73.02% |
| Bonds | 0.00% | -1.50% | 161.67% | 73.68% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | WRLDX % Rank | |
|---|---|---|---|---|
| Healthcare | 22.00% | 0.00% | 35.42% | 0.66% |
| Technology | 18.04% | 0.00% | 49.87% | 51.65% |
| Communication Services | 17.66% | 0.00% | 57.66% | 17.95% |
| Financial Services | 12.52% | 0.00% | 38.42% | 68.17% |
| Consumer Cyclical | 11.03% | 0.00% | 40.94% | 81.17% |
| Industrials | 8.09% | 0.00% | 44.06% | 87.89% |
| Basic Materials | 4.45% | 0.00% | 38.60% | 52.86% |
| Consumer Defense | 3.38% | 0.00% | 73.28% | 32.71% |
| Energy | 2.82% | 0.00% | 21.15% | 92.40% |
| Utilities | 0.00% | 0.00% | 29.12% | 94.82% |
| Real Estate | 0.00% | 0.00% | 39.48% | 94.49% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | WRLDX % Rank | |
|---|---|---|---|---|
| US | 70.41% | 0.13% | 103.82% | 80.73% |
| Non US | 18.29% | 0.58% | 99.46% | 12.00% |
WRLDX - Expenses
Operational Fees
| WRLDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.40% | 0.01% | 44.27% | 19.16% |
| Management Fee | 0.70% | 0.00% | 1.82% | 94.97% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 44.12% |
| Administrative Fee | N/A | 0.01% | 0.76% | 67.21% |
Sales Fees
| WRLDX 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
| WRLDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | 2.00% | 1.00% | 2.00% | 62.75% |
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.
| WRLDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 37.42% | 0.00% | 395.00% | 72.59% |
WRLDX - Distributions
Dividend Yield Analysis
| WRLDX | Category Low | Category High | WRLDX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.09% | 0.00% | 3.26% | 72.43% |
Dividend Distribution Analysis
| WRLDX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Annually | Annually |
Net Income Ratio Analysis
| WRLDX | Category Low | Category High | WRLDX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.92% | -4.27% | 12.65% | 46.02% |
Capital Gain Distribution Analysis
| WRLDX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 12, 2023 | $0.406 | OrdinaryDividend |
| Dec 12, 2023 | $0.018 | CapitalGainShortTerm |
| Dec 12, 2023 | $0.447 | CapitalGainLongTerm |
| Dec 14, 2022 | $0.334 | OrdinaryDividend |
| Dec 14, 2021 | $3.533 | OrdinaryDividend |
| Dec 08, 2020 | $0.688 | OrdinaryDividend |
| Dec 23, 2019 | $0.410 | OrdinaryDividend |
| Dec 23, 2019 | $0.070 | CapitalGainShortTerm |
| Dec 23, 2019 | $2.682 | CapitalGainLongTerm |
| Dec 11, 2018 | $0.351 | CapitalGainShortTerm |
| Dec 11, 2018 | $1.954 | CapitalGainLongTerm |
| Dec 11, 2018 | $0.280 | OrdinaryDividend |
| Dec 12, 2017 | $0.025 | CapitalGainShortTerm |
| Dec 12, 2017 | $1.588 | CapitalGainLongTerm |
| Dec 12, 2017 | $0.206 | OrdinaryDividend |
| Dec 12, 2016 | $0.199 | CapitalGainLongTerm |
| Dec 12, 2016 | $0.141 | OrdinaryDividend |
| Dec 08, 2015 | $0.007 | CapitalGainShortTerm |
| Dec 08, 2015 | $0.996 | CapitalGainLongTerm |
| Dec 08, 2015 | $0.198 | OrdinaryDividend |
| Dec 16, 2014 | $0.031 | OrdinaryDividend |
WRLDX - Fund Manager Analysis
Managers
Brian Krawez
Start Date
Tenure
Tenure Rank
Oct 14, 2014
7.63
7.6%
Mr. Krawez began his career more than 20 years ago with Smith Barney in San Francisco and later moved to their investment banking division in New York City where he was ranked as a top-rated analyst focusing on health care. Prior to joining Scharf Investments, Mr. Krawez was a Partner and head of research for Belden and Associates Investment Counsel where he managed a successful large blend portfolio. He has also held research analyst positions at Dodge & Cox, Telegraph Hill Investment Counsel, and SC Fundamental, a successful value oriented hedge fund. Mr. Krawez earned both a BS with honors in Business Administration and an MBA from the Haas School of Business at the University of California, Berkeley. While at UC Berkeley he worked for Professor Yellen, the current Chair of the Board of Governors of the Federal Reserve. Mr. Krawez is a CFA® charterholder and a member of the Security Analysts of San Francisco.
Gabe Houston
Start Date
Tenure
Tenure Rank
Oct 14, 2014
7.63
7.6%
Gabe Houston serves as a Senior Research Analyst and an investment committee member. He is responsible for new idea generation, research, analysis and valuation. Mr. Houston joined Scharf Investments in May 2006. Mr. Houston earned a Bachelor of Arts degree in Business Management Economics from the University of California, Santa Cruz. Mr. Houston has earned his Chartered Financial Analyst designation and is a member of the CFA Society of San Francisco.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 35.82 | 6.24 | 1.25 |