The fund seeks long-term capital appreciation. The fund invests primarily in US and non-US equity securities. The fund is built by combining the highest conviction positions of the underlying sub-advisors.
iMGP Global Select Fund, formerly known as iMGP Equity Fund, seeks superior long-term growth relative to the overall U.S. stock market. Each of the managers separately runs a portion of the fund's portfolio, and each represents a different stock-picking approach or market cap segment. Working independently, each manager runs a portfolio composed of no fewer than 5 or more than 15 of their most compelling stock picks. Because of the mix of managers, we expect 50% to 85% of the fund's portfolio, in normal conditions, to be invested in mid- and large-cap stocks. The fund is primarily invested in the U.S. market, although the managers have limited flexibility to invest in the stocks of foreign companies. We expect typical overseas exposure to be less than 15% of total assets. The multimanager structure results in a broadly diversified portfolio in terms of styles, industries, and stocks. Typically, the fund holds between 75 and 105 stocks.
This fund is appropriate for investors who:
Damon joined Polen Capital in 2003. He heads the Large Company Growth strategy. From 2012 through June 30, 2019, Damon was a co portfolio manager on the Focus Growth strategy. Prior to joining Polen Capital, Damon spent one year working as an equity analyst with Morningstar and four years as a tax consultant to Fortune 500 companies with Price Waterhouse. Damon graduated Magna Cum Laude from the University of South Florida with a B.S. in Accounting, earned an M.S. in Accounting (magna cum laude) from Appalachian State University, and earned an M.B.A. with high honors from The University of Chicago Booth School of Business. He serves on the Investment Committee to the Board of the Make A Wish Foundation of Southern Florida.
Bryan Power joined Polen Capital in 2016. Prior to joining the firm, Brian spent two years as an Associate in equity research and institutional equities at Oppenheimer & Co. Prior to that, he spent almost three years working in various equity related analytical roles at Bloomberg LP. Brian received a B.A. in Economics and Business (cum laude) from Johns Hopkins University, where he was a student athlete, and earned an M.B.A. from The University of Chicago Booth School of Business. Brian is a CFA® charterholder and member of the CFA Society of South Florida.
Damon joined Polen Capital in 2003. He heads the Large Company Growth strategy. From 2012 through June 30, 2019, Damon was a co portfolio manager on the Focus Growth strategy. Prior to joining Polen Capital, Damon spent one year working as an equity analyst with Morningstar and four years as a tax consultant to Fortune 500 companies with Price Waterhouse. Damon graduated Magna Cum Laude from the University of South Florida with a B.S. in Accounting, earned an M.S. in Accounting (magna cum laude) from Appalachian State University, and earned an M.B.A. with high honors from The University of Chicago Booth School of Business. He serves on the Investment Committee to the Board of the Make A Wish Foundation of Southern Florida.
Bryan Power joined Polen Capital in 2016. Prior to joining the firm, Brian spent two years as an Associate in equity research and institutional equities at Oppenheimer & Co. Prior to that, he spent almost three years working in various equity related analytical roles at Bloomberg LP. Brian received a B.A. in Economics and Business (cum laude) from Johns Hopkins University, where he was a student athlete, and earned an M.B.A. from The University of Chicago Booth School of Business. Brian is a CFA® charterholder and member of the CFA Society of South Florida.
Brian Krawez is Scharf Investments’ President and Investment Committee Chairman, as well as Lead Portfolio Manager. He began his career more than 20 years ago with Smith Barney in San Francisco. He later moved to their investment banking division in New York City, where he was ranked as a top-rated analyst focused on health care.
Prior to joining Scharf Investments in 2007, Mr. Krawez was a partner and head of research for Belden and Associates Investment Counsel, managing 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 Bachelor of Science with honors in business administration and a Master of Business Administration from the Haas School of Business at the University of California, Berkeley. While at UC Berkeley he worked for Professor Yellen, the former Chair of the Board of Governors of the Federal Reserve. Mr. Krawez is a Chartered Financial Analyst and a member of the Security Analysts of San Francisco.
Gabe Houston serves as a Senior Research Analyst and Portfolio Manager, as well as an investment committee member. He is responsible for new idea generation, research, analysis and valuation. Mr. Houston joined Scharf Investments in 2006, after completing his university degree.
Mr. Houston earned a Bachelor of Arts in business management economics from the University of California, Santa Cruz. He earned his Chartered Financial Analyst designation and is a member of the CFA Society of San Francisco. He also holds a FINRA Series 65 license.
Brian Krawez is Scharf Investments’ President and Investment Committee Chairman, as well as Lead Portfolio Manager. He began his career more than 20 years ago with Smith Barney in San Francisco. He later moved to their investment banking division in New York City, where he was ranked as a top-rated analyst focused on health care.
Prior to joining Scharf Investments in 2007, Mr. Krawez was a partner and head of research for Belden and Associates Investment Counsel, managing 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 Bachelor of Science with honors in business administration and a Master of Business Administration from the Haas School of Business at the University of California, Berkeley. While at UC Berkeley he worked for Professor Yellen, the former Chair of the Board of Governors of the Federal Reserve. Mr. Krawez is a Chartered Financial Analyst and a member of the Security Analysts of San Francisco.
Gabe Houston serves as a Senior Research Analyst and Portfolio Manager, as well as an investment committee member. He is responsible for new idea generation, research, analysis and valuation. Mr. Houston joined Scharf Investments in 2006, after completing his university degree.
Mr. Houston earned a Bachelor of Arts in business management economics from the University of California, Santa Cruz. He earned his Chartered Financial Analyst designation and is a member of the CFA Society of San Francisco. He also holds a FINRA Series 65 license.
Established in 1983, Scharf Investments is an independent and employee-controlled global asset and wealth management organization with a differentiated approach to quality value investing. Its time-tested investment process identifies high quality companies with sustainable earnings that may provide downside risk mitigation and outperform over the course of a market cycle. The firm provides investment solutions offering exposure to U.S. and global value, multi-asset, and alternative investment strategies to institutions, intermediaries, and individual investors.
Rayna Lesser Hannaway, Head of Team, Portfolio Manager & Analyst, is a portfolio manager for the Global SMID Company Growth, U.S. Small Company Growth and U.S. SMID Company Growth strategies. Ms. Lesser Hannaway joined Polen Capital in 2017. Prior to joining Polen Capital, she spent nine years in portfolio management and two years as a research analyst at Fidelity Investments in Boston, evaluating small and mid-cap companies. She also spent nine years working in small-cap research for Jennison Associates and Lord Abbett & Company. Ms. Lesser Hannaway received a B.A. in Economics from Barnard College, a division of Columbia University. Ms. Lesser Hannaway is a CFA® charterholder and holds a CFA Institute Certificate in ESG Investing.
Satya Dantuloori, Portfolio Manager & Analyst, is a portfolio manager for the Global SMID Company Growth, Asia ex Japan Growth, and India Growth strategies and a member of the investment team at Polen Capital UK. Mr. Dantuloori joined Polen Capital in 2023. Prior to joining Polen Capital, he was an analyst at LGM, where he initially focused on Indian equities and later expanded coverage to emerging markets. Mr. Dantuloori was also part of the founding investment team of Laburnum Capital, New Delhi, where he researched Indian equities for more than five years across sectors. He was also the Vice President at Digital Century Capital in New Delhi, where he researched global technology stocks. He began his career at KPMG’s business consulting division as a consultant on corporate strategy in 2006. Mr. Dantuloori holds a postgraduate degree in Management from the Indian Institute of Management Calcutta and graduated in Mechanical Engineering from the Indian Institute of Technology Bombay.
Shane Smith, Portfolio Manager & Analyst, is a portfolio manager for the Global SMID Company Growth strategy. Mr. Smith joined Polen Capital in 2019. Prior to joining Polen Capital, he was a research analyst on the Global Small Cap team at Franklin Templeton, where he worked for seven years. Mr. Smith received a B.S. in Environmental Horticulture and an M.S. in Management with a Minor in Soil and Water Science from the University of Florida. Shane is a CFA® charterholder.
Greg McIntire, Head of Quantitative Insight & Risk, Portfolio Manager, is a portfolio manager for the Global SMID Company Growth strategy. Mr. McIntire joined Polen Capital in 2023. He has 20 years of experience within the industry, working in asset allocation, equity portfolio management, risk management, manager selection, and quantitative modeling. Prior to joining Polen Capital, he served as the Chief Investment Officer at AJO partners, a Product Manager for Equity offerings at AQR Capital Management, and a Portfolio Manager for US Equity at SEI Investments, alongside analyst duties earlier in his career. Mr. McIntire graduated from the University of Illinois Urbana-Champaign, earning his BS in Actuarial Science and MS in Finance. Greg is a CFA® charterholder.
Rayna Lesser Hannaway, Head of Team, Portfolio Manager & Analyst, is a portfolio manager for the Global SMID Company Growth, U.S. Small Company Growth and U.S. SMID Company Growth strategies. Ms. Lesser Hannaway joined Polen Capital in 2017. Prior to joining Polen Capital, she spent nine years in portfolio management and two years as a research analyst at Fidelity Investments in Boston, evaluating small and mid-cap companies. She also spent nine years working in small-cap research for Jennison Associates and Lord Abbett & Company. Ms. Lesser Hannaway received a B.A. in Economics from Barnard College, a division of Columbia University. Ms. Lesser Hannaway is a CFA® charterholder and holds a CFA Institute Certificate in ESG Investing.
Satya Dantuloori, Portfolio Manager & Analyst, is a portfolio manager for the Global SMID Company Growth, Asia ex Japan Growth, and India Growth strategies and a member of the investment team at Polen Capital UK. Mr. Dantuloori joined Polen Capital in 2023. Prior to joining Polen Capital, he was an analyst at LGM, where he initially focused on Indian equities and later expanded coverage to emerging markets. Mr. Dantuloori was also part of the founding investment team of Laburnum Capital, New Delhi, where he researched Indian equities for more than five years across sectors. He was also the Vice President at Digital Century Capital in New Delhi, where he researched global technology stocks. He began his career at KPMG’s business consulting division as a consultant on corporate strategy in 2006. Mr. Dantuloori holds a postgraduate degree in Management from the Indian Institute of Management Calcutta and graduated in Mechanical Engineering from the Indian Institute of Technology Bombay.
Shane Smith, Portfolio Manager & Analyst, is a portfolio manager for the Global SMID Company Growth strategy. Mr. Smith joined Polen Capital in 2019. Prior to joining Polen Capital, he was a research analyst on the Global Small Cap team at Franklin Templeton, where he worked for seven years. Mr. Smith received a B.S. in Environmental Horticulture and an M.S. in Management with a Minor in Soil and Water Science from the University of Florida. Shane is a CFA® charterholder.
Greg McIntire, Head of Quantitative Insight & Risk, Portfolio Manager, is a portfolio manager for the Global SMID Company Growth strategy. Mr. McIntire joined Polen Capital in 2023. He has 20 years of experience within the industry, working in asset allocation, equity portfolio management, risk management, manager selection, and quantitative modeling. Prior to joining Polen Capital, he served as the Chief Investment Officer at AJO partners, a Product Manager for Equity offerings at AQR Capital Management, and a Portfolio Manager for US Equity at SEI Investments, alongside analyst duties earlier in his career. Mr. McIntire graduated from the University of Illinois Urbana-Champaign, earning his BS in Actuarial Science and MS in Finance. Greg is a CFA® charterholder.
Scott Moore is the President and Chief Investment Officer of Nuance. He founded the firm in November, 2008 and is also the Lead Portfolio Manager for all products within Nuance. Moore has over 28 years of investment experience, more than 26 years of value investment analyst experience and more than 20 years of portfolio management experience using a classic value approach.
For the decade before co-founding Nuance, Moore 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. Moore holds a Bachelor of Science (BS) in finance from Southern Illinois University, and a Masters of Business Administration (MBA) with an emphasis in finance from the University of Missouri. He is a CFA® charterholder.
Chad is the Vice President & 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 Nuance Concentrated Value Long Short. Chad also focuses his analytical skills on the Energy, Financial, and Real Estate sectors. He has over 13 years of investment analyst experience and 6 years of portfolio management experience using a classic value approach.
Before joining Nuance, Chad was a Portfolio Manager for 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.
Chad graduated from the University of Northern Iowa with a Bachelor of Arts (BA) in finance. He has an 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.
Scott Moore is the President and Chief Investment Officer of Nuance. He founded the firm in November, 2008 and is also the Lead Portfolio Manager for all products within Nuance. Moore has over 28 years of investment experience, more than 26 years of value investment analyst experience and more than 20 years of portfolio management experience using a classic value approach.
For the decade before co-founding Nuance, Moore 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. Moore holds a Bachelor of Science (BS) in finance from Southern Illinois University, and a Masters of Business Administration (MBA) with an emphasis in finance from the University of Missouri. He is a CFA® charterholder.
Chad is the Vice President & 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 Nuance Concentrated Value Long Short. Chad also focuses his analytical skills on the Energy, Financial, and Real Estate sectors. He has over 13 years of investment analyst experience and 6 years of portfolio management experience using a classic value approach.
Before joining Nuance, Chad was a Portfolio Manager for 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.
Chad graduated from the University of Northern Iowa with a Bachelor of Arts (BA) in finance. He has an 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.
Nuance is a classic value investment firm headquartered in Kansas City, Missouri and is 100% employee owned. Nuance has been managing portfolios for individuals and institutions using the same classic value investment philosophy since first registering as an investment advisor in 2008. Nuance was formed on the belief that the ability to outperform the broad stock market is predicated on a consistent and disciplined value investing approach. The Nuance Investment Team’s sole focus is generating investment returns for clients by diligently reviewing one company at a time on its own investment merits. Through long-term study of each company and thorough analysis of financial statements, management strategy and competitive position, our Investment Team becomes familiar with each company bought and sold in the portfolios over time. This familiarity allows for consistent and prompt execution with the sole focus being the generation of excess returns over the long-term. Further, we are intensely focused on ensuring that we manage the appropriate amount of assets to allow future performance that has the opportunity to mirror that of the historical performance. We aim to outperform our primary and secondary benchmarks on an absolute and risk-adjusted basis over the long-term.
The value of a hypothetical $10,000 investment in the iMGP Equity Fund compared with the MSCI World NR USD, Russell 3000 TR USD, and US Fund Global Large-Stock Blend.
The hypothetical $10,000 investment at fund inception includes changes due to share price and reinvestment of dividends and capital gains. The chart does not imply future performance. Indexes are unmanaged, do not incur fees, expenses or taxes, and cannot be invested in directly.
Performance quoted does not include a deduction for taxes that a shareholder would pay on the redemption of fund shares.
Select the set of performance tables to view.
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted.
Returns less than one year are not annualized.
Prior to April 30, 2009, the fund’s Institutional Class was an unnamed share class.
Indexes are unmanaged, do not incur fees, and cannot be invested in directly. Click here for index definitions.
Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced. The gross and net expense ratios can be found in the most recent Summary Prospectus (4/30/2023). There are contractual fee waivers in effect through 4/30/2024.
While the fund is no-load, management and other expenses still apply.
Fund holdings and/or sector allocations are subject to change at any time and are not recommendations to buy or sell any security.
During the fourth quarter, the fund’s 11.03% gain narrowly trailed the MSCI World Index return of 11.42%, but outpaced the Morningstar Global Large-Stock Blend category return of 10.54. MORE
During the third quarter of 2022, the fund underwent significant changes to the line-up of subadvisors. The fund removed all but one existing subadvisor and added three subadvisors with expanded flexibility to invest globally. MORE
iMGP Funds emails provide investors a way to stay in touch with us and receive information regarding the funds and investment principles in general. Topics may include updates on the funds and managers, further insights into our investment team’s processes, and commentary on various aspects of investing.
iMGP Fundsʼ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be viewed here or by calling 1-800-960-0188. Read it carefully before investing.
Mutual fund investing involves risk. Principal loss is possible.
Though not an international fund, the fund may invest in foreign securities. Investing in foreign securities exposes investors to economic, political, and market risks and fluctuations in foreign currencies. Though not a small-cap fund, the fund may invest in the securities of small companies. Small-company investing subjects investors to additional risks, including security price volatility and less liquidity than investing in larger companies. Multi-investment management styles may lead to higher transaction expenses compared to single investment management styles. Outcomes depend on the skill of the sub-advisors and advisor and the allocation of assets amongst them.
Diversification does not assure a profit nor protect against loss in a declining market.
Small-cap, mid-cap, and large-cap companies have market capitalizations of less than $4.4b; from $4.4b to $29.4b; and greater than $29.4b, respectively. Market cap breakouts are based on the Russell index reconstitution as of June 30, 2017.
Index Definitions | Industry Terms and Definitions
References to other mutual funds should not be deemed an offer to sell or solicitation of an offer to buy shares of such funds.
The iMGP Funds are distributed by ALPS Distributors, Inc.