Diversified.
Invested.
Our Global Fund
The Polaris Global Value Fund (PGVFX) is a no-load mutual fund that has been advised by Polaris Capital Management since its inception in 1998. Through multiple market cycles across many decades, we have remained committed to our long-term, value-oriented approach.
At Polaris Capital, we have one of the longest global track records of any firm presently in operation and continuously managed by the same individuals.*

Value Driven.
Diversified.
Invested.
Our Global Fund
The Polaris Global Value Fund (PGVFX) is a no-load mutual fund that has been advised by Polaris Capital Management since its inception in 1998. Through multiple market cycles across many decades, we have remained committed to our long-term, value-oriented approach.
We have one of the longest global track records of any firm presently in operation and continuously managed by the same individuals.*
Statistically Patient, Actively Engaged
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The Polaris Global Value Fund returned 4.01%, handily outperforming the MSCI World Index, which declined -1.79%. Financials contributed most, followed by Index-beating results in health care, energy and consumer discretionary sectors. Materials and information technology detracted, the latter of which was impacted by industry upheaval over DeepSeek. Fund holdings in Germany, Norway, Sweden, China, Netherlands and Italy returned double-digit gains, while the United States added on weighting. Canada and Ireland detracted. Read the full first quarter 2025 commentary here.
2023 started with economists calling for a recession; by summer, the consensus shifted to “higher for longer”; but by November, the temperature changed to cooling inflation, rate cuts and a “soft landing” scenario. The early anticipated recession did not materialize; in fact, just the opposite occurred with the S&P 500 Index up 26.29% for the year, leveraging gains from a concentrated group of mega-cap tech stocks (Mag 7). But “time might be up” for growth stocks…

MoneyLife Market Call: The End of Free Money Favors Value
Bernie Horn of Polaris Capital says that international value bested growth for several years now and expects the U.S. to follow suit as central banks keep interest rates higher, creating positive real returns for fixed income and ending some of the bubbles caused in equity sectors from years of borrowing at near-zero interest rates. Listen in as Bernie speaks with Chuck Jaffe from the Money Life Show… www.moneylifeshow.com