About The Polaris Global Value Fund

Since 1998, The Polaris Global Value Fund (PGVFX) has been managed by its Investment Adviser, Polaris Capital Management, LLC, which makes investment decisions for the Fund. An unwavering commitment to pure value investing — time tested over nearly four decades — has been the key to our success and that of our clients. Our personnel, from investment management to client service, have invested a significant amount of their personal assets in the Polaris Global Value Fund (PGVFX). Very simply, our interests are aligned with those of our clients.

Our Record

polaris capital has one of the longest global and international track records of any U.S. firm presently in operation and continuously managed by the same individuals*

Our Record

polaris capital has one of the longest global and international track records of any U.S. firm presently in operation and continuously managed by the same individuals*

Our Record

polaris capital has one of the longest global & international track records of any U.S. firm presently in operation and continuously managed by the same individuals*

Pillars of Our Global Equity Fund

Cash (Flow) Is King

The Polaris Global Value Fund (PGVFX) is a diversified no-load global mutual fund that attempts to provide above average return by investing in companies with potentially strong sustainable free cash flow or undervalued assets. We focus on companies with the potential for strong sustainable free cash flow and conservative balance sheets. These companies may be capable of growing stronger in difficult economic times, while performing admirably in growth cycles too. We like the growth potential, but don’t want to pay for it.

Diversification = A World of Opportunities

We seek to invest in the most undervalued companies in the world, regardless of region or sector. We also have the flexibility to invest in emerging markets, providing an additional avenue for exposure to some of the world’s fastest growing economies. Our Polaris Global Value Fund (PGVFX) attempts to remain well diversified with investments in approximately 15 different industries and many countries. Equally important is our diversification across market capitalizations.

Fundamental Research Rules

Using a series of valuation criteria, our investment team regularly screens a database of more than 40,000+ companies to produce a list of approximately 500 to 2,000 companies worldwide that we view to be the most undervalued. Our global investment process includes screening, with criteria related to the valuation of a company’s sustainable free cash flow, financial strength, market capitalization and liquidity. Bottom-up fundamental research comprises the vast majority of time we spend in the global investment process. Fundamental research covers financial analyses of companies including: in-depth review of financial statements, research on suppliers, customers and competitors and meetings with company management.

It's A Team Approach

Our portfolio managers are responsible for the day-to-day management of the Polaris Global Value Fund (PGVFX) with assistance from a team of tenured investment analysts. Our research team travels the globe in search of discounted, but high-quality stocks in both emerging and developed markets. They spend their time “kicking the tires”, assessing industry conditions, competitive advantages, profitability, operating and financial leverage and the quality of management — in an effort to identify new companies that may enhance the Polaris Global Value Fund’s performance.

IMPORTANT INFORMATION: *Source: Polaris Global & International GIPS

Maintenance Cash Flow is Polaris’ proprietary version of free cash flow, defined as the cash flow generated from operations minus the amount a company must spend to sustain its current level of operations and maintain the sustainability of that cash flow in real terms.

Diversification cannot assure a profit or protect against loss in a down market.