Chartwell Mid Cap Value Fund

Overview

The Chartwell Mid Cap Value Fund (BERCX) emphasizes companies with market capitalizations that are mid-cap in size and that exhibit strong growth, profitability, and financial strength characteristics.

Investment Objective

The investment objective of the Chartwell Mid Cap Value Fund (BERCX) seeks long-term capital appreciation.

Fund Facts 

Fund Symbol BERCX
Fund Cusip 16140T 301
Load No-Load
12B-1 Fee None
Total Net Assets as of 09/30/18 $26 million
Objective Long-Term Capital Appreciation
Inception Date 5/1/2002
Dividends Annually
Gross Expense Ratio 1.65%
Net Expense Ratio 1.06%
Minimum Initial Purchase $1,000/$1,000 IRA

Chartwell Investment Partners, LLC has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that total annual fund operating expenses (excluding any taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses as determined in accordance with Form N-1A, expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses) do not exceed 1.05% of the average daily net assets of the Fund’s shares. This agreement is in effect until July 17, 2019, and it may be terminated prior to this time only by the Trust’s Board of Trustees, or if the investment advisory agreement is terminated (i) by The Chartwell Funds upon 60 days’ notice to the advisor provided such termination was directed or approved by a vote of a majority of the Trustees of The Chartwell Fundsor by the vote of the holders of a majority of the voting securities of the Fund at the time outstanding or entitled to vote; (ii) by the advisor upon 60 days’ notice to The Chartwell Funds; or (iii) by an assignment of the investment advisory agreement. After April 29, 2018, the advisor will be permitted to seek reimbursement from the Fund, subject to certain limitations, of fees waived or payments made to the Fund for a period ending three years after the date of the waiver or payment, provided that no reimbursement will cause the Fund’s annual expense ratio to exceed the lesser of the (i) expense limitation amount in effect at the time such fees were waived or payments made,and (ii) the expense limitation amount in effect at the time of the reimbursement.

Fund Portfolio Composition

AS OF SEPTEMBER 30, 2018

Berwyn CornerStone Fund Pie Chart
Pie Chart Square - 03425c Financial Services 18%  
Pie Chart Square - 03425c Utilities 11%  
Pie Chart Square - 0e7eb0 REITs 13%  
Pie Chart Square - f78c21 Capital Spending 5%  
Pie Chart Square - FAA442 Technology 6%  
Pie Chart Square - FDC789 Basic Industry 13%  
Pie Chart Square - 656565 Energy 8%  
Pie Chart Square - 8B8A8B Consumer Cyclical 5%  
Pie Chart Square - BCBCBC Consumer Staples 2%  
Pie Chart Square - D0D6E9 Consumer Services 10%  
Pie Chart Square - A8B5DA Business Services 3%  
Pie Chart Square - CECECD Healthcare 3%  
Pie Chart Square - 010101 Short-Term Inv. 3%  

 

Performance

Performance data quoted here represents past performance. Past performance is no guarantee of future results. Investment fund and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data cited. Current month end data is available at www.chartwellip.com. Returns for less than a year are not annualized. A redemption fee of 1.00% will be imposed on redemptions of Fund shares owned less than 30 days.

The Fund acquired the assets and liabilities of the Berwyn Cornerstone Fund (the "IMST Predecessor Fund"), a series of Investment Managers Series Trust, on July 17, 2017. The IMST Predecessor Fund acquired the assets and liabilities of the Berwyn Cornerstone Fund (the "Berwyn Funds Predecessor Fund," and together with the IMST Predecessor Fund, the "Predecessor Funds"), a series of the Berwyn Funds, on April 29, 2016. As a result of the organizations, the Fund is the accounting successor of the Predecessor Funds. Performance results shown reflect the performance of the IMST Predecessor Fund for the period from April 29, 2016 through July 17, 2017, and the performance of the Berwyn Funds Predecessor Fund for the period prior to April 29, 2016. The Predecessor Funds' past performance is not necessarily an indication of how the Fund will perform in the future. The Fund's principal investment strategies differ from those of the Predecessor Funds; therefore, the performance and average annual total returns shown for periods prior to the reorganization may have differed had the Fund's current investment strategy been in effect during those periods.

Russell Midcap Value: an Index  that measures the performance of those Russell Midcap companies with lower price/book ratios and lower forecasted growth values. The stocks are also members of the Russell 1000® Value Index.

Investors cannot invest directly in an index.

Top Ten Holdings

AS OF SEPTEMBER 30, 2018

Holding

% of Investments

KIRBY CORP. 4.1
DUKE REALTY CORP. 4.0
SNAP ON INC. 4.0
EXPEDIA INC. 3.9
AUTOZONE INC. 3.8
ENERGEN CORP. 3.8
ALLSTATE CORP. 3.7
VALVOLINE INC. 3.5
LINCOLN NATIONAL CORP. 3.4
CMS ENERGY CORP. 3.3

Figures unaudited. For informational purposes only. Holdings are subject to change at any time.

Additional Information

ADVISOR

Chartwell Investment Partners, LLC
1205 Westlakes Drive
Berwyn, PA 19312

610.296.1400

DISTRIBUTOR

Distributed by Foreside Fund Services, LLC
Wholesaling provided by our affiliate, 
Chartwell TSC Securities Corp., Member FINRA

TRANSFER AGENT

Ultimus Fund Solutions, LLC
P.O. Box 46707
Cincinnati, OH 45246-0707

On July 17, 2017 the Berwyn Cornerstone Fund was reorganized in the Chartwell Mid Cap Value Fund, which has a similar, but not identical, investment objectives, as well as different investment strategies and risks.

Fund Dividend Information

Please visit our dedicated Fund Distributions Page for more information on the Chartwell Mid Cap Value Fund’s annual dividends. 

Investing Risk

Mutual Fund investing involves risk, including the potential loss of principal. Mid-Cap securities may be subject to more abrupt market movements and may have lower trading volumes than securities of larger, more established companies. Value investing is subject to the risk that the market will not recognize a security’s inherent value, or that a stock judged to be undervalued may actually be appropriately priced or overvalued. Foreign securities involve greater currency valuation, economic, political, and regulatory environment risk relative to U.S. securities. The Fund may invest in ETFs and therefore would be subject to the same risks as the underlying securities in which the ETF invests as well as entails higher expenses than if invested into the underlying ETF directly. The Fund is a non-diversified fund which may present greater risks than a diversified fund that invests in a greater number of issuers.

Contact Us

Tom DiBari

North East | New York, NY
917.865.0362
Send an Email

Jamie Keevican

Mid Atlantic | Pittsburgh, PA
412.304.0440
Send an Email

Sidney D. Baker

South Atlantic | Atlanta, GA
404.731.3881
Send an Email

Tai Park

Mid West | Chicago IL
312.593.8153
Send an Email

Jason Stewart

West | San Francisco, CA
415.310.5088
Send an Email 

Mario Davila

Southwest | Austin, TX
210.882.9247
Send an Email 

  Seth Jennings
South East | Tampa, FL
813.451.9451
Send an Email



 

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