Chartwell Mid Cap Value Fund


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 

AS OF MARCH 31, 2021

Fund Symbol: BERCX       Dividends: Annually       12B-1 Fee: None
Fund Cusip: 16140T 301   Minimum Initial Purchase: $1,000   Total Net Assets: $32 million
Objective: Long-Term Capital Appreciation   Subsequent Purchase: $100   Gross Expense Ratio: 1.47%
Inception Date: 5/1/2002   Load: No-Load   Net Expense Ratio: 0.90%

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 0.90% of the average daily net assets of the Fund’s shares. This agreement is in effect at least one year from the 3/1/21 prospectus 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 MARCH 31, 2021

Berwyn CornerStone Fund Pie Chart
Pie Chart Square - 03425c Financial Services 17%  
Pie Chart Square - 055e83 Utilities 9%  
Pie Chart Square - 0e7eb0 REITs 10%  
Pie Chart Square - f78c21 Capital Spending 5%  
Pie Chart Square - FAA442 Technology 9%  
Pie Chart Square - FDC789 Basic Industry 8%  
Pie Chart Square - 656565 Energy 4%  
Pie Chart Square - 8B8A8B Consumer Cyclical 4%  
Pie Chart Square - BCBCBC Consumer Staples 4%  
Pie Chart Square - D0D6E9 Consumer Services 14%  
Pie Chart Square - A8B5DA Business Services 4%  
Pie Chart Square - CECECD Healthcare 9%  
Pie Chart Square - 010101 Cash 3%  



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 Returns for less than a year are not annualized. 

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

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

Additional Information


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



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


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.

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Tom DiBari

North East | New York, NY
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Jamie Keevican

Mid Atlantic | Pittsburgh, PA
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Jason Stewart

West | San Francisco, CA
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Zachary Crump

South West | The Colony, TX
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