CornerCap Small-Cap Value Fund
CSCVX
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- CornerCap Small-Cap Value Fund (CSCVX) is an actively managed mutual fund that seeks long-term capital appreciation with a secondary objective of generating income from dividends or interest on securities; it invests primarily in equity securities of small-cap U.S. companies defined as those with market capitalizations within the range of the Russell 2000 Index at the time of purchase, which as of June 30, 2024, spanned approximately $8.0 million to $48.0 billion; the Fund may also invest in real estate investment trusts (REITs) within its investable universe. The Fund employs a proprietary quantitative research system called Fundametrics, which groups small-cap stocks into custom peer groups and evaluates them across over 200 fundamental factors emphasizing value, growth, price momentum, quality, and risk; the Fundametrics Alpha Composite ranks stocks for potential excess returns relative to the benchmark, prioritizing relative valuation, earnings growth rates over historic and forecasted periods, and cash flow metrics, while the Financial Warnings Overlay flags high-risk stocks based on peer-group-specific factors such as leverage and accruals to avoid underperformance; the portfolio typically holds 250 to 350 stocks selected from approximately 1,950 issuers, with buy/sell decisions driven by high Alpha Composite scores, risk clearance, and diversification, potentially leading to sector concentrations exceeding 25%, including financials. The Advisor Class trades under ticker CSCVX, alongside the Institutional Class (CSCJX), with shares available through financial intermediaries, mail, telephone, or wire transfer, subject to a $2,000 minimum initial investment and $250 subsequent minimum; the Fund is a series of Managed Portfolio Series trust, distributed by Foreside Fund Services, LLC. Headquartered c/o CornerCap Investment Counsel, Inc. at 1355 Peachtree Street NE, Suite 1700, Atlanta, Georgia 30309, the Fund traces its performance history to a predecessor fund via a reorganization on November 18, 2022, with Institutional Shares commencing December 29, 2015, and Investor Shares (now Advisor Class) from September 30, 1992. Recent developments include the Adviser's sale of its advisory account assets to EP Wealth Advisors, LLC, pursuant to an Asset Purchase Agreement dated July 28, 2024, with the transaction closing on September 13, 2024; as part of this, the Adviser continues managing the Fund during a finite Management Period anticipated to end with the Fund's liquidation and termination around January 2025, during which the management fee was reduced to 0.00% from 0.88% and the operating expense limit to 0.25% from 0.95% effective September 13, 2024; additionally, portfolio manager Joshua Tucker departed effective that date.