First Trust/Confluence Small Cap Value Fund
FOVAX
NASDAQ- -
USD
- -
- -
- -
- -
(- -)
Recent
price
- -
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- First Trust/Confluence Small Cap Value Fund (FOVAX) is an open-end mutual fund that seeks long-term capital appreciation by investing, under normal market conditions, at least 80% of its net assets in equity securities of small-capitalization companies exhibiting value characteristics, such as lower price-to-book ratios and lower forecasted growth values. The fund offers Class A shares (FOVAX), along with Class I (FOVIX) and Class C (FOVCX) variants, with a focus on small blend style within the U.S. equity market; it maintains a diversified portfolio emphasizing industrials (24.90%), financial services (20.73%), and consumer defensive (14.76%) sectors, with top holdings including Baldwin Insurance Group Inc., Hagerty Inc., and Sapiens International Corporation N.V., while allocating approximately 90.48% to U.S. stocks, 7.14% to non-U.S. stocks, and 2.38% to cash. Managed by Daniel Winter and Mark Keller since January 2011, with Thomas Dugan added in November 2015, the fund features a net expense ratio of 1.60%, a 5.50% front-end load for Class A shares, and a minimum initial investment of $2,500, targeting individual and institutional investors in the United States. First Trust Advisors L.P. serves as the investment adviser, with Confluence Investment Management acting as sub-adviser, supervising the fund from First Trust's headquarters at 120 East Liberty Drive, Wheaton, Illinois; First Trust, founded in 1991, and its affiliate First Trust Portfolios L.P. provide a range of investment products including mutual funds, ETFs, and separately managed accounts, while Confluence contributes expertise in equity strategies. The fund, launched on February 24, 2011 (with Class I shares effective January 11, 2011), operates primarily in U.S. markets with minor exposure to regions like the Middle East and Canada. In a significant recent development, the Board of Trustees of First Trust Series Fund approved the liquidation of the First Trust/Confluence Small Cap Value Fund on December 9, 2025, following a recommendation from First Trust Advisors L.P., citing it as in the best interests of shareholders; the fund will cease accepting new purchase orders after market close on February 13, 2026, halt redemptions on February 20, 2026, and fully liquidate around that date, distributing cash equal to net asset value after settling liabilities, with potential deviation from investment policies and increased cash holdings in preparation. No other major acquisitions, partnerships, funding rounds, or product launches have been reported for the fund in 2024 or 2025, as total net assets stood at approximately $20.01 million recently.