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| QTD | YTD | One Year |
Three Years |
Five Years |
Ten Years |
Since Inception 3/31/2014 |
|
|---|---|---|---|---|---|---|---|
| Pzena Emerging Markets Value Fund Institutional Class – PZIEX | 11.01% | 16.65% | 23.50% | 8.91% | 11.33% | 5.70% | 5.65% |
| Pzena Emerging Markets Value Fund Investor Class – PZVEX | 10.91% | 16.30% | 23.06% | 8.50% | 10.95% | 5.37% | 5.32% |
| MSCI Emerging Markets Index | 8.72% | 16.86% | 26.05% | 0.40% | 5.75% | 4.02% | 4.11% |
| MSCI Emerging Markets Value Index | 8.12% | 15.11% | 24.38% | 3.29% | 5.94% | 3.12% | 3.30% |
| PZIEX Expense Ratio* Go to Footnote: Gross: 1.16%, Net: 1.09%, Net (ex-AFFE): 1.08% | |||||||
| PZVEX Expense Ratio* Go to Footnote: Gross: 1.51%, Net: 1.44%, Net (ex-AFFE): 1.43% |
The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets, and provides equity returns including dividends net of withholding tax rates as calculated by MSCI. The MSCI Emerging Markets Value Index captures large and mid-cap emerging markets securities exhibiting overall value style characteristics. The value investment style characteristics for index construction are defined using three variables: book value to price, 12-month forward earnings to price and dividend yield. You cannot invest directly in an index.
Fund holdings, Regional and Sector exposures and characteristics are as of the date shown and are subject to change at any time. As a result, the Fund’s current and future holdings, Regional and Sector exposures and characteristics may vary substantially from the information shown. No recommendation is made regarding the advisability of buying or selling any security.
The Morningstar rating is for The Pzena Emerging Markets Value Fund – Institutional Share Class; other classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) As of September 30, 2024 the Institutional Class shares of the Fund were rated 5-Stars and 5-Stars and 4-Stars against the following numbers of Diversified Emerging Markets funds over the following time periods: 711 funds in the last three- 639 funds in the last five- and 426 funds in the last ten-years. © 2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Before you invest in Pzena Funds, please refer to the statutory and summary prospectuses for important information about the investment company, including investment objectives, risks, charges and expenses. You may also obtain a hard copy of the prospectuses by calling 1-844-PZN-1996 (1-844-796-1996) or by clicking on statutory prospectus or summary prospectus. The prospectuses should be read carefully before you invest or send money.
Mutual fund investing involves risk. Principal loss is possible. Investments in foreign securities involve political, economic and currency risks, greater volatility and differences in accounting methods. These risks are greater for investments in Emerging Markets. The fund may have emphasis on a specific sector which could adversely affect a fund to a greater extent than if its emphasis was less. The fund may invest in securities which are less liquid and more difficult to sell than more liquid securities. Investments in REITs are subject to the risks associated with the direct ownership of real estate. The Fund emphasizes a “value” style of investing, which targets undervalued companies with characteristics for improved valuations. This style of investing is subject to the risk that the valuations never improve or that the returns on “value” securities may not move in tandem with the returns on other styles of investing or the stock market in general.
Pzena Funds are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of the Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.
Investments in REITs are subject to the risks associated with the direct ownership of real estate.
The Pzena Funds are distributed by Quasar Distributors, LLC.