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Vulcan Value Partners Fund (and two others) reopened to new investors

edited April 2019 in Fund Discussions
https://www.sec.gov/Archives/edgar/data/915802/000139834419007092/fp0041649_497.htm

Vulcan Value Partners Fund
Vulcan Value Partners Small Cap Fund
(the “Funds”)

Supplement dated April 26, 2019
to the Funds’ Prospectus and Statement of Additional Information dated April 23, 2019

Effective as of the date of this supplement, the following changes are being made with respect to the Funds to reflect that the Vulcan Value Partners Fund is no longer closed to new investors.

Prospectus

The first paragraph of the section entitled “Summary Sections – Vulcan Value Partners Fund – Purchase and Sale of Fund Shares” in the prospectus is hereby deleted.

The section entitled “Buying, Exchanging and Redeeming Shares – Buying Shares” which currently refers to the Vulcan Value Partners Fund and the Vulcan Value Small Cap Fund is hereby deleted and replaced in its entirety with the following:

Effective as of the close of business on November 29, 2013, the Vulcan Value Partners Small Cap Fund is closed to new investors, except for new investors who are employees of the Adviser and as described below. This change will affect new investors seeking to purchase shares of the Vulcan Value Partners Small Cap Fund either directly or through third party intermediaries. Existing shareholders of the Vulcan Value Partners Small Cap Fund may continue to purchase additional shares of the Fund.

● A financial advisor whose clients have established accounts in the Vulcan Value Partners Small Cap Fund as of November 29, 2013 may continue to open new accounts in the Fund for any of its existing or new clients.

● Existing or new participants in a qualified retirement plan, such as a 401(k) plan, profit sharing plan, 403(b) plan or 457 plan, which has an existing position in the Vulcan Value Partners Small Cap Fund as of November 29, 2013, may continue to open new accounts in the Fund. In addition, if such qualified retirement plans have a related retirement plan formed in the future, this plan may also open new accounts in the Vulcan Value Partners Small Cap Fund.


Statement of Additional Information

The second paragraph of the section entitled “Purchase, Exchange & Redemption of Shares” which currently refers to the Vulcan Value Partners Fund and the Vulcan Value Small Cap Fund is hereby deleted and replaced in its entirety with the following:

Effective as of the close of business on November 29, 2013, the Vulcan Value Partners Small Cap Fund is closed to new investors, except for new investors who are employees of the Adviser and as described below. This change will affect new investors seeking to purchase shares of the Vulcan Value Partners Small Cap Fund either directly or through third party intermediaries. Existing shareholders of the Vulcan Value Partners Small Cap Fund may continue to purchase additional shares of the Fund.

● A financial advisor whose clients have established accounts in the Vulcan Value Partners Small Cap Fund as of November 29, 2013 may continue to open new accounts in the Vulcan Value Partners Small Cap Fund for any of its existing or new clients.

● Existing or new participants in a qualified retirement plan, such as a 401(k) plan, profit sharing plan, 403(b) plan or 457 plan, which has an existing position in the Vulcan Value Partners Small Cap Fund as of November 29, 2013, may continue to open new accounts in the Vulcan Value Partners Small Cap Fund. In addition, if such qualified retirement plans have a related retirement plan formed in the future, this plan may also open new accounts in the Vulcan Value Partners Small Cap Fund.

INVESTORS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

Comments

  • i.e. our performance hasn't been great, we've lost assets and need to continue to support our hefty salaries, please give us more money to manage.
  • ""i.e. our performance hasn't been great,"" not many reach GREAT !
    Derf
  • Sorry, "our performance has been sh**"
  • edited April 2019
    Incidentally, both the focus and focus-plus strategy funds also reopened.

    Vulcan Value Partners Focus
    Vulcan Value Partners Focus Plus

    https://www.pionline.com/article/20190418/ONLINE/190419831/vulcan-value-partners-reopens-large-cap-equity-strategies-after-reinvesting-in-firm

    (If you cannot view the article, set your browser to "InPrivate browsing mode" with the web address above.)

    Excerpt:
    ...Vulcan Value Partners is reopening its three large-cap equity strategies to new investors after closing them in April 2015, the company announced in a news release.

    The strategies consist of large-cap equity, focus and focus-plus. Focus and focus-plus both invest in high-quality large-cap stocks and typically hold seven to 14 companies, according to Vulcan Value's website. Focus-plus doesn't use leverage and generally uses options instead of buying stock directly...


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