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DeForest R. Hinman named portfolio manager of Walthausen Small Cap Value Fund

TheShadowTheShadow
in Fund Discussions
https://www.sec.gov/Archives/edgar/data/1418191/000141304220000637/walth497pros110420.htm

497 1 walth497pros110420.htm


WALTHAUSEN FUNDS

Walthausen Small Cap Value Fund (WSCVX and WFICX)

Supplement dated November 4, 2020
to the Prospectus dated June 1, 2020

Effective immediately the second paragraph under the heading Management on page 4 of Prospectus is deleted in its entirety and replaced with the following:

Portfolio Managers

John B. Walthausen has managed the Fund since its inception in February 2008. Mr. Walthausen is the Chief Investment Officer of the Advisor. Gerard S.E. Heffernan has co-managed the Fund since March 2018. Mr. Heffernan is a portfolio manager for the Advisor. DeForest R. Hinman has co-managed the Fund since November 2020. Mr. Hinman is a portfolio manager for the Advisor.

Additionally, first paragraph under the heading The Investment Advisor on page 7 of Prospectus is deleted in its entirety and replaced with the following:

Walthausen & Co., LLC, 2691 Route 9, Suite 102, Malta, NY 12020, is the investment advisor of the Fund and has responsibility for the management of the Fund's affairs, under the supervision of the Fund's Board of Trustees. The Fund's investment portfolio is co-managed on a day-to-day basis by John B. Walthausen, CFA Gerard S.E. Heffernan CFA and DeForest R. Hinman. Mr. Walthausen founded the Advisor in 2007 and is a managing director of the Advisor. Mr. Walthausen is the Chief Investment Officer of the Advisor. Mr. Walthausen has managed the Fund since its inception. Mr. Walthausen's formal education includes a BA from Kenyon College and a MBA from New York University. Mr. Heffernan joined the Advisor in February 2018. His involvement in the investment industry spans over 25 years, including 15 years at Lord Abbett & Co., where he was a partner and portfolio manager specializing in small cap value equities. From June 2013 until February 2018, he was self-employed managing his own portfolio. Mr. Heffernan received a B.S. in Business Administration from Villanova University. DeForest R. Hinman has been a principal of Walthausen & Co. since the firm’s inception in September, 2007. Before his appointment as a co-portfolio manager, he served previously as a co-portfolio manager of the Walthausen Small Cap Value Fund and Walthausen Select Value Fund in 2017, and retains his position as Director of Research for Walthausen & Co. DeForest’s formal education includes a B.S. in Business Administration (Summa Cum Laude) from State University of NY at Albany and a M.B.A. in Finance from the State University at Albany.

This supplement and the Prospectus dated June 1, 2020 provide the information a prospective investor ought to know before investing and should be retained for future reference. The prospectus has been filed with the Securities and Exchange Commission and can be obtained without charge by calling the Fund at 1-888-925-8428 or by visiting the Fund’s website at www.walthausenfunds.com.







Comments

  • BenWPBenWP
    I used to own WSVIX, after having been referred to Walthausen by Kevin O'Boyle who had had a fine stint at Meridian Value before founding his own fund, the Presidio Fund. This SCV fund was also a fine performer. When O'Boyle decided to close the fund, I asked where he'd put his own money. With John Walthausen, he said. When Rick Aster at Meridian died suddenly, O'Boyle helped out by managing temporarily again. WSVIX had a couple of very good years before small cap value lost any sort of mojo at all. John Walthausen may have realized the wait for good returns could eat up his retirement. It's been reported elsewhere that the number of stocks available has been declining steadily; I think it may be all the harder these to discover good companies in the SCV arena.
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