Mutual Funds Overview
Value
All Cap Value Fund
Invests in the undervalued equity securities of companies across the market capitalization spectrum.
Prospectus Fact Sheet Current Financial ReportOpportunity
Strategic Opportunity Fund
Seeks long-term capital appreciation by investing in the undervalued equity securities of small- to mid-cap companies.
Prospectus Fact Sheet Current Financial ReportInvestment Process: Screening, Analysis & Stock Selection
Determine focus list
of investment ideas
for further reading
Conduct initial
analysis of focus
list companies
Conduct intensive
forensic analysis of
attractive candidiates
Determine private
market value
Investment Philosophy
Olstein Capital Management believes:
- There is a strong correlation between above-average investment performance and error avoidance.
- A company's stock price often falls below its private market value due to temporary problems such as missed earnings estimates, overreaction to short-term results or overall negative market psychology. These short-term deviations may present viable opportunities for the patient, long-term investor.
- Excess cash flow is the lifeblood of a business and is the primary determinant of a company's private market value.
- Forensic analysis of financial statements reveals the quality of a company's earnings, the success of its strategy, sustainability of its performance and impact of management decisions on future cash flow.
Discipline and Patience
The Olstein Funds are suitable for investors with a longer-term investment outlook of three to five years. Olstein's accounting-driven, value-oriented approach requires discipline – the discipline to follow your convictions when faced with the negative market psychology that usually surrounds undervalued companies – and patience – as the negative psychology and misperceptions about a company slowly change. Olstein's investment approach is designed for investors who have the patience to remain invested through market cycles and periods of price volatility.
About Risk
A mutual fund is not intended to be a complete investment program and may not achieve its described goals. All mutual funds have risk and you can lose money by investing in mutual funds. Investment return and principal value of an investment will fluctuate with market conditions so that when redeeming, an investor's shares may be worth more or less than the original amount invested.