Barrow All-Cap Core Strategy Celebrates 5-Year Anniversary with Top 2% Category Performance

Feb 20, 2014, 10:30 ET from Barrow Street Advisors LLC

STAMFORD, Conn., Feb. 20, 2014 /PRNewswire/ -- Barrow Street Advisors LLC (Barrow) announced that the Barrow All-Cap Core Strategy marked its five-year anniversary on December 31, 2013 with performance that places the Barrow All-Cap Core Fund (the "Fund") in the top 2% out of 1,152 funds in the Morningstar Large Value category for the five-year period ending the same date.* Through 2013 year-end, the Fund's five-year average annual return was 21.49%, which is better than 500 basis points per annum over the average of its Morningstar peers during the same period.  The Fund's strategy has outpaced the S&P 500 Index each calendar year since inception and uses a diversified portfolio to achieve results.**

"The investment process we developed over time as private equity investors and have diligently applied to public equities over the past five years has played out in-line with our expectations," said Barrow co-founder and Fund co-portfolio manager, Nicholas Chermayeff. "It is tremendously gratifying to see our Fund place so highly within our Morningstar peer group given the number of outstanding managers in the category."

The Barrow All-Cap Core Fund is a U.S. all-cap equity strategy that was converted from a private fund to a mutual fund in August 2013 to make it available to investors of all sizes. The Fund seeks to achieve long-term capital appreciation by implementing Barrow Street's proprietary Systematic Quality Value (SQV) strategy, which utilizes a disciplined, value-oriented investment process to identify opportunities across all market capitalizations and a diverse array of industries.

"We are particularly pleased with the continued success of our strategy. Applying modern technology and lessons from behavioral finance to time-tested value investing principles has allowed us to deliver excellent results to our investors," added Robert F. Greenhill, Jr., a Barrow co-founder and the Fund's co-portfolio manager.

"The Fund is currently available to the Financial Advisor community through the Schwab OneSource program and to individual investors either through Schwab or directly from the Fund.  We will be announcing additional distribution partners in the coming months and look forward to working closely with the Financial Advisor channel," concluded David R. Bechtel, a Barrow Principal and member of the firm's Investment Committee.

About Barrow Street Advisors LLC

The Barrow Funds are managed by Barrow Street Advisors LLC, an affiliate of Barrow Street Capital LLC, an investment firm founded in 1997 by Nicholas Chermayeff and Robert F. Greenhill, Jr.  Barrow manages the Fund as well as the Barrow All-Cap Long/Short Fund (BFSLX, BFLSX), a sister strategy which seeks to generate above-average returns through capital appreciation while also attempting to reduce volatility and preserve capital during market downturns.

Since inception, Barrow Street's affiliates have invested approximately $550 million of equity in private equity and public equity strategies. In addition to the Fund, the firm serves pension funds, sovereign funds, endowments, foundations, family offices, and high net worth individuals.

Barrow All-Cap Core Fund Performance as of 12/31/2013**

Average Annualized Total Returns







Barrow All-Cap Core Fund - Institutional Class







Barrow All-Cap Core Fund - Investor Class







S&P 500 Index







Morningstar Percentile**




**12/31/08. Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth less than the original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end is available by calling 877-767-6633.

***Net Expense Ratio After Waivers: Institutional Class 1.16%, Investor Class 1.41%      

Gross Expense Ratio: Institutional Class 1.40%, Investor Class 1.67%

The S&P 500 Index is an unmanaged index of equity prices and is representative of a broader market and range of securities than is found in the Fund's portfolio.  You cannot invest directly in the index.

Please see Important Information below for additional information.

*For the 1, 3 and 5 year periods ended December 31, 2013 the Fund's Investor Class of shares performance, including performance for those periods prior to its reorganization into the Fund, placed it, 119th (10th percentile) out of 1,297 Large Value funds, 8th (1st percentile) out of 1,192 Large Value funds and 17th (2nd percentile), out of 1,152 Large Value funds respectively. This information does not represent an official Morningstar rating/ranking since Morningstar only rates/ranks funds based on their performance history as a registered fund under the Investment Company Act of 1940. See the Fund's current prospectus for additional information regarding the Fund's reorganization. Past performance does not guarantee future results. © 2014 Morningstar, Inc. All rights reserved.

**The returns of the Fund shown for periods prior to its inception date (August 30, 2013) are the returns of the predecessor, the Barrow Street Fund LP, an unregistered limited partnership managed by the portfolio managers of the Fund (the "Predecessor Private Fund"). The Predecessor Private Fund's performance information reflects the actual fees and expenses that were charged when the Fund was a limited partnership. The prior performance is net of management fees and other expenses but does not include the effect of the performance fee charged by the Predecessor Private Fund, which was in place until October 7, 2012. From its inception on December 31, 2008 through August 30, 2013, the Predecessor Private Fund was not subject to certain investment restrictions, diversification requirements and other restrictions of the Investment Company Act of 1940, as amended or Subchapter M of the Internal Revenue Code of 1986, as amended, which, if they had been applicable, might have adversely affected the Fund's performance. The Predecessor Private Fund was reorganized into Institutional Class shares on August 30, 2013, the date that the Fund commenced operations. The Fund has been managed in the same style and by the same portfolio managers since the Predecessor Private Fund's inception on December 31, 2008.

***Barrow Street Advisors LLC (the "Adviser") has contractually agreed, until October 1, 2016, to waive Management Fees and reimburse Other Expenses to the extent necessary to limit total annual fund operating expenses to an amount not exceeding 1.40% and 1.15% of Investor Class and Institutional Class shares, respectively, of average daily net assets. Management Fee waivers and expense reimbursements by the Adviser are subject to repayment by the All-Cap Core Fund for a period of three years after such fees and expenses were incurred, provided that the repayments do not cause Total Annual Fund Operating Expenses to exceed the foregoing expense limitations. Prior to October 1, 2016, this agreement may not be modified or terminated without the approval of the Board of Trustees. This agreement will terminate automatically if the All-Cap Core Fund's investment advisory agreement with the Adviser is terminated.

Mutual fund investing involves risk. Principal loss is possible. The Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the Fund and may be obtained by calling 1-877-767-6633. Read it carefully before investing. The Fund invests in small and mid-cap companies, which involves additional risks such as limited liquidity and greater volatility.

Distributed by Ultimus Fund Distributors, LLC. 

SOURCE Barrow Street Advisors LLC