Poplar Forest Cornerstone Fund
Established on December 31, 2014 the Poplar Forest Cornerstone Fund is a balanced fund of U.S. focused equity and debt securities. The Fund may be suitable for long-term investors who seek a combination of both capital growth and preservation with less volatility than would generally be inherent in an all equity account.
Objective
The Poplar Forest Cornerstone Fund investment objective is current income and long-term growth of capital. The Fund seeks to generate returns that improve client purchasing power over the long term, by building a balanced portfolio of debt and equity securities. Equity and fixed income weightings will be tactically allocated based on prospective return potential and perceived risk although equity exposure will not generally exceed 75% of net assets.
Strategy
Management uses a long-term approach to security selection. Investments will generally be made with an investment horizon of three years, although individual investments may be held for shorter or longer time periods. The Poplar Forest investment team evaluates investment opportunities using bottom-up fundamental analysis, paying particular attention to the following factors:
- Expected future profits;
- Expected sustainable revenue and/or asset growth;
- Expected cash investment needed to support expected growth;
- Normalized free cash flow after considering the items above; and
- Valuation relative to normalized earnings and free cash flow after giving consideration to growth potential and financial strength.
In contrast to equity investments where capital appreciation is the goal, fixed income investments are selected with the objective of capital preservation and current income.
Performance
AVERAGE ANNUAL TOTAL RETURNS AS OF 09/30/2024
| QTD | YTD | 1YR | 3YR | 5YR | ITD~ | |
|---|---|---|---|---|---|---|
| Investor Shares* (IPFCX) | -1.35% | 6.69% | 6.69% | 3.94% | 8.76% | 6.73% |
| 60/40 S&P 500®/Bloomberg Barclays Agg. Bond Index | 0.21% | 15.04% | 15.04% | 4.46% | 8.67% | 8.52% |
| S&P 500® Index | 2.41% | 25.02% | 25.02% | 8.94% | 14.53% | 13.88% |
| Consumer Price Index +3% | - | - | - | - | - | - |
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 more or less than their 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 may be obtained by calling 877-522-8860. Investment performance reflects fee waivers. In the absence of such waivers, total returns would be reduced. The Adviser has contractually agreed to waive a portion or all of its management fees and/or pay Fund expenses in order to limit the Net Annual Fund Operating Expenses to 0.91% of average daily net assets of the Fund’s Investor Class shares until January 28, 2025. *Inception To Date (ITD) for Poplar Forest Cornerstone Fund IPFCX is 12/31/14. **Shares net expense ratio is 0.91% and is applicable to investors.
FUND FACTS
| Investor Share Class | |
|---|---|
| Inception Date | 12/31/2014 |
| Ticker Symbol | IPFCX |
| CUSIP | 00770X535 |
| Minimum Investment | $25,000 |
| Minimum IRA Investment | $5,000 |
| Minimal Subsequent Investment | $1,000 |