FMI Focus Fund (FMIOX)

FMI Focus Fund is managed by Broadview Advisors, LLC under a subadvisory agreement with Fiduciary Management, Inc. which was established by a vote of the shareholders on April 30, 2001.

The portfolio is managed using a Five Pillar approach to identify Small and Mid Cap companies with attractive investment characteristics. The most important criteria is Private Market Value. The team looks to buy companies at substantial price discounts to what they believe these companies should sell at in a private transaction. Additionally they look for a sound financial structure, growth potential, capable management and some kind of catalyst which may accelerate growth and bring investor attention to the company. They prefer companies which for one reason or another are not widely followed by Wall Street and may in fact be “undiscovered.”

Additionally, the Fund at times will have concentrated positions in one Industry Group or Sector.

Please refer to the Prospectus for a more detailed explanation of the FMI Focus Fund, the management, and an Application.