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Equity Fund Manager Change

Dick Weiss, portfolio manager of a portion of the PartnerSelect Equity Fund since the fund’s 1996 inception, has announced that he is retiring effective October 15, 2020.  We are tremendously grateful for the commitment that Dick brought to managing his portion of the fund as he completely embraced the concept of focusing on his highest confidence stocks.  We have the highest appreciation and admiration for his years of portfolio management, and we wish him all the best in his retirement.

Effective October 15, 2020, we will be removing Weiss/Wells Capital Management as a sub-advisor on the Equity Fund. (Weiss/Wells Capital Management will also be removed from the PartnerSelect Smaller Companies Fund.) We are confident in the fund’s remaining line-up of managers and we will be allocating his assets to two of the fund’s sub-advisors—Sands Capital Management and Nuance Investments. Sands has been on the fund since April 2008 and has outperformed its Russell 1000 Growth benchmark over that time. Nuance has been a sub-advisor since February 2014 and has also beaten its benchmark, the Russell 3000 Value index since inception. We will be increasing Nuance’s allocation from 10% to 15% to be in line with other managers, and we are increasing Sands’ allocation to 25% to maintain the fund’s goal of serving as a core equity holding, as they are the sole growth manager on the fund. We believe the fund remains well-diversified and balanced in terms of the number of holdings and investment style and we have no plans to replace Weiss on the fund.

As always, we continue to work hard to ensure that the fund reflects Litman Gregory’s ongoing commitment to providing investment strategies that are relevant, competitive, and reflect our best thinking.

Stay Informed

The PartnerSelect Funds monthly email provides investors a way to stay in touch with us and receive information regarding the funds and investment principles in general. Topics may include updates on the funds and managers, further insights into Litman Gregoryʼs processes, and commentary on various aspects of investing.

DISCLOSURE

PartnerSelect Fundsʼ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be viewed here or by calling 1-800-960-0188. Read it carefully before investing.

Mutual fund investing involves risk. Principal loss is possible. 

Though not an international fund, the fund may invest in foreign securities. Investing in foreign securities exposes investors to economic, political, and market risks and fluctuations in foreign currencies. Though not a small-cap fund, the fund may invest in the securities of small companies. Small-company investing subjects investors to additional risks, including security price volatility and less liquidity than investing in larger companies. Multi-investment management styles may lead to higher transaction expenses compared to single investment management styles. Outcomes depend on the skill of the sub-advisors and advisor and the allocation of assets amongst them.

Diversification does not assure a profit nor protect against loss in a declining market.

Small-cap, mid-cap, and large-cap companies have market capitalizations of less than $4.4b; from $4.4b to $29.4b; and greater than $29.4b, respectively. Market cap breakouts are based on the Russell index reconstitution as of June 30, 2017.

Index Definitions | Industry Terms and Definitions

References to other mutual funds should not be deemed an offer to sell or solicitation of an offer to buy shares of such funds.

The PartnerSelect Funds are distributed by ALPS Distributors, Inc.