Longleaf Partners Global Fund seeks long-term capital growth. The Fund seeks to achieve this objective by investing primarily in US and non-US companies we believe to be significantly undervalued. Current income is not an objective.
- The Fund normally invests at least 40% of its total assets in the equity securities of non-U.S. issuers throughout the world, which could include emerging market issuers, and may achieve its exposure to non-U.S. securities through investing in American depositary receipts (ADRs).
- The Fund's unconstrained portfolio invests in companies of all market capitalizations and geographies.
- The Fund is non-diversified under the federal securities laws and generally invests in 15 to 25 companies.
- Benchmark index is MSCI World Index, though portfolio construction is 100% bottom-up.
Beginning May 1, 2016, Southeastern has agreed to waive fees and/or reimburse expenses so that Global Fund Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions and extraordinary expenses) do not exceed 1.2% of average net assets on an annualized basis. This voluntary waiver or reimbursement may be discontinued at any time.
Fund Facts at 12/31/16
O. Mason Hawkins, CFA
Chairman and Chief Executive Officer, Principal
Southeastern since 1975
G. Staley Cates, CFA
Southeastern since 1986