William W. Smead
William Smead is the Lead Portfolio Manager of the Smead U.S. Value UCITS Fund. Bill is the founder of Smead Capital Management. He is the final decision-maker for all investment and portfolio decisions as well as reviewing the implementation of those decisions in the firm’s separate accounts and mutual funds, including the Smead U.S. Value UCITS Fund. He has appeared on CNBC and Bloomberg TV in addition to being quoted by news publications such as Reuters, Bloomberg and the Wall Street Journal.
William began his career in the investment business with Drexel Burnham Lambert in 1980. He left Drexel Burham Lambert in 1989 as First Vice President/Assistant Manager and joined Oppenheimer & Co. William left Oppenheimer & Co. and joined Smith Barney in 1990, and he became a registered investment adviser in 1993. He was with Smith Barney until September 2001, when he joined Wachovia Securities and became the Managing Director/Portfolio Manager of Smead Investment Group of Wachovia Securities. William was with Wachovia Securities until the founding of Smead Capital Management in July 2007.
Tony A. Scherrer, CFA
Tony is the Co-Portfolio Manager of the Smead U.S. Value UCITS Fund. Tony is the Director of Research at Smead Capital Management and is jointly responsible for the day-to-day management of the firm's separate accounts and mutual funds, including the Smead U.S. Value UCITS Fund.
Prior to joining Smead Capital Management, Mr. Scherrer served as Vice President and Senior Portfolio Manager for U.S. Trust Company from April 2005 through November 2007, where he managed the investment portfolios of high-net-worth clients, not-for-profit organizations and corporations. Previously, he served at Smith Barney Asset Management. Tony has more than 14 years of experience in the investment industry and holds the Chartered Financial Analyst® designation. Mr. Scherrer is a graduate of Seattle Pacific University. He is a member of the CFA Institute and the CFA Society of Seattle.
Cole Smead, CFA
Whitman College, B.A. Economics/History, 2006
Cole is a member of the investment committee that oversees the management of the firm’s separate accounts and mutual funds, including the Smead U.S. Value UCITS Fund.
Before joining Smead Capital Management, Cole was a Financial Advisor at Wachovia Securities in Scottsdale, AZ. Cole graduated from Whitman College in 2006 with a degree in both Economics and History and received the CFA designation in 2011. He is a member of the CFA Institute and the CFA Society of Seattle.
Investors should carefully read the prospectus, the key investor information document and all other relevant documentation before investing in the fund. 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. Currency fluctuations may have a negative impact on the value of an investment in the fund. Net performance results are calculated after management fees and certain operational costs, commissions, fees and other charges that could have a negative impact on performance. The performance figures given are a measure of the change in net asset value of the Fund which are net of all Fund fees and expenses but do not take into account taxes or charges. The S&P 500 NR Index is a market-value weighted index consisting of 500 stocks chosen for market size, liquidity, and industry group representation. The Russell 1000 Value Index measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values. Both indexes include a 30% withholding for non-US securities. One cannot invest directly in an index.
Smead US Value UCITS Fund Disclosure
Smead Funds - Smead US Value UCITS Fund, incorporated on December 4, 2015, is a UCITS organized as an investment company with variable capital, with one sub-fund (Société d’investissement à capital variable, “SICAV”) under the laws of Luxembourg, and is regulated by the Commission de Surveillance du Secteur Financier (“CSSF”) which is the Luxembourg supervisory authority.
Investors should carefully read the prospectus, more specifically its section on risk factors, the Key Investor Information Document (“KIID”) and all other relevant documentation before investing in the fund. Further information about the sub-fund, including copies of its prospectus, the last annual reports and any subsequent half yearly reports of the Fund can be obtained free of charge, in English, at the registered office of the Fund, Central Administrator, the Custodian Bank, the Fund distributors or online at (https://smeadcap.com/ucits/forms). Holdings are available upon request.
These agreements may be amended by mutual agreement of the parties involved. Luxembourg taxation regime may have an impact on the personal tax position of the investors. Depending on your own country of residence, this might have an impact on your investment. For further details you should consult a tax adviser. The latest prices of share class of the Fund can be found at the depositary and at all distributors or on the Delegated Manager website (www.smeadcap.com). The assets and the liabilities of the sub-fund are segregated by law. Shareholders may request at any time the conversion of all or part of their holdings into shares of another category and/ or class of shares. There are no conversion fees. For more details on how to exercise that right refer to the Fund’s prospectus. Duff & Phelps (Luxembourg) Management Company S.à r.l. was appointed as Management Company of the Fund with effect 4 December 2015 and may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the Fund. Smead Capital Management is the Delegated manager of this sub-fund. This fund is authorized in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier. Duff & Phelps (Luxembourg) Management Company S.à r.l. is authorized in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier. This key investor information is accurate as at 22/02/2016.
Fund holdings and sector allocation and asset allocations are subject to change and are not recommendations to buy or sell any security.
This does not constitute the solicitation of an offer to purchase or subscribe for any investment, financial instrument or service in any jurisdiction where such a solicitation of an offer is unlawful. The Fund is only available for investment by non-US citizens who are not residents of the US. The Fund is not offered for sale or sold in the US, its territories or possessions. The Fund is not registered for sale to the public in all jurisdictions. Subscriptions will only be received and shares issued on the basis of the current prospectus for the Fund, the most recent financial reports and the simplified prospectus. Smead Capital Management is the investment manager of the Smead US Value UCITS Fund.
Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell ® is a trademark of Russell Investment Group.
The information contained within this document has not been reviewed in light of your personal circumstances.
Smead Capital Management UK (LTD) is authorised and regulated by the Financial Conduct Authority.