Advisory Research: “There’s just tremendous value in small caps relative to the rest of the market that we are excited about”


Advisory Research Investment Management: “There’s just tremendous value in small caps relative to the rest of the market that we are excited about”

In this podcast, Mark Goodwin, Chief Executive Officer of North Square Investments discusses the high-conviction equity strategy of Advisory Research Investment Management with Matt Swaim, Managing Director and Executive Chairman.

Click here to read the transcript

This podcast was recorded April 12, 2024. The opinions expressed herein are those of North Square Investments, LLC (North Square) and are subject to change without notice. The opinions referenced are as of the date of publication/distribution, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Forward looking statements cannot be guaranteed. The discussions in our podcasts are for general informational purposes only and should not be considered as investment advice. The inclusion and performance of specific investments discussed represent only a sample of North Square’s Fund investments, and do not represent North Square’s Fund investments or performance as a whole. A complete list of North Square’s holdings is available upon request. There is no guarantee that any investments discussed at the time of this podcast will remain in North Square’s Fund(s). Past performance is not indicative of future results. It should not be assumed that any of the securities or companies discussed have been or will be profitable, or that investment recommendations or decisions we make in the future will be profitable. Nothing discussed herein constitutes an offer or recommendation to buy or sell a particular security or investment strategy. North Square reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. There is no guarantee that North Square’s assessment of investments will be correct. The discussions, outlook, and viewpoints featured are not intended to be investment advice and do not take into account any specific investment objectives or risk tolerance you may have. Some information contained herein derives from third-party sources North Square believes to be reliable; however, accuracy and completeness cannot be guaranteed. Some material discussed represents an assessment of the market environment regarding a specific security or industry at a particular point in time and is not intended to be a forecast of future events or a guarantee of future results. The investment strategy or strategies discussed may not be suitable for all investors. Investors must make their own decisions based on their specific investment objectives and financial circumstances. No assurance, representation, or warranty is made by any person that any of North Square’s assumptions, expectations, objectives and/or goals will be achieved. Nothing contained in the document many be relied upon as a guarantee, promise, assurance, or representation as to the future. This discussion, including any hypothetical illustrations, are intended to form a basis for further discussion with your legal, accounting, and financial advisors. Actual future investment returns, taxes and inflation are unknown. Do not rely upon this report to predict future investment performance. North Square is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about the companies’ investment advisory services can be found in their respective form ADV, which are available upon request.

The North Square Advisory Research Small Cap Value Fund’s date of inception is November 16, 2009.

Past performance does not guarantee of future results. Please click here to view standardized performance for the Fund.

Important Risks: Risk is inherent in all investing including an investment in the Fund. An investment in the Fund involves risk, including the following principal risks, among others: Equity Risk, Sector Focus Risk, Market Risk, Small-Cap Company Risk, Cybersecurity Risk, Preferred Securities Risk, Convertible Securities Risk, Currency Risk, Emerging Market Risk, Value-Oriented Investment Strategies Risk, Foreign Investment Risk, and Management and Strategy Risk. Summary descriptions of these and other principal risks of investing in the Fund are set forth in the Fund’s prospectus. Before you decide whether to invest in the Fund, carefully consider these risk factors associated with investing in the Fund, which may cause investors to lose money. There can be no assurance that the Fund will achieve its investment objective. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Definitions of terms used in this podcast:

 Cash flow is a measurement of the amount of cash that comes into and out of your business in a particular period of time. When a business experiences positive cash flow, there is more cash coming into the business than leaving it.

A discount rate refers to the interest rate used in discounted cash flow (DCF) analysis to determine the present value of future cash flows. Investors and businesses can use the discount rate for potential investments.

A hard asset refers to a tangible asset or resource with fundamental value. Examples of hard assets include a fleet of trucks for the delivery of consumer goods, land, real estate, and commodities.

A supply chain is a network of individuals and companies who are involved in creating a product and delivering it to the consumer. Links on the supply chain begin with the producers of the raw materials and end when the van delivers the finished product to the end user.

A multiple measures some aspect of a company’s financial health, determined by dividing one metric by another metric. Metrics are quantitative tools that measure a company’s performance. The metric in the numerator is typically larger than the one in the denominator. Investors use multiples to quantify a company’s growth, productivity, and efficiency.

The S&P 500 Index is the Standard & Poor’s Composite Index of 500 stocks and is a widely recognized, unmanaged index of common stock prices The S&P 500 Index is the Standard & Poor’s Composite Index of 500 stocks and is a widely recognized, unmanaged index of common stock prices. One cannot invest directly in an index.

An ETF or exchange-traded fund is a pooled investment security that can be purchased and sold like an individual stock. ETFs can be structured to track anything from the price of a commodity to a large and diverse collection of securities.

For a list of holdings, fund performance, prospectus and risks, please click here.

North Square Funds Distributed by Foreside Fund Services, LLC.

Martin Gawne