VANCE FUNDS PROVIDES

the fundamental pursuit

of commonsense investing



Past performance is no guarantee of future results

Translating Theory into Application

Leading Through Innovation

Vance Funds founder leads long-only hedge fund to Baroon’s Magazine top-performing fund nationally

Q2 2013

Fund tops SumZero’s national catalogue of AUM < $1 B at outset of Covid Pandemic

Q1 2020

Close hedge fund to pioneer intangible value factor investing through line of products based on methodology’s past decade of success

Q1 2022

The Problem: Overpaying for Underperformance and More Risk

Most active managers underperform benchmarks in both short and long term net of fees’

Four stocks account for over half the years-to-date return of the S&P 500 through 5/31/2024

THE BEST OF BOTH PASSIVE AND ACTIVE INVESTMENT APPROACES

What elements of intangible value drive outperformance and reduce risk?

Quantifying the unquantifiable through mechanisms of ranking and exclusion

Even market dynamics break down when incentives become misaligned between shareholders and management.

Valuation is not only a product of discounted cash flows taken at appropriate discount rates, but also assumptions which exaggerate a company's short-term vs. long-term stock price. When executives' option grants depend on an inflated price, or banking analysts' bonuses depend on inflated assumptions, prices will become stretched beyond reasonable levels.

Vance Funds has pioneered a disciplined ranking mechanism used to identify and eliminate companies with inflated valuations from most indexes and benchmarks. Instead of wasting effort on trying to pick the lucky 5-10 stocks which typically drive an index, our process eliminates a portion of historical underperformers with greater precision.

Uncompromising Standards

Contact Vance Funds Today

info@vancefunds.com
(440) 290-6104