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