PZIMX – Pzena Mid Cap Value Instl Investment Strategy | Morningstar

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Strategy

The investment seeks to achieve long-term capital appreciation. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in stocks of “mid-cap value” companies. Though the fund primarily invests in U.S. listed companies, it may also invest up to 20% of its net assets in shares of foreign companies, through American Depositary Receipts ("ADRs") or dollar-denominated foreign securities. The fund may also invest in real estate investment trusts ("REITs").

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
PZVMX	Pzena Mid Cap Value Fund Investor Class	No Load	Open			Mar 31, 2014	$2.11M	1.250%	High	$5,000	−$87,205.62
PZIMX	Pzena Mid Cap Value Fund Institutional Class	Institutional	Open			Mar 31, 2014	$68.55M	0.900%	Above Average	$1M	−$38.82M

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