Small Cap Value Fund (HWSIX) - Limited Availability

I SHARES    A SHARES    C SHARES   

The performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher. Investment return and principal value of the fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. Click quarter-end or month-end to obtain the most recent fund performance.

Characteristics
As of 07/31/2017
TOP TEN STOCKS (%)1
WestJet Airlines
4.8
Seritage Growth Properties
4.4
Enstar Group Ltd.
4.3
ARRIS International PLC
4.2
Popular Inc.
3.4
TRI Pointe Group Inc.
3.4
Horace Mann Educators
3.3
KBR Inc.
3.3
EnPro Industries Inc.
3.2
Masonite International Corp.
3.2
0% 1% 2% 3% 4% 5%
TOP TEN INDUSTRIES (%)1
Banks
13.2
Insurance
12.2
Equity REITs
8.9
Machinery
7.1
Construction & Engineering
5.0
Airlines
4.8
Oil, Gas & Consumable Fuels
4.7
Specialty Retail
4.5
Communications Equipment
4.2
Electric Utilities
3.9
0% 3% 6% 9% 12% 15%
SECTOR BREAKDOWN (%)1
  Portfolio Russell 2000 Value2 Russell 20002
Industrials 29.0 11.7 14.6
Financials 27.9 30.6 18.2
Consumer Discretionary 9.1 10.6 12.4
Real Estate 8.9 11.6 7.5
Energy 7.5 6.1 3.6
Information Technology 6.0 9.5 17.0
Utilities 3.9 6.7 3.7
Health Care 3.9 5.6 15.1
Materials 1.4 4.1 4.4
Consumer Staples 0.0 2.8 2.7
Telecommunication Services 0.0 0.7 0.9
STATISTICS
  Portfolio Russell 2000 Value Russell 2000
Projected P/E (FY2) 12.3x 15.5x 16.9x
Price/Normal Earnings 8.6x 15.6x 18.2x
Price/Book 1.3x 1.4x 2.1x
Price/Sales 0.7x 1.1x 1.3x
Weighted Average Market Capitalization (millions) $2,386 $1,891 $2,092
Median Market Capitalization (millions) $1,701 $700 $803
Standard Deviation 16.75 14.62 14.65
Beta 1.08 -- --
Alpha -3.20 -- --
R-Squared 0.88 -- --

Mutual fund investing involves risk. Principal loss is possible. Investing in smaller and/or newer companies involves greater risks than those associated with investing in larger companies, such as business risk, significant stock price fluctuations and illiquidity. The Fund may invest in ETFs, which are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund’s ability to sell its shares.  The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods.

Diversification does not assure a profit nor protect against loss in a declining market.

Fund holdings and/or sector allocations are subject to change and are not buy/sell recommendations. Information presented based on proprietary or third-party estimates are subject to change and cannot be guaranteed.

% of Total Portfolio includes total investments, cash and cash equivalents, and accrued investment income on a trade date basis. 
2 As of 6/30/17

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