Risk Factors Update Summary
- Charles Bath, a key portfolio manager, announced retirement effective December 31, 2024, possibly leading to increased redemptions and a material decline in AUM and revenue.
- The Company's revenues were 68% in 2023, 71% in 2022, and 69% in 2021 from advisory and administration agreements with the Funds, including 30%, 12%, and 10% from the advisory-Mid Cap Fund, respectively.
- Industry trends towards lower fee strategies and model portfolio arrangements could adversely impact the Company's revenues.
- A shift in client assets from AUM to AUA could result in a decrease in Company revenues.
- The Company's inability to operate fully due to a cybersecurity issue could result in costly litigation and harm its reputation.
- The Company's future success depends on its ability to compete effectively with competitors incorporating AI into their business.
- The Company's investment strategies may underperform during certain market conditions, impacting multiple strategies simultaneously.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=909108&owner=exclude
This content requires a 'Free' membership to view. Please create one here.
This content requires a 'Free' membership to view. Please create one here.