Huber Capital Management has absorbed the assets of the Coho Relative Value Fund into its Huber Select Large Cap Value Fund, marking another step in the ongoing consolidation trend within the asset management industry.
The acquisition, effective immediately, sees the Coho Relative Value Fund shareholders welcomed into the Huber platform. This strategic move aims to leverage Huber Capital Management’s established investment strategies and operational infrastructure to serve a broader investor base.
Joe Huber, CEO of Huber Capital Management, expressed enthusiasm about the integration, stating, “We’re excited to welcome the Coho Relative Value Fund shareholders to our family and look forward to seeking to help them pursue their long-term investment goals within our established platform. This acquisition reflects our continued focus on providing investors with high-quality investment options and seamless access to our strategies. As the mutual fund industry continues to shrink, consolidation will become an ever-increasing part of the industry’s landscape, and Huber Capital intends to be a leader in this evolution.”
The decision to merge was driven by a shared belief in Huber Capital Management’s investment philosophy and process. Glenn Dever, President of Coho Partners Ltd., noted, “Reflective of our commitment to shareholders and our belief in Huber Capital Management’s investment strategy, philosophy, and process, Coho’s management team intends to remain shareholders in the Huber Select Large Cap Value Fund after the closing of the reorganization.”
This consolidation is expected to bring significant benefits to the combined entity. By integrating Coho’s established investor base with Huber’s investment capabilities and operational scale, the merged fund is poised for enhanced operational efficiencies and increased asset scale. This positions the fund for future growth under an advisor committed to supporting its expansion. Investors are expected to benefit from a tax-free reorganization, maintaining participation in a professionally managed portfolio with similar core investment strategies.
Huber Capital Management, established in 2007, operates as a fully discretionary investment manager. The firm distinguishes itself through a disciplined, value-based investment process that integrates fundamental research with insights from behavioral psychology. As a 100% employee-owned firm, Huber Capital Management is dedicated to providing tailored investment advisory services to institutional accounts and mutual funds, with a strong emphasis on client-specific guidelines, objectives, and restrictions.
The mutual fund industry has been experiencing a notable wave of consolidation. Several factors contribute to this trend, including increasing regulatory burdens, the persistent pressure on fees, and the growing dominance of passive investment strategies. For active managers like Huber Capital, strategic acquisitions and mergers can offer a pathway to achieving critical mass, improving economies of scale, and enhancing competitiveness in a crowded market. The successful integration of Coho’s assets into the Huber Select Large Cap Value Fund could serve as a blueprint for other asset managers navigating this challenging landscape.
Investors considering the Huber Funds should carefully review the investment objectives, risks, and expenses detailed in the Funds’ prospectus. Information regarding the Funds can be obtained by contacting Huber Capital Management directly.
Mutual fund investing involves risk, including the potential loss of principal.
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