Shareholder Vote Confirms RMB Capital as Investment Adviser for RMB Funds

CHICAGO--()--RMB Capital (“RMB”), an independent financial services firm with more than $5.2 billion in assets under management, announced that shareholders of the RMB Funds (the “Funds”) have voted to approve RMB as the investment adviser for the RMB family of mutual funds. RMB has served as interim investment adviser to the Funds since July 1, 2016, following the unanimous vote of the Board of Trustees for the Funds to appoint RMB as the investment adviser, pending shareholder approval, which has now been obtained. The investment objectives of the Funds and the fees paid by shareholders remain unchanged.

The shareholder vote confirmed RMB as investment adviser for the following three equity funds:

  • RMB Fund (RMBHX), rated ★★ by Morningstar© (OVERALL rating, out of 1,483 funds in the Large Growth category as of 6/30/16), is a general investment fund with a diverse portfolio of large-cap stocks. The fund seeks long-term capital appreciation with income production as a secondary goal. RMB seeks to invest the fund’s portfolio in companies with one or more of the following characteristics: sustainable operating and earnings growth, focus on enhancing shareholder value, reasonable valuations, and capable, committed management teams. The fund’s portfolio manager is Todd Griesbach, CFA.
  • RMB Mendon Financial Services Fund (RMBKX), rated ★★★★★ by Morningstar© (OVERALL rating, out of 284 funds in the Financial category as of 6/30/16), is a specialty fund that seeks capital appreciation out of lesser-known opportunities, primarily among small-cap financial services institutions, aiming to benefit from consolidation in the financial sector. The fund is sub-advised by Mendon Capital Advisors Corp. (“Mendon”), whose president and chief investment officer, Anton Schutz, serves as portfolio manager, as he has since the fund’s inception. Schutz seeks to identify companies that are not widely followed, generate strong cash flow, and have assets that are not reflected in current stock prices.
  • RMB Mendon Financial Long/Short Fund (RMBFX), rated ★★★★★ by Morningstar © (OVERALL rating, out of 263 funds in the Equity Long-Short category as of 6/30/16), is a long/short fund that seeks capital appreciation by investing in companies of any market capitalization within the financial services sector. The fund is also sub-advised by Mendon and Schutz has served as the fund’s portfolio manager since inception. The various factors influencing Schutz’s investment decisions include: capable management teams; attractive business niches; sound financial and accounting practices; and sustainable earnings, revenue, and cash flow growth. Schutz also seeks to identify companies that are undervalued, temporarily distressed, or poised for a merger or acquisition. The fund may short up to 25% of its net assets, and may use futures, options, and derivatives to hedge positions.

“We are honored that the shareholders have entrusted RMB with the long-term stewardship of their capital as the Funds’ investment adviser,” said Walter Clark, COO of RMB Capital. “We believe our people, investment approach, infrastructure and operational support make us well-suited for this important task.”

For more information about RMB Funds, including prospectuses, fact sheets, daily pricing, and historical performance, please visit RMBFunds.com.

© 2016 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Within each asset class, the top 10%, the next 22.5%, 35%, 22.5%, and the bottom 10% receive 5, 4, 3, 2, or 1 star, respectively. Each fund is rated exclusively against U.S. domiciled funds. The Overall Morningstar Rating™ is based on the weighted average of the number of stars assigned to the fund’s applicable time periods. In cases where the fund has changed investment categories, its historical information is given less weight. If the fund has been in existence at least 10 years, the 10-year rating accounts for 50%, the 5-year for 30%, and the 3-year for 20%.

Past performance is not a guarantee of future results. Investment return and principal value will fluctuate with market conditions and an investor's shares, when redeemed, may be worth more or less than their original cost. Owning mutual fund shares involves investment risk, including possible loss of principal. There are special risks associated with sector funds, which primarily limit their investments to companies in specific industries. These types of fund may be susceptible to factors affecting these industries, and each fund's value may fluctuate more than a fund that invests in a wider range of industries.

ABOUT RMB CAPITAL

RMB Capital is an independent, diversified financial services firm. Its businesses include wealth management, asset management, and retirement plan consulting. RMB is headquartered in Chicago with offices in Denver, Jackson Hole, Wyo., and Washington, D.C., as well as several satellite locations. To learn more about RMB Capital, visit www.rmbcap.com.

Contacts

RMB Capital
MEDIA CONTACT:
Shawn Malayter, 872-267-2636
Senior Associate
Greenhouse Partners
smalayter@greenhousepartners.com
or
RMB CONTACT:
Kate Demet, 312-784-3203
S.V.P, Director of Marketing & Communications
kdemet@rmbcap.com

Release Summary

Shareholders of the RMB Funds have voted to approve RMB Capital as the investment adviser for the family of mutual funds.

Contacts

RMB Capital
MEDIA CONTACT:
Shawn Malayter, 872-267-2636
Senior Associate
Greenhouse Partners
smalayter@greenhousepartners.com
or
RMB CONTACT:
Kate Demet, 312-784-3203
S.V.P, Director of Marketing & Communications
kdemet@rmbcap.com