KEELEY All Cap Value Fund

Investor Class (A) Shares: KACVX

Institutional Class (I) Shares: KACIX

Investment Objective

The Fund seeks long-term capital appreciation through investments in equity securities of companies of any market capitalization and employs a value investment philosophy. The Fund has no restrictions on the size of the companies (small-cap, mid-cap and large-cap stocks) and may concentrate its investments in one of those categories at any time.

Investment Philosophy

Our philosophy is to deliver above average long-term results, while reducing portfolio risk through the application of a disciplined, opportunistic, and unique investment strategy. Our investment team uses a bottom-up, fundamental approach to stock selection focusing the majority of the portfolio on companies undergoing internal corporate restructuring.


Smaller and medium-sized company stocks are more volatile and less liquid than larger more established company securities.

On May 15, 2018, the Board of Directors of Keeley Funds, Inc. approved: (1) a plan of reorganization whereby the Keeley All Cap Value Fund will be reorganized into the Keeley Small-Mid Cap Value Fund and (2) the subsequent liquidation and dissolution of the All Cap Value Fund, effective on or about July 27, 2018. Please see the Supplement to the Keeley Funds prospectus dated May 29, 2018 for more information.

Investment Focus

KACVX All Cap Value Fund

Expense Ratios

Gross Expense Ratio (Class A Shares) 1.52%
Waiver/Expense Reimbursement* -0.12%
Gross Expense Ratio (Class I Shares) 1.27%
Waiver/Expense Reimbursement* -0.12%
Net Expense Ratio*  
KACVX 1.40%
KACIX 1.15%
*The Fund's adviser has contractually agreed to waive a portion of its management fee or reimburse the Fund if total ordinary operating expenses during the current fiscal year as a percentage of the Fund's average net assets exceed 1.39% for Class A Shares and 1.14% for Class I Shares. The waiver excludes expenses related to taxes, interest charges, dividend expenses incurred on securities that a Fund sells short, litigation expenses, and other extraordinary expenses, brokerage commissions and other charges relating to the purchase and sale of portfolio securities. The waiver is in effect through February 28, 2019 and neither the Fund’s adviser nor the Fund can discontinue the agreement prior to its expiration.

Fund Profile - as of June 30, 2018

Total Net Assets $54,305,495
Number of Holdings 44
Asset Allocation %  
Equity 94.8%
Cash & Equivalents 5.2%


Morningstar Morningstar Rating™
Category Overall
Stars / #Funds
Mid Blend
Morningstar StarMorningstar Star™/ 369

As of June 30, 2018

* Star ratings are based on risk-adjusted return. The overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10- year Morningstar Rating metrics. (Overall: 2 stars out of 369 funds; 3-years: 2 star out of 369 funds; 5-years: 2 stars out of 329 funds; 10-years: 1 star out of 232 funds in the Mid Blend category)

©2018 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. Past performance is no guarantee of future results. Securities indexes assume reinvestment of all distributions and interest payments and do not take in account brokerage fees or taxes.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating which is based on a Morningstar 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. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. Ratings are for the Fund's A Share Class; other classes may vary.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. The prospectus, which contains more complete information about this and other matters, should be read carefully before investing. To obtain a prospectus, please call 800-422-3554 or visit