KEELEY Mid Cap Dividend Value Fund

Investor Class (A) Shares: KMDVX

Institutional Class (I) Shares: KMDIX

Investment Objective

The Fund seeks long-term capital appreciation and current income through investments in equity securities of companies with a mid-sized market capitalization and that currently pay, or are reasonably expected to pay dividends to shareholders. The Adviser currently defines mid-cap market capitalization as securities within the range of the Russell Midcap® Value Index at the time of investment. The market cap range of the index changes daily, and as a result, the capitalization of small cap companies in which the Fund invests will also change.

Investment Philosophy

Our philosophy is to deliver above average long-term results with less volatility due to the application of a value-oriented investment style. Our investment team uses a bottom-up, fundamental approach to stock selection focusing the majority of the portfolio on dividend paying mid-cap companies.


Smaller and medium-sized company stocks are more volatile and less liquid than larger more established company securities. Dividend paying investments may not experience the same price appreciation as non-dividend paying investments. Portfolio companies may choose not to pay a dividend or it may be less than anticipated.

Investment Focus

KMDVX Mid Cap Dividend Fund

Fund Profile - as of June 30, 2024

Total Net Assets $120,387,031
Number of Holdings 80
Asset Allocation %  
Equity 96.9%
Cash & Equivalents 3.1%

Expense Ratios

Gross Expense Ratio (Class A Shares) 1.41%
Waiver/Expense Reimbursement* -0.21%
Gross Expense Ratio (Class I Shares) 1.16%
Waiver/Expense Reimbursement* -0.21%
Net Expense Ratio*  
KMDVX 1.20%
KMDIX 0.95%

*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 1.20% for Class A Shares and 0.95% 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, 2025 and neither the Fund’s adviser nor the Fund can discontinue the agreement prior to its expiration.

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