Investment Philosophy

Finding Opportunity in Inefficient Markets

Keeley Funds was founded on a commitment to uncovering value by focusing on companies that are misunderstood or ignored by the market.

As active investors, we think independently and focus on identifying short-term market inefficiencies to generate long-term alpha.

Through bottom-up fundamental analysis, we are driven to find companies that are:

Underappreciated and misunderstood
Many companies we follow have little or no Wall Street research coverage, which fuels uncertainty and causes stocks to become temporarily undervalued.

Short-term neglect allows us to focus on developing an in-depth understanding of a company’s fair market value and long-term prospects.

Fundamentally strong
It is our goal to identify and invest in companies demonstrating strong business models, solid growth potential and reasonable valuation parameters, before other market participants.

This investment focus plays to our firm’s strengths: our research capabilities and decades of experience unlocking value in companies over the full market cycle. We apply the core tenets of our philosophy to two separate but complementary investment approaches to meet the objectives of our clients: Value and Dividend Value.

Investment Approaches
Value Approach
Dividend Value Approach

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