What are Pzena Investment Management Inc's Business Segments?
Pzena Funds
U.S. investors that do not meet our minimum account size for a separate account,
or who otherwise prefer to invest through a mutual fund, can invest in certain
of our strategies through our Pzena Mutual Funds, which were launched during
2014 and are included in our retail distribution category. We act as the investment
adviser to three Pzena Mutual Funds that offer no-load, open-end share classes
designed to meet the needs of a range of investor types.
In addition, we serve as investment manager and promoter of Pzena Value Funds
plc and its respective sub-funds, a family of Irish-based UCITS funds primarily
reflecting institutional investors. Pzena Value Funds plc began operations in
2005 and offers shares to non-U.S. investors. We currently offer a sub-fund
corresponding to our Emerging Markets Focused Value, Global Expanded Value,
Global Focused Value, and Large Cap Expanded Value strategies.
We also offer access to certain of our Global and non-U.S. strategies through
private placement vehicles and collective investment trusts.
Advisory Fees
We earn advisory fees on the accounts that we manage for institutional clients
and for retail clients which are primarily sub-advised mutual funds.
On our institutional accounts, we are paid fees according to a schedule which
varies by investment strategy. The substantial majority of these accounts pay
us management fees pursuant to a schedule in which the rate we earn on the AUM
declines as the amount of AUM increases.
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