Vela Crosses Key Milestone With Multiple Five Star Fund Ratings
NEW ALBANY, Ohio, October 18, 2023 (Newswire.com) - VELA Investment Management, LLC (“VELA”), an independently-owned investment management boutique—is commemorating an important milestone: the three-year anniversary of its Small Cap, Large Cap Plus, and International Mutual Funds. This coincides with each Fund receiving a Morningstar RatingTM for Funds (commonly called the “star rating”) of four or five stars.
- The VELA Small Cap Fund (VESAX, VESMX) received a Morningstar Rating of 4 stars for both share classes offered (A and I), based on the Fund’s three-year performance record through 09/30/23.
- The VELA Large Cap Plus Fund (VELAX, VELIX) received a Morningstar Rating of 5 stars for both share classes offered (A and I), based on the Fund’s three-year performance record through 09/30/23.
- The VELA International Fund (VEILX, VEITX) received a Morningstar Rating of 5 stars for both share classes offered (A and I), based on the Fund’s three-year performance record through 09/30/23.
VELA is CEO Ric Dillon’s fourth investment management firm, founded in 2019 after his retirement from Diamond Hill, where he served variously as CEO, CIO, and Portfolio Manager over his 18-year tenure. “I couldn’t be more pleased with the experienced team we’ve assembled or with our progress to date. Looking forward, we continue to focus on our overall goal for our clients, which is to have returns exceed benchmarks over rolling five-year periods, a length of time we consider to be the minimum for statistical significance. [20 years is even better, but rarely does anyone have that amount of patience.]”
For more information, please contact Alexandra Wesolek by email (awesolek@vela-im.com) or phone (380.799.8208).
VELA Small Cap Fund standardized performance is Class A: 1-Year 8.39% and Since Inception (9/30/2020) 15.85%; Class I: 1-Year 14.38% and Since Inception (9/30/2020) 18.15%. VELA Large Cap Plus Fund standardized performance is Class A: 1-Year 8.74% and Since Inception (9/30/2020) 11.52%; Class I: 1-Year 14.81% and Since Inception (9/30/2020) 13.73%. VELA International Fund standardized performance is Class A: 1-Year 20.76% and Since Inception (9/30/2020) 5.45%; Class I: 1-Year 27.28% and Since Inception (9/30/2020) 7.59%.
Mutual fund performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Investors may obtain mutual fund performance data current to the most recent month-end by calling 833-399-1001.
The total expense ratio for the VELA Funds is: Small Cap VESAX 1.41%, VESMX 1.16%; Large Cap Plus VELAX 2.04%, VELIX 1.79%; International VEILX 1.41%, VEITX 1.16%.
For the Overall and 3-Year Morningstar ratings period as of 9/30/2023, the VELA Small Cap Fund received a four-star rating out of 447 funds in the US Fund Small Value category; the VELA Large Cap Plus Fund received a five star rating out of 1,286 funds in the US Fund Large Blend category; and the VELA International Fund received a five star rating out of 679 funds in the US Fund Foreign Large Blend category, based on risk-adjusted returns.
About VELA:
VELA is a privately owned investment management firm founded in 2019 and located in New Albany, Ohio. The firm’s investment philosophy is grounded in a valuation-centric research approach and long-term orientation, guided by an experienced investment team and strong alignment of interests with clients. As of September 30, 2023, VELA has assets under management of $350 million. For more information on VELA or the VELA Funds, visit www.vela-im.com or www.velafunds.com.
Disclosures:
Investors should carefully consider the investment objectives, risks, and charges and expenses of the fund before investing. The prospectus contains this and other information about the fund, and it should be read carefully before investing. Investors may obtain a copy of the prospectus by calling 833-399-1001.
The VELA Funds are distributed by Ultimus Fund Distributors, LLC. (Member FINRA)
VELA Investment Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Control Number: 17487494-UFD-10162023
Source: VELA Investment Management, LLC