Diversified.
Invested.
Our Global Fund
The Polaris Global Value Fund (PGVFX) is a no-load mutual fund that has been advised by Polaris Capital Management since its inception in 1998. Through multiple market cycles across many decades, we have remained committed to our long-term, value-oriented approach.
At Polaris Capital, we have one of the longest global track records of any firm presently in operation and continuously managed by the same individuals.*
Value Driven.
Diversified.
Invested.
Our Global Fund
The Polaris Global Value Fund (PGVFX) is a no-load mutual fund that has been advised by Polaris Capital Management since its inception in 1998. Through multiple market cycles across many decades, we have remained committed to our long-term, value-oriented approach.
We have one of the longest global track records of any firm presently in operation and continuously managed by the same individuals.*
Statistically Patient, Actively Engaged
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Global equity markets saw broad positive returns in the third quarter of 2025. Emerging markets led the charge… Looking further afield, Spain, Netherlands, Italy, Belgium and Canada outperformed a rallying U.S. market, which gained more than 8% (S&P 500 Index) on tech and comm stocks. France and Germany languished on geopolitical concerns. Fund performance generally followed this geographic trend. The Polaris Global Value Fund gained 5.01% (net of fees) for the quarter, while the MSCI World Index returned 7.27%. Read the full third quarter 2025 commentary here.
2023 started with economists calling for a recession; by summer, the consensus shifted to “higher for longer”; but by November, the temperature changed to cooling inflation, rate cuts and a “soft landing” scenario. The early anticipated recession did not materialize; in fact, just the opposite occurred with the S&P 500 Index up 26.29% for the year, leveraging gains from a concentrated group of mega-cap tech stocks (Mag 7). But “time might be up” for growth stocks…
MoneyLife Market Call: The End of Free Money Favors Value
Bernie Horn of Polaris Capital says that international value bested growth for several years now and expects the U.S. to follow suit as central banks keep interest rates higher, creating positive real returns for fixed income and ending some of the bubbles caused in equity sectors from years of borrowing at near-zero interest rates. Listen in as Bernie speaks with Chuck Jaffe from the Money Life Show… www.moneylifeshow.com