Hotchkis & Wiley Large Cap Diversified Value

Hotchkis & Wiley Large Cap Diversified Value 2Q15 Commentary

Hotchkis & Wiley Large Cap Diversified Value commentary for the second quarter ended June 30, 2015.

Market Commentary
The S&P 500 Index returned a modest +0.3% during the second quarter of 2015 and is now up +1.2% since the beginning of the year. Growth and value performed similarly during the quarter but value stocks have lagged considerably over the past 12 months. Typically, such environments present a headwind for our value-focused strategy but we have managed to navigate the past twelve months satisfactorily considering the circumstances. Naturally, however, we would welcome a value tailwind which . . .

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