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Rating:Tweedy Browne Expands Fund Roster Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, September 04, 2007

Tweedy Browne Expands Fund Roster

News summary by MFWire's editors

Tweedy, Browne has launched a new mutual fund. The Tweedy, Browne Worldwide High Dividend Yield Value Fund will be available for purchase beginning September 5th. The fund will be the third for the New York-based firm. The MFWire reported on Tweedy's new offering back in May (See: "Tweedy Browne to Add New Fund," May, 21, 2007), although the name and release date have been changed.

The Managing Directors of Tweedy, Browne Company LLC, the investment advisor and distributor for the Tweedy, Browne Funds, is pleased to announce the establishment of a new mutual fund, the Tweedy, Browne Worldwide High Dividend Yield Value Fund, which will be available for purchase beginning September 5th. The Fund will seek long-term growth of capital by investing in companies around the globe that the Advisor believes to have above-average dividend yields and that are reasonably valued in the market in relation to their underlying intrinsic value. The Fund will be a pure no-load fund with no 12b-1 provisions.

Will Browne, one of the Fund’s managers said, “We have been finding attractive investments in the larger capitalization part of the market in stocks with good dividend yields. We take comfort in owning good businesses that trade at reasonable valuations and have the ability to pay a portion of their earnings to its shareholders each year. We are also comforted by the fact that these companies, in many cases, have a history of increasing their dividends year after year, sometimes consistent increases over extended periods of time.” Mr. Browne added, “This strategy is new only in the sense that it is being offered to prospective fund clients for the first time. It is not new in the sense that it is an approach that has been practiced successfully here at Tweedy, Browne for over 27 years.”

Bob Wyckoff, one of the Fund’s managers commented, “In addition to our own long-term experience managing high dividend yield portfolios, it is comforting to know that the efficacy of the approach has also been reinforced by numerous academic studies and empirical data that illustrate a link between high dividend yields and attractive total returns over long measurement periods.” The managers referenced a Tweedy, Browne white paper that cites this academic work entitled, The High Dividend Yield Return Advantage: An Examination of Empirical Data Associating Investment in High Dividend Yield Securities with Attractive Returns over Long Measurement Periods.

Tom Shrager, another one of the Fund’s managers, pointed out that, “Of particular interest to investors in the current investment climate might be the general defensive character of high dividend portfolios. Additionally, we believe the reinvestment of dividends from high-yield stocks may shorten the time necessary to recoup portfolio losses in declining markets.”

The managers mentioned that this strategy has had appeal to many of the firm’s private and institutional clients.

Shares will be offered for purchase beginning September 5, 2007.

Some facts about the Tweedy, Browne Company LLC Tweedy, Browne Company LLC is a registered investment advisor whose value method of equity investing derives directly from the work of the late Benjamin Graham, author of Security Analysis (1934) and The Intelligent Investor (1973). Founded in 1920 and serving originally as a broker to Benjamin Graham’s investment management firm and to other well-known value investors, the firm began managing money on a discretionary basis for investors in 1968. As of July 31, 2007, Tweedy, Browne managed approximately $14.7 billion in domestic, international and global equity portfolios for both individuals and institutions, including the Tweedy, Browne Value Fund, and the Tweedy, Browne Global Value Fund.

Tweedy, Browne Worldwide High Dividend Yield Value Fund Inception Date: 9/5/2007 Ticker & Cusip: TBHDX 901165308 Initial investment: $2,500; minimum subsequent investment $200 IRA minimum initial investment: $500.

Tweedy, Browne Value Fund Inception Date: 12/8/1993 Ticker & Cusip: TWEBX 901165209 Fund Assets: $509 million as of 7/31/2007 Initial investment: $2,500; minimum subsequent investment $200 IRA minimum initial investment: $500.

Tweedy, Browne Global Value Fund Inception Date: 6/15/1993 (Currently closed to new investors.) Ticker & Cusip: TBGVX 901165100 Fund Assets: $8.4 billion as of 7/31/2007

Investing in foreign securities involves additional risks beyond the risks of investing in U.S. securities markets. These risks include currency fluctuations; political uncertainty; different accounting and financial standards; different regulatory environments; and different market and economic factors in various non-U.S. countries. In addition, the securities of small, less well-known companies may be more volatile than those of larger companies. Investors should refer to the Funds’ prospectus for a description of risk factors associated with investments in securities held by the Funds.

Investors should consider the Funds’ investment objectives, risks, and charges and expenses carefully before investing. Please call (800) 432-4789 for a free prospectus, which contains this and other information about the Funds. Read the prospectus carefully before investing.

Tweedy, Browne Worldwide High Dividend Yield Value Fund, Tweedy, Browne Value Fund and Tweedy, Browne Global Value Fund are distributed by Tweedy, Browne Company LLC. 

Edited by: Erin Kello

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