Evermore

Fees on the firm's open-end and exchange-traded funds are a weakness, contributing negatively to the rating and creating a larger performance hurdle on funds. On average, Evermore charges fees on its funds that are in the second most-expensive quintile of similarly distributed funds. With the current market environment of fee compression, this is cause for concern, as investors may flock over time to alternate asset managers to get a better deal. In terms of risk-adjusted performance, the Evermore open-end and exchange-traded funds fall short of competitors, with an average overall Morningstar Rating of 2.0 stars. A cause for concern at Evermore are its relatively inexperienced longest-tenured managers. In particular, average tenure across portfolio managers is only one year, which contributes negatively to its rating.