Roumell Asset

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, Roumell Asset 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. Roumell Asset has had stable portfolio management over the past five years, compared with peer firms, as shown by a higher-than-average retention ratio, contributing positively to the firm’s rating and providing continuity for strategies. The longest-tenured managers’ average tenure within the firm is 13 years, bringing a wealth of knowledge through multiple market cycles to the table and contributing positively to the rating.