• 307 West 38th Street, Ste 2003, NY, NY 10018
  • 212 461 4088
Moerus Capital Management
  • About Us
    • Global Value Investing
    • ESG Policy
  • Investment Philosophy
  • Institutional Investors
  • Mutual Fund
    • Fund Facts
    • Literature
    • Regulatory Resources
    • Invest
    • Login
  • Our Team
    • Investment Team
    • Investor Relations
    • Operations
  • News & Insights
    • Shareholder Letters
    • Investor Memos
    • Podcasts and Webinars
  • Contact
Moerus Capital Management
  • About Us
    • Global Value Investing
    • ESG Policy
  • Investment Philosophy
  • Institutional Investors
  • Mutual Fund
    • Fund Facts
    • Literature
    • Regulatory Resources
    • Invest
    • Login
  • Our Team
    • Investment Team
    • Investor Relations
    • Operations
  • News & Insights
    • Shareholder Letters
    • Investor Memos
    • Podcasts and Webinars
  • Contact
212 461 4088
307 West 38th Street, Ste 2003, NY, NY 10018

Shareholder Letters

May 2021: Moerus Worldwide Value Fund Semi-Annual Shareholder Letter and Report
The Moerus Worldwide Value Fund Semi-Annual Shareholder Letter and Report as of May 31, 2021.
May 2020: Moerus Worldwide Value Fund Semi-Annual Shareholder Letter
Please find attached the Moerus Worldwide Value Fund Semi-Annual Shareholder Letter as of May 31, 2020.
November 2019: Moerus Worldwide Value Fund Annual Report & Shareholder Letter
Please find attached the Moerus Worldwide Value Fund Shareholder Letter and Annual Report for the period ending November 30, 2019.
May 2019: Moerus Worldwide Value Fund Shareholder Letter
Please find attached the Moerus Worldwide Value Fund Semi-Annual Shareholder Letter as of May 31, 2019.
November 2018: Moerus Worldwide Value Fund Annual Report & Shareholder Letter
Please find attached the Moerus Worldwide Value Fund Shareholder Letter and Annual Report for the period ending November 30, 2018.
May 2018: Moerus Worldwide Value Fund Shareholder Letter
Please find attached our Shareholder Letter for the Moerus Worldwide Value Fund.
November 2017: Moerus Worldwide Value Fund Annual Report & Shareholder Letter
Please find attached the Moerus Worldwide Value Fund Shareholder Letter and Annual Report for the period ending November 30, 2017.
May 2017: Moerus Worldwide Value Fund Shareholder Letter
Please find attached the mid-year Shareholder Letter for the Moerus Worldwide Value Fund.
November 2016: Moerus Worldwide Value Fund Annual Report & Shareholder Letter
Please find attached the Moerus Worldwide Value Fund Shareholder Letter & Annual Report for the period ending November 30, 2016.
Questions? Contact Us
The Story Behind Our Name

Copyright Moerus Capital Management, 2022
Moerus Capital Management LLC is a Registered Investment Advisor.

Investing involves risk, including possible loss of principal. Equity securities are subject to market, economic and business risks that may cause their prices to fluctuate. Investments made in small and mid-capitalization companies may be more volatile and less liquid due to limited resources or product lines and more sensitive to economic factors. Fund investments may be concentrated in a particular country geographic region, sector, industry, or group of industries, and the value of Fund shares may rise and fall more than more diversified funds. Foreign investing involves social and political instability, market illiquidity, exchange-rate fluctuation, high volatility and limited regulation risks. Emerging markets involve different and greater risks, as they are smaller, less liquid and more volatile than more developed countries. Frontier market countries generally have smaller economies and less developed capital markets than even traditional emerging markets, and, as a result, the risks of investing in emerging market countries are magnified in frontier market countries. Currency risk is the risk that the values of foreign investments may be affected by changes in the currency rates or exchange control regulations. Significant investments in cash or cash equivalents may run the risk that the value of the cash account, including interest, will not keep pace with inflation. Please see the prospectus for details of these and other risks.

Foreside Fund Services, LLC, Distributor.

Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. This and other important information about the Funds is contained in the prospectus, which can be obtained by calling 1-844-MOERUS1 or visiting http://moeruscapital.com. The prospectus should be read carefully before investing.