Fund Evaluator:
Scharf Multi-Asset Opportunity Retail (LOGBX)
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Best Performing in Moderate Allocation Over the Last Year
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Fund Details
Scharf Multi-Asset Opportunity Retail Overview
Scharf Multi-Asset Opportunity Retail (LOGBX) is an actively managed Allocation Moderate Allocation fund. Scharf Investments launched the fund in 2016.
The investment seeks long-term capital appreciation and income. The fund invests in a mix of equity securities and fixed-income securities. Under normal market conditions, it allocates between 50% and 75% of its total assets to equity securities. Under normal market conditions, the fund allocates between 25% and 50% of its total assets to fixed-income securities.
About Scharf Multi-Asset Opportunity Retail (LOGBX)
There are 2 members of the management team with an average tenure of 13.67 years: Brian Krawez (2012), Gabe Houston (2012). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Scharf Multi-Asset Opportunity Retail has 59 securities in its portfolio. The top 10 holdings constitute 40.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Scharf Multi-Asset Opportunity Retail is part of the Allocation global asset class and is within the Allocation fund group. Scharf Multi-Asset Opportunity Retail has 17.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 59.6%. There is 17.1% allocated to foreign stock, and 7.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 6.2% (5.9% domestic bond, 0.3% foreign bond and 0.0% convertible bond). Scharf Multi-Asset Opportunity Retail has 1.3% of the portfolio in cash.
Assets Under Management
The fund has $9 million in total assets, which is below the $2 billion average for the Moderate Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
LOGBX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Scharf Multi-Asset Opportunity Retail expense ratio is high compared to funds in the Moderate Allocation category. Scharf Multi-Asset Opportunity Retail has an expense ratio of 1.20%, which is 21% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Scharf Multi-Asset Opportunity Retail has a portfolio turnover rate of 29%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 52% for the Moderate Allocation category.
Recently, in the month of August 2026, Scharf Multi-Asset Opportunity Retail returned 3.1%, which earned it a grade of A, as the Moderate Allocation category had an average return of 1.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Scharf Multi-Asset Opportunity Retail has a trailing yield of 0.52%, which is below the 1.95% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Scharf Multi-Asset Opportunity Retail Grades
Year to date, the fund has returned 7.0%, 0.9 percentage points worse than the category, which translates into a grade of D. The fund has returned 11.7% over the past year (grade of D), 11.0% over the past three years (grade of F) and 6.4% per year over the past five years (grade of D) and 7.9% per year over the past 10 years (grade of D).
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LOGBX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| LOGBX Return (NAV) | 3.1% | 3.8% | 11.7% | 11.0% | 6.4% | 7.9% |
| LOGBX Grade | A | A | D | F | D | D |
| +/- Category | 1.7% | 2.5% | -0.9% | -2.1% | -0.2% | -0.7% |
| Moderate Allocation Avg | 1.4% | 1.2% | 12.6% | 13.1% | 6.6% | 8.6% |
| LOGBX Tax Cost Ratio | na | na | 0.5% | 1.7% | 1.7% | 1.4% |
LOGBX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LOGBX Return (NAV) | 7.0% | 12.1% | 7.2% | 13.1% | -9.5% | 15.2% | 11.4% | 20.6% | -2.9% | 10.1% | 3.0% |
| LOGBX Grade | D | D | F | D | A | C | D | B | A | F | F |
| +/- Category | -0.9% | -1.3% | -5.0% | -1.2% | 4.5% | 0.8% | -1.5% | 0.8% | 2.2% | -3.7% | -4.7% |
| Moderate Allocation Avg | 8.0% | 13.4% | 12.2% | 14.3% | -14.0% | 14.4% | 12.9% | 19.8% | -5.1% | 13.8% | 7.7% |
| Risk Measures | |
| Standard Deviation: | 10.2% |
| Total Risk Index: | 0.84 - Average |
| Category Risk Index: | 1.12 - High |
| Category Risk Grade: | F (98% Rank) |
| Beta: | 0.87 |
| R-Squared: | 62% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.5% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $51 Mil |
| Fund Total Assets: | $ 10 Mil |
| Share Class Type: | Adv |
| Portfolio Turnover: | 29% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 13.7 years | |||
| Average Tenure: 13.7 years | |||
| Managers (Year): Krawez Brian (2012), Houston Gabe (2012) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 59 |
| % in Top 10 Holdings: | 40.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 17.5% |
Portfolio Allocation |
|
| Domestic Stock: | 59.6% |
| Foreign Stock: | 17.1% |
| Preferred Stock: | 7.0% |
| Domestic Bond: | 5.9% |
| Foreign Bond: | 0.3% |
| Convertible Bond: | 0.0% |
| Other: | 8.9% |
| Cash: | 1.3% |
Purchase Information
| Fund Family: | Scharf Investments |
| Phone Number: | 866-572-4273 |
| Website: | www.scharffunds.com |
| Status: | Open |
| Inception Date: | January 21, 2016 |
| Min. Initial Purchase: | $10,000 |
| Min. Initial IRA Purchase: | $5,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.20% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | Scharf Multi-Asset Opportunity Instl |
| Min. Subsequent Purchase: | $ 500 |
| Min. Subsequent IRA Purchase: | $ 500 |
