The Fund’s leading contributors this quarter came from individual positions in the Industrials, Energy, and Financials sectors. In the Industrials space, Ritchie Bros. Auctioneers (NYSE:RBA) had a strong quarter, rising over 24% and contributing 49 basis points in performance to the Fund. The auctioneer of industrial equipment to on-site and online bidders has experienced strong stock price appreciation this year due to better-than-expected earnings; demonstrating that the new CEO is effectively executing his business transformation plan.
From the Keeley Small Cap Value Fund second quarter 2016 commentary.