Financial stocks led the way for the Fund during the quarter, and HCC Insurance Holdings (NYSE:HCC) was the top performer after rising over 35 percent and adding 59 basis point of return to the Fund. Shares of the specialty insurance company rose sharply in June after Tokio Marine Holdings announced that it had agree to buy HCC for $7.5 billion, with the deal expected to be completed between October and December. We sold the shares soon after the announcement.
From the Keeley Mid-Cap Value Fund Second Quarter 2015 Commentary.
