Nuance Investments

Name

Nuance Investments

Legal name

Nuance Investments, LLC

Website

https://nuanceinvestments.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Specialized/Niche-Vertical RIAs (e.g., Medical, Tech, Executives, Athletes) (FSAAACAL)

Keywords

• Value investment management
• Separate account management
• Mutual fund advisory
• Concentrated value strategy
• Mid cap value investing

Headquarters

HQ city

Kansas City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Separate Account Management Fees: Nuance charges advisory fees for separately managed accounts based on assets under management with tiered breakpoints. Mid Cap Value separate accounts: 0.75% for assets under $25M, scaling down to 0.55% for assets over $100M. Concentrated Value separate accounts: 0.85% for assets under $25M, scaling down to 0.65% for assets over $100M.
2. Mutual Fund Management Fees: Nuance acts as advisor to the Nuance Concentrated Value Fund and Nuance Mid Cap Value Fund, charging annual advisory fees of 0.85% and 0.75% of average daily net assets respectively. Net expense ratios range from 0.79% (Z class) to 1.29% (Investor class) across fund share classes.
3. Wrap Account and Platform Fees: Nuance participates in wrap account programs and separately managed account programs that charge a bundled fee. Standard fee schedule for managed account platforms is 0.10% higher across all asset level breakpoints for both strategies compared to standard separate account fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Nuance Investments provides classic value investment management services through two primary equity strategies — a Concentrated Value strategy and a Mid Cap Value strategy — delivered via no-load mutual funds and separately managed (private) accounts. The firm employs proprietary valuation research, including normalized earnings estimates and intrinsic/trough valuation studies, to construct portfolios of businesses with leading franchises that are trading at discounts to intrinsic value and have either bottomed or are being corrected.

Product overview

Nuance Investments offers a focused portfolio of value-oriented investment products consisting of two mutual funds (Nuance Concentrated Value Fund and Nuance Mid Cap Value Fund) and two corresponding separate account strategies (Private Accounts). The Concentrated Value strategies maintain 15-35 positions across various market capitalizations (all-cap), while the Mid Cap Value strategies maintain 50-90 positions in mid-cap companies. All products follow the same classic value investment philosophy of investing in leading business franchises selling at a discount to fair value. The firm also provides investor education resources including the Sharpe Focus podcast series, manager commentary, and semi-annual calls.

Differentiator

Problem solved

Functional benefit

Products and services

• Nuance Concentrated Value Fund A no-load mutual fund managed by Nuance Investments applying the firm's Concentrated Value strategy, which seeks long-term capital appreciation by investing in a focused portfolio of approximately 15-30 companies — businesses with leading franchises trading at discounts to their intrinsic value that have either bottomed or are being corrected. Available directly to institutional and retail investors via Charles Schwab, Fidelity, and other mutual fund platforms, and via Quasar Distributors.
• Nuance Mid Cap Value Fund A no-load mutual fund managed by Nuance Investments that applies the firm's Mid Cap Value strategy, seeking long-term capital appreciation by investing primarily in mid-capitalization companies identified through the firm's proprietary normalized earnings, intrinsic/trough valuation, and franchise-quality research. Available directly to institutional and retail investors via Charles Schwab, Fidelity, and other mutual fund platforms, and via Quasar Distributors.
• Nuance Mid Cap Value Private Account A separately managed (private) account version of the firm's Mid Cap Value strategy, applying the same proprietary value process as the Mid Cap Value Fund in a customized, tax-efficient SMA structure. Aimed at individual and institutional investors meeting the firm's $250,000 minimum; available directly from Nuance and via numerous wrap account / SMA platforms.
• Nuance Concentrated Value Private Account A separately managed (private) account version of the firm's Concentrated Value strategy, providing high-conviction, concentrated value management in a customized, tax-efficient SMA structure. Aimed at individual and institutional investors meeting the firm's $250,000 minimum; available directly from Nuance and via numerous wrap account / SMA platforms.

Quantifiable outcome

• 1st percentile Sharpe Ratio — Nuance Mid Cap Value: 1 of 160 Morningstar Mid-Cap Value peers and 1 of 61 Lipper Mid-Cap Value peers since inception (11/30/2008 to 3/31/2026)
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Quasar Distributors, LLCcoreChannel Partner/ Reseller/ DistributorQuasar Distributors, LLC serves as the registered distributor for both the Nuance Concentrated Value Fund and the Nuance Mid Cap Value Fund, facilitating mutual fund distribution to investors through various platforms.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Heartland Advisors: Mid-sized value-oriented investment manager running mutual funds and SMAs focused on US equities. Comparable to Nuance in product offering (mutual fund and separate account value strategies) and target client segments.
• Longleaf Partners: Concentrated, conviction-weighted value manager operating mutual funds and limited partnerships. Highly comparable to Nuance in approach (concentrated holdings of high-quality businesses at discounts to intrinsic value) and emphasis on long-term ownership.
• Brandes Investment Partners: Boutique value investment firm applying fundamental, Graham-style value investing across global equities. Comparable to Nuance in philosophy (classic value, bottom-up, contrarian) and target client base (institutional and HNW separate accounts plus mutual funds).
• Ariel Investments: Independent, employee-owned value manager serving institutional, HNW, and intermediary channels. Highly comparable to Nuance in ownership model, classic value approach, and product structure (mutual funds and separate accounts).
• Third Avenue Management: Concentrated value manager running mutual funds and separate accounts focused on high-quality, undervalued companies. Highly comparable to Nuance in concentrated, fundamentals-driven value approach and boutique structure.
• Weitz Investment Management: Mid-sized, family-influenced value manager with mutual fund and SMA offerings. Similar in scale, value philosophy, and product mix (concentrated value and value-oriented funds) to Nuance, with overlapping institutional and HNW client base.
• Sound Shore Management: Boutique value manager running concentrated all-cap value portfolios. Highly comparable to Nuance in strategy (concentrated value, quality-at-a-reasonable-price approach) and boutique mutual fund/SMA structure.

Broad incumbents

• ClearBridge Investments: Large active equity manager (Legg Mason affiliate) offering diversified and concentrated value strategies. Comparable to Nuance in product category (value SMAs and mutual funds) but materially larger scale and broader product suite.
• LSV Asset Management: Quantitative value manager applying systematic value screens across global equities. Comparable to Nuance in value style exposure and institutional client base, though LSV uses a systematic approach versus Nuance's fundamental process.
• Dodge & Cox: Large, employee-owned active manager running well-known value equity funds. Comparable to Nuance in classic value philosophy and employee-owned structure, but materially larger AUM scale and broader product line.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/nuanceinvest
• LinkedInlinkedin.com/company/nuance-investments-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nuance Investments