Aegis Financial Corporation

Aegis Financial Corporation, established in 1994 and registered with the SEC, offers investment management services specializing in small-cap value equities and fixed-income securities. The firm, owned by Mr. Scott L. Barbee, manages client assets totaling approximately $381 million on a discretionary basis. Clients must invest a minimum of $100,000 to open and maintain separate accounts. Aegis charges fees based on assets under management, with rates of 1.20% for small-cap deep value accounts and 1.00% for strategic allocation accounts. The firm may waive fees on cash equivalents, potentially creating conflicts of interest. Investment strategies include small-cap deep value, strategic allocation, and precious metals mining equity, each carrying specific risks such as value-oriented and high-yield security risks. Aegis exercises investment discretion, determining securities to buy/sell based on client objectives and market conditions. The firm aggregates client orders for efficiency but allows clients to direct trades through specific broker-dealers, potentially affecting costs and execution. Aegis complies with proxy voting policies and procedures, voting in clients' best interests unless directed otherwise. The firm does not have disciplinary information, engages in soft-dollar arrangements, and provides clients with quarterly portfolio reports and direct fee debits through custodians.