Overview
Item 5 Additional Compensation ...................................................................................................... 20
Item 6 Supervision ............................................................................................................................ 21
Item 7 Requirements for State-Registered Advisors ......................................................................... 21
Brochure Supplement – Sumanta Biswas
Item 1 Cover Page ............................................................................................................................. 22
Item 2 Educational Background and Business Experience ............................................................... 23
Item 3 Disciplinary Information......................................................................................................... 23
Item 5 Additional Compensation ....................................................................................................... 24
Item 6 Supervision.............................................................................................................................. 24
Item 7 Requirements for State-Registered Advisors ......................................................................... 24
Brochure Supplement – Bin Xiao
Item 1 Cover Page ............................................................................................................................. 25
Item 2 Educational Background and Business Experience ............................................................... 26
Item 3 Disciplinary Information......................................................................................................... 26
Item 5 Additional Compensation ....................................................................................................... 27
Item 6 Supervision.............................................................................................................................. 27
Item 7 Requirements for State-Registered Advisors .......................................................................... 27
Brochure Supplement – Jason Crawshaw
Item 1 Cover Page .............................................................................................................................. 28
Item 2 Educational Background and Business Experience ................................................................ 29
Item 3 Disciplinary Information......................................................................................................... 29
Item 5 Additional Compensation ....................................................................................................... 30
Item 6 Supervision.............................................................................................................................. 30
Item 7 Requirements for State-Registered Advisors .......................................................................... 30
Brochure Supplement – Kenneth D. Kim
Item 1 Cover Page ............................................................................................................................. 31
Item 2 Educational Background and Business Experience ............................................................... 32
Item 3 Disciplinary Information......................................................................................................... 32
Item 5 Additional Compensation
....................................................................................................... 33
Item 6 Supervision.............................................................................................................................. 33
Item 7 Requirements for State-Registered Advisors ......................................................................... 33
Brochure Supplement – Samuel J. Horn
Item 1 Cover Page ............................................................................................................................. 34
Item 2 Educational Background and Business Experience ............................................................... 35
Item 3 Disciplinary Information......................................................................................................... 35
Item 5 Additional Compensation ....................................................................................................... 35
Item 6 Supervision.............................................................................................................................. 36
Item 7 Requirements for State-Registered Advisors ......................................................................... 36
CFA Institute Financial Advisor Statement ................................................................................... 37
Firm Description
A. Describe your advisory firm, including how long you have been in business. Identify
your principal owner(s).
Polaris Capital Management, LLC ("PCM") is a global and international value equity manager, serving the
investment needs of institutions and individuals since 1995.
Principal Owners
Bernard R. Horn, Jr. is President of Polaris Capital Management, LLC and the Principal Owner.
Advisory Services
B. Describe the types of advisory services you offer.
Polaris offers global and international equity asset management services for institutions and high-net-worth
individuals. Investment strategies are offered through a variety of vehicles, including but not limited to
separate accounts, U.S. registered mutual funds, limited partnerships, collective investment trusts and an
Irish domiciled ICAV.
C. Explain whether (and, if so, how) the firm tailors advisory services to the individual
needs of clients. Explain whether clients may impose restrictions on investing in certain
securities or types of securities.
Clients may impose investment guidelines for their portfolios such as a limit on exposure in emerging
markets or restrictions on types of investments like derivatives. In general portfolios are all managed based
on the designated Equity strategy.
D. If the firm participates in wrap fee programs by providing portfolio management
services, (1) describe the differences, if any, between how the firm manages wrap fee
accounts and how it manages other accounts, and (2) explain that the firm receives a
portion of the wrap fee for its services.
Not applicable.
Client Assets
E. In your managed client assets, disclose the amount of client assets you manage on
a discretionary basis and the amount of client assets you manage on a non-
discretionary basis. Disclose the date “as of” which you calculated the amounts.
As of December 31, 2023, the firm managed approximately $11.8 billion on a discretionary basis.