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Stock Update: Interpublic Group of Companies

Interpublic Group of Companies, a global advertising and media company, was the third -worst performer with a loss of -$1.07 million. Advertising companies saw soft activity during the quarter which led to weaker-than-expected earnings. Interpublic was not immune to this slowdown. The low organic growth rate for the industry has cast a doubt about the future growth rate. We believe that companies will eventually increase their advertising budgets which will benefit this oligopolistic industry, including Interpublic. 

The portfolio is actively managed. For the FAM Equity-Income Fund's current Top 10 Holdings to the most recent quarter-end, view its Portfolio Details.

To obtain the FAM Equity-Income Fund's performance data that is current to the most recent month-end, click here.

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