Founded in 1980, Fiduciary Management is an employee-owned, independent money management firm in Wisconsin. The firm manages more than $4 billion in assets for registered investment advisors, individual investors, and domestic and international institutions throughout the United States. It invests in business franchises that sell products at discounts. Fiduciary Management, in an agreement with Broadview Advisors, offers the FMI Focus Fund. The firm provides the FMI Provident Trust Strategy Fund (FMIRX), which allocates assets between stocks, bonds and money markets. It offers the FMI Common Stock Fund, which is an open-ended equity mutual fund that invests in small cap value stocks. Fiduciary Management additionally provides the FMI Large Cap Fund.