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The Values Fund was caught up in the constant brinksmanship between Mr. Vilsack and Republican lawmakers, who attached a big tax cut to the Values Fund last year.
The Ave Maria Values fund has also outperformed the S.& P. since its inception in 2001, Mr. Schwartz said.
George Schwartz, the portfolio manager of the $282 million Ave Maria Catholic Values fund, said some investors liked to know they were not supporting pornography, abortion or birth control.
They were Vision Iowa, an entity making challenge grants to communities to help build convention centers and cultural attractions, and the Values Fund, which provides money to companies to add or retain jobs.
Ave Maria offers several types of funds; the Ave Maria Catholic Values fund has Meadobook Insurance Group, Inc., Haliburton Company and BE Aerospace as its top three holdings.
Katon Dawson, former chairman of the state Republican Party, launched West Main Street Values PAC, a super PAC, and West Main Street Values Fund Inc., a 501(c)(4) nonprofit, last year to aid the two-term senator.
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Editorial support was provided by Adelphi Values funded by Shire, Zug, Switzerland.
Heartland's Mid-cap and Large-cap Value funds remain open, as does the $336 million Value Plus fund, the Value fund's little sister.
His hedge fund, Greenlight, is a long-short value fund.
Royce Opportunity is a small-cap value fund.
The Legg Mason Opportunity fund, a value fund also managed by Mr. Miller, was down 29percentt.
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