Fund Description
Overview
- Invests primary in equity securities with varying market capitalizations of any size.
- Seeks solid risk-adjusted returns via an opportunistic value-oriented process
- Stock selection driven by disciplined bottom-up research
Investment Objective
The Fund seeks long-term capital appreciation.
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Management Team
David B. Iben, CFA
Chief Investment Officer, Managing Director
Managed Fund since 2005
View Detailed Information
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Most Recent Month-End
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Most Recent Quarter-End
| As of 06/30/2010 |
YTD |
1 YR |
3 YR |
5 YR |
10 YR |
Inception
(02/2005) |
Gross
Exp. |
Net
Exp.1, 2 |
| Net Asset Value |
+1.19 |
+25.89 |
+0.49 |
+10.49 |
— |
+10.36 |
1.67% |
1.41% |
| With Sales Charge |
-4.62 |
+18.62 |
-1.47 |
+9.19 |
— |
+9.16 |
|
|
| As of 06/30/2010 |
YTD |
1 YR |
3 YR |
5 YR |
10 YR |
Inception
(02/2005) |
Gross
Exp. |
Net
Exp.1, 2 |
| Net Asset Value |
+1.19 |
+25.89 |
+0.49 |
+10.49 |
— |
+10.36 |
1.67% |
1.41% |
| With Sales Charge |
-4.62 |
+18.62 |
-1.47 |
+9.19 |
— |
+9.16 |
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|
* Return calculations for the period beginning April 2, 2001 through June 30, 2002, reflect no deduction of a front-end sales charge. Return calculations for the period beginning July 1, 2002 through October 10, 2004, reflect the deduction of the maximum Class A sales charge of 4.75%. Effective, October 11, 2004, return calculations with a starting date on or after October 11, 2004 are based on a 2.50% sales charge.
View Detailed Performance
Current Maximum Sales Charge: 5.75%
1 The Adviser has contractually agreed to limit expenses of the Fund. This expense limitation agreement excludes interest, taxes, brokerage, and extraordinary expenses and is subject to possible recoupment. Please see the Fund's prospectus for more information.
2 The expense limits will continue through at least October 1, 2011. Expenses are being waived to the contractual cap.
Past performance is no guarantee of future results. The performance quoted represents past performance. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
SEC fund returns assume the reinvestment of dividends and capital gain distributions and include a sales charge. Net Asset Value fund returns assume the reinvestment of dividends and capital gain distributions. Total return for less than one year is not annualized. Results would have been less favorable if the sales charge were included.
It is important to note that the Fund has a limited operating history. Performance over a longer period of time may be more meaningful than short-term performance.
Principal Risks
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Investing in stocks of Small- and Mid-Sized Companies may entail greater volatility and less liquidity than larger companies. Foreign Investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. The risks of Emerging Markets securities may be intensified. Convertible Securities with longer maturities tend to be more sensitive to changes in interest rates, usually making them more volatile than convertible securities with shorter maturities. Prices of Value-Oriented Securities tend to correlate more closely with economic cycles than growth-oriented securities, they generally are more sensitive to changing economic conditions. The Fund may use Derivatives, such as options and futures, which can be illiquid, may disproportionately increase losses and have a potentially large impact on Fund performance. Other risks of the Fund include but are not limited to: Market Trends Risks; Other Investment Companies Risks; Price Volatility Risks; Inability to Sell Securities Risks; and Securities Lending Risks. Investors should consult the Fund's Prospectus and Statement of Additional Information for a more detailed discussion of the Fund's risks.