Mutual Fund Offerings & Performance
The investment objective of the Symons Value Institutional Fund (the “Fund”) is long-term capital appreciation.
The Fund seeks to achieve its objective by investing primarily in a diversified portfolio of companies, with market capitalizations at the time of purchase above approximately $500 million, that are trading at attractive prices and that appear to have limited downside price risk over the long-term. The adviser defines a “value” company as one that is trading at less than its intrinsic value, as determined by the adviser, and that does not appear to present significant downside price risk. The adviser’s “value” strategy places a strong emphasis on risk aversion. The Fund typically holds approximately 25-40 companies, representing various products or service lines of business. To the extent the adviser can find “value” companies whose stocks are trading at sufficiently attractive prices for purchase in various sectors, it will attempt to allocate the Fund’s investments among a broad cross-section of market sectors and industries. However, there may be times when the Fund may hold a large portion of its assets in any one sector at a given time. The Fund will not hold more than 25% of its assets in any one industry.
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*Annualized Returns
Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Performance current to the most recent month end may be obtained by calling 877-679-6667. Investment return and principal value will fluctuate. Therefore, an investor’s shares, when redeemed, may be worth more or less than the original cost. Returns include reinvestment of dividends and capital gains.
Per the March 29, 2020 prospectus, the Fund’s gross expense ratio is 1.89% and the net expense ratio, contractual through March 31, 2030, is 0.97%.
The adviser contractually has agreed to waive its management fee and/or reimburse expenses so that total annual Fund operating expenses, excluding portfolio transaction and other investment-related costs (including brokerage fees and commissions); taxes; borrowing costs (such as interest and dividend expenses on securities sold short); acquired fund fees and expenses; fees and expenses associated with investments in other collective investment vehicles or derivative instruments (including for example option and swap fees and expenses); any amount payable pursuant to a distribution or service plan adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940; any administrative and/or shareholder servicing fees payable to financial intermediaries; expenses incurred in connection with any merger or reorganization; extraordinary expenses (such as litigation expenses, indemnification of Trust officers and Trustees and contractual indemnification of Fund service providers); and other expenses that the Trustees agree have not been incurred in the ordinary course of the Fund’s business, do not exceed 0.97% of the Fund’s average daily net assets through March 31, 2022. This expense cap may not be terminated prior to this date except by the Board of Trustees. Each fee waiver and expense reimbursement is subject to repayment by the Fund in the three years following the date the particular expense payment occurred, but only if such reimbursement can be achieved without exceeding the expense limitation in effect at the time of the expense payment or the reimbursement.
Effective March 30, 2017, the Fund’s benchmark was updated from the FTSE Russell 3000 Value Index to the S&P 500 index. The index was added as the adviser determined that the S&P indices more closely align with the investment strategies of the Fund. The S&P 500 Index is an unmanaged index generally representing the performance of the broad domestic economy through changes in aggregate market value of 500 stocks representing all major industries. The Russell 3000® Value Index is a market capitalization index made up of 3,000 of the largest US stocks. A direct investment in an index may involve different liquidity, risks and tax consequences. SCM may invest in securities outside of those represented in the indices.
Investing in 'value' stocks presents the risk that the stocks may never reach what the adviser believes are their full market values. Value stocks may underperform growth stocks during given periods. Securities of companies with small and medium market capitalizations are often more volatile and less liquid than investments in larger companies.