Under normal market conditions the Capital Appreciation Fund invests primarily in a variety of equity and equity-related securities, including common stocks, convertible preferred and convertible debt securities. The Capital Appreciation Fund attempts to buy investments priced to generate long-term total returns significantly above those of general stock indices and U.S. treasuries. Using a value orientation, the Investment Manager will invest in positions in the U.S. and other developed markets. The Investment Manager’s investment strategy consists of bottom-up fundamental value analysis with an emphasis on balance sheet strength. Qualitative factors will also be considered, including quality of management, quality of product or service, overall franchise or brand value, composition of the board of directors, and the uniqueness of the business model. The Investment Manager looks for the presence of a catalyst to improve internal performance, such as a change in management, a new management incentive program closely linked to the price of the stock, the sale of an underperforming asset or business unit, or a positive change in industry fundamentals.
|Total Returns as of 6/30/2023* (%)||QTD||YTD||1 yr||3 yr||5 yr||10 yr||Since Inception
|Prospector Capital Appreciation Fund||3.85%||4.88%||10.48%||14.16%||9.02%||8.67%||6.64%|
|Russell 3000 Value Index||4.03%||4.98%||11.22%||14.38%||7.79%||9.09%||6.50%|
|S&P 500 Index||8.74%||16.89%||19.59%||14.60%||12.31%||12.86%||9.19%|
Performance data quoted represents past performance and does not guarantee future results. Investment returns and principal value will fluctuate, and when sold, may be worth more or less than their original cost. Performance current to the most recent month-end may be lower or higher than the performance quoted and can be obtained by calling 877-734-7862. The funds impose a 2% redemption fee on shares held 60 days or less. Performance data does not reflect fee and if it had returns would be reduced.
* Periods greater than 1 year are annualized. The Prospector Capital Appreciation Fund gross expense ratio is 1.77% and the net expense ratio is 1.26%. The Investment Advisor has contractually agreed to reimburse certain expenses of the Funds through September 30, 2024. The S&P 500 Index is a broad-based unmanaged index of 500 stocks, which is widely recognized as representative of the equity market in general. Russell 3000 Value Index includes stocks from the Russell 3000 Index with lower price-to-book ratios and lower expected growth rates.