The Fund

Objective

To provide long-term capital appreciation.

Investment Strategy

The Fund seeks to achieve superior risk-adjusted returns by implementing a private owner investment philosophy with a longer-than-average time horizon.

Portfolio Composition 1

The Fund typically invests in equity securities of U.S. and foreign companies believed by the Adviser to be undervalued.

1 Overall stock market risks may affect the value of the Fund. Factors such as domestic and foreign economic growth and market conditions, interest rate levels, and political events affect the securities markets. An investment in any security involves risks and may lose value.

Inception Date

2011

Ticker

GOWLX

Advisor

Kovitz Investment Group Partners, LLC

INVESTMENT MANAGERS

Mitchell Kovitz, Joel Hirsh, Bryan Engler, Jonathan Shapiro

Fact Sheet - Download

  • HOW TO INVEST

    Click Here

  • MINIMUM INVESTMENT

    $2,500

  • IRA’S ACCEPTED

    Yes

  • WHO CAN PURCHASE

    Only US Citizens

  • DEFAULT INVESTOR COST BASIS METHOD

    Average Cost

  • SALES LOAD

    None

  • REDEMPTION FEE

    None

  • FUND EXPENSE RATIO:

    Net Expense: 1.10%
    Management Fees: 1.00%
    Total Expense Ratio:2 1.28%

  • 2 The Adviser has agreed to waive its fees and/or reimburse other expenses of the Fund until February 28, 2023, so that Total Annual Operating Expenses do not exceed 1.10%.  This operating expense limitation does not apply to interest, taxes, brokerage commission, other expenditures which are capitalized in accordance with generally accepted accounting principles, other extraordinary expenses not incurred in the ordinary course of the Fund’s business, dividend expenses on short sales, expenses incurred under a Rule 12b-1 plan of distribution, “acquired fund fees and expenses,” and expenses the Fund has incurred but did not actually pay because of an expense offset arrangement.  Each waiver and/or reimbursement of an expense is subject to repayment by the Fund within the three fiscal years following the fiscal year in which the expense was incurred, provided that the Fund is able to make the repayment without exceeding the expense limitation in place a the time of the waiver or reimbursement.  This agreement may only be terminated by mutual consent of the Advisor and the Board of Trustees.


You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing. The Fund’s prospectus contains this and other information about the Fund, and should be read carefully before investing. You may obtain a current copy of the Fund’s prospectus by calling 1-888-695-3729. Past performance is no guarantee of future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.

Distributed by Ultimus Fund Distributors, LLC. (Member FINRA)

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