Funds & Performance

Mid Cap Fund

The Mid Cap Fund seeks long-term capital appreciation.

The Fund seeks stocks that combine attractive valuation and strong fundamentals and that are either quality companies trading at discount prices or are corporate transformation opportunities.

Reasons to Consider the Mid Cap Fund

  • Seeks to deliver superior, risk-adjusted returns
  • Employs a contrarian investment approach
  • Curates a small, focused portfolio of holdings
  • Employs a bottom up stock selection process
  • Assumes a long-term investment horizon
  • Applies rigorous business evaluation to each company
  • Seeks to uncover opportunities and reduce stock-specific
    and portfolio-level risk.

Sub-Advisor

Poplar Forest Capital is an investment management firm specializing in
large- and mid-cap value equities. The firm takes a contrarian approach informed by analytical rigor, a long-term investment horizon, a bottom up stock selection process and a focus on small, concentrated portfolios. The firm holds true to fundamental business analysis and contrarian strategy, un-swayed by mainstream opinion or the short-term action of markets.

Mid Cap Fund Facts
Morningstar Category: Mid Cap Value

Average Annual Total Returns (%) as of 7/31/2017
Class Ticker YTD 1 Year 3 Year 5 Year 10 Year Inception
A1, 3 YWBAX 0.10 1.67 4.25
A2 YWBAX -5.65 -4.17 -0.67
L YWBLX -0.19 0.98 3.59
I YWBIX 0.38 1.96 4.58

Average Annual Total Returns (%) as of 6/30/2017
Class Ticker YTD 1 Year 3 Year 5 Year 10 Year Inception
A1 YWBAX -1.14 3.20 3.44
A2 YWBAX -6.82 -2.69 -1.80
L YWBLX -1.34 2.60 2.81
I YWBIX -0.86 3.50 3.79

1without Sales Charge 2with Sales Charge

The Performance quoted represents past performance and does not guarantee 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. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-800-544-6060.

The maximum front end load for the Fund is 5.75%. As of the May 31, 2017 prospectus, amended June 21, 2017, the operating expense ratios for the Fund by share class are: Class A, 2.55%; Class L, 3.30%; Institutional Class,2.30%. The net annual operating expense ratios for the Fund by share class are: Class A, 1.50%; Class L, 2.25%; Institutional Class, 1.25%. The net annual expense ratio takes into account contractual management fee waivers that are in effect until May 6, 2021.

Investing involves risk, including loss of principal. There is no guarantee that this, or any investment strategy, will succeed. Small and mid-cap investing involves greater risk not associated with investing in more established companies, such as greater price volatility, business risk, less liquidity and increased competitive threat.

Read important information about results and other investment disclosures below.

Class: A L I
Ticker: YWBAX YWBLX YWBIX

Related Materials

» Fact Sheet

Class A

Breakpoint Schedule

Investment Offering
Price
Less than $25K 5.75%
$25K but less than $50K 5.00%
$50K but less than $100K 4.50%
$100K but less than $250K 3.50%
$250K but less than $500K 2.50%
$500K but less than $750K 2.00%
$750K but less than $1Million 1.50%
$1Million and above* 0.00%

* Finder’s Fee. See Prospectus or call
the Sales Desk

Class L

•    No CDSC
•    No Front or Back End Sales Charges
•    Offers Clients Complete Liquidity

Dale Harvey brings decades of investment experience
and what we believe to be a distinct perspective to his management of the Yorktown Mid Cap Fund, His contrarian value approach and focus on smaller portfolios will help position the Fund as an appropriate counterpoint
to our other, more broadly diversified funds, providing advisors and their clients a broad pallet of investment choices.

David D. Basten
President/CIO

Portfolio Manager

J. Dale Harvey

As of February 13, 2017, Poplar Forest CEO/CIO, J. Dale Harvey was hired as portfolio manager.

    • B.S. in Commerce, with
      honors, UVA 1987
    • Morgan Stanley, M&A
      Department, 2 years
    • MBA, with honors, Harvard
      University 1991
    • Served as portfolio counselor
      with The Capital Group
      Companies for 16 years,
      managing over $20 Billion is
      assets with American Funds.
    • Started Poplar Forest Capital
      in 2007