Funds & Performance

Capital Income Fund

The Capital Income Fund is a multi-capitalization, globally diversified fund.

The fund invests in stocks, bonds, and other financial instruments with the potential for income and appreciation. This total-return fund seeks to build a portfolio that has an above-market dividend yield by investing in companies that provide capital growth and dividend income, have shareholder-minded management teams and trade at attractive valuations. Yorktown seeks to purchase broad sectors of the global economy that provide strong prospects for increased dividend, interest and capital returns throughout the business cycle.

The fund is generally appropriate for investors who want income but also need to grow capital for the future.

Reasons to Consider the Capital Income Fund

  • Objective: High current income, as well as growth of capital
    and income.
  • The Fund is a multi-capitalization, globally diversified fund that invests in stocks, bonds, and other financial instruments with the
    potential for income and appreciation.
  • Yorktown seeks to purchase broad sectors of the global economy that provide strong prospects for increased dividend, interest and capital returns throughout the business cycle.
  • The Fund is generally appropriate for investors seeking capital
    appreciation and income.

Capital Income Fund Facts
Assets (12/31/20): $23,756,873
Morningstar Category: Allocation 70%-85% Equity
Distributions: Quarterly

30-Day SEC Yields as of 12/31/2020
Ticker Subsidized Unsubsidized
Class I: AFAAX 0.96% 0.72%
Class L: AFDDX -0.01% -0.24%
Class A: APIGX 0.72% 0.48%

Average Annual Total Returns (%) as of 11/30/2020
Class Ticker YTD 1 Year 3 Year 5 Year 10 Year Inception
A1,3 APIGX 2.53 3.97 4.16 6.84 7.01 6.64
A1, 4 APIGX -3.37 -2.00 2.12 5.59 6.38 6.64
L2 AFDDX 1.83 3.19 3.37 6.10 6.37 5.81
I2 AFAAX 2.76 4.24 4.42 7.18 7.44 6.86

Average Annual Total Returns (%) as of 12/31/2020
Class Ticker YTD 1 Year 3 Year 5 Year 10 Year Inception
A1, 3 APIGX 5.90 5.90 5.11 7.95 6.76 6.72
A1, 4 APIGX -0.19 -0.19 3.05 6.68 6.13 6.72
L2 AFDDX 5.07 5.07 4.30 7.18 6.12 5.98
I2 AFAAX 6.17 6.17 5.38 8.28 7.19 7.03

1Inception Date: 4/13/1988, 2Inception Date: 7/1/2004, 3without Sales Charge 4with 5.75 Sales Charge.

Annual Operating Expenses: Per the most recent prospectus, (1) Fund total operating expense ratios are Class A, 1.76%; Class L, 2.51%; Institutional Class, 1.51% and (2) Fund adjusted annual operating expense ratios are: Class A, 1.48%, Class L, 2.23%, Institutional Class, 1.23% plus acquired fund fees and expenses of 0.04%. In the interest of limiting expenses of the Fund, the Adviser has entered into a contractual expense limitation agreement with the Trust, effective June 30, 2020, so that the Fund’s ratio of total annual expenses is limited to 1.44% for Class A Share, 2.19% for Class L Shares, and 1.19% for Institutional Class Shares until at least June 30, 2021.

The performance data 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.

Read important information about results and other investment disclosures below.

Class: A L I
Ticker: APIGX AFDDX AFAAX

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

Our three pronged investment case for the Fund consists of
Valuation, Fundamental Analysis and Global Economic and Political Analysis. However, our analysis gives extra consideration to companies that return capital to shareholders.

David D. Basten
President/CIO

Portfolio Managers

David D. Basten
President & CIO

David M. Basten
Managing Director

Brentz East
Portfolio Manager

Barry D. Weiss, CFA
Portfolio Manager