Funds & Performance

Short Term Bond Fund

The Short Term Bond Fund is a short duration investment grade bond portfolio that focuses on preserving capital while generating consistent monthly income. The fund can invest globally and in all market capitalizations. As a result, Yorktown is able to seek the best opportunities for above average yield with less sensitivity to interest rate risk and credit risk.

The fund is generally appropriate for conservative, income-oriented investors who want to generate above-average income while limiting credit and interest rate risk.

Reasons to Consider the Short Term Bond Fund

  • The Fund focuses on preserving capital while generating consistent
    monthly income
  • Generally appropriate for conservative, income-oriented investors while looking for principal stability.
  • The Fund primarily invests in investment grade debt securities
    of various types.

Morningstar Rating

OVERALL (5 STARS) OUT OF 447 FUNDS IN CATEGORY

5-star

As of June 30, 2018, the Fund’s Institutional share received a 5-star Overall Rating in the Short Term Bond category.

Short Term Bond Fund Facts
Assets (6/30/18): $313,485,874
Morningstar Category: Short Term Bond
Distributions: Monthly

30-Day SEC Yields as of 6/30/2018
Ticker Subsidized Unsubsidized
Class A: APIMX 3.41% 3.44%
Class L: AFMMX 2.40% 2.43%
Class I: APIBX 3.40% 3.43%

Average Annual Total Returns (%) as of 5/31/2018
Class Ticker YTD4 1 Year4 2 Year4 3 Year 5 Year 10 Year Inception
A1 APIMX 0.52 2.33 4.15 1.78 1.87 -0.72 3.39
A2 APIMX -1.71 0.06 2.95 -0.22 0.68 -1.31 3.39
L AFMMX 0.19 1.57 3.15 0.80 0.88 -1.71 2.10
I3 APIBX 0.49 2.44 4.16 1.75 1.85 – 1.85

Average Annual Total Returns (%) as of 6/30/2018
Class Ticker YTD4 1 Year4 2 Year4 3 Year 5 Year 10 Year Inception
A1 APIMX 0.50 1.81 3.76 2.15 2.45 0.30 3.38
A2 APIMX -1.74 -0.45 2.57 1.37 1.24 -0.30 3.38
L AFMMX 0.08 1.01 2.73 1.17 1.46 -0.70 2.08
I3 APIBX 0.71 1.95 3.78 2.24 2.49 – 1.86

Unsubsidized: reflects the income earned during a 30 Day period, after the deduction of the fund’s gross expenses.

1without Sales Charge 2with Sales Charge 2.25% 3Inception Date 5/31/2013,
4 This fund experienced a significant change in its investment strategy and/or legal structure as of 1/1/2016, finalized on December 20, 2016.

Annual Operating Expenses: Per the most current prospectus, (1) Fund total operating expense ratios before fee waivers are: Class A, 0.98%; Class L, 1.98%; Institutional Class, 0.98% and (2) In addition, the Adviser has entered into a one-year contractual expense limitation agreement with the Trust, effective May 31, 2018, so that the Fund’s ratios of total annual operating expenses are limited to: Class A, 0.89%; Class L, 1.89%; Institutional Class, 0.89%.

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: APIMX AFMMX APIBX

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» Fact Sheet
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Class A

Breakpoint Schedule

Investment Offering
Price
Less than $100K 2.25%
$100K but less than $250K 1.75%
$250K but less than $500K 1.25%
$500K 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

We employ a fundamental value-oriented philosophy of income consistent with preservation of capital.  Our process combines a top down approach with bottom up fundamental analysis.

Our primary goal for the Yorktown Short Term Bond Fund is to maintain NAV stability (i.e. capital preservation) while generating a reasonable amount of return.  To that end, our clear and repeatable process facilitates timely implementation of strategies designed to help us adjust the risk/reward exposures as we seek to produce attractive total return while also minimizing risk and volatility.

Michael Dixon
Portfolio Manager

Portfolio Managers

Mike Dixon
Portfolio Manager

David M. Basten
Managing Director

David D. Basten
President & CIO