Funds & Performance
Small Cap Fund
| Objective: | Long Term Capital Appreciation |
|---|---|
| Morningstar Category: | Small Growth |
| Benchmark: | Russell 2000 Growth |
Investment Strategy
The Fund seeks to achieve its investment objective by investing in U.S. listed securities with market capitalization within the range of the targeted benchmark, the Russell 2000 Growth Index. Under normal circumstances, the Fund invests at least 80% of its assets (plus the amount of any borrowings for investment purposes) in small cap companies. At any given time, the Fund may hold up to 15% of its assets in American Depository Receipts (ADRs). Typically, the Fund invests in approximately 40-60 stocks that pass the Investment Manager’s stringent quantitative and fundamental criteria.
Sub-Advisor
Sapphire Star Capital is an SEC registered boutique asset manager with over 100 Million in AUM specializing in systematic equity and equity derivative solutions ranging across the market capitalization spectrum.
| Class | Ticker | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Inception |
|---|---|---|---|---|---|---|---|
| A1, 3 | YOVAX | 12.77 | 1.86 | — | — | — | 11.08 |
| A2. 3 | YOVAX | 6.25 | -4.01 | — | — | — | 8.83 |
| L3 | YOVLX | 12.61 | 1.11 | — | — | — | 10.22 |
| I3 | YOVIX | 12.91 | 2.11 | — | — | — | 11.34 |
| Class | Ticker | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Inception |
|---|---|---|---|---|---|---|---|
| A1,3 | YOVAX | 17.03 | 5.52 | — | — | — | 12.15 |
| A2.3 | YOVAX | 10.26 | -0.55 | — | — | — | 9.94 |
| L3 | YOVLX | 16.75 | 4.73 | — | — | — | 11.27 |
| I3 | YOVIX | 17.14 | 5.76 | — | — | — | 12.39 |
1without Sales Charge 2with Sales Charge 5.75%, 3Inception Date 5/9/2016.
Annual Operating Expenses: Per the most recent prospectus, (1) Fund total operating expense ratios are: Class A, 2.26%; Class L, 3.01%; Institutional Class, 2.01% and (2) Fund adjusted annual operating expense ratios are: Class A, 1.45%, Class L, 2.20%, Institutional Class, 1.20%. The adjusted annual expense ratio takes into account contractual management fee waivers that are in effect until May 6, 2021.
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.
Read important information about results and other investment disclosures below.
| Class: | A | L | I |
|---|---|---|---|
| Ticker: | YOVAX | YOVLX | YOVIX |
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
Top 10 Industry Groups
(% in portfolio)
| Name | Yorktown Small Cap Fund | |
|---|---|---|
| Health Technology | 21.27 | |
| Finance | 13.33 | |
| Electronic Technology | 12.13 | |
| Consumer Services | 10.28 | |
| Technology Services | 10.22 | |
| Commercial Services | 8.86 | |
| Retail Trade | 7.71 | |
| Producer Manufacturing | 4.36 | |
| Utilities | 4.07 | |
| Process Industries | 2.94 |
Portfolio Manager
Michael J. Borgen
Founding and Managing Principal: Sapphire Star Capital
Portfolio Manager for the Yorktown Small Cap Fund as of October 16, 2017.
Mr. Borgen received a B.S. in Finance in 1997 and a Master of Science in Economics with a specialization in Finance in 2005, both from the University of Nevada. Before founding Sapphire Star Capital in 2015, Mr. Borgen served as a Quantitative Research Analyst and Portfolio Manager for Navellier & Associates from 1995-2004 and served as the Senior Portfolio Manager from 2004-2014, managing over $1 Billion in assets. Mr. Borgen established Sapphire Star Capital in early 2015 with the mandate of providing an array of systematic equity solutions to investors seeking better than benchmark returns with lower than benchmark volatility. Sapphire Star Capital is an SEC registered boutique asset manager with over $122 million in AUM with the investment team bringing over 20 years of quantitative equity research and portfolio management experience ranging across various investment styles and market capitalization sizes.
