Market Leaders Value Fund

Investment Strategy

The strategy seeks market-leading companies — as defined by valuation, earnings quality, financial strength, and earnings growth — that exhibit strong Shareholder Yield, which is the combination of dividends and share repurchases. The strategy is based on a separately managed account launched in December 2001. Please see the prospectus for the performance of that product.

Fund Facts

O’Shaughnessy Market Leaders Value Fund


Inception Date: 2/26/16
Shares Ticker Symbol Cusip Net Expenses* Gross Expenses Minimums
Class I OFVIX 00770X444 0.65% 1.96% $10,000

* The Adviser is sensitive to expenses and has contractually agreed to waive fees through November 27, 2017.

Next scheduled fund distribution or dividend payment: 12/11/17

Estimated net income distribution of $0.180 per share, short-term capital gains distribution of $0.038 per share, and long-term capital gains distribution of $0.305 per share. (Subject to change. Please note these are unaudited estimates. Cash flows into the funds could change the distribution amounts.)

Past Dividend Payment History:
Date Payable Date
Class Ticker Income Capital Gains
Short-Term Long-Term
12/15/16 12/16/16 I OFVIX 0.12485516


Characteristics as of 9/30/17

Market Leaders Value Fund
Russell 1000®
Value Index

Holdings Based

Price/Earnings Ratio

Price/Sales Ratio

1-Year Historical Earnings Growth Rate*

Weighted Average Market Capitalization
$52,751 mil
$118,529 mil

Median Market Capitalization
$28,596 mil
$8,692 mil

Foreign Exposure

Approximate Number of Holdings

* The Earnings Growth Rate is not a measure of the fund's future performance.

Current Sector Weightings

Sector Distribution* as of 9/30/17 (%)

* Sector allocations are subject to change at any time and should not be considered recommendations to buy or sell any security.

Mutual fund investing involves risk. Principal loss is possible.

Principal Risks of Investing in the Fund:
Foreign investments involve additional risks, including greater volatility and political, economic, and currency risks and differences in accounting methods. Emerging markets countries involve greater risks, such as immature economic structures, national policies restricting investments by foreigners, and different legal systems. Such risks may be magnified with respect to securities of issuers in frontier emerging markets. Medium capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. The Fund may experience higher fees and is subject to additional risks due to investments in other investment companies (including ETFs).

The O'Shaughnessy Funds are distributed by Quasar Distributors, LLC.