Investment Strategy

Seeks to provide long-term growth by investing in mostly large capitalization domestic equities. The strategy seeks market-leading companies that meet our quality criteria with attractive valuations and high “shareholder yield” — which combines a company's annual dividend and its annual rate of stock buybacks. Stocks are selected and weighted based on conviction and are broadly constrained by sector and industry. The strategy is based on a separately managed account launched in December 2001. Please see the prospectus for the performance of that product.

PERFORMANCE

Performance as of 9/30/2022*

O'Shaughnessy Market Leaders Value Fund (I)
Russell 1000® Value Index
-9.9%
-8.8%
MTD
-6.1%
-5.6%
QTD
-12.3%
-11.4%
1-Year

3-Year
5.5%
4.4%

5-Year
5.4%
5.3%
Since
Inception
2/26/2016
9.2%
8.5%

* Expenses:
* All returns greater than one-year are annualized.
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment 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 shown without sales charge does not include the load or CDSC. If reflected, the load or fee would reduce the performance quoted. Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced.

FUND FACTS

O'Shaughnessy Market Leaders Value Fund
Inception Date: 2/26/2016
Shares Ticker Symbol Cusip Net Expenses Gross Expenses Minimums
Class I OFVIX 00770X444 0.52% 0.52% $10,000

Fund distributions and/or dividend payments are scheduled for December each year.
Please call (877) 291-7827 to obtain estimated payment information.


Next scheduled fund distribution or dividend payment: 12/12/22
Estimated net income distribution of $0.256 per share; short-term capital gains distribution of $0.0233; long-term capital gains distribution of $1.0540 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:
Declared Date Ex-Date
Reinvestment Date
Payable Date
Class Ticker Income Short-Term Long-Term
12/9/2021 12/10/2021 I OFVIX 0.33078620
12/7/2020 12/8/2020 I OFVIX 0.30566936
12/10/2019 12/11/2019 I OFVIX 0.22400000
12/10/2018 12/11/2018 I OFVIX 0.12129832 0.07495 0.69667
12/11/2017 12/12/2017 I OFVIX 0.17810756 0.03790 0.30276
12/15/2016 12/16/2016 I OFVIX 0.12485516
 
CHARACTERISTICS

Characteristics as of 9/30/2022
For definitions of our characteristics, please visit our glossary page.
Holdings Based * O'Shaughnessy
Market Leaders Value Fund
Russell 1000® Value Index
Price/Earnings Ratio 7.2x 13.6x
Price/Sales Ratio 1.0x 1.5x
1-Year Historical Earnings Growth Rate* 104.9% 60.2%
Weighted Average Market Capitalization $40,174 Mil $134,968 Mil
Median Market Capitalization $21,175 Mil $10,530 Mil
Approximate Number of Holdings 69 855
 
Returns Based
(Fund statistics based on Class I NAV)
Standard Deviation 18.5% 16.2%
Downside Standard Deviation 12.9% 11.2%
Sharpe Ratio 0.45 0.47
Beta 1.11 1.00
Information Ratio 0.12
Tracking Error 4.8%
Downside Capture 104.5% 100.0%
Upside Capture 107.4% 100.0%

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

SECTORS

Sector Distribution* as of 9/30/2022 (%)

O'Shaughnessy Market Leaders Value Fund
Russell 1000® Value Index
Difference
Communication
Services
5.4%
8.0%
-2.6%
Consumer
Discretionary
10.3%
6.0%
4.3%
Consumer
Staples
4.7%
7.2%
-2.5%

Energy
11.2%
7.8%
3.4%

Financials
25.9%
20.0%
5.9%
Health
Care
10.7%
17.3%
-6.6%

Industrials
7.5%
10.0%
-2.5%
Information
Technology
9.3%
8.8%
0.5%

Materials
6.5%
4.1%
2.4%
Real
Estate
8.5%
4.8%
3.7%

Utilities
0.0%
6.0%
-6.0%

* 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.

OTHER STRATEGIES

The statements on this page are qualified in their entirety by the disclaimers and limitations contained here.