Small-Mid Cap Growth Fund

Investment Strategy

The strategy seeks to select reasonably-priced companies that have demonstrated a combination of strong earnings quality, earnings growth, and are appreciating faster than peers. The strategy is based on a separately managed account launched on November 1996. Please see the prospectus for the performance of that product.

Fund Facts

O’Shaughnessy Small-Mid Cap Growth Fund


Inception Date: 8/16/2010
Shares Ticker Symbol Cusip Net Expenses* Gross Expenses Minimums
Class I OFMIX 00768D749 1.19% 1.84% $10,000

* The Adviser is sensitive to expenses and has contractually agreed to waive fees through November 27, 2018.

OFMIX distributions and/or dividend payments are scheduled for December each year.

Please call (877) 291-7827 to obtain estimated payment information.

Past Dividend Payment History:
Reinvestment Date
Payable Date
Class Ticker Income Capital Gains
Short-Term Long-Term
12/11/17 12/12/17 I OFMIX 0.04324599 1.41361000
12/15/16 12/16/16 I OFMIX 0.04443839
12/7/15 12/8/15 I OFMIX 0.05121527 0.88085
12/1/14 12/2/14 I OFMIX 1.94860
12/2/13 12/3/13 I OFMIX 2.39520
12/28/12 12/31/12 I OFMIX 0.00681562
12/3/12 12/4/12 I OFMIX 0.04815331
12/5/11 12/6/11 I OFMIX
12/6/10 12/7/10 I OFMIX 0.00000000 0.12807 0.00000


Performance as of 6/30/2018*

to Date
Most Recent Quarter 1-Year 3-Years 5-Years Since

Small-Mid Cap Growth Fund (I)
1.53% 8.96% 20.74% 11.32% 11.89% 13.46%  
Russell 2500® Growth Index 0.84% 5.53% 21.53% 10.86% 13.87% 16.21%  
Expenses: Net** (I) 1.19%; Gross (I) 1.84%

* All returns greater than one-year are annualized.

** The Adviser is sensitive to expenses and has contractually agreed to waive fees through November 27, 2018.

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. To discourage mutual fund timers the Fund imposes a 2.00% redemption fee on shares held for less than 90 days. Performance data does not reflect the redemption fee. If it had, returns would be reduced. Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced.


Characteristics as of 6/30/2018

Small-Mid Cap Growth Fund
Russell 2500®
Growth Index

Holdings Based

Price/Earnings Ratio

Price/Sales Ratio

1-Year Historical Earnings Growth Rate*

Weighted Average Market Capitalization
$6,389 mil
$4,980 mil

Median Market Capitalization
$3,925 mil
$1,323 mil

Foreign Exposure

Approximate Number of Holdings

Returns Based (Fund statistics based on Class I NAV)

Standard Deviation

Downside Standard Deviation

Sharpe Ratio

Beta 0.90 1.00  
Information Ratio -0.48  
Tracking Error

Downside Capture
Upside Capture

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

Current Sector Weightings

Sector Distribution* as of 6/30/2018 (%)

* 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:
The Fund invests in foreign securities which involve political, economic and currency risks, greater volatility and differences in accounting methods. These risks are greater in emerging markets. Small- and medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. REITs and foreign real estate companies may be less diversified than other pools of securities, may have lower trading volumes and may be subject to more abrupt or erratic price movements than the overall securities markets. Risks of derivatives include the possible imperfect correlation between the value of the instruments and the underlying assets; risks of default by the other party to the transaction; risks that the transactions may result in losses that partially or completely offset gains in portfolio positions; and risks that the instruments may not be liquid.

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