Fund Ticker: GFMGX
Inception Date: January 15, 2010*
Peer Group: Morningstar Category—US Large Growth
*While the Growth Equity Fund commenced operations on December 31, 2009, the Fund began investing consistent with its investment objective on January 15, 2010.
Long-term capital appreciation
We take a process-driven, rules-based approach to investing. While we believe prices reflect the market’s expectations of risk, we think information in prices and fundamentals can help identify securities with higher expected returns. The Gerstein Fisher Multi-Factor® Domestic Growth Equity strategy leverages a quantitative investment model that provides diversified exposure to domestic growth-oriented companies. This strategy is designed to add value over benchmarks by taking greater-than-market index weight in those securities that have smaller market capitalizations, are value oriented, and have positive price momentum.
Increased exposure to stocks with the following characteristics:
*While the Growth Equity Fund commenced operations on December 31, 2009, the Fund began investing consistent with its investment objective on January 15, 2010. Performance data quoted represent 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 current to the most recent month end may be obtained by calling 800-473-1155. Total Annual Fund Operating Expense Ratio 1.02% The Fund imposes a 1.00% redemption fee on shares redeemed within 60 days of purchase. Performance data do not reflect the redemption fee. If they had, returns would be reduced.
The Growth of $10,000 chart illustrates the performance of a hypothetical $10,000 investment made in the Fund on commencement of operations (December 31, 2009). It assumes reinvestment of capital gains and dividends. This chart is not intended to imply any future performance.
We balance the trade-offs between concentration and diversification to create investment solutions that target high expected return securities while minimizing trading costs. Our portfolio construction process minimizes unintended exposures and monitors contributions of stock-specific volatility. We believe our objective, research-based approach produces superior, repeatable, and consistent results for clients and offers a compelling alternative to pure indexing and traditional qualitative investment approaches.
Fund holdings are subject to change and are not recommendations to buy or sell any security. Current and future holdings are subject to risk.
IMPORTANT DISCLOSURES Weighted Avg. Market Cap ($MM): Average firm market capitalization weighted by security weight. Russell 1000 Growth Index: Measures the performance of the growth segment for the U.S. equity universe. This index includes those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values. S&P 500 Index: A capitalization weighted index of 500 widely traded stocks. You cannot invest directly in an index. Price/Book: A valuation ratio of a company’s current share price compared to its book value. Price/Earnings (trailing 12 months): A valuation ratio of a company’s current share price compared to its past 12-month earnings. Return on Equity: Net income divided by book equity. Price Momentum: Total return over the prior 12 months.
*The Advisor has contractually agreed to waive a portion of its management fees and/or reimburse expenses through March 30, 2020. ©2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating (based on a Morningstar risk-adjusted return measure that accounts for variation in a fund’s monthly performance, including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Gerstein Fisher Multi-Factor® Growth Equity Fund (GFMGX) received 3 stars overall, and received 2 stars among US Large Growth Funds for the three-year (approximately 1,256 funds in category,) and 3 stars among US Large Growth Funds for the the five-year (approximately 1,114 funds in category,) periods based on risk-adjusted performance ending March 31, 2019. This strategy and mutual fund investing involve risk. Principal loss is possible. Investments in foreign securities involve greater volatility and political, economic, and currency risks, as well as differences in accounting methods. Small- and medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Growth stocks typically are relatively more expensive than value stocks; however, value stocks have a lower expected growth rate in earnings and sales. Options on securities may be subject to greater fluctuation in value than an investment in the underlying securities. The investment in options is not suitable for all investors. The risks of investments in derivatives include imperfect correlation between the value of these instruments and the underlying assets; risks of default by the other party to the derivative transactions; risks that the transactions may result in losses that partially or completely offset gains in portfolio positions; and risks that the derivative transactions may not be liquid. The Fund may engage in short sales of securities, which involve the risk that losses may exceed the original amount invested. Unlike mutual funds, ETFs do not necessarily trade at the net asset values of their underlying securities, which means an ETF could potentially trade above or below the value of the underlying portfolios. Additionally, because ETFs trade like stocks on exchanges, they are subject to trading and commission costs, unlike open-end investment companies. Diversification does not assure a profit or protect against loss in a declining market. The Gerstein Fisher Multi-Factor® Growth Equity Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and other important information about the investment company and may be obtained by calling 800-473-1155. Read the prospectus carefully before investing. The Gerstein Fisher Multi-Factor® Growth Equity Fund is distributed by Quasar Distributors, LLC.
Learn how we can help you invest with reason and stay current with our latest thinking on key issues and markets.