Fund Performance

Cumulative Total Return As of 09/30/2017
1 Month 3 Months YTD SI Cum1
1.52% 4.33% 10.33% 194.68%
Average Annual Total Return As of 09/30/2017
1 Year 3 Year 5 Year 10 Year SI Ann1
15.14% 6.83% 9.21% 8.15% 9.00%

1Fund inception date is 03/16/2005

The performance information quoted above represents past performance, which is not a guarantee of future results. 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 may be lower or higher than the performance data quoted.

Shareholder Transaction Expenses
Maximum Sales Load Imposed On Purchases (as a percentage of offering price) None
Redemption Fee (as a % of amount redeemed) None
Annual Fund Operating Expenses
Management Fee 1.50%
Distribution and/or Service (12b-1) Fees None
Other Expenses 1.31%
Acquired Fund Fees and Expenses 0.11%
Total Annual Fund Operating Expenses 2.92%
Fee Waivers and/or Expense Reimbursements3 (0.86%)
Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements3 2.06%
State Registrations
The fund is available for sale in the following states: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, OU, PA, PR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
Principal Risks Of Investing In The Fund
Investments in the Funds are subject to investment risks, including the possible loss of some or all of the principal amount invested. There can be no assurance that either of the Funds will be successful in meeting its investment objective. Generally, the Funds will be subject to the following additional risks: market risk, management style risk, sector focus risk, foreign securities risk, non-diversified fund risk, portfolio turnover risk, credit risk, interest rate risk, maturity risk, investment grade securities risk, junk bonds or lower-rated securities risk, derivative instruments risk, valuation risks for non-exchange traded options, and real estate securities risk. More information about these risks and other risks can be found in the Fund’s prospectus.
An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available at the link below or by calling Shareholder Services at 1-888-484-5766. The prospectus should be read carefully before investing.
2 The redemption fee is charged upon any redemption of Fund shares occurring within one year after purchase.
3 The Advisor has entered into an Expense Limitation Agreement with the Centaur Total Return Fund under which it has agreed to reduce the amount of the investment advisory fees to be paid to the Advisor by the Fund for certain months and to assume other expenses of the Fund, if necessary, in an amount that limits the Fund's annual operating expenses (exclusive of interest, taxes, brokerage fees and commissions, investment advisory fees paid to the Advisor, extraordinary expenses and payments, if any, under a Rule 12b-1 Plan) to not more than 0.45% of the average daily net assets of the Fund for the period ending February 28, 2018. The Expense Limitation Agreement may not be terminated prior to that date without the approval of the Trust's Board of Trustees.
4 Under an automatic investment plan.

Investments in the Funds are subject to investment risks, including the possible loss of some or all of the principal amount invested. There can be no assurance that either of the Funds will be successful in meeting its investment objective. Generally, the Funds will be subject to the following additional risks: market risk, management style risk, sector focus risk, foreign securities risk, non-diversified fund risk, portfolio turnover risk, credit risk, interest rate risk, maturity risk, investment grade securities risk, junk bonds or lower-rated securities risk, derivative instruments risk, valuation risks for non-exchange traded options, and real estate securities risk. More information about these risks and other risks can be found in the Fund’s prospectus.

An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available at the link below or by calling Shareholder Services at 1-888-484-5766. The prospectus should be read carefully before investing.

The Fund may not be available for sale in all states. The information presented on this page is not an offer to sell or a solicitation of an offer to purchase the Fund.

Distributor: Ultimus Fund Distributors, LLC.

There is no affiliation between Centaur Capital Partners, LP, including its principals, and Ultimus Fund Distributors, LLC.