REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
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[X]
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Pre-Effective Amendment No.
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[ ]
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Post-Effective Amendment No. 45
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[X]
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and/or
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REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
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[X]
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Amendment No. 48
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[X]
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Paul B. Ordonio, President
Monteagle Funds
2506 Winford Avenue
Nashville, TN 37211
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Matthew A. Swendiman
Graydon Head & Ritchey LLP
1900 Fifth Third Center
511 Walnut Street
Cincinnati, OH 45202
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|X|
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immediately upon filing pursuant to paragraph (b)
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on (date) pursuant to paragraph (b)
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60 days after filing pursuant to paragraph (a)(1)
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on (date) pursuant to paragraph (a)(1)
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75 days after filing pursuant to paragraph (a)(2)
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on (date) pursuant to paragraph (a)(2) of rule 485.
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This post-effective amendment designates a new effective date for a previously filed post-effective amendment.
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MONTEAGLE FUNDS
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By:
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/s/ Paul B. Ordonio
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Paul B. Ordonio, President
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/s/ Paul B. Ordonio
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President
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10/09/2013
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Paul B. Ordonio
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Date
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/s/ Larry Beaver
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Treasurer
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10/09/2013
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Larry Beaver
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Date
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/s/ Larry J. Anderson
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Trustee
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10/09/2013
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Larry Joe Anderson*
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Date
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/s/ Brian J. Green
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Trustee
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10/09/2013
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Brian Joseph Green*
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Date
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/s/ Charles M. Kinard
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Trustee
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10/09/2013
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Charles Michael Kinard*
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Date
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*By: /s/ Paul B. Ordonio
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10/09/2013
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Paul B. Ordonio, Attorney-in-Fact
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Date
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Exhibit No.
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Exhibit
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EX-101.INS
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XBRL Instance Document
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EX-101.SCH
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XBRL Taxonomy Extension Schema Document
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EX-101.CALC
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XBRL Taxonomy Extension Calculation Linkbase
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EX-101.DEF
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XBRL Taxonomy Extension Definition Linkbase
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EX-101.LAB
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XBRL Taxonomy Extension Labels Linkbase
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EX-101.PRE
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XBRL Taxonomy Extension Presentation Linkbase
|
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Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||||
Document Type | dei_DocumentType | 485BPOS | ||||
Period End Date | dei_DocumentPeriodEndDate | Sep. 17, 2013 | ||||
Registrant Name | dei_EntityRegistrantName | Monteagle Funds | ||||
CIK | dei_EntityCentralIndexKey | 0001045701 | ||||
Amendment | dei_AmendmentFlag | false | ||||
Creation Date | dei_DocumentCreationDate | Sep. 17, 2013 | ||||
Effective Date | dei_DocumentEffectiveDate | Sep. 17, 2013 | ||||
Prospectus Date | rr_ProspectusDate | Sep. 17, 2013 | ||||
The Texas Fund
|
||||||
Risk/Return: | rr_RiskReturnAbstract | |||||
Risk/Return | rr_RiskReturnHeading | FUND SUMMARY |
||||
Investment objective: | rr_ObjectiveHeading | Investment Objective |
||||
Investment objective | rr_ObjectivePrimaryTextBlock | The investment objective of The Texas Fund (the “Fund”) is long-term capital appreciation. The Fund is an equity fund. |
||||
Fees and expenses of the fund: | rr_ExpenseHeading | Fees and Expenses of the Fund |
||||
Fees and expenses of the fund, narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in the section captioned “General Information” on page 9 of the Fund’s prospectus and the section captioned “Additional Purchase Information” beginning on page 25 of the Fund’s statement of additional information. |
||||
Shareholder fees, caption | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) |
||||
Annual fund operating expenses, heading | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
||||
Portfolio turnover, heading | rr_PortfolioTurnoverHeading | Portfolio Turnover |
||||
Portfolio turnover, narrative | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. |
||||
Expense Breakpoint Discounts | rr_ExpenseBreakpointDiscounts | You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. | ||||
Expense Breakpoint, Minimum Investment Required | rr_ExpenseBreakpointMinimumInvestmentRequiredAmount | $ 50,000 | ||||
Other Expenses, New Fund, Based on Estimates | rr_OtherExpensesNewFundBasedOnEstimates | Because the Fund is new, these expenses are based on estimated amount for the Fund’s current fiscal year. | ||||
Example, heading | rr_ExpenseExampleHeading | Example |
||||
Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, and that the Fund’s operating expenses remain the same. The Contingent Deferred Sales Charge (the “CDSC”) is not included in these calculations for Class C Shares. If the CDSC were included, your costs would be higher. See “CDSC for Certain Purchases of Shares” on page 7 below. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
||||
Expense Example, No Redemption, Narrative | rr_ExpenseExampleNoRedemptionNarrativeTextBlock | You would pay the same expenses listed in the above table if you did not redeem your shares. |
||||
Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies |
||||
Strategy, Narrative | rr_StrategyNarrativeTextBlock | The Fund’s principal investment strategy is to invest at least 80% of its assets, less any borrowing for investment purposes, in the common stock of companies either (i) headquartered in Texas based on information provided by Morningstar, Inc., (ii) organized under the laws of Texas, or (iii) that, during the most recent fiscal year, derived at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in Texas or that have at least 50% of its assets in Texas. In determining whether a company meets this condition, the Sub-Adviser may rely on such information and sources as the Sub-Adviser deems reasonable and appropriate.
The Fund will be invested across a broad market capitalization spectrum, including small, mid and large capitalization companies. The Sub-Adviser typically selects companies in which to invest by performing an initial market capitalization screening of $1,000,000,000 or more. The Sub-Adviser controls for Fund risks by performing fundamental analyses of the initially screened companies. The Sub-Adviser analyzes factors such as financial conditions, industry position, and market and economic conditions and trends to select investments and make buy and sell decisions. Once the Sub-Adviser selects companies in which to invest, the Sub-Adviser initially equally weights the companies within each sector. The Sub-Adviser does not equally weight each sector within the Fund.
The Fund will not invest 25% or more of its assets in any industry or group of related industries. However, the Fund does intend to have a high level of investments in the oil and gas industry due to the Fund’s management team’s belief that such industry has superior growth opportunities. Except as otherwise permitted by the Fund’s non-fundamental policies, any concentration in a specific sector or industry will be under this 25% concentration threshold. |
||||
Risk, Heading | rr_RiskHeading | Principal Investment Risks |
||||
Risk, Narrative | rr_RiskNarrativeTextBlock | An investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested. There can be no assurance that the Fund will be successful in meeting its investment objective. Generally, the Fund will be subject to the following additional risks:
Investment Selection Risk. The Fund’s ability to achieve its investment objective is dependent on the Sub-Adviser’s ability to identify profitable investment opportunities for the Fund.
Market Risk. The value of securities in the Fund’s portfolio may decline due to daily fluctuations in the securities markets, including fluctuation in interest rates, national and international economic conditions and general equity market conditions.
Business and Sector Risk. From time to time, a particular set of circumstances may affect a particular industry or certain companies within an industry, while having little or no impact on other industries or other companies within the industry.
Geographic Concentration Risk. The Fund’s investments are concentrated in Texas, and therefore the Fund will be susceptible to adverse market, political, regulatory, social, economic and geographic events affecting Texas. The Fund’s performance may be more volatile than the performance of more geographically diverse funds. Since one of the main industries in Texas is mining and logging, including the oil and gas sectors, Texas is particularly susceptible to economic, environmental and political activities affecting this industry.
Oil and Gas Sector Risk. Companies in the oil and gas sector may have significant operations in areas at risk for natural disasters, social unrest and environmental damage. These companies may also be at risk for increased government regulations and intervention, litigation, and negative publicity and perception.
Large Company Risk. The Fund may invest in larger, more established companies, which may be unable to respond to new competitive challenges. Additionally, large companies may be unable to attain the high growth rates of successful, small companies, especially during extended periods of economic expansion.
Small and Mid-Capitalization Company Risk. The Fund may invest in small and medium capitalization companies which involve greater risks than those associated with larger, more established companies. Smaller companies may be subject to more abrupt or erratic price movements.
New Portfolio Managers Risk. Although the Fund’s Portfolio Managers have managed individual separate accounts in the past, they have not had previous experience managing a mutual fund prior to serving as the Portfolio Managers for the Fund, which may limit the Portfolio Managers’ effectiveness.
New Fund Risk. The Fund was formed in September, 2013, and the Sub-Adviser has not previously managed an investment company registered under the Investment Company Act of 1940. Accordingly, investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategy.
An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund is not a complete investment program. |
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May Lose Money | rr_RiskLoseMoney | An investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested. | ||||
Not Insured Depository Institution | rr_RiskNotInsuredDepositoryInstitution | An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. | ||||
Bar Chart and Performance Table, Heading | rr_BarChartAndPerformanceTableHeading | Performance |
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Performance, Narrative | rr_PerformanceNarrativeTextBlock | The Fund is new as of the date of this prospectus and therefore performance information is not available. |
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Performance, One Year or Less | rr_PerformanceOneYearOrLess | The Fund is new as of the date of this prospectus and therefore performance information is not available. | ||||
The Texas Fund | Class I
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Risk/Return: | rr_RiskReturnAbstract | |||||
Trading Symbol | dei_TradingSymbol | BIGTX | ||||
Maximum Sales Charge (Load) Imposed on Purchases | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||
Maximum Deferred Sales Charge (Load) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | ||||
Sales Charge (Load) Imposed on Reinvested Distributions | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||
Redemption Fee | rr_RedemptionFeeOverRedemption | none | [1] | |||
Exchange Fee | rr_ExchangeFee | none | ||||
Management Fees | rr_ManagementFeesOverAssets | 1.45% | ||||
Distribution [and/or Service] (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.17% | [2] | |||
Acquired (Underlying) Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | none | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.62% | ||||
Expense Example, 1 YEAR | rr_ExpenseExampleYear01 | 165 | ||||
Expense Example, 3 YEARS | rr_ExpenseExampleYear03 | 511 | ||||
The Texas Fund | Class C
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Risk/Return: | rr_RiskReturnAbstract | |||||
Trading Symbol | dei_TradingSymbol | TEXCX | ||||
Maximum Sales Charge (Load) Imposed on Purchases | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||
Maximum Deferred Sales Charge (Load) | rr_MaximumDeferredSalesChargeOverOfferingPrice | none | ||||
Sales Charge (Load) Imposed on Reinvested Distributions | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||
Redemption Fee | rr_RedemptionFeeOverRedemption | (1.00%) | [1] | |||
Exchange Fee | rr_ExchangeFee | none | ||||
Management Fees | rr_ManagementFeesOverAssets | 1.45% | ||||
Distribution [and/or Service] (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 1.00% | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.17% | [2] | |||
Acquired (Underlying) Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | none | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.62% | ||||
Expense Example, 1 YEAR | rr_ExpenseExampleYear01 | 265 | ||||
Expense Example, 3 YEARS | rr_ExpenseExampleYear03 | $ 814 | ||||
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The Texas Fund | ||||||||||||||||||||||||||
FUND SUMMARY |
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Investment Objective |
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The investment objective of The Texas Fund (the “Fund”) is long-term capital appreciation. The Fund is an equity fund. |
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Fees and Expenses of the Fund |
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This table describes the fees and expenses you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in the section captioned “General Information” on page 9 of the Fund’s prospectus and the section captioned “Additional Purchase Information” beginning on page 25 of the Fund’s statement of additional information. |
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Shareholder Fees (fees paid directly from your investment) |
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Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
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Example |
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This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year, and that the Fund’s operating expenses remain the same. The Contingent Deferred Sales Charge (the “CDSC”) is not included in these calculations for Class C Shares. If the CDSC were included, your costs would be higher. See “CDSC for Certain Purchases of Shares” on page 7 below. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
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You would pay the same expenses listed in the above table if you did not redeem your shares. |
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Portfolio Turnover |
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The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. |
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Principal Investment Strategies |
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The Fund’s principal investment strategy is to invest at least 80% of its assets, less any borrowing for investment purposes, in the common stock of companies either (i) headquartered in Texas based on information provided by Morningstar, Inc., (ii) organized under the laws of Texas, or (iii) that, during the most recent fiscal year, derived at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in Texas or that have at least 50% of its assets in Texas. In determining whether a company meets this condition, the Sub-Adviser may rely on such information and sources as the Sub-Adviser deems reasonable and appropriate.
The Fund will be invested across a broad market capitalization spectrum, including small, mid and large capitalization companies. The Sub-Adviser typically selects companies in which to invest by performing an initial market capitalization screening of $1,000,000,000 or more. The Sub-Adviser controls for Fund risks by performing fundamental analyses of the initially screened companies. The Sub-Adviser analyzes factors such as financial conditions, industry position, and market and economic conditions and trends to select investments and make buy and sell decisions. Once the Sub-Adviser selects companies in which to invest, the Sub-Adviser initially equally weights the companies within each sector. The Sub-Adviser does not equally weight each sector within the Fund.
The Fund will not invest 25% or more of its assets in any industry or group of related industries. However, the Fund does intend to have a high level of investments in the oil and gas industry due to the Fund’s management team’s belief that such industry has superior growth opportunities. Except as otherwise permitted by the Fund’s non-fundamental policies, any concentration in a specific sector or industry will be under this 25% concentration threshold. |
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Principal Investment Risks |
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An investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested. There can be no assurance that the Fund will be successful in meeting its investment objective. Generally, the Fund will be subject to the following additional risks:
Investment Selection Risk. The Fund’s ability to achieve its investment objective is dependent on the Sub-Adviser’s ability to identify profitable investment opportunities for the Fund.
Market Risk. The value of securities in the Fund’s portfolio may decline due to daily fluctuations in the securities markets, including fluctuation in interest rates, national and international economic conditions and general equity market conditions.
Business and Sector Risk. From time to time, a particular set of circumstances may affect a particular industry or certain companies within an industry, while having little or no impact on other industries or other companies within the industry.
Geographic Concentration Risk. The Fund’s investments are concentrated in Texas, and therefore the Fund will be susceptible to adverse market, political, regulatory, social, economic and geographic events affecting Texas. The Fund’s performance may be more volatile than the performance of more geographically diverse funds. Since one of the main industries in Texas is mining and logging, including the oil and gas sectors, Texas is particularly susceptible to economic, environmental and political activities affecting this industry.
Oil and Gas Sector Risk. Companies in the oil and gas sector may have significant operations in areas at risk for natural disasters, social unrest and environmental damage. These companies may also be at risk for increased government regulations and intervention, litigation, and negative publicity and perception.
Large Company Risk. The Fund may invest in larger, more established companies, which may be unable to respond to new competitive challenges. Additionally, large companies may be unable to attain the high growth rates of successful, small companies, especially during extended periods of economic expansion.
Small and Mid-Capitalization Company Risk. The Fund may invest in small and medium capitalization companies which involve greater risks than those associated with larger, more established companies. Smaller companies may be subject to more abrupt or erratic price movements.
New Portfolio Managers Risk. Although the Fund’s Portfolio Managers have managed individual separate accounts in the past, they have not had previous experience managing a mutual fund prior to serving as the Portfolio Managers for the Fund, which may limit the Portfolio Managers’ effectiveness.
New Fund Risk. The Fund was formed in September, 2013, and the Sub-Adviser has not previously managed an investment company registered under the Investment Company Act of 1940. Accordingly, investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategy.
An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund is not a complete investment program. |
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Performance |
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The Fund is new as of the date of this prospectus and therefore performance information is not available. |