jacob_485b-xbrl.htm

0000894189-13-000122.txt : 20130111 0000894189-13-000122.hdr.sgml : 20130111 20130111115534 ACCESSION NUMBER: 0000894189-13-000122 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130111 DATE AS OF CHANGE: 20130111 EFFECTIVENESS DATE: 20130111 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Jacob Funds Inc. CENTRAL INDEX KEY: 0001090372 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-82865 FILM NUMBER: 13524722 BUSINESS ADDRESS: STREET 1: 653 MANHATTAN BEACH BLVD. CITY: MANHATTAN BEACH STATE: CA ZIP: 90266 BUSINESS PHONE: 310-421-4942 MAIL ADDRESS: STREET 1: 653 MANHATTAN BEACH BLVD. CITY: MANHATTAN BEACH STATE: CA ZIP: 90266 FORMER COMPANY: FORMER CONFORMED NAME: JACOB INTERNET FUND INC DATE OF NAME CHANGE: 20060106 FORMER COMPANY: FORMER CONFORMED NAME: JACOB INTERNET FUND DATE OF NAME CHANGE: 20060106 FORMER COMPANY: FORMER CONFORMED NAME: JACOB INTERNET FUND INC DATE OF NAME CHANGE: 19990713 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Jacob Funds Inc. CENTRAL INDEX KEY: 0001090372 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-09447 FILM NUMBER: 13524723 BUSINESS ADDRESS: STREET 1: 653 MANHATTAN BEACH BLVD. CITY: MANHATTAN BEACH STATE: CA ZIP: 90266 BUSINESS PHONE: 310-421-4942 MAIL ADDRESS: STREET 1: 653 MANHATTAN BEACH BLVD. CITY: MANHATTAN BEACH STATE: CA ZIP: 90266 FORMER COMPANY: FORMER CONFORMED NAME: JACOB INTERNET FUND INC DATE OF NAME CHANGE: 20060106 FORMER COMPANY: FORMER CONFORMED NAME: JACOB INTERNET FUND DATE OF NAME CHANGE: 20060106 FORMER COMPANY: FORMER CONFORMED NAME: JACOB INTERNET FUND INC DATE OF NAME CHANGE: 19990713

0001090372 S000005257 Jacob Internet Fund

C000014360 Investor Class JAMFX

0001090372 S000027365 Jacob Small Cap Growth Fund

C000082574 Investor Class JSCGX

C000119840 Institutional Class JSIGX

0001090372 S000027366 Jacob Wisdom Fund

C000082575 Investor Class JWSFX

0001090372 S000038991 Jacob Micro Cap Growth Fund

C000119838 Investor Class JMCGX

C000119839 Institutional Class JMIGX

485BPOS 1 jacob_485b-xbrl.htm POST EFFECTIVE AMENDMENT FOR XBRL jacob_485b-xbrl.htm

Filed with the Securities and Exchange Commission on January 11, 2013

1933 Act Registration File No.333-82865

1940 Act File No. 811-09447

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933		[	X	]
Pre-Effective Amendment No.		[		]
Post-Effective Amendment No.	24	[	X	]

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940			[	X	]
Amendment No.	27		[	X	]

(Check appropriate box or boxes)

Jacob Funds Inc.

(Exact Name of Registrant as Specified in Charter)

c/o Jacob Asset Management of New York LLC

653 Manhattan Beach Blvd. #J, Manhattan Beach, CA 90266

(Address of Principal Executive Offices) (Zip Code)

(424) 237-2164

(Registrant’s Telephone Number, including Area Code)

Ryan I. Jacob, c/o Jacob Asset Management of New York LLC

653 Manhattan Beach Blvd. #J, Manhattan Beach, CA 90266

(Name and Address of Agent for Service of Process)

With Copies to:

Michael P. O’Hare, Esq.

Stradley Ronon Stevens & Young, LLP

2005 Market Street, Suite 2600

Philadelphia, PA 19103

It is proposed that this filing will become effective (check appropriate box)

[	X	]	immediately upon filing pursuant to paragraph (b)
[		]	On (date) pursuant to paragraph (b)
[		]	60 days after filing pursuant to paragraph (a)(1)
[		]	on (date) pursuant to paragraph (a)(1)
[		]	75 days after filing pursuant to paragraph (a)(2)
[		]	on (date) pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box:

[

]

This post-effective amendment designates a new effective date for a previously filed post- effective amendment.

Explanatory Note: This Post-Effective Amendment (“PEA”) No. 24 to the Registration Statement of Jacob Funds, Inc. (the “Company”) on Form N-1A hereby incorporates Parts A, B and C from the Company’s PEA No. 23 on Form N-1A filed on December 24, 2012. This PEA No. 24 is filed for the sole purpose of submitting the XBRL exhibit for the risk/return summary first provided in PEA No. 23 to the Company’s Registration Statement.

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended (the “1933 Act”), and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act and has duly caused this Post-Effective Amendment No. 24 to its Registration Statement on Form N-1A to be signed below on its behalf by the undersigned, thereunto duly authorized, in the City of Manhattan Beach, and in the State of California, on the 11th day of January, 2013.

	Jacob Funds Inc.

	By: /s/Ryan I. Jacob
		Ryan I. Jacob
		President, Chief Executive Officer, Director
		and Chairman of the Board

Pursuant to the requirements of the 1933 Act, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

Signature	Title	Date

/s/Ryan I. Jacob	President, Chief Executive	January 11, 2013
Ryan I. Jacob	Officer, Director and Chairman of the Board

/s/Francis J. Alexander	Vice President, Secretary and	January 11, 2013
Francis J. Alexander	Treasurer

/s/William B. Fell	Director	January 11, 2013
William B. Fell

/s/Christopher V. Hajinian	Director	January 11, 2013
Christopher V. Hajinian

/s/Jeffrey I. Schwarzschild	Director	January 11, 2013
Jeffrey I. Schwarzschild

INDEX TO EXHIBITS

Exhibit	Exhibit No.
Instance Document	EX-101.INS
Schema Document	EX-101.SCH
Calculation Linkbase Document	EX-101.CAL
Definition Linkbase Document	EX-101.DEF
Label Linkbase Document	EX-101.LAB
Presentation Linkbase Document	EX-101.PRE

EX-101.INS 2 ck0001090372-20120831.xml INSTANCE DOCUMENT 485BPOS 2012-08-31 0001090372 2012-12-29 Jacob Funds Inc. false 2012-12-24 2012-12-29 <tt>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.</tt> <div style="display:none">~ http://www.jacobmutualfunds.com/role/ExpenseExample_S000038991Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Fund's investment objective is long-term growth of capital.</tt> <tt>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 over 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.</tt> <tt>The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its assets in micro capitalization companies. Micro capitalization companies are defined as those companies with market capitalizations (share price multiplied by number of shares outstanding) of (1) less than or equal to $600 million; or (2) within the capitalization range of the Russell Micro Cap® Growth Index at the time of purchase. As of November 30, 2012, the market capitalization of the largest company in the Russell Micro Cap® Growth Index was approximately $1.228 billion, and the weighted average and median market capitalizations of the Russell Micro Cap® Growth Index were approximately $331 million and $164 million, respectively. The Fund maintains a diversified portfolio of investments consisting primarily of common stocks. The Fund may also invest in other equity securities, such as preferred stocks, rights, or warrants. The Adviser expects to select investments for the Fund in companies that are broadly diversified over various industry groups. The Adviser manages the Fund's portfolio in an aggressive growth style. The Adviser believes that investments in micro capitalization companies can have greater earnings and sales growth potential than larger capitalized companies and can offer substantial opportunities for long-term growth of capital. The Adviser's overall stock selections are based on its qualitative and quantitative assessment of a company's fundamental prospects and whether it has an above-average potential for long-term growth of capital. The Adviser expects to invest the Fund's net assets primarily in U.S. companies, but may gain exposure to foreign markets, including emerging markets, through the global operations of U.S. companies, by purchasing depositary receipts or securities of foreign companies traded on U.S. exchanges, or through direct investment in foreign companies. The Adviser will not invest more than 25% of the Fund's net assets directly in foreign companies. The Fund intends to hold some cash, short-term debt obligations, government securities or other high-quality investments for reserves to cover redemptions and unanticipated expenses, or to maintain liquidity while seeking appropriate investments.</tt> JACOB MICRO CAP GROWTH FUND Example: Performance information is not available because the Adviser has managed the Fund for less than one calendar year as of the date of this prospectus. Investment Objective Investing in a mutual fund has inherent risks, which could cause you to lose money. Principal Risks Shareholder Fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: Performance Information Annual Fund Operating Expenses (expenses paid each year as a percentage of the value of your investment) Portfolio Turnover <tt>Investing in a mutual fund has inherent risks, which could cause you to lose money. The principal risks of investing in the Fund, and the circumstances that could adversely affect the Fund's net asset value and total return, are listed below. ·  Market Risk: The value of the Fund's shares and the securities held by the        Fund can each decline in value. Even when the stock market in general is          rising, the stocks selected by the Adviser may decline. Prices of common          stocks of even the best managed, most profitable corporations are subject to      market risk, which means their stock prices can decline. In addition, swings      in investor psychology or significant trading by large institutional investors    can result in price fluctuations.                                                 ·  Micro Capitalized Company Risk: Investments in micro capitalization companies    may involve greater risks, as these companies tend to have limited product        lines, markets and financial or managerial resources. Micro cap stocks often      also have a more limited trading market, such that the Adviser may not be able    to sell stocks at an optimal time or price. In addition, less frequently-traded    securities may be subject to more abrupt price movements than securities of    larger capitalized companies.                               ·  Growth Companies Risk. Growth companies are expected to increase their            earnings at a certain rate. When these expectations are not met, the prices of    these stocks may go down, even if earnings showed an absolute increase. Growth    company stocks also typically lack the dividend yield that can cushion stock      prices in market downturns. Different investment styles tend to shift in and      out of favor, depending on market conditions and investor sentiment. The          Fund's growth style may cause the Fund to underperform funds that have a          broader investment style.                                                         ·  Foreign and Emerging Market Risk: The risks of investing in foreign companies,    including those located in emerging market countries, can increase the potential    for losses in the Fund and may include currency fluctuations, political and    economic instability, less government regulation, less publicly available    information, limited trading markets, differences in financial reporting    standards and less stringent regulation of securities markets. Foreign    securities markets generally have less volume than U.S. securities exchanges    and securities of some foreign companies are less liquid and more volatile    than securities of comparable U.S. companies. Additional risks include future    political and economic developments, the possibility that a foreign jurisdiction    might impose or increase withholding taxes on income payable with respect to    foreign securities, the possible seizure, nationalization or expropriation of    the foreign issuer or foreign deposits (in which the Fund could lose its entire    investment in a certain market) and the possible adoption of foreign governmental    restrictions such as exchange controls.</tt> Fees and Expenses Principal Investment Strategies <tt>Performance information gives some indication of the risks of investing in the Fund by comparing the Fund's performance with a broad measure of market performance. Performance information is not available because the Adviser has managed the Fund for less than one calendar year as of the date of this prospectus. In the future, the Fund will disclose performance information in a bar chart and performance table.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</tt> <div style="display:none">~ http://www.jacobmutualfunds.com/role/OperatingExpensesData_S000038991Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jacobmutualfunds.com/role/ShareholderFeesData_S000038991Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> JMIGX 0.00 218 667 0.0000 2454 0.0000 1142 0.0092 0.0120 2014-01-02 0.00 0.0000 0.0212 0.0212 0.00 JMCGX 0.00 248 768 -0.0002 2805 -0.0200 1314 0.0092 0.0120 2014-01-02 0.00 0.0035 0.0245 0.0247 0.00 <tt>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. During the most recent fiscal year, the Fund's portfolio turnover rate was 19.62% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.jacobmutualfunds.com/role/ExpenseExample_S000027366Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jacobmutualfunds.com/role/BarChartData_S000027366Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Fund's investment objective is to maximize total investment return consisting of a combination of income and capital appreciation.</tt> <tt>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 over 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.</tt> reflects no deduction for fees, expenses or taxes <tt>The Fund seeks to achieve its investment objective by investing primarily in equity securities of U. S. companies of any size. The Fund may gain exposure to foreign markets through the global operations of U.S. companies, or through direct investment in foreign companies. The Adviser will not invest more than 25% of the Fund's net assets directly in foreign companies. The Fund may, to a lesser extent, invest in investment grade fixed income or debt securities to seek income. The Fund invests in securities of companies that the Adviser believes have the greatest potential for capital appreciation and income. The Adviser's overall stock selections are based on an assessment of a company's fundamental prospects. Specifically, the Adviser uses fundamental analysis to assess the quality, growth potential, financial strength and overall value of a company. While trying to maximize the capital appreciation potential of the Fund's portfolio of investments, the Adviser also seeks to obtain securities for the Fund that are selling at reasonable prices. The Fund maintains a diversified portfolio of investments consisting primarily of common stocks, and may also invest in other equity securities such as preferred stocks, securities convertible or exchangeable into common stock, rights, warrants or real estate investment trusts (REITs). Equity securities generally represent an ownership interest in a company and their value is based on the success of the company's business, any income paid to shareholders, the value of the company's assets, general market conditions and investor demand. The Fund may also purchase depositary receipts, which are certificates normally issued by U.S. banks that evidence the ownership of shares of a foreign company. The Fund generally seeks to purchase securities as long-term investments, but when circumstances warrant, securities may be sold without regard to the length of time they have been held to reduce risk or volatility or to respond to changing fundamental information. The Fund intends to hold some cash, short-term debt obligations, government securities or other high-quality investments for reserves to cover redemptions and unanticipated expenses, to seek income, or to maintain liquidity while seeking appropriate investments.</tt> JACOB WISDOM FUND Example: After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Objective Please note that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Investing in a mutual fund has inherent risks, which could cause you to lose money. Principal Risks Shareholder Fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: The return after taxes on distribution and sale of fund shares may be higher than the return before taxes because the method of calculation assumes generally that you can use the short-term capital loss realized upon the sale of fund shares to offset income of the same tax character from other sources thereby reducing the amount of tax you otherwise might owe. 0.1962 Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Annual Total Returns as of December 31, 2011 (Investor Class) Performance Information <tt>The performance information shown is for the period from December 1, 2009 to December 31, 2011. The performance information shown for the period from December 1, 2009, to February 17, 2010, is that of the Fund's predecessor, the Wisdom Fund. The Adviser took over management of the Wisdom Fund on December 1, 2009, and the Wisdom Fund was reorganized into the Jacob Wisdom Fund on February 18, 2010. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The return after taxes on distribution and sale of fund shares may be higher than the return before taxes because the method of calculation assumes generally that you can use the short-term capital loss realized upon the sale of fund shares to offset income of the same tax character from other sources thereby reducing the amount of tax you otherwise might owe.</tt> The performance information that follows gives some indication of the risks of investing in the Fund. <tt>As of September 30, 2012, the Fund's year to date return was 14.40%. Best Quarter      Q1   2012    9.56% Worst Quarter     Q3   2011   -9.08%</tt> Annual Fund Operating Expenses (expenses paid each year as a percentage of the value of your investment) Average Annual Total Returns as of December 31, 2011 Portfolio Turnover <tt>Investing in a mutual fund has inherent risks, which could cause you to lose money. The principal risks of investing in the Fund, and the circumstances that could adversely affect the Fund's net asset value and total return, are listed below. ·  Market Risk: Even when the stock market in general is rising, the stocks          selected by the Adviser may decline. Prices of common stocks of even the best    managed, most profitable corporations are subject to market risk, which means    their stock prices can decline. In addition, swings in investor psychology or    significant trading by large institutional investors can result in price          fluctuations. The Adviser may not be able to sell stocks at an optimal time or    price.                                                                         ·  Smaller Capitalized Company Risk: Investments in smaller capitalized companies    may involve greater risks, as these companies may not have the management         experience, financial resources, product diversification and competitive          strengths of larger companies.                                                    ·  Convertible Securities Risk: The market value of convertible securities tends    to decline as interest rates increase and, conversely, to increase as interest    rates decline. In addition, convertible securities generally offer lower          interest or dividend yields than non-convertible securities of similar            quality.                                                                          ·  Fixed Income Risk: Yields and principal values of fixed income securities         (bonds) will fluctuate. Generally, values of fixed income securities change       inversely with interest rates. As interest rates go up, the value of debt         securities tends to go down. As a result, to the extent the Fund holds fixed      income investments, the value of the Fund may go down. The issuers of             instruments in which the Fund invests may be unable to meet interest and/or       principal payments. An issuer's securities may decrease in value if its           financial strength weakens, which may reduce its credit rating and possibly       its ability to meet its contractual obligations.                                  ·  Foreign Risk: The risks of investing in foreign companies can increase the        potential for losses in the Fund and may include currency fluctuations,           political and economic instability, less government regulation, less publicly    available information, limited trading markets, differences in financial          reporting standards and less stringent regulation of securities markets.    Foreign securities markets generally have less volume than U.S. securities    exchanges and securities of some foreign companies are less liquid and more    volatile than securities of comparable U.S. companies. Additional risks    include future political and economic developments, the possibility that    a foreign jurisdiction might impose or increase withholding taxes on income       payable with respect to foreign securities, the possible seizure,    nationalization or expropriation of the foreign issuer or foreign deposits    (in which the Fund could lose its entire investment in a certain market)    and the possible adoption of foreign governmental restrictions such as    exchange controls.                                                                         ·  Real Estate Investment Trust Risk: Investments in real estate related             instruments may be affected by economic, legal, cultural, environmental or        technological factors that affect property values, rents or occupancies of        real estate related to the Fund's holdings. The performance of REITs depends      on how well the REIT manages the properties it owns.</tt> Fees and Expenses Principal Investment Strategies <tt>The performance information that follows gives some indication of the risks of investing in the Fund. The bar chart shows the Fund's performance from year to year, and the table compares the Fund's average annual returns with those of a broad measure of market performance. Please note that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</tt> <div style="display:none">~ http://www.jacobmutualfunds.com/role/OperatingExpensesData_S000027366Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jacobmutualfunds.com/role/PerformanceTableData_S000027366Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jacobmutualfunds.com/role/ShareholderFeesData_S000027366Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> S&P® 500 Index (reflects no deduction for fees, expenses or taxes) 0.0211 0.0842 Return After Taxes on Distributions and Sale of Fund Shares 0.0233 0.0632 Return After Taxes on Distributions 0.0322 0.0731 JWSFX Worst Quarter Best Quarter 0.00 2012-09-30 Return Before Taxes 237 2012-03-31 833 -0.0908 -0.0050 0.1152 3131 -0.0200 1455 0.0956 0.0359 0.0199 0.0050 2014-01-02 2011-09-30 year to date return 0.0359 0.00 0.0035 0.0234 0.0284 0.0752 0.1440 0.00 <tt>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. During the most recent fiscal year, the Fund's portfolio turnover rate was 77.65% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.jacobmutualfunds.com/role/ExpenseExample_S000027365Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jacobmutualfunds.com/role/BarChartData_S000027365Member column primary compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * ~</div> <tt>The Fund's investment objective is long-term growth of capital.</tt> <tt>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 over 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.</tt> reflects no deduction for fees, expenses or taxes <tt>The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its assets in small capitalization companies. Small capitalization companies are defined as those companies with market capitalizations (share price multiplied by number of shares outstanding) within the capitalization range of the Russell 2000® Growth Index at the time of purchase.  As of November 30, 2012, the market capitalization of the largest company in the Russell 2000® Growth Index was approximately $4.836 billion, and the weighted average and median market capitalizations of the Russell 2000® Growth Index were approximately $1.450 billion and $584 million, respectively. The Fund maintains a diversified portfolio of investments consisting primarily of common stocks. The Fund may also invest in other equity securities, such as preferred stocks, rights, or warrants. The Adviser expects to select investments for the Fund in companies that are broadly diversified over various industry groups. The Adviser manages the Fund's portfolio in an aggressive growth style. The Adviser believes that investments in small capitalization companies can have greater earnings and sales growth potential than larger capitalized companies and can offer substantial opportunities for long-term growth of capital. The Adviser's overall stock selections are based on its qualitative and quantitative assessment of a company's fundamental prospects and whether it has an above-average potential for long-term growth of capital. The Adviser expects to invest the Fund's net assets primarily in U.S. companies, but may gain exposure to foreign markets, including emerging markets, through the global operations of U.S. companies, by purchasing depositary receipts or securities of foreign companies traded on U.S. exchanges, or through direct investment in foreign companies. The Adviser will not invest more than 25% of the Fund's net assets directly in foreign companies. The Fund intends to hold some cash, short-term debt obligations, government securities or other high-quality investments for reserves to cover redemptions and unanticipated expenses, or to maintain liquidity while seeking appropriate investments.</tt> JACOB SMALL CAP GROWTH FUND Example: After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Objective Please note that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Investing in a mutual fund has inherent risks, which could cause you to lose money. Principal Risks Shareholder Fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: The return after taxes on distribution and sale of fund shares may be higher than the return before taxes because the method of calculation assumes generally that you can use the short-term capital loss realized upon the sale of fund shares to offset income of the same tax character from other sources thereby reducing the amount of tax you otherwise might owe. 0.7765 Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Annual Total Returns as of December 31, 2011 (Investor Class) Performance Information <tt>After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The return after taxes on distribution and sale of fund shares may be higher than the return before taxes because the method of calculation assumes generally that you can use the short-term capital loss realized upon the sale of fund shares to offset income of the same tax character from other sources thereby reducing the amount of tax you otherwise might owe.</tt> The performance information that follows gives some indication of the risks of investing in the Fund. <tt>As of September 30, 2012, the Fund's year to date return was 14.52%. Best Quarter    Q4   2010    22.86% Worst Quarter   Q3   2011   -27.18%</tt> Please note that the percentage of Annual Fund Operating Expenses shown has been restated to reflect current fees following the reorganization of the Jacob Small Cap Growth Fund II (formerly PineBridge US Small Cap Growth Fund)series of Jacob Funds II (formerly PineBridge Mutual Funds) into the Fund on November 12, 2012. Annual Fund Operating Expenses (expenses paid each year as a percentage of the value of your investment) Average Annual Total Returns as of December 31, 2011 Portfolio Turnover <tt>Investing in a mutual fund has inherent risks, which could cause you to lose money. The principal risks of investing in the Fund, and the circumstances that could adversely affect the Fund's net asset value and total return, are listed below. ·  Market Risk: The value of the Fund's shares and the securities held by the    Fund can each decline in value. Even when the stock market in general is rising,    the stocks selected by the Adviser may decline. Prices of common stocks of even    the best managed, most profitable corporations are subject to market risk, which    means their stock prices can decline. In addition, swings in investor psychology    or significant trading by large institutional investors can result in price    fluctuations. ·  Smaller Capitalized Company Risk: Investments in small capitalization    companies may involve greater risks, as these companies tend to have limited    product lines, markets and financial or managerial resources. Small cap stocks    often also have a more limited trading market, such that the Adviser may not be    able to sell stocks at an optimal time or price. In addition, less    frequently-traded securities may be subject to more abrupt price movements    than securities of larger capitalized companies. ·  Growth Companies Risk. Growth companies are expected to increase their    earnings at a certain rate. When these expectations are not met, the prices of    these stocks may go down, even if earnings showed an absolute increase. Growth    company stocks also typically lack the dividend yield that can cushion stock    prices in market downturns. Different investment styles tend to shift in and    out of favor, depending on market conditions and investor sentiment. The Fund's    growth style may cause the Fund to underperform funds that have a broader    investment style. ·  Foreign and Emerging Market Risk: The risks of investing in foreign companies,    including those located in emerging market countries, can increase the potential    for losses in the Fund and may include currency fluctuations, political and    economic instability, less government regulation, less publicly available    information, limited trading markets, differences in financial reporting    standards and less stringent regulation of securities markets. Foreign    securities markets generally have less volume than U.S. securities exchanges    and securities of some foreign companies are less liquid and more volatile    than securities of comparable U.S. companies. Additional risks include future    political and economic developments, the possibility that a foreign jurisdiction    might impose or increase withholding taxes on income payable with respect to    foreign securities, the possible seizure, nationalization or expropriation of    the foreign issuer or foreign deposits (in which the Fund could lose its entire    investment in a certain market) and the possible adoption of foreign    governmental restrictions such as exchange controls.</tt> Fees and Expenses Principal Investment Strategies <tt>The performance information that follows gives some indication of the risks of investing in the Fund. The bar chart shows the Fund's performance for the last calendar year, and the table compares the Fund's average annual returns with those of a broad measure of market performance. Please note that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Performance information is not available for Institutional Class shares of the Fund because the Adviser has managed Institutional Class shares of the Fund for less than one calendar year as of the date of this prospectus.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</tt> <div style="display:none">~ http://www.jacobmutualfunds.com/role/OperatingExpensesData_S000027365Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jacobmutualfunds.com/role/PerformanceTableData_S000027365Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jacobmutualfunds.com/role/ShareholderFeesData_S000027365Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Russell 2000® Growth Index (reflects no deduction for fees, expenses or taxes) -0.0291 0.1451 2010-02-01 Return After Taxes on Distributions and Sale of Fund Shares -0.0905 0.0805 2010-02-01 Return After Taxes on Distributions -0.1534 0.0910 2010-02-01 JSIGX 0.00 198 679 -0.0032 2581 0.0000 1186 0.0137 0.0090 2014-01-02 0.00 0.0000 0.0195 0.0227 0.00 JSCGX Worst Quarter Best Quarter 0.00 2012-09-30 Return Before Taxes 228 2010-12-31 779 -0.2718 -0.0037 2927 -0.0200 1357 0.2286 -0.1393 0.0137 0.0090 2014-01-02 2011-09-30 year to date return -0.1393 0.00 0.0035 0.0225 0.0262 0.1005 2010-02-01 0.1452 0.00 <tt>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. During the most recent fiscal year, the Fund's portfolio turnover rate was 55.61% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.jacobmutualfunds.com/role/ExpenseExample_S000005257Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jacobmutualfunds.com/role/BarChartData_S000005257Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The Fund's primary investment objective is long-term growth of capital.</tt> <tt>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 over 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.</tt> reflects no deduction for fees, expenses or taxes <tt>The Fund seeks to achieve its investment objectives by investing, under normal circumstances, at least 80% of its assets in securities of Internet companies and companies in Internet-related industries. The Fund primarily invests in common stocks and securities convertible into common stocks, but may invest up to 35% in fixed income or debt securities. The Internet is a collection of connected computers that allows commercial and professional organizations, educational institutions, government agencies, and consumers to communicate electronically, access and share information, and conduct business around the world. The Adviser selects investments in companies that derive a substantial portion of their revenue from Internet or Internet-related businesses or those that are aggressively developing and expanding their Internet and Internet-related business operations. The Adviser believes that the Internet offers unique investment opportunities because of its ever-growing popularity among business and personal users alike. Many Internet companies are newer and have small to medium market capitalizations. The Fund invests in companies that emphasize research and development with respect to proprietary products and services for Internet users and businesses, because the Adviser believes that these stocks have the greatest potential to rise in value. The Adviser's overall stock selections are based on an assessment of a company's fundamental prospects. The Fund generally seeks to purchase securities as long-term investments, but when circumstances warrant, securities may be sold without regard to the length of time they have been held to reduce risk or volatility or to respond to changing fundamental information. The Fund may invest without limitation in foreign securities, including securities of emerging market countries, so that the Fund has the flexibility to take full advantage of investment opportunities in Internet companies and companies in Internet-related industries. The Fund intends to hold some cash, short-term debt obligations, government securities or other high-quality investments for reserves to cover redemptions and unanticipated expenses, to seek income, or to maintain liquidity while seeking appropriate investments.</tt> JACOB INTERNET FUND <tt>Current income is a secondary objective.</tt> Example: After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Investment Objectives Please note that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Investing in a mutual fund has inherent risks, which could cause you to lose money. Principal Risks Shareholder Fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: The return after taxes on distribution and sale of fund shares may be higher than the return before taxes because the method of calculation assumes generally that you can use the short-term capital loss realized upon the sale of fund shares to offset income of the same tax character from other sources thereby reducing the amount of tax you otherwise might owe. 0.5561 Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Annual Total Returns as of December 31, 2011 (Investor Class) Performance Information <tt>After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The return after taxes on distribution and sale of fund shares may be higher than the return before taxes because the method of calculation assumes generally that you can use the short-term capital loss realized upon the sale of fund shares to offset income of the same tax character from other sources thereby reducing the amount of tax you otherwise might owe.</tt> The performance information that follows gives some indication of the risks of investing in the Fund. <tt>As of September 30, 2012, the Fund's year to date return was 16.24%. Best Quarter      Q4   2002   60.00% Worst Quarter     Q3   2001  -51.20%</tt> Annual Fund Operating Expenses (expenses paid each year as a percentage of the value of your investment) Average Annual Total Returns as of December 31, 2011 Portfolio Turnover <tt>Investing in a mutual fund has inherent risks, which could cause you to lose money. The principal risks of investing in the Fund, and the circumstances that could adversely affect the Fund's net asset value and total return, are listed below. ·  Market Risk: Even when the stock market in general is rising, the stocks          selected by the Adviser may decline. Prices of common stocks of even the best    managed, most profitable corporations are subject to market risk, which means    their stock prices can decline. In addition, swings in investor psychology or    significant trading by large institutional investors can result in price          fluctuations. The Adviser may not be able to sell stocks at an optimal time or    price.                                                                            ·  Internet Company Risk: Many Internet-related companies have incurred large        losses since their inception and will continue to incur large losses in the       hope of capturing market share and generating future revenues. Accordingly,       many such companies expect to incur significant operating losses for the          foreseeable future, and may never be profitable.                                  ·  Computer/Internet Technology Risk: Companies in the rapidly changing field of    computer/Internet technology face special risks. For example, their products      or services may not prove commercially successful or may become obsolete          quickly. The value of the Fund's shares may be susceptible to factors             affecting the computer/Internet technology area and to greater risk and market    fluctuation than an investment in a fund that invests in a broader range of       portfolio securities not concentrated in any particular area or industry.    The computer/Internet technology area may be subject to greater governmental          regulation than many other areas and changes in governmental policies and the    need for regulatory approvals may have a material adverse effect on these         areas. Additionally, companies in these areas may be subject to risks of          developing technologies, competitive pressures and other factors and are          dependent upon consumer and business acceptance as new technologies evolve.    ·  Smaller Capitalized or Unseasoned Company Risk: The Adviser believes that         smaller capitalized or unseasoned companies generally have greater earnings       and sales growth potential than larger capitalized companies. However,            investments in smaller capitalized or unseasoned companies may involve greater    risks, in part because they have limited product lines, markets and financial    or managerial resources. In addition, less frequently-traded securities may be    subject to more abrupt price movements than securities of larger capitalized      companies.                                                                        ·  Convertible Securities Risk: The market value of convertible securities tends    to decline as interest rates increase and, conversely, to increase as interest    rates decline. In addition, convertible securities generally offer lower          interest or dividend yields than non-convertible securities of similar            quality.                                                                          ·  Foreign and Emerging Market Risk: The risks of investing in foreign companies,    including those located in emerging market countries, can increase the potential    for losses in the Fund and may include currency fluctuations, political and    economic instability, less government regulation, less publicly available    information, limited trading markets, differences in financial reporting    standards and less stringent regulation of securities markets. Foreign    securities markets generally have less volume than U.S. securities exchanges    and securities of some foreign companies are less liquid and more volatile    than securities of comparable U.S. companies. Additional risks include future    political and economic developments, the possibility that a foreign    jurisdiction might impose or increase withholding taxes on income payable    with respect to foreign securities, the possible seizure, nationalization    or expropriation of the foreign issuer or foreign deposits (in which the    Fund could lose its entire investment in a certain market) and the      possible adoption of foreign governmental restrictions such as exchange           controls.                                                                         ·  Fixed Income Risk: Yields and principal values of fixed income securities         (bonds) will fluctuate. Generally, values of fixed income securities change       inversely with interest rates. As interest rates go up, the value of debt         securities tends to go down. As a result, to the extent the Fund holds fixed      income investments, the value of the Fund may go down.</tt> Fees and Expenses Principal Investment Strategies The Fund seeks to achieve its investment objectives by investing, under normal circumstances, at least 80% of its assets in securities of Internet companies and companies in Internet-related industries. <tt>The performance information that follows gives some indication of the risks of investing in the Fund. The bar chart shows the Fund's performance from year to year, and the table compares the Fund's average annual returns with those of two broad measures of market performance and an index of Internet stocks. Please note that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</tt> <div style="display:none">~ http://www.jacobmutualfunds.com/role/OperatingExpensesData_S000005257Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jacobmutualfunds.com/role/PerformanceTableData_S000005257Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.jacobmutualfunds.com/role/ShareholderFeesData_S000005257Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Bloomberg U.S. Internet Index (reflects no deduction for fees, expenses or taxes) -0.0587 0.0171 0.0133 NASDAQ Composite Index (reflects no deduction for fees, expenses or taxes) -0.0079 0.0250 0.0374 S&P® 500 Index (reflects no deduction for fees, expenses or taxes) 0.0211 -0.0025 0.0292 Return After Taxes on Distributions and Sale of Fund Shares -0.0589 0.0042 0.1061 Return After Taxes on Distributions -0.0906 0.0043 0.1174 JAMFX -0.1304 Worst Quarter Best Quarter 0.00 2012-09-30 Return Before Taxes 290 2002-12-31 889 -0.5120 0.3230 0.3545 3195 -0.0200 1513 -0.0080 0.6000 -0.0906 0.0127 -0.5115 0.0125 2001-09-30 0.7188 0.0052 0.1080 Fund's year to date return -0.0906 0.00 1.0125 0.0035 0.1183 0.0287 0.1624 0.1624 0.00 0001090372 ck0001090372:SummaryS000005257Memberck0001090372:S000005257Memberck0001090372:C000014360Member 2012-12-29 2012-12-29 0001090372 ck0001090372:SummaryS000005257Memberck0001090372:S000005257Memberrr:AfterTaxesOnDistributionsMemberck0001090372:C000014360Member 2012-12-29 2012-12-29 0001090372 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2012-12-29 0001090372 ck0001090372:SummaryS000027366Memberck0001090372:S000027366Memberck0001090372:RRINDEX00001Member 2012-12-29 2012-12-29 0001090372 ck0001090372:SummaryS000027366Memberck0001090372:S000027366Member 2012-12-29 2012-12-29 0001090372 ck0001090372:SummaryS000038991Memberck0001090372:S000038991Memberck0001090372:C000119838Member 2012-12-29 2012-12-29 0001090372 ck0001090372:SummaryS000038991Memberck0001090372:S000038991Memberck0001090372:C000119839Member 2012-12-29 2012-12-29 0001090372 ck0001090372:SummaryS000038991Memberck0001090372:S000038991Member 2012-12-29 2012-12-29 0001090372 2012-12-29 2012-12-29 pure iso4217:USD Jacob Asset Management of New York LLC, the Fund's investment adviser (the "Adviser"), has contractually agreed, through at least January 2, 2014, to waive up to 100% of its advisory fees to the extent that the Total Annual Fund Operating Expenses (excluding any taxes, interest, brokerage fees, acquired fund fees and expenses, and extraordinary expenses) exceed 2.25% or 1.95% for Investor Class shares and Institutional Class shares, respectively, of each class' average daily net assets. Pursuant to this fee waiver agreement, the Adviser is entitled to recoup any fees that it waived for a period of three years following such fee waivers to the extent that such recoupment will not cause the Fund to exceed any applicable expense limitation that was in place for the Fund when the fees were waived. Please note that the maximum waiver is 0.90%, which means that the Fund's overall expenses could exceed 2.25% for Investor Class shares or 1.95% for Institutional Class shares. This waiver agreement may only be terminated by the Board. Please note that the percentage of Annual Fund Operating Expenses shown has been restated to reflect current fees following the reorganization of the Jacob Small Cap Growth Fund II (formerly PineBridge US Small Cap Growth Fund) series of Jacob Funds II (formerly PineBridge Mutual Funds) into the Fund on November 12, 2012. Jacob Asset Management of New York LLC, the Fund's investment adviser (the "Adviser"), has contractually agreed , through at least January 2, 2014, to waive up to 100% of its advisory fees, to the extent that the Total Annual Fund Operating Expenses (excluding any taxes, interest, brokerage fees, acquired fund fees and expenses, and extraordinary expenses) would exceed 1.95% of average daily net assets. Pursuant to this fee waiver agreement, the Adviser is entitled to recoup any fees that it waived for a period of three years following such fee waivers to the extent that such recoupment will not cause the Fund's expenses to exceed 1.95%. Please note that the maximum waiver is 0.50%, which means that the Fund's overall expenses could exceed 1.95%, as is the case above. This waiver agreement may only be terminated by the Board. Jacob Asset Management of New York LLC, the Fund's investment adviser (the "Adviser"), has contractually agreed, through at least January 2, 2014, to waive up to 100% of its advisory fees to the extent that the Total Annual Fund Operating Expenses (excluding any taxes, interest, brokerage fees, acquired fund fees and expenses, and extraordinary expenses) exceed 2.45% or 2.15% for Investor Class shares and Institutional Class shares, respectively, of each class' average daily net assets. Pursuant to this fee waiver agreement, the Adviser is entitled to recoup any fees that it waived for a period of three years following such fee waivers to the extent that such recoupment will not cause the Fund to exceed any applicable expense limitation that was in place for the Fund when the fees were waived. Please note that the maximum waiver is 1.20%, which means that the Fund's overall expenses could exceed 2.45% for Investor Class shares or 2.15% for Institutional Class shares. This waiver agreement may only be terminated by the Board. 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Cap Growth Fund Share Class [Domain] Share Classes Shareholder Fees [Abstract] Shareholder Fees: Shareholder Fees Caption Shareholder Fees Caption [Text] Shareholder Fees Table [Text Block] Shareholder Fees [Table] Strategy Heading Strategy [Heading] Strategy Narrative [Text Block] Strategy Narrative [Text Block] Strategy Portfolio Concentration Strategy Portfolio Concentration [Text] Jacob Internet Fund (Prospectus Summary) Summary S 000005257 [Member] Jacob Internet Fund (Prospectus Summary) Jacob Small Cap Growth Fund (Prospectus Summary) Summary S 000027365 [Member] Jacob Small Cap Growth Fund (Prospectus Summary) Jacob Wisdom Fund (Prospectus Summary) Summary S 000027366 [Member] Jacob Wisdom Fund (Prospectus Summary) Jacob Micro Cap Growth Fund (Prospectus Summary) Summary S 000038991 [Member] Jacob Micro Cap Growth Fund (Prospectus Summary) Trading Symbol Trading Symbol Year To Date Return Label Year to Date Return, Label EX-101.PRE 7 ck0001090372-20120831_pre.xml PRESENTATION 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