Securities Act File No. 333-151672
Investment Company Act File No. 811-22208
UNITED STATES
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. 118 | x |
and/or
REGISTRATION STATEMENT
UNDER
THE INVESTMENT COMPANY ACT OF 1940 | x | |||
Amendment No. 119 | x |
VALUED ADVISERS TRUST
(Exact Name of Registrant as Specified in Charter)
2960 N. Meridian St., Suite 300, Indianapolis, Indiana 46208
(Address of Principal Executive Offices, Zip Code)
Registrants Telephone Number, including Area Code: (317) 917-7000
Capitol Services, Inc.
615 S. Dupont Hwy., Dover, Delaware 19901
(Name and Address of Agent for Service)
With Copies to:
John H. Lively
The Law Offices of John H. Lively & Associates, Inc.
A member firm of The 1940 Act Law Group
2041 W. 141st Terrace, Suite 119
Leawood, KS 66224
It is proposed that this filing will become effective:
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); or |
¨ | 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 No. 118 to the Trusts Registration Statement on Form N-1A is filed for the sole purpose of submitting the XBRL exhibits for the risk/return summary first provided in Post-Effective Amendment No. 110 filed on March 4, 2013 and incorporates Parts A, B and C from said amendment.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 (Securities Act) and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act and has duly caused this Post-Effective Amendment No. 118 to the Registrants Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Indianapolis, and State of Indiana on this 19th day of March, 2013.
VALUED ADVISERS TRUST | ||
By: | * | |
R. Jeffrey Young, President |
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the date indicated.
* | March 19, 2013 | |||
Dr. Merwyn Vanderlind, Trustee | Date | |||
* | March 19, 2013 | |||
Ira Cohen, Trustee | Date | |||
* | March 19, 2013 | |||
R. Jeffrey Young, President and Trustee | Date | |||
/s/ Robert W. Silva | March 19, 2013 | |||
Robert W. Silva, Treasurer and Principal Financial Officer |
Date |
*By: | /s/ Carol J. Highsmith | March 19, 2013 | ||||
Carol J. Highsmith, Vice President, Attorney in Fact | Date |
INDEX TO EXHIBITS
(FOR REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 AND THE
INVESTMENT COMPANY ACT OF 1940)
EXHIBIT NO. UNDER PART C OF FORM N-1A |
NAME OF EXHIBIT | |
EX-101.ins | XBRL Instance Document | |
EX-101.sch | XBRL Taxonomy Extension Schema Document | |
EX-101.cal | XBRL Taxonomy Extension Calculation Linkbase Document | |
EX-101.lab | XBRL Taxonomy Extension Labels Linkbase | |
EX-101.pre | XBRL Taxonomy Extension Presentation Linkbase Document | |
EX-101.def | XBRL Taxonomy Extension Definition Linkbase |
Class A Shares | Cloud Capital Strategic Mid Cap Fund | ||||||||||||||||||||||||||||
CLOUD CAPITAL STRATEGIC MID CAP FUND | ||||||||||||||||||||||||||||
Investment Objective | ||||||||||||||||||||||||||||
The investment objective of the Cloud Capital Strategic Mid Cap Fund (the “Mid Cap Fund”) is to consistently deliver excess returns relative to the S&P MidCap 400® Index over three- to five-year time horizons. | ||||||||||||||||||||||||||||
Fees and Expenses of the Fund | ||||||||||||||||||||||||||||
The table below describes the fees and expenses that you may pay if you buy and hold Class A shares of the Mid Cap Fund. You may qualify for sales charge discounts or waivers if you and your family invest, or agree to invest in the future, at least $25,000 in the Fund. More information about these and other discounts or waivers is available from your financial professional and in the section “How to Buy Shares — Sales Charges” on page 21 of this prospectus. | ||||||||||||||||||||||||||||
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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Expense Example: | ||||||||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Mid Cap 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 Mid Cap Fund’s operating expenses remain the same. Only the one year number shown below reflects the Adviser’s agreement to waive fees and/or reimburse Fund expenses. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||||||||||||||||
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Portfolio Turnover | ||||||||||||||||||||||||||||
The Mid Cap 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 operating expenses or in the example above, affect the Mid Cap Fund’s performance. For the period June 29, 2011 (commencement of operations) to May 31, 2012, the Mid Cap Fund’s portfolio turnover was 178.49%. | ||||||||||||||||||||||||||||
Principal Investment Strategies | ||||||||||||||||||||||||||||
The Mid Cap Fund normally invests at least 80% of its assets in common stocks within a range of the market capitalizations of the issuers represented in the S&P MidCap 400® Index (the Fund’s benchmark), which is a market-value weighted index consisting of 400 domestic stocks chosen for market size, liquidity, and industry group representation. As of December 31, 2012, the S&P MidCap 400® Index included companies with market capitalizations between $404 million and $17 billion. Cloud Capital LLC (the “Adviser”) utilizes proprietary industry allocation, reweighting and rebalancing strategies, which utilize quantitative and qualitative metrics, to seek to generate a higher total return than that of the S&P MidCap 400® Index. The strategies may include quantitative information and narratives that reflect interpretations of corporate data and company and industry developments. The strategies may also include qualitative information such as information on a company’s balance sheet, returns on equity, ability to generate free cash flow, accounting methods, and financial disclosure. The Adviser generally maintains an equal amount of its allocation in each industry sector of the benchmark Index and will generally rebalance to an equal sector allocation bi-annually or more frequently. Decisions on the elimination of certain securities or sectors from the Mid Cap Fund’s portfolio or to overweight relative to the Index as well as decisions regarding rebalancing times and parameters will be made by the Adviser based on broad market analysis and fundamental evaluation of specific companies, among other factors. The Mid Cap Fund may invest in the securities of other investment companies, including exchange-traded funds (“ETFs”), that invest primarily in equity securities. The Mid Cap Fund may also invest in securities of issuers that are not part of the Fund’s benchmark Index and may invest in foreign (including emerging markets) issuers in addition to securities of domestic issuers. The Adviser may sell a security when it is no longer represented in the Fund’s benchmark Index. The Adviser may also sell a security if inclusion of the security in the Fund’s portfolio is inconsistent with the guidance generated by the Adviser’s proprietary industry allocation, reweighting and rebalancing strategies. |
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Principal Risks | ||||||||||||||||||||||||||||
The principal risks of investing in the Mid Cap Fund are summarized below. There may be circumstances that could prevent the Fund from achieving its investment goal and you may lose money by investing in the Mid Cap Fund. You should carefully consider the Mid Cap Fund’s investment risks before deciding whether to invest in the Fund.
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Performance | ||||||||||||||||||||||||||||
The bar chart below shows how the Fund’s investment results have varied from year to year as represented by the performance of Institutional Class shares. The table below shows how the Fund’s Institutional Class Shares average annual total returns compare over time to those of a broad-based securities market index. As of the date of this prospectus, Class A shares had not been issued. This information provides some indication of the risks of investing in the Fund. Past performance (before and after taxes) of the Fund is no guarantee of how it will perform in the future. | ||||||||||||||||||||||||||||
Annual Total Return (years ended December 31st) | ||||||||||||||||||||||||||||
Highest/Lowest quarterly results during this time period were: Best Quarter: 1st Quarter, 2012, 9.48% Worst Quarter: 2nd Quarter, 2012, -4.13% |
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Average Annual Total Returns (for the periods ended December 31, 2012) | ||||||||||||||||||||||||||||
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After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect 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 (“IRAs”). Current performance of the Fund may be lower or higher than the performance quoted above. Performance data current to the most recent month end may be obtained by calling (877) 670-2227. |