Securities Act Registration No. 333-183018
Investment Company Act Registration No. 811-22729
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
¨
¨
Pre-Effective Amendment No. __
ý
Post-Effective Amendment No._1_
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
¨
ý
Amendment No. 3
(Check appropriate box or boxes.)
The Eudora Funds
(Exact Name of Registrant as Specified in Charter)
8000 Town Centre Drive, Suite 400
Broadview Heights, Ohio 44147
(Address of Principal Executive Offices)(Zip Code)
Registrants Telephone Number, including Area Code: (347) 559-6565
CT Corporation System
1300 East 9th Street
Cleveland, OH 44114
(Name and Address of Agent for Service)
With copy to:
JoAnn M. Strasser, Thompson Hine LLP
41 S. High Street, Suite 1700
Columbus, Ohio 43215
Approximate date of proposed public offering: As soon as practicable after the effective date of the Registration Statement.
It is proposed that this filing will become effective:
ý 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.
The Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Post-Effective Amendment to the Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Columbus, State of Ohio, on the 21st day of December, 2012.
The Eudora Funds
By: /s/JoAnn M. Strasser____
JoAnn M. Strasser
Attorney-in-Fact
|
Pursuant to the requirements of the Securities Act of 1933, this Amendment to Registration Statement has been signed below by the following person in the capacities on the 21st day of December, 2012.
Name
Title
Jeffrey Meyers*
Trustee
Ruvin Levavi*
Trustee
Sion Nuseiri*
Trustee
David A. Cohen*
Trustee, President (Principal Executive Officer) and Treasurer (Principal Financial Officer)
By:
/s/JoAnn M. Strasser
JoAnn M. Strasser
Attorney-in-Fact
Exhibit Index
Index NoDescription of Exhibit
1.
EX-101.INS
XBRL Instance Document
2.
EX-101.SCH
XBRL Taxonomy Extension Schema Document
3.
EX-101.CAL
XBRL Taxonomy Extension Calculation Linkbase
4.
EX-101.DEF
XBRL Taxonomy Extension Definition Linkbase
5.
EX-101.LAB
XBRL Taxonomy Extension Labels Linkbase
6. EX-101.PRE .XBRL Taxonomy Extension Presentation Linkbase
"+ text.join( "
\n" ) +"
" + text[p] + "
\n"; } } }else{ formatted = '' + raw + '
'; } html = ''+ "\n"+''+ "\n"+''+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+' | '+ "\n"+'
'+ "\n"+' | '+ "\n"+' '+ "\n"+'
'+ "\n"+' | '+ "\n"+' '+ "\n"+'
The Eudora Fund | ||||||||||||||||||||||||||||||
Investment Objective |
||||||||||||||||||||||||||||||
Long-term capital appreciation. |
||||||||||||||||||||||||||||||
Fees and Expenses of the Fund |
||||||||||||||||||||||||||||||
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. |
||||||||||||||||||||||||||||||
Shareholder Fees (fees paid directly from your investment) |
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||
Example |
||||||||||||||||||||||||||||||
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. Although your actual costs may be higher or lower, based upon these assumptions your costs would be: |
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||
Portfolio Turnover |
||||||||||||||||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover 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. |
||||||||||||||||||||||||||||||
Principal Investment Strategies |
||||||||||||||||||||||||||||||
The Fund's adviser seeks to achieve the Fund's investment objective by investing primarily in (1) common stocks, (2) fixed income securities (i.e., high yield bonds (commonly referred to as "junk bonds"), investment grade corporate bonds and government issued bonds), (3) exchange-traded funds ("ETFs") that invest primarily in common stocks or fixed income securities and (4) options on common stocks, equity index sector ETFs and equity indexes. The Fund will focus its ETF investments in index sector-based ETFs. The Fund invests without restriction as to issuer or counterparty capitalization, country, currency, or fixed income security credit quality or maturity, whether held directly or through ETFs. The Fund expects the fixed income portion of the portfolio to have a duration of 10 years or less. Duration is a measure of a fixed income security's average life that reflects the present value of the security's cash flow, and accordingly, is a measure of price sensitivity to interest rate changes. Duration is expressed in years, like maturity, but it is a better indicator of price sensitivity than maturity because it takes into account the time value of cash flows generated over the security's life. Future interest and principal payments are discounted to reflect their present value and then are multiplied by the number of years they will be received to produce a value expressed in years. You can estimate the effect of interest rates on a fixed income portfolio share price by multiplying the portfolio's duration by an expected change in interest rates. For example, the values of a fixed income portfolio with a duration of three years would be expected to fall approximately 3% if interest rates rose by one percentage point.
Fixed income securities will be composed primarily of lower quality debt instruments, commonly known as "high yield" or "junk" bonds, some of which may be delinquent, in default or structured as zero coupon bonds that do not pay interest until maturity. The Fund defines junk bonds as those rated lower than Baa3 by Moody's Investors Service ("Moody's") or lower than BBB- by Standard and Poor's Rating Group ("S&P"), or, if unrated, determined by the adviser to be of similar credit quality. The adviser selects fixed income securities based on interest income, potential for capital appreciation or both. Foreign common stocks will be represented primarily by American Depositary Receipts ("ADRs") and to a lesser extent, securities traded on foreign exchanges. The Fund is non-diversified, which means that the Fund may take a larger position in a small number of companies than a diversified fund.
The adviser uses in-depth fundamental analysis to identify securities trading at levels that it believes offer an attractive long-term rate of return relative to their inherent risk measured as the potential for a permanent impairment in the value of the security. The assessment of risk and potential return is focused on the valuation, durability of the underlying businesses, and the capital allocation policies of an issuer. To hedge against market, sector or security-specific declines, the adviser purchases protective put options, writes call options (including on assets the Fund does not own), buys inverse ETFs or sells ETFs short. Such derivatives, used for hedging purposes, may represent up to 100% of the Fund's investment portfolio. The adviser also uses options as substitutes for underlying assets. The adviser sells securities when it believes they no longer provide a compelling return relative to risk, fundamentals have deteriorated or more attractive investments are available. The adviser selects securities that it believes will produce income from dividends and produce capital appreciation. Additionally, the Fund writes stock index and single stock options to generate what is commonly referred to as income (although premiums received are classified as a capital transaction for accounting and tax purposes and thus as source of capital appreciation) and to reduce exposure to stock market price declines, to the extent of the call option premium received. |
||||||||||||||||||||||||||||||
Principal Investment Risks |
||||||||||||||||||||||||||||||
As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. Many factors affect the Fund's net asset value and performance. The following risks apply to the Fund directly and indirectly through ETFs.
Equity Risk. Equity securities may lose value because of factors affecting an entire industry or sector, such as increases in production costs or factors directly related to a specific company, such as decisions made by its management. This risk is greater for small and medium sized companies, which tend to be more vulnerable to adverse developments than larger companies.
ETF Risk. ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. The cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest solely in stocks and bonds. Inverse ETFs limit the Fund's participation in market gains.
Fixed Income Risk. When the Fund invests in fixed income securities, the value of the Fund will fluctuate with changes in interest rates. Defaults by fixed income issuers in which the Fund invests will also harm performance.
Foreign Investing Risk. Foreign investing involves risk of adverse fluctuations in foreign currency values as well as adverse political, social and economic developments affecting a foreign country. In addition, foreign investing involves less publicly available information, and more volatile or less liquid securities markets. These risks are more pronounced in emerging market countries, which also tend to have relatively unstable governments and fewer legal protections for investors.
Junk Bond Risk. Lower-quality bonds, known as "high yield" or "junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund's ability to sell its bonds. The lack of a liquid market for these bonds could decrease the Fund's share price.
Limited History of Operations. The Fund is a new mutual fund and has a limited history of operation and the adviser has not previously managed a mutual fund.
Management Risk. The adviser's judgments about the attractiveness, value and potential appreciation of securities and options in which the Fund invests may prove to be incorrect and there is no guarantee that the adviser's judgment will produce the desired results.
Market Risk. Factors such as domestic and international economic growth, market conditions, interest rate levels and political events may adversely affect the securities markets.
Non-Diversification Risk. The Fund's portfolio may focus on a limited number of investments and will be subject to potential for volatility than a diversified fund.
Option Risk. Purchased options may expire worthless and may have imperfect correlation to the value of the hedged asset. Written call options expose the Fund to potential large losses, including potentially unlimited losses when the Fund does not own the reference asset. Written call options on portfolio securities that the Fund holds will prevent the Fund from participating in gains, including potential capital appreciation, on the reference asset, in exchange for current income. Written options may also have imperfect correlation to the value of assets they are intended to hedge.
Security Specific Risk. The price of a security may decrease in response to the issuers actions and financial prospects.
Short Position Risk. If the market price of the ETF sold short increases between the date of the short sale and the date the ETF is replaced, the Fund will incur a loss.
Smaller Company Risk. Smaller companies may experience higher failure rates than do larger companies. Securities of smaller companies may trade less frequently and in smaller volumes than the securities of larger companies, which may disproportionately affect their market price. |
||||||||||||||||||||||||||||||
PERFORMANCE |
||||||||||||||||||||||||||||||
Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. In the future, performance information will be presented in this section of the Prospectus. Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.eudorafunds.com or by calling 1-866-232-3837. |
||||||||||||||||||||||||||||||
TYYL)6^LPX'*YQ^G/R+32J"._(;P;QNO$OICH0)
MHS)SQH0^*D9?"]50DU,3EV68-O36,:VRB"NLJJ&P2^HG&BPP?;@AZ_17IOJ[
M`MD=41!V90[`07R("AOH*[>",C/@0)O$44MV\Q"ZHES6#"+ <&2:8
|