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WesMark Small Company Growth Fund
Summary Sections WesMark Small Company Growth Fund
INVESTMENT OBJECTIVE

The WesMark Small Company Growth Fund (the Fund) seeks to achieve capital appreciation.

FEES AND EXPENSES OF THE FUND

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
WesMark Small Company Growth Fund
WesMark Small Company Growth Fund Shares
Management Fees 0.75%
Distribution (12b-1) Fees none
Shareholder Services Fee 0.25% [1]
Other Expenses 0.26%
Acquired Fund Fees & Expenses 0.01%
Total Annual Fund Operating Expenses 1.27%
[1] The shareholder services fee will be paid to financial intermediaries, including affiliates of the Adviser, for the provision of certain shareholder services.
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 and returns may be higher or lower, based on these assumptions your costs would be:

Expense Example
One Year
Three Years
Five Years
Ten Years
WesMark Small Company Growth Fund | WesMark Small Company Growth Fund Shares | USD ($) 129 403 697 1,532
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 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 50% of the average value of its portfolio.

Principal Investment Strategies of the Fund

The Fund pursues its investment objective by investing at least 80% of the value of its net assets in equity securities of small capitalization companies. In creating a diversified portfolio of investments in small-sized companies, WesBanco Investment Department, a division of WesBanco Bank, Inc. (the Adviser), defines small companies as companies that do not exceed the market capitalizations in the Russell 2000® Index (Russell 2000), or the Standard & Poor's SmallCap 600® Index (S&P 600) at the time of purchasing a security. As of January 31, 2020, the market capitalization of the Russell 2000 ranged from approximately $763 million to $7.9 billion, and as of January 31, 2020, the market capitalization of the S&P 600 ranged from approximately $87 million to $4.6 billion.

 

The Adviser seeks to select common stocks of companies with growth characteristics, such as above-average earnings growth potential or where significant changes are taking place, such as new products, services, or methods of distribution, or overall business restructuring. The Fund will invest primarily in securities issued by domestic companies. The Fund may purchase exchange traded funds (ETFs) or other investment companies, in order to achieve exposure to a specific market sector, to achieve exposure to foreign markets (which may include emerging markets) or for other reasons consistent with its investment strategy. The shares of ETFs are listed and traded on stock exchanges at market prices. The Fund may also purchase American Depository Receipts (ADRs) and other domestically traded securities of foreign companies.

 

For additional information on the Fund's investment strategies, please see the section "More About the Funds' Investment Strategies and Risks" beginning on page 28 of this prospectus.

Principal Risks of Investing in the Fund

The loss of money is a risk of investing in this Fund. Other principal risks of investing in the Fund are below.

 

Stock Market Risks: The value of equity securities rise and fall. The portfolio of a Fund investing in equity securities will reflect changes in prices of individual stocks held in the Fund's portfolio. Consequently, the Fund's share price may decline.
Risks Related to Investing for Growth: Growth stocks depend more on price changes for returns and may be more adversely affected in a down market compared to value stocks.
Risks Related to Company Size: The smaller the capitalization of a company, the less liquid its stock and the more volatile its price.
Liquidity Risks: A Fund may not be able to sell a security when it wants. Liquidity risk may make it more difficult to sell or buy a security at a favorable price or time.
Sector Risks: Certain market sectors may underperform other sectors or the market as a whole.
Risks of Foreign Investing: Political, social, currency-rate fluctuations, and economic instability within foreign countries may cause the value of the Fund's foreign investments to decline.
Risks of Emerging Markets: Investments in emerging markets are subject to all the risks associated with foreign investing; however, these risks may be magnified in emerging markets. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, confiscatory taxation or, in certain instances, reversion to closed market, centrally planned economies. Generally, countries are considered emerging markets if they are included in any one of the MSCI emerging markets indices.
Exchange-Traded Funds Risks:

ETFs may be subject to the following risks that do not apply to conventional mutual funds:

» the market price of an ETF's shares may trade above or below their net asset value;

» an active trading market for an ETF's shares may not develop or be maintained; or

» trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate.

Investing in ETFs may result in higher fees and expenses for a Fund, because the Fund and its shareholders will bear a pro rata portion of the ETF's fees and expenses.

Risks of Investing in ADRs and Domestically Traded Securities of Foreign Issuers: Because the Fund may invest in ADRs and other domestically traded securities of foreign companies, the Fund's share price may be more affected by foreign economic and political conditions, taxation policies, and accounting and auditing standards than would otherwise be the case.
Manager Risk: The Fund is actively managed and the investment techniques and security selection used by the Fund's managers may not produce the desired results and may cause the Fund to underperform relevant benchmarks or other funds with a similar investment objective.

 

An investment in the Fund is not a deposit of any bank, including WesBanco Bank, Inc., and is not insured, endorsed or guaranteed by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other government agency.

 

For more information regarding the risks of investing in the Fund, please see the section "More About the Funds' Investment Strategies and Risks" beginning on page 28 of this prospectus.

Fund Performance

The performance information shown below will help you analyze the Fund's investment risks in light of its historical returns. The Risk/Return Bar Chart shows the variability of the Fund's total returns on a calendar year-by-year basis and provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. The Average Annual Total Return Table shows returns averaged over the stated periods and shows how the Fund's average annual returns for 1, 5 and 10 years compare with those of a broad measure of market performance. The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results. Updated performance information for the Fund is available at www.wesmarkfunds.com or by calling 1-800-864-1013.

Risk/Return Bar Chart   For the periods ended December 31:
Bar Chart

Within the periods shown in the bar chart, the Fund's highest quarterly return was 19.11% (quarter ended 12/31/2011). Its lowest quarterly return was -21.77% (quarter ended 9/30/2011).

Average Annual Total Return Table

Return After Taxes is shown to illustrate the effect of federal taxes on Fund returns. 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, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or IRAs.

 

For the periods ended December 31, 2019:

 

WesMark Small Company Growth Fund

Average Annual Total Returns - WesMark Small Company Growth Fund
1 Year
5 Years
10 Years
WesMark Small Company Growth Fund Shares 20.32% 4.92% 9.09%
WesMark Small Company Growth Fund Shares | After Taxes on Distributions 20.32% 3.39% 7.97%
WesMark Small Company Growth Fund Shares | After Taxes on Distributions and Sales 12.03% 3.64% 7.34%
Russell 2000® Index (Does not reflect fees, expenses or taxes, which, if applied, would reduce the Index’s returns.) 25.53% 8.23% 11.83%
Lipper Small Cap Core Funds Average (LSCCFA) 23.81% 6.90% 10.77%

The information provided for LSCCFA represents the average of the total returns reported by mutual funds designated by Lipper, Inc. as falling into the respective category indicated. Lipper averages do not reflect sales charges.