0001398344-12-003183.txt : 20121009 0001398344-12-003183.hdr.sgml : 20121008 20121009085539 ACCESSION NUMBER: 0001398344-12-003183 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 6 FILED AS OF DATE: 20121009 DATE AS OF CHANGE: 20121009 EFFECTIVENESS DATE: 20121009 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMIDEX FUNDS INC CENTRAL INDEX KEY: 0001074440 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-68099 FILM NUMBER: 121133724 BUSINESS ADDRESS: STREET 1: 970 RITTENHOUSE ROAD CITY: EAGLEVILLE STATE: PA ZIP: 19402 BUSINESS PHONE: 888-876-3566 MAIL ADDRESS: STREET 1: 630 FITZWATERTOWN ROAD STREET 2: BUILDING A, 2ND FLOOR CITY: WILLOW GROVE STATE: PA ZIP: 19090-1904 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMIDEX FUNDS INC CENTRAL INDEX KEY: 0001074440 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-09123 FILM NUMBER: 121133725 BUSINESS ADDRESS: STREET 1: 970 RITTENHOUSE ROAD CITY: EAGLEVILLE STATE: PA ZIP: 19402 BUSINESS PHONE: 888-876-3566 MAIL ADDRESS: STREET 1: 630 FITZWATERTOWN ROAD STREET 2: BUILDING A, 2ND FLOOR CITY: WILLOW GROVE STATE: PA ZIP: 19090-1904 0001074440 S000004489 Amidex35 Israel Mutual Fund C000012356 Amidex35 Israel Mutual Fund Class A AMDAX C000012357 Amidex35 Israel Mutual Fund Class No-Load AMDEX C000012358 Amidex35 Israel Mutual Fund Class C AMDCX 485BPOS 1 fp0005589_485bpos-xbrl.htm fp0005589_485bpos-xbrl.htm
 
AMIDEXTM FUNDS, INC.

Securities Act Registration No. 333-68099
Investment Company Act Reg. No. 811-09123


SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
 
[X]
     
Pre-Effective Amendment No.
[  ]
 
     
Post-Effective Amendment No. 29
[X]
 
     
and/or
     
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
 
[X]

Amendment No. 32
(Check appropriate box or boxes.)

AMIDEX™ FUNDS, INC.
(Exact Name of Registrant as Specified in Charter)

970 RITTENHOUSE RD., EAGLEVILLE, PA
19403
(Address of Principal Executive Offices)
(Zip Code)

(610) 666-1330
(Registrant's Telephone Number, including Area Code)

CLIFFORD A. GOLDSTEIN, PRESIDENT
970 RITTENHOUSE RD
EAGLEVILLE, PA 19403
(Name and Address of Agent for Service)

With Copy To:

DAVID F. GANLEY
MATRIX CAPITAL GROUP, INC.
630 FITZWATERTOWN ROAD
BUILDING A, SECOND FLOOR
WILLOW GROVE, PA 19090

Approximate Proposed Offering:  As soon as practicable after the Registration Statement becomes effective.

It is proposed that this filing will become effective (check appropriate box)
 
[X]
immediately upon filing pursuant to Rule 485, paragraph (b)
 
[   ]
on _____________ pursuant to Rule 485, paragraph (b)
 
[   ]
60 days after filing pursuant to Rule 485, paragraph (a)(1)
 
[   ]
on _____________ pursuant to Rule 485, paragraph (a)(1)
 
[   ]
75 days after filing pursuant to Rule 485, paragraph (a)(2)
 
[   ]
on _____________ pursuant to Rule 485, paragraph (a)(2)

If appropriate, check the following box:
 
[   ]
this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

PURSUANT TO RULE 24F-2  UNDER THE  INVESTMENT  COMPANY  ACT OF 1940,  REGISTRANT HEREBY  DECLARES  THAT AN  INDEFINITE  NUMBER  OR  AMOUNT  OF  SHARES  ARE BEING REGISTERED UNDER THE SECURITIES ACT OF 1933.

 
 
 

 
 
EXPLANATORY NOTE
This Post-Effective Amendment No. 29 to the Trust's 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. 28 filed September 28, 2012 and incorporates Parts A, B and C from said amendment.
 
 
 

 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that this post effective amendment #29 to the Company's Registration Statement on Form N-1A meets all of the requirements for immediate effectiveness pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration to be signed on its behalf by the undersigned, thereto duly authorized, in the City of Norristown, and State of Pennsylvania this 9th day of October, 2012.

 
AMIDEX™ FUNDS, INC.
 
(Registrant)
   
 
/s/ Clifford A. Goldstein
 
CLIFFORD A. GOLDSTEIN
 
Its: President & Chairman

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.

Name
 
Title
 
Date
         
/s/ Clifford A. Goldstein
 
President, Chairman
 
October 9th, 2012
CLIFFORD A GOLDSTEIN
       
         
/s/ Eli Gabay
 
Director
 
October 9th, 2012
ELI GABAY
       
         
/s/ Erica Levi Zelinger
 
Director
 
October 9th, 2012
ERICA LEVI ZELINGER
       

 
 

 
 
EXHIBIT INDEX
 
Exhibit No.
Exhibit
EX-101.INS
XBRL Instance Document
EX-101.SCH
XBRL Taxonomy Extension Schema Document
EX-101.DEF
XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB
XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE
XBRL Taxonomy Extension Presentation Linkbase
EX-101.INS 2 amidex-20120930.xml XBRL INSTANCE DOCUMENT 0001074440 2012-09-30 2012-09-30 0001074440 amidex:S000004489Member amidex:C000012357Member amidex:noloadMember 2012-09-30 2012-09-30 0001074440 amidex:S000004489Member amidex:C000012357Member rr:AfterTaxesOnDistributionsMember amidex:noloadMember 2012-09-30 2012-09-30 0001074440 amidex:S000004489Member amidex:C000012357Member rr:AfterTaxesOnDistributionsAndSalesMember amidex:noloadMember 2012-09-30 2012-09-30 0001074440 amidex:S000004489Member amidex:msciwiMember amidex:C000012357Member amidex:noloadMember 2012-09-30 2012-09-30 0001074440 amidex:S000004489Member amidex:msciacMember amidex:classacMember 2012-09-30 2012-09-30 0001074440 amidex:S000004489Member amidex:noloadMember 2012-09-30 2012-09-30 iso4217:USD pure shares iso4217:USD shares 0001074440 AMIDEX FUNDS INC 485BPOS false <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><font style="font-family: Times New Roman, Times, Serif"><b>FUND SUMMARY</b></font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><u>Investment Objective</u></font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund&rsquo;s investment objective is long-term growth of capital.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><u>Fees and Expenses of the Fund</u></font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SHAREHOLDER FEES: (Fees paid directly from your investment)</p> <div style="display: none;"> ~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column dei_DocumentInformationDocumentAxis compact amidex_noloadMember ~ </div> 0 0 -0.02 0 <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">ANNUAL FUND OPERATING EXPENSES: (Expenses that are deducted from Fund assets)</p> <div style="display: none;"> ~ http://xbrl.sec.gov/rr/role/OperatingExpensesData column period compact * column dei_DocumentInformationDocumentAxis compact amidex_noloadMember row primary compact * ~ </div> 0.008 0.0025 0.0197 0.0302 <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">EXAMPLE: THIS EXAMPLE IS INTENDED TO HELP YOU COMPARE THE COSTS OF INVESTING IN THE FUND WITH THE COSTS 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 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:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">You would pay the following expenses if you did not redeem your shares:</p> <div style="display: none;"> ~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_DocumentInformationDocumentAxis compact amidex_noloadMember ~ </div> <div style="display: none;"> ~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_DocumentInformationDocumentAxis compact amidex_noloadMember ~ </div> 509 933 1587 3337 305 933 1587 3337 <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">If you hold your shares for less than 365 days, a fee of 2.00% of the net amount redeemed of your Fund shares will be charged to you as an early redemption fee.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><u>Portfolio Turnover.</u></font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &ldquo;turns over&rdquo; 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&rsquo;s performance. During the most recent fiscal year, the Fund&rsquo;s portfolio turnover rate was 1.29% of the average value of its portfolio.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><font style="font-family: Times New Roman, Times, Serif"><u>Principal Investment Strategies of the Fund.</u></font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">The Fund will invest at least 95% of its net assets in the common stocks of the companies comprising the AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Index (the &ldquo;Index&rdquo;), in approximately the same percentages as those companies are included in the Index or until the Fund&rsquo;s net assets reach $25 million, the Adviser may invest Fund assets in a representative sample of Index securities and other permissible securities. The AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Index is an unmanaged index consisting of the 35 largest publicly traded Israeli companies, as measured by market capitalization. The Adviser, Index Investments, LLC is responsible for calculating and maintaining the Index.</font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><font style="font-family: Times New Roman, Times, Serif"><u>Principal Risks of Investing in the Fund.</u></font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">GENERAL RISK - As is the case with most investments, you may lose money by investing in the Fund. The Fund&rsquo;s share prices will fluctuate each day, depending on the changing value of the securities making up the Fund&rsquo;s portfolio. On any given day, your shares may be worth less than what you paid for them.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">STOCK RISK - The Fund invests in the stocks of companies included in the AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Index. The AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Index is an unmanaged index consisting of the 35 largest publicly traded Israeli companies, as measured by market capitalization. The Adviser, Index Investments, LLC is responsible for calculating and maintaining the Index.&nbsp;&nbsp;A company's stock that is included in the Index may fall because of problems with the company or for no readily apparent reason. Further, the stock market may suffer a general decline resulting from changing economic or political conditions, or from a lack of investor confidence. In the past, stocks and the stock market have recovered, but some stock market slumps have lasted for months and even years.</font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 11pt">&nbsp;</font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">DIVERSIFICATION RISK - The Fund is a &quot;non-diversified&quot; Fund because it primarily invests in the companies that are included in the AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Index. The AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Index is currently comprised of 35 companies, and some of these companies represent a large percentage of the Index.&nbsp;&nbsp;This may cause the performance of a fund to be dependent upon the performance of one or more selected companies, which may increase the volatility of the fund. As of August 31, 2012, four companies each individually comprise more than 5% of the Index and together made up 44.16% of the Index.&nbsp;&nbsp;Investing a larger percentage of the Fund's assets in a relatively small number of companies can be riskier than investing in a broader variety of securities because poor performance by an individual company held by the Fund will have a larger negative impact on the Fund due to the Fund's lack of diversification. </font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">INDEX RISK - The Fund invests almost exclusively in Index companies. Also, once the Fund invests in Index companies, it stays invested in those companies for as long as they remain in the Index. As a result, the Fund does not predict which stocks will outperform or under-perform, the market. If the Index stocks decrease in value, the Fund decreases in value. Also, some of the companies in the Index may not have a vigorous secondary trading market. As a result, the Fund could experience difficulties in timely buying or selling of these securities, which could have a negative impact on the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">PORTFOLIO TURNOVER RISK - The Index is adjusted to add or delete companies once per year. As companies leave and enter the Index, the Fund's portfolio will be adjusted to match the current Index composition. This practice can result in the realization of capital gains or losses and can have adverse tax consequences for you as an investor.&nbsp;&nbsp;Because the Fund will buy and sell securities as needed to maintain its correlation to the Index, portfolio turnover in the Fund may be substantial.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">SECTOR RISK - The AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Israel Mutual Fund includes companies that are identified as Israeli companies, either because they trade on the Tel Aviv Stock Exchange, or they trade on U.S. Exchanges and meet Index rules for inclusion as Israeli companies. Investing in a single market sector is riskier that investing a variety of market sectors. </font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">FOREIGN SECURITIES RISK - Investments in foreign securities involve greater risks compared to domestic investments for the following reasons:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 12pt Times New Roman, Times, Serif"> <tr style="vertical-align: top"> <td style="width: 24px; padding-top: 12pt; padding-bottom: 12pt; text-align: justify">i.</td> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">Foreign companies are not subject to the regulatory requirements of U.S. companies, so there may be less publicly available information about foreign issuers than U.S. companies.</td></tr> <tr style="vertical-align: top"> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">ii.</td> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">Foreign companies generally are not subject to uniform accounting, auditing and financial reporting standards.</td></tr> </table> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 12pt Times New Roman, Times, Serif"> <tr style="vertical-align: top"> <td style="width: 24px; padding-top: 12pt; padding-bottom: 12pt; text-align: justify">iii.</td> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">Dividends and interest on foreign securities may be subject to foreign withholding taxes. Such taxes may reduce the net return to Fund shareholders.</td></tr> <tr style="vertical-align: top"> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">iv.</td> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">Foreign securities are often denominated in a currency other than the U.S. dollar. Accordingly, the Fund will be subject to the risks associated with fluctuations in currency values. Although the Fund will only invest in foreign issuers that are domiciled in nations considered to have stable and friendly governments, there is the possibility of expropriation, confiscation, taxation, currency blockage or political or social instability which could negatively affect the Fund.</td></tr> </table> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 12pt Times New Roman, Times, Serif"> <tr style="vertical-align: top"> <td style="width: 24px; padding-top: 12pt; padding-bottom: 12pt; text-align: justify">v.</td> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">The Fund may not be able to participate in rights and offerings that are not registered for sale to a U.S. investor.</td></tr> <tr style="vertical-align: top"> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">vi.</td> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">Transactions in foreign securities may involve higher costs and typically take longer to settle than in the U.S., which may make it more difficult for the Fund to liquidate positions, thereby causing delays in the Fund&rsquo;s receipt of proceeds and a concomitant loss of potential dividend and interest income or the incurring of interest costs on debt to cover the period required until the receipt of the proceeds from these same securities.</td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">Because the AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Israel Mutual Fund invests in securities of Israeli issuers, the Fund may be exposed to special risks and considerations. There may be less information concerning Israeli securities available to the public than in the U.S. There is also potential difficulty in obtaining or enforcing a court judgment, and unique characteristics of Israeli securities and markets may have a negative impact on the Fund. Any major hostilities involving Israel, or the interruption or curtailment of trade between Israel and its present trading partners, could have a negative impact on the Fund. Shares and dividends of Israeli companies are often New Israeli Shekel (&quot;NIS&quot;) denominated. Changes in the relationship of the NIS to the dollar and other currencies could have a negative impact on the Fund. The government of Israel may change the way in which Israeli companies are taxed, or may impose taxes on foreign investment. Such actions could have an impact on the overall market for Israeli securities and on the Fund. </font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><u>Performance Information</u></font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The bar chart and table show how the Fund has performed and how its performance has varied from year to year. The bar chart gives some indication of risk by showing changes in the Fund&rsquo;s yearly performance to demonstrate that the Fund&rsquo;s value varied at different times. The table below compares the Fund&rsquo;s performance over time to that of the MSCI World Index, a widely recognized, unmanaged index. Of course, past performance (before and after taxes) does not indicate how the Fund will perform in the future.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For current performance information, call 1-888-876-3566 or visit www.amidex.com.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&lsquo;&lsquo;MSCI&rsquo;&rsquo; and the &lsquo;&lsquo;MSCI World Index&rsquo;&rsquo; are registered service marks of MSCI Inc., which does not sponsor and is in no way affiliated with the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The table shows the impact of taxes on the Fund&rsquo;s returns. The Fund&rsquo;s after-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Distributions will generally be taxed to investors as ordinary income or capital gains unless the investor holds Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Distributions to investors from such tax-deferred arrangements may be taxed when received. Also note that 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. Actual after tax returns depend on an investor&rsquo;s&nbsp;&nbsp;tax situation and may differ from those shown.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Year-by-Year Total Return as of Dec. 31st</b></p> <div style="display: none;"> ~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact amidex_C000012357Member ~ </div> -0.3955 0.5603 0.1489 0.1424 0.1004 0.261 -0.4089 0.6114 0.1518 -0.2915 <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Highest/Lowest quarterly results during this time period were:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 22%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt; background-color: white; text-align: justify">HIGHEST </td> <td style="width: 78%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt; background-color: white; text-align: justify">39.46% (quarter ended June 30, 2003) </td></tr> <tr style="vertical-align: top; background-color: gainsboro"> <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt; background-color: gainsboro; text-align: justify">LOWEST </td> <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt; background-color: gainsboro; text-align: justify">-27.77% (quarter ended December 31, 2008) </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">The year-to-date return as of the most recent calendar quarter, which ended June 30, 2012, was -11.59%.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">AVERAGE ANNUAL TOTAL RETURNS FOR CLASS NO LOAD SHARES</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the Period Ending 12/31/2011</p> <div style="display: none;"> ~ http://xbrl.sec.gov/rr/role/PerformanceTableData row period compact * row primary compact * column dei_LegalEntityAxis compact amidex_S000004489Member column rr_ProspectusShareClassAxis compact amidex_C000012357Member column rr_PerformanceMeasureAxis compact * ~</div> -0.2915 -0.0040 0.0293 -0.2915 -0.0042 0.0292 -0.1895 -0.0035 0.0253 -0.0501 -0.0176 0.0423 AMDEX The Total Annual Fund Operating Expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements because the financial statements include only direct operating expenses incurred by the Fund, not the indirect costs of investing in Underlying Funds. 0.0129 The Fund will invest at least 95% of its net assets in the common stocks of the companies comprising the AMIDEX35 Index (the "Index"), in approximately the same percentages as those companies are included in the Index or until the Fund's net assets reach $25 million, the Adviser may invest Fund assets in a representative sample of Index securities and other permissible securities. As is the case with most investments, you may lose money by investing in the Fund. DIVERSIFICATION RISK - The Fund is a "non-diversified" Fund because it primarily invests in the companies that are included in the AMIDEX35 Index. The AMIDEX35 Index is currently comprised of 35 companies, and some of these companies represent a large percentage of the Index. This may cause the performance of a fund to be dependent upon the performance of one or more selected companies, which may increase the volatility of the fund. As of August 31, 2011, eight companies each individually comprise more than 5% of the Index and together made up 61.22% of the Index. Investing a larger percentage of the Fund's assets in a relatively small number of companies can be riskier than investing in a broader variety of securities because poor performance by an individual company held by the Fund will have a larger negative impact on the Fund due to the Fund's lack of diversification. 1-888-876-3566 www.amidex.com The bar chart and table show how the Fund has performed and how its performance has varied from year to year. The bar chart gives some indication of risk by showing changes in the Fund's yearly performance to demonstrate that the Fund's value varied at different times. Of course, past performance (before and after taxes) does not indicate how the Fund will perform in the future. The year-to-date return as of the most recent calendar quarter 2012-06-30 -0.1159 HIGHEST 2003-06-30 0.3946 LOWEST 2008-12-31 -0.2777 The Fund's after-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Also note that 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. 2012-09-30 2012-09-28 2012-09-28 2012-05-31 The Total Annual Fund Operating Expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements because the financial statements include only direct operating expenses incurred by the Fund, not the indirect costs of investing in Underlying Funds. 0001074440 amidex:S000004489Member amidex:classacMember 2012-09-30 2012-09-30 0001074440 amidex:S000004489Member amidex:C000012356Member amidex:classacMember 2012-09-30 2012-09-30 0001074440 amidex:S000004489Member amidex:C000012356Member rr:AfterTaxesOnDistributionsMember amidex:classacMember 2012-09-30 2012-09-30 0001074440 amidex:S000004489Member amidex:C000012356Member rr:AfterTaxesOnDistributionsAndSalesMember amidex:classacMember 2012-09-30 2012-09-30 0001074440 amidex:S000004489Member amidex:C000012358Member amidex:classacMember 2012-09-30 2012-09-30 <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><font style="font-family: Times New Roman, Times, Serif"><b>FUND SUMMARY</b></font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><u>Investment Objective</u></font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund&rsquo;s investment objective is long-term growth of capital.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><u>Fees and Expenses of the Fund</u></font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">SHAREHOLDER FEES: (Fees paid directly from your investment)</p> <div style="display: none;"> ~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column dei_DocumentInformationDocumentAxis compact amidex_classacMember ~ </div> 0.055 0 0 0 0.01 0 <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">ANNUAL FUND OPERATING EXPENSES: (Expenses that are deducted from Fund assets)</p> <div style="display: none;"> ~ http://xbrl.sec.gov/rr/role/OperatingExpensesData column dei_DocumentInformationDocumentAxis compact amidex_classacMember row primary compact * ~ </div> 0.008 0.0025 0.0197 0.0302 0.008 0.01 0.0197 0.0377 <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">EXAMPLE: THIS EXAMPLE IS INTENDED TO HELP YOU COMPARE THE COSTS OF INVESTING IN THE FUND WITH THE COSTS 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 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:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">You would pay the following expenses if you did not redeem your shares:</p> <div style="display: none;"> ~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_DocumentInformationDocumentAxis compact amidex_classacMember ~ </div> <div style="display: none;"> ~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_DocumentInformationDocumentAxis compact amidex_classacMember ~ </div> 838 1432 2049 3703 838 1432 2049 3703 481 1152 1944 4010 379 1152 1944 4010 <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><u>Portfolio Turnover.</u></font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &ldquo;turns over&rdquo; 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&rsquo;s performance. During the most recent fiscal year, the Fund&rsquo;s portfolio turnover rate was 1.29% of the average value of its portfolio.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><font style="font-family: Times New Roman, Times, Serif"><u>Principal Investment Strategies of the Fund.</u></font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">The Fund will invest at least 95% of its net assets in the common stocks of the companies comprising the AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Index (the &ldquo;Index&rdquo;), in approximately the same percentages as those companies are included in the Index or until the Fund&rsquo;s net assets reach $25 million, the Adviser may invest Fund assets in a representative sample of Index securities and other permissible securities. The AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Index is an unmanaged index consisting of the 35 largest publicly traded Israeli companies, as measured by market capitalization. The Adviser, Index Investments, LLC is responsible for calculating and maintaining the Index.</font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><font style="font-family: Times New Roman, Times, Serif"><u>Principal Risks of Investing in the Fund.</u></font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">GENERAL RISK - As is the case with most investments, you may lose money by investing in the Fund. The Fund&rsquo;s share prices will fluctuate each day, depending on the changing value of the securities making up the Fund&rsquo;s portfolio. On any given day, your shares may be worth less than what you paid for them.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">STOCK RISK - The Fund invests in the stocks of companies included in the AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Index. The AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Index is an unmanaged index consisting of the 35 largest publicly traded Israeli companies, as measured by market capitalization. The Adviser, Index Investments, LLC is responsible for calculating and maintaining the Index.&nbsp;&nbsp;A company's stock that is included in the Index may fall because of problems with the company or for no readily apparent reason. Further, the stock market may suffer a general decline resulting from changing economic or political conditions, or from a lack of investor confidence. In the past, stocks and the stock market have recovered, but some stock market slumps have lasted for months and even years.</font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 11pt">&nbsp;</font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">DIVERSIFICATION RISK - The Fund is a &quot;non-diversified&quot; Fund because it primarily invests in the companies that are included in the AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Index. The AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Index is currently comprised of 35 companies, and some of these companies represent a large percentage of the Index.&nbsp;&nbsp;This may cause the performance of a fund to be dependent upon the performance of one or more selected companies, which may increase the volatility of the fund. As of August 31, 2012, four companies each individually comprise more than 5% of the Index and together made up 44.16% of the Index.&nbsp;&nbsp;Investing a larger percentage of the Fund's assets in a relatively small number of companies can be riskier than investing in a broader variety of securities because poor performance by an individual company held by the Fund will have a larger negative impact on the Fund due to the Fund's lack of diversification. </font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">INDEX RISK - The Fund invests almost exclusively in Index companies. Also, once the Fund invests in Index companies, it stays invested in those companies for as long as they remain in the Index. As a result, the Fund does not predict which stocks will outperform or under-perform, the market. If the Index stocks decrease in value, the Fund decreases in value. Also, some of the companies in the Index may not have a vigorous secondary trading market. As a result, the Fund could experience difficulties in timely buying or selling of these securities, which could have a negative impact on the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">PORTFOLIO TURNOVER RISK - The Index is adjusted to add or delete companies once per year. As companies leave and enter the Index, the Fund's portfolio will be adjusted to match the current Index composition. This practice can result in the realization of capital gains or losses and can have adverse tax consequences for you as an investor.&nbsp;&nbsp;Because the Fund will buy and sell securities as needed to maintain its correlation to the Index, portfolio turnover in the Fund may be substantial.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">SECTOR RISK - The AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Israel Mutual Fund includes companies that are identified as Israeli companies, either because they trade on the Tel Aviv Stock Exchange, or they trade on U.S. Exchanges and meet Index rules for inclusion as Israeli companies. Investing in a single market sector is riskier that investing a variety of market sectors. </font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">FOREIGN SECURITIES RISK - Investments in foreign securities involve greater risks compared to domestic investments for the following reasons:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 12pt Times New Roman, Times, Serif"> <tr style="vertical-align: top"> <td style="width: 24px; padding-top: 12pt; padding-bottom: 12pt; text-align: justify">i.</td> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">Foreign companies are not subject to the regulatory requirements of U.S. companies, so there may be less publicly available information about foreign issuers than U.S. companies.</td></tr> <tr style="vertical-align: top"> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">ii.</td> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">Foreign companies generally are not subject to uniform accounting, auditing and financial reporting standards.</td></tr> </table> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 12pt Times New Roman, Times, Serif"> <tr style="vertical-align: top"> <td style="width: 24px; padding-top: 12pt; padding-bottom: 12pt; text-align: justify">iii.</td> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">Dividends and interest on foreign securities may be subject to foreign withholding taxes. Such taxes may reduce the net return to Fund shareholders.</td></tr> <tr style="vertical-align: top"> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">iv.</td> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">Foreign securities are often denominated in a currency other than the U.S. dollar. Accordingly, the Fund will be subject to the risks associated with fluctuations in currency values. Although the Fund will only invest in foreign issuers that are domiciled in nations considered to have stable and friendly governments, there is the possibility of expropriation, confiscation, taxation, currency blockage or political or social instability which could negatively affect the Fund.</td></tr> </table> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 12pt Times New Roman, Times, Serif"> <tr style="vertical-align: top"> <td style="width: 24px; padding-top: 12pt; padding-bottom: 12pt; text-align: justify">v.</td> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">The Fund may not be able to participate in rights and offerings that are not registered for sale to a U.S. investor.</td></tr> <tr style="vertical-align: top"> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">vi.</td> <td style="padding-top: 12pt; padding-bottom: 12pt; text-align: justify">Transactions in foreign securities may involve higher costs and typically take longer to settle than in the U.S., which may make it more difficult for the Fund to liquidate positions, thereby causing delays in the Fund&rsquo;s receipt of proceeds and a concomitant loss of potential dividend and interest income or the incurring of interest costs on debt to cover the period required until the receipt of the proceeds from these same securities.</td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">Because the AMIDEX35</font><font style="font-size: 70%; vertical-align: text-top">TM</font><font style="font-size: 11pt"> Israel Mutual Fund invests in securities of Israeli issuers, the Fund may be exposed to special risks and considerations. There may be less information concerning Israeli securities available to the public than in the U.S. There is also potential difficulty in obtaining or enforcing a court judgment, and unique characteristics of Israeli securities and markets may have a negative impact on the Fund. Any major hostilities involving Israel, or the interruption or curtailment of trade between Israel and its present trading partners, could have a negative impact on the Fund. Shares and dividends of Israeli companies are often New Israeli Shekel (&quot;NIS&quot;) denominated. Changes in the relationship of the NIS to the dollar and other currencies could have a negative impact on the Fund. The government of Israel may change the way in which Israeli companies are taxed, or may impose taxes on foreign investment. Such actions could have an impact on the overall market for Israeli securities and on the Fund. </font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><u>Performance Information</u></font></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The bar chart and table show how the Fund has performed and how its performance has varied from year to year. The bar chart gives some indication of risk by showing changes in the Fund&rsquo;s yearly performance to demonstrate that the Fund&rsquo;s value varied at different times. The table below compares the Fund&rsquo;s performance over time to that of the MSCI World Index, a widely recognized, unmanaged index. Of course, past performance (before and after taxes) does not indicate how the Fund will perform in the future.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For current performance information, call 1-888-876-3566 or visit www.amidex.com.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&lsquo;&lsquo;MSCI&rsquo;&rsquo; and the &lsquo;&lsquo;MSCI World Index&rsquo;&rsquo; are registered service marks of MSCI Inc., which does not sponsor and is in no way affiliated with the Fund.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The table shows the impact of taxes on the Fund&rsquo;s returns. The Fund&rsquo;s after-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Distributions will generally be taxed to investors as ordinary income or capital gains unless the investor holds Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Distributions to investors from such tax-deferred arrangements may be taxed when received. Also note that 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. Actual after tax returns depend on an investor&rsquo;s&nbsp;&nbsp;tax situation and may differ from those shown.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Year-by-Year Total Return For Class A Shares As of December 31st</b></p> <div style="display: none;"> ~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact amidex_C000012356Member ~ </div> -0.3956 0.5606 0.1481 0.1418 0.0996 0.2595 -0.4102 0.6104 0.1506 -0.2922 <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Highest/Lowest quarterly results during this time period were:</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; background-color: white"> <td style="width: 22%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt; background-color: white; text-align: justify">HIGHEST A Class</td> <td style="width: 78%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt; background-color: white; text-align: justify">39.56% (quarter ended June 30, 2003) </td></tr> <tr style="vertical-align: top; background-color: gainsboro"> <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt; background-color: gainsboro; text-align: justify">LOWEST A Class</td> <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt; background-color: gainsboro; text-align: justify">-27.89% (quarter ended December 31, 2008) </td></tr> </table> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">The bar chart above does not reflect any applicable sales charges which would reduce returns. The AMIDEX35<font style="font-size: 70%; vertical-align: text-top">TM</font> Israel Mutual Fund's year-to-date return as of the most recent calendar quarter, which ended June 30, 2012, for the Class A Shares was -11.66%.</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">AVERAGE ANNUAL TOTAL RETURNS</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the Period Ending 12/31/2011</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: left">(Results do not reflect taxes and do not include a sales charge; if a sales charge were included, results would be lower.)</p> <div style="display: none;"> ~ http://xbrl.sec.gov/rr/role/PerformanceTableData row period compact * row primary compact * column dei_DocumentInformationDocumentAxis compact amidex_classacMember column dei_LegalEntityAxis compact amidex_S000004489Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * ~</div> -0.3311 -0.0164 0.0227 1999-11-18 -0.3311 -0.0168 0.0225 -0.2152 -0.0141 0.0195 -0.2970 -0.0126 0.0210 2000-05-19 -0.0501 -0.0176 0.0423 AMDAX AMDCX If you are a participant in a qualified employee retirement benefit plan with at least 100 eligible employees, you may purchase Class A shares without any sales charges. However, if you redeem your shares within eighteen months of purchase, you will be charged a fee of 1.00% of the redemption proceeds. 0.0129 The Fund will invest at least 95% of its net assets in the common stocks of the companies comprising the AMIDEX35 Index (the "Index"), in approximately the same percentages as those companies are included in the Index or until the Fund's net assets reach $25 million, the Adviser may invest Fund assets in a representative sample of Index securities and other permissible securities. As is the case with most investments, you may lose money by investing in the Fund. DIVERSIFICATION RISK - The Fund is a "non-diversified" Fund because it primarily invests in the companies that are included in the AMIDEX35 Index. The AMIDEX35 Index is currently comprised of 35 companies, and some of these companies represent a large percentage of the Index. This may cause the performance of a fund to be dependent upon the performance of one or more selected companies, which may increase the volatility of the fund. As of August 31, 2011, eight companies each individually comprise more than 5% of the Index and together made up 61.22% of the Index. Investing a larger percentage of the Fund's assets in a relatively small number of companies can be riskier than investing in a broader variety of securities because poor performance by an individual company held by the Fund will have a larger negative impact on the Fund due to the Fund's lack of diversification. The bar chart and table show how the Fund has performed and how its performance has varied from year to year. The bar chart gives some indication of risk by showing changes in the Fund's yearly performance to demonstrate that the Fund's value varied at different times. 1-888-876-3566 www.amidex.com Of course, past performance (before and after taxes) does not indicate how the Fund will perform in the future. The bar chart above does not reflect any applicable sales charges which would reduce returns. year-to-date return as of the most recent calendar quarter 2012-06-30 -0.1166 HIGHEST A Class 2003-06-30 0.3956 LOWEST A Class 2008-12-31 -0.2789 The Fund's after-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Also note that 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. Investments in Class C shares are not subject to an initial sales charge; however, a contingent deferred sales charge of 1% is imposed in the event of certain redemption transactions within thirteen months following such investments. If you are a participant in a qualified employee retirement benefit plan with at least 100 eligible employees, you may purchase Class A shares without any sales charges. However, if you redeem your shares within eighteen months of purchase, you will be charged a fee of 1.00% of the redemption proceeds. Class A shares commenced investment operations on November 19, 1999. Class C shares commenced investment operations on May 19, 2000. EX-101.SCH 3 amidex-20120930.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT EX-101.DEF 4 amidex-20120930_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 5 amidex-20120930_lab.xml XBRL TAXONOMY EXTENSION LABELS LINKBASE Class A shares and Class C shares AMIDEX35 Israel Mutual Fund - Class No-Load [Member] Class No-Load Share Class [Axis] Performance Measure [Axis] Prospectus [Table] All Classes Average Annual Return, Column Name Series [Axis] All Series All Prospectus Prospectus [Axis] Creation Date Effective Date Period End Date Trading Symbol Expense Example, 1 YEAR Expense Example, No Redemption, 1 YEAR Expense Example, 3 YEARS Expense Example, No Redemption, 3 YEARS Expense Example, 5 YEARS Expense Example, No Redemption, 5 YEARS Expense Example, 10 YEARS Expense Example, No Redemption, 10 YEARS 1 Year 1 Year 3 Years 3 Years 5 Years 5 Years 10 Years 10 Years CIK Registrant Name Document Type Amendment Am.Description Prospectus Date Amidex35 Israel Mutual Fund Class No-Load Class A Class C Risk/Return: Risk/Return Investment objective: Investment objective Secondary objectives Fees and expenses of the fund: Fees and expenses of the fund, narrative Shareholder fees, caption Shareholder fees, table MAXIMUM SALES CHARGE (LOAD) IMPOSED ON PURCHASES (As a percentage of offering price) Maximum Cumulative Sales Charge / Other Maximum Sales Charge Imposed on Purchases (as a percentage of offering price) MAXIMUM DEFERRED SALES CHARGE (LOAD) (As a percentage of redemption proceeds) Maximum deferred sales charge (as a percentage of the amount redeemed) Maximum sales charge (load) imposed on reinvested dividends REDEMPTION FEES (as a percentage of amount redeemed for shares held less than 365 calendar days) REDEMPTIONage of amount redeemed) REDEMPTIONrcentage of amount redeemed) REDEMPTION FEES (As a percentage of amount redeemed) EXCHANGE FEES Exchange Fee Maximum Account Fee (as a percentage of net assets) Maximum annual account fee Other Fees (as a percentage of net assets) Annual fund operating expenses, heading Annual fund operating expenses, table MANAGEMENT FEES SERVICE AND DISTRIBUTION (12b-1) FEES Distribution or similar (non 12b-1) Fees (as a percentage of net assets) Other Expenses, Component 1 (as a percentage of net assets) Other Expenses, Component 2 (as a percentage of net assets) Other Expenses, Component 3 (as a percentage of net assets) OTHER EXPENSES ACQUIRED FUND FEES AND EXPENSES TOTAL ANNUAL FUND OPERATING EXPENSES Fee Waiver or Reimbursement (as a percentage of net assets) Net Expenses (as a percentage of net assets) Portfolio turnover, heading Portfolio turnover, narrative Portfolio Turnover Rate Expense Footnotes Deferred Charges, Narrative Range of Exchange Fees, Narrative Expense Breakpoint Discounts Expense Breakpoint, Minimum Investment Required Expense Exchange Traded Fund Commissions Expenses Represent Both Master and Feeder Expenses Explanation of Nonrecurring Account Fee Other Expenses, New Fund, Based on Estimates Acquired Fund Fees and Expenses, Based on Estimates Expenses Other Expenses Had Extraordinary Expenses Been Included Expenses Restated to Reflect Current Expenses Not Correlated to Ratio Due to Acquired Fund Fees Example, heading Expense Example, with Redemption, heading Expense Example, Narrative Expense Example, with Redemption, Caption Expense Example, with Redemption, table Expense Example, Column Name Expense Example, No Redemption, Narrative Expense Example, No Redemption, Caption Expense Example, No Redemption, table Expense Example, No Redemption, Column Name Expense Example Footnotes Expense Example Closing Strategy, Heading Strategy, Narrative Portfolio Concentration Risk, Heading Risk, Narrative Risk Footnotes Risk Closing May Lose Money Date Of Termination Nondiversified Money Market Fund Not Insured Depository Institution Risk Caption Risk Column Name Risk Bar Chart and Performance Table, Heading Performance, Narrative Performance, Information Illustrates Variability of Returns Performance, One Year or Less Performance, Additional Market Index Performance, Availability by Phone Performance, Availability at Web Site Address Performance, Past Does Not Indicate Future Bar Chart, Heading Bar Chart, Narrative Bar Chart, Does Not Reflect Sales Loads Bar Chart Annual Return, Caption Annual Return, Inception Date 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Bar Chart, Footnotes Bar Chart, Closing Bar Chart, Reason Selected Class Different from Immediately Preceding Period Bar Chart, Returns for Class Not Offered in Prospectus Year to Date Return, Label Year to Date Return, Date Year to Date Return Highest Quarterly Return, Label Highest Quarterly Return Date Highest Quarterly Return Lowest Quarterly Return, Label Lowest Quarterly Return Date Lowest Quarterly Return Performance Table: Performance Table Narrative Average Annual Return Caption Performance Table 1 Year 5 Years 10 Years Since Inception Inception Date Before taxes - Return After Taxes on Distributions - Return After Taxes on Distributions and Sale of Fund Shares Market Index Performance AMIDEX35 Israel Mutual Fund - Class No-Load AMIDEX35 Israel Mutual Fund - Class A shares and Class C shares MSCI World Index (reflects no deductions for fees, expenses or taxes) MSCI World Index Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period Performance Table Footnotes Performance Table Closing Performance Table Does Reflect Sales Loads Performance Table Market Index Changed Index No Deduction for Fees, Expenses, Taxes Performance Table Uses Highest Federal Rate Performance Table Not Relevant to Tax Deferred One Class of After-Tax Shown Performance Table Explains why after Tax Higher Money Market, Seven Day Yield Caption Money Market, Seven Day Yield Column Name 7-Day Yield Phone 7-Day Yield 7-Day Tax Equivalent Yield Thirty 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AMIDEX35 Israel Mutual Fund - Class No-Load

FUND SUMMARY

Investment Objective

The Fund’s investment objective is long-term growth of capital.

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.

SHAREHOLDER FEES: (Fees paid directly from your investment)

Shareholder Fees
Class No-Load
Amidex35 Israel Mutual Fund
MAXIMUM SALES CHARGE (LOAD) IMPOSED ON PURCHASES (As a percentage of offering price) none
MAXIMUM DEFERRED SALES CHARGE (LOAD) (As a percentage of redemption proceeds) none
REDEMPTION FEES (as a percentage of amount redeemed for shares held less than 365 calendar days) 2.00%
EXCHANGE FEES none

ANNUAL FUND OPERATING EXPENSES: (Expenses that are deducted from Fund assets)

Annual Fund Operating Expenses
Class No-Load
Amidex35 Israel Mutual Fund
MANAGEMENT FEES 0.80%
SERVICE AND DISTRIBUTION (12b-1) FEES 0.25%
OTHER EXPENSES 1.97%
TOTAL ANNUAL FUND OPERATING EXPENSES [1] 3.02%
[1] The Total Annual Fund Operating Expenses in this fee table will not correlate to the expense ratio in the Fund's financial statements because the financial statements include only direct operating expenses incurred by the Fund, not the indirect costs of investing in Underlying Funds.

EXAMPLE: THIS EXAMPLE IS INTENDED TO HELP YOU COMPARE THE COSTS OF INVESTING IN THE FUND WITH THE COSTS 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 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 (USD $)
1 Year
3 Years
5 Years
10 Years
AMIDEX35 Israel Mutual Fund - Class No-Load Amidex35 Israel Mutual Fund Class No-Load
509 933 1,587 3,337

You would pay the following expenses if you did not redeem your shares:

Expense Example, No Redemption (USD $)
1 Year
3 Years
5 Years
10 Years
AMIDEX35 Israel Mutual Fund - Class No-Load Amidex35 Israel Mutual Fund Class No-Load
305 933 1,587 3,337

If you hold your shares for less than 365 days, a fee of 2.00% of the net amount redeemed of your Fund shares will be charged to you as an early redemption fee.

 

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 1.29% of the average value of its portfolio.

Principal Investment Strategies of the Fund.

The Fund will invest at least 95% of its net assets in the common stocks of the companies comprising the AMIDEX35TM Index (the “Index”), in approximately the same percentages as those companies are included in the Index or until the Fund’s net assets reach $25 million, the Adviser may invest Fund assets in a representative sample of Index securities and other permissible securities. The AMIDEX35TM Index is an unmanaged index consisting of the 35 largest publicly traded Israeli companies, as measured by market capitalization. The Adviser, Index Investments, LLC is responsible for calculating and maintaining the Index.

Principal Risks of Investing in the Fund.

GENERAL RISK - As is the case with most investments, you may lose money by investing in the Fund. The Fund’s share prices will fluctuate each day, depending on the changing value of the securities making up the Fund’s portfolio. On any given day, your shares may be worth less than what you paid for them.

 

STOCK RISK - The Fund invests in the stocks of companies included in the AMIDEX35TM Index. The AMIDEX35TM Index is an unmanaged index consisting of the 35 largest publicly traded Israeli companies, as measured by market capitalization. The Adviser, Index Investments, LLC is responsible for calculating and maintaining the Index.  A company's stock that is included in the Index may fall because of problems with the company or for no readily apparent reason. Further, the stock market may suffer a general decline resulting from changing economic or political conditions, or from a lack of investor confidence. In the past, stocks and the stock market have recovered, but some stock market slumps have lasted for months and even years.

 

DIVERSIFICATION RISK - The Fund is a "non-diversified" Fund because it primarily invests in the companies that are included in the AMIDEX35TM Index. The AMIDEX35TM Index is currently comprised of 35 companies, and some of these companies represent a large percentage of the Index.  This may cause the performance of a fund to be dependent upon the performance of one or more selected companies, which may increase the volatility of the fund. As of August 31, 2012, four companies each individually comprise more than 5% of the Index and together made up 44.16% of the Index.  Investing a larger percentage of the Fund's assets in a relatively small number of companies can be riskier than investing in a broader variety of securities because poor performance by an individual company held by the Fund will have a larger negative impact on the Fund due to the Fund's lack of diversification.

 

INDEX RISK - The Fund invests almost exclusively in Index companies. Also, once the Fund invests in Index companies, it stays invested in those companies for as long as they remain in the Index. As a result, the Fund does not predict which stocks will outperform or under-perform, the market. If the Index stocks decrease in value, the Fund decreases in value. Also, some of the companies in the Index may not have a vigorous secondary trading market. As a result, the Fund could experience difficulties in timely buying or selling of these securities, which could have a negative impact on the Fund.

 

PORTFOLIO TURNOVER RISK - The Index is adjusted to add or delete companies once per year. As companies leave and enter the Index, the Fund's portfolio will be adjusted to match the current Index composition. This practice can result in the realization of capital gains or losses and can have adverse tax consequences for you as an investor.  Because the Fund will buy and sell securities as needed to maintain its correlation to the Index, portfolio turnover in the Fund may be substantial.

 

SECTOR RISK - The AMIDEX35TM Israel Mutual Fund includes companies that are identified as Israeli companies, either because they trade on the Tel Aviv Stock Exchange, or they trade on U.S. Exchanges and meet Index rules for inclusion as Israeli companies. Investing in a single market sector is riskier that investing a variety of market sectors.

 

FOREIGN SECURITIES RISK - Investments in foreign securities involve greater risks compared to domestic investments for the following reasons:

 

i. Foreign companies are not subject to the regulatory requirements of U.S. companies, so there may be less publicly available information about foreign issuers than U.S. companies.
ii. Foreign companies generally are not subject to uniform accounting, auditing and financial reporting standards.
iii. Dividends and interest on foreign securities may be subject to foreign withholding taxes. Such taxes may reduce the net return to Fund shareholders.
iv. Foreign securities are often denominated in a currency other than the U.S. dollar. Accordingly, the Fund will be subject to the risks associated with fluctuations in currency values. Although the Fund will only invest in foreign issuers that are domiciled in nations considered to have stable and friendly governments, there is the possibility of expropriation, confiscation, taxation, currency blockage or political or social instability which could negatively affect the Fund.
v. The Fund may not be able to participate in rights and offerings that are not registered for sale to a U.S. investor.
vi. Transactions in foreign securities may involve higher costs and typically take longer to settle than in the U.S., which may make it more difficult for the Fund to liquidate positions, thereby causing delays in the Fund’s receipt of proceeds and a concomitant loss of potential dividend and interest income or the incurring of interest costs on debt to cover the period required until the receipt of the proceeds from these same securities.

 

Because the AMIDEX35TM Israel Mutual Fund invests in securities of Israeli issuers, the Fund may be exposed to special risks and considerations. There may be less information concerning Israeli securities available to the public than in the U.S. There is also potential difficulty in obtaining or enforcing a court judgment, and unique characteristics of Israeli securities and markets may have a negative impact on the Fund. Any major hostilities involving Israel, or the interruption or curtailment of trade between Israel and its present trading partners, could have a negative impact on the Fund. Shares and dividends of Israeli companies are often New Israeli Shekel ("NIS") denominated. Changes in the relationship of the NIS to the dollar and other currencies could have a negative impact on the Fund. The government of Israel may change the way in which Israeli companies are taxed, or may impose taxes on foreign investment. Such actions could have an impact on the overall market for Israeli securities and on the Fund.

Performance Information

The bar chart and table show how the Fund has performed and how its performance has varied from year to year. The bar chart gives some indication of risk by showing changes in the Fund’s yearly performance to demonstrate that the Fund’s value varied at different times. The table below compares the Fund’s performance over time to that of the MSCI World Index, a widely recognized, unmanaged index. Of course, past performance (before and after taxes) does not indicate how the Fund will perform in the future.

Year-by-Year Total Return as of Dec. 31st

~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact amidex_C000012357Member ~

Highest/Lowest quarterly results during this time period were:

 

HIGHEST 39.46% (quarter ended June 30, 2003)
LOWEST -27.77% (quarter ended December 31, 2008)

 

The year-to-date return as of the most recent calendar quarter, which ended June 30, 2012, was -11.59%.

AVERAGE ANNUAL TOTAL RETURNS FOR CLASS NO LOAD SHARES

For the Period Ending 12/31/2011

Average Annual Total Returns Amidex35 Israel Mutual Fund
1 Year
5 Years
10 Years
Class No-Load
(29.15%) (0.40%) 2.93%
Class No-Load - Return After Taxes on Distributions
(29.15%) (0.42%) 2.92%
Class No-Load - Return After Taxes on Distributions and Sale of Fund Shares
(18.95%) (0.35%) 2.53%
Class No-Load MSCI World Index (reflects no deductions for fees, expenses or taxes)
(5.01%) (1.76%) 4.23%

For current performance information, call 1-888-876-3566 or visit www.amidex.com.

 

‘‘MSCI’’ and the ‘‘MSCI World Index’’ are registered service marks of MSCI Inc., which does not sponsor and is in no way affiliated with the Fund.

 

The table shows the impact of taxes on the Fund’s returns. The Fund’s after-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Distributions will generally be taxed to investors as ordinary income or capital gains unless the investor holds Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Distributions to investors from such tax-deferred arrangements may be taxed when received. Also note that 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. Actual after tax returns depend on an investor’s  tax situation and may differ from those shown.

AMIDEX35 Israel Mutual Fund - Class A shares and Class C shares

FUND SUMMARY

Investment Objective

The Fund’s investment objective is long-term growth of capital.

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.

SHAREHOLDER FEES: (Fees paid directly from your investment)

Shareholder Fees Class A shares and Class C shares Amidex35 Israel Mutual Fund (USD $)
Class A
Class C
MAXIMUM SALES CHARGE (LOAD) IMPOSED ON PURCHASES (As a percentage of offering price) 5.50% none
MAXIMUM DEFERRED SALES CHARGE (LOAD) (As a percentage of redemption proceeds) none 1.00% [1]
REDEMPTION FEES (As a percentage of amount redeemed) [2] none none
[1] Investments in Class C shares are not subject to an initial sales charge; however, a contingent deferred sales charge of 1% is imposed in the event of certain redemption transactions within thirteen months following such investments.
[2] If you are a participant in a qualified employee retirement benefit plan with at least 100 eligible employees, you may purchase Class A shares without any sales charges. However, if you redeem your shares within eighteen months of purchase, you will be charged a fee of 1.00% of the redemption proceeds.

ANNUAL FUND OPERATING EXPENSES: (Expenses that are deducted from Fund assets)

Annual Fund Operating Expenses Class A shares and Class C shares Amidex35 Israel Mutual Fund
Class A
Class C
MANAGEMENT FEES 0.80% [1] 0.80% [2]
SERVICE AND DISTRIBUTION (12b-1) FEES 0.25% [1] 1.00% [2]
OTHER EXPENSES 1.97% [1] 1.97% [2]
TOTAL ANNUAL FUND OPERATING EXPENSES 3.02% [1] 3.77% [2]
[1] Class A shares commenced investment operations on November 19, 1999.
[2] Class C shares commenced investment operations on May 19, 2000.

EXAMPLE: THIS EXAMPLE IS INTENDED TO HELP YOU COMPARE THE COSTS OF INVESTING IN THE FUND WITH THE COSTS 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 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 AMIDEX35 Israel Mutual Fund - Class A shares and Class C shares Amidex35 Israel Mutual Fund (USD $)
1 Year
3 Years
5 Years
10 Years
Class A
838 1,432 2,049 3,703
Class C
481 1,152 1,944 4,010

You would pay the following expenses if you did not redeem your shares:

Expense Example, No Redemption AMIDEX35 Israel Mutual Fund - Class A shares and Class C shares Amidex35 Israel Mutual Fund (USD $)
1 Year
3 Years
5 Years
10 Years
Class A
838 1,432 2,049 3,703
Class C
379 1,152 1,944 4,010

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 1.29% of the average value of its portfolio.

Principal Investment Strategies of the Fund.

The Fund will invest at least 95% of its net assets in the common stocks of the companies comprising the AMIDEX35TM Index (the “Index”), in approximately the same percentages as those companies are included in the Index or until the Fund’s net assets reach $25 million, the Adviser may invest Fund assets in a representative sample of Index securities and other permissible securities. The AMIDEX35TM Index is an unmanaged index consisting of the 35 largest publicly traded Israeli companies, as measured by market capitalization. The Adviser, Index Investments, LLC is responsible for calculating and maintaining the Index.

Principal Risks of Investing in the Fund.

GENERAL RISK - As is the case with most investments, you may lose money by investing in the Fund. The Fund’s share prices will fluctuate each day, depending on the changing value of the securities making up the Fund’s portfolio. On any given day, your shares may be worth less than what you paid for them.

 

STOCK RISK - The Fund invests in the stocks of companies included in the AMIDEX35TM Index. The AMIDEX35TM Index is an unmanaged index consisting of the 35 largest publicly traded Israeli companies, as measured by market capitalization. The Adviser, Index Investments, LLC is responsible for calculating and maintaining the Index.  A company's stock that is included in the Index may fall because of problems with the company or for no readily apparent reason. Further, the stock market may suffer a general decline resulting from changing economic or political conditions, or from a lack of investor confidence. In the past, stocks and the stock market have recovered, but some stock market slumps have lasted for months and even years.

 

DIVERSIFICATION RISK - The Fund is a "non-diversified" Fund because it primarily invests in the companies that are included in the AMIDEX35TM Index. The AMIDEX35TM Index is currently comprised of 35 companies, and some of these companies represent a large percentage of the Index.  This may cause the performance of a fund to be dependent upon the performance of one or more selected companies, which may increase the volatility of the fund. As of August 31, 2012, four companies each individually comprise more than 5% of the Index and together made up 44.16% of the Index.  Investing a larger percentage of the Fund's assets in a relatively small number of companies can be riskier than investing in a broader variety of securities because poor performance by an individual company held by the Fund will have a larger negative impact on the Fund due to the Fund's lack of diversification.

 

INDEX RISK - The Fund invests almost exclusively in Index companies. Also, once the Fund invests in Index companies, it stays invested in those companies for as long as they remain in the Index. As a result, the Fund does not predict which stocks will outperform or under-perform, the market. If the Index stocks decrease in value, the Fund decreases in value. Also, some of the companies in the Index may not have a vigorous secondary trading market. As a result, the Fund could experience difficulties in timely buying or selling of these securities, which could have a negative impact on the Fund.

 

PORTFOLIO TURNOVER RISK - The Index is adjusted to add or delete companies once per year. As companies leave and enter the Index, the Fund's portfolio will be adjusted to match the current Index composition. This practice can result in the realization of capital gains or losses and can have adverse tax consequences for you as an investor.  Because the Fund will buy and sell securities as needed to maintain its correlation to the Index, portfolio turnover in the Fund may be substantial.

 

SECTOR RISK - The AMIDEX35TM Israel Mutual Fund includes companies that are identified as Israeli companies, either because they trade on the Tel Aviv Stock Exchange, or they trade on U.S. Exchanges and meet Index rules for inclusion as Israeli companies. Investing in a single market sector is riskier that investing a variety of market sectors.

 

FOREIGN SECURITIES RISK - Investments in foreign securities involve greater risks compared to domestic investments for the following reasons:

 

i. Foreign companies are not subject to the regulatory requirements of U.S. companies, so there may be less publicly available information about foreign issuers than U.S. companies.
ii. Foreign companies generally are not subject to uniform accounting, auditing and financial reporting standards.
iii. Dividends and interest on foreign securities may be subject to foreign withholding taxes. Such taxes may reduce the net return to Fund shareholders.
iv. Foreign securities are often denominated in a currency other than the U.S. dollar. Accordingly, the Fund will be subject to the risks associated with fluctuations in currency values. Although the Fund will only invest in foreign issuers that are domiciled in nations considered to have stable and friendly governments, there is the possibility of expropriation, confiscation, taxation, currency blockage or political or social instability which could negatively affect the Fund.
v. The Fund may not be able to participate in rights and offerings that are not registered for sale to a U.S. investor.
vi. Transactions in foreign securities may involve higher costs and typically take longer to settle than in the U.S., which may make it more difficult for the Fund to liquidate positions, thereby causing delays in the Fund’s receipt of proceeds and a concomitant loss of potential dividend and interest income or the incurring of interest costs on debt to cover the period required until the receipt of the proceeds from these same securities.

 

Because the AMIDEX35TM Israel Mutual Fund invests in securities of Israeli issuers, the Fund may be exposed to special risks and considerations. There may be less information concerning Israeli securities available to the public than in the U.S. There is also potential difficulty in obtaining or enforcing a court judgment, and unique characteristics of Israeli securities and markets may have a negative impact on the Fund. Any major hostilities involving Israel, or the interruption or curtailment of trade between Israel and its present trading partners, could have a negative impact on the Fund. Shares and dividends of Israeli companies are often New Israeli Shekel ("NIS") denominated. Changes in the relationship of the NIS to the dollar and other currencies could have a negative impact on the Fund. The government of Israel may change the way in which Israeli companies are taxed, or may impose taxes on foreign investment. Such actions could have an impact on the overall market for Israeli securities and on the Fund.

Performance Information

The bar chart and table show how the Fund has performed and how its performance has varied from year to year. The bar chart gives some indication of risk by showing changes in the Fund’s yearly performance to demonstrate that the Fund’s value varied at different times. The table below compares the Fund’s performance over time to that of the MSCI World Index, a widely recognized, unmanaged index. Of course, past performance (before and after taxes) does not indicate how the Fund will perform in the future.

Year-by-Year Total Return For Class A Shares As of December 31st

~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact amidex_C000012356Member ~

Highest/Lowest quarterly results during this time period were:

 

HIGHEST A Class 39.56% (quarter ended June 30, 2003)
LOWEST A Class -27.89% (quarter ended December 31, 2008)

 

The bar chart above does not reflect any applicable sales charges which would reduce returns. The AMIDEX35TM Israel Mutual Fund's year-to-date return as of the most recent calendar quarter, which ended June 30, 2012, for the Class A Shares was -11.66%.

AVERAGE ANNUAL TOTAL RETURNS

For the Period Ending 12/31/2011

 

(Results do not reflect taxes and do not include a sales charge; if a sales charge were included, results would be lower.)

Average Annual Total Returns Class A shares and Class C shares Amidex35 Israel Mutual Fund
1 Year
5 Years
10 Years
Inception Date
Class A
(33.11%) (1.64%) 2.27% Nov. 18, 1999
Class A - Return After Taxes on Distributions
(33.11%) (1.68%) 2.25%  
Class A - Return After Taxes on Distributions and Sale of Fund Shares
(21.52%) (1.41%) 1.95%  
Class C
(29.70%) (1.26%) 2.10% May 19, 2000
MSCI World Index
(5.01%) (1.76%) 4.23%  

For current performance information, call 1-888-876-3566 or visit www.amidex.com.

 

‘‘MSCI’’ and the ‘‘MSCI World Index’’ are registered service marks of MSCI Inc., which does not sponsor and is in no way affiliated with the Fund.

 

The table shows the impact of taxes on the Fund’s returns. The Fund’s after-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Distributions will generally be taxed to investors as ordinary income or capital gains unless the investor holds Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Distributions to investors from such tax-deferred arrangements may be taxed when received. Also note that 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. Actual after tax returns depend on an investor’s  tax situation and may differ from those shown.

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