UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933 | ¨ | |||||
Pre-Effective Amendment No. | ¨ | |||||
Post-Effective Amendment No. 278 | x |
and/or
REGISTRATION STATEMENT
UNDER
THE INVESTMENT COMPANY ACT OF 1940 | x |
Unified Series Trust
(Exact Name of Registrant as Specified In Charter)
2960 North Meridian Street, Suite 300
Indianapolis, Indiana 46208
(Address of Principal Executive Offices) (Zip Code)
Registrants Telephone Number, Including Area Code: (317) 917-7000
John C. Swhear
Interim President
2960 N. Meridian St., Suite 300
Indianapolis, Indiana 46208
(Name and Address of Agent for Service)
Copies to:
Dee Anne Sjögren, Esq.
Thompson Coburn LLP
One US Bank Plaza
St. Louis, MO 63101
(314) 552-6295
It is proposed that this filing will become effective:
x | immediately upon filing pursuant to paragraph (b) |
¨ | on (date) pursuant to paragraph (b) |
¨ | 60 days after filing pursuant to paragraph (a)(1) |
¨ | on (date) pursuant to paragraph (a)(1) |
¨ | 75 days after filing pursuant to paragraph (a)(2) |
¨ | on (date) pursuant to paragraph (a)(2) of rule 485 |
If appropriate check this box:
¨ | this post-effective amendment designates a new effective date for a previously filed post-effective amendment |
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and it has duly caused this Post-Effective Amendment No. 278 to its Registration Statement on Form N-1A to be signed on its behalf by the undersigned, thereto duly authorized, in the City of Indianapolis and the State of Indiana on April 16, 2013.
UNIFIED SERIES TRUST | ||
By: | /s/ John C. Swhear | |
John C. Swhear, Interim President |
Attest:
By: | /s/ Robert W. Silva **** | |
Robert W. Silva, Treasurer and Chief Financial Officer |
Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below by the following persons in the capacities and on the date indicated by the consent of all of Registrants trustees.
Signature |
Title |
Date | ||||
/s/ John C. Swhear John C. Swhear |
Interim President | April 16, 2013 | ||||
/s/ Robert W. Silva **** Robert W. Silva |
Treasurer and CFO | April 16, 2013 | ||||
/s/ Daniel Condon * Daniel Condon |
Trustee | April 16, 2013 | ||||
/s/ Gary E. Hippenstiel * Gary E. Hippenstiel |
Trustee | April 16, 2013 | ||||
/s/ Stephen Little * Stephen Little |
Trustee | April 16, 2013 | ||||
/s/ Ronald Tritschler * Ronald Tritschler |
Trustee | April 16, 2013 | ||||
/s/ Nancy V. Kelly ** Nancy V. Kelly |
Trustee | April 16, 2013 | ||||
/s/ Kenneth Grant *** Kenneth Grant |
Trustee | April 16, 2013 |
* /**/***/****/s/ Carol J. Highsmith
Carol J. Highsmith, Attorney in Fact
* | Signed pursuant to a Power of Attorney dated May 21, 2007 and filed with Registrants registration statement on Form N-1A on June 21, 2007 and incorporated herein by reference. |
** | Signed pursuant to a Power of Attorney dated December 12, 2007 and filed with Registrants registration statement on Form N-1A on December 17, 2007 and incorporated herein by reference. |
*** | Signed pursuant to a Power of Attorney dated June 19, 2008 and filed with Registrants registration statement on Form N-1A on July 3, 2008 and incorporated herein by reference. |
**** | Signed pursuant to a Power of Attorney dated June 24, 2011 and filed with Registrants registration statement on Form N-1A on June 24, 2011 and incorporated herein by reference. |
EXHIBIT INDEX
Exhibit |
Description | |
EX-101.ins | XBRL Instance Document | |
EX-101.sch | XBRL Taxonomy Extension Schema Document | |
EX-101.cal | XBRL Taxonomy Extension Calculation Linkbase Document | |
EX-101.lab | XBRL Taxonomy Extension Labels Linkbase | |
EX-101.pre | XBRL Taxonomy Extension Presentation Linkbase Document | |
EX-101.def | XBRL Taxonomy Extension Definition Linkbase |
Symons Small Cap Institutional Fund | ||||||||||||||||||||||||||||
SUMMARY SECTION SYMONS SMALL CAP INSTITUTIONAL FUND |
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Investment Objective | ||||||||||||||||||||||||||||
The investment objective of the Symons Small Cap Institutional Fund (the “Small Cap Fund”) is long-term 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 Small Cap Fund. | ||||||||||||||||||||||||||||
Shareholder Fees (fees paid directly from your investment) | ||||||||||||||||||||||||||||
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Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||||||||
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Expense Example: | ||||||||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Small Cap Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Small Cap 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. Only the 1 and 3 year numbers shown below reflect the adviser’s agreement to waive fees and/or reimburse Fund expenses. Although your actual costs may be higher or lower, based on these assumptions, your costs would be: | ||||||||||||||||||||||||||||
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Portfolio Turnover | ||||||||||||||||||||||||||||
The Small Cap Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the Example above, affect the Small Cap Fund’s performance. During the most recent fiscal year, the Small Cap Fund’s portfolio turnover rate was 55.87% of the average value of its portfolio. | ||||||||||||||||||||||||||||
Principal Investment Strategies | ||||||||||||||||||||||||||||
The Small Cap Fund seeks to achieve its objective by investing primarily in a diversified portfolio of small capitalization companies. The Small Cap Fund's investment adviser, Symons Capital Management, Inc., manages the Small Cap Fund using a "core" investment strategy, pursuant to which the Small Cap Fund will purchase small cap stocks at what the adviser believes are attractive prices, and that appear to have strong potential for capital appreciation over the long-term. The adviser typically allocates the Small Cap Fund's investments among a broad cross-section of market sectors and industries, so long as small cap stocks with attractive valuations are available for purchase in these sectors and industries. The sectors and industries presenting the best opportunities for investment vary over time. As a result, the Small Cap Fund's investments may, at times, tilt towards growth stocks with an emphasis on capital appreciation and, at other times, tilt towards value stocks with an emphasis on preservation of capital. The adviser utilizes market capitalization and daily trading volume screens to identify approximately 2,000 small cap companies that are possible candidates for investment by the Small Cap Fund. The adviser defines "small cap" companies as those with market capitalizations of $2 billion or less at the time of purchase. In addition, the adviser looks for an average daily trading volume that demonstrates a level of liquidity that is acceptable to the adviser. The adviser then evaluates a number of additional factors in order to initially reduce the universe to approximately 50-70 issuers that fit the adviser's basic investment criteria. The adviser performs a fundamental analysis of potential candidates to identify those small cap companies that the adviser believes present the best opportunities for investment by the Small Cap Fund. Pursuant to the adviser's core investment strategy, the Small Cap Fund purchases securities of small cap companies that the adviser believes have sustainable business models, over the long-term, and that are trading at attractive prices. The Small Cap Fund typically holds a diversified portfolio of approximately 45-70 stocks among a broad cross-section of market sectors and industries. However, there may be times when the Small Cap Fund may hold a large portion of its assets in any one sector at a given time. Under normal circumstances, the Small Cap Fund typically invests at least 80% of its net assets in equity securities of small capitalization companies. Equity securities in which the Small Cap Fund may invest include common stocks and common stock equivalents (such as rights, warrants and convertible securities), preferred stocks, shares of equity real estate investment trusts ("REITs"), and shares of other investment companies, including open-end and closed-end funds and exchange-traded funds ("ETFs") whose portfolios primarily consist of equity securities. The Small Cap Fund may invest in inverse and leveraged ETFs. Inverse ETFs seek to provide investment results that match a certain percentage of the inverse of the results of a specific index on a daily or monthly basis, while leveraged ETFs seek to multiply the return, or the inverse of the return, of the tracked index (e.g., twice the return). The Small Cap Fund also may invest in ETFs whose portfolios primarily consist of commodities. The Small Cap Fund may invest in equity securities of foreign issuers, directly or through American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs"). The Small Cap Fund may use options for purposes consistent with its investment objective, such as hedging or risk management. The Small Cap Fund may buy (hold) or write (sell) put and call options on assets, such as securities, currencies, financial commodities, and indices of debt and equity securities and enter into closing transactions with respect to such options to terminate an existing position. To the extent consistent with its obligation to invest under normal circumstances at least 80% of its net assets in equity securities of small cap companies, the Small Cap Fund may invest up to 20% of its net assets in securities other than small cap securities or it may invest in cash or money market mutual funds, investment grade, short-term money market instruments, including U.S. Government and agency securities, commercial paper, certificates of deposit, repurchase agreements and other cash equivalents. The Small Cap Fund also may continue to hold a portfolio security notwithstanding the fact that the issuer's market capitalization has subsequently increased above $2 billion. |
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Principal Risks | ||||||||||||||||||||||||||||
All investments involve risks, and the Small Cap Fund cannot guarantee that it will achieve its investment objective. An investment in the Small Cap Fund is not insured or guaranteed by any government agency. As with any mutual fund investment, the Small Cap Fund's returns and share price will fluctuate, and you may lose money by investing in the Small Cap Fund. Below are some of the specific risks of investing in the Small Cap Fund.
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Performance | ||||||||||||||||||||||||||||
The bar chart below shows how the Small Cap Fund’s investment results have varied from year to year. The table below shows how the Small Cap Fund’s average annual total returns compare over time to those of a broad-based securities market index. This information provides some indication of the risks of investing in the Small Cap Fund. Past performance of the Small Cap Fund is not necessarily an indication of how it will perform in the future. | ||||||||||||||||||||||||||||
YEAR-BY-YEAR TOTAL RETURNS AS OF DECEMBER 31ST | ||||||||||||||||||||||||||||
Best Quarter: 2nd Quarter, 2009, 31.01% Worst Quarter: 3rd Quarter, 2011, (16.16)% |
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AVERAGE ANNUAL TOTAL RETURNS (for the periods ended December 31, 2012) |
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After-tax returns are calculated using the historical highest individual federal income tax rates in effect as of December 31, 2012 and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Small Cap Fund shares through tax-deferred arrangements, such as 401(k) plans or IRAs. | ||||||||||||||||||||||||||||
Current performance of the Small Cap Fund may be lower or higher than the performance quoted above. Performance data current to the most recent month end may be obtained by calling (877)-679-6667, a toll-free number, or data current to the most recent quarter end may be accessed on the Small Cap Fund’s website at www.scm-funds.com. |