*Effective January 1, 2008, the name of the Aston/TAMRO Large Cap Value Fund was changed to the Aston/TAMRO All Cap Fund. Please see the prospectus supplement for addtional information regarding the transition.
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Investment Strategy
The Aston/TAMRO All Cap Fund a bottom-up approach to selecting securities for investment. The portfolio manager emphasizes securities that the manager believes have long-term appreciation potential, but are undervalued as a result of mis-pricing due to short-term difficulties of the company or industry sector. The investment process involves both qualitative and quantitative evaluation. In selecting securities, the portfolio manager looks for the following criteria:
- attractive company fundamentals
- differentiated product or service offering
- capable and motivated leadership
- financial stability
- attractive stock valuations
- evidence of a sustainable competitive advantage
The Fund invests in securities that fall into three categories:
- Leaders (best of class)
- Laggards (companies undergoing a restructuring)
- Innovators (dedication to introducing new products or services)
To manage risk, the portfolio manager limits position sizes, diversifies sectors relative to the benchmark,
and adheres to a strong sell discipline.
Objective
The Fund seeks to provide long-term capital appreciation.
| Fund Overview |
| Inception Date |
11/30/2000 |
| Ticker |
ATLVX |
| Cusip |
00078H224 |
| Load |
None |
| Fund Statistics (as of
3/31/2008) |
|
|
$12,246,432.00 |
| Expense Ratio |
1.21% |
| Minimum Investment |
$2,500 |
| Alpha (3 yr.) |
-1.32 |
| Beta (3 yr.) |
0.92 |
| R-Squared (3 yr.) |
0.90 |
| Standard Dev (3 yr.) |
8.69 |
| Sharpe Ratio (3 yr.) |
0.01 |
|
|
| Sector Breakdown (as of
3/31/2008) |
| Information Technology |
19.60% |
| Consumer Staples |
15.62% |
| Financials |
14.08% |
| Consumer Discretionary |
10.27% |
| Industrials |
10.01% |
| Energy |
9.64% |
| Healthcare |
7.52% |
| Materials |
7.06% |
| Utilities |
2.23% |
| Telecommunications |
2.20% |
| Cash Equivalents & Other |
1.76% |
Past performance does not guarantee future results. Investment return and principal value of mutual funds will vary with market conditions, so that shares, when redeemed, may be worth more or less than their original cost.
Expense Ratio. A fund's cost of doing business, expressed as a percentage of its assets and disclosed in a prospectus. Turnover. The number of shares traded for a period as a percentage of the total shares in a portfolio or of an exchange.
Alpha. Measures the difference between a fund’s actual returns and its expected performance, given its level of risk.
Beta. The measure of risk which shows a fund’s volatility relative to an index.
R-Squared. The percentage of a fund’s movement that can be explained by movements in its benchmark index.
Standard Deviation. A statistical measure of the historical volatility of a mutual fund or portfolio, usually computed using 36 monthly returns. More generally, a measure of the extent to which numbers are spread around their average.
Sharpe Ratio. A risk-adjusted measure used to determine reward per unit of risk.