Investment Strategy
Under normal conditions, the Aston/River Road Small Cap Value Fund invests at least 80% of its assets in common stocks and other equity securities of small-cap companies that the portfolio managers believe are undervalued. The Fund considers companies that market capitalizations below $5 billion at the time of acquisition to be small cap. The Fund may also invest in mid-cap stocks, real estate investment trusts REITs , convertible securities, and foreign stocks. The portfolio managers employ a value-driven, bottom-up fundamental approach that seeks to identify the following characteristics:
- attractive valuation
- shareholder-oriented management
- financial strength
- attractive business model
- limited analyst coverage
To manage risk, the portfolio managers employ a strategy of broad diversification and a strict sell discipline.
Objective
The Fund seeks to provide long-term capital appreciation.
Note:
Small-cap stocks are generally riskier than large-cap stocks due to the greater volatility and less liquidity.
| Fund Overview |
| Inception Date |
6/28/2005 |
| Ticker |
ARSVX |
| Cusip |
00078H125 |
| Load |
None |
| Fund Statistics (as of
3/31/2008) |
|
|
$258,697,809.00 |
| Expense Ratio |
1.46% |
|
|
| Sector Breakdown (as of
3/31/2008) |
| Consumer Discretionary |
26.43% |
| Consumer Staples |
20.38% |
| Industrials |
16.76% |
| Financials |
10.77% |
| Energy |
9.25% |
| Information Technology |
4.88% |
| Cash Equivalents & Other |
4.56% |
| Utilities |
3.01% |
| Materials |
2.44% |
| Healthcare |
1.52% |
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.