Investment Strategy
Under normal conditions, the Fund invests at least 80% of its assets in common stocks and other equity securities of small- and mid-cap companies with market capitalizations of less than $6 billion at the time of acquisition that the Portfolio Managers believe are undervalued. Value investing involves buying stocks that are out of favor and/or undervalued in comparison to their peers or their prospects for growth. The Fund may also invest in common stock of companies with market capitalizations that exceed $6 billion, REITs, convertible securities, and foreign stocks. Using systematic and dynamic research, the Portfolio Managers narrow the field of small- and mid-cap companies into a more refined working universe. The Portfolio Managers then 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 diversification and a strict sell discipline.
Objective
The Aston/River Road Small-Mid Cap Fund seeks to provide long-term capital appreciation.
| Fund Overview |
| Inception Date |
6/28/2007 |
| Ticker |
ARIMX |
| Cusip |
00080Y884 |
| Load |
None |
| Fund Statistics (as of
3/31/2008) |
|
|
$72,148,411.00 |
| Expense Ratio |
1.26% |
|
|
| Sector Breakdown (as of
3/31/2008) |
| Consumer Discretionary |
23.75% |
| Industrials |
16.85% |
| Consumer Staples |
16.45% |
| Energy |
12.73% |
| Financials |
8.89% |
| Information Technology |
4.99% |
| Cash Equivalents & Other |
4.98% |
| Materials |
4.79% |
| Healthcare |
3.45% |
| Utilities |
3.11% |
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.