Investment Style
The portfolio managers define a mid-cap company as companies with a market capitalization, at the time of acquisition, within the range of market capitalizations of companies constituting the Russell Midcap Value Index.
Investment Strategy
Under normal circumstances, the Aston/Cardinal Mid Cap Value Fund invests at least 80% of its assets in common stocks and other equity securities of mid-cap companies. The portfolio managers define a mid-cap company as companies with a market capitalization, at the time of acquisition, within the range of market capitalizations of companies constituting the Russell MidCap® Value Index.
The portfolio managers use a value investment strategy based on proprietary fundamental research. Value investing involves buying stocks that are out of favor or undervalued relative to their peers. The portfolio managers emphasize companies with the ability to generate free cash flow and to redeploy such cash to enhance value. The portfolio managers also look for the following characteristics:
• Stable and predictable business model
• Motivated and competent management
• Unduly depressed valuation
• Catalyst for positive market reevaluation
To manage risk, the portfolio managers adhere to a strong buy, hold and sell discipline. The Fund's annual portfolio turnover rate is not expected to exceed 100%.
Note: Small and Mid-cap stocks are generally riskier than largecap stocks due to the greater volatility and less liquidity.
| Fund Overview |
| Inception Date |
11/2/2007 |
| Ticker |
ACDMX |
| Cusip |
00080Y827 |
| Load |
None |
| Fund Statistics (as of
3/31/2008) |
|
|
$1,077,271.00 |
| Expense Ratio |
1.40% |
|
|
| Sector Breakdown (as of
3/31/2008) |
| Information Technology |
17.55% |
| Financials |
16.23% |
| Healthcare |
13.74% |
| Consumer Discretionary |
10.69% |
| Industrials |
10.66% |
| Materials |
9.93% |
| Energy |
9.03% |
| Cash Equivalents & Other |
5.15% |
| Telecommunications |
4.78% |
| Telecommunication Services |
2.25% |
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.