Queens Road Small Cap Value Fund
Investment Objectives
The Queens Road Small Cap Value Fund seeks to maximize risk adjusted long-term performance. The advisor strives to maintain a portfolio with the following characteristics:
- Broad Diversification by Sector and Industry
- Investment Style Consistency
- Low Turnover
- Below Average Expenses*
*Compared to average expenses of peer group as reported by major mutual fund rating databases
The Queens Road Small Cap Value Fund pursues its objective of long-term growth by following a value-oriented investment strategy in which investments are selected based on their potential for capital growth. Using a screening process to identify companies with a discounted P/E ratio and P/CF multiple, the Fund’s adviser attempts to select investment situations where stock prices are undervalued by the market. The Fund normally invests at least 80% of its assets in equity securities of Small-Cap U.S. companies with a market capitalization of no more than $2 billion.
Performance
13-Month non-annualized; 2Inception June 2002
All performance information reflects past performance, is presented on a total return basis and reflects the reinvestment of distributions. Past performance is no guarantee of future results. Current performance may be higher or lower than performance quoted. Returns as of the recent month-end may be obtained by calling 1-800-595-3088. The Funds' recent performance has been achieved during a period of high returns for small-cap stocks and it is not likely that this level of return will continue in the future. From inception to 12/31/2004 the fund's manager and its affiliates absorbed certain expenses of the fund and waived its management fee. Had the fund's manager not done this, returns would have been lower. The fund's manager and its affiliates do not intend to absorb any expenses or waive its management fee in the future. Investment return and principal value will fluctuate, so that shares may be worth more or less than their original cost when redeemed. There can be no assurance that the fund will meet any of its objectives. This material is not authorized for distribution unless preceded or accompanied by a current prospectus. The prospectus contains important information on the fund's investment objectives, risks, and charges and expenses. Please read the prospectus carefully before investing or sending money. Queens Road Small Cap Value Fund invests primarily in small-cap companies which may involve considerably more risk than investing in larger-cap stocks.
Also the fund is non-diversified which means it may invest a greater portion of its assets in the securities of one issurer than a diversified fund. Consequently, the fund may experience greater fluctuation in share price than if the fund was more widely diversified.
* Results are shown on a “Total Return” basis and assume reinvestment of all dividends and capital gain distributions. 'Inception' performance is cumulative performance since inception (not annualized) and is computed using a fund inception date of 7/1/2002.
Top 10 Holdings as of December 31, 2011
| RLI Corp. |
3.02% |
| New Jersey Resources Corp. |
2.24% |
| Tech Data Corp. |
2.21% |
| Sanderson Farms, Inc. |
2.00% |
| Cato Corp./The, Class A |
1.86% |
| Piedmont Natural Gas Co., Inc. |
1.84% |
| Owens & Minor, Inc. |
1.83% |
| South Jersey Industries, Inc. |
1.82% |
| Unifirst Corp. |
1.81% |
| Horace Mann Educators Corp. |
1.81% |
Portfolio Manager
Steve Scruggs, CFA
Director of Research & Senior Portfolio Manager
Queens Road Small Cap Value Fund QRSVX
Queens Road Value Fund QRVLX
Steve Scruggs, CFA is the Director of Research & Senior Portfolio Manager for Bragg Financial Advisors, Inc., which manages both the Queens Road Small Cap Value Fund and the Queens Road Value Fund.
Since joining Bragg Financial Advisors in 1999, Mr. Scruggs is directly responsible for the daily oversight of all investment research activities. Mr. Scruggs advises on more than $750 million in assets.
The Russell 2000 Value Index is a subset of the Russell 2000 Index, which tracks the stocks of small domestic companies, based on total market capitalization. The Russell 2000 Value Index represents those stocks of the Russell 2000 with lower price-to book ratios and lower relative forecasted growth rates. You cannot invest directly in these indexes.
Information found on this site is directed to U.S. investors. This does not constitute an offer to sell shares of The Queens Road Funds (The Funds). Offers to sell shares of The Funds may only be made by The Fund's prospectus. To obtain a prospectus, which is a complete discussion of investment objectives, risks, charges and expenses, contact Queens Road Securities, 1031 South Caldwell Street, Suite 200, Charlotte, NC, 28204 or call 1-800-595-3088. The prospectus contains this and other information about The Funds and should be read carefully before investing or sending money. Shares of The Funds are distributed by Queens Road Securities. Performance since inception is from 7/1/2002. Past results do not guarantee future performance. The Queens Road Small Cap Value Fund is available for sale to residents in all 50 states. Total return figures include reinvestment of all dividends and capital gains. The investment return and principal value of your investment may fluctuate, so you may have a gain or loss when you redeem shares.
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