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Queens Road Value Fund
The investment objective of the Fund is growth of capital. Investments will be made based on their potential for capital growth.
Investment Objectives
The Queens Road 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 Value Fund pursues its objective by following a value-oriented strategy in which investment 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 advisor attempts to select investment situations where stock prices are undervalued by the market. The fund maintains the flexibility to invest in companies with any level of market capitalizations.
The Fund seeks to provide superior risk adjusted returns relative to the S&P/Citigroup Value Index.
Performance
| As of December 31, 2009 |
View Fund Details |
| |
3-Month
(not annualized) |
1-Year |
3-Year |
5-Year |
Inception* |
| QRVLX |
6.35% |
21.47% |
-5.61% |
0.69% |
66.87% |
S&P 500/
Citigroup Value Index |
4.22% |
21.18% |
-9.10% |
-0.27% |
53.93% |
| S&P 500 |
6.04% |
26.46% |
-5.63% |
0.42% |
48.37% |
The Queens Road Value 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.
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.
*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, 2009
| CBS CORP. CLASS B |
4.07% |
| NEWS CORP. |
3.50% |
| MERCK & CO., INC. |
2.90% |
| INTL BUSINESS MACHINES INC. |
2.63% |
| LEUCADIA NATIONAL CORP. |
2.57% |
| ISHARES COMEX GOLD |
2.47% |
| PROGRESSIVE CORP. |
2.21% |
| GLAXOSMITHKLINE PLC |
2.18% |
| EMC CORP. |
2.01% |
| MICROSOFT CORP |
2.01% |
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. He joined Bragg Financial in 1999 following 3 years as Product Manager with GMAC Insurance and Reliance Insurance Companies. He received his BA from North Carolina State University and MBA from Wake Forest University.
Prior to November 26, 2003, the Queens Road Value Fund was named the Queens Road Large Cap Value Fund. Until that time, the Fund followed an investment policy requiring it to invest at least 80% of its net assets in stocks of companies with market capitalizations of greater than $5 billion at the time of purchase. Subsequent to the name change, that investment policy was removed allowing the Fund to invest a greater percentage (without limit) of its net assets in companies with market capitalizations of less than $5 billion.
S&P 500/Citigroup Value Index
The S&P 500/Citigroup Value Index along with its counterpart the S&P 500/Citigroup Growth Index were introduced in December 2005. Previously, these indices were known as the S&P 500/Barra Growth and Value Indices. These Indices are created by dividing the S&P 500 Index based upon seven different factors, four to determine value characteristics and three to determine growth characteristics. The companies are allocated to each index according to their growth or value characteristics, with about one-third being allocated to both the growth and value index. It is not possible to invest directly in the S&P 500/Citigroup Value Index. The S&P 500/Citigroup Growth Index and S&P 500/Citigroup Value Index are the exclusive property of Standards & Poors.
S&P 500
The S&P 500 is an unmanaged, capitalization-weighted index. Performance figures assume reinvestment of capital gains, dividends, but do not include any fees or expenses. It is not possible to invest directly in the S&P 500.
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, 100 Queens Road, 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 Value Fund is not available for sale to residents in all 50 states. 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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