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Queens Road Small Cap Value Fund Named to
Schwab Mutual Fund OneSource Select List

CHARLOTTE, NC, August 31, 2016— Charles Schwab's Mutual Fund OneSource Select List® includes the Queens Road Small Cap Value Fund (QRSVX) for Q3 2016.

The Mutual Fund OneSource Select List is comprised of no-load and no-transaction fee mutual funds that Charles Schwab Investment Advisory, Inc. (CSIA) has rigorously screened for performance, risk, and expenses. The purpose of the list is to help investors sort through the thousands of available mutual funds to identify top-tier offerings. The Queens Road Small Cap Value Fund is one of only four funds in the Morningstar Small Value Category named to the OneSource Select List®.

"We are honored to be named to the OneSource Select List," said Steve Scruggs, CFA®, Portfolio Manager since the fund's 2002 inception. "We have used the same value investment process since our inception, and it is gratifying to see our results recognized by a highly-regarded institution like Charles Schwab."

Benton Bragg, CFA®, serves as Chair of the Investment Committee and works alongside Scruggs as an analyst on the Queens Road Small Cap Value fund. "The fund has out-performed the Russell 2000 Value Index over the past 10 years and since inception by not losing as much during down markets," says Bragg. Since inception in June of 2002, the Russell 2000 Value Index has recorded 17 losing quarters. The Queens Road Small Cap Value fund out-performed the Russell 2000 Value Index in 15 of those 17 losing quarters.

Queens Road Small Cap Value Investment Performance as of June 30, 2016

1 Yr
3 Yr*
5 Yr*
10 Yr*
Since
Inception*
Cumulative
Lifetime
Queens Road Small Cap Value Fund 3.10% 8.95% 7.29% 6.84% 9.51% 258.35%
Russell 2000 Value Index -2.58% 6.36% 8.15% 5.15% 7.88% 190.10%
*Average annualized performance since June 2002 inception
Gross annual operating expenses 1.26%; net annual operating expenses 1.24%

Important Performance and Expense Information
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 (888) 353‑0261.

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.

Gross annual operating expenses reflect each Fund's gross total annual operating expenses, service fees, other expenses, and any applicable acquired fund fees and expenses. Net annual operating expenses reflect gross annual operating expenses exclusive of any applicable acquired fund fees and expenses. All expense information is reported as of the Fund's most current prospectus. Acquired fund fees and expenses reflect the estimated amount of the fees and expenses incurred indirectly by any applicable Fund through its investments in mutual funds, hedge funds, private equity funds and other investment companies.

From inception to 12/31/2004 the Fund's manager and its affiliates voluntarily absorbed certain expenses of the fund and voluntarily 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.

Queens Road Small Cap Value Fund invests primarily in small-cap companies which may involve considerably more risk than investing in larger-cap stocks.

About the Queens Road Small Cap Value Fund
The Queens Road Small Cap Value Fund uses fundamental, bottom-up analysis to construct a diversified portfolio of small-capitalization companies1. The research process is built on the principles established by Benjamin Graham to identify companies that are trading at a discount to their intrinsic value. Companies must pass through a rigorous quantitative and qualitative analysis that considers balance sheet, cash flow, valuation, management’s tenure and ability to execute, and industry and sector. Steve Scruggs, CFA®, has served as Portfolio Manager since inception in 2002. He is supported by two analysts, Benton Bragg, CFP®, CFA®, and Matt DeVries, CFA®.

About the Investment Advisory Firm
The Queens Road Funds are managed by Bragg Financial Advisors, a boutique investment advisory firm located in Charlotte, North Carolina. The firm manages over $1.1 billion for institutions and private clients. The portfolio manager, fund analysts and trustees, and firm principals and associates are the largest shareholders in the Queens Road Funds.

1 The Fund defines a small-capitalization (small-cap) company as one whose market capitalization, at the time of purchase, is generally less than that of the company with the largest capitalization included in the Russell 2000 Value Index.

Charles Schwab & Co., Inc., member of SIPC, receives remuneration from fund companies for record keeping, shareholder services, and other administrative services for shares purchased through its Mutual Fund OneSource service.

An investor should carefully consider a Fund’s investment objective, risks, fees, charges, and expenses before investing or sending money. This and other important information about The Queens Road Funds can be found in the Funds’ prospectus. To obtain a prospectus, and information about the performance of The Queens Road Funds, please call (888) 353-0261 or visit www.queensroadfunds.com. Please read the prospectus carefully before investing. Distributor: Queens Road Securities, LLC

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Contact: John Bragg, CFP®
Vice President, RIA Relationships
john@queensroadfunds.com
(888) 353-0261