© 2019 by Palm Valley Capital Management

Mutual fund investing involves risk.  Principal loss is possible.  The Palm Valley Capital Fund invests in smaller sized companies, which involve additional risks such as limited liquidity and greater volatility than large capitalization companies.  The ability of the Fund to meet its investment objective may be limited to the extent it holds assets in cash (or cash equivalents) or is otherwise uninvested.

 

The Palm Valley Capital Fund is offered only to United States residents, and information on this web site is intended only for such persons. Nothing on the web site should be considered a solicitation to buy or an offer to sell shares of the Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

The Palm Valley Capital Fund is distributed by Quasar Distributors, LLC.

Availability of Additional Information

The Palm Valley Capital Fund's investment objectives, risks, charges and expenses must be considered carefully before investing.  The prospectus contains this and other important information about the investment company, and it may be obtained by calling 904-747-2345, or clicking here.  Read it carefully before investing.

Palm Valley Capital Fund

Investment Performance (%) as of March 31, 2020

* The inception date for the Palm Valley Capital Fund is April 30, 2019.

 

Periods over one year are annualized.  Returns reflect reinvested capital gains and dividends but not the deduction of taxes an investor would pay on distributions.

 

Performance data quoted represent past performance; Past performance is no guarantee of future results.  The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be higher or lower than the performance quoted.  Performance of the Fund current to most recent quarter-end can be obtained by calling 904-747-2345.

The S&P Small Cap 600 Index measures the small cap segment of the U.S. equity market.  The index is designed to track companies that meet specific inclusion criteria to ensure that they are liquid and financially viable.

 

The Morningstar Small Cap Index tracks the performance of U.S. small-cap stocks that fall between 90th and 97th percentile in market capitalization of the investable universe.  It is not possible to invest directly in an index.

As of the most recent prospectus, the Fund’s gross expense ratio is 2.02% and the net expense ratio is 1.25%.  Palm Valley Capital Management has contractually agreed to waive its management fees and reimburse Fund operating expenses through at least April 30, 2021.   

Fund Distributions (Dividends)

Mutual funds are required by law to pay substantially all net investment income (interest income and dividends) and capital gains (short-term and long-term) to their shareholders.  This usually occurs at the end of the year and causes the fund's NAV to decline by the amount of the distribution.  Shareholders can take the distribution in the form of immediate payments or reinvest it in additional fund shares.  

The Palm Valley Capital Fund has made the following distributions per share:

December 27, 2019       $0.030340       Short-term capital gains

December 27, 2019       $0.041502       Income