Mutual Funds

As of 2/28/2023

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The data listed above is for the Institutional Share Class only.

The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment in the Fund 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 lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-800-544-6060.

The 5YR and 10YR returns are annualized. SINCE INCEPTION returns are annualized when the time period from the Fund’s inception to the “As of” date is greater than 12 months.

Read important information about results and other investment disclosures below.

Email: info@yorktownfunds.com
Phone: (800) 544-6060

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Email: info@yorktownfunds.com • Phone: (800) 544-6060

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Important Disclosures

You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing. The Fund’s prospectus contains this and other information about the Fund, and should be read carefully before investing. You may obtain a current copy of the fund’s prospectus by calling 800-544-6060.

Important Risk Information

Investing involves risk, including loss of principal. There is no guarantee that this, or any, investment strategy will succeed. Fixed income investments are affected by a number of risks, including fluctuation in interest rates, credit risk, and prepayment risk. In general, as prevailing interest rates rise, fixed income securities prices will fall.

A Fund’s direct or indirect investments in foreign securities, including depositary receipts, involve risks not associated with investing in U.S. securities that can adversely affect the Fund’s performance. Foreign markets, particularly emerging markets, may be less liquid, more volatile and subject to less government supervision than domestic markets.

Small- and Mid-Cap investing involve greater risk not associated with investing in more established companies, such as greater price volatility, business risk, less liquidity and increased competitive threat.

An investment in an exchange-traded fund (ETF) generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded) that has the same investment objectives, strategies, and policies. The price of an ETF can fluctuate up or down, and the Fund could lose money investing in an ETF if the prices of the securities owned by the ETF go down. In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF’s shares may trade above or below their net asset value; (ii) an active trading market for an ETF’s shares may not develop or be maintained; or (iii) trading of an ETF’s shares may be halted if the listing exchanges officials deem such action appropriate, the shares are de-listed from the exchange, or the activation of market-wide “circuit breakers” (which are tied to large decreases in stock prices) halts stock trading generally.

Investments in real estate investment trusts (“REITs”) and real-estate related securities involve special risks associated with an investment in real estate, such as limited liquidity and interest rate risks and may be more volatile than other securities. In addition, the value of REITs and other real estate-related investments is sensitive to changes in real estate values, extended vacancies of properties and other environmental and economic factors.

Funds whose investments are concentrated in a specific industry or sector may be subject to a higher degree of market risk than funds whose investments are diversified. In addition, the Fund may be subject to specific risks of the technology sector, such as obsolescence.

Diversification does not ensure a profit or guarantee against loss.

Performance Information

The Performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment in the Fund 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 lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-800-544-6060.

As of the Short Term Bond Fund’s most recent prospectus, (1) Fund total operating expense ratios are: Class A, 0.87%; Class L, 1.52%; Institutional Class, 0.87% until at least May 31, 2023. (2) In addition, the Adviser has entered into contractual expense limitation agreement with the Trust so that the Fund’s ratio of total annual operating expenses are limited to 0.84% for Class A shares and Institutional Class shares and 1.49% for Class L Shares until at least May 31, 2023.

As of the Multi-Sector Bond Fund’s most recent prospectus, the operating expense ratios for the Yorktown Multi-Sector Bond Fund are as follows: Class A, 1.11%; Class L, 1.61%; Institutional Class, 0.61%. The Fund does not use fee waivers at this time.

As of the Growth Fund’s most recent prospectus, Fund total operating expense ratios are: Class A, 1.37%; Class L, 2.37%; Institutional Class, 1.37%. In the interest of limiting expenses of the Fund, the Adviser has entered into a contractual expense limitation agreement with the Trust, effective May 31, 2022, so that the Fund’s ratio of total annual operating expenses is limited to 0.99% for Class A Shares, 1.99% for Class L Shares, and 0.99% for Institutional Class Shares until at least May 31, 2023.

As of the Small Cap Fund’s most recent prospectus, (1) Fund total operating expense ratios are: Class A, 1.63%; Class L, 2.38%; Institutional Class, 1.38% and (2) Fund net annual operating expense ratios are: Class A, 1.41%, Class L, 2.16%, Institutional Class, 1.16%. The net annual expense ratio takes into account contractual management fee waivers that are in effect until May 31, 2023.

Yorktown Funds are distributed by Ultimus Fund Distributors, LLC (member FINRA/SIPC). Yorktown Funds and Ultimus Fund Distributors, LLC are not affiliated.

Check the background of Ultimus Fund Distributors, LLC on FINRA’s BrokerCheck: brokercheck.finra.org.