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Overview

Investment Objective

The Fund seeks growth of capital.

Fund Description

The Growth Fund seeks long-term capital appreciation. The Fund invests in what Yorktown considers the most compelling domestic, international and emerging market growth companies, regardless of market capitalization or sector. Yorktown focuses on companies in attractive industries located in countries with growing GDP and a stable political environment. The Fund is generally appropriate for investors who place a priority on growing capital.

2023 US Refinitiv Lipper Fund Award Recipient

The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award.

The Yorktown Growth Fund A Shares (AFGGX) won Best Fund for the 10-Year period (ended 11/30/22) in the Global Small-/Mid-Cap Funds Category out of 67 other share classes based on consistent risk-adjusted returns.

For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.

Management Team
Portfolio Manager
Managing Director
President & CIO

Why Invest

Focused on growth stocks

Domestic, international and emerging markets

Investments not limited to specific market capitalizations or sectors

Fund Information

Fund Share Class Data

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The minimum initial investment in the Fund’s Class A and Class L Shares is $1,000, and the minimum for additional investments is $100. The minimum initial investment in the Fund’s Institutional Class Shares is $1,000,000, and the minimum for additional investments is $100,000. There are no minimums for purchases or exchanges through employer-sponsored retirement plans.

Overall Morningstar rating based on risk adjusted returns out of 134 Global Small/Mid Stock funds as of 12/31/2023.
Read important information about results and other investment disclosures below.

Expenses

Fees - Class A

* Finder’s Fee. See Prospectus or call the Sales Desk.

Fees - Class I

  • No Load Share Class

Fees - Class L

  • No CDSC
  • No Front or Back End Sales Charges

Performance

Class A inception: 07/01/2004

Class I inception: 05/31/2013

Class L inception: 06/14/1985

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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 3YR, 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.

The Fund Benchmark's SINCE INCEPTION returns are based on share class A's inception date.

Read important information about results and other investment disclosures below.

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 3YR, 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.

The Fund Benchmark's SINCE INCEPTION returns are based on share class A's inception date.

Read important information about results and other investment disclosures below.

*Calendar year performance is not net of any applicable sales charge.

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.

Read important information about results and other investment disclosures below.

Holdings

Top 10 Portfolio Holdings

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Holdings subject to change. Current and future holdings subject to risk.

Distributions

Literature

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Annual Operating Expenses

Per the most recent prospectus, (1) Fund total operating expense ratios are: Class A, 1.90%; Class L, 2.65%; Institutional Class, 1.65% and (2) Fund net annual operating expense ratios are: Class A, 1.54%, Class L, 2.29%, Institutional Class, 1.29%. The net annual expense ratio takes into account contractual management fee waivers that are in effect until May 31, 2024.


Annual Operating Expenses

As of the February 6, 2024 supplement to the prospectus, Fund total operating expense ratios are: Class A, 1.36%; Class L, 2.36%; Institutional Class, 1.36%. 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, 2023, 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, 2024.

Annual Operating Expenses

Per the most recent prospectus, Fund total operating expense ratios are: Class A, 2.68%; Class L, 3.43%; Institutional Class, 2.43%. The Fund does not use fee waivers at this time.

Annual Operating Expenses

Per the most current prospectus, (1) Fund total operating expense ratios are: Class A, 0.92%; Class L, 1.57%; Institutional Class, 0.92% until at least May 31, 2024. (2) In addition, the Adviser has entered into a 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, 2024.