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Share Price (NAV) on September 2, 2010 |
$11.66 |
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Previous Close |
$11.54 |
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Percentage Change |
2.76% |
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52-week High |
$13.26 |
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52-week Low |
$10.48 |
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Total Net Assets |
$29.3 Million |
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Average Market Capitalization |
$73.3 Billion |
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Portfolio Turnover Rate |
8.4% |
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Weighted Price to Earnings Ratio of Portfolio |
24.9 |
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Number of Securities Held |
48 |
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The GKM Growth Fund seeks to minimize portfolio turnover. This is in direct opposition to most stock mutual funds, many of which have average turnover rates over 100%. Our low turnover strategy tends to result in very low transaction expenses for the Fund. |
| As displayed on the Cumulative Performance chart above, historically the GKM Growth Fund has outperformed the S&P 500. After 103 months, the GKM Growth Fund is up 19.5%, with low portfolio turnover, versus 12.4% for the S&P 500. |
Average Annual Total Returns (for periods ended 7/31/10)
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Year to Date |
One Month |
Three Months |
One Year |
Five Year |
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GKM Growth Fund |
-2.54% |
5.68% |
-8.04% |
11.74% |
-1.02% |
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S&P 500 Index |
-0.11% |
7.01% |
-6.69% |
13.84% |
-0.17% |
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Since Inception Annualized (12/28/01) |
Since Inception Cumulative (12/28/01) |
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GKM Growth Fund |
2.10% |
19.49% |
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S&P 500 Index |
1.37% |
12.43% |
Average Annual Total Returns(for periods ended 6/30/10)
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Quarter |
One Year |
5 Year |
Since Inception
Annualized
(12/28/01) |
Since InceptionCumulative
(12/28/01) |
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GKM Growth Fund |
-12.31% |
16.32% |
-1.10% |
1.45% |
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S&P 500 Index |
5.39% |
49.77% |
1.92% |
0.55% |
4.77% |
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The performance data quoted represents past performance and is not predictive of future results. The 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. The performance data quoted herein includes the reinvestment of dividends, captial gains and other income. The performance data quoted herein does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Current performance may be higher or lower than the performance data quoted above. For more current performance information, please contact a shareholder service representative at 1-888-456-9518. |
| The S&P Index is a market-weighted index, which has a large capialization bias. The indes consists of 500 stocks chosen for market size, liquidity and industry grouping, among other factors. The performance fiqures for the S&P 500 Index does not reflect any deduction for fees, expenses or taxes. |
Investments
Sectors (as of 7/31/10)
(Back to top)
Top Ten Holdings (as of 7/31/10)
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1. |
Apple Computer |
7.3% |
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2. |
Google Inc |
5.8% |
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3. |
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4.9% |
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4. |
International Business Machines |
4.9% |
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5. |
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4.8% |
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6. |
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3.8% |
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7. |
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3.6% |
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8. |
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3.4% |
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9. |
Intuitive Surgical Inc Ne |
3.3% |
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10. |
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3.0% |
The Top Ten Holdings account for 44.8% of the GKM Growth Fund.
The fund is actively managed; therefore holdings are subject to change without notice.
(Back to top)
Shareholder Fees (fees paid directly from your investment)
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Maximum Sales Charge (Load) Imposed on Purchases |
NONE |
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Maximum Deferred Sales Charge (Load) |
NONE |
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Redemption Fee |
NONE |
Annual Fund Operating Expenses (expenses that are deducted
from Fund assets)
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Management Fee (i) |
1.40% |
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Distribution and/or Service (12b-1) Fees |
NONE |
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Borrowing Costs (ii) |
0.29% |
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Other Expenses (ii) |
0.01% |
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Total Annual Fund Operating Expenses |
1.70% |
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1.(i) The adviser pays all of the operating expenses of the Fund except brokerage, taxes, borrowing costs, such as (a) interest and (b) dividend expense on securities sold short, fees and expenses of non-interested person trustees, extraordinary expenses and distribution and/or service related incurred pursuant to Rule 12b-1 under the Investment Company Act of 1940 (if any).
(ii) Borrowing Costs and Other Expenses are based on the annualized rate of the prior fiscal year.
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NOTES:
- The fund is actively managed; therefore holdings are subject to change without notice.
- An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The Fund's prospectus contains this and other information about the Fund. You may obtain a prospectus by calling 1-888-456-9518 or by visiting our website at www.gkmfunds.com. Please read the prospectus carefully before investing.
- The Fund is currently using leverage as part of its investment strategy. As a result, the Fund's Total Annual Fund Operating Expenses will increase based on the borrowing costs incurred by the Fund.
- Distributed by Ultimus Fund Distributors, LLC.
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First Western Investment Management is a registered investment advisor with the U.S. Securities and Exchange Commission (SEC). In addition, First Western Investment Management is currently registered with the states of Arizona, California, Colorado, Hawaii, Illinois, Louisiana, Massachusetts, Nevada, New York and Pennsylvania. We will register with additional states whenever our client count in any particular state meets registration requirements. Please read our full
regulatory information.
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