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Ave Maria World Equity Fund  (avewx)

Current Price: $14.28 (as of 11/21/2014)
Daily Change: +$0.12              +0.85%
 

Fund Objective

Ave Maria World Equity Fund seeks long-term capital appreciation from equity investments in companies that do not violate core values and teachings of the Roman Catholic Church.

 ANNUALIZED
Total Returns YEAR-TO-
DATE
1
YEAR
3
YEARS
SINCE
INCEPTION
Ave Maria World Equity Fund (AVEWX) 0.50% 5.32% 11.12% 8.35%
S&P Global 1200® Index 5.15% 9.11% 14.78% 10.88%
Fund Information
Symbol AVEWX
Inception Date April 30, 2010
Fund Managers Gregory R. Heilman, CFA
Joseph W. Skornicka, CFA
Net Assets $41.3 million
Expense Ratio* 1.50%
Number of Holdings 42
Average Market Cap $37.5 billion
Price/Earnings Ratio 16.5x
Quarterly Fact Sheet

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Principal Investment Strategies

Under normal market conditions, the Ave Maria World Equity Fund will invest at least 80% of its net assets, including the amount of any borrowings for investment purposes, in common stocks of U.S. and non-U.S. companies. The Fund will invest at least 60% of its net assets in common stocks issued by non-U.S. companies. For purposes of this requirement, a company is deemed to be a “non-U.S. company” if the company is headquartered outside the United States, or has at least 50% of its revenues or operations outside of the United States. Under normal circumstances, all of the Fund’s equity investments (which include common stocks, preferred stocks and securities convertible into common stock) and at least 80% of the Fund’s net assets will be invested in companies meeting the Fund’s religious criteria. The Fund invests in securities of established companies of various market capitalizations.

The Fund may, with respect to its investments in the stocks of non-U.S. companies, invest directly in such securities and/or indirectly through depositary receipts. Depositary receipts are receipts issued by a bank or trust company and evidence ownership of underlying securities issued by foreign companies. All of the stocks owned by the Fund will be U.S. dollar-denominated and will be traded on a U.S. securities exchange or traded domestically in the over-the-counter markets.

Investing in the Funds

Ave Maria Mutual Funds are no-load and have no sales charges or commissions. They are available to investors through various types of investment accounts, including individual, joint, custodial and retirement accounts such as IRAs.  Coverdell Education Savings Accounts are also available. Fund services include Automatic Investment Plan (AIP) option and Automatic Withdrawal option. The minimum initial investment for each Fund is $2,500. To invest, please read the prospectus carefully, complete the application, and return your check and application. The Funds are also available through many different financial services firms, who may charge additional fees.  Some of the firms that offer our Funds are listed here. If you have a financial professional helping you with your investments, tell them about your interest in Ave Maria Mutual Funds.

The investment performance assumes reinvestment of dividends and capital gains distributions. Performance data reflects certain fee waivers and reimbursements. Without such waivers, performance would have been lower. The S&P 500 Index is a capitalization weighted unmanaged index of 500 widely traded stocks, created by Standard & Poor’s. The index is considered to represent the performance of the stock market in general. The S&P 400 Midcap Index is an unmanaged index created by Standard & Poor’s made up of 400 midcap companies.  The index is the most widely used index for mid-sized companies.  Indexes do not incur fees and it is not possible to invest directly in an index.

Schwartz Investment Counsel, Inc., a registered investment adviser established in 1980, serves as investment adviser for Ave Maria Mutual Funds. The Adviser invests in securities only if they meet the Funds’ investment and religious requirements, and as such, the returns may be lower or higher than if the Adviser made decisions based solely on investment considerations. The Funds’ method of security selection may or may not be successful and the Funds may underperform or outperform the stock market as a whole. All mutual funds are subject to market risk, including possible loss of principal. The Funds’ investments in small and mid capitalization companies could experience greater volatility than investments in large capitalization companies. AVEWX invests in foreign securities and securities issued by U.S. entities with substantial foreign operations. Investments in these securities can involve additional risks relating to political, economic or regulatory conditions in foreign countries. These risks include less stringent investor protection and disclosure standards of some foreign markets; fluctuations in foreign currencies; and withholding or other taxes. AVEFX invests primarily in fixed income securities and as a result the Fund is also subject to the followings risks: interest rate risk, credit risk, credit rating risk, prepayment and extension risk and liquidity risk.

Request a prospectus, which includes investment objectives, risks, fees, expenses and other information that you should read and consider carefully before investing. The prospectus can be obtained by calling 1-866-283-6274 or it can be viewed and downloaded from this website here. Distributed by Ultimus Fund Distributors, LLC.