Press Release

Adviser to Ave Maria Mutual Funds Announces Portfolio Manager Changes

January 6, 2016 – PLYMOUTH, Michigan.

Schwartz Investment Counsel, Inc., the investment adviser for the Ave Maria Mutual Funds, has announced several portfolio manager promotions effective January 1, 2016. For the Ave Maria Catholic Values Fund, Timothy S. Schwartz, CFA was named Lead Portfolio Manager, Joseph W. Skornicka, CFA was named co‐Portfolio Manager and George P. Schwartz, CFA remains as co‐Portfolio Manager. For the Ave Maria Growth Fund, Richard L. Platte, Jr., CFA was named Lead Portfolio Manager and Brian D. Milligan, CFA was named co‐Portfolio Manager. For the Ave Maria Rising Dividend Fund, Richard L. Platte, Jr., CFA was named Lead Portfolio Manager and George P. Schwartz, CFA remains co‐Portfolio Manager. For the Ave Maria World Equity Fund, Joseph W. Skornicka, CFA was named Lead Portfolio Manager and Robert C. Schwartz, CFP was named co‐Portfolio Manager. For the Ave Maria Bond Fund, Brandon S. Scheitler was named Lead Portfolio Manager and Richard L. Platte, Jr., CFA remains co‐Portfolio Manager.

George P. Schwartz, Chairman and Chief Executive Officer, struck an optimistic tone in remarking, “these portfolio managers will continue to be supported by our staff of expert research analysts.”

About Ave Maria Mutual Funds

Ave Maria Mutual Funds is the largest family of Catholic mutual funds in the U.S. The five no‐load funds invest in companies that do not violate the pro‐life, pro‐family values of the Catholic Church. Ave Maria Mutual Funds launched its first fund, the Ave Maria Catholic Values Fund (Ticker: AVEMX), on May 1, 2001. Since then it has added three additional stock funds and one bond fund. The largest of the funds is the $759 million Ave Maria Rising Dividend Fund (Ticker: AVEDX). For more information about Ave Maria Mutual Funds, please call 1‐866‐AVE‐MARIA (866‐283‐6274) or visit www.avemariafunds.com.

About Schwartz Investment Counsel, Inc.

Schwartz Investment Counsel, Inc. is a Registered Investment Adviser founded in 1980. Headquartered in Plymouth, Michigan, the firm manages more than $1.7 billion of investor assets and has a branch office in Ave Maria, Florida. The firm aims to provide superior investment counsel to investors who seek a disciplined approach to investing. For more information about Schwartz Investment Counsel, Inc. please visit www.schwartzinvest.com.

Schwartz Investment Counsel, Inc. serves as investment adviser for Ave Maria Mutual Funds, which invests in securities only if they meet the Funds’ investment and religious requirements. As such, the returns may be lower or higher than if decisions were 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.

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 at www.avemariafunds.com. Distributed by Ultimus Fund Distributors LLC.