PLYMOUTH, MI – January 17, 2017 –Schwartz Investment Counsel, Inc., the investment adviser to Ave Maria Mutual Funds, has named Brian D. Milligan, CFA as the lead portfolio manager of the Ave Maria Growth Fund (Ticker: AVEGX). Milligan joined Schwartz Investment Counsel, Inc. in 2014 and has been co-manager of the Ave Maria Growth Fund since January 2016, along with Richard L. Platte, Jr., CFA, who remains co-manager. Prior thereto, Brian was an analyst with Standard & Poor’s. He has a Bachelor of Science degree from Trine University and graduated magna cum laude from the University of Notre Dame with a Master of Business Administration degree. He is also a CFA® charterholder. George P. Schwartz, Chairman and CEO remarked, “Brian has proven himself as a valuable member of our investment team and we are highly confident in his abilities.” As of 12/31/16, the Fund is rated 4-stars overall by Morningstar among 588 funds in the Mid-Cap Growth category.
Ave Maria Mutual Funds is the largest family of Catholic mutual funds in the U.S with over $1.7 billion in assets. The five no-load funds invest in companies that do not violate core values and teachings 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 $843 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.
Schwartz Investment Counsel, Inc. is a Registered Investment Adviser. Founded in 1980, the Firm is headquartered in Plymouth, Michigan with a branch office in Ave Maria, Florida. In managing the Ave Maria Mutual Funds, investments are made only if companies meet the Funds’ financial and moral criteria. As such, 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. For more information about Schwartz Investment Counsel, Inc. please visit www.schwartzinvest.com.
The Morningstar Rating TM for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall
Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36–59 months of total returns, 60% five-year rating/40% three-year rating for 60–119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. For the period ended 12–31–16, the Fund received the following Morningstar Ratings; Overall 4 stars among 588 funds, 3yr. 4 stars among 588 funds, 5 yr. 3 stars among 504 funds and 10 yr. 4 stars among 368 funds.
Mutual fund investing involves risk, including loss of principal. The Adviser invests only in securities that meet the Fund’s investment and religious requirements. The returns may be lower or higher than if decisions were based solely on investment considerations.
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 avemariafunds.com. Distributed by Ultimus Fund Distributors LLC.
