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Welcome
to the Archer Fund (Ticker: ARCHX)
Archer Balanced Fund's Share Price
as of October 6, 2008 : 8.53
About the Fund
The information that follows
gives a brief overview of the Fund and its investment
objectives and strategies. The Fund's prospectus contains more
complete information about the Fund, including investment
objectives, potential risks, management fees, and charges and
expenses. Please read the prospectus carefully before
investing or sending money.
The Fund seeks to achieve its
objective by investing in a diversified portfolio of equity
and fixed income securities. Under normal circumstances, the
Fund will invest 60% to 80% of its assets in equity
securities. The Fund invests primarily in equity securities of
large capitalization companies (i.e., companies with market
capitalizations over $10 billion), but may also invest in
small- and mid-capitalization companies if the advisor
believes that such investments provide opportunities for
greater returns. Stocks of smaller companies may have more erratic or abrupt price movements than
stocks of larger companies and investments in smaller companies may involve greater
risks than those of larger, more well known companies. The advisor uses a top-down approach to
evaluate industries and sectors of the economy that are
depressed or have fallen out of favor with investors and then
seeks quality companies in those industries or sectors that
have value in the advisor's opinion. Within each, the advisor
seeks to find companies with solid financial strength and
strong management that are selling below their intrinsic
value. Equity securities in which the Fund may invest include
primarily common stocks, as well as securities convertible
into common stocks and preferred stock. The Fund may invest up
to 20% of its assets in real estate investment trusts (REITs).
The Fund may invest up to 15% of
its assets (measured at the time of purchase) in equity or
fixed income securities of foreign companies operating in
developed countries, through sponsored or unsponsored American
Depository Receipts (ADRs) traded on U.S. stock exchanges.
ADRs typically are issued by a U.S. bank or trust company and
represent ownership of underlying securities issued by a
foreign company. The Fund also may pursue its investment
objective directly or indirectly by investing in
exchange-traded funds (ETFs), so long as such investment
otherwise conforms to the Fund's investments policies. In
evaluating ETFs, the advisor considers the fund's investment
strategy, the experience of its portfolio managers, its
performance history, volatility, comparative return and risk
data, asset size, and expense ratio.
For cash management purposes,
the Fund may also invest in short-term, high quality money
market instruments such as short-term obligations of the U.S.
government, its agencies or instrumentalities, bank
obligations, commercial paper or money market mutual funds. By
keeping some cash or cash equivalents, the Fund may be able to
avoid realizing gains and losses from selling stocks when
there are shareholder redemptions. However, the Fund may have
difficulty meeting its investment objective when holding a
significant cash position.
The Fund will not seek to
realize profits by anticipating short-term market movements.
The advisor intends to purchase securities mainly for the
long-term. As a result, the advisor believes the Fund will
have low turnover, which should help minimize short-term
capital gains and postpone long-term capital gains. However,
when the advisor deems that change will benefit the Fund,
portfolio turnover will not be a limiting factor. The Fund's
turnover rate for its first year of operations is expected to
be less than 100%.
The Fund may sell holdings that
the advisor believes have reduced potential for capital
appreciation and/or income, have under performed the market or
their relevant economic sectors, have exceeded their fair
market values, have experienced a change in fundamentals or
are subject to other factors that may contribute to relative
under performance.
Return and share price will
fluctuate and redemption value may be more or less than
original cost. Please read the prospectus for more complete
information including management fee and expenses. |
