Daily NAV as of April 23, 2019
NAV Daily Change
MBS Total Return Fund - Institutional Class
10.48 0.00
MBS Total Return Fund - Class A
10.47 0.00
MBS Total Return Fund - Investor Class
10.47 0.00
Short Duration Fund - Institutional Class
9.88 0.00
Short Duration Fund - Investor Class
9.88 0.00

NEW AT SEMPER

Definitions:

Cashflows: Mortgages typically have required monthly interest and principal payments which are collected by servicers of mortgage-backed securities trusts, which in turn distribute these payments to MBS investors.
Bps (Basis point): Denotes the change in interest rates or the yield of a fixed-income security (1/100th of 1%).

Semper Capital is an independent investment advisor specializing in structured products with a focus on mortgage-backed securities.

The Overall Morningstar Rated™ Semper MBS Total Return Fund (SEMMX) invests primarily in mortgage-backed securities (MBS) including residential MBS (RMBS) and commercial MBS (CMBS). The Fund seeks to provide a high level of risk-adjusted current income and capital appreciation.

The Overall Morningstar Rated™ Semper Short Duration Fund (SEMIX) invests primarily in short duration securities in sectors including RMBS and CMBS. The Fund seeks to provide a high level of current income that is consistent with preservation of capital.

All classes offer daily purchases and redemptions. The Institutional Shares have no Rule 12b-1 distribution and service fee and have a higher minimum initial investment than Investor and Class A Shares. Investor and Class A Shares have a 0.25% Rule 12b-1 distribution and service fee.

 

 

Overall Morningstar Ratings™
As of 3/31/19

Semper MBS
Total Return Fund
(SEMMX)

As of 3/31/19 the Semper MBS Total Return Fund received a 5-Star Overall Morningstar Rating™ and a 4-Star 3-Year Morningstar Rating™ among 278 Non-Traditional Bond Funds, and a 5-Star 5-Year Morningstar Rating™ among 187 Non-Traditional Bond Funds.

Semper Short Duration Fund
(SEMIX)

As of 3/31/19 the Semper Short Duration Fund received a 5-Star Overall Morningstar Rating™ among 151 Ultrashort Bond Funds and a 5-Star Morningstar Rating™ for both the 3 and 5 year periods among 151 and 131 Ultrashort Bond Funds, respectively.