Daily NAV as of July 19, 2019
NAV Daily Change
MBS Total Return Fund - Institutional Class
10.50 -0.01
MBS Total Return Fund - Class A
10.50 0.00
MBS Total Return Fund - Investor Class
10.50 0.00
Short Duration Fund - Institutional Class
9.90 0.00
Short Duration Fund - Investor Class
9.89 0.00

NEW AT SEMPER

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Definitions:

Bloomberg Barclays Aggregate Index: a market capitalization-weighted index, meaning the securities in the index are weighted according to the market size of each bond type. The index includes Treasury securities, Government agency bonds, Mortgage-backed bonds, Corporate bonds, and a small amount of foreign bonds traded in U.S. One cannot invest directly in an index.

Duration: measure of a bond or bond portfolio's sensitivity to changes in interest rates. Generally, the longer the duration, the greater the price change relative to interest rate movements.

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 6/30/19

Semper MBS
Total Return Fund
(SEMMX)

As of 6/30/19 the Semper MBS Total Return Fund received a 5-Star Overall Morningstar Rating™ and a 4-Star 3-Year Morningstar Rating™ among 270 Non-Traditional Bond Funds, and a 5-Star 5-Year Morningstar Rating™ among 199 Non-Traditional Bond Funds.

Semper Short Duration Fund
(SEMIX)

As of 6/30/19 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 128 Ultrashort Bond Funds, respectively.