Perritt Low Priced Stock Fund
|YTD||1-YR||3-YR||5-YR||10-YR||Since Incep. 6/30/12|
|Net Expense Ratio 1.40%||Gross Expense Ratio 2.66%|
The investment adviser has voluntarily agreed to waive fees and/or reimburse operating expenses (other than interest, brokerage commissions, dividend expense on short sales, taxes, extraordinary expenses and acquired fund fees and expenses) so that total annual operating expenses are not expected to exceed 1.39% through 2/28/2019. The net expense ratio represents what investors have paid.
Performance data quoted represents past performance of the fund’s predecessor, a separately managed account. Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted.
Performance data quoted of the Low Priced Stock Fund for periods on or prior to 2/28/14 represents past performance of the fund’s predecessor, a separately managed account. The fund is the successor to a separately managed account. The investment policies, objectives, guidelines and restrictions of the fund are in all material respects equivalent to those of the predecessor, and the predecessor’s portfolio managers are the current portfolio managers of the fund. However, the predecessor was not a registered investment company. Had the predecessor been registered under the Investment Company Act and been subject to the provisions of the Investment Company Act and the Internal Revenue Code to which the fund is subject, its investment performance may have been adversely affected. The performance information reflects the gross expenses of the predecessor adjusted to reflect the higher fees and expenses of the fund. The performance is shown net of the annual management fee of 1.00% and other expenses. The performance was achieved by the predecessor when assets were relatively small; the same strategies may not be available, and similar performance may not be achieved, when the fund’s assets are larger.
Performance data to the most recent month end may be obtained by calling (800) 331-8936. The fund imposes a 2% redemption fee on shares held for less than 90 days. Performance data does not reflect the redemption fee. If reflected, total returns would be reduced.
The above charts compare the value of a hypothetical $10,000 investment in the Perritt Low Priced Stock Fund from June 30, 2012 to December 31, 2018, compared to the S&P 500 Index and the Russell 2000 Index. These charts illustrate the performance of a hypothetical $10,000 investment made on the fund’s inception date and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The charts assume reinvestment of capital gains and dividends.
The Russell 2000 Index consists of the smallest 2000 companies in a group of 3000 companies in the Russell 3000 as ranked by market cap. The S&P 500 is an unmanaged broad based universe of 500 stocks which is widely recognized as the US equity market. One cannot invest directly in an index.
The fund is a successor to a separately managed account incepted on 6/30/2012.