GuruFocus

23 Questions with Adam Strauss of Appleseed Fund

12/28/2016
By PJ Pahygiannis

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Investing involves risk, including loss of principal.  Investments in international markets present special risks including currency fluctuation, the potential for diplomatic and political instability, regulatory and liquidity risks, foreign taxation and differences in auditing and other financial standards. 

The views and opinions expressed in this material are those of the participants.  There is no guarantee that any opinions in this material will be realized.  Information should not be construed as investment advice nor be considered a recommendation to buy, sell or hold any particular security.

You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing.  The Fund’s prospectus contains this and other information about the Fund, and should be read carefully before investing.  You may obtain a current copy of the Fund’s prospectus by calling 1-800-470-1029.  Distributed by Unified Financial Securities, LLC.  (Member FINRA)

The following securities were mentioned in the article.  As of 9/30/2016 the fund had the following positioning in mentioned securities: BRK.A – 0.00%, TSE6103 – 1.58%, VRX 0.00%, JBSS – 0.00%, RTK – 0.74%, OAK – 4.30%, XKRX 057050 – 3.25%, HLF- 6.45%,  AGK – 1.89%, SYNT- 2.23%, QVCA – 0.00%, HSNI – 0.00%.

Through 09/30/2016, the Appleseed Fund (APPLX) generated a one year return of 9.90%, a three year annualized return of 0.98%, a five year annualized return of 6.48% and an annualized return of 6.05% since the Fund’s inception on 12/08/06.

Investment Terms:

EV/Sales – Enterprise-value-to-sales is a valuation measure that compares the enterprise value (EV) of a company to the company’s sales. EV-to-sales gives investors a quantifiable metric of how much it costs to purchase the company’s sales.

EV/EBIT- The value of the metric is determined by dividing a company’s enterprise value (EV) by its earnings before interest, taxes, depreciation and amortization (EBITDA). The numerator of the formula, the EV, is calculated as the company’s total market capitalization and preferred shares and debt, minus total cash.

P/B – The price-to-book ratio (P/B Ratio) is a ratio used to compare a stock’s market value to its book value. It is calculated by dividing the current closing price of the stock by the latest quarter’s book value per share.

Performance data quoted above represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month is available by calling us toll free at 1-800-470-1029.

Appleseed Fund has contractually agreed to limit the net expense rate to 1.14% of net assets of Investor shares and 0.95% of net assets of Institutional shares, through January 31, 2017. The gross expense ratio of the Fund’s investor class is 1.41%, and the net expense ratio after contractual fee waivers is 1.24%. The gross expense ratio of the Fund’s institutional class is 1.22%, and the net expense ratio after contractual fee waivers is 1.05%. The Fund’s ninety day redemption fee is 2.00%.