Masters'
Select Equity Fund (Institutional Class 12/31/96)
4.01%
0.09%
68.32%
-7.33%
-0.89%
1.40%
5.83%
Masters' Select Equity Fund (Investor Class 4/30/09)
4.02%
0.09%
n/a
n/a
n/a
n/a
30.77*
Russell 3000 Index
3.39%
-0.34%
55.96%
-5.60%
0.80%
0.07%
5.13%
Custom Equity Index
3.00%
-0.80%
56.00%
-5.86%
0.83%
0.49%
5.15%
Lipper Multi-Cap Core Index
3.37%
-0.43%
59.78%
-4.99%
1.39%
0.53%
5.10%
*Cumulative return
Quarterly performance as of : 12/31/2009
Performance
One Month
Year to Date
12 Month Total Return
3 Year Average Annual Total Return
5 Year Average Annual Total Return
10 Year Average Annual Total Return
Average Annual Return Since Inception
Masters'
Select Equity Fund (Institutional Class 12/31/96)
5.73%
44.30%
44.30%
-7.04%
-1.61%
1.17%
5.90%
Masters' Select Equity Fund (Investor Class 4/30/09)
5.64%
30.65%
n/a
n/a
n/a
n/a
30.65%*
Russell 3000 Index
2.85%
28.34%
28.34%
-5.42%
0.76%
-0.20%
5.22%
Custom Equity Index
3.11%
27.35%
27.35%
-5.61%
0.89%
0.34%
5.29%
Lipper Multi-Cap Core Index
3.39%
35.34%
35.34%
-4.59%
1.42%
0.67%
5.21%
*Cumulative return
Gross Expense Ratio*
Net Expense Ratio**
Masters' Select Equity Fund (Institutional Class)
1.25%
1.24%
Masters' Select Equity Fund (Investor Class)
1.50%
1.50%
*The gross expense ratios can be found on page 4 of
the most recent Prospectus (4/30/09).
**The net expense ratios can be found on page 44
of most recent Prospectus (4/30/09).
** Through 04/30/10, Litman/Gregory has voluntarily agreed to waive a portion of its management fee to pass through any costs benefits resulting from sub-advisor breakpoints, changes in the sub-advisory fee schedules or allocations.
Performance data
quoted represents past performance and does not guarantee
future results. The investment return and principal value of an
investment will fluctuate so that that an investor’s shares,
when redeemed, may be worth more or less than their original cost. The
funds impose a 2% redemption fee on shares held less than 180 days.
Performance data does not reflect the redemption fee. If reflected,
total returns would be reduced. Current performance of
the fund may be lower or higher than the performance quoted.
Prior to April 30, 2009, the Fund's Institutional Class was an unnamed share class. The Fund's Investor Class commenced operations on April 30, 2009. Because the fees and expenses vary between classes, performance will vary with respect to each class.
Indexes are unmanaged, do not incur fees and cannot be invested in directly. Click here for index definitions.
Best/Worst Rolling Return Periods as of : 12/31/2009
Performance
MSEFX
Russell 3000
Number of Periods
Best Rolling 12-Mo. Period
47.7%
47.7%
145
Worst Rolling 12-Mo. Period
-49.6%
-43.5%
145
Best Rolling 36-Mo. Period
104.0%
105.0%
121
Worst Rolling 36-Mo. Period
-48.6%
-40.4%
121
Best Rolling 60-Mo. Period
99.5%
111.8%
97
Worst Rolling 60-Mo. Period
-40.1%
-28.1%
97
Percent Negative 12-Mo. Rolling
31.7%
35.2%
145
Percent Negative 36-Mo. Rolling
27.3%
36.4%
121
Percent Negative 60-Mo. Rolling
15.5%
37.1%
97
Percent Beat Benchmark 12-Mo.
55.9%
n/a
145
Percent Beat Benchmark 36-Mo.
53.7%
n/a
121
Percent Beat Benchmark 60-Mo.
61.9%
n/a
97
The first rolling 12 month-period is reached 12 months after each fund's inception (based on month-end dates). The starting and ending periods then "roll" forward one month at a time to comprise a new 12-month period. The first rolling three-year period is reached 36 months after each fund's inception (based on month-end dates). The starting and ending periods then "roll" forward one month at a time to comprise a new 36-month period. The first rolling five-year period is reached 60 months after each fund's inception (based on month-end dates). The starting and ending periods then "roll" forward one month at a time to comprise a new 60-month period.
Though not an
international fund, the fund may invest in foreign securities.
Investing in foreign securities exposes investors to economic,
political and market risks and fluctuations in foreign currencies.
Though not a small-cap fund, the fund may invest in the securities
of small companies. Small-company investing subjects investors
to additional risks, including security price volatility and less
liquidity than investing in larger companies.
