Auxier Asset Management » News Releases

Auxier Focus Fund Has “Achieved A Track Record That Many House Name Mutual Fund Managers Would Love To Have,” Says GuruFocus

lwidolff — Mon, 09 Aug 2010 19:31:46 +0000

(as of 6/30/2010)

Jeff Auxier Joins Warren Buffett, Donald Yacktman And Others On The GuruFocus “Guru” List; AUXFX Also Added To “Morningstar’s 500”

August 2010, Lake Oswego, OR–Once again, the Auxier Focus Fund, now 11 years old, has soared past the S&P 500 Index and most of the fund’s peers in the Morningstar Large Value category. Founder, manager Jeff Auxier also earned impressive nods from Morningstar and GuruFocus. “We feel this is a great time to be an opportunistic manager in a “go-anywhere” fund. Currently, 70% of trading is not based on intrinsic value. This creates opportunities for the serious, long-term business analyst,” says Auxier.

Auxier Focus Fund Performance:

AUXFX outperforms S&P 500 by 86.99 percentage points. (As of 6/30/10 and since inception 7/9/1999, cumulative returns for AUXFX: 76.35% and cumulative returns for S&P 500 Index: ‑10.64%)
AUXFX Outperforms 98% of Peers. (As of 6/30/10 in its 3 year Morningstar Large Value category. The Fund’s 1, 3, 5 and 10 year Morningstar rankings are, respectively, 690 out of 1283 funds; 13 out of 1135 funds; 32 out of 952 funds; and 15 out of 494 funds. Morningstar rankings are based on a fund’s total return performance. Past performance is not an indicator of future results.)
AUXFX outperforms S&P and Lipper Peer Category Multi-Cap Value in 3, 5, & 10 year periods. (AUXFX annualized returns for the 1, 3, 5, & 10 year periods were 12.99%, -4.16%, 1.97%, 5.79% and respectively. The S&P 500 Index returns for the same periods were 14.43%, -9.81%, -0.79%, -1.59% respectively and the Multi-Cap Value Category returns for the same periods were 16.55%, -11.60%, -1.58%, 2.82% respectively.)
Overall 5 Star Morningstar Designation. (Overall Morningstar rating as of 6/30/2010 out of 1,135 Large Value Funds. Derived from a weighted average of the risk adjusted performance figures associated with the Fund’s 3, 5 and 10 year Morningstar Rating metrics.)
Overall Lipper Leader for “Consistent Return”. (Lipper Leader Multi-Cap Value classification, received the following ratings for the 3, 5, 10 year and Overall periods, respectively: Lipper Leader among 259 funds, 201 funds, 90 funds and 261 Funds as of 6/30/2010.)
Overall Lipper Leader for “Preservation”. (Lipper’s Equity fund classification, received the following ratings for the 3, 5, 10 year and Overall periods, respectively: Lipper Leader among 9,704, 7,658, 4,104 and 9,704 Funds as of 6/30/2010.)
Overall Lipper Leader for “Total Return”. (Lipper’s Multi-Cap Value classification, received the following ratings for the 3, 5, 10 year and Overall periods respectively: Lipper Leader among 266, 202, 92 and 266 Funds as of 6/30/2010.)
Jeff Auxier added to GuruFocus’s “Guru” List. (GuruFocus: “Only a handful of people in this world can qualify as investment Gurus. We have carefully identified a number of investment Gurus based on their long term track record. We track their portfolio, buys, sells and insights in market.”) GuruFocus.com July 2010.
AUXFX makes the Morningstar 500. (Morningstar’s list of funds “narrowed down from 7,000” that Morningstar says “should be on your radar.”) Morningstar.com, May 2010.
AUXFX average annual returns (as of 6/30/2010 for the 1 year, 5 year and 10 year periods, 7/9/1999, were 12.99%, 1.97% and 5.79% respectively. The S&P 500 Index returns for same time periods were 14.43%, -0.79% and -1.59% respectively.)

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. For the most recent month-end performance, please call (877) 328-9437 or visit the Fund’s website. As stated in the current prospectus, the Fund’s annual operating expense ratio (gross) is 1.25%. The Fund’s adviser has contractually agreed to maintain the total annual operating expenses at 1.25% which is in effect until October 31, 201000. Fund charges a 2.0% redemption fee on shares redeemed within six months of purchase. Please refer to additional important disclosure at the end of this release.

The Auxier Difference–Statistics show that most mutual funds are underperforming the market (Time magazine April 20, 2009, SEC Staff speech, April 2, 2009). Many have managers who don’t invest in their own funds (Morningstar 6/16/2008) and many of those managers can only claim less than 10 years experience (Morningstar 6/2009). Contrary to that, Jeff Auxier’s 27 years of investment know-how has guided him through every market bump and bubble. He remains one of his fund’s largest shareholders, investing more than 2 million dollars (his entire personal retirement). He will not sell a single share while still manager, and recently lowered his fees to investors by 10 Basis Points[1] To 1.25% (gross). To learn more about the Auxier Focus Fund visit www.auxierasset.com.

Download a PDF of this release

Contact Information:

Shirley Hancock
(503) 781-4234
Shirley.Hancock@comcast.net

Lillian Widolff
(503) 885-8807 or 1 (800) 835-9556
lwidolff@auxierasset.com

Auxier Asset Management

5285 Meadows Road, Suite 333, Lake Oswego, Oregon 97035
(503) 885-8807 or 1 (800) 835-9556
Visit our website at: www.AuxierAsset.com

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by calling (877) 328-9437 or visiting the Fund’s website. Please read the prospectus carefully before you invest.

Fund returns (i) assume the reinvestment of all dividends and capital gain distributions and (ii) would have been lower during the period if certain fees and expenses had not been waived. Performance shown is for the Fund’s Investor Class shares; returns for other share classes will vary. Performance for Investor Class shares for periods prior to December 10, 2004 reflects performance of the applicable share class of Auxier Focus Fund, a series of Unified Series Trust (the “Predecessor Fund”). Prior to January 3, 2003, the Predecessor Fund was a series of Ameriprime Funds. The performance of the Fund’s Investor Class shares for the period prior to December 10, 2004 reflects the expenses of the Predecessor Fund.

The S&P 500 Index is a broad-based, unmanaged measurement of changes in stock market conditions based on the average of 500 widely held common stocks.

The Fund may invest in value and/or growth stocks. Investments in value stocks are subject to risk that their intrinsic value may never be realized and investments in growth stocks may be susceptible to rapid price swings, especially during periods of economic uncertainty. In addition, the Fund may invest in smaller companies which generally carry greater risk than is customarily associated with larger companies for various reasons such as narrower markets, limited financial resources and less liquid stock. Moreover, if the Fund’s portfolio is overweighted in a sector, any negative development affecting that sector will have a greater impact on the Fund than a fund that is not overweighted in that sector.

Foreside Fund Services, LLC, distributor.

2010 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For the period ended 3/31/2010, the Fund’s Overall Morningstar Rating was 5 stars. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for the Fund is derived from a weighted-average of the performance figures associated with its 3- 5- and 10 year Morningstar Rating metrics. As of 6/30/2010, the Fund was rated against the following numbers of U.S. domiciled Large Value funds over the following time periods: 1135 funds in the last three years, 952 funds in the last five years and 494 for last ten years. With respect to these Large Value funds, the Fund received a Morningstar Rating of 5 stars, 5 stars and 5 stars for the 3- 5- and 10 year periods, respectively. Past performance is no guarantee of future results. The Fund may have experienced negative performance during one or all of the time periods listed.

[1] A basis point can be summarized as follow: 1% change = 100 basis points. 0.01% = 1 basis point

Auxier Focus Fund Earned Another Wall Street Journal “Category King”; Recognized by Morningstar and Named Lipper Leader in 3 Categories

lwidolff — Fri, 01 May 2009 16:00:05 +0000

(as of 3/31/2009)

“The Next 12 To 18 Months Are Going To Be An Exciting Time For Shopping,” Says Jeff Auxier

May 2009, Lake Oswego, OR—The Auxier Focus Fund earned the Wall Street Journal’s Category Kings distinction again, this time for the 1st quarter of 2009. Morningstar Advisor magazine says the fund “has held up relatively well during the current bear market, too.” Auxier, with more than 25 years of investment experience in every market season, remains consistent in how he manages the fund, telling Morningstar Advisor that, as always, he seeks predictability. “We want to compound client money consistently, so we look for businesses with high degrees of consistency, without gimmicks,” Auxier says. His firm, Auxier Asset Management, like the 108 acre, profitable farm where he lives, is debt free. As he puts it, “This frees me to concentrate on the stewardship of my investors’ hard‐earned money, without conflicts or pressures of insolvency facing so many bigger firms today. I also have skin in the game—my entire personal retirement is on the line with my investors.” Here’s how the Auxier Focus Fund performed in the 1st quarter of 2009.

Wall Street Journal “Category King” March (Based on total return, Auxier Focus Fund ranked 4 out of 364 funds for the one year period as of 3/31/2009 in the Multi‐Cap Value Equity Funds category.
Wall Street Journal Source: Lipper. For Funds with multiple share classes, only the largest is shown. (As of 3/31/2009 Lipper’s Multi‐Cap Value classification received the following rankings: 5 out of 348 funds for the one year period; 5 out of 275 three year period; and 11 out of 210 for five year period.)
AUXFX Outperformed S&P 500 Index by 70.62 percentage points cumulative (AUXFX: 37.98%; S&P: negative (‐32.64%), total return, since inception 7/9/1999 and as of 3/31/2009)
Overall Lipper Leader for “Preservation” (Lipper’s Multi‐Cap Value classification, received the following ratings for the 3, 5 year and Overall periods, respectively: Lipper Leader among 9285, 7486 and 9285 Funds as of 03/31/09.
Overall Lipper Leader for “Total Return” (Lipper’s Multi‐Cap Value classification, received the following ratings for the 3, 5 year and Overall periods, respectively: Lipper Leader among 291, 226 and 291 Funds as of 03/31/09.
Overall Lipper Leader for “Consistent Return” (Lipper’s Multi‐Cap Value classification, received the following ratings for the 3 year and Overall periods, respectively: Lipper Leader among 284 and 286 Funds as of 03/31/09; Rated 4 out of 219 Funds for the 5 year period as of 03/31/09.
Overall 4 Star designation from Morningstar (Overall Morningstar rating as of 03/31/09 out of 968 Moderate Allocation Funds. Derived from a weighted average of the risk adjusted performance figure associated with the Fund’s 3‐ and 5‐ year Morningstar Rating metrics.)
AUXFX average annual returns (as of 3/31/2009 for the 1 year, 5 year and since inception (7/9/1999) were ‐24.08%, ‐1.15% and 3.36% respectively.)

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. For the most recent month‐end performance, please call (877) 328‐9437 or visit the Fund’s website. As stated in the current prospectus, the Fund’s annual operating expense ratio (gross) is 1.35%. The Fund’s adviser has contractually agreed to maintain the total annual operating expenses at 1.35% which is in effect until October 31, 2009. Fund charges a 2.0% redemption fee on shares redeemed within six months of purchase. Please refer to additional important disclosure at the end of this release.

The Auxier Focus Fund is founded and managed by Jeff Auxier who also manages Auxier AssetManagement, based in Oregon. Despite all the gloom on Wall Street, Auxier remains optimistic about what he believes will be “historic, generational buying opportunities” coming out of the world‐wide economic slump. He says, “We believe this is a great time for long term investors who ‘price’ their purchases to go shopping.” A serious student of market history, Auxier says, “Successful investors have historically sown the seeds of fortunes in economic downturns. I’ve waited for this opportunity my entire career.” (Note: There can be no guarantee of success with any technique, strategy, or investment. All investing involves risk, including the loss of principal.)

Download a PDF of this release

Contact Information:

Shirley Hancock
(503) 781-4234
Shirley.Hancock@comcast.net

Lillian Walker
(503) 885-8807 or 1 (800) 835-9556
lwalker@auxierasset.com

Auxier Asset Management

5000 SW Meadows Road, Suite 410, Lake Oswego, Oregon 97035
(503) 885-8807 or 1 (800) 835-9556
Visit our website at: www.AuxierAsset.com

For More Information On The Auxier Focus Fund Contact:
Auxier Asset Management LLC 5000 SW Meadows Rd., Suite 410 Lake Oswego, Oregon 97035
Phone: 1 (800) 835-9556
Email: info@auxierasset.com
Web: www.auxierasset.com

2009 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For the period ended 03/31/2009, the Fund’s Overall Morningstar Rating was 4 stars. For each fund with at least a three‐year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk‐Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for the Fund is derived from a weighted‐average of the performance figures associated with its 3‐ and 5‐year Morningstar Rating metrics. The Fund was rated against the following numbers of U.S. domiciled Moderate Allocation funds over the following time periods: 968 funds in the last three years and 799 funds in the last five years. With respect to these Moderate Allocation funds, the Fund received a Morningstar Rating of 4 stars and 4 stars for the 3‐ and 5‐year periods, respectively. Past performance is no guarantee of future results.

Lipper Leader ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class. Lipper Leader ratings for Total Return reflect fund’s historical total return performance relative to peers. Scores are subject to change every month and are calculated for the following periods: 3‐year, 5‐year, 10‐year, and Overall. The overall calculation is based on an equal‐weighted average of percentile ranks for each measure over 3‐year, 5‐year, and 10‐year periods (if applicable). For each measure, the highest 20% of funds in each peer group are named Lipper Leaders. The next 20% receive a rating of 4; the middle 20% are rated 3; the next 20% are rated 2, and the lowest 20% are rated 1. Lipper ratings are relative, rather than absolute measures, and funds named Lipper Leaders may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. The Auxier Focus Fund, in Lipper’s Multi‐Cap Value classification, received the following ratings as of 03/31/2009: Preservation (in Equity asset class) 3, 5‐year and Overall periods, respectively: Lipper Leader among 9285, 7486 and 9285 Funds). Total Return (in Equity asset class): Lipper Leader among 291, 226 and 291 Funds for 3 year, 5 year and Overall eriods, respectively. Consistent Return (in Equity asset class) 3 year and Overall periods: Lipper Leader among 284 and 286 respectively; 4 Rating out of 219 funds in 5 year period. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Lipper Leader Copyright 2008, Reuters, All Rights Reserved.

As of 3/31/09 the Fund’s top 10 holdings were: Wal‐Mart Stores (3.5%); Philip Morris International (2.4%); Marsh & McLennan Co. (2.2%); The Travelers Companies Inc. (2.1%); Dr. Pepper Snapple Group (2.1%); Coca-Cola Company (1.8%); Alliance One International (1.7%); Chevron Corp. (1.5%); Zimmer Holdings (1.5%); Wellpoint Inc. (1.5%).

Auxier Focus Fund Named Wall Street Journal “Category King” For Fourth Consecutive Month

lwidolff — Sun, 01 Feb 2009 16:00:56 +0000

(as of 12/31/08)

February 2009, Lake Oswego, OR—Even as the recession deepened, the Auxier Focus Fund has outperformed many of its peers. ”Twenty‐five years of hard research and managing money through difficult markets has helped our performance,” says Auxier. “The firm is debt free, and personally I am debt free, so we can concentrate on being stewards without conflicts or pressures of insolvency facing so many bigger firms today. I also have skin in the game—my entire personal retirement is on the line with my investors.”

Auxier Focus Fund Performance:

Wall Street Journal “Category King” Auxier Focus Fund ranked ninth out of 389 funds for the one year period ending December 31, 2008. Wall Street Journal Source: Lipper. For Funds with multiple share classes, only the largest is shown. (As of 12/31/08 Lipper’s Multi‐Cap Value classification received the following rankings: 12 out of 381 for the one year period, 9 out of 299 for the three year period and 28 out of 231 for the five year period.
AUXFX Outperformed S&P 500 Index by 71.52 percentage points cumulative (since inception 7/9/1999 and as of 12/31/2008)
Overall Lipper Leader for “Preservation” (Lipper’s MultiCap Value classification, received the following ratings for the 3, 5 year and Overall periods, respectively: Lipper Leader among 9240, 7428 and 9240 Funds as of 12/31/2008)
Overall Lipper Leader for “Total Return” (Lipper’s Multi‐Cap Value classification, received the following ratings for the 3, 5 year and Overall periods: Lipper Leader among 307, 238 and 307 Funds respectively, as of 12/31/2008)
Overall 4 Star designation from Morningstar (Overall Morningstar rating as of 12/31/2008 out of 962 Moderate Allocation Funds. Derived from a weighted average of the risk adjusted performance figure associcated with the Fund’s 3‐ and 5‐ year Morningstar Rating metrics.)
AUXFX average annual returns as of 12/31/2008 for the 1 year, 5‐year and since inception (7/9/1999) were ‐24.52%, 3.27% and 4.16%, respectively.

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. For the most recent month‐end performance, please call (877) 328‐9437 or visit the Fund’s website. As stated in the current prospectus, the Fund’s annual operating expense ratio (gross) is 1.35%. The Fund’s adviser has contractually agreed to maintain the total annual operating expenses at 1.35% which is in effect until October 31, 2009. Fund charges a 2.0% redemption fee on shares redeemed within six months of purchase. Please refer to additional important disclosure at the end of this release.

The Auxier Focus Fund is founded and managed by Jeff Auxier who also manages Auxier Asset Management, based in Oregon. Despite all the gloom on Wall Street, Auxier remains optimistic about what he believes will be “historic, generational buying opportunities” coming out of the world‐wide economic slump. A serious student of market history, Auxier says, “Successful investors have historically sown the seeds of fortunes in economic downturns. I’ve waited for this opportunity my entire career.” (Note: There can be no guarantee of success with any technique, strategy, or investment. All investing involves risk, including the loss of principal.)

Download a PDF of this release

Contact Information:

Shirley Hancock
(503) 781-4234
Shirley.Hancock@comcast.net

Lillian Walker
(503) 885-8807 or 1 (800) 835-9556
lwalker@auxierasset.com

Auxier Asset Management

5000 SW Meadows Road, Suite 410, Lake Oswego, Oregon 97035
(503) 885-8807 or 1 (800) 835-9556
Visit our website at: www.AuxierAsset.com

2008 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For the period ended 12/31/2008, the Fund’s Overall Morningstar Rating was 4 stars. For each fund with at least a three‐year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk‐Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for the Fund is derived from a weighted‐average of the performance figures associated with its 3‐ and 5‐year Morningstar Rating metrics. The Fund was rated against the following numbers of U.S. domiciled Moderate Allocation funds over the following time periods: 962 funds in the last three years and 768 funds in the last five years. With respect to these Moderate Allocation funds, the Fund received a Morningstar Rating of 4 stars and 4 stars for the 3‐ and 5‐year periods, respectively. Past performance is no guarantee of future results.

Lipper Leader ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class. Lipper Leader ratings for Total Return reflect fund’s historical total return performance relative to peers. Scores are subject to change every month and are calculated for the following periods: 3‐ year, 5‐year, 10‐year, and Overall. The overall calculation is based on an equal‐weighted average of percentile ranks for each measure over 3‐year, 5‐year, and 10‐year periods (if applicable).For each measure, the highest 20% of funds in each peer group are named Lipper Leaders. The next 20% receive a rating of 4; the middle 20% are rated 3; the next 20% are rated 2, and the lowest 20% are rated 1. Lipper ratings are relative, rather than absolute measures, and funds named Lipper Leaders may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. The Auxier Focus Fund, in Lipper’s Multi‐Cap Value classification, received the following ratings as of 12/31/2008: Preservation (in Equity asset class) 3, 5‐year and Overall periods, respectively: Lipper Leader among 9240, 7428 and 9240 Funds). Total Return (in Equity asset class): Lipper Leader among 307, 328 and 307 Funds for 3 year, 5 year and Overall periods, respectively. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Lipper Leader Copyright 2008, Reuters, All Rights Reserved.

As of 12/31/08, the Fund’s top 10 holdings were: Philip Morris International (2.4%); Wal Mart Stores (1.7%); Dr. Pepper Snapple Group (1.5%); The Travelers Companies Inc. (1.4%); Marsh & McLennan Co. (1.3% ; Unitedhealth Group Inc. (1.3%); Wellpoint Inc. (1.3%); Quest Diagnostics Inc. (1.2%); Coca‐Cola Company
(1.2%); Kraft Foods Inc. (1.1%).

Auxier Focus Fund Outperforms S&P 500 Index for 3rd Quarter 2008

lwidolff — Sat, 01 Nov 2008 16:00:11 +0000

Jeff Auxier Remains Optimistic About What He Believes Will Be “Historic Generational Buying Opportunities” Coming Out Of World-Wide Economic Earthquake

November 2008, Lake Oswego, OR—In the midst of what Alan Greenspan calls a “once in a century tsunami”, Auxier says “Successful investors have historically sown the seeds of fortunes in economic downturns,” he says. “I believe the smart investor will see historic, generational buying opportunities.” (Note: There can be no guarantee of success with any technique, strategy, or investment. All investing involves risk, including the loss of principal.) Auxier deliberately lives far from Wall Street’s pack mentality, on a 108 acre, profitable farm. That independence, his 25 years of investment experience, investing his entire personal retirement into his Fund, a company policy he will not sell shares while still manager, and his passion for relentless research, have always distinguished the Auxier Focus Fund.

AUXFX up 72.49%; S&P down 3.02% since inception 7/9/1999. (both are cumulative as of 9/30/2008).
AUXFX outperformed S&P as of 9/30/2008 and by 75.51 percentage points since inception (cumulative). (1 month–AUXFX -5.34 vs. S&P -8.91; 3 month—AUXFX -4.35 vs. S&P -8.02; 6 month—AUXFX -5.35 vs. S&P -7.08; 9 month—AUXFX -1.55 vs. S&P -8.37; YTD—AUXFX -11.56 vs. S&P -19.29; 1 year—AUXFX -11.95 vs. S&P -21.98; 3 year cumulative—AUXFX 6.97 vs. S&P 0.65; 5 year cumulative—AUXFX 35.12vs. S&P 28.66; since inception (7/9/1999) cumulative—AUXFX 72.49 vs. S&P -3.02.)
Overall Lipper Leader for “Preservation” (Lipper’s Multi-Cap Value classification, received the following ratings for the 3, 5 year and Overall periods, respectively: Preservation (in Equity asset class): Lipper Leader among 9122, 7301 and 9122 Funds as of 9/30/2008.
Overall Lipper Leader for “Total Return” (Lipper’s Multi-Cap Value classification, received the following ratings for the 3 year and Overall periods: Total Return (in Equity asset class): Lipper Leader among 318 Funds for 3 year and Overall periods as of 09/30/2008.)
Overall Lipper Leader for “Consistent Return” (Lipper’s Multi-Cap Value classification, received the following ratings for the 3 year and Overall periods, respectively: Consistent Return (in Equity asset class): Lipper Leader among 312 and 313 Funds as of 09/30/2008.)
Overall 4 Star designation from Morningstar (as of 9/30/2008 Moderate Allocation 5 year—69 ranking and 12th percentile out of 723 funds; 3 year—115 and 15th percentile out of 944 funds; 1 year—127 and 13th percentile out of 1,162 funds)
AUXFX average annual returns as of 09/30/2008 for the 1 year, 5-year and since inception (7/9/1999) were -11.95%, 6.21% and 6.09%, respectively.

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. For the most recent month-end performance, please call (877) 328-9437 or visit the Fund’s website. As stated in the current prospectus, the Fund’s annual operating expense ratio (gross) is 1.36%. However, the Fund’s adviser has agreed to contractually waive a portion of its fees and/or reimburse expenses such that total operating expenses do not exceed 1.35%, which is in effect until October 31, 2009. Fund charges a 2.0% redemption fee on shares redeemed within six months of purchase. Please refer to additional important disclosure at the end of this release.

The Auxier Difference

Eating His Own Cooking–A 2008 Morningstar survey of approximately 6,000 funds found that 46% of US stock funds have no manager ownership and that less than 32 managers (Morningstar only surveyed large families) had a million dollars in their funds. Jeff has invested his entire personal retirement—more than 2 million dollars–in his Fund and is committed to remaining one of the Fund’s largest shareholders. Every member of the Auxier Focus Fund team has a significant percentage of his or her personal retirement invested in AUXFX.
Stewardship—Prior to starting AUXFX, Jeff served as a member of the Chairman’s Council, Senior Vice President of Investments and Senior Portfolio Management Director for Smith Barney, where he initiated policies aimed at greater transparency and better serving client interests. Jeff has always insisted on providing full disclosure and transparency about the Auxier Focus Fund; remains accessible to his shareholders; and vows he will not sell a single share while still manager.
Compensation—Since founding Auxier Asset Mgt. and the Auxier Focus Fund, Jeff has never taken a bonus and chooses to keep his personal compensation below that of most of his peers.
Experience— While most fund managers have less than 5 years experience at the job, Jeff has 25 years guiding investors through the market’s many moods—the ’83 bubble, ’87 stock market crash, ‘90’s thrift crisis, ’93 Mexican peso crisis, ’98 Asian meltdown, the 2000-2002 tech/telecom crash and the 2008 global economic crisis. “We believe the benefit of our fairly conservative orientation becomes even more apparent in these difficult market conditions,” says Jeff.
Fund Size—Jeff prefers to manage one fund that is nimble, and can enjoy broad investment freedom. A super-sized fund is not our goal.
Awards For “Honor, Integrity and Knowledge”—Auxier is the recipient (1993) of the Consulting Group Bob Dwyer Award, which honors the Portfolio Manager whose “integrity, knowledge and commitment to the discipline of investment management exemplifies the highest standards.” Money magazine awarded Jeff their All-Star Broker Award two years in a row (1997 and 1998).
Lifestyle—Not far from the end of the Oregon Trail, you will find Auxier Farms, a 108 acre, profitable hazelnut, timber, cattle and wheat farm. Jeff intentionally lives and works here, far from the greed and pack-mentality of Wall Street. This perspective allows him to conduct the kind of independent thinking that is critical to his team’s goal of staying ahead of the pack—not chasing it. Jeff sees similarities in investing on Wall Street, life on the farm and on a 2,000 acre ranch in Central Oregon, which he shares with cougar, antelope and wild boar. Explains Jeff, “These jobs take extremely intense work and involve consideration of price, value, margin of safety and wise allocation of capital. This lifestyle keeps you humble and focused on the rewards of hard work. My job is a steward of investors’ hard-earned money. I can’t imagine doing anything else.”

Download a PDF of this release

Contact Information:

Shirley Hancock
(503) 781-4234
Shirley.Hancock@comcast.net

Lillian Walker
(503) 885-8807 or 1 (800) 835-9556
lwalker@auxierasset.com

Auxier Asset Management

5000 SW Meadows Road, Suite 410, Lake Oswego, Oregon 97035
(503) 885-8807 or 1 (800) 835-9556
Visit our website at: www.AuxierAsset.com

2008 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For the period ended 9/30/2008, the Fund’s Overall Morningstar Rating was 4 stars. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for the Fund is derived from a weighted- average of the performance figures associated with its 3- and 5-year Morningstar Rating metrics. The Fund was rated against the following numbers of U.S. domiciled Moderate Allocation funds over the following time periods: 944 funds in the last three years and 723 funds in the last five years. With respect to these Moderate Allocation funds, the Fund received a Morningstar Rating of 4 stars and 4 stars for the 3- and 5-year periods, respectively. Past performance is no guarantee of future results.

Lipper Leader ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class. Lipper Leader ratings for Total Return reflect fund’s historical total return performance relative to peers. Lipper Leader rating for Consistent Return reflects fund’s historic returns, adjusted for volatility, relative to peers. Scores are subject to change every month and are calculated for the following periods: 3-year, 5-year, 10-year, and Overall. The overall calculation is based on an equal- weighted average of percentile ranks for each measure over 3-year, 5-year, and 10-year periods (if applicable).For each measure, the highest 20% of funds in each peer group are named Lipper Leaders. The next 20% receive a rating of 4; the middle 20% are rated 3; the next 20% are rated 2, and the lowest 20% are rated 1. Lipper ratings are relative, rather than absolute measures, and funds named Lipper Leaders may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. The Auxier Focus Fund, in Lipper’s Multi-Cap Value classification, received the following ratings as of 09/30/2008: Preservation (in Equity asset class) 3, 5-year and Overall periods, respectively: Lipper Leader among 9122, 7301 and 9122 Funds). Total Return (in Equity asset class): Lipper Leader among 318 Funds for 3 year and Overall periods. Consistent Return (in Equity asset class): Lipper Leader among 312 and 313 Funds. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Lipper Leader Copyright 2008, Reuters, All Rights Reserved. As of 9/30/2008, the Fund’s top 10 holdings were: Wal Mart Stores (3.0%); Marsh & McLennan Co. (2.6%); Philip Morris International (2.0%); Dr. Pepper Snapple Group (2.0%); Zimmer Holdings (1.8%); The Travelers Companies Inc. (1.7%); Berkshire Hathaway Inc. Class B (1.6%); Coca-Cola Company (1.6%); Nike Inc Class B (1.6%); Dow Chemical Company (1.5%).

2008 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For the period ended 9/30/2008, the Fund’s Overall Morningstar Rating was 4 stars. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for the Fund is derived from a weighted- average of the performance figures associated with its 3- and 5-year Morningstar Rating metrics. The Fund was rated against the following numbers of U.S. domiciled Moderate Allocation funds over the following time periods: 944 funds in the last three years and 723 funds in the last five years. With respect to these Moderate Allocation funds, the Fund received a Morningstar Rating of 4 stars and 4 stars for the 3- and 5-year periods, respectively. Past performance is no guarantee of future results.

Lipper Leader ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class. Lipper Leader ratings for Total Return reflect fund’s historical total return performance relative to peers. Lipper Leader rating for Consistent Return reflects fund’s historic returns, adjusted for volatility, relative to peers. Scores are subject to change every month and are calculated for the following periods: 3-year, 5-year, 10-year, and Overall. The overall calculation is based on an equal- weighted average of percentile ranks for each measure over 3-year, 5-year, and 10-year periods (if applicable).For each measure, the highest 20% of funds in each peer group are named Lipper Leaders. The next 20% receive a rating of 4; the middle 20% are rated 3; the next 20% are rated 2, and the lowest 20% are rated 1. Lipper ratings are relative, rather than absolute measures, and funds named Lipper Leaders may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. The Auxier Focus Fund, in Lipper’s Multi-Cap Value classification, received the following ratings as of 09/30/2008: Preservation (in Equity asset class) 3, 5-year and Overall periods, respectively: Lipper Leader among 9122, 7301 and 9122 Funds). Total Return (in Equity asset class): Lipper Leader among 318 Funds for 3 year and Overall periods. Consistent Return (in Equity asset class): Lipper Leader among 312 and 313 Funds. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Lipper Leader Copyright 2008, Reuters, All Rights Reserved. As of 9/30/2008, the Fund’s top 10 holdings were: Wal Mart Stores (3.0%); Marsh & McLennan Co. (2.6%); Philip Morris International (2.0%); Dr. Pepper Snapple Group (2.0%); Zimmer Holdings (1.8%); The Travelers Companies Inc. (1.7%); Berkshire Hathaway Inc. Class B (1.6%); Coca-Cola Company (1.6%); Nike Inc Class B (1.6%); Dow Chemical Company (1.5%).

Farmer/Fund Manager Believes “Generational Buying Opportunities” Just Ahead

lwidolff — Fri, 01 Aug 2008 16:00:07 +0000

Auxier Focus Fund Outperformed The S&P 500 Index As Of July 31, 2008 And Since Inception; Jeff Auxier Continues Eating His Own Cooking, Refuses Personal Pay Raises And Bonuses; Morningstar Says, “This Mutual Fund Deserves More Attention…Investors Are In Good Hands.”

(See bullet points for Average Annual Returns as of 06/30/08)

August 2008, Lake Oswego, OR—Jeff Auxier believes Wall Street’s bleak headlines mask the next big—and historic—story: A generational buying opportunity for long term investors. “Patient investors live for these historic conditions,” says Auxier. “This is shaping up to be a really exciting time.” The founder and manager of Auxier Asset Mgt. and the 4 star Auxier Focus Fund, says prices are starting to hit his buy points. (The Overall Morningstar rating is 4 stars among 939 Moderate Allocations Funds as of 07/31/08. Derived from a weighted average of the risk-adjusted performance figure associated with its 3 and 5 year Morningstar Ratings metrics.) “We started buying in July much more aggressively than we have in a long time,” says Auxier. Years ago, Auxier, a devoted student of market history, predicted the current purging of disguised financial leverage, greed and easy money. He also forecasted a long-awaited chance to scoop up bargains left in the ruins of a global slowdown and unprecedented credit losses. Auxier deliberately lives far from Wall Street’s pack mentality, on a 118 acre farm (hazelnuts, cattle and wheat). That independence, his 25 years of investment experience, investing his whole retirement into his Fund, a company policy he will not sell shares while still manager, and his passion for relentless research, have always distinguished the Auxier Focus Fund.

AUXFX up 75.20%; S&P up 5.84% since inception 7/9/1999. (both are cumulative as of 6/30/2008)
AUXFX outperformed S&P as of 7/31/2008 and by 73.82 percentage points since inception (cumulative). (1 month–AUXFX 2.04 vs. S&P -0.84; 3 month—AUXFX -4.35 vs. S&P -8.02; 6 month—AUXFX -5.35 vs. S&P -7.08; 9 month—AUXFX -11.40 vs. S&P -16.89; CYTD—AUXFX -8.34 vs. S&P -12.65; 1 year— AUXFX -6.61 vs. S&P -11.09; 3 year cumulative—AUXFX 9.39 vs. S&P 8.81; 5 year cumulative—AUXFX 43.85 vs. S&P 40.44; since inception (7/9/1999) cumulative—AUXFX 78.77 vs. S&P 4.95.
Overall Lipper Leader for ”Preservation” (as of 7/31/2008, Lipper’s Multi-Cap Value classification, received the following ratings for the 3, 5 year and Overall periods, respectively: Preservation (in Equity asset class): Lipper Leader (9,043; 7,238; and 9,043 Funds.)
4 Star designation from Morningstar (as of 7/31/2008 Moderate Allocation 5 year—145 ranking and 25th percentile out of 706 funds; 3 year—432 and 56th percentile out of 939 funds; 1 year–517 and 55th percentile out of 1,134 funds)
AUXFX average annual returns as of 06/30/2008 for the 1 year, 5-year and since inception (7/9/1999) were -12.61%, 7.31% and 6.44%, respectively.

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. For the most recent month-end performance, please call (877) 328-9437 or visit the Fund’s website. As stated in the current prospectus, the Fund’s annual operating expense ratio (gross) is 1.36%. However, the Fund’s adviser has agreed to contractually waive a portion of its fees and/or reimburse expenses such that total operating expenses do not exceed 1.35%, which is in effect until October 31, 2008. Fund charges a 2.0% redemption fee on shares redeemed within six months of purchase. Please refer to additional important disclosure at the end of this release.

Headlines And Story Ideas From “The Auxier Report”

Wall Street Forgets Lessons From Enron, Again–Why many issues yielding 7-15% today are trading at junk levels, yet the ratings agencies still maintain A or better ratings. Enron had investment grade rating even after stock plunged from $80 to $3.
Buckle Up For Fast And Furious Changes In Financial Stocks—Many bank stocks have recently surpassed declines of last thrift crisis. In 1982 recession, stocks rebounded before economy was in the clear to the tune of 40% in just 90 days
Cool Warning On Energy-Related Investments—What we can learn from history and parabolic moves in an investment class marking the top of a mania.
“Generational Investment Opportunities”—How this period of punishing bad market behavior opens door to putting money to work on historic bargains.
An Oxymoron—“Safe” Government Bonds–Do they deserve their AAA bond credit rating?
How Consumers May Pay For Government Bailouts—Companies seeking price increases in excess of 20%
Believe It! The Consumer Recession Is Here

The Auxier Difference

Eating his own cooking–Jeff invests his entire personal retirement (more than 140,000 shares) into his own Fund and continues to contribute. Every member of the Auxier Focus Fund team has significant percentages of their personal retirement invested in AUXFX.
Stewardship—Vowed he will not sell a single share while still manager. Prior to starting AUXFX, Jeff served as a member of the Chairman’s Council, Senior Vice President of Investments and Senior Portfolio Management Director for Smith Barney, where he initiated policies aimed at greater transparency and better serving client interests.
Compensation—Since founding Auxier Asset Mgt. and the Auxier Focus Fund, Auxier has never taken a bonus and chooses to keep his personal compensation below that of most of his peers.
Experience— While most fund managers have less than 5 years experience at the job, Jeff has 25 years guiding investors through the market’s many moods—the ’83 bubble, ’87 stock market crash, ‘90’s thrift crisis, ’93 Mexican peso crisis, ’98 Asian meltdown, and the 2000-2002 tech/telecom crash. “We believe the benefit of our fairly conservative orientation becomes even more apparent in difficult market conditions,” says Jeff.
Fund Size–One fund, that is nimble with broad investment freedom. A super-sized fund is not our goal.
Awards For “Honor, Integrity and Knowledge”—Auxier is recipient (1993) of the Consulting Group Bob Dwyer Award, which honors the Portfolio Manager whose “integrity, knowledge and commitment to the discipline of investment management exemplifies the highest standards.” Money magazine awarded Jeff their All-Star Broker Award two years in a row (1997 and 1998).
Lifestyle—Auxier intentionally lives and works far from the greed and pack-mentality of Wall Street. At his 108 acre profitable farm and his nearby office, Jeff and his team are able to conduct the kind of independent thinking they feel is critical to their goal of staying ahead of the pack—not chasing it. Jeff sees similarities in investing and life on his 108 acre Oregon farm outside Portland, Oregon and a 2,000 acre ranch in Central Oregon, which he shares with cougar, antelope and wild boar. “Both jobs take extremely intense work and involve consideration of price, value, margin of safety and wise allocation of capital. This lifestyle keeps you humble and focused on the rewards of hard work. For me, this job is a steward of investors’ hard-earned money. I can’t imagine doing anything else.”

Download a PDF of this release

Contact Information:

Shirley Hancock
(503) 781-4234
Shirley.Hancock@comcast.net

Lillian Walker
(503) 885-8807 or 1 (800) 835-9556
lwalker@auxierasset.com

Auxier Asset Management

5000 SW Meadows Road, Suite 410, Lake Oswego, Oregon 97035
(503) 885-8807 or 1 (800) 835-9556
Visit our website at: www.AuxierAsset.com

2008 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For the period ended 07/31/2008, the Fund’s Overall Morningstar Rating was 4 stars. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for the Fund is derived from a weighted- average of the performance figures associated with its 3- and 5-year Morningstar Rating metrics. The Fund was rated against the following numbers of U.S. domiciled Moderate Allocation funds over the following time periods:939 funds in the last three years and 706 funds in the last five years. With respect to these Moderate Allocation funds, the Fund received a Morningstar Rating of 3 stars and 4 stars for the 3- and 5-year periods, respectively. Past performance is no guarantee of future results.

Lipper ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class, as of 7/31/2008. The ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Preservation metric over three-, .five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Preservation, the next 20% receive a score of 4, the middle 20% are scored 3, and the next 20% are scored 2, and the lowest 20% are scored 1. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. The Auxier Focus Fund, in Lipper’s Multi-Cap Value classification, received the following ratings for the 3- and 5-year periods, respectively: Preservation (in Equity asset class): Lipper Leader (9043 funds), and Lipper Leader (7238 funds). Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Lipper Leader Copyright 2007, Reuters, All Rights Reserved.

The Fund’s top ten holdings as of 6/30/2008: Wall-Mart Stores, Inc. (2.5%); Travelers Companies, Inc. (2.4 %); Telefonos De Mexico SA Sp ADR (2.0%); Zimmer Holdings, Inc. (2.0%); Alliance One Int’l, Inc. (1.9%); Marsh & McLennan Companies, Inc. (1.9%); Western Union Company (1.8%); Coca-Cola Co. (1.7%); Berkshire Hathaway Inc. C1-B (1.7%); Unum Group (1.7%) .

Even Without Full Exposure (70%) Auxier Focus Fund Has Outperformed S&P; Manager Invests His Entire Personal Retirement Into Fund

lwidolff — Fri, 01 Feb 2008 16:00:43 +0000

(Cumulative, as of 12/31/2007, since inception. See bullet points.)

AUXFX Founder, Jeff Auxier Says Now More Than Ever Investors Need to Ask Fund Managers, “Is Your Money On The Line With Mine?”

February 2008, Lake Oswego, OR—Like the famous Oregon rain clouds hovering over Auxier Farms, stormy skies on Wall Street don’t have Jeff Auxier running for cover. Instead Wall Street’s farmer/fund manager is forecasting “outstanding bargains” for the wise investor. He should know. While most fund managers have less than 5 years experience at the job, Jeff has 25 years guiding investors through the ’83 bubble, ’87 stock market crash, ‘90’s thrift crisis, ’93 Mexican peso crisis, ’98 Asian meltdown, and the 2000-2002 tech/telecom crash. “We believe the benefit of our fairly conservative orientation becomes even more apparent in difficult market conditions,” says Jeff.

How This Bubble Correction Compares–“It looks very similar to the thrift crisis that contributed to the 1991-91 recession,” says Jeff. Excessive and sloppy lending in commercial real estate, leveraged buyouts and housing led to losses that equate to roughly $250 billion in today’s dollars. Jeff expects the current correction to be smaller and shorter. Here’s the Auxier Focus Fund performance as of 12/31/07 and since inception 7/9/99, unless otherwise indicated:

Auxier Focus Fund is up 95.04% (cumulative)
Even without full exposure (70%) AUXFX has outperformed the S&P by 74.89 percentage points, a nearly fivefold advantage. (Equity portion since inception averages less than 70% of portfolio; cumulative performance; average quarterly equity exposure of portfolio).
Top 23 percentile 135 out of 698 for Morningstar rating for the 5-year period as of 12/31/207 (Morningstar Moderate Allocation 1-year period, 53% 501 out of 1103, and 3- year period 51% 346 out of 894, based on average annual total returns)
Overall Lipper Leader for “Preservation” (as of 12/31/2007; Lipper’s Multi-Cap Value classification, received the following ratings for the 3-, 5-year and Overall periods, respectively: Preservation (in Equity asset class): Lipper Leader (8775, 7202 and 8775 Funds).
1 year annualized return is up 1.34% while S&P is down -2.86, peer group is down -6.35% (as of 1/31/2007; Marketwatch/Lipper Multi-Cap Value)
For the period ending 12/31/07, the Fund’s average annual returns for the 1, 3, and 5-year and since inception (7/9/1999) periods were 5.71%, 7.30%, 11.64% and 8.20% respectively.

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. For the most recent month-end performance, please call (877) 328-9437 or visit the Fund’s website. As stated in the current prospectus, the Fund’s annual operating expense ratio (gross) is 1.36%. However, the Fund’s adviser has agreed to contractually waive a portion of its fees and/or reimburse expenses such that total operating expenses do not exceed 1.35%, which is in effect until October 31, 2008. Fund charges a 2.0% redemption fee on shares redeemed within six months of purchase. Please refer to additional important disclosure at the end of this release.

Headlines And Story Ideas From “The Auxier Report”

Food Inflation—Fundamentals for farm machinery, fertilizer, railroads and grocers are improving at an impressive rate. Recently we saw prices for certain varieties of NW wheat exceed $13 dollars a bushel. China’s food inflation was running 18% annualized as of November. Biofuels are projected to take crop-based fuel from roughly 7 billion gallons annually to 36 billion by 2022, driving up pricing for grains. Wheat stocks are at 60 year low.

Bond Yields—Often times when investments feel good, the risk is in fact highest and income-oriented just may be “missing the mark.” Jeff, an avid student of market history, points to the Weimer Republic in Germany when fixed income pensioners were wiped out. Jeff cautions, “as a bondholder it can’t be too reassuring that your Federal Reserve Chief has a nickname, ’Helicopter Ben’. Will he flood the economy with helicopters of money?”

Where To Invest—Prior to the 1991-92 downturn, Jeff positioned his clients in large industry leading, self funding multinational corporations flush in free cash flow. In hindsight, this proved a good place to invest while the credit problems were being cleansed. He favors these businesses now, especially as lending standards tighten.

Repricing Risk—The market appears to be repricing risk. Spreads on high-yield bonds have risen from a low of 2.3 percentage points back in June to over 6 points lately (as of 12/31/2007). Market declines of 20% happen on average once every four years and can be viewed as an opportunity to buy solid merchandise from panicked sellers.

Survival Kit—Humility; a rational and unemotional approach; voracious and persistent research of all facts and fundamentals; scrupulous attention to the potential downside of every decision; and respect for the most powerful (and ignored) tool in investing: the power of compounding.

The Auxier Difference

Eating his own cooking–Jeff invests his entire personal retirement (more than 140,000 shares) into his own Fund and continues to contribute. Every member of the Auxier Focus Fund team has significant percentages of their personal net worth invested in AUXFX.
Stewardship—Vowed he will not sell a single share while still manager. Prior to starting AUXFX, Jeff served as a member of the Chairman’s Council, Senior Vice President of Investments and Senior Portfolio Management Director for Smith Barney, where he initiated policies aimed at greater transparency and better serving client interests.
Compensation—Since founding Auxier Asset Mgt. and the Auxier Focus Fund, Auxier has never taken a bonus and chooses to keep his personal compensation below that of most of his peers.
Experience—For 25 years, Jeff has guided his investors through every variety of market bump and bubble. He feels his relatively conservative approach especially shines when the market is rife with fear and greed.
Fund Size–One fund, that is nimble with broad investment freedom. A super-sized fund is not our goal.
Awards For “Honor, Integrity and Knowledge”—Auxier is recipient (1993) of the Consulting Group Bob Dwyer Award, which honors the Portfolio Manager whose “integrity, knowledge and commitment to the discipline of investment management exemplifies the highest standards.” Money magazine awarded Jeff their All-Star Broker Award two years in a row (1997 and 1998).
Lifestyle—Auxier intentionally lives and works far from the greed and pack-mentality of Wall Street. At his 108 acre profitable farm and his nearby office, Jeff and his team are able to conduct the kind of independent thinking they feel is critical to their goal of staying ahead of the pack—not chasing it. Jeff sees similarities in investing and life on his 108 acre Oregon farm outside Portland, Oregon and a 2,000 acre ranch in Central Oregon, which he shares with cougar, antelope and wild boar. “Both jobs take extremely intense work and involve consideration of price, value, margin of safety and wise allocation of capital. This lifestyle keeps you humble and focused on the rewards of hard work. For me, this job is a steward of investors’ hard-earned money. I can’t imagine doing anything else.”

Download a PDF of this release

Contact Information:

Shirley Hancock
(503) 781-4234
Shirley.Hancock@comcast.net

Lillian Walker
(503) 885-8807 or 1 (800) 835-9556
lwalker@auxierasset.com

Auxier Asset Management

5000 SW Meadows Road, Suite 410, Lake Oswego, Oregon 97035
(503) 885-8807 or 1 (800) 835-9556
Visit our website at: www.AuxierAsset.com

Lipper ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class, as of 12/31/2007. The ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Preservation metric over three-, .five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Preservation, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. The Auxier Focus Fund, in Lipper’s Multi-Cap Value classification, received the following ratings for the 3- and 5-year periods, respectively: Preservation (in Equity asset class): Lipper Leader (8775 funds), and Lipper Leader (7202 funds). Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Lipper Leader Copyright 2007, Reuters, All Rights Reserved.

The Fund’s top ten holdings as of 12/31/2007 were: Coca-Cola (2.9%); AGCO Corp. (2.6%); Travelers Companies, Inc. (2.6%); Altria Group, Inc.(2.3%); Wal-Mart Stores Inc. (2.1%); Berkshire Hathaway Inc. C1-B (2.1%); Marsh & McLennan Companies, Inc. (1.9%); Western Union Company (1.9%); Telefonos De Mexico SA Sp ADR (1.9%) and Unum Group (1.7%)

The “Easy Money Party Hangover” Hits Wall Street—While Others Panic, Jeff Auxier’s Auxier Focus Fund Seeks to Swoop in on “Fire Sale Prices”

lwidolff — Sat, 01 Sep 2007 16:00:14 +0000

“This Fund Sports An Outstanding 5-Year Performance Record,” Says Morningstar

September 2007, Lake Oswego, OR—Panic. Fear. Distress. Just the market environment Jeff Auxier has been waiting for. “These are precisely the conditions where we love to put money to work,” says Auxier, founder and manager of the Auxier Focus Fund and Auxier Asset Management (AAM). Financial hangovers ache just like the other kind, unless you’ve patiently watched the party from the side lines—stone-sober. Auxier has been waiting for an “inflection point” in the market, which he now believes is here. Revelers from the easy money party are stumbling home with one massive hangover. But Auxier is preparing to swoop in on what he believes will be post-party “fire sale prices” and potential investment opportunities. First, the Auxier Focus Fund’s performance:

Up 100.36% since inception (cumulative performance, 7/9/1999-6/30/2007)
Beaten the S&P by 78.54 percentage points since inception (7/9/1999-6/30/2007)
Outperformed the S&P 500 Index, 56 out of 84 rolling 12 month periods 66.67% of the time (7/9/1999-6/30/2007)

(For the period ending 6/30/2007, the Fund’s average annual returns for the 1-, 3- and 5-year and since inception (7/9/1999) periods were 11.25% %, 8.71%, 8.70% and 8.50 %, respectively. Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. For the most recent month-end performance, please call (877) 328-9437 or visit the Fund’s website. As stated in the current prospectus, the Fund’s annual operating expense ratio (gross) is 1.36%. However, the Fund’s adviser has agreed to contractually waive a portion of its fees and/or reimburse expenses such that total operating expenses do not exceed 1.35%, which is in effect until October 31, 2007. Fund charges a 2.0% redemption fee on shares redeemed within six months of purchase. Please refer to additional important disclosure at the end of this release.)

Beaten 91% of the funds in Morningstar’s Moderate Allocation Category for 5 year period (Period ending 6/30/2007, the Fund’s 5, 3, and 1 year Morningstar rankings are, respectively, 46 out of 656 funds,157 out of 875 funds and 12 out of 1067 funds. Morningstar rankings are based on a fund’s total return performance. Past performance is not an indicator of future results)
Top 2% for 1 year and 9% for 5 year in Morningstar’s Moderate Allocation Category (6/30/2007).
Lipper Leader for Preservation (Out of 852 Multi-Cap Value funds. Period ending 6/30/2007). A Lipper Leader for Preservation is a fund demonstrating a superior ability to preserve capital in a variety of markets when compared with its asset class-equity, mixed equity, or fixed-income funds.)
5 Stars Designation From Morningstar Which Calls Fund “Distinctive And Appealing” (Overall Morningstar Rating^TM as of 6/30/2007 out of 875 Moderate Allocation Funds. Derived from a weighted average of the risk-adjusted performance figure associated with the fund’s 3- and 5-year Morningstar Rating metrics.)
Manager Invests His Entire Personal Retirement Into His Own Fund and made it company policy that he will not sell a single share while still manager.

“When prices hit what we deem the magic mark, we like to be the vultures, not the road kill,” says Auxier, who has 25 years of experience in the investment field. Auxier is forecasting a period of much greater volatility. Over 30 private equity buy-outs recently have struggled with financing, harkening back to the junk bond boom of the late 1980’s. There is rapid, unregulated worldwide growth of structured finance and derivatives—the total outstanding volume of credit derivative contracts doubled in 2006 (American Banker). But as lenders tighten, Auxier believes “there is the potential for long term capital appreciation coming out of these periods of financial distress”. (After the 1990’s thrift crisis, many solid banks could be purchased for 50% of book value or below.)

Headlines And Story Ideas From The Latest Auxier Report

“Fire Sale” Opportunities From The ”Easy-Money Party Hangover”– We are currently finding value in the largest 100 companies in US and Europe. Price/earnings ratios are often 30% to 40% cheaper compared to small companies. As credit tightens and accumulated debt unwinds, we are refocusing on companies that are self-funding. Enduring companies with strong balance sheets will gain favor as greed is replaced with fear and despair. Investors should focus on more sober fundamental analysis and refocus on cash flow, not asset appreciation. Tighter money can benefit
attractively priced blue chip stocks.

“Can You Hear Me Now?”– Besides the blue chip stocks, we are finding attractive opportunities in foreign telecom issues. They enjoy relatively stable cash flows and dominant market positions. More than 42 countries have only one such carrier.

One Of The Best Business Models In The World–Western Union has a 17% share of the global money transfer market and its largest network, with over 300,000 agent locations in 200 countries. The proliferation of point-to-point service locations creates network economics, whereby the larger the number of users, the more valuable the service becomes. This is similar to eBay, where the value of its auction network is directly proportional to the number of users of the service. Each time Western Union opens a new store, the return on capital of every store in its network increases because each store has gained a new point of distribution. Over the long run, the company with the most points of distribution
wins.

Money Grows On The Farm– A farmer and rancher, Auxier has witnessed many crop cycles and says right now, agriculture is enjoying some of the best fundamentals in over 30 years. The Chairman of Nestle SA says, “We are sitting on structural changes that will affect agricultural prices for a long time to come.” Food accounts for 30% of the consumer price index in China. New US regulations due to food quality issues will push up prices.

The Pinnacle In Easy Money Mania And One Of Lowest Risk Premiums In History–All classes of home lending will suffer from credit tightening due to the sub prime mortgage fiasco. Lack of discipline is evidence in the low-quality corporate bond market. We are seeing the pinnacle in easy money mania as, in June, the spreads between high quality and low quality corporate bonds narrowed to 2.6 percentage points (Thomson Financial)–one of the lowest risk premiums in history. Many corporate bond investors will be hurt because of huge supply of bonds being issued and reappraisal in risk. Nationally, the inventory of unsold new homes is the highest in 16 years. From 1890 to 1990 the
average annual return on housing, adjusted for inflation was a big fat zero (Case-Shiller Index).

“Far And Away The Strongest Global Economy I’ve Seen In My Lifetime”—So observes US Treasury Secretary Hank Paulson. US Infrastructure build-outs in rapidly growing emerging markets are fueling price pressures for metals, oil and raw materials. A demand from a growing global middle class and legislatively mandated biofuels has led to a 23% rise in food prices (International Monetary Fund). Already it is estimated that 20% of the US corn crop is required to produce just 3% of the domestic gasoline supply.

Low-Risk Avenues To Play Favorable Pricing–Two years ago we bought Canadian government bonds to get paid in cash while also benefiting from the currency boost of a commodity-based economy. More recent names have included AGCO (60% market share in Brazil’s tractor market) and Alliance One International (a duopoly on leaf tobacco).

Torrid Pace Of Deal Making–One factor responsible for the market’s rebound after February’s sell off. Many Private equity and Leveraged Buyout (LBO) firms remain flush with record levels of cash and have been putting their money to work in increasingly large deals. Low interest rates have served as a powerful tonic in the deal-making frenzy, providing cheap financing and ample liquidity.

Why We Like Spin-Offs–There is greater focus on the core business, alignment of managerial incentives with operating company fundamentals and improved transparency for research analysts. But perhaps the most powerful force in propelling the shares of spin-off firms higher is the focusing of entrepreneurial energy. Research from Lehman Brothers found that spin-offs from the top 1,500 U.S. stocks by market value outperformed the S&P 500 by an average of 18% from 1990 to 2005.

Power Of Compounding–USA Today recently listed the top 25 performing stocks over the past 25 years. The top five collectively achieved over a 33,000% return over the period, showing the benefits of high compounded rates of return. How easy, and costly, it can be to spend valuable research time on unknowable macro forecasts. Business ownership and understanding what builds value over the long term is our focus at AAM. The more we know the characteristics and
operating habits of successful operators, the greater the conviction to hold through difficult market conditions. As Warren Buffett once remarked, “The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.”

Unchanging Philosophy–We believe the best way to value a business is to assess whether we would buy it at current prices if we were a private buyer. We feel this instills a far more disciplined mindset for purchasing company assets, in contrast to many stock market participants who view a stock as a short-term piece of paper to be traded at whim. Our stepped up purchases of First Data Corporation (FDC) last year illustrates this point. (See The Auxier Report for more.) At the time of purchase, FDC derived its revenues from two principle lines of business: credit card transaction processing, at which it is the industry leader, and money transfers through its Western Union brand. FDC shares traded at below market multiples throughout much of 2005 and 2006. Investors were concerned that banking consolidation would result in reduced pricing leverage for its card processing and that rising competition would crimp margins within Western Union. In addition, investors grew weary of Western Union when new immigration legislation prompted fears that immigrants would curb their usage of money transfers. Shares of FDC sold off as a result, and we aggressively added to the Fund’s position.

The Auxier Difference

Stewardship—Redefining “eating your own cooking,” Jeff Auxier invests a large portion of his personal retirement into his own Fund. How many fund managers can say that? Jeff believes every manager should have a substantial stake in their own fund. In addition, Jeff is committed to remaining one of the larger shareholders; he initiated company policy he won’t sell a single share while still manager; and he requested and volunteers his AIMR auditing results showing performance back to 1989. The Auxier family has assets in Auxier Asset Mgt. and every member of the Auxier team has significant percentages of their personal net worth invested in the Auxier Focus Fund.
Experience And Performance—The average mutual fund manager has 5 years of experience. Jeff has 25 years of guiding investors through many market conditions. Prior to starting his own fund, Jeff served as a member of the Chairman’s Council, Senior Vice President of Investments and Senior Portfolio Management Director for Smith Barney, where he formed policies aimed at greater transparency and better serving client interests. Morningstar says of the Auxier Focus Fund, “This Fund sports an outstanding record!” (see AuxierAsset.com)
Investment Philosophy—A long term, enduring outlook, with a focus on value investing and performance while seeking to take on less risk. We believe the power of compounding is the most powerful tool for any investment plan.
Awards For Honor, Integrity and Knowledge”–Jeff is recipient of the Consulting Group Bob Dwyer Award, which honors the Portfolio Manager whose “integrity, knowledge and commitment to the discipline of investment management exemplifies the highest standards.” Money magazine awarded Jeff their All-Star Broker Award 2 years in a row in 1997 and 1998.
Relentless Research—This is our passion. The Auxier team exercises a highly disciplined approach to performance and is committed to the daily, grind-it-out research it takes to maintain that performance in all market climates.
Boutique Fund Size—Nimble, with freedom to navigate the entire investment universe. A super-sized fund is not our goal.
Lifestyle—Jeff intentionally lives and works far from the greed and pack-mentality of Wall Street. At his 108 acre profitable farm and his nearby office, Jeff and his team are able to conduct the kind of independent thinking that they feel keeps them ahead of the pack, not chasing it. Jeff sees similarities in investing and life on his Oregon farm outside Portland, Oregon and his 2,000 acre ranch in Central Oregon. “All take extremely hard work and involve consideration of price, value, margin of safety and wise allocation of capital. This lifestyle keeps you humble and focused on the rewards of hard work. For me, this job is a steward of investors’ hard-earned money. I can’t imagine doing anything else.”

Download a PDF of this release

Contact Information:

Shirley Hancock
(503) 781-4234
Shirley.Hancock@comcast.net

Lillian Walker
(503) 885-8807 or 1 (800) 835-9556
lwalker@auxierasset.com

Auxier Asset Management

5000 SW Meadows Road, Suite 410, Lake Oswego, Oregon 97035
(503) 885-8807 or 1 (800) 835-9556
Visit our website at: www.AuxierAsset.com

For More Information On The Auxier Focus Fund Contact: Auxier Asset Management LLC 5000 SW Meadows Rd., Suite 410 Lake Oswego, Oregon 97035 Phone: 800.835.9556 email: info@auxierasset.com Web: www.auxierasset.com

As a non-diversified fund, the Fund will be subject to substantially more investment risk and potential for volatility than a diversified fund because its portfolio may at times focus on a limited number of companies. Moreover, if the Fund’s portfolio is overweighted in a sector, any negative development affecting that sector will have a greater impact on the Fund than a fund that is not overweighted in that sector.

Price/earnings ratio is the value of a company’s stock price relative to company earnings.

2007 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For the period ended 06/30/2007 the Fund’s Overall Morningstar Rating™ was 5 4 stars. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for the Fund is derived from a weighted-average of the performance figures associated with its 3- and 5-year Morningstar Rating metrics. The Fund was rated against the following numbers of U.S.-domiciled Moderate Allocation funds over the following time periods: 875 funds in the last three years and 656 funds in the last five years. With respect to these Moderate Allocation funds, the Fund received a Morningstar Rating of 4 stars and 5 stars for the 3- and 5-year periods, respectively. Past performance is no guarantee of future results.

Lipper Leader rankings do not imply a guarantee of future investment returns and a Lipper Leader does not necessarily imply that a fund had the best performance in its category. Choosing a Lipper Leader for Preservation may help to minimize downside risk relative to other fund choices in the same asset class. Investors are cautioned that equity funds have historically been more volatile than mixed equity or fixed income funds and that even Lipper Leaders for Preservation in more volatile asset classes may not be well-suited to shorter-term goals or less risk-tolerant investors. The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Preservation metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leaders, the next 20% receive a score of 2, the middle 20% are scored 3, the next 20% are scored 4, and the lowest 20% are scored 5. The Auxier Focus Fund in Lipper’s Science and Multi- Cap Value classification, received the following ratings for 3-, 5- year and Overall time periods, respectively: “Preservation” Lipper Leader received a 1 rating for each time period (among 852, 677 and 852 funds).

As of 07/31/2007, the Fund’s top ten holdings were: Travelers Companies Inc. (3.0%); Coca- Cola Co. (2.8%); Alliance One Intl. Inc. (2.4%); Marsh & McLennan Cos Inc. (2.3%); Wal-Mart Stores Inc. (2.0%); Citigroup, Inc. (2.0%); Dow Chemical Co. (1.8%); Unum Group (1.8%); Telefonos De Mexico SA Sp ADR (1.8%) and Western Union Co. (1.7%)