Performance and Disclosure Information

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. Fund returns assume the reinvestment of all dividends and capital gain distributions.  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.  As stated in the current prospectus, the Investor Class Share’s annual operating expense ratio (gross) is 1.10%.  The Adviser has contractually agreed to waive a portion of its fee/or and reimburse Fund expenses to limit Total Annual Fund Operating Expenses to 0.92% through October 31, 2024.  Other share classes may vary. The Fund charges a 2.0% redemption fee on shares redeemed within six months of purchase. Returns shown for less than six months do not reflect the 2.0% redemption fee.

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 from this website or by calling (877) 328-9437. Please read the prospectus carefully before you invest.

Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security. The Fund may invest in value stocks, which are subject to risk that their intrinsic value may never be realized, and growth stocks, which may be susceptible to rapid price swings. Investments in mid-sized companies generally carry greater risk than is customarily associated with larger companies. Moreover, if the Fund’s portfolio is over-weighted in a sector, any negative development affecting that sector will have a greater impact on the Fund than a fund that is not over-weighted in that sector. An increase in interest rates typically causes a fall in the value of a debt security (Fixed-Income Securities Risk) with corresponding changes to the Fund’s value. Foreign securities are subject to additional risks including international trade, currency, political, regulatory and diplomatic risks.

Returns shown are for Investor shares only; other share class returns may vary. Some of the Fund’s fees were waived or expenses reimbursed; otherwise, returns would have been lower. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’’ tax situation and may differ from those shown. Actual after-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. The S&P 500 Index is a broad-based, unmanaged measurement of changes in stock market conditions based on 500 widely held common stocks. The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the Nasdaq. The Wilshire 5000 Total Market Index is a broad-based market capitalization-weighted index composed of 3,451 publicly traded companies that meet the following criteria:1 The companies are headquartered in the United States. The stocks are listed and actively traded on a U.S. stock exchange. The Nasdaq Composite Index is the market capitalization-weighted index of over 2,500 common equities listed on the Nasdaq stock exchange. One cannot invest directly in an index.

The companies identified and discussed in materials on this website do not represent all of the investments made or recommended by AAM.  It should not be assumed that recommendations made in the future will be profitable or will equal the performance of securities discussed on this website. A list of all recommendations made within the immediately preceding 12 months is available on request.

Mr. Auxier was named one of the top-10 brokers in the country (1997 and 1998) by Money magazine. Money’s All Star Brokers were selected based on the following:  Survey was created and conducted by Junius Ellis, writer for Money.   He asked industry professionals to nominate brokers at firms other than their own.  Candidates had to be willing to take new accounts of $150,000 or less, to have records clear of disciplinary or other disclosure events (FINRA), to display attributes (subjective and determined by the writer for the publication) such as accountability and independent thinking.    Additionally, those listed as All Stars customarily base their recommendations on their own independent research, personally own the stocks on their buy lists, avoid selling most brokerage products (“whose gold-plated fees can weigh down client’s returns”) and give commission discounts to regular customers.   From there, Mr. Ellis made his final selection of Money’s All Star Brokers based solely on the returns of the stock selections submitted by the brokers.  Stocks of all categories were considered.  Brokers participating did not pay a fee to participate.  The All Star Broker rating is not indicative of future performance

Book value is total assets minus total liabilities.

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business.

Discount to Book is when a security is trading below book value.

The dividend yield, expressed as a percentage, is a financial ratio (dividend/price) that shows how much a company pays out in dividends each year relative to its stock price.

Earnings per share (EPS) is calculated as a company's profit divided by the outstanding shares of its common stock.

Free cash flow (FCF) represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets.

IPO, initial public offering, refers to the process of offering shares of a private corporation to the public in a new stock issuance.

Margin of safety - Buying with a “margin of safety,” a phrase popularized by Benjamin Graham and Warren Buffet, is when a security is purchased for less than its estimated value. This helps protect against permanent capital loss in the case of an unexpected event or analytical mistake. A purchase made with a margin of safety does not guarantee the security will not decline in price.

The Nikkei is short for Japan's Nikkei 225 Stock Average, the leading and most-respected index of Japanese stocks. It is a price-weighted index composed of Japan's top 225 blue-chip companies traded on the Tokyo Stock Exchange. The Nikkei is equivalent to the Dow Jones Industrial Average (DJIA) Index in the United States.

The Dow is The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the Nasdaq.

The Nasdaq Composite Index is the market capitalization-weighted index of over 2,500 common equities listed on the Nasdaq stock exchange.

The price-to-book ratio (P/B ratio) is used to compare a firm's market capitalization to its book value. It's calculated by dividing the company's stock price per share by its book value per share (BVPS).

PE is the price-to-earnings ratio (P/E ratio),  the ratio for valuing a company that measures its current share price relative to its per-share earnings (EPS).

Return on equity (ROE) is a measure of financial performance calculated by dividing net income by shareholders' equity. Because shareholders' equity is equal to a company’s assets minus its debt, ROE is considered the return on net assets. ROE is considered a measure of the profitability of a corporation in relation to stockholders’ equity.

Return on invested capital (ROIC) is the amount of money a company makes that is above the average cost it pays for its debt and equity capital.

Return on capital (ROC) measures a company's net income relative to the sum of its debt and equity value.

SPACs, A special purpose acquisition company, is formed to raise money through an initial public offering to buy another company.

Capital expenditures (CapEx) are funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technology, or equipment.

The shadow banking system describes financial intermediaries that participate in creating credit but are not subject to regulatory oversight.

The Fed refers to The Federal Reserve System (FRS) and is the central bank of the United States.

Reshoring is the process of returning the production and manufacturing of goods back to the company's original country.