Hypothetical Growth of a $10,000 Investment Since Inception
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This chart illustrates the performance of a hypothetical $10,000 investment made in the Fund and its benchmark, the MSCI Emerging Markets Index, since inception through April 30, 2012. It assumes reinvestment of dividends and capital gains, but does not reflect the effect of any applicable redemption fees. This chart does not imply future performance.
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Average Annual Returns as of April 30, 2012
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YTD |
1Yr |
3Yrs |
5Yrs |
10Yrs |
Since Inception (6/28/10) |
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TW Emerging Markets Fund
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12.00%
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-11.94%
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N/A
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N/A
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N/A
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8.48%
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MSCI Emerging Markets Index
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12.71%
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-12.61%
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N/A
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N/A
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N/A
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6.82%
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Average Annual Returns as of the Most Recent Quarter End - March 31, 2012
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1st Qtr |
YTD |
1Yr |
3Yrs |
5Yrs |
10Yrs |
Since Inception (6/28/10) |
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TW Emerging Markets Fund
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13.08%
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13.08%
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-8.52%
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N/A
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N/A
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N/A
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9.50%
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MSCI Emerging Markets Index
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14.08%
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14.08%
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-8.81%
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N/A
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N/A
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N/A
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7.89%
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Performance data is based upon past performance, which is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted. Please call 1-800-811-0535 to obtain performance data as of the most recent month-end. The Fund imposes a 2% redemption fee on share held less than 60 days. Performance data does not reflect the redemption fee. If reflected, total returns would be lower.
Fund Strategy
The Emerging Markets Fund invests at least 80% of its net assets in securities of companies located in or whose businesses are closely associated with the world’s emerging markets countries. The Fund may invest up to 20% of its net assets in securities of companies in other less developed countries, sometimes known as “frontier market” countries, as well as developed market countries, including the U.S.
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Inception Date:
06/28/2010
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Portfolio Manager:
Thomas S. White, Jr.
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Fund Assets:
$30.54 million (as of April 30, 2012)
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Fund Price:
$10.23 (May 21, 2012)
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CUSIP:
543917405
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Benchmark:
MSCI Emerging Markets Index1
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Sales charge:
None. A no load fund
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Minimum Initial Investment:
Non-Retirement Plan $ 2500
Retirement Plan $ 1,000
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Redemption Fee:
0 - 60 days: 2.00%
More than 60 days: 0.00%
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Fees and Expenses:
Gross Annual Operating Expenses: 1.84%
Net Annual Operating Expenses: 1.50%2
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Fund Rankings
Morningstar rankings are typically available only for Funds with minimum performance history of three years. The Thomas White Emerging Markets Fund was launched on June 28, 2010.
Lipper® Rankings as of March 31, 2012
Lipper® Category: Emerging Markets
| 1-year |
5-year |
10-year |
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202 out of 450 funds
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NA
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NA
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Lipper Rankings represent the funds' ranking within its Lipper asset class peer group and are based on total return performance and do not reflect the effect of sales charges. Lipper fund data for all time periods shown as of March 31, 2012. Although a fund may outperform peers when compared to Lipper peer groups, the returns for that time period may still be negative. Rankings shown include management fees and are provided by Lipper Inc., a leading independent performance analysis service. This information is provided for educational purposes only and should not be considered investment advice. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. Past performance is no guarantee of future results.
Copyright 2012, Reuters, All Rights Reserved.
Reports and Publications
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Summary Prospectus(3/12)
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Prospectus(3/12)
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Statement of Additional
Information(3/12)
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Application
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Annual Report
(10/11)
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Semi-Annual Report
(4/11)
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Risk/Return Information
(3/11)
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1. The MSCI Emerging Markets Index is a free float-adjusted market capitalization-weighted index of 21 emerging market countries. The index is unmanaged and returns assume the reinvestment of dividends. It is not possible to invest directly in an index.
2. Gross Expenses are based on the most recent prospectus. The Advisor has contractually agreed to reimburse the Emerging Markets Fund to the extent that the Fund’s total operating expenses exceed 1.50% of the Fund’s average daily net assets. This agreement expires on February 28, 2013 and automatically renews, unless terminated by the Fund’s Board of Trustees.
While the Funds are no-load, management fees and other expenses still apply. Please refer to the prospectus for further details.
Mutual fund investing involves risk. Principal loss is possible. Investing in international markets may involve additional risks, such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. These risks are greater for emerging markets. Investments in smaller companies involved additional risks such as limited liquidity and greater volatility.