Performance Through 10/20/2017
|Name||Net Asset Value||$ Change||Daily¹||YTD²||Three Months²||1 Yr||3 Yrs||5 Yrs||Cumulative Since Inception³|
|The Cook & Bynum Fund||16.90||0.06||0.36%||14.42%||2.49%||12.39%||4.89%||5.44%||112.23%|
|S&P 500 Plus Dividends⁴||10820.96||55.81||0.52%||16.88%||4.63%||22.75%||12.95%||14.84%||232.16%|
Average Annual Returns through 09/30/17
|Name||1 Year||3 Years||5 Years||Since Inception³ through 09/30/17|
|The Cook & Bynum Fund||9.79%||3.92%||5.17%||9.25%|
|S&P 500 Plus Dividends⁴||18.61%||10.81%||14.22%||15.34%|
Performance data quoted represents past performance. Past performance is not indicative of future results and current performance may be lower or higher than the performance quoted. Investment return and principal value will fluctuate and shares, when redeemed, may be worth more or less than their original cost. Average annual total returns reflect reinvestment of all dividends, capital gains distributions, all fee waivers in effect, and any expense reimbursements.
As of January 30, 2017, the gross and net expense ratios of the Fund were 1.75% and 1.49%, respectively.
Cook & Bynum Capital Management, LLC, the Fund’s adviser, has contractually agreed to reduce fees and/or expenses to the extent necessary to maintain the net annual operating expenses at 1.49%; this agreement is in effect through February 1, 2018. The Fund imposes a 2.00% redemption fee on shares held for less than 60 days. Performance shown does not include the redemption fee, which, if reflected, would reduce the performance quoted. The total returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. To obtain the most recent month-end performance, please call the Fund’s toll-free number at 877-839-COBY.
¹ Represents the percentage increase/decrease in the net asset value from the prior trading day.
² Performance for periods less than one year is not annualized.
³ Inception date is July 1, 2009. Performance is Cumulative.
⁴ The S&P 500 is an unmanaged index containing common stocks of 500 industrial, transportation, utility, and financial companies, regarded as generally representative of the U.S. stock market. The index return reflects the reinvestment of income dividends and capital gain distributions, if any, but does not reflect fees, brokerage commissions, or other expenses of investing. You cannot invest directly in an index.