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Performance

The Cook & Bynum Fund received a 5 star Overall Morningstar RatingTM based on risk-adjusted return out of 723 funds in the diversified emerging markets category. Rating as of 6/30/2023.

COBYX Fact Sheet

Performance through 8/31/2023

NameNet Asset ValueMTD 1 23 Months 2CYTD 21 YR5 YR10 YRCumulative Since Inception 3
The Cook & Bynum Fund16.220.12%6.36%13.74%33.62%3.67%3.77%144.11%
MSCI ACWI Net 4--2.79%6.61%14.80%13.95%7.46%8.56%266.10%

 

Average Annual Returns through Quarter End 6/30/2023

Name1 YR3 YR5 YR10 YRAnnualized Since Inception 3
The Cook & Bynum Fund32.36%15.38%3.39%3.47%6.50%
MSCI ACWI Net 416.53%10.99%8.10%8.75%9.66%

 

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.  To obtain the most recent month-end performance, please call the Fund’s toll-free number at 877-839-COBY.

As of the Fund’s fiscal year end September 30, 2022, as shown in the Prospectus dated January 28, 2023, the gross and net expense ratios of the Fund were 2.23% 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, 2024. 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.

¹ Represents the percentage increase/decrease in the net asset value from the prior month.
² Performance for periods less than one year is not annualized.
³ Inception date is July 1, 2009.
⁴ The MSCI All Country World Index is the Fund’s primary benchmark.

© 2023 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (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. Past performance is no guarantee of future results. The Morningstar Rating for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-,five-,and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. As of 6/30/23, the fund was rated 5 stars out of 723 funds for the 3-year period, 4 stars out of 646 funds for the 5-year period and 5 stars out of 385 funds for the 10-year period.

The Cook & Bynum Fund is distributed by Foreside Financial Services, LLC. Member FINRA/SIPC. Investments involve risks and principal loss is possible.

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