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The Fund

The Cargile Fund seeks long-term capital appreciation.

The Principal Investment Strategy of the Fund

Under normal market conditions, the Cargile Fund invests in exchange traded funds ("ETFs") and/or cash and cash equivalents. The underlying ETFs generally invest in equity securities and fixed income securities.

Cargile Investment Management, Inc., the investment adviser to the Fund, allocates the Fund's assets among its investment categories based on a proprietary trend analysis model.  The trend analysis model is designed to identify a primary trend, or price direction, of stock prices. Once a trend is identified the Fund will typically allocate its assets among equity ETFs, fixed income ETFs and/or other cash equivalents.  The allocation between these three asset classes will be determined by the Adviser’s proprietary trend analysis.  Where the trend analysis results suggest a rising markets trend, the Fund’s portfolio will be balanced with a higher proportion of equity ETFs. Whereas, when the trend analysis results suggest a falling markets trend, the Fund’s portfolio will be positioned to reflect more fixed income ETFs and/or cash equivalents.  When the Adviser’s proprietary trend analysis model indicates a high-conviction trade, the Adviser may allocate up to 50% the Fund’s assets to leveraged equity ETFs and/or leveraged income ETFs.  The Fund will hold these leveraged ETFs for as long as the Adviser’s model is indicating a high-conviction trade.  Typically, this results in the Fund holding these positions for more than one day.  A high-conviction trade occurs when the Adviser’s trend model indicates a strong likelihood that stock prices are going to move in a specific direction.


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