As a total total return bond fund, we have the flexiblity to invest in treasuries and corporate bonds of any maturity or credit quality. Given the current economic climate, we are focused on a mix of short-term U.S. Treasuries and corporate bonds.
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The Morningstar RatingTM 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% threeyear 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.CM Advisors Fixed Income Fund was rated against the following numbers of U.S.-domiciled Small-Term funds over the following time periods: 462 funds in the last three years, 399 funds in the last five years, and 257 funds in the last ten years. With respect to these Short-Term bond funds, CM Advisors Fixed Income Fund received a Morningstar Rating of five stars, four stars, and five stars for the three-, five- and ten-year periods, respectively. Past performance is no guarantee of future results.
Investment in the Fund is subject to investment risks, including, without limitation, market risk, interest rate risk, management style risk, business and sector risk, small cap risk, credit risk, maturity risk, risks related to other equity securities and other investment companies risk. For more information about the Fund, including the Fund's objectives, charges, expenses and risks (including more information about the risks listed above), please read the prospectus.
An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available by calling 1-800-664-4888 or writing the advisor at 805 Las Cimas Parkway, Suite 430, Austin, Texas 78746. You may also call the Fund directly at 1-888-859-5856. The prospectus should be read carefully before investing.
The information presented on this page is not an offer to sell or a solicitation of an offer to purchase the Fund. While Fund performance is compared to an index, it is not possible to invest in an index.
Distributed by Ultimus Fund Distributors, LLC. 225 Pictoria Drive, Suite 450, Cincinnati, Ohio 45246. Phone number 1-888-859-5856.