The Fund’s investment objective is long-term capital appreciation. The Fund seeks its objective by investing primarily in equity securities of small market capitalization companies.
Zebra Capital Management, the Fund's sub-advisor, is a privately owned investment company founded by Yale University professor and pioneering investment researcher Roger Ibbotson, which pursues investment strategies based on systematically exploiting market characteristics supported by basic, economic principles.
Firm Inception: 2001
- Roger Ibbotson, chief investment officer, 38 years experience
- Eric Stokes, portfolio manager, 21 years experience
CAPTURING THE LIQUIDITY PREMIUM
The Fund’s manager seeks to capture the liquidity premium among public equities, taking positions in stocks that trade less frequently than similar issues.
- “Liquidity premium" is defined as the additional return that may be realized on the sales of securities that are less liquid at the time of purchase.
- The manager’s research shows that more liquid stocks tend to be priced at a premium, while lessliquid stocks are priced at a discount.
- These issues may be fundamentally sound stocks that are less frequently traded because they have temporarily fallen out of favor.
|Zebra Capital Management, LLC||