Fund Description

The fund was incepted in May 1999 and is managed by Wilbanks, Smith & Thomas Asset Management, LLC. The fund seeks income with capital appreciation as a secondary goal. The fund invests in real estate securities, including common stock and units of beneficial interest of real estate investment trusts, preferred stock, rights to purchase common stock and securities, which may convert into common stock of real estate companies. The fund expects to invest at least 65% of assets in these securities and up to 35% of its assets in debt securities issued or guaranteed by real estate companies. The fund distributes dividends monthly and capital gains distributions annually.