Fund Description

Incepted in December 1997, the fund is managed by The Edgar Lomax Company. The fund seeks long-term capital growth while providing some income. The fund invests at least 85% of its total assets in equity securities, consisting of common stocks and securities having the characteristics of common stocks, such as convertible securities, Standard & Poor?s Depositary Receipts (?SPDRs?), and rights and warrants. The fund uses a disciplined approach to select stocks for the fund?s portfolio that it believes are undervalued, reasonably priced and have prospects for continued consistent growth. The advisor uses fundamental analysis of financial statements to select stocks of issuers that have low price/earnings and price/book ratios as well as strong balance sheet ratios and high and/or stable dividend yields. The fund invests primarily in large, well-recognized companies. The fund distributes dividends and capital gains annually.