Fund Description

The fund was incepted in September 2002 and is managed by Mercantile Capital Advisors, Inc. The fund seeks long-term capital growth. The fund primarily invests in common stocks of small companies with market capitalizations of $1.5 billion or less at the time of purchase. The fund also invests in preferred stock and securities convertible into common stock. The fund also invests without limit in securities of companies offering shares in initial public offerings and 25% of its total assets in foreign equity securities, either directly or indirectly, through sponsored ADRs. The fund declares and pays dividends annually. Capital gains, if any, are declared and paid semi-annually.